L3Harris Technologies, Inc. (LHX) financial statements (2022 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)

12/31/2021
12/31/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9411,276530288484487481
Cash and cash equivalents9411,276530288484487481
Receivables1,1431,6394577356239371,168
Inventory, net of allowances, customer advances and progress billings982973360826751873930
Inventory9829733609258419641,015
Progress payments netted against inventory for long-term contracts or programs   (99)(90)(91)(85)
Contract with customer, asset3,0212,437807
Disposal group, including discontinued operation 35133    
Other current assets224307100101101144165
Other undisclosed current assets48 191273114167780
Total current assets:6,3596,6672,5782,2232,0732,6083,524
Noncurrent Assets
Operating lease, right-of-use asset769766
Property, plant and equipment3,4922,1028949009041,0151,165
Intangible assets, net (including goodwill)24,82926,7846,2106,3616,4707,5178,123
Goodwill18,18918,8765,3405,3725,3665,9756,348
Intangible assets, net (excluding goodwill)6,6407,9088709891,1041,5421,775
Regulated entity, other noncurrent assets    222733
Deferred income tax assets85119
Other noncurrent assets566522262239234258154
Defined benefit plan, assets for plan benefits  7
Other undisclosed noncurrent assets(1,391) 173116387571123
Total noncurrent assets:28,35030,2937,5397,6168,0179,3889,605
TOTAL ASSETS:34,70936,96010,1179,83910,09011,99613,129
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,2413,0199771,0921,0281,2101,411
Accounts payable1,7671,406525622540602581
Accrued liabilities1,0021,068283313317428518
Employee-related liabilities444496161142140169255
Taxes payable2849815311157
Deferred revenue1,2971,198
Debt1310759382634397163
Deferred compensation liability     8267
Disposal group, including discontinued operation 1336 1230 
Deferred tax liabilities    7
Customer advances and deposits 252319433
Contract with customer, liability496
Other undisclosed current liabilities   314   
Total current liabilities:4,5514,2402,2681,7881,9261,9642,281
Noncurrent Liabilities
Long-term debt and lease obligation, including:7,0486,9082,7633,4083,3964,1205,053
Long-term debt, excluding current maturities7,0486,9082,7633,4083,3964,1205,053
Finance lease, liability157 
Operating lease, liability768734
Other undisclosed long-term debt and lease obligation(925)(734)     
Liabilities, other than long-term debt3,1304,3101,7111,2311,8402,8552,393
Deferred revenue and credits   71
Accounts payable and accrued liabilities     97
Deferred revenue10773
Deferred tax liabilities, net  34  
Deferred income tax liabilities1,3441,237
Liability, pension and other postretirement and postemployment benefits6141,9061,1747141,2782,2961,943
Disposal group, including discontinued operation, liabilities    21  
Other liabilities1,0651,094537517507550372
Other undisclosed noncurrent liabilities6616611290   
Total noncurrent liabilities:10,83911,8794,4864,7295,2366,9757,446
Total liabilities:15,39016,1196,7546,5177,1628,9399,727
Stockholders' equity
Stockholders' equity attributable to parent19,21320,7243,3633,3222,9283,0563,397
Common stock194208119118120125124
Additional paid in capital16,24819,0081,7781,7141,7412,0962,031
Accumulated other comprehensive loss(146)(839)(707)(202)(276)(495)(16)
Retained earnings2,9172,3472,1731,6921,3431,3301,258
Stockholders' equity attributable to noncontrolling interest106117   15
Total stockholders' equity:19,31920,8413,3633,3222,9283,0573,402
TOTAL LIABILITIES AND EQUITY:34,70936,96010,1179,83910,09011,99613,129

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

12/31/2021
12/31/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
Revenues17,81418,1946,8016,1825,9007,4675,083
Revenue, net 5,9007,4675,083
Cost of revenue
(Cost of Goods and Services Sold)
(12,438)(12,886)(4,467)(3,931)(3,811)(5,132)(3,362)
Gross profit:5,3765,3082,3342,2512,0892,3351,721
Operating expenses(3,607)(4,159)(1,242)(1,129)(1,016)(1,186)(1,008)
Other undisclosed operating income1,573      
Operating income:3,3421,1491,0921,1221,0731,149713
Nonoperating income (expense)439401188(28)210(108)
Investment income, nonoperating 162 222
Net periodic defined benefits expense (reversal of expense), excluding service cost component (389) 
Other nonoperating income (expense)28401 (3)   
Interest and debt expense (270)(169)(170)(172)(183)(248)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 42222(365)120
Income from continuing operations before equity method investments, income taxes:3,7811,3221,113926905611477
Other undisclosed loss from continuing operations before income taxes(1,498)      
Income from continuing operations before income taxes:2,2831,3221,113926905611477
Income tax expense(440)(234)(160)(205)(267)(266)(143)
Income from continuing operations:1,8431,088953721638345334
Income (loss) from discontinued operations(1)(2)(4)(3)(85)(21)10
Income before gain (loss) on sale of properties:1,8421,086949718553324344
Other undisclosed net loss      (10)
Net income:1,8421,086949718553324334
Net income attributable to noncontrolling interest433     
Net income attributable to parent:1,8461,119949718553324334
Undistributed earnings (loss) allocated to participating securities, basic  (2)(2)
Other undisclosed net income available to common stockholders, basic1243   
Net income available to common stockholders, basic:1,8471,121951719553324334
Dilutive securities, effect on basic earnings per share    (2)  
Net income available to common stockholders, diluted:1,8471,121951719551324334

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
Net income:1,8421,086949718553324334
Other comprehensive income (loss)693(331)(505)109167(479)(1)
Comprehensive income (loss):2,535755444827720(155)333
Comprehensive income, net of tax, attributable to noncontrolling interest433     
Comprehensive income (loss), net of tax, attributable to parent:2,539788444827720(155)333

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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