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L3harris Technologies, Inc. (LHX) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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  • 10-K Annual Report February 2022
  • 10-K Annual Report March 2021
    10-K Annual Report August 2019

L3harris Technologies, Inc.

CIK: 202058 Ticker: LHX
Exhibit 99.1
l3harrislogopra30.jpg newsreleasea17.jpg

Investor Relations Contact:
Rajeev Lalwani, 321-727-9383
rajeev.lalwani@l3harris.com

Media Relations Contact:
Jim Burke, 321-727-9131
jim.burke@l3harris.com

L3Harris Technologies Reports Fourth Quarter and 2021 Results; Initiates 2022 Guidance
Orders and revenue
2021 orders of $18.1 billion; funded book-to-bill of 1.02
Q4 revenue of $4.4 billion, down 7% versus prior year, and down 1% on an organic basis; 2021 revenue of $17.8 billion, down 2% versus prior year, and up 2% on an organic basis
Margins and earnings
Q4 GAAP net income margin of 11.1%, and GAAP earnings per share from continuing operations (EPS) of $2.46; 2021 GAAP net income margin of 10.3%, and GAAP EPS of $9.09
Q4 non-GAAP adjusted earnings before interest and taxes (EBIT) margin of 19.2%, and non-GAAP EPS of $3.30; 2021 non-GAAP adjusted EBIT margin of 19.1%, and non-GAAP EPS of $12.95
Cash flow and capital deployment
2021 operating cash flow of $2.7 billion and adjusted free cash flow (FCF) of $2.75 billion
Returned $4.5 billion to shareholders in share repurchases and dividends in 2021
Initiated 2022 financial guidance
___________________________________________________________________________________________
MELBOURNE, Fla., January 31, 2022
L3Harris Technologies, Inc. (NYSE: LHX) reported fourth quarter and 2021 results, and initiated its 2022 financial guidance.
“The L3Harris team delivered solid EPS growth, consistent with expectations, despite supply chain headwinds and budget uncertainty,” said Christopher E. Kubasik, Vice Chair and Chief Executive Officer. "In 2022, we look forward to taking the next step as the industry's trusted disruptor to deliver innovative and affordable solutions, and with a focus on creating value over the long term."


The following information was filed by L3harris Technologies, Inc. (LHX) on Monday, January 31, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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L3harris Technologies, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside L3harris Technologies, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Equity
Consolidated Statement Of Equity (Parenthetical)
Consolidated Statement Of Income
Accounting Changes Or Recent Accounting Pronouncements
Accrued Warranties
Accrued Warranties (Details)
Accrued Warranties (Tables)
Accumulated Other Comprehensive Loss ("Aoci")
Accumulated Other Comprehensive Loss ("Aoci") (Details)
Accumulated Other Comprehensive Loss ("Aoci") (Tables)
Backlog
Backlog (Details)
Business Combination
Business Combination (Tables)
Business Combination - Calculation Of Consideration Transferred (Details)
Business Combination - Identifiable Intangible Assets Acquired (Details)
Business Combination - Merger-Related Charges (Details)
Business Combination - Narrative (Details)
Business Combination - Preliminary Measurement Of Assets Acquired, Liabilities Assumed And Noncontrolling Interest (Details)
Business Combination - Pro Forma Results (Details)
Business Divestitures And Asset Sales
Business Divestitures And Asset Sales (Tables)
Business Divestitures And Asset Sales - Business Divestiture-Related Gain (Loss) (Details)
Business Divestitures And Asset Sales - Income Before Income Taxes Of Held For Sale Or Divested Businesses (Details)
Business Divestitures And Asset Sales - Narrative (Details)
Business Divestitures And Asset Sales - Sale Price And Net Cash Proceeds Of Completed Divestitures (Details)
Business Segments
Business Segments (Tables)
Business Segments - Disaggregation Of Revenue (Details)
Business Segments - Geographic Information (Details)
Business Segments - Narrative (Details)
Business Segments - Revenues And Income From Continuing Operations By Segment (Details)
Business Segments - Total Assets By Segment (Details)
Contract Assets And Contract Liabilities
Contract Assets And Contract Liabilities (Details)
Contract Assets And Contract Liabilities (Tables)
Contract Assets And Contract Liabilities - Narrative (Details)
Credit Arrangements
Credit Arrangements (Details)
Debt
Debt (Tables)
Debt - Debt Activity In Fiscal 2018 (Details)
Debt - Debt Activity In Fiscal 2020 (Details)
Debt - Debt Activity In Fiscal 2021 (Details)
Debt - Debt Activity In Two Quarters Ended January 3, 2020 (Details)
Debt - Debt Exchanged Narrative (Details)
Debt - Debt Issued Prior To Fiscal 2018 Still Outstanding (Details)
Debt - Fair Value Of Long-Term Debt (Details)
Debt - Long-Term Debt, Net (Details)
Debt - Potential Maturities Of Long-Term Debt (Details)
Debt - Schedule Of Debt Exchanged (Details)
Debt - Short-Term Debt And Interest Paid (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Fair Value Of Derivative Instruments In Condensed Consolidated Balance Sheet (Details)
Derivative Instruments And Hedging Activities - Narrative (Details)
Goodwill
Goodwill (Tables)
Goodwill - Changes In Carrying Amount Of Goodwill (Details)
Goodwill - Narrative (Details)
Income From Continuing Operations Per Share
Income From Continuing Operations Per Share (Details)
Income From Continuing Operations Per Share (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Income Tax Assets (Liabilities) (Details)
Income Taxes - Deferred Tax Assets, Net Of Valuation Allowance (Details)
Income Taxes - Narrative (Details)
Income Taxes - Provision For Current And Deferred Income Taxes (Details)
Income Taxes - Reconciliation Of Income Tax Rates (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Income Taxes - Total Income Tax Provision (Details)
Intangible Assets, Net
Intangible Assets, Net (Tables)
Intangible Assets, Net - Future Estimated Amortization Expense (Details)
Intangible Assets, Net - Narrative (Details)
Intangible Assets, Net - Summary Of Intangible Assets, Net (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Lease Commitments
Lease Commitments (Tables)
Lease Commitments - Future Lease Payments Under Non-Cancelable Operating And Finance Leases (Details)
Lease Commitments - Narrative (Details)
Lease Commitments - Supplemental Balance Sheet Information (Details)
Lease Commitments - Supplemental Cash Flow Information (Details)
Legal Proceedings And Contingencies
Legal Proceedings And Contingencies (Details)
Non-Operating Income
Non-Operating Income (Details)
Non-Operating Income (Tables)
Pension And Other Postretirement Benefits
Pension And Other Postretirement Benefits (Tables)
Pension And Other Postretirement Benefits - Accumulated Benefit Obligations In Excess Of Plan Assets (Details)
Pension And Other Postretirement Benefits - Assumptions Used To Determine Projected Benefits And Periodic Costs (Details)
Pension And Other Postretirement Benefits - Estimated Future Benefit Payments (Details)
Pension And Other Postretirement Benefits - Fair Value Of Deferred Compensation Plans (Details)
Pension And Other Postretirement Benefits - Funded Status Of Plan And Balance Sheet Information (Details)
Pension And Other Postretirement Benefits - Income Statement Information (Details)
Pension And Other Postretirement Benefits - Narrative (Details)
Pension And Other Postretirement Benefits - Pre-Tax Amounts Recorded In Accumulated Other Comprehensive Loss (Details)
Pension And Other Postretirement Benefits - Reconciliation Of Defined Benefit Plan Asset Balances (Details)
Pension And Other Postretirement Benefits - Roll Forward Of Plan Assets And Funded Status (Details)
Pension And Other Postretirement Benefits - Roll Forward Of Projected Benefit Obligations (Details)
Pension And Other Postretirement Benefits - Strategic Target Asset Allocation (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Details)
Property, Plant And Equipment, Net (Tables)
Property, Plant And Equipment, Net - Narrative (Details)
Receivables, Net
Receivables, Net (Details)
Receivables, Net (Tables)
Receivables, Net - Narrative (Details)
Research And Development
Research And Development (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Average Warranty Period By Segment (Details)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Net Estimated At Completion ("Eac") Adjustments (Details)
Stock Options And Other Share-Based Compensation
Stock Options And Other Share-Based Compensation (Tables)
Stock Options And Other Share-Based Compensation - Narrative (Details)
Stock Options And Other Share-Based Compensation - Nonvested Stock Options (Details)
Stock Options And Other Share-Based Compensation - Performance Shares Unit Awards Activity (Details)
Stock Options And Other Share-Based Compensation - Restricted Stock And Restricted Stock Unit Awards Activity (Details)
Stock Options And Other Share-Based Compensation - Share-Based Compensation Expense (Details)
Stock Options And Other Share-Based Compensation - Significant Fair Value Assumptions (Details)
Stock Options And Other Share-Based Compensation - Stock Options Activity (Details)
Subsequent Events
Subsequent Events (Details)
Transition Period Comparative Data (Unaudited)
Transition Period Comparative Data (Unaudited) (Details)
Transition Period Comparative Data (Unaudited) (Tables)
Ticker: LHX
CIK: 202058
Form Type: 10-K Annual Report
Accession Number: 0000202058-22-000015
Submitted to the SEC: Fri Feb 25 2022 4:08:24 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Search Detection Navagation Guidance Aeronautical Sys

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