L3Harris Technologies Reports Strong Third Quarter 2024 Results, Increases 2024 Guidance

Table 2 - Consolidated Statement of Cash Flow (Unaudited)

 

Third Quarter

 

Year to Date

(In millions)

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

 

 

 

 

 

 

 

 

Operating Activities

 

 

 

 

 

 

 

Net income

$

404

 

 

$

382

 

 

$

1,056

 

 

$

1,072

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

324

 

 

 

310

 

 

 

963

 

 

 

816

 

Share-based compensation

 

23

 

 

 

22

 

 

 

76

 

 

 

67

 

Pension and other postretirement benefit plan income

 

(72

)

 

 

(68

)

 

 

(215

)

 

 

(209

)

Share-based matching contributions under defined contribution plans

 

57

 

 

 

51

 

 

 

199

 

 

 

172

 

Deferred income taxes

 

467

 

 

 

(34

)

 

 

220

 

 

 

(277

)

(Increase) decrease in:

 

 

 

 

 

 

 

Receivables, net

 

188

 

 

 

158

 

 

 

163

 

 

 

53

 

Contract assets

 

(207

)

 

 

36

 

 

 

(372

)

 

 

(136

)

Inventories, net

 

40

 

 

 

(80

)

 

 

46

 

 

 

(195

)

Other current assets

 

(6

)

 

 

(15

)

 

 

(32

)

 

 

(87

)

Increase (decrease) in:

 

 

 

 

 

 

 

Accounts payable

 

155

 

 

 

(41

)

 

 

(45

)

 

 

(18

)

Contract liabilities

 

(12

)

 

 

(18

)

 

 

(150

)

 

 

202

 

Compensation and benefits

 

(44

)

 

 

(45

)

 

 

(145

)

 

 

(55

)

Other current liabilities

 

(26

)

 

 

(24

)

 

 

59

 

 

 

(27

)

Income taxes

 

(469

)

 

 

5

 

 

 

(258

)

 

 

15

 

Other operating activities

 

(42

)

 

 

(96

)

 

 

(135

)

 

 

(86

)

Net cash provided by operating activities

 

780

 

 

 

543

 

 

 

1,430

 

 

 

1,307

 

Investing Activities

 

 

 

 

 

 

 

Net cash paid for acquired businesses

 

 

 

 

(4,715

)

 

 

 

 

 

(6,688

)

Additions to property, plant and equipment

 

(78

)

 

 

(148

)

 

 

(290

)

 

 

(312

)

Proceeds from sales of businesses, net

 

 

 

 

 

 

 

158

 

 

 

71

 

Other investing activities

 

(15

)

 

 

(1

)

 

 

(19

)

 

 

(9

)

Net cash used in investing activities

 

(93

)

 

 

(4,864

)

 

 

(151

)

 

 

(6,938

)

Financing Activities

 

 

 

 

 

 

 

Proceeds from borrowings, net of issuance cost

 

585

 

 

 

5,319

 

 

 

2,826

 

 

 

7,568

 

Repayments of borrowings

 

(2

)

 

 

(2,099

)

 

 

(2,609

)

 

 

(3,159

)

Change in commercial paper, maturities under 90 days, net

 

(404

)

 

 

806

 

 

 

93

 

 

 

1,330

 

Proceeds from commercial paper, maturities over 90 days

 

 

 

 

646

 

 

 

688

 

 

 

701

 

Repayments of commercial paper, maturities over 90 days

 

(520

)

 

 

 

 

 

(1,205

)

 

 

 

Proceeds from exercises of employee stock options

 

48

 

 

 

5

 

 

 

111

 

 

 

18

 

Repurchases of common stock

 

(190

)

 

 

 

 

 

(512

)

 

 

(518

)

Dividends paid

 

(220

)

 

 

(216

)

 

 

(665

)

 

 

(652

)

Other financing activities

 

(6

)

 

 

(1

)

 

 

(36

)

 

 

(34

)

Net cash (used in) provided by financing activities

 

(709

)

 

 

4,460

 

 

 

(1,309

)

 

 

5,254

 

Effect of exchange rate changes on cash and cash equivalents

 

14

 

 

 

(6

)

 

 

9

 

 

 

(4

)

Net decrease in cash and cash equivalents

 

(8

)

 

 

133

 

 

 

(21

)

 

 

(381

)

Cash and cash equivalents, beginning of period

 

547

 

 

 

366

 

 

 

560

 

 

 

880

 

Cash and cash equivalents, end of period

$

539

 

 

$

499

 

 

$

539

 

 

$

499

 

 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16  Next Page »
Featured Video
Jobs
Business Development Manager for Berntsen International, Inc. at Madison, Wisconsin
Equipment Engineer, Raxium for Google at Fremont, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Mechanical Engineer 3 for Lam Research at Fremont, California



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise