Leidos (LDOS) 10-Q29 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 27, 2024	Oct. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2024
Document Transition Report	false
Entity File Number	001-33072
Entity Registrant Name	Leidos Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3562868
Entity Address, Address Line One	1750 Presidents Street,
Entity Address, City or Town	Reston,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	571
Local Phone Number	526-6000
Title of 12(b) Security	Common stock, par value $.0001 per share
Trading Symbol	LDOS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		133,433,109
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001336920
Current Fiscal Year End Date	--01-03

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Assets:
Cash and cash equivalents	$ 1,185	$ 777
Receivables, net	2,706	2,429
Inventory, net	323	310
Other current assets	451	489
Total current assets	4,665	4,005
Property, plant and equipment, net	992	961
Intangible assets, net	558	667
Goodwill	6,123	6,112
Operating lease right-of-use assets, net	459	512
Other long-term assets	541	438
Total assets	13,338	12,695
Liabilities:
Accounts payable and accrued liabilities	2,287	2,277
Accrued payroll and employee benefits	903	695
Current portion of long-term debt	592	18
Total current liabilities	3,782	2,990
Long-term debt, net of current portion	4,081	4,664
Operating lease liabilities	467	516
Other long-term liabilities	341	267
Total liabilities	8,671	8,437
Commitments and contingencies (Note 11)
Stockholders’ equity:
Common stock, $0.0001 par value, 500,000,000 shares authorized, 133,337,275 and 135,766,419 shares issued and outstanding at September 27, 2024, and December 29, 2023, respectively	0	0
Additional paid-in capital	1,469	1,885
Retained earnings	3,179	2,364
Accumulated other comprehensive loss	(34)	(48)
Total Leidos stockholders’ equity	4,614	4,201
Non-controlling interest	53	57
Total stockholders' equity	4,667	4,258
Total liabilities and stockholders' equity	$ 13,338	$ 12,695

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 27, 2024	Dec. 29, 2023
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	133,337,275	135,766,419
Common stock, shares outstanding (in shares)	133,337,275	135,766,419

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Statement [Abstract]
Revenues	$ 4,190	$ 3,921	$ 12,297	$ 11,458
Cost of revenues	3,428	3,334	10,192	9,809
Selling, general and administrative expenses	247	239	704	709
Acquisition, integration and restructuring costs	3	5	14	14
Goodwill impairment charges	0	599	0	599
Asset impairment charges	6	88	6	88
Equity earnings of non-consolidated subsidiaries	(10)	(8)	(25)	(21)
Operating income (loss)	516	(336)	1,406	260
Non-operating income (expense):
Interest expense, net	(46)	(53)	(146)	(163)
Other income (expense), net	0	1	4	(4)
Income (loss) before income taxes	470	(388)	1,264	93
Income tax expense	(108)	(8)	(295)	(115)
Net income (loss)	362	(396)	969	(22)
Less: net (loss) income attributable to non-controlling interest	(2)	3	(1)	8
Net income (loss) attributable to Leidos common stockholders	$ 364	$ (399)	$ 970	$ (30)
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 2.72	$ (2.91)	$ 7.19	$ (0.22)
Diluted (in dollars per share)	$ 2.68	$ (2.91)	$ 7.13	$ (0.22)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 362	$ (396)	$ 969	$ (22)
Foreign currency translation adjustments	37	(31)	18	(19)
Unrecognized loss on derivative instruments	(5)	0	(4)	(1)
Pension adjustments	(1)	(1)	0	(2)
Total other comprehensive income (loss), net of taxes	31	(32)	14	(22)
Comprehensive income (loss)	393	(428)	983	(44)
Less: net (loss) income attributable to non-controlling interest	(2)	3	(1)	8
Comprehensive income (loss) attributable to Leidos common stockholders	$ 395	$ (431)	$ 984	$ (52)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Leidos stockholders' equity	Shares of common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Non-controlling interest
Beginning balance (in shares) at Dec. 30, 2022			137,000,000
Beginning balance at Dec. 30, 2022	$ 4,353	$ 4,299		$ 2,005	$ 2,367	$ (73)	$ 54
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	164	162			162		2
Other comprehensive income (loss), net of taxes	9	9				9
Issuances of stock	14	14		14
Repurchases of stock and other	(43)	(43)		(43)
Dividends	(50)	(50)			(50)
Stock-based compensation	18	18		18
Net capital distributions to non-controlling interest	(1)						(1)
Ending balance (in shares) at Mar. 31, 2023			137,000,000
Ending balance at Mar. 31, 2023	4,464	4,409		1,994	2,479	(64)	55
Beginning balance (in shares) at Dec. 30, 2022			137,000,000
Beginning balance at Dec. 30, 2022	4,353	4,299		2,005	2,367	(73)	54
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(22)
Other comprehensive income (loss), net of taxes	(22)
Ending balance (in shares) at Sep. 29, 2023			138,000,000
Ending balance at Sep. 29, 2023	4,203	4,146		2,055	2,186	(95)	57
Beginning balance (in shares) at Mar. 31, 2023			137,000,000
Beginning balance at Mar. 31, 2023	4,464	4,409		1,994	2,479	(64)	55
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	210	207			207		3
Other comprehensive income (loss), net of taxes	1	1				1
Issuances of stock	14	14		14
Dividends	(50)	(50)			(50)
Stock-based compensation	19	19		19
Net capital distributions to non-controlling interest	(5)	(3)		(3)			(2)
Ending balance (in shares) at Jun. 30, 2023			137,000,000
Ending balance at Jun. 30, 2023	4,653	4,597		2,024	2,636	(63)	56
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(396)	(399)			(399)		3
Other comprehensive income (loss), net of taxes	(32)	(32)				(32)
Issuances of stock (in shares)			1,000,000
Issuances of stock	12	12		12
Repurchases of stock and other	(1)	(1)		(1)
Dividends	(51)	(51)			(51)
Stock-based compensation	20	20		20
Net capital distributions to non-controlling interest	(2)						(2)
Ending balance (in shares) at Sep. 29, 2023			138,000,000
Ending balance at Sep. 29, 2023	$ 4,203	4,146		2,055	2,186	(95)	57
Beginning balance (in shares) at Dec. 29, 2023	135,766,419		136,000,000
Beginning balance at Dec. 29, 2023	$ 4,258	4,201		1,885	2,364	(48)	57
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	283	284			284		(1)
Other comprehensive income (loss), net of taxes	(24)	(24)				(24)
Issuances of stock	14	14		14
Repurchases of stock and other (in shares)			(1,000,000)
Repurchases of stock and other	(184)	(184)		(184)
Dividends	(53)	(53)			(53)
Stock-based compensation	20	20		20
Net capital distributions to non-controlling interest	(1)						(1)
Ending balance (in shares) at Mar. 29, 2024			135,000,000
Ending balance at Mar. 29, 2024	$ 4,313	4,258		1,735	2,595	(72)	55
Beginning balance (in shares) at Dec. 29, 2023	135,766,419		136,000,000
Beginning balance at Dec. 29, 2023	$ 4,258	4,201		1,885	2,364	(48)	57
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	969
Other comprehensive income (loss), net of taxes	$ 14
Ending balance (in shares) at Sep. 27, 2024	133,337,275		133,000,000
Ending balance at Sep. 27, 2024	$ 4,667	4,614		1,469	3,179	(34)	53
Beginning balance (in shares) at Mar. 29, 2024			135,000,000
Beginning balance at Mar. 29, 2024	4,313	4,258		1,735	2,595	(72)	55
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	324	322			322		2
Other comprehensive income (loss), net of taxes	7	7				7
Issuances of stock (in shares)			1,000,000
Issuances of stock	14	14		14
Repurchases of stock and other (in shares)			(1,000,000)
Repurchases of stock and other	(115)	(115)		(115)
Dividends	(51)	(51)			(51)
Stock-based compensation	20	20		20
Net capital distributions to non-controlling interest	(2)						(2)
Ending balance (in shares) at Jun. 28, 2024			135,000,000
Ending balance at Jun. 28, 2024	4,510	4,455		1,654	2,866	(65)	55
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	362	364			364		(2)
Other comprehensive income (loss), net of taxes	31	31				31
Issuances of stock	1	1		1
Repurchases of stock and other (in shares)			(2,000,000)
Repurchases of stock and other	(205)	(205)		(205)
Dividends	(51)	(51)			(51)
Stock-based compensation	$ 19	19		19
Ending balance (in shares) at Sep. 27, 2024	133,337,275		133,000,000
Ending balance at Sep. 27, 2024	$ 4,667	$ 4,614		$ 1,469	$ 3,179	$ (34)	$ 53

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 27, 2024	Jun. 28, 2024	Mar. 29, 2024	Sep. 29, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.38	$ 0.38	$ 0.38	$ 0.36	$ 0.36	$ 0.36

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 27, 2024	Mar. 29, 2024	Sep. 29, 2023	Mar. 31, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 29, 2023
Cash flows from operations:
Net income (loss)	$ 362	$ 283	$ (396)	$ 164	$ 969	$ (22)
Adjustments to reconcile net income (loss) to net cash provided by operations:
Depreciation and amortization					211	248
Stock-based compensation					59	57
Deferred income taxes					(96)	(192)
Goodwill impairment charges	0		599		0	599	$ 596
Asset impairment charges	6		88		6	88
Other					5	25
Change in assets and liabilities, net of effects of acquisitions:
Receivables					(260)	(109)
Other current assets and other long-term assets					102	141
Accounts payable and accrued liabilities and other long-term liabilities					(149)	22
Accrued payroll and employee benefits					208	105
Income taxes receivable/payable					38	(101)
Net cash provided by operating activities					1,093	861
Cash flows from investing activities:
Acquisition of a business, net of cash acquired					0	(6)
Payments for property, equipment and software					(63)	(129)
Net proceeds from sale of assets					2	0
Other					5	0
Net cash used in investing activities					(56)	(135)
Cash flows from financing activities:
Proceeds from debt issuance					0	1,743
Repayments of borrowings					(14)	(2,041)
Payments for debt issuance costs					0	(7)
Dividend payments					(155)	(150)
Repurchases of stock and other					(500)	(44)
Proceeds from issuances of stock					28	37
Net capital distributions to non-controlling interests					(3)	(8)
Net cash used in financing activities					(644)	(470)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash					5	0
Net increase in cash, cash equivalents and restricted cash					398	256
Cash, cash equivalents and restricted cash at beginning of period		$ 928		$ 683	928	683	683
Cash, cash equivalents and restricted cash at end of period	1,326		939		1,326	939	928
Less: restricted cash at end of period	141		189		141	189
Cash and cash equivalents at end of period	$ 1,185		$ 750		1,185	750	$ 777
Supplementary cash flow information:
Cash paid for income taxes, net of refunds					276	325
Cash paid for interest					167	160
Noncash Investing and Financing Items [Abstract]
Property, plant and equipment additions					72	2
Finance lease obligations					$ 0	$ 65

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 1–Basis of Presentation and Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation Leidos Holdings, Inc. ("Leidos"), a Delaware corporation, is a holding company whose direct 100%-owned subsidiary and principal operating company is Leidos, Inc. Leidos, a member of the Fortune 500®, is a dynamic innovation company that is at the forefront of addressing the world’s most challenging issues in national security and health sectors. With a global workforce of approximately 48,000, Leidos is committed to developing smarter technology solutions, particularly for customers in highly regulated industries. Leidos' customers include the U.S. Department of Defense ("DoD"), the U.S. Intelligence Community, the U.S. Department of Homeland Security, the Federal Aviation Administration, the Department of Veterans Affairs, National Aeronautics and Space Administration ("NASA") and many other U.S. civilian, state and local government agencies, foreign government agencies and commercial businesses. Unless indicated otherwise, references to "we," "us" and "our" refer collectively to Leidos Holdings, Inc. and its consolidated subsidiaries. During the quarter ended March 29, 2024, we completed a realignment of our segment and reporting structure, which resulted in the identification of four reportable segments: National Security & Digital, Health & Civil, Commercial & International and Defense Systems. We commenced operating and reporting under the new organizational structure effective the first day of fiscal 2024. In addition, we separately present the unallocable costs associated with corporate functions as Corporate. As a result of this change, prior year segment results and disclosures have been recast to reflect the current reportable segment structure. We have a controlling interest in Mission Support Alliance, LLC ("MSA"), a joint venture with Centerra Group, LLC. We also have a controlling interest in Hanford Mission Integration Solutions, LLC ("HMIS"), the legal entity for the follow-on contract to MSA's contract and a joint venture with Centerra Group, LLC and Parsons Government Services, Inc. The financial results for MSA and HMIS are consolidated into our unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements also include the balances of all voting interest entities in which Leidos has a controlling voting interest ("subsidiaries") and a variable interest entity ("VIE") in which Leidos is the primary beneficiary. The consolidated balances of the VIE are not material to the unaudited condensed consolidated financial statements for the periods presented. Intercompany accounts and transactions between consolidated companies have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules of the U.S. Securities and Exchange Commission and accounting principles generally accepted in the United States of America ("GAAP"). Certain disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. Management evaluates these estimates and assumptions on an ongoing basis, including those relating to estimated profitability of long-term contracts, indirect billing rates, allowances for doubtful accounts, inventories, right-of-use assets and lease liabilities, fair value and impairment of intangible assets and goodwill, income taxes, stock-based compensation expense and contingencies. These estimates have been prepared by management on the basis of the most current and best available information; however, actual results could differ materially from those estimates. Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. We combined "Deferred tax liabilities" into "Other long-term liabilities" on the condensed consolidated balance sheets. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which consist of normal recurring adjustments, necessary for a fair presentation thereof. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of the results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K filed on February 13, 2024. Accounting Standards Updates Issued But Not Yet Adopted ASU 2023-07 Segment Reporting In November 2023, the FASB issued ASU 2023-07, to improve reportable segment disclosure requirements. This update requires companies to disclose significant segment expense categories that are regularly provided to the chief operating decision maker ("CODM") on an interim and annual basis and expands disclosure requirements for interim reporting. Companies must also disclose how segment measures of profit or loss are used by the CODM. The amendments in this update are effective for public entities for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments should be adopted on a retrospective basis and early adoption is permitted. We will adopt these amendments for annual disclosures in fiscal 2024 and interim disclosures in fiscal 2025. ASU 2023-09 Income Taxes In December 2023, the FASB issued ASU 2023-09, to enhance the transparency and usefulness of income tax disclosures. The update requires enhancements to the annual rate reconciliation, including disclosure of specific categories and additional information for reconciling items meeting a quantitative threshold. The update also requires disclosure of income taxes paid disaggregated by federal, state and foreign taxes, and individual jurisdictions meeting a quantitative threshold. The amendments in this update are effective for public business entities for annual periods beginning after December 15, 2024, and may be adopted on a prospective or retrospective basis. Early adoption is permitted. We are currently evaluating the impacts of this update and plan to adopt these amendments using the prospective approach for annual disclosures in fiscal 2025. Changes in Estimates on Contracts Changes in estimates related to contracts accounted for using the cost-to-cost method of accounting are recognized in the period in which such changes are made for the inception-to-date effect of the changes, with the exception of contracts acquired through a business combination, where the adjustment is made for the period commencing from the date of acquisition. Changes in estimates on contracts were as follows: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions, except per share data) Favorable impact $ 58 $ 40 $ 125 $ 102 Unfavorable impact (28) (24) (107) (62) Net impact to income before income taxes $ 30 $ 16 $ 18 $ 40 Impact on diluted EPS attributable to Leidos common stockholders $ 0.17 $ 0.09 $ 0.10 $ 0.22 The unfavorable impact for the nine months ended September 27, 2024, included $41 million in write-downs on programs within our UK operations related to cost increases and schedule delays. The impact on diluted earnings per share ("EPS") attributable to Leidos common stockholders is calculated using the statutory tax rate. Revenue Recognized from Prior Obligations Revenue recognized from performance obligations satisfied in previous periods was $78 million and $12 million for the three and nine months ended September 27, 2024, respectively, and $13 million and $14 million for the three and nine months ended September 29, 2023, respectively. The changes primarily relate to revisions of variable consideration including award and incentive fees, and revisions to estimates at completion resulting from changes in contract scope, mitigation of contract risks or true-ups of contract estimates at the end of contract performance. Cash and Cash Equivalents Our cash equivalents are primarily comprised of investments in several large institutional money market accounts, with original maturity of three months or less. At September 27, 2024, and December 29, 2023, $91 million and $136 million, respectively, of outstanding payments were included within "Cash and cash equivalents" and "Accounts payable and accrued liabilities" correspondingly on the condensed consolidated balance sheets. Restricted Cash We have restricted cash balances, primarily representing advances from customers that are restricted for use on certain expenditures related to that customer's contract. Restricted cash balances are included as "Other current assets" in the condensed consolidated balance sheets. Our restricted cash balances were $141 million and $151 million at September 27, 2024, and December 29, 2023, respectively.

Revenues

Revenues	9 Months Ended
Revenues	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Note 2–Revenues Remaining Performance Obligations Remaining performance obligations ("RPO") represent the expected value of exercised contracts, both funded and unfunded, less revenue recognized to date. RPO 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. As of September 27, 2024, we had $16 billion of RPO and expect to recognize approximately 66% and 82% over the next 12 months and 24 months, respectively, with the remainder to be recognized thereafter. Disaggregation of Revenues We disaggregate revenues by customer-type, contract-type and geographic location for each of our reportable segments. Disaggregated revenues by customer-type were as follows: Three Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 1,281 $ 243 $ 15 $ 475 $ 2,014 Other U.S. government agencies (1) 540 964 114 18 1,636 Commercial and non-U.S. customers 26 16 448 29 519 Total $ 1,847 $ 1,223 $ 577 $ 522 $ 4,169 Three Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 1,235 $ 257 $ 11 $ 444 $ 1,947 Other U.S. government agencies (1) 570 776 91 31 1,468 Commercial and non-U.S. customers 33 16 446 (13) 482 Total $ 1,838 $ 1,049 $ 548 $ 462 $ 3,897 (1) Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies. Nine Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 3,749 $ 755 $ 29 $ 1,341 $ 5,874 Other U.S. government agencies (1) 1,585 2,867 268 64 4,784 Commercial and non-U.S. customers 87 48 1,348 86 1,569 Total $ 5,421 $ 3,670 $ 1,645 $ 1,491 $ 12,227 Nine Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 3,582 $ 797 $ 26 $ 1,219 $ 5,624 Other U.S. government agencies (1) 1,682 2,230 236 91 4,239 Commercial and non-U.S. customers 99 45 1,319 63 1,526 Total $ 5,363 $ 3,072 $ 1,581 $ 1,373 $ 11,389 (1) Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies. Disaggregated revenues by contract-type were as follows: Three Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 980 $ 433 $ 94 $ 326 $ 1,833 Firm-fixed-price 511 737 378 155 1,781 Time-and-materials and fixed-price-level-of-effort 356 53 105 41 555 Total $ 1,847 $ 1,223 $ 577 $ 522 $ 4,169 Three Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 993 $ 467 $ 89 $ 301 $ 1,850 Firm-fixed-price 509 537 367 134 1,547 Time-and-materials and fixed-price-level-of-effort 336 45 92 27 500 Total $ 1,838 $ 1,049 $ 548 $ 462 $ 3,897 Nine Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 2,874 $ 1,331 $ 269 $ 940 $ 5,414 Firm-fixed-price 1,497 2,176 1,049 437 5,159 Time-and-materials and fixed-price-level-of-effort 1,050 163 327 114 1,654 Total $ 5,421 $ 3,670 $ 1,645 $ 1,491 $ 12,227 Nine Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 2,876 $ 1,542 $ 263 $ 840 $ 5,521 Firm-fixed-price 1,513 1,394 1,005 425 4,337 Time-and-materials and fixed-price-level-of-effort 974 136 313 108 1,531 Total $ 5,363 $ 3,072 $ 1,581 $ 1,373 $ 11,389 Disaggregated revenues by geographic location were as follows: Three Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 1,840 $ 1,222 $ 257 $ 511 $ 3,830 International 7 1 320 11 339 Total $ 1,847 $ 1,223 $ 577 $ 522 $ 4,169 Three Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 1,831 $ 1,047 $ 221 $ 458 $ 3,557 International 7 2 327 4 340 Total $ 1,838 $ 1,049 $ 548 $ 462 $ 3,897 Nine Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 5,398 $ 3,666 $ 692 $ 1,458 $ 11,214 International 23 4 953 33 1,013 Total $ 5,421 $ 3,670 $ 1,645 $ 1,491 $ 12,227 Nine Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 5,336 $ 3,069 $ 630 $ 1,362 $ 10,397 International 27 3 951 11 992 Total $ 5,363 $ 3,072 $ 1,581 $ 1,373 $ 11,389 Revenues by customer-type, contract-type and geographic location exclude lease income of $21 million and $70 million for the three and nine months ended September 27, 2024, respectively, and $24 million and $69 million for the three and nine months ended September 29, 2023, respectively. Contract Assets and Liabilities Performance obligations are satisfied either over time as work progresses or at a point in time. Firm-fixed-price contracts are typically billed to the customer using milestone payments while cost-reimbursable and time and materials contracts are typically billed to the customer on a monthly or bi-weekly basis as indicated by the negotiated billing terms and conditions of the contract. As a result, the timing of revenue recognition, customer billings and cash collections for each contract results in a net contract asset or liability at the end of each reporting period. Contract assets consist of unbilled receivables, which is the amount of revenue recognized that exceeds the amount billed to the customer. Unbilled receivables exclude amounts billable where the right to consideration is solely subject to the passage of time. Contract liabilities consist of deferred revenue, which represents cash advances received prior to performance for programs and billings in excess of revenue recognized. The components of contract assets and contract liabilities consisted of the following: Balance sheet line item September 27, December 29, (in millions) Contract assets - current: Unbilled receivables Receivables, net $ 1,137 $ 1,041 Contract liabilities - current: Deferred revenue (1) Accounts payable and accrued liabilities $ 353 $ 442 Contract liabilities - non-current: Deferred revenue (1) Other long-term liabilities $ 13 $ 21 (1) Certain contracts record revenue net of cost of revenues, and therefore, the respective deferred revenue balance will not fully convert to revenue. The increase in unbilled receivables was primarily due to revenue recognized on certain contracts, partially offset by the timing of billings. The decrease in deferred revenue was primarily due to revenue recognized during the period, offset by the timing of advanced payments from customers. For the three and nine months ended September 27, 2024, $45 million and $256 million, respectively, of revenue recognized was included as a contract liability at December 29, 2023. For the three and nine months ended September 29, 2023, $28 million and $215 million, respectively, of revenue recognized was included as a contract liability at December 30, 2022.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 3–Goodwill and Intangible Assets Goodwill During the quarter ended March 29, 2024, the Company completed a business realignment, which resulted in identification of new reportable segments. The Company commenced operating and reporting under the new organizational structure effective the first day of fiscal 2024 (see "Note 10–Business Segments). Goodwill was allocated to the new reporting units within our reportable segments based on a relative fair value approach. The following table presents changes in the carrying amount of goodwill by reportable segment: National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Goodwill at December 30, 2022 $ 2,755 $ 1,366 $ 1,389 $ 1,186 $ 6,696 Goodwill impairment — — (596) — (596) Acquisitions of a business (1) — — (4) — (4) Foreign currency translation adjustments 3 — 11 2 16 Goodwill at December 29, 2023 (2) $ 2,758 $ 1,366 $ 800 $ 1,188 $ 6,112 Foreign currency translation adjustments — — 11 — 11 Goodwill at September 27, 2024 (2) $ 2,758 $ 1,366 $ 811 $ 1,188 $ 6,123 (1) Adjustment to goodwill resulting from a measurement period purchase accounting adjustment. (2) Carrying amount includes accumulated impairment loss of $596 million within the Commercial & International segment. We evaluate qualitative factors that could cause us to consider whether the estimated fair value of each of our reporting units may be lower than the carrying value and trigger a quantitative assessment, including, but not limited to (i) macroeconomic conditions, (ii) industry and market considerations, (iii) our overall financial performance, including an analysis of our current and projected cash flows, revenues and earnings, (iv) a sustained decrease in share price and (v) other relevant entity-specific events including changes in management, strategy, partners or litigation. Operations of the Security Enterprise Solutions (“SES”) reporting unit rely heavily on the sales and servicing of security and detection products, which prior to fiscal 2024, have been negatively impacted due to delays in airline travel infrastructure projects as customer budgets recover from the pandemic. During fiscal 2023, the SES reporting unit refined its portfolio and made strategic business decisions to exit certain product offerings, and cease operations in certain countries in order to align the operations of the reporting unit with its strategic business plan. These decisions, along with the delays in airline travel infrastructure projects and higher than anticipated servicing costs, contributed to a significant reduction in the reporting unit’s forecasted revenue and cash flows. Accordingly, we recognized a non-cash goodwill impairment charge of $596 million at the SES reporting unit during the fiscal year ended December 29, 2023. The impairment was recorded within the Commercial & International reportable segment in the condensed consolidated statements of operations. In the event that there are significant unfavorable changes to the forecasted cash flows, forecasted revenue, terminal growth rates or the cost of capital used in the fair value estimates, we may be required to record an additional impairment of goodwill at a future date. In conjunction with the change in reportable segments in fiscal 2024, the Company evaluated goodwill for impairment both before and after the segment change and determined that goodwill was not impaired. Intangible Assets Intangible assets, net consisted of the following: September 27, 2024 December 29, 2023 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value (in millions) Finite-lived intangible assets: Programs $ 1,689 $ (1,264) $ 425 $ 1,689 $ (1,175) $ 514 Software and technology 264 (161) 103 263 (144) 119 Customer relationships 53 (27) 26 52 (22) 30 Total finite-lived intangible assets 2,006 (1,452) 554 2,004 (1,341) 663 Indefinite-lived intangible assets: Trade names 4 — 4 4 — 4 Total intangible assets $ 2,010 $ (1,452) $ 558 $ 2,008 $ (1,341) $ 667 Our strategic decisions regarding SES’ product offerings and operating regions (see the goodwill discussion above) caused certain technology and in-process research and development intangible assets to be abandoned and the carrying values of certain program intangible assets to become unrecoverable. As a result, for the three and nine months ended September 29, 2023, we recognized intangible asset impairment charges of $79 million. The impairment was recorded to “Asset impairment charges” in the condensed consolidated statements of operations within the Commercial & International reportable segment. Amortization expense was $37 million and $110 million for the three and nine months ended September 27, 2024, respectively, and $50 million and $153 million for the three and nine months ended September 29, 2023, respectively. Program intangible assets are amortized over their respective estimated useful lives in proportion to the pattern of economic benefit based on expected future discounted cash flows. Customer relationships and software and technology intangible assets are amortized either on a straight-line basis over their estimated useful lives or over their respective estimated useful lives in proportion to the pattern of economic benefit based on expected future discounted cash flows, as deemed appropriate. The estimated annual amortization expense as of September 27, 2024, was as follows: Fiscal year ending (in millions) 2024 (remainder of year) $ 37 2025 120 2026 99 2027 73 2028 62 2029 and thereafter 163 $ 554

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 27, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4–Fair Value Measurements The accounting standard for fair value measurements establishes a three-level fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: observable inputs such as quoted prices in active markets (Level 1); inputs other than quoted prices in active markets that are observable, either directly or indirectly, or quoted prices that are not active (Level 2); and unobservable inputs in which there is little or no market data (e.g., discounted cash flow and other similar pricing models), which requires us to develop our own market participant assumptions used in pricing the asset or liability (Level 3). The financial instruments measured at fair value on a recurring basis primarily consisted of the following: September 27, 2024 December 29, 2023 Carrying value Fair value Carrying value Fair value (in millions) Financial assets: Derivatives $ 4 $ 4 $ 11 $ 11 As of September 27, 2024, and December 29, 2023, our derivatives primarily consisted of the cash flow interest rate swaps on $500 million of the variable rate senior unsecured term loan (see "Note 5–Derivative Instruments"). The fair value of the cash flow interest rate swaps is determined based on observed values for underlying interest rates on the one-month Secured Overnight Financing Rate ("SOFR") rate (Level 2 inputs). The carrying amounts of our financial instruments, other than derivatives, which include cash equivalents, accounts receivable, accounts payable and accrued expenses, are reasonable estimates of their related fair values. As of September 27, 2024, and December 29, 2023, the fair value of debt was $4.6 billion for both periods, and the carrying amount was $4.7 billion for both periods (see "Note 6–Debt"). The fair value of long-term debt is determined based on current interest rates available for debt with terms and maturities similar to our existing debt arrangements and our credit rating (Level 2 inputs). During the three months ended September 29, 2023, we recorded impairment charges of SES' goodwill (see "Note 3–Goodwill and Intangible Assets"). The fair values of the assets and liabilities of the SES reporting unit were determined using a blended approach, including discounted cash flow models and market earnings multiples. The market approach estimates fair value based on profitability and valuation metrics for peer companies and applies a multiple to the reporting unit's operating performance. The income approach estimates fair value by discounting the reporting unit's estimated future cash flows using a weighted-average cost of capital reflecting current market conditions as well as the risk profile of the reporting unit. Future cash flows are based on estimates of economic and market assumptions made using the best judgment of management, including growth rates in revenue and margins, and future changes in tax rates and cash expenditures. Other significant assumptions and estimates include estimates of future capital expenditures, terminal value growth rates, and changes in future working capital requirements. The fair value of the SES reporting unit was determined using Level 3 inputs.

Derivative Instruments

Derivative Instruments	9 Months Ended
Derivative Instruments	Sep. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 5–Derivative Instruments We manage our risk to changes in interest rates through the use of derivative instruments. We do not hold derivative instruments for trading or speculative purposes. For variable rate borrowings, we use fixed interest rate swaps, effectively converting a portion of the variable interest rate payments to fixed interest rate payments. These swaps are designated as cash flow hedges. The fair value of the interest rate swaps was as follows: Asset derivatives Balance sheet line item September 27, December 29, (in millions) Cash flow interest rate swaps Other current assets (1) $ 4 $ 11 (1) As of December 29, 2023, the cash flow interest rate swaps were reported in the "other long-term assets" on the condensed consolidated balance sheet. The cash flows associated with the interest rate swaps are classified as operating activities in the condensed consolidated statements of cash flows. Cash Flow Hedges We have interest rate swap agreements to hedge the cash flows of $500 million of the variable rate senior unsecured term loan (the "Variable Rate Loan"). These interest rate swap agreements have a maturity date of August 2025 and a fixed interest rate of 2.96%. The objective of these instruments is to reduce variability in the forecasted interest payments of the Variable Rate Loan. Under the terms of the interest rate swap agreements, we will receive monthly variable interest payments based on the one-month SOFR and will pay interest at a fixed rate. The interest rate swap transactions are accounted for as cash flow hedges. The gain/loss on the swaps is reported as a component of other comprehensive (loss) income and is reclassified into earnings when the interest payments on the underlying hedged items impact earnings. A qualitative assessment of hedge effectiveness is performed on a quarterly basis, unless facts and circumstances indicate the hedge may no longer be highly effective. The effect of the cash flow hedges on other comprehensive (loss) income and earnings for the periods presented was as follows: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions) Total interest expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded $ 46 $ 53 $ 146 $ 163 Amount recognized in other comprehensive income (loss) $ (4) $ 3 $ 3 $ 11 Amount reclassified from accumulated other comprehensive loss to interest expense, net $ (3) $ (3) $ (9) $ (12) We expect to reclassify net gains of $3 million from accumulated other comprehensive loss into earnings during the next 12 months.

Debt

Debt	9 Months Ended
Debt	Sep. 27, 2024
Debt Disclosure [Abstract]
Debt	Note 6–Debt Our debt consisted of the following: Stated interest rate Effective interest rate September 27, December 29, (in millions) Senior unsecured term loan: $1,000 million term loan, due March 2028 6.46% 6.64% $ 1,000 $ 1,000 Senior unsecured notes: $500 million notes, due May 2025 3.63% 3.76% 500 500 $750 million notes, due May 2030 4.38% 4.50% 750 750 $1,000 million notes, due February 2031 2.30% 2.38% 1,000 1,000 $250 million notes, due July 2032 7.13% 7.43% 250 250 $750 million notes, due March 2033 5.75% 5.81% 750 750 $300 million notes, due July 2033 5.50% 5.88% 161 161 $300 million notes, due December 2040 5.95% 6.03% 218 218 Finance leases due on various dates through fiscal 2032 Various 1.84%-6.31% 78 91 Less: unamortized debt discounts and deferred debt issuance costs (34) (38) Total long-term debt 4,673 4,682 Less current portion (592) (18) Total long-term debt, net of current portion $ 4,081 $ 4,664 Term Loans and Revolving Credit Facility On March 10, 2023 (the “Closing Date”), we entered into a Credit Agreement (the “Credit Agreement”) with certain financial institutions, which provided for a senior unsecured term loan facility in an aggregate principal amount of $1.0 billion (the “Term Loan Facility”) and a $1.0 billion senior unsecured revolving facility (the “Revolving Facility” and, together with the Term Loan Facility, the “Credit Facilities”). The Credit Facilities will mature in March 2028. The Revolving Facility is subject to an annual commitment fee rate of 0.125% on the unused credit availability and permits two additional one-year extensions subject to lender consent. As of September 27, 2024, and December 29, 2023, there were no borrowings outstanding under the Revolving Facility. The proceeds of the Term Loan Facility and cash on hand on the Closing Date were used to repay in full all indebtedness, terminate all commitments and discharge all guarantees existing in connection with a predecessor $1.9 billion senior unsecured term loan facility and a $750 million senior unsecured revolving facility. Borrowings under the Credit Agreement bear interest at a rate determined, at our option, based on either an alternate base rate or a Term SOFR rate with a 0.10% per annum Term SOFR adjustment, plus, in each case, an applicable margin that varies depending on our credit rating. The applicable margin range for Term SOFR-denominated borrowings is from 1.00% to 1.50%. Based on our current ratings, the applicable margin for Term SOFR-denominated borrowings is 1.25%. Principal payments are made quarterly on the Term Loan Facility beginning in March 2025, with the majority of the principal due at maturity. Interest on the Term Loan Facility for Term SOFR-denominated borrowings is payable on a periodic basis, which must be at least quarterly. Senior Notes In fiscal 2023, we issued and sold $750 million aggregate principal amount of fixed-rate senior notes (the “Notes”) maturing in March 2033. The Notes are senior unsecured obligations issued by Leidos, Inc. and guaranteed by Leidos Holdings, Inc. The annual interest rate for the Notes is 5.75% and is payable on a semi-annual basis. In connection with the issuance of the Notes, $11 million of debt issuance costs and discount were recognized, which were recorded as an offset against the carrying value of debt. Commercial Paper We have a commercial paper program in which the Company may issue short-term unsecured commercial paper notes ("Commercial Paper Notes") not to exceed $1.0 billion. The proceeds will be used for general corporate purposes, including working capital, capital expenditures, acquisitions and share repurchases. The Commercial Paper Notes are issued in minimum denominations of $0.25 million and have maturities of up to 397 days from the date of issuance. The Commercial Paper Notes either bear a stated or floating interest rate, if interest bearing, or will be sold at a discount from the face amount. As of September 27, 2024, and December 29, 2023, we did not have any Commercial Paper Notes outstanding. Covenants The Credit Facilities, Commercial Paper Notes and senior unsecured notes are fully and unconditionally guaranteed and contain certain customary restrictive covenants, including among other things, restrictions on our ability to create liens and enter into sale and leaseback transactions under certain circumstances. The financial covenants in the Credit Agreement require that we maintain, as of the last day of each fiscal quarter, a ratio of adjusted consolidated total debt to consolidated EBITDA of not more than 3.75 to 1.00, subject to increases to 4.50 to 1.00 for four fiscal quarters following a material acquisition, and a ratio of EBITDA to consolidated interest expense of not less than 3.50 to 1.00. We were in compliance with all covenants as of September 27, 2024.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 27, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 7–Accumulated Other Comprehensive Income (Loss) Changes in the components of Accumulated Other Comprehensive Income (Loss) ("AOCI") were as follows: Foreign currency translation adjustments Unrecognized gain (loss) on derivative instruments Pension adjustments Total AOCI (in millions) Balance at December 30, 2022 $ (73) $ 13 $ (13) $ (73) Other comprehensive income (loss) 36 6 (1) 41 Taxes (2) 1 — (1) Reclassification from AOCI — (15) — (15) Balance at December 29, 2023 (39) 5 (14) (48) Other comprehensive income (loss) 23 3 — 26 Taxes (5) 2 — (3) Reclassification from AOCI — (9) — (9) Balance at September 27, 2024 $ (21) $ 1 $ (14) $ (34) Reclassifications from unrecognized gain (loss) on derivative instruments are recorded in "Interest expense, net" in the condensed consolidated statements of operations.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 27, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 8–Earnings Per Share The following table provides a reconciliation of the weighted average number of shares outstanding used to compute basic and diluted EPS for the periods presented: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions) Basic weighted average number of shares outstanding 134 137 135 137 Dilutive common share equivalents—stock options and other stock awards (1) 2 — 1 — Diluted weighted average number of shares outstanding 136 137 136 137 (1) Dilutive common share equivalents for the three and nine months ended September 29, 2023, did not include the impact of 1 million potentially dilutive equity awards because the result would have been anti-dilutive due to the net losses. Anti-dilutive stock-based awards are excluded from the weighted average number of shares outstanding used to compute diluted EPS. The total outstanding stock options and vesting stock awards that were anti-dilutive were less than 0.5 million for both the three and nine months ended September 27, 2024, and 2 million for both the three and nine months ended September 29, 2023.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 9–Income Taxes For the three months ended September 27, 2024, the effective tax rate was 23.0% compared to (2.1)% for the three months ended September 29, 2023. The increase to the effective tax rate was primarily due to the tax impacts from non-deductible goodwill impairments for the three months ended September 29, 2023, and an increase in unrecognized tax benefits for the three months ended September 27, 2024. For the nine months ended September 27, 2024, the effective tax rate was 23.3% compared to 123.7% for the nine months ended September 29, 2023. The decrease to the effective tax rate was primarily due to the tax impacts from non-deductible goodwill impairments for the nine months ended September 29, 2023, partially offset by a reduced benefit in federal research tax credits for the nine months ended September 27, 2024.

Business Segments

Business Segments	9 Months Ended
Business Segments	Sep. 27, 2024
Segment Reporting [Abstract]
Business Segments	Note 10–Business Segments Our operations and reportable segments are organized around the customers and markets we serve. We define our reportable segments based on the way the CODM, currently our Chief Executive Officer, manages operations for the purposes of allocating resources and assessing performance. Effective the first day of fiscal 2024, we realigned our business to report into six operating segments, which are aggregated into four reportable segments in accordance with the criteria established under ASC 280: National Security & Digital, Health & Civil, Commercial & International and Defense Systems. Our reportable segments are focused on specific, defined capability sets that we bring to our customers. Additionally, we separately present the unallocable costs associated with corporate functions as Corporate. As a result of this change, prior year segment results have been recast to reflect the current reportable segment structure. National Security & Digital provides technology enabled services and mission software capabilities for defense and intelligence customers in the areas of cyber, logistics, security operations and decision analytics, as well as IT operations and digital transformation programs across all U.S. federal government customers. Our advanced capabilities include the delivery of technology-enabled services, mission software capabilities and IT modernization services. Our capabilities allow us to provide innovative technology solutions in the following categories: software development, engineering & design, modeling & simulation, analytics, cyber security, intelligence analysis, linguistics and mission operations. Health & Civil provides services and solutions to federal and commercial customers in the areas of public health, care coordination, life and environmental sciences and transportation. We are dedicated to delivering effective and affordable solutions that are responsible for the health and well-being of people, including service members and veterans. Our core capabilities include health information management services, managed health services, systems and infrastructure modernization, and life sciences research and development. We help customers achieve their missions and take on the connected world with data-driven insights, improved efficiencies and technological advantages. Commercial & International provides technologically advanced services, solutions and products to commercial and international customers. Our key customers include United Kingdom and Australia government agencies, Transportation Security Administration, U.S. Customs and Border Protection, airports, and commercial utility providers. Our offerings include IT modernization, software solutions, mission support and logistics, Command, Control, Computers, Communications, Intelligence, Surveillance and Reconnaissance ("C4ISR") technologies and services, cloud services, power grid engineering, energy modernization and security products and services. Defense Systems develops and produces advanced space, aerial, surface, and sub-surface manned and un-manned defense systems for the U.S. Department of Defense, Army, Navy, Air Force, Marine Corps, United States Special Operations Command, NASA, Space Force, the Defense Intelligence Agency and International customers. Our solutions deliver innovative technology, systems engineering, integration and testing, rapid prototyping, software development, intelligence analysis, cybersecurity solutions and C4ISR technologies and services to support critical missions. Corporate includes the operations of various corporate activities, certain corporate expense items that are not reimbursed by our U.S. government customers and certain other expense items excluded from a reportable segment's performance. The segment information for the periods presented was as follows: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions) Revenues: National Security & Digital $ 1,865 $ 1,852 $ 5,471 $ 5,400 Health & Civil 1,225 1,055 3,687 3,097 Commercial & International 578 552 1,648 1,588 Defense Systems 522 462 1,491 1,373 Total revenues $ 4,190 $ 3,921 $ 12,297 $ 11,458 Operating income (loss): National Security & Digital $ 187 $ 170 $ 545 $ 487 Health & Civil 287 165 816 412 Commercial & International 41 (646) 64 (599) Defense Systems 37 3 92 47 Corporate (36) (28) (111) (87) Total operating income (loss) $ 516 $ (336) $ 1,406 $ 260 The income statement performance measures used to evaluate segment performance are revenues and operating income (loss). As a result, "Interest expense, net," "Other income (expense), net" and "Income tax expense" as reported in the condensed consolidated statements of operations are not allocated to our segments. Under U.S. Government Cost Accounting Standards, indirect costs including depreciation expense are collected in indirect cost pools, which are then collectively allocated to the reportable segments based on a representative causal or beneficial relationship of the costs in the pool to the costs in the base. As such, depreciation expense is not separately disclosed on the condensed consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11–Commitments and Contingencies Legal Proceedings We are involved in various claims and lawsuits arising in the normal conduct of our business, none of which, in the opinion of management, based upon current information, will likely have a material adverse effect on our financial position, results of operations or cash flows. Contingencies Government Investigations and Reviews We are routinely subject to investigations and reviews relating to compliance with various laws and regulations with respect to our role as a contractor to federal, state and local government customers and in connection with performing services in countries outside of the United States. Adverse findings could have a material effect on our business, financial position, results of operations and cash flows due to our reliance on government contracts. Defense Contract Audit Agency As of September 27, 2024, active indirect cost audits by the Defense Contract Audit Agency remain open for fiscal 2022 and subsequent fiscal years. Although we have recorded contract revenues based upon an estimate of costs that we believe will be approved upon final audit or review, we cannot predict the outcome of any ongoing or future audits or reviews and adjustments, and if future adjustments exceed estimates, our profitability may be adversely affected. As of September 27, 2024, we believe we have adequately reserved for potential adjustments from audits or reviews of contract costs. Other Government Investigations and Reviews Through its internal processes, the Company discovered, in late 2021, activities by its employees, third party representatives and subcontractors, raising concerns related to a portion of our business that conducts international operations. The Company is conducting an internal investigation, overseen by an independent committee of the Board of Directors, with the assistance of external legal counsel, to determine whether the identified conduct may have violated the Company’s Code of Conduct and potentially applicable laws, including the U.S. Foreign Corrupt Practices Act ("FCPA"). The Company has voluntarily self-reported this investigation to the Department of Justice and the Securities and Exchange Commission and is cooperating with both agencies. Because the investigation is ongoing, the Company cannot anticipate the timing, outcome or possible impact of the investigation, although violations of the FCPA and other applicable laws may result in criminal and civil sanctions, including monetary penalties, and reputational damage. In September 2022, the Company received a Federal Grand Jury Subpoena related to the criminal investigation by the U.S. Attorney’s Office for the Southern District of California, in conjunction with the U.S. Department of Justice’s Fraud Division. The subpoena requests documents relating to the conduct that is the subject of the Company’s internal investigation. The Company has responded to the subpoena. In February 2023, a former employee of the Company who was terminated at the outset of the investigation was indicted on wire fraud and other charges by a Federal Grand Jury in the U.S. District Court in the Southern District of California. These charges were later dismissed as a result of the death of the former employee. In August 2022, the Company received a Federal Grand Jury Subpoena in connection with a criminal investigation being conducted by the U.S. Department of Justice Antitrust Division. The subpoena requests that the Company produce a broad range of documents related to three U.S. Government procurements associated with the Company’s Intelligence Group in 2021 and 2022. We are fully cooperating with the investigation, and we are conducting our own internal investigation with the assistance of outside counsel. It is not possible at this time to determine whether we will incur, or to reasonably estimate the amount of, any fines, penalties, or further liabilities in connection with the investigation pursuant to which the subpoena was issued. Commitments As of September 27, 2024, we have outstanding letters of credit of $67 million, principally related to performance guarantees on contracts and outstanding surety bonds with a notional amount of $103 million, principally related to performance and subcontractor payment bonds on contracts. The value of the surety bonds may vary due to changes in the underlying project status and/or contractual modifications. As of September 27, 2024, the future expirations of the outstanding letters of credit and surety bonds were as follows: Fiscal year ending (in millions) 2024 (remainder of year) $ 38 2025 96 2026 4 2027 14 2028 15 2029 and thereafter 3 $ 170

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 364	$ (399)	$ 970	$ (30)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Consolidation	We have a controlling interest in Mission Support Alliance, LLC ("MSA"), a joint venture with Centerra Group, LLC. We also have a controlling interest in Hanford Mission Integration Solutions, LLC ("HMIS"), the legal entity for the follow-on contract to MSA's contract and a joint venture with Centerra Group, LLC and Parsons Government Services, Inc. The financial results for MSA and HMIS are consolidated into our unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements also include the balances of all voting interest entities in which Leidos has a controlling voting interest ("subsidiaries") and a variable interest entity ("VIE") in which Leidos is the primary beneficiary. The consolidated balances of the VIE are not material to the unaudited condensed consolidated financial statements for the periods presented. Intercompany accounts and transactions between consolidated companies have been eliminated in consolidation.
Basis of Accounting	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules of the U.S. Securities and Exchange Commission and accounting principles generally accepted in the United States of America ("GAAP"). Certain disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules.
Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. Management evaluates these estimates and assumptions on an ongoing basis, including those relating to estimated profitability of long-term contracts, indirect billing rates, allowances for doubtful accounts, inventories, right-of-use assets and lease liabilities, fair value and impairment of intangible assets and goodwill, income taxes, stock-based compensation expense and contingencies. These estimates have been prepared by management on the basis of the most current and best available information; however, actual results could differ materially from those estimates. Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. We combined "Deferred tax liabilities" into "Other long-term liabilities" on the condensed consolidated balance sheets.
Accounting Standards Updates Issued But Not Yet Adopted	Accounting Standards Updates Issued But Not Yet Adopted ASU 2023-07 Segment Reporting In November 2023, the FASB issued ASU 2023-07, to improve reportable segment disclosure requirements. This update requires companies to disclose significant segment expense categories that are regularly provided to the chief operating decision maker ("CODM") on an interim and annual basis and expands disclosure requirements for interim reporting. Companies must also disclose how segment measures of profit or loss are used by the CODM. The amendments in this update are effective for public entities for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments should be adopted on a retrospective basis and early adoption is permitted. We will adopt these amendments for annual disclosures in fiscal 2024 and interim disclosures in fiscal 2025. ASU 2023-09 Income Taxes In December 2023, the FASB issued ASU 2023-09, to enhance the transparency and usefulness of income tax disclosures. The update requires enhancements to the annual rate reconciliation, including disclosure of specific categories and additional information for reconciling items meeting a quantitative threshold. The update also requires disclosure of income taxes paid disaggregated by federal, state and foreign taxes, and individual jurisdictions meeting a quantitative threshold.
Changes in Estimates on Contracts	Changes in Estimates on Contracts The impact on diluted earnings per share ("EPS") attributable to Leidos common stockholders is calculated using the statutory tax rate.
Cash and Cash Equivalents	Cash and Cash Equivalents
Restricted Cash	Restricted Cash

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Schedule of Changes in Estimates on Contracts	Changes in estimates on contracts were as follows: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions, except per share data) Favorable impact $ 58 $ 40 $ 125 $ 102 Unfavorable impact (28) (24) (107) (62) Net impact to income before income taxes $ 30 $ 16 $ 18 $ 40 Impact on diluted EPS attributable to Leidos common stockholders $ 0.17 $ 0.09 $ 0.10 $ 0.22

Revenues (Tables)

Revenues (Tables)	9 Months Ended
Revenues (Tables)	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	Disaggregated revenues by customer-type were as follows: Three Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 1,281 $ 243 $ 15 $ 475 $ 2,014 Other U.S. government agencies (1) 540 964 114 18 1,636 Commercial and non-U.S. customers 26 16 448 29 519 Total $ 1,847 $ 1,223 $ 577 $ 522 $ 4,169 Three Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 1,235 $ 257 $ 11 $ 444 $ 1,947 Other U.S. government agencies (1) 570 776 91 31 1,468 Commercial and non-U.S. customers 33 16 446 (13) 482 Total $ 1,838 $ 1,049 $ 548 $ 462 $ 3,897 (1) Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies. Nine Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 3,749 $ 755 $ 29 $ 1,341 $ 5,874 Other U.S. government agencies (1) 1,585 2,867 268 64 4,784 Commercial and non-U.S. customers 87 48 1,348 86 1,569 Total $ 5,421 $ 3,670 $ 1,645 $ 1,491 $ 12,227 Nine Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) DoD and U.S. Intelligence Community $ 3,582 $ 797 $ 26 $ 1,219 $ 5,624 Other U.S. government agencies (1) 1,682 2,230 236 91 4,239 Commercial and non-U.S. customers 99 45 1,319 63 1,526 Total $ 5,363 $ 3,072 $ 1,581 $ 1,373 $ 11,389 (1) Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies. Disaggregated revenues by contract-type were as follows: Three Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 980 $ 433 $ 94 $ 326 $ 1,833 Firm-fixed-price 511 737 378 155 1,781 Time-and-materials and fixed-price-level-of-effort 356 53 105 41 555 Total $ 1,847 $ 1,223 $ 577 $ 522 $ 4,169 Three Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 993 $ 467 $ 89 $ 301 $ 1,850 Firm-fixed-price 509 537 367 134 1,547 Time-and-materials and fixed-price-level-of-effort 336 45 92 27 500 Total $ 1,838 $ 1,049 $ 548 $ 462 $ 3,897 Nine Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 2,874 $ 1,331 $ 269 $ 940 $ 5,414 Firm-fixed-price 1,497 2,176 1,049 437 5,159 Time-and-materials and fixed-price-level-of-effort 1,050 163 327 114 1,654 Total $ 5,421 $ 3,670 $ 1,645 $ 1,491 $ 12,227 Nine Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Cost-reimbursement and fixed-price-incentive-fee $ 2,876 $ 1,542 $ 263 $ 840 $ 5,521 Firm-fixed-price 1,513 1,394 1,005 425 4,337 Time-and-materials and fixed-price-level-of-effort 974 136 313 108 1,531 Total $ 5,363 $ 3,072 $ 1,581 $ 1,373 $ 11,389 Disaggregated revenues by geographic location were as follows: Three Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 1,840 $ 1,222 $ 257 $ 511 $ 3,830 International 7 1 320 11 339 Total $ 1,847 $ 1,223 $ 577 $ 522 $ 4,169 Three Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 1,831 $ 1,047 $ 221 $ 458 $ 3,557 International 7 2 327 4 340 Total $ 1,838 $ 1,049 $ 548 $ 462 $ 3,897 Nine Months Ended September 27, 2024 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 5,398 $ 3,666 $ 692 $ 1,458 $ 11,214 International 23 4 953 33 1,013 Total $ 5,421 $ 3,670 $ 1,645 $ 1,491 $ 12,227 Nine Months Ended September 29, 2023 National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) United States $ 5,336 $ 3,069 $ 630 $ 1,362 $ 10,397 International 27 3 951 11 992 Total $ 5,363 $ 3,072 $ 1,581 $ 1,373 $ 11,389
Schedule of Components of Contract Assets and Contract Liabilities	The components of contract assets and contract liabilities consisted of the following: Balance sheet line item September 27, December 29, (in millions) Contract assets - current: Unbilled receivables Receivables, net $ 1,137 $ 1,041 Contract liabilities - current: Deferred revenue (1) Accounts payable and accrued liabilities $ 353 $ 442 Contract liabilities - non-current: Deferred revenue (1) Other long-term liabilities $ 13 $ 21 (1) Certain contracts record revenue net of cost of revenues, and therefore, the respective deferred revenue balance will not fully convert to revenue.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill by Reportable Segment	The following table presents changes in the carrying amount of goodwill by reportable segment: National Security & Digital Health & Civil Commercial & International Defense Systems Total (in millions) Goodwill at December 30, 2022 $ 2,755 $ 1,366 $ 1,389 $ 1,186 $ 6,696 Goodwill impairment — — (596) — (596) Acquisitions of a business (1) — — (4) — (4) Foreign currency translation adjustments 3 — 11 2 16 Goodwill at December 29, 2023 (2) $ 2,758 $ 1,366 $ 800 $ 1,188 $ 6,112 Foreign currency translation adjustments — — 11 — 11 Goodwill at September 27, 2024 (2) $ 2,758 $ 1,366 $ 811 $ 1,188 $ 6,123 (1) Adjustment to goodwill resulting from a measurement period purchase accounting adjustment. (2) Carrying amount includes accumulated impairment loss of $596 million within the Commercial & International segment.
Schedule of Intangible Assets	Intangible assets, net consisted of the following: September 27, 2024 December 29, 2023 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value (in millions) Finite-lived intangible assets: Programs $ 1,689 $ (1,264) $ 425 $ 1,689 $ (1,175) $ 514 Software and technology 264 (161) 103 263 (144) 119 Customer relationships 53 (27) 26 52 (22) 30 Total finite-lived intangible assets 2,006 (1,452) 554 2,004 (1,341) 663 Indefinite-lived intangible assets: Trade names 4 — 4 4 — 4 Total intangible assets $ 2,010 $ (1,452) $ 558 $ 2,008 $ (1,341) $ 667
Schedule of Estimated Annual Amortization Expense	The estimated annual amortization expense as of September 27, 2024, was as follows: Fiscal year ending (in millions) 2024 (remainder of year) $ 37 2025 120 2026 99 2027 73 2028 62 2029 and thereafter 163 $ 554

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 27, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured on a Recurring Basis	The financial instruments measured at fair value on a recurring basis primarily consisted of the following: September 27, 2024 December 29, 2023 Carrying value Fair value Carrying value Fair value (in millions) Financial assets: Derivatives $ 4 $ 4 $ 11 $ 11

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
Derivative Instruments (Tables)	Sep. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of the Company's Interest Rate Swaps	The fair value of the interest rate swaps was as follows: Asset derivatives Balance sheet line item September 27, December 29, (in millions) Cash flow interest rate swaps Other current assets (1) $ 4 $ 11 (1) As of December 29, 2023, the cash flow interest rate swaps were reported in the "other long-term assets" on the condensed consolidated balance sheet.
Schedule of Effect of the Company's Cash Flow Hedges on Other Comprehensive Income and Earnings	The effect of the cash flow hedges on other comprehensive (loss) income and earnings for the periods presented was as follows: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions) Total interest expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded $ 46 $ 53 $ 146 $ 163 Amount recognized in other comprehensive income (loss) $ (4) $ 3 $ 3 $ 11 Amount reclassified from accumulated other comprehensive loss to interest expense, net $ (3) $ (3) $ (9) $ (12)

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 27, 2024
Debt Disclosure [Abstract]
Schedule of Company's Debt	Our debt consisted of the following: Stated interest rate Effective interest rate September 27, December 29, (in millions) Senior unsecured term loan: $1,000 million term loan, due March 2028 6.46% 6.64% $ 1,000 $ 1,000 Senior unsecured notes: $500 million notes, due May 2025 3.63% 3.76% 500 500 $750 million notes, due May 2030 4.38% 4.50% 750 750 $1,000 million notes, due February 2031 2.30% 2.38% 1,000 1,000 $250 million notes, due July 2032 7.13% 7.43% 250 250 $750 million notes, due March 2033 5.75% 5.81% 750 750 $300 million notes, due July 2033 5.50% 5.88% 161 161 $300 million notes, due December 2040 5.95% 6.03% 218 218 Finance leases due on various dates through fiscal 2032 Various 1.84%-6.31% 78 91 Less: unamortized debt discounts and deferred debt issuance costs (34) (38) Total long-term debt 4,673 4,682 Less current portion (592) (18) Total long-term debt, net of current portion $ 4,081 $ 4,664

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 27, 2024
Equity [Abstract]
Schedule of Changes in the Components of Accumulated Other Comprehensive Income (Loss)	Changes in the components of Accumulated Other Comprehensive Income (Loss) ("AOCI") were as follows: Foreign currency translation adjustments Unrecognized gain (loss) on derivative instruments Pension adjustments Total AOCI (in millions) Balance at December 30, 2022 $ (73) $ 13 $ (13) $ (73) Other comprehensive income (loss) 36 6 (1) 41 Taxes (2) 1 — (1) Reclassification from AOCI — (15) — (15) Balance at December 29, 2023 (39) 5 (14) (48) Other comprehensive income (loss) 23 3 — 26 Taxes (5) 2 — (3) Reclassification from AOCI — (9) — (9) Balance at September 27, 2024 $ (21) $ 1 $ (14) $ (34)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 27, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of the Weighted Average Number of Shares Outstanding Used to Compute Basic and Diluted EPS	The following table provides a reconciliation of the weighted average number of shares outstanding used to compute basic and diluted EPS for the periods presented: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions) Basic weighted average number of shares outstanding 134 137 135 137 Dilutive common share equivalents—stock options and other stock awards (1) 2 — 1 — Diluted weighted average number of shares outstanding 136 137 136 137 (1) Dilutive common share equivalents for the three and nine months ended September 29, 2023, did not include the impact of 1 million potentially dilutive equity awards because the result would have been anti-dilutive due to the net losses.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	Sep. 27, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	The segment information for the periods presented was as follows: Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, (in millions) Revenues: National Security & Digital $ 1,865 $ 1,852 $ 5,471 $ 5,400 Health & Civil 1,225 1,055 3,687 3,097 Commercial & International 578 552 1,648 1,588 Defense Systems 522 462 1,491 1,373 Total revenues $ 4,190 $ 3,921 $ 12,297 $ 11,458 Operating income (loss): National Security & Digital $ 187 $ 170 $ 545 $ 487 Health & Civil 287 165 816 412 Commercial & International 41 (646) 64 (599) Defense Systems 37 3 92 47 Corporate (36) (28) (111) (87) Total operating income (loss) $ 516 $ (336) $ 1,406 $ 260

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guaranteed Obligation, Fiscal Year Maturity	As of September 27, 2024, the future expirations of the outstanding letters of credit and surety bonds were as follows: Fiscal year ending (in millions) 2024 (remainder of year) $ 38 2025 96 2026 4 2027 14 2028 15 2029 and thereafter 3 $ 170

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) employee in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024 USD ($) employee	Sep. 29, 2023 USD ($)	Sep. 27, 2024 USD ($) employee segment	Sep. 29, 2023 USD ($)	Dec. 29, 2023 USD ($)
Significant Accounting Policies [Line Items]
Number of employees in global workforce \| employee	48		48
Number of reportable segments \| segment			4
Decrease in income before income taxes from changes in contract estimates	$ 28	$ 24	$ 107	$ 62
Revenue recognized for performance obligation satisfied in the previous periods	78	$ 13	12	$ 14
Accounts payable and accrued liabilities	2,287		2,287		$ 2,277
Restricted cash balances	141		141		151
Cash and Cash Equivalents
Significant Accounting Policies [Line Items]
Accounts payable and accrued liabilities	$ 91		91		$ 136
UNITED KINGDOM
Significant Accounting Policies [Line Items]
Decrease in income before income taxes from changes in contract estimates			$ (41)
Leidos, Inc.
Significant Accounting Policies [Line Items]
Controlling ownership interest (as percent)	100%		100%

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies (Changes in Estimates on Contracts) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Accounting Policies [Abstract]
Favorable impact	$ 58	$ 40	$ 125	$ 102
Unfavorable impact	(28)	(24)	(107)	(62)
Net impact to income before income taxes	$ 30	$ 16	$ 18	$ 40
Impact on diluted EPS attributable to Leidos common stockholders (in dollars per share)	$ 0.17	$ 0.09	$ 0.10	$ 0.22

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenues (Narrative) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligations, which are expected to be recognized as revenue	$ 16,000		$ 16,000
Revenue recognized under ASC 842	21	$ 24	70	$ 69
Contract liability revenue recognized	$ 45	$ 28	$ 256	$ 215
Performance period one \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-28
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligations, which are expected to be recognized as revenue (as percent)	66%		66%
Remaining performance obligations, which are expected to be recognized as revenue, period (in months)	12 months		12 months
Performance period two \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-28
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligations, which are expected to be recognized as revenue (as percent)	82%		82%
Remaining performance obligations, which are expected to be recognized as revenue, period (in months)	24 months		24 months

Revenues (Disaggregation of Rev

Revenues (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 4,169	$ 3,897	$ 12,227	$ 11,389
United States
Disaggregation of Revenue [Line Items]
Revenues	3,830	3,557	11,214	10,397
International
Disaggregation of Revenue [Line Items]
Revenues	339	340	1,013	992
Cost-reimbursement and fixed-price-incentive-fee
Disaggregation of Revenue [Line Items]
Revenues	1,833	1,850	5,414	5,521
Firm-fixed-price
Disaggregation of Revenue [Line Items]
Revenues	1,781	1,547	5,159	4,337
Time-and-materials and fixed-price-level-of-effort
Disaggregation of Revenue [Line Items]
Revenues	555	500	1,654	1,531
National Security & Digital
Disaggregation of Revenue [Line Items]
Revenues	1,847	1,838	5,421	5,363
National Security & Digital \| United States
Disaggregation of Revenue [Line Items]
Revenues	1,840	1,831	5,398	5,336
National Security & Digital \| International
Disaggregation of Revenue [Line Items]
Revenues	7	7	23	27
National Security & Digital \| Cost-reimbursement and fixed-price-incentive-fee
Disaggregation of Revenue [Line Items]
Revenues	980	993	2,874	2,876
National Security & Digital \| Firm-fixed-price
Disaggregation of Revenue [Line Items]
Revenues	511	509	1,497	1,513
National Security & Digital \| Time-and-materials and fixed-price-level-of-effort
Disaggregation of Revenue [Line Items]
Revenues	356	336	1,050	974
Health & Civil
Disaggregation of Revenue [Line Items]
Revenues	1,223	1,049	3,670	3,072
Health & Civil \| United States
Disaggregation of Revenue [Line Items]
Revenues	1,222	1,047	3,666	3,069
Health & Civil \| International
Disaggregation of Revenue [Line Items]
Revenues	1	2	4	3
Health & Civil \| Cost-reimbursement and fixed-price-incentive-fee
Disaggregation of Revenue [Line Items]
Revenues	433	467	1,331	1,542
Health & Civil \| Firm-fixed-price
Disaggregation of Revenue [Line Items]
Revenues	737	537	2,176	1,394
Health & Civil \| Time-and-materials and fixed-price-level-of-effort
Disaggregation of Revenue [Line Items]
Revenues	53	45	163	136
Commercial & International
Disaggregation of Revenue [Line Items]
Revenues	577	548	1,645	1,581
Commercial & International \| United States
Disaggregation of Revenue [Line Items]
Revenues	257	221	692	630
Commercial & International \| International
Disaggregation of Revenue [Line Items]
Revenues	320	327	953	951
Commercial & International \| Cost-reimbursement and fixed-price-incentive-fee
Disaggregation of Revenue [Line Items]
Revenues	94	89	269	263
Commercial & International \| Firm-fixed-price
Disaggregation of Revenue [Line Items]
Revenues	378	367	1,049	1,005
Commercial & International \| Time-and-materials and fixed-price-level-of-effort
Disaggregation of Revenue [Line Items]
Revenues	105	92	327	313
Defense Systems
Disaggregation of Revenue [Line Items]
Revenues	522	462	1,491	1,373
Defense Systems \| United States
Disaggregation of Revenue [Line Items]
Revenues	511	458	1,458	1,362
Defense Systems \| International
Disaggregation of Revenue [Line Items]
Revenues	11	4	33	11
Defense Systems \| Cost-reimbursement and fixed-price-incentive-fee
Disaggregation of Revenue [Line Items]
Revenues	326	301	940	840
Defense Systems \| Firm-fixed-price
Disaggregation of Revenue [Line Items]
Revenues	155	134	437	425
Defense Systems \| Time-and-materials and fixed-price-level-of-effort
Disaggregation of Revenue [Line Items]
Revenues	41	27	114	108
DoD and U.S. Intelligence Community
Disaggregation of Revenue [Line Items]
Revenues	2,014	1,947	5,874	5,624
DoD and U.S. Intelligence Community \| National Security & Digital
Disaggregation of Revenue [Line Items]
Revenues	1,281	1,235	3,749	3,582
DoD and U.S. Intelligence Community \| Health & Civil
Disaggregation of Revenue [Line Items]
Revenues	243	257	755	797
DoD and U.S. Intelligence Community \| Commercial & International
Disaggregation of Revenue [Line Items]
Revenues	15	11	29	26
DoD and U.S. Intelligence Community \| Defense Systems
Disaggregation of Revenue [Line Items]
Revenues	475	444	1,341	1,219
Other U.S. government agencies
Disaggregation of Revenue [Line Items]
Revenues	1,636	1,468	4,784	4,239
Other U.S. government agencies \| National Security & Digital
Disaggregation of Revenue [Line Items]
Revenues	540	570	1,585	1,682
Other U.S. government agencies \| Health & Civil
Disaggregation of Revenue [Line Items]
Revenues	964	776	2,867	2,230
Other U.S. government agencies \| Commercial & International
Disaggregation of Revenue [Line Items]
Revenues	114	91	268	236
Other U.S. government agencies \| Defense Systems
Disaggregation of Revenue [Line Items]
Revenues	18	31	64	91
Commercial and non-U.S. customers
Disaggregation of Revenue [Line Items]
Revenues	519	482	1,569	1,526
Commercial and non-U.S. customers \| National Security & Digital
Disaggregation of Revenue [Line Items]
Revenues	26	33	87	99
Commercial and non-U.S. customers \| Health & Civil
Disaggregation of Revenue [Line Items]
Revenues	16	16	48	45
Commercial and non-U.S. customers \| Commercial & International
Disaggregation of Revenue [Line Items]
Revenues	448	446	1,348	1,319
Commercial and non-U.S. customers \| Defense Systems
Disaggregation of Revenue [Line Items]
Revenues	$ 29	$ (13)	$ 86	$ 63

Revenues (Contract Asset and Li

Revenues (Contract Asset and Liabilities) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Revenue from Contract with Customer [Abstract]
Contract assets - current:	$ 1,137	$ 1,041
Contract liabilities - current:	353	442
Contract liabilities - non-current:	$ 13	$ 21

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Changes in Goodwill by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 29, 2023
Goodwill [Roll Forward]
Beginning balance, goodwill			$ 6,112	$ 6,696	$ 6,696
Goodwill impairment	$ 0	$ (599)	0	(599)	(596)
Acquisitions of a business					(4)
Foreign currency translation adjustments			11		16
Ending balance, goodwill	6,123		6,123		6,112
National Security & Digital
Goodwill [Roll Forward]
Beginning balance, goodwill			2,758	2,755	2,755
Goodwill impairment					0
Acquisitions of a business					0
Foreign currency translation adjustments			0		3
Ending balance, goodwill	2,758		2,758		2,758
Health & Civil
Goodwill [Roll Forward]
Beginning balance, goodwill			1,366	1,366	1,366
Goodwill impairment					0
Acquisitions of a business					0
Foreign currency translation adjustments			0		0
Ending balance, goodwill	1,366		1,366		1,366
Commercial & International
Goodwill [Roll Forward]
Beginning balance, goodwill			800	1,389	1,389
Goodwill impairment					(596)
Acquisitions of a business					(4)
Foreign currency translation adjustments			11		11
Ending balance, goodwill	811		811		800
Accumulated goodwill impairment losses					596
Defense Systems
Goodwill [Roll Forward]
Beginning balance, goodwill			1,188	$ 1,186	1,186
Goodwill impairment					0
Acquisitions of a business					0
Foreign currency translation adjustments			0		2
Ending balance, goodwill	$ 1,188		$ 1,188		$ 1,188

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 29, 2023
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment charges	$ 0	$ 599	$ 0	$ 599	$ 596
Amortization of intangible assets	$ 37	50	$ 110	153
Commercial & International
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairment charges					596
Security Enterprise Solutions \| Commercial & International
Indefinite-lived Intangible Assets [Line Items]
Non-cash goodwill impairment charges					$ 596
Intangible asset impairment charges		$ 79		$ 79

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	$ 2,006	$ 2,004
Finite-lived intangible assets, accumulated amortization	(1,452)	(1,341)
Finite-lived intangible assets, net carrying value	554	663
Total intangible assets, gross carrying value	2,010	2,008
Total intangible assets, net carrying value	558	667
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	4	4
Programs
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	1,689	1,689
Finite-lived intangible assets, accumulated amortization	(1,264)	(1,175)
Finite-lived intangible assets, net carrying value	425	514
Software and technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	264	263
Finite-lived intangible assets, accumulated amortization	(161)	(144)
Finite-lived intangible assets, net carrying value	103	119
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	53	52
Finite-lived intangible assets, accumulated amortization	(27)	(22)
Finite-lived intangible assets, net carrying value	$ 26	$ 30

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Estimated Annual Amortization Expense) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Estimated Annual Intangible Amortization Expense
2024 (remainder of year)	$ 37
2025	120
2026	99
2027	73
2028	62
2029 and thereafter	163
Finite-lived intangible assets, net carrying value	$ 554	$ 663

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Measured at Fair Value on Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 4	$ 11
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 4	$ 11

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt instrument	$ 4,600	$ 4,600
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt instrument	4,700	4,700
Interest rate swaps \| Designated as hedging instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Hedged instrument, face amount	$ 500	$ 500

Derivative Instruments (Interes

Derivative Instruments (Interest Rate Swaps) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Other current assets \| Interest rate swaps \| Cash flow hedging
Derivative [Line Items]
Asset derivatives	$ 4	$ 11

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Derivative [Line Items]
Gains expected to be reclassified in the next 12 months	$ 3
Interest rate swaps \| Designated as hedging instrument
Derivative [Line Items]
Hedged instrument, face amount	$ 500	$ 500
Interest rate swap, maturing August 2025 \| Designated as hedging instrument \| Unsecured debt
Derivative [Line Items]
Stated interest rate (as percent)	2.96%

Derivative Instruments (Effect

Derivative Instruments (Effect of Cash Flow Hedge) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Derivatives, Fair Value [Line Items]
Total interest expense, net presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded	$ 46	$ 53	$ 146	$ 163
Amount recognized in other comprehensive income (loss)	(4)	3	3	11
Interest expense
Derivatives, Fair Value [Line Items]
Amount reclassified from accumulated other comprehensive loss to interest expense, net	$ (3)	$ (3)	$ (9)	$ (12)

Debt (Schedule of Company's Deb

Debt (Schedule of Company's Debt) (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 29, 2023
Debt Instrument [Line Items]
Less: unamortized debt discounts and deferred debt issuance costs	$ (34)	$ (38)
Total long-term debt	4,673	4,682
Less current portion	(592)	(18)
Total long-term debt, net of current portion	4,081	4,664
$1,000 million term loan, due March 2028 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,000
Stated interest rate	6.46%
Effective interest rate	6.64%
Senior unsecured debt	$ 1,000	1,000
$500 million notes, due May 2025 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500
Stated interest rate	3.63%
Effective interest rate	3.76%
Senior unsecured debt	$ 500	500
$750 million notes, due May 2030 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 750
Stated interest rate	4.38%
Effective interest rate	4.50%
Senior unsecured debt	$ 750	750
$1,000 million notes, due February 2031 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,000
Stated interest rate	2.30%
Effective interest rate	2.38%
Senior unsecured debt	$ 1,000	1,000
$250 million notes, due July 2032 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 250
Stated interest rate	7.13%
Effective interest rate	7.43%
Senior unsecured debt	$ 250	250
$750 million notes, due March 2033 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 750
Stated interest rate	5.75%
Effective interest rate	5.81%
Senior unsecured debt	$ 750	750
$300 million notes, due July 2033 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300
Stated interest rate	5.50%
Effective interest rate	5.88%
Senior unsecured debt	$ 161	161
$300 million notes, due December 2040 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300
Stated interest rate	5.95%
Effective interest rate	6.03%
Senior unsecured debt	$ 218	218
Finance leases due on various dates through fiscal 2032 \| Unsecured debt
Debt Instrument [Line Items]
Senior unsecured debt	$ 78	$ 91
Finance leases due on various dates through fiscal 2032 \| Unsecured debt \| Minimum
Debt Instrument [Line Items]
Effective interest rate	1.84%
Finance leases due on various dates through fiscal 2032 \| Unsecured debt \| Maximum
Debt Instrument [Line Items]
Effective interest rate	6.31%

Debt (Narrative) (Details)

Debt (Narrative) (Details)		9 Months Ended	12 Months Ended
Debt (Narrative) (Details)	Mar. 10, 2023 USD ($) extension	Sep. 27, 2024 USD ($)	Dec. 29, 2023 USD ($)	Sep. 29, 2023
Debt Instrument [Line Items]
Commercial paper outstanding		$ 0	$ 0
Commercial Paper
Debt Instrument [Line Items]
Commercial paper		1,000,000,000
Minimum denominations of commercial paper		$ 250,000
Debt instrument term (in days)		397 days
The Credit Agreement
Debt Instrument [Line Items]
Number of additional extensions \| extension	2
Debt instrument, extension term (in years)	1 year
Variable rate (as percent)	1.25%
Covenant, adjusted consolidated total debt to consolidated EBITDA ratio		3.75
Covenant, leverage ratio, maximum, potential increase following material acquisition		4.50
Covenant, consolidated EBITDA to interest expense ratio		3.50
The Credit Agreement \| Minimum
Debt Instrument [Line Items]
Variable rate (as percent)	1%
The Credit Agreement \| Maximum
Debt Instrument [Line Items]
Variable rate (as percent)	1.50%
Term loan \| Unsecured debt
Debt Instrument [Line Items]
Variable rate (as percent)	0.10%
Notes maturing March 2033 \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount			750,000,000
Debt interest rate (as percent)				5.75%
Amortization of debt discount and debt issuance costs			11,000,000
Term loan \| The Credit Agreement \| Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,000,000,000	$ 1,900,000,000
Revolving credit facility \| The Credit Agreement \| Line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000	750,000,000
Commitment fee (in percentage)	0.125%
Long-term line of credit		$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in the Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 27, 2024	Dec. 29, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 4,258	$ 4,353
Other comprehensive income (loss)	26	41
Taxes	(3)	(1)
Reclassification from AOCI	(9)	(15)
Ending balance	4,667	4,258
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(48)	(73)
Ending balance	(34)	(48)
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(39)	(73)
Other comprehensive income (loss)	23	36
Taxes	(5)	(2)
Reclassification from AOCI	0	0
Ending balance	(21)	(39)
Unrecognized gain (loss) on derivative instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	5	13
Other comprehensive income (loss)	3	6
Taxes	2	1
Reclassification from AOCI	(9)	(15)
Ending balance	1	5
Pension adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(14)	(13)
Other comprehensive income (loss)	0	(1)
Taxes	0	0
Reclassification from AOCI	0	0
Ending balance	$ (14)	$ (14)

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation of Weighted Average Number of Shares Outstanding) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic weighted average number of shares outstanding (in shares)	134	137	135	137
Dilutive common share equivalents-stock options and other stock awards (in shares)	2	0	1	0
Diluted weighted average number of shares outstanding (in shares)	136	137	136	137
Anti-dilutive shares (in shares)	0.5	2	0.5	2
Equity Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)		1		1

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Earnings Per Share [Abstract]
Anti-dilutive shares (in shares)	0.5	2	0.5	2
Payments for repurchase of common stock	$ 200,000,000	$ 0	$ 450,000,000	$ 25,000,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Effective tax rate (as percent)	23%	(2.10%)	23.30%	123.70%

Business Segments (Narrative) (

Business Segments (Narrative) (Details)	9 Months Ended
Business Segments (Narrative) (Details)	Sep. 27, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	6
Number of reportable segments	4

Business Segments (Segment Repo

Business Segments (Segment Reporting Information by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 4,190	$ 3,921	$ 12,297	$ 11,458
Total operating income (loss)	516	(336)	1,406	260
Corporate
Segment Reporting Information [Line Items]
Total operating income (loss)	(36)	(28)	(111)	(87)
National Security & Digital \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,865	1,852	5,471	5,400
Total operating income (loss)	187	170	545	487
Health & Civil \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,225	1,055	3,687	3,097
Total operating income (loss)	287	165	816	412
Commercial & International \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues	578	552	1,648	1,588
Total operating income (loss)	41	(646)	64	(599)
Defense Systems \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues	522	462	1,491	1,373
Total operating income (loss)	$ 37	$ 3	$ 92	$ 47

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) $ in Millions	Sep. 27, 2024 USD ($)	Aug. 31, 2022 governmentProcurement
Legal Proceedings [Line Items]
Number of government procurements \| governmentProcurement		3
Standby letters of credit
Legal Proceedings [Line Items]
Amount outstanding	$ 67
Performance guarantee
Legal Proceedings [Line Items]
Surety bonds notional amount	$ 103

Commitments and Contingencies_3

Commitments and Contingencies (Future Expirations Maturity Table) (Details) - Standby Letters of Credit and Surety Bonds $ in Millions	Sep. 27, 2024 USD ($)
Guaranteed Obligation, Type [Line Items]
2024 (remainder of year)	$ 38
2025	96
2026	4
2027	14
2028	15
2029 and thereafter	3
Total	$ 170