|
Third Quarter |
|||||||||||||||||
|
2024 |
|
|
2023 |
|
|||||||||||||
(In millions) |
Earnings
|
|
Tax
(Benefit) |
|
Effective
|
|
Earnings
|
|
Tax
|
|
Effective
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Income before income taxes |
$ |
430 |
|
$ |
26 |
|
|
6.0 |
% |
|
$ |
400 |
|
$ |
18 |
|
4.5 |
% |
Amortization of acquisition-related intangibles and additional cost of revenue related to the fair value step-up in inventory sold1 |
|
210 |
|
|
52 |
|
|
|
|
|
208 |
|
|
53 |
|
|
||
Merger, acquisition, and divestiture-related expenses1 |
|
25 |
|
|
5 |
|
|
|
|
|
56 |
|
|
8 |
|
|
||
Business divestiture-related losses, net and impairment of goodwill and other assets1 |
|
29 |
|
|
(6 |
) |
|
|
|
|
— |
|
|
3 |
|
|
||
| LHX NeXt implementation costs 1 |
|
41 |
|
|
18 |
|
|
|
|
|
33 |
|
|
8 |
|
|
||
| Non-GAAP income before income taxes |
$ |
735 |
|
$ |
95 |
|
|
12.9 |
% |
|
$ |
697 |
|
$ |
90 |
|
12.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
Year to Date |
|||||||||||||||||
|
|
2024 |
|
|
2023 |
|
|||||||||||||
| (In millions) |
Earnings
|
|
Tax
(Benefit) |
|
Effective
|
|
Earnings
|
|
Tax
|
|
Effective
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
| Income before income taxes |
$ |
1,110 |
|
$ |
54 |
|
|
4.9 |
% |
|
$ |
1,145 |
|
$ |
73 |
|
6.4 |
% |
| Amortization of acquisition-related intangibles and additional cost of revenue related to the fair value step-up in inventory sold 1 |
|
642 |
|
|
159 |
|
|
|
|
|
576 |
|
|
137 |
|
|
||
| Merger, acquisition, and divestiture-related expenses 1 |
|
86 |
|
|
16 |
|
|
|
|
|
144 |
|
|
26 |
|
|
||
| Business divestiture-related losses, net and impairment of goodwill and other assets 1 |
|
67 |
|
|
(8 |
) |
|
|
|
|
52 |
|
|
9 |
|
|
||
| LHX NeXt implementation costs 1 |
|
216 |
|
|
54 |
|
|
|
|
|
68 |
|
|
17 |
|
|
||
| Non-GAAP income before income taxes |
$ |
2,121 |
|
$ |
275 |
|
|
13.0 |
% |
|
$ |
1,985 |
|
$ |
262 |
|
13.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
| 1 Refer to Key Terms and Non-GAAP Definitions on page 17. |
||||||||||||||||||
|
L3Harris Technologies Reports Strong Third Quarter 2024 Results, Increases 2024 Guidance
Table 6 - Effective Tax Rate on Non-GAAP Income (unaudited)
|
|
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|
|
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|
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