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May 2022
May 2022
February 2022
February 2022
February 2022
February 2022
November 2021
October 2021
September 2021
August 2021
(in millions, except margin and per share amounts) | Three Months Ended | Year Ended | ||||||||||||||||||||||||
December 31, 2021 | January 1, 2021 | December 31, 2021 | January 1, 2021 | |||||||||||||||||||||||
Revenues | $ | 3,491 | $ | 3,252 | $ | 13,737 | $ | 12,297 | ||||||||||||||||||
Net income | $ | 176 | $ | 197 | $ | 759 | $ | 629 | ||||||||||||||||||
Net income margin | 5.0 | % | 6.1 | % | 5.5 | % | 5.1 | % | ||||||||||||||||||
Diluted earnings per share (EPS) | $ | 1.23 | $ | 1.37 | $ | 5.27 | $ | 4.36 | ||||||||||||||||||
Non-GAAP Measures*: | ||||||||||||||||||||||||||
Adjusted EBITDA | $ | 359 | $ | 366 | $ | 1,510 | $ | 1,326 | ||||||||||||||||||
Adjusted EBITDA margin | 10.3 | % | 11.3 | % | 11.0 | % | 10.8 | % | ||||||||||||||||||
Non-GAAP diluted EPS | $ | 1.56 | $ | 1.63 | $ | 6.62 | $ | 5.83 | ||||||||||||||||||
*Non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Management believes that these non-GAAP measures provide another measure of Leidos' results of operations and financial condition, including its ability to comply with financial covenants in our debt agreements. See Non-GAAP Financial Measures at the end of this press release for more information and a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures. |
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Leidos Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Our significant initiatives include the following: achieving annual revenue growth through internal collaboration and better leveraging of key differentiators across our company and the deployment of resources and investments into higher growth markets; increasing headcount and internal direct labor content on our contract portfolio; continued improvement in our back office infrastructure and related business processes for greater effectiveness and efficiency across all business functions; and disciplined deployment of our cash resources and use of our capital structure to enhance shareholder value while retaining an appropriate amount of financial leverage.
The decrease in operating income for fiscal 2021 as compared to fiscal 2020 was primarily attributable to a net decrease in volumes on certain products and product deliveries, partially offset by a $26 million benefit from an adjustment to legal reserves related to the Mission Support Alliance joint venture during the first quarter of fiscal 2021.
The effective tax rate for fiscal 2021 was favorably impacted primarily by federal research tax credits and excess tax benefits related to employee stock-based payment transactions.
The effective tax rate for fiscal 2020 was favorably impacted primarily by federal research tax credits and excess tax benefits related to employee stock-based payment transactions, partially offset by taxes related to foreign operations.
From a macroeconomic perspective, our industry is under general competitive pressures associated with spending from our largest customer, the U.S. government, and requires a high level of cost management focus to allow us to remain competitive.
Beginning in 2022, a provision...Read more
Stock repurchases of Leidos common...Read more
Summary of Cash Flows The...Read more
A significant change to these...Read more
Although our Credit Facilities and...Read more
We also have letters of...Read more
There is no obligation included...Read more
The increase was primarily due...Read more
A performance obligation's EAC includes...Read more
Annual Report - 43 PART...Read more
Annual Report - 39 PART...Read more
We have identified the following...Read more
In the event that there...Read more
For U.S. government contracts, continuous...Read more
During fiscal 2021 and 2020,...Read more
The increase in operating income...Read more
Pursuant to these registration rights...Read more
Operations of the reporting unit...Read more
The forecasts utilized to estimate...Read more
Goodwill and Intangible Assets Goodwill...Read more
Annual Report - 41 PART...Read more
Additionally, on July 12, 2021,...Read more
For fiscal 2021, operating expenses...Read more
Contracts with the U.S. government...Read more
The FAR provides guidance on...Read more
Operating income was $1,152 million,...Read more
We recognize purchased intangible assets...Read more
Key Performance Measures The primary...Read more
To determine the proper revenue...Read more
Goodwill and intangible assets, net...Read more
Additionally, we separately present the...Read more
The increase in operating income...Read more
Effective July 3, 2021, certain...Read more
Revenue Recognition Goodwill and Intangible...Read more
Similarly, for non-U.S. government contracts,...Read more
If contract modifications add distinct...Read more
Funded backlog for contracts with...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Leidos Holdings, Inc. provided additional information to their SEC Filing as exhibits
Ticker: LDOS
CIK: 1336920
Form Type: 10-K Annual Report
Accession Number: 0001336920-22-000007
Submitted to the SEC: Tue Feb 15 2022 12:06:38 PM EST
Accepted by the SEC: Tue Feb 15 2022
Period: Friday, December 31, 2021
Industry: Computer Integrated Systems Design