v3.26.1
Acquisitions and Divestitures (Tables)
 6 Months Ended
Jul. 03, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Fair Values of the Assets Acquired and Liabilities Assumed at the Acquisition
The preliminary fair values of the assets acquired and liabilities assumed at the Acquisition Date were as follows (in millions):
Cash and cash equivalents$47 
Receivables162 
Other current assets18 
Property, plant and equipment12 
Intangible assets664 
Operating lease right-of-use assets22 
Deferred tax liabilities
(75)
Accounts payable and accrued liabilities(75)
Accrued payroll and employee benefits(21)
Operating lease liabilities(18)
Total identifiable net assets acquired736 
Goodwill1,652 
Purchase price$2,388 
Schedule of Preliminary Fair Value of Intangible Assets Acquire Weighted Average Amortization
The following table summarizes the preliminary fair value of intangible assets acquired at the Acquisition Date and the related weighted average amortization period:
Weighted Amortization Period Fair Value
(in years)
(in millions)
Customer relationships10$621 
Backlog243 
Total$664 
The following table summarizes the final fair value of intangible assets acquired at the Purchase Date and the related weighted average amortization period:
Weighted Amortization Period Fair Value
(in years)
(in millions)
Programs 7$60 
Backlog112 
Total$72 
Schedule of Pro Forma Information The pro forma information is not intended to reflect the actual results of operations that would have occurred if the acquisition had been completed on January 4, 2025, nor is it intended to be an indication of future operating results.
Three Months EndedSix Months Ended
(in millions, except per share amounts)July 3,
2026		July 4,
2025		July 3,
2026		July 4,
2025
Revenues$4,558 $4,394 $9,086 $8,772 
Net income355 390 697 730 
Net income attributable to Leidos common stockholders353 388 688 726 
Earnings per share:
Basic$2.80 $3.01 $5.46 $5.63 
Diluted2.80 2.98 5.41 5.59 
Schedule of Acquisition, Integration and Restructuring Costs
The following expenses were incurred related to the Company's acquisitions, integration and restructuring activities:
Three Months Ended
Six Months Ended
(in millions)
July 3,
2026		July 4,
2025
July 3,
2026		July 4,
2025
Acquisition costs$— $— $29 $— 
Integration costs3 1 
4 1 
Restructuring costs27 1 
37 5 
Total acquisition, integration and restructuring costs$30 $2 $70 $6 
Schedule of Major Classes of Assets and Liabilities Held for Sale The major classes of assets and liabilities classified as held for sale were as follows:
(in millions)
July 3,
2026
Cash and cash equivalents$41 
Receivables, net94 
Inventory, net250 
Other current assets14 
Property, plant and equipment, net36 
Intangible assets, net112 
Goodwill337 
Operating lease right-of-use assets, net46 
Other long-term assets5 
Total assets held for sale$935 
Accounts payable and accrued liabilities$76 
Accrued payroll and employee benefits18 
Operating lease liabilities45 
Other long-term liabilities
24 
Total liabilities held for sale
$163