L3HARRIS TECHNOLOGIES, INC. /DE/
For the period ended Oct 2, 2026. Filed Oct 29, 2026.
View on SEC.govAbout 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.
Oct 2, 2026 · Filed Oct 29, 2026
LHX$259.89+0.7%Stored close · as of Nov 6, 2026
Contents
ITEM 1. Financial Statements (
| ITEM 1. | FINANCIAL STATEMENTS. |
|---|
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
| Third Quarter | Year to Date | |||
|---|---|---|---|---|
| (In millions, except per share amounts) | 2026 | 2025 | 2026 | 2025 |
| Revenue | $6,060 | $5,659 | $17,685 | $16,217 |
| Cost of revenue | (4,448) | (4,165) | (13,169) | (12,038) |
| General and administrative expenses | (826) | (873) | (2,424) | (2,462) |
| Operating income | 786 | 621 | 2,092 | 1,717 |
| Non-service FAS pension income(1) | 74 | 73 | 224 | 236 |
| Other non-operating (expense) income, net | (1) | 25 | 107 | 51 |
| Interest expense, net | (116) | (152) | (381) | (454) |
| Income before income taxes | 743 | 567 | 2,042 | 1,550 |
| Income tax expense | (111) | (105) | (298) | (244) |
| Net income | $632 | $462 | $1,744 | $1,306 |
| Subsidiary preferred stock deemed dividends | (19) | — | (33) | — |
| Net income available to common shareholders | $613 | $462 | $1,711 | $1,306 |
| Earnings per share available to common shareholders | ||||
| Basic | $3.29 | $2.47 | $9.18 | $6.96 |
| Diluted | $3.28 | $2.46 | $9.13 | $6.92 |
(1)“FAS” is defined as Financial Accounting Standards.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
| Third Quarter | Year to Date | |||
|---|---|---|---|---|
| (In millions) | 2026 | 2025 | 2026 | 2025 |
| Net income | $632 | $462 | $1,744 | $1,306 |
| Other comprehensive loss, net of tax: | ||||
| Foreign currency translation and other, net | 6 | — | (6) | 82 |
| Pension and other postretirement benefits | (7) | (9) | (23) | (87) |
| Other comprehensive loss, net of tax | (1) | (9) | (29) | (5) |
| Comprehensive income | $631 | $453 | $1,715 | $1,301 |
CONDENSED CONSOLIDATED BALANCE SHEET
| (In millions, except par value) | October 2, 2026 | January 2, 2026 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $2,471 | $1,069 |
| Receivables, net | 1,640 | 1,371 |
| Contract assets | 3,999 | 3,566 |
| Inventories, net | 1,278 | 1,219 |
| Short-term investments | 550 | — |
| Other current assets | 635 | 484 |
| Assets of business held for sale | — | 884 |
| Total current assets | 10,573 | 8,593 |
| Non-current assets | ||
| Property, plant and equipment, net | 2,833 | 2,665 |
| Goodwill | 19,999 | 20,010 |
| Intangible assets, net | 6,389 | 6,509 |
| Deferred income taxes | 72 | 76 |
| Other non-current assets | 3,940 | 3,342 |
| Total assets | $43,806 | $41,195 |
| Liabilities, mezzanine equity, and equity | ||
| Current liabilities | ||
| Current portion of long-term debt | $1,815 | $673 |
| Accounts payable | 2,182 | 2,461 |
| Contract liabilities | 3,107 | 2,262 |
| Compensation and benefits | 500 | 482 |
| Other current liabilities | 1,237 | 1,235 |
| Liabilities of business held for sale | — | 113 |
| Total current liabilities | 8,841 | 7,226 |
| Non-current liabilities | ||
| Long-term debt, net | 9,181 | 10,443 |
| Deferred income taxes | 1,436 | 1,114 |
| Subsidiary Series A preferred stock conversion feature | 203 | — |
| Subsidiary warrants | 163 | — |
| Other non-current liabilities | 2,755 | 2,777 |
| Total liabilities | 22,579 | 21,560 |
| Mezzanine equity | ||
| Redeemable subsidiary Series A convertible preferred stock, $1,422 redemption amount | 987 | — |
| Equity | ||
| Common stock, $1 par value per share | 186 | 187 |
| Paid-in capital | 14,878 | 15,117 |
| Retained earnings | 5,086 | 4,212 |
| Accumulated other comprehensive income | 90 | 119 |
| Total equity | 20,240 | 19,635 |
| Total liabilities, mezzanine equity, and equity | $43,806 | $41,195 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
| Year to Date | ||
|---|---|---|
| (In millions) | 2026 | 2025 |
| Operating Activities | ||
| Net income | $1,744 | $1,306 |
| Adjustments to reconcile to net cash provided by operating activities: | ||
| Depreciation and amortization | 837 | 913 |
| Share-based compensation | 48 | 83 |
| Net periodic benefit income | (209) | (216) |
| Share-based matching contributions under defined contribution plans | 158 | 200 |
| Net investment gains | (114) | (11) |
| Change in fair value of subsidiary preferred stock conversion feature and warrants | 50 | — |
| Deferred income taxes | 245 | 151 |
| (Increase) decrease in: | ||
| Receivables, net | (306) | (474) |
| Contract assets | (437) | (454) |
| Inventories, net | (61) | 53 |
| Other current assets | (153) | (18) |
| Increase (decrease) in: | ||
| Accounts payable | (263) | (93) |
| Contract liabilities | 825 | 91 |
| Compensation and benefits | 16 | 67 |
| Other current liabilities | (74) | (495) |
| Income taxes | 18 | 144 |
| Other operating activities | (101) | (103) |
| Net cash provided by operating activities | 2,223 | 1,144 |
| Investing Activities | ||
| Capital expenditures | (386) | (266) |
| Proceeds from disposal of property, plant and equipment, net | 20 | 9 |
| Proceeds from sales of businesses, net of cash divested | 539 | 831 |
| Cash used for short-term investments | (550) | — |
| Other investing activities | (15) | (37) |
| Net cash (used in) provided by investing activities | (392) | 537 |
| Financing Activities | ||
| Proceeds from issuance of subsidiary Series A preferred stock, net | 973 | — |
| Repayments of long-term debt | (115) | (614) |
| Change in commercial paper, net | — | 210 |
| Repurchases of common stock | (598) | (998) |
| Dividends paid | (704) | (678) |
| Other financing activities | 18 | 105 |
| Net cash used in financing activities | (426) | (1,975) |
| Effect of exchange rate changes on cash and cash equivalents | (3) | 18 |
| Net increase (decrease) in cash and cash equivalents | 1,402 | (276) |
| Cash and cash equivalents, beginning of period | 1,069 | 615 |
| Cash and cash equivalents, end of period | $2,471 | $339 |
CONDENSED CONSOLIDATED STATEMENT OF EQUITY
| Third Quarter | Year to Date | |||
|---|---|---|---|---|
| (In millions, except per share amounts) | 2026 | 2025 | 2026 | 2025 |
| Common Stock | ||||
| Beginning balance | $186 | $187 | $187 | $190 |
| Share-based compensation | — | 1 | 1 | 2 |
| Repurchases and retirement of common stock | — | (1) | (2) | (5) |
| Ending balance | 186 | 187 | 186 | 187 |
| Paid-in Capital | ||||
| Beginning balance | 14,882 | 15,090 | 15,117 | 15,558 |
| Share-based compensation and other, net | 51 | 201 | 223 | 391 |
| Repurchases and retirement of common stock | (55) | (139) | (462) | (797) |
| Ending balance | 14,878 | 15,152 | 14,878 | 15,152 |
| Retained Earnings | ||||
| Beginning balance | 4,723 | 3,970 | 4,212 | 3,739 |
| Net income and other | 634 | 462 | 1,745 | 1,306 |
| Subsidiary preferred stock deemed dividend | (19) | — | (33) | — |
| Repurchases and retirement of common stock | (18) | (36) | (134) | (196) |
| Cash dividends | (234) | (225) | (704) | (678) |
| Ending balance | 5,086 | 4,171 | 5,086 | 4,171 |
| Accumulated Other Comprehensive Income (Loss) | ||||
| Beginning balance | 91 | 31 | 119 | 27 |
| Other comprehensive loss, net of tax | (1) | (9) | (29) | (5) |
| Ending balance | 90 | 22 | 90 | 22 |
| Noncontrolling Interests | ||||
| Beginning balance | — | — | — | 65 |
| Derecognized with divestiture | — | — | — | (63) |
| Other | — | — | — | (2) |
| Ending balance | — | — | — | — |
| Total Equity | $20,240 | $19,532 | $20,240 | $19,532 |
| Cash dividends per share | $1.25 | $1.20 | $3.75 | $3.60 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.