Harris Corporation (HRS) financial statements (2021 and earlier)

Company profile

Business Address 1025 W NASA BLVD
MELBOURNE, FL 32919
State of Incorp. DE
Fiscal Year End December 31
SIC 3812 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical Systems and Instruments (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

9/30/2019
Q1
6/30/2019
Q4
3/31/2019
Q3
12/31/2018
Q2
9/30/2018
Q1
6/30/2018
Q4
3/31/2018
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,001530334343305288443
Cash and cash equivalents1,001530334343305288443
Receivables1,275457453494432735743
Inventory, net of allowances, customer advances and progress billings1,339360433425413826874
Inventory1,339360433425413925963
Progress payments netted against inventory for long-term contracts or programs     (99)(89)
Contract with customer, asset2,625807881829870  
Disposal group, including discontinued operation 133     
Other current assets496100107118117101116
Other undisclosed current assets29119177102151273238
Total current assets:7,0272,5782,2852,3112,2882,2232,414
Noncurrent Assets
Operating lease, right-of-use asset934  
Property, plant and equipment2,073894904901898900879
Intangible assets, net (including goodwill)28,2656,2106,2736,3006,3336,3616,396
Goodwill20,7495,3405,3715,3705,3735,3725,377
Intangible assets, net (excluding goodwill)7,5168709029309609891,019
Deferred income tax assets124173 
Other noncurrent assets524262239241253239232
Other undisclosed noncurrent assets  9199117116149
Total noncurrent assets:31,9207,5397,5077,5417,6017,6167,656
TOTAL ASSETS:38,94710,1179,7929,8529,8899,83910,070
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,8499771,0319359471,0921,022
Accounts payable1,423525523521480622494
Accrued liabilities881283316275321313354
Employee-related liabilities521161176128125142152
Taxes payable2481611211522
Deferred revenue1,210496 
Debt659759109408599382828
Disposal group, including discontinued operation 36     
Customer advances and deposits296
Contract with customer, liability466479410  
Other undisclosed current liabilities     314 
Total current liabilities:4,7182,2681,6061,8221,9561,7882,146
Noncurrent Liabilities
Long-term debt and lease obligation, including:6,3072,7633,4123,4113,4103,4083,391
Long-term debt, excluding current maturities6,3072,763   3,4083,391
Operating lease, liability831  
Other undisclosed long-term debt and lease obligation(831) 3,4123,4113,410  
Liabilities, other than long-term debt4,2461,7231,1201,1541,2001,2311,396
Deferred revenue80  
Contract with customer, liability1275  
Deferred tax liabilities, net   49
Deferred income tax liabilities1,19212 
Liability, pension and other postretirement and postemployment benefits2,1451,174601635674714868
Other liabilities829537507512521517479
Other undisclosed noncurrent liabilities751 47537990 
Total noncurrent liabilities:11,3044,4864,5794,6184,6894,7294,787
Total liabilities:16,0226,7546,1856,4406,6456,5176,933
Stockholders' equity
Stockholders' equity attributable to parent22,7733,3633,6073,4123,2443,3223,137
Common stock222119118118118118119
Additional paid in capital21,2881,7781,7201,6811,6481,7141,724
Accumulated other comprehensive loss(756)(707)(217)(211)(202)(202)(249)
Retained earnings2,0192,1731,9861,8241,6801,6921,543
Stockholders' equity attributable to noncontrolling interest152      
Total stockholders' equity:22,9253,3633,6073,4123,2443,3223,137
TOTAL LIABILITIES AND EQUITY:38,94710,1179,7929,8529,8899,83910,070

Income statement (P&L) ($ in millions)

9/30/2019
Q1
6/30/2019
Q4
3/31/2019
Q3
12/31/2018
Q2
9/30/2018
Q1
6/30/2018
Q4
3/31/2018
Q3
Revenues4,4311,8651,7281,6661,5421,6661,568
Revenue, net1,568
Cost of revenue
(Cost of Goods and Services Sold)
(3,242)(1,223)(1,139)(1,095)(1,010)(1,027)(1,007)
Gross profit:1,189642589571532639561
Operating expenses(999)(349)(310)(304)(279)(317)(305)
Operating income:190293279267253322256
Nonoperating income (expense)7948464747(26) 
Interest and debt expense(67)(39)(43)(43)(44)(46)(41)
Other undisclosed income from continuing operations before equity method investments, income taxes238 1 11 
Income from continuing operations before income taxes:440302283271257251215
Income tax expense(5)(33)(40)(46)(41)(39)(12)
Income from continuing operations:435269243225216212203
Income (loss) from discontinued operations (1)  (3)5(2)
Net income:435268243225213217201
Net loss attributable to noncontrolling interest(6)      
Net income attributable to parent:429268243225213217201
Undistributed earnings (loss) allocated to participating securities, basic (1)(1) (1)(1)(1)
Other undisclosed net income (loss) available to common stockholders, basic 1  3(5)2
Net income available to common stockholders, diluted:429268242225215211202

Comprehensive Income ($ in millions)

9/30/2019
Q1
6/30/2019
Q4
3/31/2019
Q3
12/31/2018
Q2
9/30/2018
Q1
6/30/2018
Q4
3/31/2018
Q3
Net income:435268243225213217201
Other comprehensive income (loss)(63)(476) (9)(28)825
Comprehensive income (loss):372(208)243216185299206
Comprehensive loss, net of tax, attributable to noncontrolling interest(6)      
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (14)(6) 28  
Comprehensive income (loss), net of tax, attributable to parent:366(222)237216213299206

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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