L3's Earnings Per Common Share (Tables)

9 Months Ended

Sep. 28, 2018

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Earnings per Share (EPS)

A reconciliation of basic and diluted Earnings Per Share (EPS) is presented in the table below.

	Third Quarter Ended						Year-to-Date Ended
	September 28, 2018			September 29, 2017			September 28, 2018			September 29, 2017
	(in millions, except per share data)
Reconciliation of net income:
Net income	$	208		$	25		$	795		$	400
Net income from continuing operations attributable to noncontrolling interests	(6		)	(3		)	(15		)	(12		)
Net income attributable to L3’s common shareholders	$	202		$	22		$	780		$	388
Earnings (loss) attributable to L3’s common shareholders:
Continuing operations	$	202		$	143		$	574		$	486
Discontinued operations, net of income tax	—			(121		)	206			(98		)
Net income attributable to L3’s common shareholders	$	202		$	22		$	780		$	388
Earnings per share attributable to L3’s commonshareholders:
Basic:
Weighted average common shares outstanding	78.5			78.2			78.4			78.0
Basic earnings (loss) per share:
Continuing operations	$	2.57		$	1.83		$	7.32		$	6.23
Discontinued operations, net of income tax	—			(1.55		)	2.63			(1.26		)
Net income	$	2.57		$	0.28		$	9.95		$	4.97
Diluted:
Common and potential common shares:
Weighted average common shares outstanding	78.5			78.2			78.4			78.0
Effect of dilutive securities	0.9			1.6			1.2			1.6
Common and potential common shares	79.4			79.8			79.6			79.6
Diluted earnings (loss) per share:
Continuing operations	$	2.54		$	1.79		$	7.21		$	6.10
Discontinued operations, net of income tax	—			(1.51		)	2.59			(1.23		)
Net income	$	2.54		$	0.28		$	9.80		$	4.87