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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 29, 2017
Sep. 23, 2016
Sep. 29, 2017
Sep. 23, 2016
Net sales:        
Products $ 1,581 $ 1,500 $ 4,859 $ 4,561
Services 1,065 1,005 3,188 2,961
Total net sales 2,646 2,505 8,047 7,522
Cost of sales:        
Products (1,446) (1,355) (4,311) (4,095)
Services (950) (935) (2,921) (2,713)
Total cost of sales (2,396) (2,290) (7,232) (6,808)
Goodwill impairment charge [1] (187) 0 (187) 0
Operating income 63 215 628 714
Interest expense (43) (41) (128) (125)
Interest and other income, net 6 6 15 15
Debt retirement charge     0 (5)
Income from continuing operations before income taxes 26 180 515 599
Provision for income taxes 0 (29) (114) (130)
Income from continuing operations 26 151 401 469
(Loss) income from discontinued operations, net of income taxes (1) 0 (1) 63
Net income 25 151 400 532
Net income from continuing operations attributable to noncontrolling interests (3) (3) (12) (10)
Net income attributable to L3 $ 22 $ 148 $ 388 $ 522
Basic earnings (loss) per share attributable to common shareholders:        
Continuing operations (in dollars per share) $ 0.29 $ 1.91 $ 4.98 $ 5.93
Discontinued operations (in dollars per share) (0.01) 0 (0.01) 0.81
Basic earnings per share (in dollars per share) 0.28 1.91 4.97 6.74
Diluted earnings (loss) per share attributable to common shareholders:        
Continuing operations (in dollars per share) 0.29 1.88 4.88 5.83
Discontinued operations (in dollars per share) (0.01) 0 (0.01) 0.80
Diluted earnings per share (in dollars per share) 0.28 1.88 4.87 6.63
Cash dividends declared per common share (in dollars per share) $ 0.75 $ 0.70 $ 2.25 $ 2.10
Weighted average common shares outstanding:        
Basic (in shares) 78.2 77.3 78.0 77.4
Diluted (in shares) 79.8 78.8 79.6 78.7
[1] Represents a goodwill impairment charge recorded during the third quarter of 2017 related to Vertex Aerospace. See Note 8 for additional information.