(in millions, except percentages)
The following table presents the reconciliation of non-GAAP free cash flow to net cash provided by operating activities as well as the calculation of operating cash flow and non-GAAP free cash flow conversion ratios:
|
| Three Months Ended | ||
|
| September 27, 2024 |
| September 29, 2023 |
Net cash provided by operating activities |
| $ 656 |
| $ 795 |
Payments for property, equipment and software |
| (23) |
| (50) |
Non-GAAP free cash flow |
| $ 633 |
| $ 745 |
|
|
|
|
|
Net income (loss) attributable to Leidos common stockholders |
| $ 364 |
| $ (399) |
Acquisition, integration and restructuring costs(1)(2)(3) |
| 2 |
| 13 |
Amortization of acquired intangibles(1)(3) |
| 28 |
| 38 |
Goodwill impairment charges(2)(3) |
| — |
| 571 |
Asset impairment charges(2)(3) |
| 4 |
| 57 |
Non-GAAP net income attributable to Leidos common stockholders |
| $ 398 |
| $ 280 |
|
|
|
|
|
Operating cash flow conversion ratio |
| 180 % |
| (199) % |
Non-GAAP free cash flow conversion ratio |
| 159 % |
| 266 % |
|
(1) After-tax expenses excluded from non-GAAP net income. |
(2) Asset markdowns associated with restructuring activities were recorded to "Cost of revenues" in the condensed consolidated statements of operations. |
(3) Non-GAAP tax rates were revised for the three months ended September 29, 2023, from using a blended rate to an individual tax rate for each non-GAAP adjustment, as this approach better reflects the allocation of the tax adjustment. |
View original content: https://www.prnewswire.com/news-releases/leidos-reports-strong-third-quarter-2024-results-and-raises-full-year-guidance-302289156.html
SOURCE Leidos
Contact: |
Company Name: Leidos
Financial data for Leidos |