← Filings of LDOS
Tables in the 10-Q of Leidos Holdings, Inc.
41 tables with numbers, filed May 6, 2025. 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 ↗
| Part I | | Page |
| Item 1. | Financial Statements (Unaudited) | 1 |
| Condensed Consolidated Balance Sheets | 1 |
| Condensed Consolidated Statements of Operations | 2 |
| Condensed Consolidated Statements of Comprehensive Income | 3 |
| Condensed Consolidated Statements of Equity | 4 |
| Condensed Consolidated Statements of Cash Flows | 5 |
| Notes to Condensed Consolidated Financial Statements | 7 |
First 8 of 41 rows. The CSV has all of them.
Table 2 after “CONDENSED CONSOLIDATED BALANCE SHEETS”
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| (unaudited; in millions, except share and per share data) | April 4, 2025 | January 3, 2025 | |
| Assets: | | | |
| Cash and cash equivalents | $842 | | $849 |
| Receivables, net | 2,906 | | 2,645 |
| Inventory, net | 347 | | 315 |
| Other current assets | 454 | | 525 |
| Total current assets | 4,549 | | 4,334 |
| Property, plant and equipment, net | 977 | | 991 |
First 8 of 32 rows. The CSV has all of them.
Table 3 after “CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS”
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| Three Months Ended | | |
| (unaudited; in millions, except per share data) | April 4, 2025 | March 29, 2024 | |
| Revenues | $4,245 | | $3,975 |
| Cost of revenues | 3,488 | | 3,337 |
| Selling, general and administrative expenses | 230 | | 226 |
| Acquisition, integration and restructuring costs | 4 | | 4 |
| Equity earnings of non-consolidated subsidiaries | (7) | | (7) |
| Operating income | 530 | | 415 |
First 8 of 19 rows. The CSV has all of them.
Table 4 after “CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME”
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| Three Months Ended | | |
| (unaudited; in millions) | April 4, 2025 | March 29, 2024 | |
| Net income | $365 | | $283 |
| Foreign currency translation adjustments | 28 | | (27) |
| Unrecognized (loss) gain on derivative instruments | (1) | | 2 |
| Pension adjustments | — | | 1 |
| Total other comprehensive income (loss), net of taxes | 27 | | (24) |
| Comprehensive income | 392 | | 259 |
First 8 of 10 rows. The CSV has all of them.
Table 5 after “CONDENSED CONSOLIDATED STATEMENTS OF EQUITY”
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| (unaudited; in millions, except per share data) | Shares of common stock | Additional paid-in capital | | Retained earnings | | Accumulated other comprehensive income (loss) | Leidos stockholders' equity | | Non-controlling interest | | Total stockholders' equity | | | | |
| Balance at January 3, 2025 | 131 | | $1,112 | | | $3,410 | | $(110) | | | $4,412 | | $48 | | $4,460 |
| Net income | — | | — | | | 363 | | — | | | 363 | | 2 | | 365 |
| Other comprehensive income, net of taxes | — | | — | | | — | | 27 | | | 27 | | — | | 27 |
| Issuances of stock | 1 | | 17 | | | — | | — | | | 17 | | — | | 17 |
| Repurchases of stock and other | (3) | | (531) | | | — | | — | | | (531) | | — | | (531) |
| Dividends of $0.40 per share | — | | | | (52) | | — | | | (52) | | — | | (52) | |
| Stock-based compensation | — | | 21 | | | — | | — | | | 21 | | — | | 21 |
First 8 of 10 rows. The CSV has all of them.
Table 6 after “CONDENSED CONSOLIDATED STATEMENTS OF EQUITY”
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| (unaudited; in millions, except per share data) | Shares of common stock | Additional paid-in capital | | Retained earnings | Accumulated other comprehensive income (loss) | Leidos stockholders' equity | | Non-controlling interest | Total stockholders' equity | | |
| Balance at December 29, 2023 | 136 | | $1,885 | | $2,364 | | $(48) | | $4,201 | $57 | $4,258 |
| Net income (loss) | — | | — | | 284 | | — | | 284 | (1) | 283 |
| Other comprehensive loss, net of taxes | — | | — | | — | | (24) | | (24) | — | (24) |
| Issuances of stock | — | | 14 | | — | | — | | 14 | — | 14 |
| Repurchases of stock and other | (1) | | (184) | | — | | — | | (184) | — | (184) |
| Dividends of $0.38 per share | — | | — | | (53) | | — | | (53) | — | (53) |
| Stock-based compensation | — | | 20 | | — | | — | | 20 | — | 20 |
First 8 of 10 rows. The CSV has all of them.
Table 7 after “CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS”
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| Three Months Ended | | |
| (unaudited; in millions) | April 4, 2025 | March 29, 2024 | |
| Cash flows from operations: | | | |
| Net income | $365 | | $283 |
| Adjustments to reconcile net income to net cash provided by operations: | | | |
| Depreciation and amortization | 69 | | 69 |
| Stock-based compensation | 21 | | 20 |
| Deferred income taxes | (24) | | (25) |
First 8 of 35 rows. The CSV has all of them.
Table 8 after “CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [CONTINUED]”
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| Three Months Ended | | |
| (unaudited; in millions) | April 4, 2025 | March 29, 2024 | |
| Supplementary cash flow information: | | | |
| Cash paid for income taxes, net of refunds | $(4) | | $2 |
| Cash paid for interest | 51 | | 61 |
| Non-cash investing activity: | | | |
| Property, plant and equipment additions | $— | | $35 |
Table 9 after “Changes in estimates on contracts were as follows:”
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| Three Months Ended | | |
| (in millions, except per share data) | April 4, 2025 | March 29, 2024 | |
| Favorable impact | $53 | | $25 |
| Unfavorable impact | (23) | | (25) |
| Net impact to income before income taxes | $30 | | $— |
| Impact on diluted EPS attributable to Leidos common stockholders | $0.17 | | $— |
Table 10 after “Disaggregated revenues by customer-type were as follows:”
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| Three Months Ended April 4, 2025 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| DoD and U.S. Intelligence Community | $1,326 | | $269 | | $10 | | $454 | $2,059 |
| Other U.S. government agencies(1) | 516 | | 999 | | 97 | | 24 | 1,636 |
| Commercial and non-U.S. customers | 25 | | 18 | | 460 | | 30 | 533 |
| Total | $1,867 | | $1,286 | | $567 | | $508 | $4,228 |
Table 11 after “Disaggregated revenues by customer-type were as follows:”
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| Three Months Ended March 29, 2024 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| DoD and U.S. Intelligence Community | $1,221 | | $257 | | $10 | | $425 | $1,913 |
| Other U.S. government agencies(1) | 525 | | 917 | | 73 | | 22 | 1,537 |
| Commercial and non-U.S. customers | 33 | | 16 | | 425 | | 27 | 501 |
| Total | $1,779 | | $1,190 | | $508 | | $474 | $3,951 |
Table 12 after “Disaggregated revenues by contract-type were as follows:”
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| Three Months Ended April 4, 2025 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| Cost-reimbursement and fixed-price-incentive-fee | $1,013 | | $471 | | $95 | | $309 | $1,888 |
| Firm-fixed-price | 497 | | 759 | | 359 | | 154 | 1,769 |
| Time-and-materials and fixed-price-level-of-effort | 357 | | 56 | | 113 | | 45 | 571 |
| Total | $1,867 | | $1,286 | | $567 | | $508 | $4,228 |
Table 13 after “Disaggregated revenues by contract-type were as follows:”
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| Three Months Ended March 29, 2024 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| Cost-reimbursement and fixed-price-incentive-fee | $946 | | $447 | | $85 | | $301 | $1,779 |
| Firm-fixed-price | 492 | | 690 | | 319 | | 139 | 1,640 |
| Time-and-materials and fixed-price-level-of-effort | 341 | | 53 | | 104 | | 34 | 532 |
| Total | $1,779 | | $1,190 | | $508 | | $474 | $3,951 |
Table 14 after “Disaggregated revenues by geographic location were as follows:”
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| Three Months Ended April 4, 2025 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| United States | $1,859 | | $1,285 | | $238 | | $499 | $3,881 |
| International | 8 | | 1 | | 329 | | 9 | 347 |
| Total | $1,867 | | $1,286 | | $567 | | $508 | $4,228 |
Table 15 after “Disaggregated revenues by geographic location were as follows:”
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| Three Months Ended March 29, 2024 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| United States | $1,770 | | $1,189 | | $208 | | $468 | $3,635 |
| International | 9 | | 1 | | 300 | | 6 | 316 |
| Total | $1,779 | | $1,190 | | $508 | | $474 | $3,951 |
Table 16 after “The components of contract assets and contract liabilities consisted of the following:”
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| (in millions) | Balance sheet line item | April 4, 2025 | January 3, 2025 | |
| Contract assets - current: | | | | |
| Unbilled receivables | Receivables, net | $865 | | $842 |
| Contract liabilities - current: | | | | |
| Deferred revenue(1) | Accounts payable and accrued liabilities | $368 | | $333 |
| Contract liabilities - non-current: | | | | |
| Deferred revenue(1) | Other long-term liabilities | $8 | | $10 |
Table 17 after “The following table presents changes in the carrying amount of goodwill by reportable segment:”
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| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| Goodwill at December 29, 2023(1) | $2,758 | | $1,366 | | $800 | | $1,188 | $6,112 |
| Foreign currency translation adjustments | — | | — | | (28) | | — | (28) |
| Goodwill at January 3, 2025(1) | 2,758 | | 1,366 | | 772 | | 1,188 | 6,084 |
| Foreign currency translation adjustments | — | | — | | 14 | | — | 14 |
| Goodwill at April 4, 2025(1) | $2,758 | | $1,366 | | $786 | | $1,188 | $6,098 |
Table 18 after “Intangible assets, net consisted of the following:”
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| April 4, 2025 | January 3, 2025 | | | | | | | | |
| (in millions) | Gross carrying value | Accumulated amortization | | Net carrying value | Gross carrying value | Accumulated amortization | | Net carrying value | | |
| Finite-lived intangible assets: | | | | | | | | | | |
| Programs | $1,687 | | $(1,317) | | $370 | | $1,686 | | $(1,293) | $393 |
| Software and technology | 262 | | (171) | | 91 | | 261 | | (165) | 96 |
| Customer relationships | 53 | | (29) | | 24 | | 52 | | (28) | 24 |
| Total finite-lived intangible assets | 2,002 | | (1,517) | | 485 | | 1,999 | | (1,486) | 513 |
| Indefinite-lived intangible assets: | | | | | | | | | | |
First 8 of 10 rows. The CSV has all of them.
Table 19 after “The estimated annual amortization expense as of April 4, 2025, was as follows:”
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| Fiscal year ending (in millions) | |
| 2025 (remainder of year) | $90 |
| 2026 | 98 |
| 2027 | 72 |
| 2028 | 62 |
| 2029 | 53 |
| 2030 and thereafter | 110 |
| $485 |
Table 20 after “The financial instruments measured at fair value on a recurring basis primarily consisted of the following:”
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| April 4, 2025 | January 3, 2025 | | | | |
| (in millions) | Carrying value | Fair value | | Carrying value | Fair value | |
| Financial assets: | | | | | | |
| Derivatives | $3 | | $3 | | $4 | $4 |
Table 21 after “The fair value of the interest rate swaps was as follows:”
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| (in millions) | Balance sheet line item | April 4, 2025 | January 3, 2025 | |
| Cash flow interest rate swaps | Other current assets | $3 | | $4 |
Table 22 after “The effect of the cash flow hedges on other comprehensive income (loss) and earnings for the periods presented was as follows:”
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| Three Months Ended | | |
| (in millions) | April 4, 2025 | March 29, 2024 | |
| Total interest expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded | $49 | | $49 |
| Amount recognized in other comprehensive income | — | | 5 |
| Amount reclassified from accumulated other comprehensive loss to interest expense, net | (1) | | (3) |
Table 23 after “Our debt consisted of the following:”
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| (in millions) | Stated interest rate | Effective interest rate | | April 4, 2025 | January 3, 2025 | | |
| Senior unsecured term loan: | | | | | | | |
| $1,000 million term loan, due March 2028 | 5.67% | | 5.84% | | $975 | | $1,000 |
| Senior unsecured notes: | | | | | | | |
| $500 million notes, due May 2025 | 3.63% | | 3.76% | | — | | 500 |
| $750 million notes, due May 2030 | 4.38% | | 4.50% | | 750 | | 750 |
| $1,000 million notes, due February 2031 | 2.30% | | 2.38% | | 1,000 | | 1,000 |
| $500 million notes, due March 2032 | 5.40% | | 5.42% | | 500 | | — |
First 8 of 18 rows. The CSV has all of them.
Table 24 after “Future minimum payments of debt are as follows:”
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| Fiscal Year Ending (in millions) | |
| 2025 (remainder of year) | $90 |
| 2026 | 120 |
| 2027 | 114 |
| 2028 | 705 |
| 2029 | 5 |
| 2030 and thereafter | 4,139 |
| Total principal payments | 5,173 |
First 8 of 10 rows. The CSV has all of them.
Table 25 after “Changes in the components of Accumulated Other Comprehensive Income (Loss) ("AOCI") were as follows:”
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| (in millions) | Foreign currency translation adjustments | Unrecognized gain (loss) on derivative instruments | | Pension adjustments | Total AOCI | |
| Balance at December 29, 2023 | $(39) | | $5 | | $(14) | $(48) |
| Other comprehensive income (loss) | (64) | | 5 | | 2 | (57) |
| Taxes | 5 | | 2 | | (1) | 6 |
| Reclassification from AOCI | — | | (11) | | — | (11) |
| Balance at January 3, 2025 | (98) | | 1 | | (13) | (110) |
| Other comprehensive income | 30 | | — | | — | 30 |
| Taxes | (2) | | — | | — | (2) |
First 8 of 10 rows. The CSV has all of them.
Table 26 after “The following table provides a reconciliation of the weighted average number of shares outstanding used to compute basic and diluted EPS for”
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| Three Months Ended | |
| (in millions) | April 4, 2025 | March 29, 2024 |
| Basic weighted average number of shares outstanding | 130 | 136 |
| Dilutive common share equivalents—stock options and other stock awards | 1 | 1 |
| Diluted weighted average number of shares outstanding | 131 | 137 |
Table 27 after “The following table summarizes business segment information for the periods presented:”
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| Three Months Ended April 4, 2025 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| Revenues | $1,878 | | $1,291 | | $568 | | $508 | $4,245 |
| Less: | | | | | | | | |
| Direct labor | 503 | | 244 | | 103 | | 109 | 959 |
| Amortization of intangible assets | 5 | | 6 | | 7 | | 12 | 30 |
| Other segment expense | 1,185 | | 742 | | 421 | | 353 | 2,701 |
| Segment operating income | $185 | | $299 | | $37 | | $34 | $555 |
First 8 of 10 rows. The CSV has all of them.
Table 28 after “The following table summarizes business segment information for the periods presented:”
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| Three Months Ended March 29, 2024 | | | | | | | |
| (in millions) | National Security & Digital | Health & Civil | | Commercial & International | Defense Systems | Total | | |
| Revenues | $1,793 | | $1,199 | | $509 | | $474 | $3,975 |
| Less: | | | | | | | | |
| Direct labor | 479 | | 236 | | 100 | | 101 | 916 |
| Amortization of intangible assets | 6 | | 6 | | 8 | | 17 | 37 |
| Other segment expense | 1,133 | | 735 | | 367 | | 335 | 2,570 |
| Segment operating income | $175 | | $222 | | $34 | | $21 | $452 |
First 8 of 10 rows. The CSV has all of them.
Table 29 after “As of April 4, 2025, the future expirations of the outstanding letters of credit and surety bonds were as follows:”
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| Fiscal year ending (in millions) | |
| 2025 (remainder of year) | $125 |
| 2026 | 16 |
| 2027 | 42 |
| 2028 | 14 |
| 2029 | 7 |
| 2030 and thereafter | 2 |
| $206 |
Table 30 after “The following table summarizes our condensed consolidated results of operations for the periods presented:”
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| Three Months Ended | | | | |
| (dollars in millions) | April 4, 2025 | March 29, 2024 | | Percent change | |
| Revenues | $4,245 | | $3,975 | | 6.8% |
| Operating income | 530 | | 415 | | 27.7% |
| Non-operating expense, net | (52) | | (47) | | 10.6% |
| Income before income taxes | 478 | | 368 | | 29.9% |
| Income tax expense | (113) | | (85) | | 32.9% |
| Net income | 365 | | 283 | | 29.0% |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended | | | | |
| National Security & Digital(dollars in millions) | April 4, 2025 | March 29, 2024 | | Percent change | |
| Revenues | $1,878 | | $1,793 | | 4.7% |
| Operating income | 185 | | 175 | | 5.7% |
| Operating margin | 9.9% | | 9.8% | | |
| Three Months Ended | | | | |
| Health & Civil(dollars in millions) | April 4, 2025 | March 29, 2024 | | Percent change | |
| Revenues | $1,291 | | $1,199 | | 7.7% |
| Operating income | 299 | | 222 | | 34.7% |
| Operating margin | 23.2% | | 18.5% | | |
Table 33 after “The increase in revenues and operating income for the three months ended April 4, 2025, as compared to the three months ended March 29, 2024”
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| Three Months Ended | | | | |
| Commercial & International(dollars in millions) | April 4, 2025 | March 29, 2024 | | Percent change | |
| Revenues | $568 | | $509 | | 11.6% |
| Operating income | 37 | | 34 | | 8.8% |
| Operating margin | 6.5% | | 6.7% | | |
Table 34 after “The increase in revenues and operating income for the three months ended April 4, 2025, as compared to the three months ended March 29, 2024”
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| Three Months Ended | | | | |
| Defense Systems(dollars in millions) | April 4, 2025 | March 29, 2024 | | Percent change | |
| Revenues | $508 | | $474 | | 7.2% |
| Operating income | 34 | | 21 | | 61.9% |
| Operating margin | 6.7% | | 4.4% | | |
Table 35 after “The increase in operating income for the three months ended April 4, 2025, as compared to the three months ended March 29, 2024, was primari”
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| Three Months Ended | | | | |
| Corporate(dollars in millions) | April 4, 2025 | March 29, 2024 | | Percent change | |
| Operating loss | $(25) | | $(37) | | (32.4%) |
Table 36 after “The estimated value of our total backlog was as follows:”
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| April 4, 2025 | March 29, 2024(1) | | | | | | | | |
| (in millions) | Funded | Unfunded | | Total | Funded | Unfunded | | Total | | |
| National Security & Digital | $2,733 | | $21,601 | | $24,334 | | $2,411 | | $19,616 | $22,027 |
| Health & Civil | 991 | | 10,290 | | 11,281 | | 1,953 | | 8,956 | 10,909 |
| Commercial & International | 2,267 | | 2,847 | | 5,114 | | 2,465 | | 2,071 | 4,536 |
| Defense Systems | 1,338 | | 4,229 | | 5,567 | | 1,136 | | 3,075 | 4,211 |
| Total | $7,329 | | $38,967 | | $46,296 | | $7,965 | | $33,718 | $41,683 |
Table 37 after “The following table summarizes cash flow information for the periods presented:”
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| Three Months Ended | | |
| (in millions) | April 4, 2025 | March 29, 2024 | |
| Net cash provided by operating activities(1) | $58 | | $113 |
| Net cash used in investing activities | (22) | | (12) |
| Net cash used in financing activities | (110) | | (228) |
Table 38 after “BALANCE SHEET INFORMATION FOR THE GUARANTOR AND ISSUER OF REGISTERED NOTES”
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| (in millions) | April 4, 2025 | January 3, 2025 | |
| Total current assets | $2,639 | | $2,550 |
| Goodwill | 5,673 | | 5,673 |
| Other long-term assets | 1,502 | | 1,498 |
| Total assets | $9,814 | | $9,721 |
| Total current liabilities | $2,051 | | $2,677 |
| Long-term debt, net of current portion | 5,014 | | 4,052 |
| Intercompany payables | 3,540 | | 3,319 |
First 8 of 10 rows. The CSV has all of them.
Table 39 after “STATEMENT OF OPERATIONS INFORMATION FOR THE GUARANTOR AND ISSUER OF REGISTERED NOTES”
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| Three Months Ended |
| (in millions) | April 4, 2025 |
| Revenues, net | $2,698 |
| Operating income | 235 |
| Net income attributable to Leidos common stockholders | 32 |
Table 40 after “The following table presents information related to the repurchases of our common stock during the quarter ended April 4, 2025.”
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| Period | Total Numberof Shares(1)(or Units)Purchased | Average Price Paid per Share (or Unit) | | Total Number ofShares (or Units)Purchased as Part ofPublicly AnnouncedRepurchase Plansor Programs(2) | Maximum Numberof Shares (or Units)that May Yet BePurchased Under thePlans or Programs(2) | |
| January 4, 2025 - January 31, 2025 | — | | $— | | — | 7,405,410 |
| February 1, 2025 - February 28, 2025 | 3,041,825 | | 131.50 | | 3,041,825 | 4,363,585 |
| March 1 - March 31, 2025 | 1,222 | | 133.83 | | — | 4,363,585 |
| April 1, 2025 - April 4, 2025 | — | | — | | — | 4,363,585 |
| Total | 3,043,047 | | $131.50 | | 3,041,825 | |
| Exhibit Number | Description of Exhibit |
| 4.1 | Officers' Certificate of Leidos, Inc., dated as of February 13, 2025. Incorporated by reference to Exhibit 4.1 to our Current Report on Form 8-K filed with the SEC on February 20, 2025. |
| 4.2 | Form of Global Note representing Leidos, Inc.'s 5.400% Notes due 2032. Included in Exhibit 4.1 and incorporated by reference to Exhibit 4.2 to our Current Report on Form 8-K filed with the SEC on February 20, 2025. |
| 4.3 | Form of Global Note representing Leidos, Inc.'s 5.500% Notes due 2035. Included in Exhibit 4.1 and incorporated by reference to Exhibit 4.3 to our Current Report on Form 8-K filed with the SEC on February 20, 2025. |
| 18 | Letter regarding change in accounting principles. |
| 22 | List of Guarantors and Subsidiary Issuers of Guaranteed Securities. |
| 31.1 | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 31.2 | Certification of Executive Vice President and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
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