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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 30, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Selected Quarterly Financial Data
Selected financial data (unaudited) for each quarter of fiscal 2016 (January 2, 2016, through December 30, 2016) and calendar 2015 (January 3, 2015, through January 1, 2016), respectively, is presented in the table below:
 
 
Three Months Ended
 
 
April 1,
2016
 
July 1,
2016
 
September 30,
2016
 
December 30,
2016
 
 
(in millions, except per share amounts)
Fiscal 2016 (1)
 
 
 
 
 
 
 
 
Revenues
 
$
1,312

 
$
1,288

 
$
1,868

 
$
2,575

Operating income
 
$
89

 
$
75

 
$
101

 
$
152

Income from continuing operations (2)
 
$
53

 
$
41

 
$
92

 
$
60

Net income (2)
 
$
53

 
$
41

 
$
92

 
$
60

Net income attributable to Leidos common stockholders
 
$
53

 
$
41

 
$
91

 
$
59

Basic earnings per share attributable to Leidos common stockholders (3)
 
$
0.74

 
$
0.56

 
$
0.81

 
$
0.39

Diluted earnings per share attributable to Leidos common stockholders (3)
 
$
0.72

 
$
0.55

 
$
0.80

 
$
0.39

 
 
Three Months Ended
 
 
April 3,
2015
 
July 3,
2015
 
October 2,
2015
 
January 1,
2016
 
 
(in millions, except per share amounts)
Calendar 2015 (4)(5)
 
 
 
 
 
 
 
 
Revenues
 
$
1,246

 
$
1,257

 
$
1,302

 
$
1,281

Operating income
 
$
38

 
$
64

 
$
94

 
$
102

Income from continuing operations
 
$
23

 
$
37

 
$
49

 
$
127

Income from discontinued operations
 
$
18

 
$
—

 
$
—

 
$
—

Net income
 
$
41

 
$
37

 
$
49

 
$
127

Basic earnings per share (3)
 
$
0.32

 
$
0.51

 
$
0.68

 
$
1.76

Diluted earnings per share (3)
 
$
0.31

 
$
0.50

 
$
0.67

 
$
1.72


(1) 
Includes the results of the IS&GS Business acquired on August 16, 2016. Additionally, the fiscal 2016 quarterly results include acquisition and integration costs of $9 million, $15 million, $44 million, and $22 million in the first, second, third, and fourth quarter, respectively, and restructuring expenses of $1 million, $5 million, and $8 million in the second, third, and fourth quarter, respectively.
(2) 
Due to the adoption of ASU 2016-09 in the second quarter of fiscal 2016, the Company recognized a $4 million, $3 million and $1 million discrete tax benefit for the first, second and third quarter, respectively, of fiscal 2016.
(3) 
Earnings per share from continuing operations are computed independently for each of the quarters presented and therefore may not sum to the total for fiscal 2016 and calendar 2015.
(4) 
On March 20, 2015, the Board of Directors approved the amendment and restatement of the bylaws of Leidos to change Leidos' year end from the Friday nearest the end of January to the Friday nearest the end of December. In the first quarter of calendar 2015, the Company began reporting financial results on the basis of the new fiscal year end. The results for the month of January 2015, which are included in the audited results for fiscal 2015, were also included in the reported first quarter of calendar 2015. However, the results for the month of January 2015 are not included in the results for the 11-month period ended January 1, 2016. As a result, the four quarters of calendar 2015 are not additive to the 11-month period ended January 1, 2016.
(5) 
Calendar 2015 quarterly results include tangible asset impairment charges of $40 million and $29 million in the first and second quarter, respectively, intangible asset impairment charges of $4 million in the third quarter and an $82 million gain on a real estate sale in the fourth quarter. The first quarter impairment charge occurred during January 2015 and is included in both the first quarter of calendar 2015 and the Company's fiscal 2015 resul