In Classified programs, order momentum remained strong, with funding received for an exquisite space system program award announced in the third quarter and for U.S. missile warning, missile defense and space surveillance missions under the SENSOR program.
In addition, extending a 20-year partnership with the National Geospatial-Intelligence Agency, Harris received three, 10-year, multi-award IDIQ contracts totaling $1.5 billion to create, manage and disseminate high-quality geospatial-intelligence information.
Full year segment revenue was up 1% as growth in Classified programs was partially offset by the expected headwind from environmental programs. Operating income increased 8% and operating margin expanded 110 basis points on productivity and higher pension income. Orders increased 6%, resulting in a book-to-bill of greater than 1.0.
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Cash and Capital Deployment |
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| ($ millions) | Fourth Quarter | Full Year | |||||||||||||||||||||||||||
| FY 2018 | FY 2017 | Change | FY 2018 | FY 2017 | Change | ||||||||||||||||||||||||
| Operating cash flow | $ | 521 | $ | 80 | $ | 441 | $ | 751 | $ | 569 | $ | 182 | |||||||||||||||||
| Adjusted operating cash flow* | $ | 521 | $ | 480 | $ | 41 | $ | 1,051 | $ | 969 | $ | 82 | |||||||||||||||||
| Adjusted free cash flow* | $ | 464 | $ | 440 | $ | 24 | $ | 915 | $ | 850 | $ | 65 | |||||||||||||||||
| *Reconciliations of GAAP to non-GAAP financial measures are provided in the attached tables. | |||||||||||||||||||||||||||||
