XML 60 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Mar. 28, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 227 $ 500
Billed receivables, net of allowances of $24 in 2014 and $26 in 2013 1,068 991
Contracts in process 2,648 2,431
Inventories 375 359
Deferred income taxes 144 147
Other current assets 160 166
Total current assets 4,622 4,594
Property, plant and equipment, net 1,033 1,042
Goodwill 7,821 7,796
Identifiable intangible assets 283 285
Deferred debt issue costs 23 24
Other assets 245 247
Total assets 14,027 13,988
Current liabilities:    
Accounts payable, trade 590 541
Accrued employment costs 543 545
Accrued expenses 404 458
Advance payments and billings in excess of costs incurred 529 576
Income taxes 29 31
Other current liabilities 382 383
Total current liabilities 2,477 2,534
Pension and postretirement benefits 729 727
Deferred income taxes 661 635
Other liabilities 394 406
Long-term debt 3,631 3,630
Total liabilities 7,892 7,932
Commitments and contingencies (see Note 18)      
L-3 shareholders' equity:    
L-3 Communications Holdings, Inc.'s common stock: $.01 par value; 300,000,000 shares authorized, 86,423,244 shares outstanding at March 28, 2014 and 85,828,485 shares outstanding at December 31, 2013 (L-3 Communications Corporation's common stock: $.01 par value, 100 shares authorized, issued and outstanding) 5,767 5,653
L-3 Communications Holdings, Inc.'s treasury stock (at cost), 67,335,382 shares at March 28, 2014 and 66,118,406 shares at December 31, 2013 (5,421) (5,288)
Retained earnings 5,842 5,726
Accumulated other comprehensive loss (128) (110)
Total L-3 shareholders' equity 6,060 5,981
Noncontrolling interests 75 75
Total equity 6,135 6,056
Total liabilities and equity $ 14,027 $ 13,988