LEIDOS HOLDINGS, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share amounts) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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July 1, |
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June 30, |
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July 1, |
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2017 |
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2016 |
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2017 |
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2016 |
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Revenues |
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$ |
2,571 |
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$ |
1,288 |
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$ |
5,151 |
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$ |
2,600 |
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Cost of revenues |
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2,233 |
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1,141 |
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4,503 |
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2,295 |
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Selling, general and administrative expenses |
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143 |
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56 |
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287 |
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116 |
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Acquisition and integration costs |
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16 |
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15 |
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35 |
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24 |
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Restructuring expenses |
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6 |
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1 |
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19 |
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1 |
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Equity losses of non-consolidated subsidiaries |
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7 |
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— |
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— |
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— |
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Operating income |
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166 |
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75 |
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307 |
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164 |
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Interest income |
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2 |
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2 |
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4 |
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5 |
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Interest expense |
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(36) |
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(15) |
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(74) |
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(29) |
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Other income (expense), net |
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3 |
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(2) |
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6 |
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(2) |
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Income from continuing operations before income taxes |
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135 |
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60 |
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243 |
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138 |
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Income tax expense |
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(37) |
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(19) |
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(71) |
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(44) |
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Net income |
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98 |
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41 |
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172 |
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|
94 |
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Less: net income attributable to non-controlling interest |
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— |
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— |
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2 |
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— |
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Net income attributable to Leidos common stockholders |
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$ |
98 |
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$ |
41 |
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$ |
170 |
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$ |
94 |
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Earnings per share: |
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Basic |
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$ |
0.65 |
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$ |
0.56 |
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$ |
1.13 |
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$ |
1.31 |
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Diluted |
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0.64 |
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0.55 |
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1.11 |
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1.27 |
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Weighted average number of common shares outstanding: |
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Basic |
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151 |
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73 |
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151 |
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72 |
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Diluted |
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153 |
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74 |
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153 |
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74 |
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Cash dividends declared per share |
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$ |
0.32 |
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$ |
0.32 |
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$ |
0.64 |
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$ |
0.64 |
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