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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Jan. 30, 2015
Schedule of Selected Quarterly Financial Data
Selected unaudited financial data for each quarter of the last two fiscal years is presented in the table below and has been recast to reflect discontinued operations for all periods presented.
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(in millions, except per share amounts)
Fiscal 2015(3)
 
 
 
 
 
 
 
Revenues
$
1,312

 
$
1,306

 
$
1,276

 
$
1,169

Operating income (loss)
$
87

 
$
(410
)
 
$
72

 
$
37

Income (loss) from continuing operations (1)
$
45

 
$
(439
)
 
$
38

 
$
26

(Loss) income from discontinued operations
$
(8
)
 
$
1

 
$
(4
)
 
$
18

Net income (loss) (1)
$
37

 
$
(438
)
 
$
34

 
$
44

Basic earnings (loss) per share (2)
$
0.58

 
$
(5.93
)
 
$
0.52

 
$
0.36

Diluted earnings (loss) per share (2)
$
0.58

 
$
(5.93
)
 
$
0.51

 
$
0.35

Fiscal 2014(4)
 
 
 
 
 
 
 
Revenues
$
1,593

 
$
1,457

 
$
1,414

 
$
1,291

Operating income (loss)
$
77

 
$
10

 
$
(5
)
 
$
81

Income (loss) from continuing operations (1)
$
41

 
$
4

 
$
(8
)
 
$
47

Income (loss) from discontinued operations
$
40

 
$
38

 
$
5

 
$
(3
)
Net income (loss) (1)
$
81

 
$
42

 
$
(3
)
 
$
44

Basic earnings (loss) per share (2)
$
0.44

 
$
0.05

 
$
(0.10
)
 
$
0.57

Diluted earnings (loss) per share (2)
$
0.44

 
$
0.05

 
$
(0.10
)
 
$
0.56

All per share amounts presented give effect to the one-for-four reverse stock split completed on September 27, 2013.

(1)
Income (loss) from continuing operations and net income relate to Leidos Holdings, Inc. only. See Leidos, Inc.'s amounts detailed below
(2)
Earnings (loss) per share from continuing operations are computed independently for each of the quarters presented and therefore may not sum to the total for the fiscal year.
(3)
Fiscal 2015 quarterly results include goodwill impairment charges of $486 million in the second quarter, intangible asset impairment charges of $24 million and $17 million in the second and third quarter, respectively, and a tangible asset impairment charge of $40 million in the fourth quarter. For further information see, Note 3 - Acquisitions and Note 4 - Goodwill and Intangible Assets.
(4)
Fiscal 2014 quarterly results include the following charges: 1) intangible asset impairment charges of $30 million and $19 million in the second and third quarter, respectively; 2) bad debt expense for certain receivables related to two energy design-build construction projects of $42 million in the third quarter; and 3) separation transaction and restructuring expenses in each of the quarters of approximately $14 million, $19 million, $25 million, and $7 million, respectively. For further information see, Note 1 - Summary of Significant Accounting Policies and Note 4 - Goodwill and Intangible Assets.
Leidos, Inc.  
Schedule of Selected Quarterly Financial Data
Leidos, Inc.:
Income (loss) from continuing operations and net income (loss) of Leidos, Inc. includes interest expense on the related party note and associated income taxes, which relate solely to Leidos, Inc. and are not reflected in the consolidated amounts above. Income (loss) from continuing operations and net income (loss) of Leidos, Inc. for each quarter of the last two fiscal years was as follows:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(in millions)
Fiscal 2015
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
46

 
$
(437
)
 
$
40

 
$
27

Net income (loss)
$
38

 
$
(436
)
 
$
36

 
$
45

Fiscal 2014
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
41

 
$
4

 
$
(8
)
 
$
49

Net income (loss)
$
81

 
$
42

 
$
(3
)
 
$
46