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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
May 08, 2018
Jun. 29, 2018
Jun. 30, 2017
Jun. 29, 2018
Jun. 30, 2017
Net sales:          
Products   $ 1,786 $ 1,680 $ 3,432 $ 3,284
Services   797 705 1,522 1,422
Total net sales   2,583 2,385 4,954 4,706
Operating costs and expenses:          
Cost of sales — Products   (1,349) (1,253) (2,540) (2,441)
Cost of sales — Services   (578) (479) (1,110) (1,017)
General and administrative expenses   (383) (359) (780) (717)
Total operating costs and expenses   (2,310) (2,091) (4,430) (4,175)
Gain on sale of the Crestview Aerospace and TCS businesses   48 0 48 0
Operating income   321 294 572 531
Interest expense   (44) (42) (85) (84)
Interest and other income, net   8 2 14 6
Debt retirement charge   (48) 0 (48) 0
Income from continuing operations before income taxes   237 254 453 453
Provision for income taxes   (48) (59) (72) (101)
Income from continuing operations   189 195 381 352
Income from discontinued operations, net of income taxes   190 12 206 23
Net income   379 207 587 375
Net income from continuing operations attributable to noncontrolling interests   (4) (5) (9) (9)
Net income attributable to L3   $ 375 $ 202 $ 578 $ 366
Basic earnings per share attributable to common shareholders:          
Continuing operations (in dollars per share)   $ 2.36 $ 2.44 $ 4.75 $ 4.40
Discontinued operations (in dollars per share)   2.42 0.15 2.63 0.30
Basic earnings per share (in dollars per share)   4.78 2.59 7.38 4.70
Diluted earnings per share attributable to common shareholders:          
Continuing operations (in dollars per share)   2.33 2.39 4.67 4.32
Discontinued operations (in dollars per share)   2.39 0.15 2.59 0.29
Diluted earnings per share (in dollars per share)   4.72 2.54 7.26 4.61
Cash dividends declared per common share (in dollars per share) $ 0.80 $ 0.8 $ 0.75 $ 1.6 $ 1.50
Weighted average common shares outstanding:          
Basic (in shares)   78.4 78.0 78.3 77.8
Diluted (in shares)   79.4 79.5 79.6 79.4