Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 24, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 352	$ 207
Billed receivables, net of allowances of $13 in 2016 and $15 in 2015	808	746
Contracts in process	2,162	2,081
Inventories	356	333
Other current assets	182	201
Assets of discontinued operations		664
Total current assets	3,860	4,232
Property, plant and equipment, net	1,075	1,097
Goodwill	6,306	6,281
Identifiable intangible assets	190	199
Deferred income taxes	4	3
Other assets	265	255
Total assets	11,700	12,067
Current liabilities:
Current portion of long-term debt	549	499
Accounts payable, trade	415	297
Accrued employment costs	481	504
Accrued expenses	387	390
Advance payments and billings in excess of costs incurred	448	562
Income taxes		13
Other current liabilities	399	394
Liabilities of discontinued operations		220
Total current liabilities	2,679	2,879
Pension and postretirement benefits	1,046	1,047
Deferred income taxes	262	219
Other liabilities	374	368
Long-term debt	2,780	3,125
Total liabilities	7,141	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, 77,188,658 shares outstanding at June 24, 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)	6,165	6,052
L-3 Communications Holdings, Inc.'s treasury stock (at cost), 81,712,502 shares at June 24, 2016 and 79,375,063 shares at December 31, 2015	(7,127)	(6,851)
Retained earnings	5,992	5,728
Accumulated other comprehensive loss	(544)	(574)
Total L-3 shareholders' equity	4,486	4,355
Noncontrolling interests	73	74
Total equity	4,559	4,429
Total liabilities and equity	$ 11,700	$ 12,067