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

82 tables with numbers, filed Feb 13, 2024. 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	43
Item 1C.	Cybersecurity	44
Item 2.	Properties	46
Item 3.	Legal Proceedings	46

Age of global employees
Less than 30 years	15%
30-50 years	47%
Greater than 50 years	38%

Ethnicity of U.S. employees(1)
White	61%
Black	13%
Asian/Indian	10%
Hispanic/Latino	10%
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
Decatur, Alabama	1		50,000		5.0

Name of officer	Age	Position(s) with the company and prior business experience
Thomas A. Bell	63	Mr. Bell serves as the Chief Executive Officer of Leidos. He joined Leidos as CEO in May 3, 2023. Mr. Bell has held leadership roles as President – Defense Rolls-Royce plc; Chairman and CEO – Rolls-Royce North America (Rolls-Royce) since February 2018. Prior to that, Mr. Bell was Senior Vice President of global sales and marketing for defense, space and security at The Boeing Company (Boeing) from 2015. Before joining Boeing in 2015, Mr. Bell was President of Rolls-Royce Defense Aerospace, having joined as President, Customer Business, North America in mid-2012.
Christopher R. Cage	52	Mr. Cage has served as Executive Vice President and Chief Financial Officer since July 2021. He has served in several capacities throughout his 25-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.

Name of officer	Age	Position(s) with the company and prior business experience
Carly E. Kimball	48	Ms. Kimball has served as the Executive Vice President, Chief Performance Officer since January 2024. In addition, she served as Senior Vice President, Chief Accounting Officer and Corporate Controller since July 2021. Ms. Kimball also served as the Company’s Assistant Corporate Controller. Ms. Kimball has over 25 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	58	Mr. Fasano has served as Executive Vice President, Chief Growth Officer since January 2024. Previously, he served as President for our Defense Group since October 2018. Mr. Fasano also served as the Company's Chief of Business Development and Strategy Officer, and led the separation from the Lockheed Martin Corporation 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.	68	Mr. Howe has served as Executive Vice President and General Counsel since July 2017 and as Corporate Secretary since September 2023. 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.
Steve Cook	56	Mr. Cook has served as President for Leidos Dynetics (formerly Dynetics Group) since April 2022. He previously served as Deputy Group President and Operations Manager of the Leidos Innovations Center from February 2020 to March 2022. Mr. Cook joined Dynetics in 2009 as the director of space technologies before leading the Dynetics Space Division and then later overseeing Dynetics’ corporate development efforts. Prior to joining Dynetics, he enjoyed a long and successful career at NASA, serving in such roles as the deputy manager of NASA’s Marshall Space Transportation Programs and Projects Office as well as the manager of the Ares Projects Office at the Marshall Space Flight Center in Huntsville.
Elizabeth M. Porter	53	Ms. Porter has served as President for the Health and Civil Sector since January 2024. Previously, she served as President for our Health Group since August 2020 and, before that, as Acting Group President for the Health Group since March 2020. Ms. Porter also 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 Army IT, a portfolio of IT programs for the U.S. Army.
Roy Stevens	55	Mr. Stevens has served as President for the National Security Sector since January 2024. Previously, he served as President for our Intelligence Group since July 2021, and before that, as Chief of Business Development and Strategy. Prior to joining Leidos, Mr. Stevens served Lockheed Martin Corporation in a variety of executive level positions for over 20 years, most recently as Vice President of Global Solutions under the Information Systems & Global Solutions business, and has also been integral to the merger and acquisition of several companies during his career. He serves on the Board of Directors for Cornerstones.

Name of officer	Age	Position(s) with the company and prior business experience
Thomas C. Sanglier	63	Mr. Sanglier has served as Senior Vice President and Chief Audit Executive since July 2022. Prior to joining Leidos, Mr. Sanglier served as Senior Director, Internal Audit with Raytheon Technologies from November 2016 to June 2022 and as a Partner with Ernst & Young’s Advisory practice serving private and public organizations in the technology, manufacturing and professional services industries during June 2008 to December 2010. He previously served as Chair of the North American Board and a member of the Global Board of the Institute of Internal Auditors ("IIA") from April 2022 to March 2023. He has been involved as a volunteer leader with the IIA since becoming a member in 2011. Mr. Sanglier has also served as a member of The IIA’s Audit Committee, Guidance Development Committee, North American Publications Advisory Committee and multiple task forces.
Maureen Waterston	59	Ms. Waterston has served as Chief Human Resources Officer for Leidos since March 2022. Ms. Waterston has over 25 years of experience overseeing talent, recruitment, and development; employee and labor relations; compensation and benefits; and diversity and inclusion across a global workforce. Prior to joining Leidos, Ms. Waterston served as Chief Human Resources Officer for Pratt & Whitney from November 2015 to March 2022, Chief Human Resources Officer for United Technologies Building & Industrial Systems and Chief Human Resources Officer for Otis Elevator Company.
James F. Carlini	59	Mr. Carlini has served as Chief Technology Officer of Leidos since June 2019. Prior to joining Leidos, Mr. Carlini founded and operated a national security consultancy from May 2006 to October 2018. Previously, Mr. Carlini served at Northrop Grumman Electronic Systems from July 2002 to May 2006, with his last position being Vice President of Advanced Development Programs. He also served at the Defense Advanced Research Projects Agency (DARPA) for six years, with his last position being Director of the Special Projects Office. Mr. Carlini is a former member of the United States Army Science Board and the United States Air Force Scientific Advisory Board. He is currently a member of the Department of Defense’s Defense Science Board.
M. Victoria Schmanske	61	Ms. Schmanske has served as the President of the Commercial and International Sector since January 2024. Previously, she served as the Executive Vice President of Leidos Corporate Operations since July 2021, and before that, as President for the Intelligence Group. Ms. Schmanske has also served as the Leidos Chief Administrative Officer and Deputy President and Chief Operations Officer for the Health Group. Prior to joining Leidos, Ms. Schmanske served Lockheed Martin Corporation for over 30 years, most recently as Vice President for Operations IS&GS. She serves on multiple outside boards to include the University of Virginia School of Data Science Advisory Board, the Virginia Engineering Foundation Board of Directors, and The Women’s Center.
Cindy Gruensfelder	58	Ms. Gruensfelder has served as the President of the Defense System Sector since January 2024. Ms. Gruensfelder has extensive Aerospace and Defense leadership expertise, serving for more than 30 years in a variety of leadership roles at Boeing, and its heritage company, McDonnell Douglas. She served as Vice President and General Manager of the Missile and Weapon Systems ("MWS"), division of Boeing Defense, Space & Security, from April 2021 to November 2022, and prior to that role, as Vice President of Weapons for the MWS division from October 2018 to April 2021.
Steve Hull	53	Mr. Hull has served as the President for the Digital Modernization Sector since January 2024. Previously, he served as Executive Vice President and Operations Manager for Enterprise and Cyber Solutions at Leidos from March 2022 through December 2023, and Chief Information Officer ("CIO") at Leidos from August 2016 through March 2022. Prior to joining Leidos, Mr. Hull served as the CIO of the Lockheed Martin Corporation's Information Systems & Global Solutions business area from January 2013 through August 2016, ensuring operations and security of IT systems for over 20,000 employees. Mr. Hull has over 30 years of experience in the IT field.

Company/Market/Peer Group	12/28/2018	1/3/2020		1/1/2021	12/31/2021	12/30/2022		12/29/2023
Leidos Inc.	$100.00		$193.07		$206.95		$177.59		$213.19	$222.79
S&P 500 Composite Index	$100.00		$132.82		$157.02		$202.09		$165.49	$205.59
S&P 500 IT Services Index	$100.00		$142.47		$173.97		$182.45		$148.63	$195.36

Period	Total Number of Shares Purchased(1)	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans or Programs		Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs(2)
September 30, 2023	—	$—		—		14,934,512
October 1, 2023 - October 31, 2023	—	—		—		14,934,512
November 1, 2023 - November 30, 2023	1,669,887	104.56		1,669,887		13,264,625
December 1, 2023 - December 29, 2023	233,306	107.35		233,306		13,031,319
Total	1,903,193	$104.90		1,903,193

	Year Ended	2023 to 2022
	December 29, 2023	December 30, 2022		Dollar change	Percent change
	(dollars in millions)
Revenues	$15,438		$14,396		$1,042	7%
Cost of revenues	13,194		12,312		882	7%
Selling, general and administrative expenses	942		951		(9)	(1)%
Acquisition, integration and restructuring costs	24		17		7	41%
Goodwill impairment charges	596		—		596	NM

	Year ended
	December 29, 2023	December 30, 2022
Segment	Funded	Unfunded		Total	Funded	Unfunded		Total
	(in millions)
Defense Solutions	$4,541		$14,783		$19,324		$4,442		$14,155	$18,597
Civil	2,182		9,475		11,657		1,876		8,790	10,666
Health	2,073		3,908		5,981		2,064		4,455	6,519
Total	$8,796		$28,166		$36,962		$8,382		$27,400	$35,782

	Year Ended
	December 29, 2023	December 30, 2022
	(in millions)
Net cash provided by operating activities(1)	$1,165		$992
Net cash used in investing activities	(211)		(313)
Net cash used in financing activities	(715)		(865)

	December 29, 2023
	(in millions)
Total current assets	$2,464
Goodwill	5,517
Other long-term assets	1,241
Total assets	$9,222
Total current liabilities	$1,983
Long-term debt, net of current portion	4,663

	December 29, 2023
	(in millions)
Revenues, net	$10,382
Operating income	538
Net income attributable to Leidos common stockholders	8

	Year Ended	2023 to 2022
Corporate	December 29, 2023	December 30, 2022		Dollar change	Percent change
	(dollars in millions)
Operating loss	$(130)		$(108)		$(22)	20%

	Page
CONSOLIDATED FINANCIAL STATEMENTS
Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34)	65
Consolidated Balance Sheets as of December 29, 2023 and December 30, 2022	68
Consolidated Statements of Operations for the fiscal years ended December 29, 2023, December 30, 2022 and December 31, 2021	69
Consolidated Statements of Comprehensive Income for the fiscal years ended December 29, 2023, December 30, 2022 and December 31, 2021,	70
Consolidated Statements of Equity for the fiscal years ended December 29, 2023, December 30, 2022 and December 31, 2021	71
Consolidated Statements of Cash Flows for the fiscal years ended December 29, 2023, December 30, 2022 and December 31, 2021	72

	December 29, 2023	December 30, 2022
	(in millions, except share and per share data)
Assets:
Cash and cash equivalents	$777		$516
Receivables, net	2,429		2,350
Inventory, net	310		287
Other current assets	489		490
Total current assets	4,005		3,643

	Shares of common stock	Additional paid-in capital		Retained earnings	Accumulated other comprehensive income (loss)	Leidos stockholders' equity		Non-controlling interest	Total stockholders' equity
	(in millions, except for per share data)
Balance at January 1, 2021	142		$2,580		$1,328		$(46)		$3,862	$9	$3,871
Net income	—		—		753		—		753	6	759
Other comprehensive income, net of taxes	—		—		—		34		34	—	34
Issuances of stock	1		46		—		—		46	—	46
Repurchases of stock and other	(3)		(270)		—		—		(270)	—	(270)
Dividends of $1.40 per share	—		—		(201)		—		(201)	—	(201)

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

	Depreciation method	Estimated useful lives (in years)
Computers and other equipment	Straight-line or declining-balance	2-15
Buildings	Straight-line	Not to exceed 40
Building improvements and leasehold improvements	Straight-line	Shorter of useful life of asset or remaining lease term
Vehicles and transportation equipment	Straight-line	3-15
Office furniture and fixtures	Straight-line or declining-balance	6-9

	Year Ended December 29, 2023
	Defense Solutions	Civil		Health	Total
	(in millions)
DoD and U.S. Intelligence Community	$6,480		$97		$1,000	$7,577
Other U.S. government agencies(1)	1,009		2,773		1,952	5,734
Commercial and non-U.S. customers	1,239		701		88	2,028
Total	$8,728		$3,571		$3,040	$15,339

	Year Ended December 30, 2022
	Defense Solutions	Civil		Health	Total
	(in millions)
DoD and U.S. Intelligence Community	$6,027		$84		$999	$7,110
Other U.S. government agencies(1)	1,004		2,660		1,576	5,240
Commercial and non-U.S. customers	1,211		618		108	1,937
Total	$8,242		$3,362		$2,683	$14,287

	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 U.S. 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

	Balance sheet line item	December 29, 2023	December 30, 2022
		(in millions)
Contract assets - current:
Unbilled receivables	Receivables, net	$1,041		$1,010
Contract liabilities - current:
Deferred revenue(1)	Accounts payable and accrued liabilities	$442		$380
Contract liabilities - non-current:
Deferred revenue(1)	Other long-term liabilities	$21		$29

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

Table 1 after “TABLE OF CONTENTS”

Table 2 after “Based on employees who self-identify.”

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

Table 4 after “As of December 29, 2023, we owned the following properties:”

Table 5 after “The following is a list of the names and ages (as of February 13, 2024) of our executive officers, indicating all positions and offices held”

Table 6 after “PART I”

Table 7 after “PART I”

Table 8 after “Comparison of Cumulative Total Return”

Table 9 after “The following table presents information related to the repurchases of our common stock during the quarter ended December 29, 2023:”

Table 10 after “Our results of operations for the periods presented were as follows:”

Table 11 after “Segment and Corporate Results”

Table 12 after “PART II”

Table 13 after “The decrease in operating income for fiscal 2023 as compared to fiscal 2022 was primarily attributable to a net increase in impairment charg”

Table 14 after “The increase in operating income for fiscal 2023 as compared to fiscal 2022 was primarily attributable to increased earnings from incentive ”

Table 15 after “The estimated value of our total backlog for the periods presented was as follows:”

Table 16 after “Our earnings and profitability may vary materially depending on changes in the proportionate amount of revenues derived from each type of co”

Table 17 after “The following table summarizes cash flow information for the periods presented:”

Table 18 after “Balance Sheet Information for the Guarantor and Issuer of Registered Notes”

Table 19 after “Statement of Operations Information for the Guarantor and Issuer of Registered Notes”

Table 20 after “INDEX TO CONSOLIDATED FINANCIAL STATEMENTS”

Table 21 after “CONSOLIDATED BALANCE SHEETS”

Table 22 after “CONSOLIDATED STATEMENTS OF OPERATIONS”

Table 23 after “CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME”

Table 24 after “CONSOLIDATED STATEMENTS OF EQUITY”

Table 25 after “CONSOLIDATED STATEMENTS OF CASH FLOWS”

Table 26 after “CONSOLIDATED STATEMENTS OF CASH FLOWS [CONTINUED]”

Table 27 after “Changes in estimates on contracts for the periods presented were as follows:”

Table 28 after “Intangible assets with finite lives are amortized over the following periods:”

Table 29 after “Depreciation is recognized using the methods and estimated useful lives as follows:”

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

Table 31 after “NOTES TO CONSOLIDATED FINANCIAL STATEMENTS”

Table 32 after “NOTES TO CONSOLIDATED FINANCIAL STATEMENTS”

Table 33 after “Disaggregated revenues by contract-type were as follows:”

Table 34 after “Disaggregated revenues by contract-type were as follows:”

Table 35 after “Disaggregated revenues by contract-type were as follows:”

Table 36 after “Disaggregated revenues by geographic location were as follows:”

Table 37 after “Disaggregated revenues by geographic location were as follows:”

Table 38 after “Disaggregated revenues by geographic location were as follows:”

Table 39 after “The components of contract assets and contract liabilities consisted of the following:”

Table 40 after “The following table summarizes the fair value of intangible assets acquired at the Agreement Date and the related weighted average amortizat”

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

Table 42 after “The following expenses were incurred related to the Company's acquisitions:”

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 29, 2023, 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 29, 2023, 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 Income (Loss) ("AOCI") were as follows:”

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

Table 63 after “The weighted average number of shares used to compute basic and diluted EPS attributable to Leidos stockholders were:”

Table 64 after “Stock-based compensation and related tax benefits recognized under all plans were as follows:”

Table 65 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 66 after “Stock option activity for each of the periods presented was as follows:”

Table 67 after “Restricted stock units and awards activity for each of the periods presented was as follows:”

Table 68 after “Performance-based stock award activity for each of the periods presented was as follows:”

Table 69 after “The Monte Carlo simulation assumptions used for the periods presented were as follows:”

Table 70 after “The provision for income taxes for the periods presented included the following:”

Table 71 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 72 after “Deferred income taxes are recorded for differences in the basis of assets and liabilities for financial reporting purposes and tax reporting”

Table 73 after “Income tax balance sheet items are included in the accompanying consolidated balance sheets as follows:”

Table 74 after “The changes in the unrecognized tax benefits were as follows:”

Table 75 after “The following table summarizes business segment information for the periods presented:”

Table 76 after “As of December 29, 2023, the future expirations of the outstanding letters of credit and surety bonds were as follows:”

Table 77 after “Information with respect to our equity compensation plans as of December 29, 2023, is set forth below:”

Table 78 after “3. Exhibits”

Table 79 after “PART IV”

	Weighted average amortization period	Fair value
	(in years)	(in millions)
Programs	11	$19
Technology	10	5
Total	11	$24

	December 29, 2023	December 30, 2022
	Gross carrying value	Accumulated amortization		Net carrying value	Gross carrying value	Accumulated amortization		Net carrying value
	(in millions)
Finite-lived intangible assets:
Programs	$1,689		$(1,175)		$514		$1,721		$(1,016)	$705
Software and technology	263		(144)		119		225		(136)	89
Customer relationships	52		(22)		30		87		(25)	62
Trade names	—		—		—		1		(1)	—

Fiscal Year Ending
	(in millions)
2024	$148
2025	120
2026	99
2027	72
2028	62
2029 and thereafter	162

Fiscal Year Ending	Finance lease commitments	Operating lease commitments
	(in millions)
2024	$22		$158
2025	22		119
2026	22		95
2027	15		70
2028	5		68
2029 and thereafter	15		237

		Year Ended
	Statement of operations line item	December 29, 2023	December 30, 2022		December 31, 2021
		(in millions)
Sales-type leases:
Selling price at lease commencement	Revenues	$51		$65		$80
Cost of underlying asset	Cost of revenues	(41)		(52)		(60)
Operating income		10		13		20
Interest income on lease receivables	Revenues	9		9		8

Fiscal Year Ending	Sales-type leases	Operating leases
	(in millions)
2024	$44		$20
2025	32		5
2026	18		—
2027	8		—
2028	5		—
Total undiscounted cash flows	$107		$25

	December 29, 2023	December 30, 2022
	Carrying value	Fair value		Carrying value	Fair value
	(in millions)
Financial assets:
Derivatives	$11		$11		$20	$20

	Stated interest rate	Effective interest rate		December 29, 2023	December 30, 2022
				(in millions)
Short-term debt and current portion of long-term debt:
Senior unsecured term loans:
$380 million term loan, due May 2023	6.08%		6.17%		$—		$320
Current portion of long-term debt				18		672
Total short-term debt and current portion of long-term debt				$18		$992
Long-term debt:

	Foreign currency translation adjustments	Unrecognized gain (loss) on derivative instruments		Pension adjustments	Total AOCI
	(in millions)
Balance at January 1, 2021	$30		$(70)		$(6)	$(46)
Other comprehensive income (loss)	(3)		18		17	32
Taxes	(5)		(8)		(4)	(17)
Reclassification from AOCI	—		19		—	19
Balance at December 31, 2021	22		(41)		7	(12)
Other comprehensive income (loss)	(108)		59		(27)	(76)

Balance Sheets	December 29, 2023	December 30, 2022
	(in millions)
Other current assets:
Transition costs and project assets(1)	$101		$132
Other(2)	388		358
	$489		$490
Other long-term assets:
Transition costs and project assets(1)	$37		$74