Leidos Holdings Inc
For the period ended Mar 29, 2024. Filed Apr 30, 2024.
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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.
Mar 29, 2024 · Filed Apr 30, 2024
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Bookings and Backlog
We recorded net bookings worth an estimated $3.7 billion during the three months ended March 29, 2024, as compared to $3.0 billion for the three months ended March 31, 2023.
The estimated value of our total backlog was as follows:
| March 29, 2024 | March 31, 2023 | |||||
|---|---|---|---|---|---|---|
| Segment | Funded | Unfunded | Total | Funded | Unfunded | Total |
| (in millions) | ||||||
| National Security and Digital | $2,411 | $15,144 | $17,555 | $2,984 | $13,030 | $16,014 |
| Health & Civil | 1,953 | 8,767 | 10,720 | 1,740 | 9,572 | 11,312 |
| Commercial & International | 2,465 | 2,071 | 4,536 | 2,537 | 1,317 | 3,854 |
| Defense Systems | 1,136 | 2,624 | 3,760 | 1,042 | 2,864 | 3,906 |
| Total | $7,965 | $28,606 | $36,571 | $8,303 | $26,783 | $35,086 |
Backlog represents the estimated amount of future revenues to be recognized under negotiated contracts, both funded and unfunded. Backlog does not include unexercised option periods and future potential task orders expected to be awarded under indefinite delivery/indefinite quantity ("IDIQ") contracts, General Services Administration Schedule or other master agreement contract vehicles, with the exception of certain IDIQ contracts where task orders are not competitively awarded and separately priced but instead are used as a funding mechanism, and where there is a basis for estimating future revenues and funding on future anticipated task orders.
Backlog estimates are subject to change and may be affected by factors including modifications of contracts and foreign currency movements.
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