XML 64 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Jun. 27, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 299 $ 500
Billed receivables, net of allowances of $23 in 2014 and $26 in 2013 1,059 991
Contracts in process 2,633 2,431
Inventories 373 359
Deferred income taxes 145 147
Other current assets 196 166
Total current assets 4,705 4,594
Property, plant and equipment, net 1,033 1,042
Goodwill 7,838 7,796
Identifiable intangible assets 274 285
Deferred debt issue costs 30 24
Other assets 236 247
Total assets 14,116 13,988
Current liabilities:    
Accounts payable, trade 553 541
Accrued employment costs 541 545
Accrued expenses 385 458
Advance payments and billings in excess of costs incurred 627 576
Income taxes 21 31
Other current liabilities 367 383
Total current liabilities 2,494 2,534
Pension and postretirement benefits 711 727
Deferred income taxes 599 635
Other liabilities 395 406
Long-term debt 3,938 3,630
Total liabilities 8,137 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, 85,274,892 shares outstanding at June 27, 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) 5,694 5,653
L-3 Communications Holdings, Inc.'s treasury stock (at cost), 69,015,808 shares at June 27, 2014 and 66,118,406 shares at December 31, 2013 (5,621) (5,288)
Retained earnings 5,927 5,726
Accumulated other comprehensive loss (96) (110)
Total L-3 shareholders' equity 5,904 5,981
Noncontrolling interests 75 75
Total equity 5,979 6,056
Total liabilities and equity $ 14,116 $ 13,988