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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 23, 2016
Sep. 25, 2015
Operating activities:    
Net income (loss) $ 532 $ (63)
Less: (Income) loss from discontinued operations, net of tax (63) 416
Income from continuing operations 469 353
Depreciation of property, plant and equipment 121 123
Amortization of intangibles and other assets 32 32
Deferred income tax provision 48 5
Stock-based employee compensation expense 34 35
Contributions to employee savings plans in L-3 Holdings' common stock 92 87
Goodwill impairment charges 35
Amortization of pension and postretirement benefit plans net loss and prior service cost 37 50
Amortization of bond discounts and deferred debt issue costs (included in interest expense) 6 6
Loss related to business divestitures 29
Other non-cash items 8 (5)
Changes in operating assets and liabilities, excluding amounts from acquisitions and divestitures, and discontinued operations:    
Billed receivables (69) 36
Contracts in process (193) (181)
Inventories (31) (77)
Other assets 21 (11)
Accounts payable, trade 130 117
Accrued employment costs 8 41
Accrued expenses 3 (34)
Advance payments and billings in excess of costs incurred (102) 6
Income taxes   (8)
Other current liabilities (3) (6)
Pension and postretirement benefits (19) (18)
All other operating activities (13) (18)
Net cash from operating activities from continuing operations 579 597
Investing activities:    
Business acquisitions, net of cash acquired (27) (260)
Proceeds from the sale of businesses, net of closing date cash balances 561 308
Capital expenditures (126) (137)
Dispositions of property, plant and equipment 15 2
Other investing activities 7 5
Net cash from (used in) investing activities from continuing operations 430 (82)
Financing activities:    
Borrowings under revolving credit facility 335 861
Repayment of borrowings under revolving credit facility (335) (861)
Redemption of senior notes (298)  
Common stock repurchased (326) (605)
Dividends paid on L-3 Holdings' common stock (166) (163)
Proceeds from exercises of stock options 49 41
Proceeds from employee stock purchase plan 23 26
Repurchases of common stock to satisfy tax withholding obligations (20) (33)
Other financing activities (8) (1)
Net cash used in financing activities from continuing operations (746) (735)
Effect of foreign currency exchange rate changes on cash and cash equivalents (3) (14)
Net cash (used in) from discontinued operations:    
Operating activities (56) 58
Investing activities   (4)
Net cash (used in) from discontinued operations (56) 54
Change in cash balance in assets held for sale   61
Net increase (decrease) in cash and cash equivalents 204 (119)
Cash and cash equivalents, beginning of the period 207 442
Cash and cash equivalents, end of the period $ 411 $ 323