Harris Corporation (HRS) financial statements (2020 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
TTM
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
6/30/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 530288484487481561
Cash and cash equivalents 530288484487481561
Receivables 4577356239371,168566
Inventory, net of allowances, customer advances and progress billings 360826751873930619
Inventory 3609258419641,015619
Progress payments netted against inventory for long-term contracts or programs  (99)(90)(91)(85)
Contract with customer, asset 807
Disposal group, including discontinued operation 133     
Income taxes receivable28
Other current assets 100101101144165105
Other undisclosed current assets 191273114167780112
Total current assets: 2,5782,2232,0732,6083,5241,991
Noncurrent Assets
Property, plant and equipment 8949009041,0151,165728
Intangible assets, net (including goodwill) 6,2106,3616,4707,5178,1231,969
Goodwill 5,3405,3725,3665,9756,3481,711
Intangible assets, net (excluding goodwill) 8709891,1041,5421,775258
Regulated entity, other noncurrent assets   222733 
Other noncurrent assets 262239234258154156
Defined benefit plan, assets for plan benefits  7 
Other undisclosed noncurrent assets 17311638757112387
Total noncurrent assets: 7,5397,6168,0179,3889,6052,940
TOTAL ASSETS: 10,1179,83910,09011,99613,1294,931
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 9771,0921,0281,2101,411537
Accounts payable 525622540602581324
Accrued liabilities 283313317428518 
Employee-related liabilities 161142140169255213
Taxes payable 815311157 
Debt 75938263439716360
Deferred compensation liability    8267 
Disposal group, including discontinued operation 36 1230  
Deferred tax liabilities    72
Customer advances and deposits 252319433
Contract with customer, liability496
Other undisclosed current liabilities  314   516
Total current liabilities: 2,2681,7881,9261,9642,2811,115
Noncurrent Liabilities
Long-term debt and lease obligation 2,7633,4083,3964,1205,0531,576
Long-term debt, excluding current maturities 2,7633,4083,3964,1205,0531,576
Liabilities, other than long-term debt 1,7111,2311,8402,8552,393415
Deferred revenue and credits   7184
Accounts payable and accrued liabilities    97 
Deferred tax liabilities, net  34   
Liability, pension and other postretirement and postemployment benefits 1,1747141,2782,2961,943
Disposal group, including discontinued operation, liabilities   21   
Other liabilities 537517507550372332
Other undisclosed noncurrent liabilities 1290    
Total noncurrent liabilities: 4,4864,7295,2366,9757,4461,991
Total liabilities: 6,7546,5177,1628,9399,7273,106
Stockholders' equity
Stockholders' equity attributable to parent 3,3633,3222,9283,0563,3971,826
Common stock 119118120125124106
Additional paid in capital 1,7781,7141,7412,0962,031509
Accumulated other comprehensive loss (707)(202)(276)(495)(16)(15)
Retained earnings 2,1731,6921,3431,3301,2581,226
Stockholders' equity attributable to noncontrolling interest    15(1)
Total stockholders' equity: 3,3633,3222,9283,0573,4021,825
TOTAL LIABILITIES AND EQUITY: 10,1179,83910,09011,99613,1294,931

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

9/30/2019
TTM
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
6/30/2014
Revenues 6,8016,1825,9007,4675,0835,012
Revenue, net 5,9007,4675,0835,012
Cost of revenue
(Cost of Goods and Services Sold)
 (4,467)(3,931)(3,811)(5,132)(3,362)(3,311)
Gross profit: 2,3342,2512,0892,3351,7211,702
Operating expenses (1,242)(1,129)(1,016)(1,186)(1,008)(820)
Operating income: 1,0921,1221,0731,149713882
Nonoperating income (expense) 188(28)210(108)4
Investment income, nonoperating 2 2223
Interest and debt expense (169)(170)(172)(183)(248)(94)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 222(365)1203
Income from continuing operations before income taxes: 1,113926905611477795
Income tax expense (160)(205)(267)(266)(143)(256)
Income from continuing operations: 953721638345334539
Income (loss) from discontinued operations (4)(3)(85)(21)10(5)
Income before gain (loss) on sale of properties: 949718553324344534
Other undisclosed net loss     (10) 
Net income: 949718553324334534
Net income attributable to noncontrolling interest      1
Net income attributable to parent: 949718553324334535
Undistributed earnings (loss) allocated to participating securities, basic (2)(2)
Other undisclosed net income available to common stockholders, basic 43    
Net income available to common stockholders, basic: 951719553324334535
Dilutive securities, effect on basic earnings per share   (2)   
Net income available to common stockholders, diluted: 951719551324334535

Comprehensive Income ($ in millions)

9/30/2019
TTM
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
6/30/2014
Net income: 949718553324334534
Other comprehensive income (loss) (505)109167(479)(1)44
Comprehensive income (loss): 444827720(155)333578
Comprehensive loss, net of tax, attributable to noncontrolling interest      (1)
Other undisclosed comprehensive income, net of tax, attributable to parent      1
Comprehensive income (loss), net of tax, attributable to parent: 444827720(155)333579

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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