Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 26, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 353	$ 442
Billed receivables, net of allowances of $14 in 2015 and 2014	820	852
Contracts in process	2,422	2,295
Inventories	371	288
Deferred income taxes	129	127
Other current assets	208	186
Assets held for sale		547
Total current assets	4,303	4,737
Property, plant and equipment, net	1,118	1,088
Goodwill	7,649	7,501
Identifiable intangible assets	266	243
Deferred debt issue costs	24	27
Other assets	273	240
Total assets	13,633	13,836
Current liabilities:
Accounts payable, trade	455	382
Accrued employment costs	512	510
Accrued expenses	361	402
Advance payments and billings in excess of costs incurred	670	573
Income taxes	6	23
Other current liabilities	413	398
Liabilities held for sale		237
Total current liabilities	2,417	2,525
Pension and postretirement benefits	1,192	1,187
Deferred income taxes	427	443
Other liabilities	385	382
Long-term debt	3,940	3,939
Total liabilities	$ 8,361	$ 8,476
Commitments and contingencies (see Note 17)
L-3 shareholders' equity:
L-3 Communications Holdings, Inc.'s common stock: $.01 par value; 300,000,000 shares authorized, 80,802,725 shares outstanding at June 26, 2015 and 82,040,525 shares outstanding at December 31, 2014 (L-3 Communications Corporation's common stock: $.01 par value, 100 shares authorized, issued and outstanding)	$ 5,935	$ 5,799
L-3 Communications Holdings, Inc.'s treasury stock (at cost), 75,875,799 shares at June 26, 2015 and 73,005,891 shares at December 31, 2014	(6,457)	(6,111)
Retained earnings	6,297	6,181
Accumulated other comprehensive loss	(578)	(584)
Total L-3 shareholders' equity	5,197	5,285
Noncontrolling interests	75	75
Total equity	5,272	5,360
Total liabilities and equity	$ 13,633	$ 13,836