L3HARRIS TECHNOLOGIES, INC. (LHX) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-12-30 to 2025-01-03

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L3HARRIS TECHNOLOGIES, INC. cash flow reconciliation, Dec 30, 2023 through Jan 3, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $1,512,000,000.00Depreciation and Amortization → Operating adjustments reconciliation: $1,289,000,000.00Share-based matching contributions under defined contribution plans → Operating adjustments reconciliation: $264,000,000.00Deferred income taxes → Operating adjustments reconciliation: $174,000,000.00Other current liabilities → Operating adjustments reconciliation: $155,000,000.00Receivables, net → Operating adjustments reconciliation: $128,000,000.00Contract liabilities → Operating adjustments reconciliation: $126,000,000.00Share-based compensation → Operating adjustments reconciliation: $97,000,000.00Inventories, net → Operating adjustments reconciliation: $96,000,000.00Impairment of goodwill and other assets → Operating adjustments reconciliation: $38,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,047,000,000.00Operating adjustments reconciliation → Income taxes: $383,000,000.00Operating adjustments reconciliation → Net periodic benefit income: $286,000,000.00Operating adjustments reconciliation → Other operating activities: $210,000,000.00Operating adjustments reconciliation → Contract assets: $194,000,000.00Operating adjustments reconciliation → Compensation and benefits: $128,000,000.00Operating adjustments reconciliation → Accounts payable: $90,000,000.00Operating adjustments reconciliation → Other current assets: $29,000,000.00Proceeds from sales of businesses → investing reconciliation: $273,000,000.00Proceeds from sale of property, plant and equipment, net → investing reconciliation: $1,000,000.00investing reconciliation → Capital expenditures: $408,000,000.00investing reconciliation → Other investing activities: $129,000,000.00Net cash used in financing activities → financing reconciliation: $2,224,000,000.00Proceeds from issuances of long-term debt, net → financing reconciliation: $2,827,000,000.00Proceeds from commercial paper, maturities over 90 days → financing reconciliation: $688,000,000.00Proceeds from exercises of employee stock options → financing reconciliation: $133,000,000.00financing reconciliation → Repayments of long-term debt: $2,620,000,000.00financing reconciliation → Repayments of commercial paper, maturities over 90 days: $1,205,000,000.00financing reconciliation → Dividends paid: $886,000,000.00financing reconciliation → Change in commercial paper, maturities under 90 days, net: $567,000,000.00financing reconciliation → Repurchases of common stock: $554,000,000.00financing reconciliation → Other financing activities: $40,000,000.00Net cash used in investing activities → investing reconciliation: $263,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $560,000,000.00Net cash from operating activities → Cash sources and uses: $2,559,000,000.00Cash sources and uses → Exchange-rate effect: $17,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $615,000,000.00Cash sources and uses → Net cash used in investing activities: $263,000,000.00Cash sources and uses → Net cash used in financing activities: $2,224,000,000.00Receivables, net: $128,000,000.00Accounts receivable+$128.00 MShare-based compensation: $97,000,000.00Stock-based compensation+$97.00 MCompensation and benefits: -$128,000,000.00Accrued compensation−$128.00 MImpairment of goodwill and other assets: $38,000,000.00Other asset impairments+$38.00 MContract liabilities: $126,000,000.00Deferred revenue+$126.00 MShare-based matching contributions under defined contribution plans: $264,000,000.00Share-based matching contributions under definedcontribution plans+$264.00 MInventories, net: $96,000,000.00Inventories+$96.00 MDeferred income taxes: $174,000,000.00Deferred tax balances+$174.00 MIncome taxes: -$383,000,000.00Income tax balances−$383.00 MOther current assets: -$29,000,000.00Prepaid & other assets−$29.00 MNet periodic benefit income: -$286,000,000.00Pension & benefit plans, net−$286.00 MOther operating activities: -$210,000,000.00Other working capital, net−$210.00 MDepreciation and Amortization: $1,289,000,000.00Depreciation & amortization+$1.29 BNet income: $1,512,000,000.00Net income+$1.51 BContract assets: -$194,000,000.00Contract assets−$194.00 MAccounts payable: -$90,000,000.00Accounts payable−$90.00 MOther current liabilities: $155,000,000.00Other current liabilities+$155.00 MNet cash from operating activities: $2,559,000,000.00Operating cash+$2.56 BOperating adjustments reconciliation: $2,367,000,000.00Repurchases of common stock: -$554,000,000.00Common stock repurchases−$554.00 MProceeds from issuances of long-term debt, net: $2,827,000,000.00Debt issued, net of costs+$2.83 BChange in commercial paper, maturities under 90 days, net: -$567,000,000.00Short-term debt ≤3 months, net−$567.00 MRepayments of long-term debt: -$2,620,000,000.00Unsecured debt repaid−$2.62 BProceeds from exercises of employee stock options: $133,000,000.00Stock option exercises+$133.00 MOther financing activities: -$40,000,000.00Other financing, net−$40.00 MRepayments of commercial paper, maturities over 90 days: -$1,205,000,000.00Short-term debt repaid, 90+ days−$1.21 BProceeds from commercial paper, maturities over 90 days: $688,000,000.00Short-term debt issued, 90+ days+$688.00 MDividends paid: -$886,000,000.00Common dividends paid−$886.00 MNet cash used in financing activities: -$2,224,000,000.00. Cash required to fund net payments.Financing cash−$2.22 Bfinancing reconciliation: $5,872,000,000.00Capital expenditures: -$408,000,000.00PP&E purchases−$408.00 MProceeds from sale of property, plant and equipment, net: $1,000,000.00PP&E sales+$1.00 MOther investing activities: -$129,000,000.00Other investing, net−$129.00 MNet cash paid for acquired businesses: $0.00Proceeds from sales of businesses: $273,000,000.00Business sales+$273.00 MNet cash used in investing activities: -$263,000,000.00. Cash required to fund net payments.Investing cash−$263.00 Minvesting reconciliation: $537,000,000.00Cash sources and uses: $3,119,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $560,000,000.00Beginning cash$560.00 MEnding cash: Cash, cash equivalents, and restricted cash: $615,000,000.00Ending cash$615.00 MExchange-rate effect: -$17,000,000.00FX effect−$17.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.15 BOperating cash − cash spent on PP&ECash flow / Net income1.69×Operating cash flow ÷ net incomeNet cash change+$55.00 MEnding cash − beginning cash
Chart details

L3HARRIS TECHNOLOGIES, INC. cash flow reconciliation, Dec 30, 2023 through Jan 3, 2025

Cash flows for Dec 30, 2023 through Jan 3, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 29, 2023. Ending cash: Jan 3, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 29, 2023
560,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,559,000,000 US dollars. Net cash provided.
Receivables, net
128,000,000 US dollars
Share-based compensation
97,000,000 US dollars
Compensation and benefits
negative 128,000,000 US dollars
Impairment of goodwill and other assets
38,000,000 US dollars
Contract liabilities
126,000,000 US dollars
Share-based matching contributions under defined contribution plans
264,000,000 US dollars
Inventories, net
96,000,000 US dollars
Deferred income taxes
174,000,000 US dollars
Income taxes
negative 383,000,000 US dollars
Other current assets
negative 29,000,000 US dollars
Net periodic benefit income
negative 286,000,000 US dollars
Other operating activities
negative 210,000,000 US dollars
Depreciation and Amortization
1,289,000,000 US dollars
Net income
1,512,000,000 US dollars
Contract assets
negative 194,000,000 US dollars
Accounts payable
negative 90,000,000 US dollars
Other current liabilities
155,000,000 US dollars
Investing activities
negative 263,000,000 US dollars. Net cash used.
Capital expenditures
negative 408,000,000 US dollars
Proceeds from sale of property, plant and equipment, net
1,000,000 US dollars
Other investing activities
negative 129,000,000 US dollars
Net cash paid for acquired businesses
0 US dollars
Proceeds from sales of businesses
273,000,000 US dollars
Financing activities
negative 2,224,000,000 US dollars. Net cash used.
Repurchases of common stock
negative 554,000,000 US dollars
Proceeds from issuances of long-term debt, net
2,827,000,000 US dollars
Change in commercial paper, maturities under 90 days, net
negative 567,000,000 US dollars
Repayments of long-term debt
negative 2,620,000,000 US dollars
Proceeds from exercises of employee stock options
133,000,000 US dollars
Other financing activities
negative 40,000,000 US dollars
Repayments of commercial paper, maturities over 90 days
negative 1,205,000,000 US dollars
Proceeds from commercial paper, maturities over 90 days
688,000,000 US dollars
Dividends paid
negative 886,000,000 US dollars
Operating adjustment reconciliation
2,367,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
5,872,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
537,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 17,000,000 US dollars
Ending cash on Jan 3, 2025
615,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
3,119,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
55,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.69×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
2,559,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
408,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,151,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.05B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,559,000,000 US dollars minus 408,000,000 US dollars equals 2,151,000,000 US dollars.
L3HARRIS TECHNOLOGIES, INC. (LHX) FY2024 Annual Statement of Cash Flows Sankey chart
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