Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 25, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 534	$ 207
Billed receivables, net of allowances of $13 in 2016 and $15 in 2015	779	746
Contracts in process	2,226	2,081
Inventories	351	333
Other current assets	$ 173	201
Assets of discontinued operations		664
Total current assets	$ 4,063	4,232
Property, plant and equipment, net	1,085	1,097
Goodwill	6,306	6,281
Identifiable intangible assets	195	199
Deferred income taxes	4	3
Other assets	258	255
Total assets	11,911	12,067
Current liabilities:
Current portion of long-term debt	499	499
Accounts payable, trade	407	297
Accrued employment costs	466	504
Accrued expenses	406	390
Advance payments and billings in excess of costs incurred	495	562
Income taxes	3	13
Other current liabilities	403	394
Liabilities of discontinued operations		220
Total current liabilities	2,679	2,879
Pension and postretirement benefits	1,045	1,047
Deferred income taxes	238	219
Other liabilities	371	368
Long-term debt	3,127	3,125
Total liabilities	$ 7,460	$ 7,638
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, 77,340,520 shares outstanding at March 25, 2016 and 78,133,763 shares outstanding at December 31, 2015 (L-3 Communications Corporation's common stock: $.01 par value, 100 shares authorized, issued and outstanding)	$ 6,084	$ 6,052
L-3 Communications Holdings, Inc.'s treasury stock (at cost), 81,083,248 shares at March 25, 2016 and 79,375,063 shares at December 31, 2015	(7,049)	(6,851)
Retained earnings	5,901	5,728
Accumulated other comprehensive loss	(558)	(574)
Total L-3 shareholders' equity	4,378	4,355
Noncontrolling interests	73	74
Total equity	4,451	4,429
Total liabilities and equity	$ 11,911	$ 12,067