← Filings of LDOS

Tables in the 10-K of Leidos Holdings, Inc.

85 tables with numbers, filed Feb 15, 2022. Each one downloads as a CSV for Excel or Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

		Page
Part I
Item 1.	Business	3
Item 1A.	Risk Factors	16
Item 1B.	Unresolved Staff Comments	31
Item 2.	Properties	31
Item 3.	Legal Proceedings	31
Item 4.	Mine Safety Disclosures	31

Gender of global employees	Male(1)	Female(1)
Global workforce	66%		34%

Age of global employees
Less than 30 years	15%
30-50 years	49%
Greater than 50 years	36%

Ethnicity of US employees(1)
White	64%
Black	13%
Asian/Indian	9%
Hispanic/Latino	8%
Other	3%
Undisclosed	3%

Location	Number of buildings	Square footage		Acreage
Huntsville, Alabama	7		801,000		90.7
Columbia, Maryland	1		95,000		7.3
Orlando, Florida	1		85,000		8.5
Oak Ridge, Tennessee	1		83,000		8.4
Reston, Virginia	1		62,000		2.6
Decatur, Alabama	1		50,000		5.0

Name of officer	Age	Position(s) with the company and prior business experience
Christopher R. Cage	50	Mr. Cage has served as Executive Vice President and Chief Financial Officer since July 2021. He has served in several capacities throughout his 23-year tenure with Leidos, including Senior Vice President, Chief Accounting Officer and Corporate Controller, Senior Vice President for Financial Planning and Analysis and Chief Financial Officer for the Health Group.
Carly E. Kimball	46	Ms. Kimball has served as Senior Vice President, Chief Accounting Officer and Corporate Controller since July 2021. Previously, she served as the Company’s Assistant Corporate Controller. Ms. Kimball brings over 20 years of experience leading large teams and has extensive proficiency in accounting, auditing, financial reporting, acquisitions and integrations, as well as business operations. Prior to joining Leidos, she served as Chief Financial Officer of CACI Products Company Inc. and senior manager in Ernst & Young’s Aerospace and Defense audit practice.
Gerard A. Fasano	56	Mr. Fasano has served as President for our Defense Group since October 2018, and before that, as Chief Business Development Strategy Officer. Mr. Fasano led the separation from Lockheed Martin and the integration of the Information Systems & Global Solutions Business into Leidos. Prior to joining Leidos, Mr. Fasano served Lockheed Martin Corporation for over 30 years.
Jerald S. Howe, Jr.	66	Mr. Howe has served as Executive Vice President and General Counsel since July 2017. Prior to joining Leidos, Mr. Howe was a partner at Fried, Frank, Harris, Shriver & Jacobson LLP, where he served in the firm’s litigation, government contracts, mergers and acquisitions and aerospace and defense practices. Prior to joining Fried Frank, Mr. Howe held general counsel positions at TASC, a leading aerospace and defense company, and at Veridian Corporation, a publicly traded company that provided advanced technology services and solutions to the intelligence community, military and homeland defense agencies.
David A. King	60	Mr. King has served as Chief Executive Officer of Dynetics, Inc. since 2015. In February 2020, following Leidos' acquisition of Dynetics, Mr. King was elected as a Group President of Leidos with responsibility for the Dynetics business. Mr. King previously served as the Executive Vice President for special programs and President of Dynetics. Prior to joining Dynetics, he spent 25 years with NASA, as Space Shuttle Launch Director and Director of Shuttle Processing, and most recently as the Center Director of NASA Marshall Space Flight Center.
James R. Moos	52	Mr. Moos has served as President for our Civil Group since February 2020. He previously served as Senior Vice President and Acting Group President for the Civil Group since October 2019, and before that, as Deputy President and Chief Operations Officer for the Civil Group. Prior to that, Mr. Moos has served Leidos for over 20 years in several capacities, including Senior Vice President and General Manager of Leidos' former Engineering Solutions Group.
Elizabeth A. Porter	51	Ms. Porter has served as President for our Health Group since August 2020 and, before that, as Acting Group President for the Health Group since March 2020. She previously served as Senior Vice President and Operation Manager for Leidos’ Federal Energy and Environment business. Prior to that role, Ms. Porter served as the Department of Defense Information Networks & Mission Partner Program Director. Prior to joining Leidos, Ms. Porter served Lockheed Martin Corporation for over 20 years in several capacities, most recently as Director of Energy Initiatives, Corporate Engineering & Technology.

Company/Market/Peer Group	12/30/2016	12/29/2017		12/28/2018	1/3/2020	1/1/2021		12/31/2021
Leidos Inc.	$100.00		$129.10		$106.88		$206.36		$221.19	$189.82
S&P 500 Composite Index	$100.00		$121.83		$115.49		$153.40		$181.35	$233.41
S&P 500 IT Services Index	$100.00		$131.22		$136.07		$193.86		$236.72	$248.27

	Year Ended	2021 to 2020
	December 31, 2021	January 1, 2021		Dollar change	Percent change
	(dollars in millions)
Revenues	$13,737		$12,297		$1,440	12%
Cost of revenues	11,723		10,560		1,163	11%
Selling, general and administrative expenses	860		770		90	12%
Bad debt expense and recoveries	(9)		(68)		59	(87)%
Acquisition, integration and restructuring costs	27		39		(12)	(31)%

	Year Ended	2021 to 2020
Defense Solutions	December 31, 2021	January 1, 2021		Dollar change	Percent change
	(dollars in millions)
Revenues	$8,032		$7,341		$691	9%
Operating income	569		506		63	12%
Operating income margin	7.1%		6.9%

	Year Ended	2021 to 2020
Civil	December 31, 2021	January 1, 2021		Dollar change	Percent change
	(dollars in millions)
Revenues	$3,157		$2,994		$163	5%
Operating income	248		280		(32)	(11)%
Operating income margin	7.9%		9.4%

	Year ended
	December 31, 2021	January 1, 2021
Segment	Funded	Unfunded		Total	Funded	Unfunded		Total
	(in millions)
Defense Solutions	$4,393		$15,274		$19,667		$3,710		$14,721	$18,431
Civil	1,628		7,903		9,531		1,398		7,051	8,449
Health	1,428		3,829		5,257		1,486		3,546	5,032
Total	$7,449		$27,006		$34,455		$6,594		$25,318	$31,912

	Year Ended
	December 31, 2021	January 1, 2021
	(in millions)
Net cash provided by operating activities	$1,031		$1,334
Net cash used in investing activities	(730)		(2,815)
Net cash (used in) provided by financing activities	(113)		1,451
Net increase (decrease) in cash, cash equivalents and restricted cash	$188		$(30)

	Total	Due in FY22
	(in millions)
Contractual obligations:
Long-term debt (including current portion)	$5,067		$477
Interest payments	1,191		150
Operating lease obligations	817		162
Finance lease obligations	52		9
Other long-term liabilities and purchase obligations	308		35

Total current assets	$2,229
Goodwill	4,171
Investments in consolidated subsidiaries	4,918
Other long-term assets	1,362
	$12,680
Total current liabilities	$2,400
Long-term debt, net of current portion	4,590
Intercompany payables	1,438

	Year Ended	2021 to 2020
Corporate	December 31, 2021	January 1, 2021		Dollar change	Percent change
	(dollars in millions)
Operating loss	$(107)		$(23)		$(84)	NM

	Page
CONSOLIDATED FINANCIAL STATEMENTS
Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34)	51
Consolidated Balance Sheets as of December 31, 2021 and January 1, 2021	54
Consolidated Statements of Income for the fiscal years ended December 31, 2021, January 1, 2021 and January 3, 2020	55
Consolidated Statements of Comprehensive Income for the fiscal years ended December 31, 2021, January 1, 2021 and January 3, 2020	56
Consolidated Statements of Equity for the fiscal years ended December 31, 2021, January 1, 2021 and January 3, 2020	57
Consolidated Statements of Cash Flows for the fiscal years ended December 31, 2021, January 1, 2021 and January 3, 2020	58

	Shares of common stock	Additional paid-in capital		Retained earnings	Accumulated other comprehensive loss	Leidos Holdings, Inc. stockholders' equity		Non-controlling interest	Total
	(in millions, except for per share amounts)
Balance at December 28, 2018	146		$2,966		$372		$(30)		$3,308	$3	$3,311
Cumulative adjustments related to ASU adoptions	—		—		48		—		48	—	48
Balance at December 28, 2018	146		2,966		420		(30)		3,356	3	3,359
Net income	—		—		667		—		667	3	670
Other comprehensive loss, net of taxes	—		—		—		(40)		(40)	—	(40)
Issuances of stock	1		28		—		—		28	—	28

	Estimated useful lives (in years)
Backlog	1
Customer relationships	8-10
Programs	4-13
Software and technology	3-15
Trade names	3

	Year Ended December 31, 2021
	Defense Solutions	Civil		Health	Total
	(in millions)
DoD and U.S. Intelligence Community	$5,939		$54		$756	$6,749
Other government agencies(1)	964		2,447		1,681	5,092
Commercial and non-U.S. customers	1,126		543		107	1,776
Total	$8,029		$3,044		$2,544	$13,617

	Year Ended January 1, 2021
	Defense Solutions	Civil		Health	Total
	(in millions)
DoD and U.S. Intelligence Community	$5,407		$59		$519	$5,985
Other government agencies(1)	995		2,418		1,329	4,742
Commercial and non-U.S. customers	937		426		107	1,470
Total	$7,339		$2,903		$1,955	$12,197

	Year Ended January 3, 2020
	Defense Solutions	Civil		Health	Total
	(in millions)
DoD and U.S. Intelligence Community	$4,767		$67		$491	$5,325
Other government agencies(1)	685		2,291		1,332	4,308
Commercial and non-U.S. customers	847		345		151	1,343
Total	$6,299		$2,703		$1,974	$10,976

	Balance sheet line item	December 31, 2021	January 1, 2021
		(in millions)
Contract assets - current:
Unbilled receivables	Receivables, net	$1,022		$906
Contract liabilities - current:
Deferred revenue(1)	Accounts payable and accrued liabilities	$364		$481
Contract liabilities - non-current:
Deferred revenue(1)	Other long-term liabilities	$24		$20

	Weighted average amortization period	Fair value
	(in years)	(in millions)
Technology	8	$43
Programs	10	37
Backlog	1	6
Total	8	$86

Cash	$27
Receivables	128
Inventory	106
Other current assets	26
Operating lease right-of-use assets	35
Property, plant and equipment	32
Intangible assets	355
Accounts payable and accrued liabilities	(132)

Tables in the 10-K of Leidos Holdings, Inc.

Table 1 after “TABLE OF CONTENTS”

Table 2 after “As of December 31, 2021, our workforce consisted of the following:”

Table 3 after “Based on employees who self-identify.”

Table 4 after “Based on employees who self-identify.”

Table 5 after “As of December 31, 2021, we owned the following properties:”

Table 6 after “PART I”

Table 7 after “Comparison of Cumulative Total Return”

Table 8 after “Our results of operations for the periods presented were as follows:”

Table 9 after “Segment and Corporate Results”

Table 10 after “The increase in operating income for fiscal 2021 as compared to fiscal 2020 was primarily attributable to program wins, a net increase in pr”

Table 11 after “The decrease in operating income for fiscal 2021 as compared to fiscal 2020 was primarily attributable to a net decrease in volumes on certa”

Table 12 after “PART II”

Table 13 after “The estimated value of our total backlog for the periods presented was as follows:”

Table 14 after “Our earnings and profitability may vary materially depending on changes in the proportionate amount of revenues derived from each type of co”

Table 15 after “The following table summarizes cash flow information for the periods presented:”

Table 16 after “The following table summarizes our obligations to make future payments pursuant to certain contracts or arrangements as of December 31, 2021”

Table 17 after “Balance Sheet”

Table 18 after “INDEX TO CONSOLIDATED FINANCIAL STATEMENTS”

Table 19 after “CONSOLIDATED BALANCE SHEETS”

Table 20 after “CONSOLIDATED STATEMENTS OF INCOME”

Table 21 after “CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME”

Table 22 after “CONSOLIDATED STATEMENTS OF EQUITY”

Table 23 after “CONSOLIDATED STATEMENTS OF CASH FLOWS”

Table 24 after “CONSOLIDATED STATEMENTS OF CASH FLOWS [CONTINUED]”

Table 25 after “Changes in estimates on contracts for the periods presented were as follows:”

Table 26 after “Intangible assets with finite lives are amortized over the following periods:”

Table 27 after “Disaggregated revenues by customer-type were as follows:”

Table 28 after “Disaggregated revenues by customer-type were as follows:”

Table 29 after “Disaggregated revenues by customer-type were as follows:”

Table 30 after “Disaggregated revenues by contract-type were as follows:”

Table 31 after “Disaggregated revenues by contract-type were as follows:”

Table 32 after “NOTES TO CONSOLIDATED FINANCIAL STATEMENTS”

Table 33 after “Disaggregated revenues by geographic location were as follows:”

Table 34 after “Disaggregated revenues by geographic location were as follows:”

Table 35 after “Disaggregated revenues by geographic location were as follows:”

Table 36 after “The components of contract assets and contract liabilities consisted of the following:”

Table 37 after “The following table summarizes the fair value of intangible assets acquired at the Closing Date and the related weighted average amortizatio”

Table 38 after “The final fair values of the assets acquired and liabilities assumed at the Transaction Date were as follows (in millions):”

Table 39 after “The following table summarizes the final fair value of intangible assets acquired at the Transaction Date and the related weighted average a”

Table 40 after “The final fair values of the assets acquired and liabilities assumed at the Acquisition Date were as follows (in millions):”

Table 41 after “The following table summarizes the final fair value of intangible assets acquired at the Acquisition Date and the related weighted average a”

Table 42 after “The following expenses were incurred related to the acquisitions of Dynetics, the SD&A Businesses, 1901 Group and Gibbs & Cox:”

Table 43 after “The components of receivables, net consisted of the following:”

Table 44 after “The components of inventory, net consisted of the following:”

Table 45 after “The following table presents changes in the carrying amount of goodwill by reportable segment:”

Table 46 after “Intangible assets, net consisted of the following:”

Table 47 after “The estimated annual amortization expense related to finite-lived intangible assets as of December 31, 2021, is as follows:”

Table 48 after “Property, plant and equipment, net consisted of the following:”

Table 49 after “ROU assets and lease liabilities consisted of the following:”

Table 50 after “Total lease cost for the periods presented consisted of the following:”

Table 51 after “Lease terms and discount rates related to leases were as follows:”

Table 52 after “Other information related to leases was as follows:”

Table 53 after “Future minimum lease commitments of our finance and operating leases on an undiscounted basis, reconciled to the respective lease liability ”

Table 54 after “The components of lease income were as follows:”

Table 55 after “As of December 31, 2021, undiscounted cash flows for sales-type and operating leases for the next five years are as follows:”

Table 56 after “Financial instruments measured on a recurring basis at fair value consisted of the following:”

Table 57 after “The fair value of the interest rate swaps was as follows:”

Table 58 after “The effect of the cash flow hedges on other comprehensive income (loss) and earnings for the periods presented was as follows:”

Table 59 after “Debt consisted of the following:”

Table 60 after “Future minimum payments of debt are as follows:”

Table 61 after “Changes in the components of accumulated other comprehensive loss were as follows:”

Table 62 after “Note 15—Composition of Certain Financial Statement Captions”

Table 63 after “million of dividends received during fiscal 2021 and fiscal 2020, respectively, that were recorded in cash flows provided by operating activ”

Table 64 after “The weighted average number of shares used to compute basic and diluted EPS attributable to Leidos stockholders were:”

Table 65 after “Stock-based compensation and related tax benefits recognized under all plans were as follows:”

Table 66 after “The weighted average grant-date fair value and assumptions used to determine fair value of stock options granted for the periods presented w”

Table 67 after “Stock option activity for each of the periods presented was as follows:”

Table 68 after “Restricted stock units and awards activity for each of the periods presented was as follows:”

Table 69 after “Performance-based stock award activity for each of the periods presented was as follows:”

Table 70 after “The Monte Carlo simulation assumptions used for the periods presented were as follows:”

Table 71 after “The provision for income taxes for the periods presented included the following:”

Table 72 after “A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate to income before”

Table 73 after “Deferred income taxes are recorded for differences in the basis of assets and liabilities for financial reporting purposes and tax reporting”

Table 74 after “Income tax balance sheet items are included in the accompanying consolidated balance sheets as follows:”

Table 75 after “The changes in the unrecognized tax benefits were as follows:”

Table 76 after “The following table summarizes business segment information for the periods presented:”

Table 77 after “As of December 31, 2021, the future expirations of the outstanding letters of credit and surety bonds were as follows:”

Table 78 after “Information with respect to our equity compensation plans as of December 31, 2021, is set forth below:”

Table 79 after “3. Exhibits”

	December 31, 2021	January 1, 2021
	Gross carrying value	Accumulated amortization		Net carrying value	Gross carrying value	Accumulated amortization		Net carrying value
	(in millions)
Finite-lived intangible assets:
Programs	$1,722		$(830)		$892		$1,632		$(687)	$945
Software and technology	230		(121)		109		188		(100)	88
Customer relationships	97		(18)		79		93		(10)	83
Backlog	38		(37)		1		32		(29)	3

Fiscal Year Ending
	(in millions)
2022	$234
2023	204
2024	151
2025	121
2026	97
2027 and thereafter	274

	December 31, 2021	January 1, 2021		January 3, 2020
Weighted-average remaining lease term (in years):
Finance leases	8.4	2.9		2.4
Operating leases	6.8	7.3		5.7
Weighted-average discount rate:
Finance leases	2.5%		2.7%		4.2%
Operating leases	3.2%		3.5%		4.1%

Fiscal Year Ending	Finance lease commitments	Operating lease commitments
	(in millions)
2022	$10		$162
2023	7		144
2024	5		129
2025	5		90
2026	5		68
2027 and thereafter	26		224

		Year Ended
	Income statement line item	December 31, 2021	January 1, 2021		January 3, 2020
		(in millions)
Sales-type leases:
Selling price at lease commencement	Revenues	$80		$61		$84
Cost of underlying asset	Cost of revenues	(60)		(47)		(86)
Operating income (loss)		20		14		(2)
Interest income on lease receivables	Revenues	8		8		6

Fiscal Year Ending	Sales-type leases	Operating leases
	(in millions)
2022	$44		$23
2023	29		26
2024	18		27
2025	11		—
2026	3		—
Total undiscounted cash flows	$105		$76

	December 31, 2021	January 1, 2021
	Carrying value	Fair value		Carrying value	Fair value
	(in millions)
Financial liabilities:
Derivatives	$53		$53		$103	$103

	Liability derivatives
	Balance sheet line item	December 31, 2021	January 1, 2021
		(in millions)
Cash flow interest rate swaps	Other long-term liabilities	$53		$103

	Stated interest rate	Effective interest rate		December 31, 2021(1)	January 1, 2021(1)
				(in millions)
Short-term debt:
Senior unsecured term loans:
$380 million term loan, due May 2022	1.24%		1.34%		$380	$—
Long-term debt:
Senior unsecured term loan:
$1,925 million Term Loan, due January 2025	1.49%		1.75%		$1,298	$1,391

	Foreign currency translation adjustments	Unrecognized loss on derivative instruments		Pension adjustments	Total accumulated other comprehensive loss
	(in millions)
Balance at December 28, 2018	$(41)		$14		$(3)	$(30)
Other comprehensive income (loss)	5		(55)		(1)	(51)
Taxes	3		15		—	18
Reclassification from accumulated other comprehensive loss	—		(7)		—	(7)
Balance at January 3, 2020	(33)		(33)		(4)	(70)
Other comprehensive income (loss)	70		(61)		(3)	6