XML 26 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 29, 2018
Jun. 30, 2017
Operating activities:    
Net income $ 587 $ 375
Less: income from discontinued operations, net of tax (206) (23)
Income from continuing operations 381 352
Depreciation of property, plant and equipment 90 82
Amortization of intangibles and other assets 26 24
Deferred income tax provision 21 25
Stock-based compensation expense 34 28
Contributions to employee savings plans in L3's common stock 68 56
Amortization of pension and postretirement benefit plans net loss and prior service cost 35 30
Gain on sale of property, plant and equipment 0 (42)
Gain on sale of the Crestview Aerospace and TCS businesses (48) 0
Debt retirement charge 48 0
Other non-cash items 1 6
Changes in operating assets and liabilities, excluding amounts from acquisitions and divestitures, and discontinued operations:    
Billed receivables (137) (88)
Contract assets (266) 0
Contracts in process 0 (123)
Inventories (10) (12)
Prepaid expenses and other current assets (82) (15)
Accounts payable, trade 61 (99)
Accrued employment costs (38) (28)
Accrued expenses 63 158
Contract liabilities (2) 0
Advance payments and billing in excess of costs incurred 0 (10)
Income taxes (22) (12)
All other operating activities (45) (17)
Net cash from operating activities from continuing operations 178 315
Investing activities:    
Business acquisitions, net of cash acquired (69) (191)
Proceeds from the sale of businesses, net of closing date cash balances 535 16
Capital expenditures (108) (96)
Dispositions of property, plant and equipment 1 65
Other investing activities (29) (1)
Net cash from (used in) investing activities from continuing operations 330 (207)
Financing activities:    
Proceeds from sale of senior notes 1,798 0
Repurchases and redemptions of senior notes (1,263) 0
Borrowings under revolving credit facility 501 1,158
Repayments of borrowings under revolving credit facility (501) (1,158)
Common stock repurchased (287) (26)
Dividends paid (128) (119)
Proceeds from exercises of stock options 103 25
Proceeds from employee stock purchase plan 17 16
Repurchases of common stock to satisfy tax withholding obligations (24) (18)
Debt issue costs (13) 0
Other financing activities (6) (8)
Net cash from (used in) financing activities from continuing operations 197 (130)
Effect of foreign currency exchange rate changes on cash and cash equivalents (8) 10
Net cash from (used in) discontinued operations:    
Operating activities 9 36
Investing activities (2) (2)
Net cash from discontinued operations 7 34
Net increase in cash and cash equivalents 704 22
Cash and cash equivalents, beginning of the period 662 363
Cash and cash equivalents, end of the period $ 1,366 $ 385