v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Oct. 01, 2021
Sep. 30, 2022
Oct. 01, 2021
Income Statement [Abstract]        
Revenues $ 3,608 $ 3,483 $ 10,699 $ 10,246
Cost of revenues 3,095 2,942 9,136 8,740
Selling, general and administrative expenses 233 233 727 625
Bad debt expense (recoveries) (1) (1) 3 (11)
Acquisition, integration and restructuring costs 4 6 12 21
Asset impairment charges 0 3 3 3
Equity earnings of non-consolidated subsidiaries (4) (5) (5) (14)
Operating income 281 305 823 882
Non-operating expense:        
Interest expense, net (50) (47) (148) (138)
Other (expense) income, net (10) 2 (7) 1
Income before income taxes 221 260 668 745
Income tax expense (57) (52) (155) (162)
Net income 164 208 513 583
Less: net income attributable to non-controlling interest 2 3 5 4
Net income attributable to Leidos common stockholders $ 162 $ 205 $ 508 $ 579
Earnings per share:        
Basic (dollars per share) $ 1.18 $ 1.45 $ 3.71 $ 4.11
Diluted (dollars per share) $ 1.17 $ 1.43 $ 3.68 $ 4.05