L3HARRIS TECHNOLOGIES, INC. (LHX) FY2024 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-06-29 to 2024-09-27

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L3HARRIS TECHNOLOGIES, INC. cash flow reconciliation, Jun 29, 2024 through Sep 27, 2024One 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. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. 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: $404,000,000.00Deferred income taxes → Operating adjustments reconciliation: $467,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $324,000,000.00Receivables, net → Operating adjustments reconciliation: $188,000,000.00Accounts payable → Operating adjustments reconciliation: $155,000,000.00Share-based matching contributions under defined contribution plans → Operating adjustments reconciliation: $57,000,000.00Inventories, net → Operating adjustments reconciliation: $40,000,000.00Share-based compensation → Operating adjustments reconciliation: $23,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $376,000,000.00Operating adjustments reconciliation → Income taxes: $469,000,000.00Operating adjustments reconciliation → Contract assets: $207,000,000.00Operating adjustments reconciliation → Pension and other postretirement benefit plan income: $72,000,000.00Operating adjustments reconciliation → Compensation and benefits: $44,000,000.00Operating adjustments reconciliation → Other operating activities: $42,000,000.00Operating adjustments reconciliation → Remaining operating cash flows, net (calculated): $26,000,000.00Operating adjustments reconciliation → Contract liabilities: $12,000,000.00Operating adjustments reconciliation → Other current assets: $6,000,000.00investing reconciliation → Additions to property, plant and equipment: $78,000,000.00investing reconciliation → Other investing activities: $15,000,000.00Net cash used in financing activities → financing reconciliation: $709,000,000.00Proceeds from borrowings, net of issuance cost → financing reconciliation: $585,000,000.00Proceeds from exercises of employee stock options → financing reconciliation: $111,000,000.00financing reconciliation → Repayments of commercial paper, maturities over 90 days: $520,000,000.00financing reconciliation → Change in commercial paper, maturities under 90 days, net: $404,000,000.00financing reconciliation → Dividends paid: $220,000,000.00financing reconciliation → Repurchases of common stock: $190,000,000.00financing reconciliation → Other financing activities: $69,000,000.00financing reconciliation → Repayments of borrowings: $2,000,000.00Net cash used in investing activities → investing reconciliation: $93,000,000.00Exchange-rate effect → Cash sources and uses: $14,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $547,000,000.00Net cash from operating activities → Cash sources and uses: $780,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $539,000,000.00Cash sources and uses → Net cash used in investing activities: $93,000,000.00Cash sources and uses → Net cash used in financing activities: $709,000,000.00Accounts payable: $155,000,000.00Accounts payable+$155.00 MContract assets: -$207,000,000.00Contract assets−$207.00 MContract liabilities: -$12,000,000.00Deferred revenue−$12.00 MInventories, net: $40,000,000.00Inventories+$40.00 MShare-based compensation: $23,000,000.00Stock-based compensation+$23.00 MCompensation and benefits: -$44,000,000.00Accrued compensation−$44.00 MNet income: $404,000,000.00Net income+$404.00 MPension and other postretirement benefit plan income: -$72,000,000.00Pension & benefit plans, net−$72.00 MOther current assets: -$6,000,000.00Prepaid & other assets−$6.00 MOther operating activities: -$42,000,000.00Other working capital, net−$42.00 MDeferred income taxes: $467,000,000.00Deferred tax balances+$467.00 MReceivables, net: $188,000,000.00Accounts receivable+$188.00 MIncome taxes: -$469,000,000.00Income tax balances−$469.00 MDepreciation and amortization: $324,000,000.00Depreciation & amortization+$324.00 MShare-based matching contributions under defined contribution plans: $57,000,000.00Share-based matching contributions under definedcontribution plans+$57.00 MRemaining operating cash flows, net (calculated): -$26,000,000.00Remaining operating (calculated)−$26.00 MNet cash from operating activities: $780,000,000.00Operating cash+$780.00 MOperating adjustments reconciliation: $1,254,000,000.00Other financing activities: -$69,000,000.00Other financing, net−$69.00 MDividends paid: -$220,000,000.00Common dividends paid−$220.00 MChange in commercial paper, maturities under 90 days, net: -$404,000,000.00Short-term debt ≤3 months, net−$404.00 MRepayments of borrowings: -$2,000,000.00Unsecured debt repaid−$2.00 MRepayments of commercial paper, maturities over 90 days: -$520,000,000.00Short-term debt repaid, 90+ days−$520.00 MRepurchases of common stock: -$190,000,000.00Common stock repurchases−$190.00 MProceeds from commercial paper, maturities over 90 days: $0.00Proceeds from exercises of employee stock options: $111,000,000.00Stock option exercises+$111.00 MProceeds from borrowings, net of issuance cost: $585,000,000.00Debt issued, net of costs+$585.00 MNet cash used in financing activities: -$709,000,000.00. Cash required to fund net payments.Financing cash−$709.00 Mfinancing reconciliation: $1,405,000,000.00Other investing activities: -$15,000,000.00Other investing, net−$15.00 MAdditions to property, plant and equipment: -$78,000,000.00PP&E purchases−$78.00 MNet cash paid for acquired businesses: $0.00Proceeds from sales of businesses, net: $0.00Net cash used in investing activities: -$93,000,000.00. Cash required to fund net payments.Investing cash−$93.00 Minvesting reconciliation: $93,000,000.00Cash sources and uses: $1,341,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $547,000,000.00Beginning cash$547.00 MEnding cash: Cash, cash equivalents, and restricted cash: $539,000,000.00Ending cash$539.00 MExchange-rate effect: $14,000,000.00FX effect+$14.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$702.00 MOperating cash − cash spent on PP&ECash flow / Net income1.93×Operating cash flow ÷ net incomeNet cash change−$8.00 MEnding cash − beginning cash
Chart details

L3HARRIS TECHNOLOGIES, INC. cash flow reconciliation, Jun 29, 2024 through Sep 27, 2024

Cash flows for Jun 29, 2024 through Sep 27, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 28, 2024. Ending cash: Sep 27, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 28, 2024
547,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
780,000,000 US dollars. Net cash provided. The remaining amount is calculated by subtracting the other displayed items from the operating total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Other accrued items), so Other current liabilities cannot be separated for this quarter. It may combine inflows and outflows.
Accounts payable
155,000,000 US dollars
Contract assets
negative 207,000,000 US dollars
Contract liabilities
negative 12,000,000 US dollars
Inventories, net
40,000,000 US dollars
Share-based compensation
23,000,000 US dollars
Compensation and benefits
negative 44,000,000 US dollars
Net income
404,000,000 US dollars
Pension and other postretirement benefit plan income
negative 72,000,000 US dollars
Other current assets
negative 6,000,000 US dollars
Other operating activities
negative 42,000,000 US dollars
Deferred income taxes
467,000,000 US dollars
Receivables, net
188,000,000 US dollars
Income taxes
negative 469,000,000 US dollars
Depreciation and amortization
324,000,000 US dollars
Share-based matching contributions under defined contribution plans
57,000,000 US dollars
Remaining operating cash flows, net (calculated)
negative 26,000,000 US dollars
Investing activities
negative 93,000,000 US dollars. Net cash used.
Other investing activities
negative 15,000,000 US dollars
Additions to property, plant and equipment
negative 78,000,000 US dollars
Net cash paid for acquired businesses
0 US dollars
Proceeds from sales of businesses, net
0 US dollars
Financing activities
negative 709,000,000 US dollars. Net cash used.
Other financing activities
negative 69,000,000 US dollars
Dividends paid
negative 220,000,000 US dollars
Change in commercial paper, maturities under 90 days, net
negative 404,000,000 US dollars
Repayments of borrowings
negative 2,000,000 US dollars
Repayments of commercial paper, maturities over 90 days
negative 520,000,000 US dollars
Repurchases of common stock
negative 190,000,000 US dollars
Proceeds from commercial paper, maturities over 90 days
0 US dollars
Proceeds from exercises of employee stock options
111,000,000 US dollars
Proceeds from borrowings, net of issuance cost
585,000,000 US dollars
Operating adjustment reconciliation
1,254,000,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
financing gross reconciliation
1,405,000,000 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
93,000,000 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
14,000,000 US dollars
Ending cash on Sep 27, 2024
539,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,341,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 8,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.93×. 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
780,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
78,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
702,000,000 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 $376.00M 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: 780,000,000 US dollars minus 78,000,000 US dollars equals 702,000,000 US dollars.
L3HARRIS TECHNOLOGIES, INC. (LHX) FY2024 Q3 Statement of Cash Flows Sankey chart
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