Business Segments (Tables)

3 Months Ended

Oct. 02, 2015

Business Segments (Tables) [Abstract]

Summary of total assets by business segment

Total assets by business segment are summarized below:

	October 2,		July 3,
	2015		2015
	(In millions)
Total Assets
Communication Systems	$	1,853	$	1,906
Space and Intelligence Systems		2,139		2,096
Electronic Systems		2,517		2,513
Critical Networks		3,438		3,492
Corporate (1)		2,617		3,122
	$	12,564	$	13,129
_____________

(1)Because the acquisition of Exelis in the fourth quarter of fiscal 2015 benefited the entire Company as opposed to any individual segments, the approximately $1.6 billion of identifiable intangible assets acquired in the Exelis acquisition was recorded as Corporate assets.

Revenue and income from continuing operations before income taxes by segment

Segment revenue, segment operating incomeand a reconciliation of segment operating incometo total income before income taxes follow:

		Quarter Ended
		October 2,		September 26,
		2015		2014
		(In millions)
Revenue
Communication Systems		$	454	$	389
Space and Intelligence Systems			435		253
Electronic Systems			374		109
Critical Networks			566		407
Corporate eliminations			(18)		(3)
		$	1,811	$	1,155
Income Before Income Taxes
Segment Operating Income:
	Communication Systems	$	138	$	116
	Space and Intelligence Systems		68		37
	Electronic Systems		69		22
	Critical Networks		63		42
Unallocated corporate expense (1)			(75)		(17)
Corporate eliminations			(1)		(2)
Non-operating income (2)			1		―
Net interest expense			(47)		(22)
		$	216	$	176
____________

(1)Because the acquisition of Exelis in the fourth quarter of fiscal 2015 benefited the entire Company as opposed to any individual segments, the amortization of identifiable intangible assets acquired in the Exelis acquisition was recorded as unallocated corporate expense.

(2)“Non-operating income” in the quarter ended October 2, 2015 primarily consisted of income related to intellectual property matters.