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Midas Edge

L3HARRIS TECHNOLOGIES, INC. /DE/

For the period ended Apr 3, 2026. Filed Apr 30, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Apr 3, 2026 · Filed Apr 30, 2026

LHX$259.89+0.7%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits
Contents

ITEM 1. Financial Statements (

ITEM 1.FINANCIAL STATEMENTS.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

First Quarter
(In millions, except per share amounts)20262025
Revenue$5,744$5,132
Cost of revenue(4,342)(3,782)
General and administrative expenses(750)(825)
Operating income652525
Non-service FAS pension income and other, net(1)7384
Interest expense, net(136)(150)
Income before income taxes589459
Income taxes(77)(73)
Net income$512$386
Earnings per share attributable to common shareholders
Basic$2.74$2.05
Diluted$2.72$2.04

(1)“FAS” is defined as Financial Accounting Standards.

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

First Quarter
(In millions)20262025
Net income$512$386
Other comprehensive loss, net of tax:
Foreign currency translation and other, net(13)30
Pension and other postretirement benefits(8)(71)
Other comprehensive loss(21)(41)
Comprehensive income$491$345

CONDENSED CONSOLIDATED BALANCE SHEET

(In millions)April 3, 2026January 2, 2026
Assets
Current assets
Cash and cash equivalents$590$1,069
Receivables, net1,9121,371
Contract assets3,5303,566
Inventories, net1,2341,219
Other current assets702484
Assets of business held for sale926884
Total current assets8,8948,593
Non-current assets
Property, plant and equipment, net2,6582,665
Goodwill19,99920,010
Intangible assets, net6,3316,509
Deferred income taxes7176
Other non-current assets3,4273,342
Total assets$41,380$41,195
Liabilities and equity
Current liabilities
Short-term debt$350$—
Current portion of long-term debt1,816673
Accounts payable1,9302,461
Contract liabilities2,7362,262
Compensation and benefits391482
Other current liabilities1,2671,235
Liabilities of business held for sale111113
Total current liabilities8,6017,226
Non-current liabilities
Long-term debt, net9,19110,443
Deferred income taxes1,2251,114
Other non-current liabilities2,6832,777
Total liabilities21,70021,560
Equity
Common stock187187
Paid-in capital14,97415,117
Retained earnings4,4214,212
Accumulated other comprehensive income98119
Total equity19,68019,635
Total liabilities and equity$41,380$41,195

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

First Quarter
(In millions)20262025
Operating Activities
Net income$512$386
Adjustments to reconcile to net cash used in operating activities:
Depreciation and amortization282301
Share-based compensation2119
Net periodic benefit income(70)(84)
Share-based matching contributions under defined contribution plans6268
Deferred income taxes119(89)
(Increase) decrease in:
Receivables, net(623)(447)
Contract assets72(420)
Inventories, net(17)92
Other current assets(218)(19)
Increase (decrease) in:
Accounts payable(527)52
Contract liabilities461(16)
Compensation and benefits(87)(105)
Other current liabilities(15)11
Income taxes(7)273
Other operating activities(60)(64)
Net cash used in operating activities(95)(42)
Investing Activities
Capital expenditures(99)(59)
Proceeds from disposal of property, plant and equipment, net7—
Proceeds from sales of businesses, net of cash divested—831
Other investing activities(5)(28)
Net cash (used in) provided by investing activities(97)744
Financing Activities
Repayments of long-term debt(106)(5)
Change in commercial paper, net35020
Repurchases of common stock(296)(569)
Dividends paid(238)(228)
Other financing activities6(23)
Net cash used in financing activities(284)(805)
Effect of exchange rate changes on cash and cash equivalents(3)5
Net decrease in cash and cash equivalents(479)(98)
Cash and cash equivalents, beginning of period1,069615
Cash and cash equivalents, end of period$590$517

CONDENSED CONSOLIDATED STATEMENT OF EQUITY

First Quarter
(In millions, except per share amounts)20262025
Common Stock
Beginning balance$187$190
Share-based compensation1—
Repurchases and retirement of common stock(1)(2)
Ending balance187188
Paid-in Capital
Beginning balance15,11715,558
Share-based compensation and other, net8869
Repurchases and retirement of common stock(231)(457)
Ending balance14,97415,170
Retained Earnings
Beginning balance4,2123,739
Net income and other511386
Repurchases and retirement of common stock(64)(110)
Cash dividends(238)(228)
Ending balance4,4213,787
Accumulated Other Comprehensive Income (Loss)
Beginning balance11927
Other comprehensive loss, net of tax(21)(41)
Ending balance98(14)
Noncontrolling Interests
Beginning balance—65
Derecognized with divestiture—(63)
Other—(3)
Ending balance—(1)
Total Equity$19,680$19,130
Cash dividends per share$1.25$1.20
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.