BASIS OF PRESENTATION (Policies) |
6 Months Ended |
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Jul. 03, 2026 | |
| Accounting Policies [Abstract] | |
| Principles of Consolidation | Principles of Consolidation The accompanying Condensed Consolidated Financial Statements include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these notes to the Condensed Consolidated Financial Statements (these “Notes”), the terms “L3Harris,” “Company,” “we,” “our” and “us” refer to L3Harris Technologies, Inc. and its consolidated subsidiaries. Intercompany transactions and accounts have been eliminated. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, such interim financial statements do not include all information and footnotes necessary for a complete presentation of financial condition, results of operations, cash flows and equity in conformity with GAAP for annual financial statements and are not necessarily indicative of the results that may be expected for the full fiscal year or any subsequent period. In the opinion of management, these interim financial statements reflect all adjustments (including normal recurring adjustments) considered necessary for a fair presentation of our financial condition, results of operations, cash flows and equity for the periods presented.
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| Fiscal Year | Our fiscal year is based on a 52- or 53-week period ending on the Friday nearest December 31. The fiscal quarters ended July 3, 2026 (“second quarter 2026”) and June 27, 2025 (“second quarter 2025”) both include thirteen weeks. The year-to-date periods ended July 3, 2026 (“year to date 2026”) and June 27, 2025 (“year to date 2025”) include twenty-six and twenty-five weeks, respectively. |
| Use of Estimates | Use of Estimates The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Condensed Consolidated Financial Statements and these Notes. Materially different results can occur as circumstances change and additional information becomes known.
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| Reclassifications | Reclassifications The classification of certain prior year amounts have been adjusted in our Condensed Consolidated Financial Statements and these Notes to conform to current year classifications.
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| Investments | Investments We hold certain investments in companies that align with our strategic business objectives, including advancing capabilities, market access, and technology development. These investments, consisting of equity method investments and equity interest investments, are included as a component of the “Other non-current assets” line item in our Condensed Consolidated Balance Sheet. See Note 1: Significant Accounting Policies in our Fiscal 2025 Form 10-K for further information on accounting policies for our investments.
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| Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Accounting pronouncements issued during second quarter 2026, but not yet adopted, are under evaluation for their potential impact on our operating results, financial position, or cash flows. For information on accounting pronouncements issued prior to fiscal 2026, see Note 1: Significant Accounting Policies in our Fiscal 2025 Form 10-K.
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| Earnings Per Share | EPS is calculated as net income available to common shareholders divided by our weighted-average number of basic or diluted common shares outstanding. Net income available to common shareholders is calculated by reducing net income by the amount of the subsidiary preferred stock deemed dividend associated with the Subsidiary Series A Preferred Stock as it is not a participating security. Potential dilutive common shares primarily consist of employee stock options, restricted stock units (“RSUs”), performance share units (“PSUs”), Subsidiary Series A Preferred Stock and Subsidiary Warrants. As of July 3, 2026, the Subsidiary Series A Preferred Stock is anti-dilutive and the Subsidiary Warrants are not currently exercisable, therefore both instruments are excluded from the dilutive EPS calculation.
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