Leidos Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2016 Results

 

 


LEIDOS HOLDINGS, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)












Three Months Ended


Twelve Months Ended



December 30,
2016


January 1,
2016


December 30,
2016


January 1,
2016

Cash flows from operations:









Net income


$

60



$

127



$

246



$

254


Income from discontinued operations








(18)


Adjustments to reconcile net income to net cash 
     provided by operations:









Depreciation and amortization


68



9



122



44


Stock-based compensation


10



8



35



31


Asset impairment charges


4





4



73


Gain on a real estate sale




(82)





(82)


Other


2







8


Change in assets and liabilities, net of effects of 
     acquisitions and dispositions:









Receivables


(17)



(70)



123



75


Inventory, prepaid expenses and other current 
     assets


23



8



(101)



(14)


Accounts payable and accrued liabilities


(61)



30



(25)



101


Accrued payroll and employee benefits


28





26



(26)


Deferred income taxes and income taxes
receivable/payable


55



32



36



12


Other long-term assets/ liabilities


(10)



(30)



(20)



(48)


Total cash flows provided by operating activities of 
     continuing operations


162



32



446



410


Cash flows from investing activities:









Payments for property, plant and equipment


(9)



(12)



(29)



(27)


Acquisitions of businesses




(2)



25



(2)


Payments on accrued purchase price related to prior 
     acquisition








(13)


Net proceeds from sale of assets




70



3



79


Proceeds from disposition of business






23



27


Proceeds from collections on promissory note






4




Other


1








Total cash flows (used in) provided by investing activities 
     of continuing operations


(8)



56



26



64


Cash flows from financing activities:









Payments of long-term debt


(175)



(13)



(277)



(62)


Proceeds from debt issuance






690




Payments for debt issuance costs






(30)




Payments on real estate financing transaction




(8)





(8)


Proceeds from issuances of stock




2



25



6


Repurchases of stock and other


(4)



(4)



(24)



(120)


Special cash dividend payment






(993)




Dividend payments


(48)



(46)



(142)



(117)


Other




2





5


Total cash flows used in financing activities of continuing 
     operations


(227)



(67)



(751)



(296)


(Decrease) increase in cash and cash equivalents from 
     continuing operations


(73)



21



(279)



178


Cash flows from discontinued operations:









Cash provided by operating activities of discontinued 
     operations








13


Cash (used in) provided by investing activities of 
     discontinued operations






(1)



6


(Decrease) increase in cash and cash equivalents from 
     discontinued operations






(1)



19


Total (decrease) increase in cash and cash equivalents


(73)



21



(280)



197


Cash and cash equivalents at beginning of year


449



635



656



459


Cash and cash equivalents at end of year


$

376



$

656



$

376



$

656



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