L3Harris Technologies, Inc. (LHX) Financial Statements (2024 and earlier)

Company Profile

Business Address 1025 W NASA BLVD
MELBOURNE, FL 32919
State of Incorp. DE
Fiscal Year End December 31
Industry (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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
6/30/2019
6/30/2018
6/30/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8809411,276530288484
Cash and cash equivalents8809411,276530288484
Receivables1,2911,1431,639457735623
Inventory, net of allowances, customer advances and progress billings1,291982973360826751
Inventory1,291982973360925841
Progress payments netted against inventory for long-term contracts or programs     (99)(90)
Contract with customer, asset, after allowance for credit loss2,9873,0212,437807
Disposal group, including discontinued operation 47 35133  
Other current assets258224307100101101
Other undisclosed current assets  48 191273114
Total current assets:6,7546,3596,6672,5782,2232,073
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 155  
Operating lease, right-of-use asset756769766
Property, plant and equipment  3,4922,102894900904
Intangible assets, net (including goodwill)23,28424,82926,7846,2106,3616,470
Goodwill17,28318,18918,8765,3405,3725,366
Intangible assets, net (excluding goodwill)6,0016,6407,9088709891,104
Regulated entity, other noncurrent assets      22
Deferred income tax assets7385119
Other noncurrent assets553566522262239234
Other undisclosed noncurrent assets1,949(1,391) 173116387
Total noncurrent assets:26,77028,35030,2937,5397,6168,017
TOTAL ASSETS:33,52434,70936,96010,1179,83910,090
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,5373,2413,0199771,0921,028
Taxes payable284981531
Employee-related liabilities444496161142140
Accounts payable1,9451,7671,406525622540
Accrued liabilities1,5921,0021,068283313317
Deferred revenue1,4001,2971,198
Debt8201310759382634
Disposal group, including discontinued operation 19 1336 12
Customer advances and deposits 252
Contract with customer, liability496
Other undisclosed current liabilities     314 
Total current liabilities:5,7764,5514,2402,2681,7881,926
Noncurrent Liabilities
Long-term debt and lease obligation, including:6,2257,0486,9082,7633,4083,396
Long-term debt, excluding current maturities6,2257,0486,9082,7633,4083,396
Finance lease, liability 165157 
Other undisclosed long-term debt and lease obligation (165)(925)(734)   
Liabilities, other than long-term debt2,8993,1304,3101,7111,2311,840
Deferred revenue  10773
Deferred tax liabilities, net  34
Deferred income tax liabilities7191,3441,237
Liability, pension and other postretirement and postemployment benefits2626141,9061,1747141,278
Accrued environmental loss contingencies      
Disposal group, including discontinued operation, liabilities      21
Other liabilities1,1771,0651,094537517507
Operating lease, liability741768734
Other undisclosed noncurrent liabilities  6616611290 
Total noncurrent liabilities:9,12410,83911,8794,4864,7295,236
Total liabilities:14,90015,39016,1196,7546,5177,162
Equity
Equity, attributable to parent18,52319,21320,7243,3633,3222,928
Common stock191194208119118120
Additional paid in capital15,67716,24819,0081,7781,7141,741
Accumulated other comprehensive loss(288)(146)(839)(707)(202)(276)
Retained earnings2,9432,9172,3472,1731,6921,343
Equity, attributable to noncontrolling interest101106117   
Total equity:18,62419,31920,8413,3633,3222,928
TOTAL LIABILITIES AND EQUITY:33,52434,70936,96010,1179,83910,090

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
6/30/2019
6/30/2018
6/30/2017
Revenues17,06217,81418,1946,8016,1825,900
Revenue, net 5,900
Cost of revenue
(Cost of Goods and Services Sold)
(12,135)(12,438)(12,886)(4,467)(3,931)(3,811)
Gross profit:4,9275,3765,3082,3342,2512,089
Operating expenses(4,160)(3,607)(4,159)(1,242)(1,129)(1,016)
Other undisclosed operating income1,0591,573    
Operating income:1,8263,3421,1491,0921,1221,073
Nonoperating income (expense)425439401188(28)2
Investment income, nonoperating (18) 162 2
Net periodic defined benefits expense (reversal of expense), excluding service cost component   (389) 
Other nonoperating income (expense)228401 (3) 
Interest and debt expense   (270)(169)(170)(172)
Other undisclosed income from continuing operations before equity method investments, income taxes   42222
Income from continuing operations before equity method investments, income taxes:2,2513,7811,3221,113926905
Other undisclosed loss from continuing operations before income taxes(978)(1,498)    
Income from continuing operations before income taxes:1,2732,2831,3221,113926905
Income tax expense(212)(440)(234)(160)(205)(267)
Income from continuing operations:1,0611,8431,088953721638
Income before gain (loss) on sale of properties:1,8421,086949718553
Loss from discontinued operations  (1)(2)(4)(3)(85)
Net income:1,0611,8421,086949718553
Net income (loss) attributable to noncontrolling interest1433   
Other undisclosed net loss attributable to parent      
Net income attributable to parent:1,0621,8461,119949718553
Undistributed earnings (loss) allocated to participating securities, basic    (2)(2)
Other undisclosed net income available to common stockholders, basic  1243 
Net income available to common stockholders, basic:1,0621,8471,121951719553
Dilutive securities, effect on basic earnings per share      (2)
Net income available to common stockholders, diluted:1,0621,8471,121951719551

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
6/30/2019
6/30/2018
6/30/2017
Net income:1,0611,8421,086949718553
Other comprehensive income (loss)(142)693(331)(505)109167
Comprehensive income:9192,535755444827720
Comprehensive income (loss), net of tax, attributable to noncontrolling interest1433   
Comprehensive income, net of tax, attributable to parent:9202,539788444827720

Statements Sources

The financial statements are based on the Company's filings with 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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