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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 30, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 208 $ 168
Less: income from discontinued operations, net of tax (16) (11)
Income from continuing operations 192 157
Depreciation of property, plant and equipment 43 40
Amortization of intangibles and other assets 13 12
Deferred income tax provision 16 15
Stock-based employee compensation expense 20 14
Contributions to employee savings plans in L3's common stock 32 34
Amortization of pension and postretirement benefit plans net loss and prior service cost 18 15
Other non-cash items 1 5
Changes in operating assets and liabilities, excluding amounts from acquisitions and divestitures, and discontinued operations:    
Billed receivables (73) (48)
Contract assets (145) 0
Contracts in process 0 (180)
Inventories (65) (9)
Prepaid expenses and other current assets 99 24
Accounts payable, trade 56 91
Accrued employment costs (54) (68)
Accrued expenses (6) 23
Contract liabilities 41 0
Advance payments and billing in excess of costs incurred 0 (9)
Income taxes (11) 12
All other operating activities (14) 6
Net cash (used in) from operating activities from continuing operations (35) 86
Investing activities:    
Business acquisitions, net of cash acquired 0 (139)
Proceeds from the sale of businesses, net of closing date cash balances 0 16
Capital expenditures (56) (41)
Dispositions of property, plant and equipment 2 1
Other investing activities (29) 5
Net cash used in investing activities from continuing operations (83) (158)
Financing activities:    
Borrowings under revolving credit facility 207 664
Repayments of borrowings under revolving credit facility (207) (664)
Common stock repurchased (119) 0
Dividends paid (65) (61)
Proceeds from exercises of stock options 55 12
Proceeds from employee stock purchase plan 8 8
Repurchases of common stock to satisfy tax withholding obligations (23) (18)
Other financing activities (2) (4)
Net cash used in financing activities from continuing operations (146) (63)
Effect of foreign currency exchange rate changes on cash and cash equivalents 6 4
Net cash used in discontinued operations:    
Operating activities (29) (1)
Investing activities (1) (1)
Net cash used in discontinued operations (30) (2)
Net increase in cash and cash equivalents (288) (133)
Cash and cash equivalents, beginning of the period 662 363
Cash and cash equivalents, end of the period $ 374 $ 230