Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Unaudited Quarterly Financial Data [Abstract]

Unaudited Quarterly Financial Data

24. Unaudited Quarterly Financial Data

Unaudited summarized financial data by quarter for the years ended December 31, 2011 and 2010 is presented in the table below. The Company’s unaudited quarterly results of operations are affected, significantly in some periods, by our business acquisitions. See Note 4.

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(in millions, except per share data)
2011
Sales	$	3,601	$	3,766	$	3,787	$	4,015
Operating income		390		404		406		398
Net income		207		246		238		277
Net income attributable to L-3		204		243		235		274
Basic EPS (1)		1.87		2.28		2.27		2.75
Diluted EPS (1)		1.85		2.26		2.24		2.72
2010
Sales	$	3,624	$	3,966	$	3,835	$	4,255
Operating income		410		442		437		461
Net income		222		231		241		272
Net income attributable to L-3		221		228		238		268
Basic EPS (1)		1.89		1.97		2.08		2.38
Diluted EPS (1)		1.87		1.95		2.07		2.37

⁽¹⁾  Basic and diluted EPS amounts in each quarter are computed using the weighted-average number of shares outstanding during that quarter, while basic and diluted EPS for the full year is computed using the weighted-average number of shares outstanding during the year. Therefore, the sum of the four quarters’ basic or diluted EPS may not equal the full year basic or diluted EPS.