SAIC Files Q3 FY25 10-Q Report

TL;DR

**SAIC Q3 FY25 10-Q FILED** - Financials and operations update.

AI Summary

Science Applications International Corp (SAIC) filed its 10-Q for the period ending November 1, 2024. The company reported its financial results for the third quarter of fiscal year 2025. Key financial data and operational updates are detailed within this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational details of Science Applications International Corp, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a government contractor, SAIC is subject to risks related to government spending, contract awards, and regulatory changes.

Key Numbers

• 20241101 — End of Fiscal Q3 (Reporting period end date)
• 20241205 — Filing Date (Date the 10-Q was submitted to the SEC)

Key Players & Entities

• Science Applications International Corp (company) — Filer of the 10-Q
• SAIC (company) — Abbreviation for Science Applications International Corp
• 20241101 (date) — End of reporting period
• 20241205 (date) — Filing date
• 0001571123 (company) — CIK number for SAIC

FAQ

Filing Documents

• saic-20241101.htm (10-Q) — 1490KB
• saic1101202410qexhibit311.htm (EX-31.1) — 10KB
• saic1101202410qexhibit312.htm (EX-31.2) — 10KB
• saic1101202410qexhibit321.htm (EX-32.1) — 5KB
• saic1101202410qexhibit322.htm (EX-32.2) — 5KB
• 0001571123-24-000153.txt ( ) — 7533KB
• saic-20241101.xsd (EX-101.SCH) — 48KB
• saic-20241101_cal.xml (EX-101.CAL) — 54KB
• saic-20241101_def.xml (EX-101.DEF) — 165KB
• saic-20241101_lab.xml (EX-101.LAB) — 565KB
• saic-20241101_pre.xml (EX-101.PRE) — 376KB
• saic-20241101_htm.xml (XML) — 1348KB

Financial Information

Part I Financial Information

Financial Statements

Item 1 Financial Statements 1 Condensed Consolidated Statements of Income 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Note 1—Business Overview and Summary of Significant Accounting Policies 6 Note 2—Earnings Per Share, Share Repurchases and Dividends 9 Note 3—Revenues 10 Note 4—Divestitures 12 Note 5—Goodwill and Intangible Assets 13 Note 6—Income Taxes 14 Note 7—Debt Obligations 15 Note 8 —Derivative Instruments Designated as Cash Flow Hedges 16 Note 9—Changes in Accumulated Other Comprehensive Income (Loss) by Component 18 Note 10—Sales of Receivables 19 Note 11—Business Segments Information 19 Note 12—Legal Proceedings and Other Commitments and Contingencies 22 Note 13—Subsequent Events 23

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3 Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4 Controls and Procedures 35

Other Information

Part II Other Information 36

Legal Proceedings

Item 1 Legal Proceedings 36

Risk Factors

Item 1A Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 36

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 36

Other Information

Item 5 Other Information 36

Signatures

Signatures 38 -i- Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SCIENCE APPLICATIONS INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended Nine Months Ended November 1, 2024 November 3, 2023 November 1, 2024 November 3, 2023 (in millions, except per share amounts) Revenues $ 1,976 $ 1,895 $ 5,641 $ 5,707 Cost of revenues 1,739 1,666 4,981 5,027 Selling, general and administrative expenses 83 87 245 259 (Gain) loss on divestitures, net of transaction costs — — — ( 240 ) Other operating (income) expense ( 6 ) ( 1 ) ( 10 ) ( 1 ) Operating income 160 143 425 662 Interest expense, net 32 27 97 88 Other (income) expense, net 2 2 7 2 Income before income taxes 126 114 321 572 Provision for income taxes ( 20 ) ( 21 ) ( 57 ) ( 134 ) Net income $ 106 $ 93 $ 264 $ 438 Earnings per share: Basic $ 2.15 $ 1.79 $ 5.22 $ 8.19 Diluted $ 2.13 $ 1.76 $ 5.17 $ 8.11 See accompanying notes to condensed consolidated financial statements. -1- Table of Conten ts SCIENCE APPLICATIONS INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Nine Months Ended November 1, 2024 November 3, 2023 November 1, 2024 November 3, 2023 (in millions) Net income $ 106 $ 93 $ 264 $ 438 Other comprehensive (loss) income, net of tax: Net unrealized (loss) gain on derivative instruments ( 1 ) ( 3 ) ( 6 ) ( 2 ) Total other comprehensive (loss) income, net of tax ( 1 ) ( 3 ) ( 6 ) ( 2 ) Comprehensive income $ 105 $ 90 $ 258 $ 436 See accompanying notes to condensed consolidated financial statements. -2- Table of Conten ts SCIENCE APPLICATIONS INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) November 1, 2024 February 2, 2024 (in millions) ASSETS Current assets: Cash and cash equivalents $ 46 $ 94 Receivables, net 1,022 914 Prepaid expenses and other current assets 92 123 Total current assets 1,160 1,131 Goodwill 2,851 2,851 Intangible assets, net 80

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View this 10-Q filing on SEC EDGAR