L3HARRIS TECHNOLOGIES, INC. /DE/, 10-Q filed on 4/30/2026
Quarterly Report
v3.26.1
COVER - shares
 3 Months Ended
Apr. 03, 2026
Apr. 24, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Apr. 03, 2026  
Document Transition Report false  
Entity File Number 1-3863  
Entity Registrant Name L3HARRIS TECHNOLOGIES, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 34-0276860  
Entity Address, Address Line One 1025 West NASA Boulevard  
Entity Address, City or Town Melbourne,  
Entity Address, State or Province FL  
Entity Address, Postal Zip Code 32919  
City Area Code 321  
Local Phone Number 727-9100  
Title of 12(b) Security Common Stock, par value $1.00 per share  
Trading Symbol LHX  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   186,294,951
Entity Central Index Key 0000202058  
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --01-01  
v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Income Statement [Abstract]    
Revenue $ 5,744 $ 5,132
Cost of revenue (4,342) (3,782)
General and administrative expenses (750) (825)
Operating income 652 525
Non-service FAS pension income and other, net [1] 73 84
Interest expense, net (136) (150)
Income before income taxes 589 459
Income taxes (77) (73)
Net income $ 512 $ 386
Earnings per share attributable to common shareholders    
Basic (in dollars per share) $ 2.74 $ 2.05
Diluted (in dollars per share) $ 2.72 $ 2.04
[1] “FAS” is defined as Financial Accounting Standards.
v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 512 $ 386
Other comprehensive loss, net of tax:    
Foreign currency translation and other, net (13) 30
Pension and other postretirement benefits (8) (71)
Other comprehensive loss (21) (41)
Comprehensive income $ 491 $ 345
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Current assets    
Cash and cash equivalents $ 590 $ 1,069
Receivables, net 1,912 1,371
Contract assets 3,530 3,566
Inventories, net 1,234 1,219
Other current assets 702 484
Assets of business held for sale 926 884
Total current assets 8,894 8,593
Non-current assets    
Property, plant and equipment, net 2,658 2,665
Goodwill 19,999 20,010
Intangible assets, net 6,331 6,509
Deferred income taxes 71 76
Other non-current assets 3,427 3,342
Total assets 41,380 41,195
Current liabilities    
Short-term debt 350 0
Current portion of long-term debt 1,816 673
Accounts payable 1,930 2,461
Contract liabilities 2,736 2,262
Compensation and benefits 391 482
Other current liabilities 1,267 1,235
Liabilities of business held for sale 111 113
Total current liabilities 8,601 7,226
Non-current liabilities    
Long-term debt, net 9,191 10,443
Deferred income taxes 1,225 1,114
Other non-current liabilities 2,683 2,777
Total liabilities 21,700 21,560
Shareholders’ Equity:    
Common stock 187 187
Paid-in capital 14,974 15,117
Retained earnings 4,421 4,212
Accumulated other comprehensive income 98 119
Total equity 19,680 19,635
Total liabilities and equity $ 41,380 $ 41,195
v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Operating Activities    
Net income $ 512 $ 386
Adjustments to reconcile to net cash used in operating activities:    
Depreciation and amortization 282 301
Share-based compensation 21 19
Net periodic benefit income (70) (84)
Share-based matching contributions under defined contribution plans 62 68
Deferred income taxes 119 (89)
(Increase) decrease in:    
Receivables, net (623) (447)
Contract assets 72 (420)
Inventories, net (17) 92
Other current assets (218) (19)
Increase (decrease) in:    
Accounts payable (527) 52
Contract liabilities 461 (16)
Compensation and benefits (87) (105)
Other current liabilities (15) 11
Income taxes (7) 273
Other operating activities (60) (64)
Net cash used in operating activities (95) (42)
Investing Activities    
Capital expenditures (99) (59)
Proceeds from disposal of property, plant and equipment, net 7 0
Proceeds from sales of businesses, net of cash divested 0 831
Other investing activities (5) (28)
Net cash (used in) provided by investing activities (97) 744
Financing Activities    
Repayments of long-term debt (106) (5)
Change in commercial paper, net 350 20
Repurchases of common stock (296) (569)
Dividends paid (238) (228)
Other financing activities 6 (23)
Net cash used in financing activities (284) (805)
Effect of exchange rate changes on cash and cash equivalents (3) 5
Net decrease in cash and cash equivalents (479) (98)
Cash and cash equivalents, beginning of period 1,069 615
Cash and cash equivalents, end of period $ 590 $ 517
v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - USD ($)
$ in Millions
Total
Common Stock
Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning balance at Jan. 03, 2025   $ 190 $ 15,558 $ 3,739 $ 27 $ 65
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Share-based compensation and other, net     69      
Repurchases and retirement of common stock $ (569) (2) (457) (110)    
Net income and other       386    
Cash dividends       (228)    
Other comprehensive loss, net of tax (41)       (41)  
Derecognized with divestiture           (63)
Other           (3)
Ending balance at Mar. 28, 2025 $ 19,130 188 15,170 3,787 (14) $ (1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Cash dividends (in dollars per share) $ 1.20          
Beginning balance at Jan. 02, 2026         119  
Beginning Balance at Jan. 02, 2026 $ 19,635 187 15,117 4,212 119  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Share-based compensation   1        
Share-based compensation and other, net     88      
Repurchases and retirement of common stock   (1) (231) (64)    
Net income and other       511    
Cash dividends       (238)    
Other comprehensive loss, net of tax (21)       (21)  
Ending Balance at Apr. 03, 2026 $ 19,680 $ 187 $ 14,974 $ 4,421 98  
Ending balance at Apr. 03, 2026         $ 98  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Cash dividends (in dollars per share) $ 1.25          
v3.26.1
BASIS OF PRESENTATION
 3 Months Ended
Apr. 03, 2026
Accounting Policies [Abstract]  
BASIS OF PRESENTATION
NOTE A: BASIS OF PRESENTATION
Principles of Consolidation
The accompanying Condensed Consolidated Financial Statements include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these notes to the Condensed Consolidated Financial Statements (these “Notes”), the terms “L3Harris,” “Company,” “we,” “our” and “us” refer to L3Harris Technologies, Inc. and its consolidated subsidiaries. Intercompany transactions and accounts have been eliminated.
The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, such interim financial statements do not include all information and footnotes necessary for a complete presentation of financial condition, results of operations, cash flows and equity in conformity with GAAP for annual financial statements and are not necessarily indicative of the results that may be expected for the full fiscal year or any subsequent period.
In the opinion of management, these interim financial statements reflect all adjustments (including normal recurring adjustments) considered necessary for a fair presentation of our financial condition, results of operations, cash flows and equity for the periods presented. The accompanying Condensed Consolidated Financial Statements should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended January 2, 2026 (our “Fiscal 2025 Form 10-K”). The accompanying Condensed Consolidated Balance Sheet as of January 2, 2026 has been derived from our audited financial statements in Fiscal 2025 Form 10-K.
Our fiscal year is based on a 52- or 53-week period ending on the Friday nearest December 31. The fiscal quarters ended April 3, 2026 (“first quarter 2026”) and March 28, 2025 (“first quarter 2025”) include thirteen and twelve weeks, respectively.
Segment Reorganization
Effective in fiscal 2026, we streamlined our operating segments, which are also our reportable segments or business segments, from four segments to three segments, more closely aligning common capabilities and business models. We report our financial results in the following three reportable segments, consistent with the manner in which our chief operating decision maker manages the business, evaluates performance, and allocates resources:
Space & Mission Systems (“SMS”): Integrates satellite and payload capabilities, including missile warning and defense, with maritime, air special missions, and other global defense and civil government programs;
Communication & Spectrum Dominance (“CSD”): Combines all of our capabilities in resilient communications and electronic warfare; and
Missile Solutions (“MSL”): Unites propulsion, sensing, guidance, and other advanced missile and munition technologies for delivery of end-to-end missile solutions.
See Note E: Goodwill and Intangible Assets and Note O: Business Segment Information in these Notes for further information.
The historical results, discussion and presentation of our business segments as set forth in the accompanying Condensed Consolidated Financial Statements and these Notes reflect the impact of these changes for all periods presented in order to present segment information on a comparable basis. There is no impact on our previously reported consolidated statements of operations, balance sheets, statements of cash flows or statements of equity resulting from these changes.
Use of Estimates
The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Condensed Consolidated Financial Statements and these Notes. Materially different results can occur as circumstances change and additional information becomes known.
Reclassifications
The classification of certain prior year amounts have been adjusted in our Condensed Consolidated Financial Statements and these Notes to conform to current year classifications.
Recently Issued Accounting Pronouncements
See Note 1: Significant Accounting Policies in our Fiscal 2025 Form 10-K for information on recently issued accounting pronouncements.
v3.26.1
EARNINGS PER SHARE ("EPS")
 3 Months Ended
Apr. 03, 2026
Earnings Per Share [Abstract]  
EARNINGS PER SHARE ("EPS")
NOTE B: EARNINGS PER SHARE (“EPS”)
EPS is calculated as net income attributable to common shareholders divided by our weighted-average number of basic or diluted common shares outstanding. Potential dilutive common shares primarily consist of employee stock options, restricted stock units (“RSUs”) and performance share units (“PSUs”).
The weighted-average number of shares outstanding used to compute basic and diluted EPS are as follows:
First Quarter
(In millions)20262025
Basic weighted-average common shares outstanding186.8 188.5 
Impact of dilutive share-based awards1.3 0.6 
Diluted weighted-average common shares outstanding188.1 189.1 
Anti-dilutive share-based awards excluded from diluted EPS were 0.1 million and 1.0 million for first quarter 2026 and 2025, respectively.
v3.26.1
CONTRACT ASSETS AND CONTRACT LIABILITIES
 3 Months Ended
Apr. 03, 2026
Revenue from Contract with Customer [Abstract]  
CONTRACT ASSETS AND CONTRACT LIABILITIES
NOTE C: CONTRACT ASSETS AND CONTRACT LIABILITIES
Contract assets represent unbilled receivables for revenue recognized in advance of billings, primarily under the percentage-of-completion (“POC”) cost-to-cost method. Contract liabilities consist of advance payments and billings in excess of revenue recognized. Contract assets and liabilities are reported net on a contract-by-contract basis.
Contract assets and contract liabilities are summarized below:
(In millions)April 3, 2026January 2, 2026
Contract assets
$3,530 $3,566 
Contract liabilities
(2,736)(2,262)
Contract liabilities, non-current(1)
(88)(108)
Net contract assets$706 $1,196 
_______________
(1)Included as a component of the “Other non-current liabilities” line item in our Condensed Consolidated Balance Sheet.

During first quarter 2026 and 2025, we recognized revenue of $861 million and $698 million, respectively, related to contract liabilities that were outstanding at the end of the respective prior fiscal year.
NOTE M: CONTRACTUAL BACKLOG
Contractual backlog, which is the equivalent of our remaining performance obligations, represents the future revenue we expect to recognize as we perform on our current contracts. Contractual backlog comprises both funded backlog (i.e., firm orders for which funding is authorized and appropriated) and unfunded backlog (i.e., orders for which funds have not been appropriated and/or incrementally funded). Contractual backlog excludes unexercised contract options and potential orders under ordering-type contracts, such as indefinite-delivery, indefinite-quantity contracts.
As of April 3, 2026, our contractual backlog was $40.7 billion. We expect to recognize approximately 40% of our contractual backlog as revenue over the next twelve months and 65% as revenue over the next twenty-four months, with the remainder to be recognized thereafter.
v3.26.1
INVENTORIES, NET
 3 Months Ended
Apr. 03, 2026
Inventory Disclosure [Abstract]  
INVENTORIES, NET
NOTE D: INVENTORIES, NET
Inventories, net are summarized below:
(In millions)April 3, 2026January 2, 2026
Materials and supplies$693 $685 
Work in process309 291 
Finished products
232 243 
Inventories, net
$1,234 $1,219 
v3.26.1
GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Apr. 03, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
NOTE E: GOODWILL AND INTANGIBLE ASSETS
Goodwill
Changes in the carrying amount of goodwill, by business segment, were as follows:
(In millions)SMSCSDMSLTotal
Balance as of January 2, 2026(1)
$9,005 $7,712 $3,293 $20,010 
Currency translation adjustments(5)(6)— (11)
Balance as of April 3, 2026
$9,000 $7,706 $3,293 $19,999 
_______________
(1)Balances reflect impact of segment reorganization, as discussed in Note A: Basis of Presentation in these Notes.

As of both April 3, 2026 and January 2, 2026, accumulated goodwill impairment losses were $120 million, $431 million, and $337 million in our SMS, CSD, and MSL segments, respectively.
Reallocation of Goodwill in Segment Reorganization. As discussed in Note A: Basis of Presentation in these Notes, effective in fiscal 2026, we streamlined our business segments from four segments to three segments, more closely aligning common capabilities and business models. As a result of the segment reorganization, we realigned our goodwill reporting units from seven to five reporting units, which are our operating segments or one level below the operating segment. Following the realignment, our reporting units are organized as follows: SMS in our SMS segment, Non-Spectrum and Spectrum in our CSD segment, Advanced Effects (“AE”) and Propulsion Systems (“PS”) in our MSL segment.
The revised reporting unit structure was established through the creation of the new AE reporting unit and reassignment of the three former Integrated Mission Systems (“IMS”) segment reporting units, Targeting & Sensor Systems and Defense Electronics (“TSS+DE”), Intelligence, Surveillance and Reconnaissance (“ISR”) and Maritime. The AE reporting unit was formed by combining two businesses from the former Space & Airborne Systems (“SAS”) reporting unit and two businesses from the former TSS+DE reporting unit. The remaining businesses from the former TSS+DE reporting unit were aggregated into the former Non-Broadband reporting unit, which was renamed the Non-Spectrum reporting unit; and two businesses from the former SAS reporting unit were aggregated with the former Broadband reporting unit, which was renamed the Spectrum reporting unit. The businesses from the ISR and Maritime reporting units were aggregated with the other businesses in the SMS reporting unit, formerly the SAS reporting unit.
In connection with the realignments, goodwill was allocated to the businesses that moved between reporting units on a relative fair value basis utilizing a combination of income and market approaches. We performed quantitative impairment assessments under our former and new reporting unit structure to assess the impact before and after realignments. These assessments indicated no impairments existed either before or after the realignments.
Intangible Assets
Intangible assets, net are summarized below:
April 3, 2026January 2, 2026
(In millions)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Customer relationships(1)
$8,325 $(4,185)$4,140 $8,329 $(4,031)$4,298 
Developed technologies(1)
848 (557)291 849 (544)305 
Trade names(1)
174 (77)97 175 (75)100 
Other4 (4)— 6 (3)3 
Total finite-lived intangible assets9,351 (4,823)4,528 9,359 (4,653)4,706 
Trade name(1)
1,803 — 1,803 1,803 — 1,803 
Intangible assets, net$11,154 $(4,823)$6,331 $11,162 $(4,653)$6,509 
_______________
(1)Includes acquisition-related intangibles that benefit the entire Company. As such, these assets and associated amortization are reported at Corporate.
Amortization expense for intangible assets was $174 million and $194 million for first quarter 2026 and 2025, respectively. Future estimated amortization expense for intangible assets is as follows:
(In millions)Remaining Fiscal 2026Fiscal 2027Fiscal 2028Fiscal 2029Fiscal 2030ThereafterTotal
Amortization expense$458 $531 $459 $403 $386 $2,291 $4,528 
v3.26.1
INCOME TAXES
 3 Months Ended
Apr. 03, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES
NOTE F: INCOME TAXES
Tax Legislation Update
The Organisation for Economic Cooperation and Development (“OECD”) established a 15% global minimum tax applicable to multinational companies, which has been adopted by a majority of countries in which we operate and may subject us to this tax. In January 2026, the OECD issued additional guidance that is expected to reduce the global minimum tax burden on U.S. based multinationals. We are actively monitoring the legislative adoption of this guidance in relevant jurisdictions and will continue to evaluate its applicability to our operations and refine our estimates of the effective tax rate and cash tax impacts as new legislation is enacted. There was no impact on our effective tax rate in first quarter 2026.
Effective Tax Rate (“ETR”)
ETR was as follows:
 First Quarter
(In millions)20262025
 
Income tax expense$(77)$(73)
ETR13.1 %15.9 %
ETR for both periods benefited from favorable impacts of research and development (“R&D”) credits and tax deductions for foreign derived intangible income (“FDII”). First quarter 2026 ETR decreased compared to first quarter 2025, primarily due to higher deductions associated with FDII benefits from exporting products and services, the favorable resolution of audit matters and favorable impact of excess tax benefits from share based-compensation, partially offset by unfavorable return-to-provision adjustments, while first quarter 2025 ETR included an unfavorable impact from the Commercial Aviations Solutions (“CAS disposal group”) divestiture.
v3.26.1
DEBT AND CREDIT ARRANGEMENTS
 3 Months Ended
Apr. 03, 2026
Debt Disclosure [Abstract]  
DEBT AND CREDIT ARRANGEMENTS
NOTE G: DEBT AND CREDIT ARRANGEMENTS
Long-Term Debt
Long-term debt is summarized below:
(In millions)April 3, 2026January 2, 2026
Fixed-rate debt(1)
$10,776 $10,876 
Finance lease obligations and other274 283 
Unamortized discounts and issuance costs, net of bond premium(43)(43)
Total long-term debt11,007 11,116 
Less: Current portion of long term debt(2)
1,816 673 
Long-term debt, net$9,191 $10,443 
_______________
(1)See Note 8: Debt and Credit Arrangements in our Fiscal 2025 Form 10-K for information on our fixed-rate debt.
(2)As of April 3, 2026, includes the $550 million 3.85% notes, due December 2026 (“3.85% 2026 Notes”) and $1,250 million 5.40% notes, due January 2027 (“5.40% 2027 Notes”). As of January 2, 2026, includes the $100 million 7.00% debentures, due January 2026 (“7.00% 2026 Debentures”) and $550 million 3.85% 2026 Notes.

Repayments. On January 14, 2026, we repaid the entire outstanding $100 million 7.00% 2026 Debentures with cash on hand.
Fair Value. As of April 3, 2026 and January 2, 2026, the estimated fair value of long-term debt was $11.0 billion and $11.2 billion, respectively. These values were estimated using a market approach based on quoted market prices for our debt in the secondary market and would be classified as Level 2 in the fair value hierarchy. See Note K: Fair Value Measurements in these Notes for further information on fair value.
Credit Agreements
Five-Year Credit Facility. On February 18, 2025, we established a $2.5 billion, five-year senior unsecured revolving credit facility (the “2025 Five-Year Credit Facility”) under a Revolving Credit Agreement (“2025 Five-Year Credit Agreement”) maturing on February 18, 2030 with a syndicate of lenders. For a description of the 2025 Five-Year Credit Agreement and related covenants, see Note 8: Debt and Credit Arrangements in our Fiscal 2025 Form 10-K.
As of April 3, 2026, we had no outstanding borrowings under the 2025 Five-Year Credit Agreement and had available borrowing capacity of $2.2 billion, net of outstanding borrowings under our commercial paper program, as discussed below, and were in compliance with all covenants under the 2025 Five-Year Credit Agreement.
364-Day Credit Facility. On February 18, 2025, we established a $500 million 364-day senior unsecured revolving credit facility (“2025 364-Day Credit Facility”) by entering into a 364-day Credit Agreement (“2025 364-Day Credit Agreement”) with a syndicate of lenders. The 2025 364-Day Credit Facility matured on February 17, 2026.
Commercial Paper Program (“CP Program”)
Under our CP Program, we may issue unsecured commercial paper notes up to a maximum aggregate amount, supported by the availability under our credit agreements. As of April 3, 2026, our CP Program had maximum aggregate capacity of $2.5 billion, supported by our 2025 Five-Year Credit Facility. As of January 2, 2026, our CP Program had maximum aggregate capacity of $3.0 billion, supported by our 2025 Five-Year Credit Facility and 2025 364-Day Credit Facility, which matured on February 17, 2026.
The commercial paper notes are sold at par less a discount representing an interest factor or, if interest bearing, at par, and the maturities vary but may not exceed 397 days from the date of issue. The commercial paper notes rank at least pari passu with all other unsecured and unsubordinated indebtedness.
As of April 3, 2026, we had $350 million in outstanding notes under our CP Program, which had a weighted-average interest rate of 4.15%. These outstanding notes are included in the “Short-term debt” line item in our Condensed Consolidated Balance Sheet. As of January 2, 2026, we had no outstanding notes under our CP Program.
v3.26.1
RETIREMENT BENEFITS
 3 Months Ended
Apr. 03, 2026
Retirement Benefits [Abstract]  
RETIREMENT BENEFITS
NOTE H: RETIREMENT BENEFITS
The components of net periodic benefit income for our defined benefit pension plans and other postretirement benefit plans (“other benefits”) (collectively, “defined benefit plans”) were as follows:
First Quarter
20262025
(In millions)
Pension
Other Benefits
Total
Pension
Other Benefits
Total
Operating
Service cost(1)
$5 $— $5 $6 $— $6 
Non-operating
Interest cost71 2 73 88 3 91 
Expected return on plan assets(133)(5)(138)(151)(5)(156)
Amortization of net actuarial gains(1)(3)(4)(1)(3)(4)
Amortization of prior service credits(6)— (6)(7)— (7)
Effect of settlements— — — (14)— (14)
Non-service cost net periodic benefit income(2)
(69)(6)(75)(85)(5)(90)
Net periodic benefit income$(64)$(6)$(70)$(79)$(5)$(84)
______________
(1)Included in the “Cost of revenue” and “General and administrative expenses” line items in our Condensed Consolidated Statement of Operations.
(2)Included in the “Non-service FAS pension income and other, net” line item in our Condensed Consolidated Statement of Operations.
v3.26.1
SHARE-BASED COMPENSATION
 3 Months Ended
Apr. 03, 2026
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION
NOTE I: SHARE-BASED COMPENSATION
As of April 3, 2026, we had stock options and other share-based compensation awards outstanding under our 2024 Equity Incentive Plan and predecessor plans (collectively, the “L3Harris SIPs”).
Awards granted to participants under the L3Harris SIPs and the weighted-average grant-date fair value per share or unit were as follows:
First Quarter
20262025
(In thousands, except per share/unit amounts)Shares or UnitsWeighted-Average Grant-Date Fair Value
Per Share or Unit		Shares or UnitsWeighted-Average Grant-Date Fair Value
Per Share or Unit
Stock options(1)
210 $92.06 388 $49.20 
RSUs (2)
68 $352.82 118 $206.88 
PSUs (3)
109 $421.37 185 $217.67 
_______________
(1)Other than certain stock options granted in connection with new hires, our stock options generally vest ratably in equal amounts over a three-year period.
(2)The majority of our RSUs, including those granted annually to executives under our long-term incentive plan, cliff vest after three years.
(3)Our PSUs are subject to performance criteria and generally vest after the three-year performance period.

The aggregate number of shares of our common stock issued under the L3Harris SIPs, net of shares withheld for tax purposes, was 0.4 million and 0.2 million for first quarter 2026 and 2025, respectively.
Share-based compensation expense was $21 million and $19 million for first quarter 2026 and 2025, respectively.
v3.26.1
SHAREHOLDERS' EQUITY
 3 Months Ended
Apr. 03, 2026
Equity [Abstract]  
SHAREHOLDERS' EQUITY
NOTE J: SHAREHOLDERS' EQUITY
Common Stock
Authorized common stock consists of 500,000,000 shares, with a $1 par value of per share, of which 186,601,408 shares and 186,844,093 shares were issued and outstanding as of April 3, 2026 and January 2, 2026, respectively.
Share Repurchase Program. On January 28, 2021 and October 21, 2022, we announced that our Board of Directors (“Board”) approved share repurchase authorizations under our repurchase program of $6.0 billion and $3.0 billion, respectively. The $6.0 billion program was fully utilized during the first quarter 2025. Our repurchase program does not have an expiration date and authorizes us to repurchase shares of our common stock through open market purchases, private transactions, transactions structured through investment banking institutions or any combination thereof.
During first quarter 2026, we repurchased 0.8 million shares of our common stock under our share repurchase program for $296 million and had remaining unused authorizations of $1.9 billion as of April 3, 2026. During first quarter 2025, we repurchased 2.7 million shares of our common stock under our share repurchase program for $569 million and had remaining unused authorizations of $2.8 billion as of March 28, 2025.
Preferred Stock
Authorized preferred stock consists of 1,000,000 shares, without par value, of which no shares were issued and outstanding as of both April 3, 2026 and January 2, 2026.         
Accumulated Other Comprehensive Income (Loss) (“AOCI”)
Changes in the components of AOCI, net of tax were as follows:
(In millions)
Foreign currency translation and other, net(1)
Pension and other postretirement benefits(2)
Total AOCI
Balance as of January 2, 2026
$(234)$353 $119 
Other comprehensive loss before reclassifications(15)— (15)
Losses (gains) reclassified to earnings
2 (8)(6)
Other comprehensive loss(13)(8)(21)
Balance as of April 3, 2026$(247)$345 $98 
Balance as of January 3, 2025$(331)$358 $27 
Other comprehensive income (loss) before reclassifications19 (43)(24)
Losses (gains) reclassified to earnings
11 (28)(17)
Other comprehensive income (loss)30 (71)(41)
Balance as of March 28, 2025
$(301)$287 $(14)
_______________
(1)Other, net consists of hedging derivatives.
(2)See Note H: Retirement Benefits in these Notes
v3.26.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Apr. 03, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE K: FAIR VALUE MEASUREMENTS
We measure certain assets and liabilities at fair value on a recurring basis utilizing a three-level fair value hierarchy that prioritizes inputs based on market observability:
•Level 1 — Quoted prices in active markets for identical assets or liabilities.
•Level 2 — Observable inputs other than quoted prices included within Level 1, including: quoted prices for similar assets or liabilities in active or inactive markets; quoted prices for identical assets or liabilities in inactive markets; and inputs derived from or corroborated by observable market data.
•Level 3 — Unobservable inputs with little or no market activity that are significant to the fair value of the assets or liabilities and reflect our assumptions about market participants’ pricing, using the best available information.
We utilize observable inputs whenever available. In certain instances, fair value is estimated using quoted market prices from external pricing services. We assess the methodologies of these services to ensure valuations reflect fair value, including net asset value (“NAV”). The NAV reported by an asset manager may be adjusted when sufficient evidence indicates NAV is not representative of fair value.
Deferred Compensation Plans
We sponsor certain non-qualified deferred compensation plans which are measured at fair value on a recurring basis in our Condensed Consolidated Balance Sheet. Deferred compensation plan assets represent diversified assets held in rabbi trusts, which include marketable equity and fixed income securities (Level 1) and corporate-owned life insurance (”COLI”) contracts measured at NAV. Liabilities represent participant balances in marketable equity securities (Level 1) and common/collective trusts (“CCTs”) and guaranteed investment contracts (“GICs”) measured at NAV based on participant designed investment options.
The following table summarizes our deferred compensation plan assets and liabilities:
April 3, 2026January 2, 2026
(In millions)TotalLevel 1TotalLevel 1
Assets
Equity and fixed income securities$246 $246 $255 $255 
COLI, measured at NAV38 38 
Deferred compensation plan assets(1)
$284 $293 
Liabilities
Equity securities$17 $17 $15 $15 
CCTs and GICs, measured at NAV
397 431 
Deferred compensation plan liabilities(2)
$414 $446 
_______________
(1)Included in the “Other current assets” and “Other non-current assets” line items in our Condensed Consolidated Balance Sheet.
(2)Included in the “Compensation and benefits” and “Other non-current liabilities” line items in our Condensed Consolidated Balance Sheet.
v3.26.1
CHANGES IN ESTIMATES
 3 Months Ended
Apr. 03, 2026
Change in Accounting Estimate [Abstract]  
CHANGES IN ESTIMATES
NOTE L: CHANGES IN ESTIMATES
Many of our contracts utilize the POC cost-to-cost method of revenue recognition. A single estimated profit margin is used to recognize profit for each performance obligation over its period of performance. At the outset of each contract, we gauge its complexity and perceived risks and establish an estimated total cost at completion in line with those expectations. Due to the long-term nature of many of these contracts, developing the estimated total cost at completion and total transaction price often requires judgment. After establishing the estimated total cost at completion, we follow a standard estimate at completion (“EAC”) process in which we review the progress and performance on our ongoing contracts. If we successfully retire risks associated with the technical, schedule and cost aspects of a contract, we may lower our estimated total cost at completion commensurate with the retirement of these risks. Conversely, there are many reasons estimated contract costs can increase, including: (i) supply chain disruptions, inflation and labor issues; (ii) design or other development challenges; and (iii) program execution challenges (including technical schedule or quality issues and other performance concerns). Additionally, as the contract progresses, our estimates of total transaction price may increase or decrease if, for example, we receive incentive or award fees that are higher or lower than expected.
The following table presents the effect of aggregate net EAC adjustments:
First Quarter
(In millions, except per share amounts)20262025
Revenue$86 $37 
Operating income18 (21)
Net income(1)
14 (16)
Diluted EPS0.07 (0.08)
_______________
(1)Based on a 25 percent federal and state statutory tax rate.
v3.26.1
CONTRACTUAL BACKLOG
 3 Months Ended
Apr. 03, 2026
Revenue from Contract with Customer [Abstract]  
CONTRACTUAL BACKLOG
NOTE C: CONTRACT ASSETS AND CONTRACT LIABILITIES
Contract assets represent unbilled receivables for revenue recognized in advance of billings, primarily under the percentage-of-completion (“POC”) cost-to-cost method. Contract liabilities consist of advance payments and billings in excess of revenue recognized. Contract assets and liabilities are reported net on a contract-by-contract basis.
Contract assets and contract liabilities are summarized below:
(In millions)April 3, 2026January 2, 2026
Contract assets
$3,530 $3,566 
Contract liabilities
(2,736)(2,262)
Contract liabilities, non-current(1)
(88)(108)
Net contract assets$706 $1,196 
_______________
(1)Included as a component of the “Other non-current liabilities” line item in our Condensed Consolidated Balance Sheet.

During first quarter 2026 and 2025, we recognized revenue of $861 million and $698 million, respectively, related to contract liabilities that were outstanding at the end of the respective prior fiscal year.
NOTE M: CONTRACTUAL BACKLOG
Contractual backlog, which is the equivalent of our remaining performance obligations, represents the future revenue we expect to recognize as we perform on our current contracts. Contractual backlog comprises both funded backlog (i.e., firm orders for which funding is authorized and appropriated) and unfunded backlog (i.e., orders for which funds have not been appropriated and/or incrementally funded). Contractual backlog excludes unexercised contract options and potential orders under ordering-type contracts, such as indefinite-delivery, indefinite-quantity contracts.
As of April 3, 2026, our contractual backlog was $40.7 billion. We expect to recognize approximately 40% of our contractual backlog as revenue over the next twelve months and 65% as revenue over the next twenty-four months, with the remainder to be recognized thereafter.
v3.26.1
DIVESTITURES
 3 Months Ended
Apr. 03, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
DIVESTITURES
NOTE N: DIVESTITURES
Space Technology Disposal Group
During fourth quarter 2025, we entered into an agreement with AE Industrial Partners (“AE Industrial”) to establish a new space technology company (“Space Technology disposal group”). Under the agreement we will contribute certain assets and liabilities of the Space Propulsion and Power Systems sector (“SPPS business”) and the Space Avionics & Communications division (“SA&C business”), both reported in our MSL segment, to a new entity in which we will retain approximately 40% noncontrolling interest. The Space Technology disposal group, which excludes our RS-25 rocket engine business, provides premier propulsion, power, space flight avionics and communications systems. AE Industrial will acquire a controlling interest of approximately 60% in the new space technology company, at a net enterprise value of $825 million, subject to regulatory approvals and other customary closing conditions. The transaction is expected to close in the second half of 2026.
Upon closing, we will derecognize the assets and liabilities of the Space Technology disposal group and record an equity method investment at the fair value of our retained noncontrolling interest in the newly formed entity. Our share of earnings or losses from the equity method investment will be recognized in the “Non-service FAS pension income and other, net” line item in our Condensed Consolidated Statement of Operations, with a corresponding adjustment to the carrying value of the investment included in the “Other non-current assets” line in our Condensed Consolidated Balance Sheet.
The carrying amounts of the assets and liabilities of the Space Technology disposal group classified as held for sale in our Condensed Consolidated Balance Sheet were as follows:
(In millions)April 3, 2026January 2, 2026
Receivables, net$108 $26 
Contract assets58 94 
Inventories, net10 8 
Other current assets10 11 
Property, plant and equipment, net120 115 
Goodwill285 285 
Intangible assets, net372 373 
Other non-current assets26 26 
Valuation allowance(63)(54)
Total assets held for sale$926 $884 
Accounts payable13 9 
Contract liabilities46 59 
Compensation and benefits11 7 
Other current liabilities21 19 
Other non-current liabilities20 19 
Total liabilities held for sale$111 $113 
Income before income taxes attributable to the Space Technology disposal group was $31 million and $14 million for first quarter 2026 and 2025, respectively.
In first quarter 2026, we recorded an additional valuation allowance due to an increase in the carrying value of the disposal group and recognized a pre-tax loss of $10 million, which is incremental to the previously recorded Space Technology disposal group loss recognized in fiscal 2025. The pre-tax loss is included in the “General and administrative expenses” line item in our Condensed Consolidated Statement of Operations.
CAS Disposal Group
On March 28, 2025, we completed the sale of our CAS disposal group, which provided integrated aircraft avionics, pilot training and data analytics services for the commercial aviation industry, for cash proceeds, net of cash divested, of $831 million as of first quarter 2025. The operating results of the CAS disposal group are reported in other non-reportable businesses, within Unallocated corporate items and other, net in Note O: Business Segment Information, through the date of sale. For additional information on the CAS disposal group, see Note 13: Acquisitions and Divestitures in our Fiscal 2025 Form 10-K.
v3.26.1
BUSINESS SEGMENT INFORMATION
 3 Months Ended
Apr. 03, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION
NOTE O: BUSINESS SEGMENT INFORMATION
Description of Business Segments
We structure our operations primarily around the capabilities we provide and report our financial results in the following three operating segments, which are also our reportable segments or business segments, consistent with the manner in which our chief operating decision maker manages the business, evaluates performance, and allocates resources:
SMS: Supplies full mission solutions as a prime and subsystem integrator in the space, airborne, maritime, and cyber domains. We provide top-tier capabilities in the design, development, integration, production and sustainment of weapons systems for national security, civil government and international customers in the following business sectors:
Intelligence, Surveillance and Reconnaissance (“ISR”): Airborne passive sensing and targeting, mission systems development, integration and life-cycle management for strategic reconnaissance and air superiority platforms, national command and control, tactical surveillance, electronic attack, agile strike, mobility, and classified platforms.
Space Systems: End-to-end mission solutions to support intelligence, surveillance and reconnaissance; missile defense; positioning, navigation and timing; weather and climate monitoring; and ground-based space surveillance networks.
Maritime: Power, electrical, imaging, communication and sensor systems for naval platforms; autonomous solutions for surface and undersea operations; high-assurance encryption; in-service support; missionization prototyping; and naval integration.
Mission Networks: Integrator of large-scale, highly secure, and resilient mission critical infrastructure and enterprise systems for communications, air traffic surveillance, and enterprise information management.
Airborne Solutions: Integrated and multi-function processors, memory, communication, displays, and other hardened electronics, for airborne and ground platforms.
Intel & Cyber: Situational awareness, optical networks and advanced wireless solutions for classified intelligence and defense customers.
CSD: Enables warfighters across all domains with solutions critical to mission success even in the most contested environments. We are a leading provider of resilient communication solutions for the DoW and international, federal, and state agency customers in the following business sectors:
Mission Critical Communications: Design, manufacture and sustainment of resilient and interoperable secure communication solutions that includes software defined radios, waveforms, satellite terminals and end-to-end battlefield systems for the warfighter and government agencies.
Spectrum Superiority: Design, manufacture and sustainment of resilient and secure communication solutions that include ISR and tactical data links, software and integrated broadband networks and electronic warfare.
Targeting & Sensor Systems (“TSS”): Multi-domain, multi-spectral electro-optical and infrared sensor systems supporting ISR and target acquisition missions; manufacturing of specialty laser transmitters and filter glass materials; and manufacturing of counter unmanned aircraft integrated systems, and specialized mission management software solutions.
Integrated Vision Solutions: Design, manufacture and sustainment of a full suite of helmet-mounted integrated night vision goggles with leading-edge image intensifier tubes, as well as weapon-mounted sights, aiming lasers, and range finders.
MSL: Provides a comprehensive portfolio of missile technologies spanning the full mission lifecycle, as well as critical space propulsion capabilities to the U.S. Government and its allies, including the DoW, NASA and major aerospace and defense prime contractors in the following business sectors:
Missile Solutions: Provides propulsion, maneuvering, and control technologies as well as fuzing systems that support missile defense interceptors, strategic deterrence systems, and precision strike weapons.
Advanced Effects: Provides advanced systems that improve missile performance, accuracy, and mission effectiveness across four capability areas including advanced sensing and targeting systems, guidance systems, weapons release systems, and complete weapons systems.
Space Propulsion and Power Systems (“SPPS”): Premier propulsion and power systems for national security, space and exploration missions.
Business Segment Financial Results
The following table presents operating results by business segment and a reconciliation to total income before income taxes:
 First Quarter
(In millions)20262025
 
Revenue
SMS$2,990 $2,411 
CSD1,855 1,809 
MSL990 840 
Intersegment(91)(74)
Segment revenue5,744 4,986 
Other(1)
— 146 
Total revenue5,744 5,132 
Cost of revenue
SMS(2,439)(1,948)
CSD(1,163)(1,157)
MSL(807)(656)
Intersegment91 
74 
Segment cost of revenue(4,318)(3,687)
Other(2)
(24)(95)
Total cost of revenue(4,342)(3,782)
Operating income
SMS313 238 
CSD465 443 
MSL124 96 
Segment operating income902 777 
Unallocated corporate items and other, net(250)
(252)
Total operating income652 525 
Non-service FAS pension income and other, net73 
84 
Interest expense, net(136)(150)
Income before income taxes$589 $459 
_______________
(1)Includes other non-reportable businesses, which consists of the CAS disposal group, corporate headquarters, and eliminations.
(2)Includes corporate headquarters. Additionally, first quarter 2025 includes other non-reportable businesses, which consists of the CAS disposal group.

Unallocated Corporate Items and Other, Net. Unallocated corporate items and other, net include expenses not included in management’s evaluation of segment operating performance, such as amortization of acquisition-related intangibles; acquisition, divestiture and transaction-related expenses; business divestiture-related losses; LHX NeXt implementation costs, and a portion of management and administration, legal, environmental, compensation and retiree benefits, and the FAS/Cost Accounting Standards (“CAS”) operating adjustment. Additionally, includes the operating results of other non-reportable businesses, which consists of the CAS disposal group, eliminations and other.
Assets
Total assets by business segment were as follows:
(In millions)April 3, 2026January 2, 2026
SMS$14,264 $13,736 
CSD10,932 10,862 
MSL6,748 6,605 
Corporate(1)
9,436 9,992 
Total assets$41,380 $41,195 
_______________
(1)Includes intangible assets acquired in connection with business combinations that benefit the entire Company. See the “Intangible Assets” section in Note E: Goodwill and Intangible Assets in these Notes for further information.
Other Financial Information
Other financial information by business segment is summarized below:
First Quarter
(In millions)20262025
Capital expenditures
SMS$29 $35 
CSD18 8 
MSL33 14 
Corporate19 2 
Total capital expenditures$99 $59 
Depreciation and amortization
SMS$42 $40 
CSD18 17 
MSL14 16 
Corporate208 228 
Total depreciation and amortization$282 $301 
Disaggregation of Revenue
We disaggregate revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
First Quarter
20262025
(In millions)SMSCSDMSLSMSCSDMSL
Other(1)
Revenue by customer relationship
Prime contractor$2,286 $1,192 $250 $1,725 $1,173 $222 $72 
Subcontractor681 606 729 660 607 600 73 
Intersegment23 57 11 26 29 18 1 
Total segment$2,990 $1,855 $990 $2,411 $1,809 $840 $146 
Revenue by contract type
Fixed-price
$1,910 $1,520 $643 $1,658 $1,493 $505 $145 
Cost-type1,057 278 336 727 287 317 — 
Intersegment23 57 11 26 29 18 1 
Total segment$2,990 $1,855 $990 $2,411 $1,809 $840 $146 
Revenue by geographical region
United States$2,540 $1,037 $874 $2,028 $1,091 $795 $61 
International427 761 105 357 689 27 84 
Intersegment23 57 11 26 29 18 1 
Total segment$2,990 $1,855 $990 $2,411 $1,809 $840 $146 
_______________
(1)Includes revenue associated with other non-reportable businesses, which consists of the CAS disposal group. These amounts are included to reconcile total revenue.
v3.26.1
LEGAL PROCEEDINGS AND CONTINGENCIES
 3 Months Ended
Apr. 03, 2026
Legal Proceedings And Contingencies [Abstract]  
LEGAL PROCEEDINGS AND CONTINGENCIES
NOTE P: LEGAL PROCEEDINGS AND CONTINGENCIES
In the ordinary course of business, we are routinely defendants in, parties to or otherwise subject to many pending and threatened legal actions, claims, disputes, arbitrations and other legal proceedings incident to our business, arising from or related to matters, including but not limited to: product liability; personal injury; patents, trademarks, trade secrets or other intellectual property; labor and employment disputes; commercial or contractual disputes; strategic acquisitions or divestitures; the prior sale or use of former products allegedly containing asbestos or other restricted materials; breach of warranty; or environmental matters. Claimed amounts against us may be substantial, but may not bear any reasonable relationship to the merits of the claim or the extent of any real risk of court or arbitral awards. We record accruals for losses related to those matters against us that we consider to be probable and that can be reasonably estimated. Gain contingencies, if any, are recognized when they are realized and legal costs generally are expensed when incurred. As of April 3, 2026, our accrual for the potential resolution of lawsuits, claims or proceedings that we consider probable of being decided unfavorably to us was not material. We cannot at this time estimate the reasonably possible loss or range of loss in excess of our accrual due to the inherent uncertainties and speculative nature of contested proceedings. Although it is not feasible to predict the outcome of these matters with certainty, based on available information, in the opinion of management, settlements, arbitration awards and final judgments, if any, that are considered probable of being rendered against us in litigation or arbitration in existence as of April 3, 2026 were reserved against or would not have a material adverse effect on our financial condition, results of operations, cash flows or equity.
Environmental Matters
We are subject to numerous U.S. federal, state, local and international environmental laws and regulatory requirements and are involved from time to time in investigations or litigation of various potential environmental issues. We or companies we have acquired are responsible, or alleged to be responsible, for environmental investigation and/or remediation of multiple sites, including sites owned by us and third-party sites. These sites are in various stages of investigation and/or remediation, and in some cases our liability is considered de minimis. Notices from the U.S. Environmental Protection Agency or equivalent state or international environmental agencies allege that several sites formerly or currently owned and/or operated by us or companies we have acquired, and other properties or water supplies that may be or have been impacted from those operations, contain disposed or recycled materials or wastes and require environmental investigation and/or remediation. These sites include instances of being identified as a potentially responsible party (“PRP”) under the Comprehensive Environmental Response, Compensation and Liability Act (commonly known as the “Superfund Act”), the Resource Conservation Recovery Act and/or equivalent state and international laws, and in some instances, our liability and proportionate share of costs that may be shared among other PRPs have not been determined largely due to uncertainties as to the nature and extent of site conditions and our involvement.
Based on an assessment of relevant factors, we estimated that our liability under applicable environmental statutes and regulations for identified sites was $657 million and $659 million as of April 3, 2026 and January 2, 2026, respectively. The current and non-current portions of our estimated environmental liability are included in the “Other current liabilities” and “Other non-current liabilities” line items, respectively, in our Condensed Consolidated Balance Sheet.
Certain environmental costs are eligible for future recovery in the pricing of our products and services to the U.S. Government and based on U.S. Government contracting regulations, we consider the recovery probable. We had recoverable assets of $482 million and $483 million, as of April 3, 2026 and January 2, 2026, respectively. The current and non-current portions of the recoverable costs are included in the “Other current assets” and “Other non-current assets” line items, respectively, in our Condensed Consolidated Balance Sheet.
v3.26.1
SUBSEQUENT EVENTS
 3 Months Ended
Apr. 03, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
NOTE Q: SUBSEQUENT EVENTS
On April 17, 2026, the Company, through our wholly owned subsidiary, Aerojet Rocketdyne Holdings, Inc. (“AJRD”), entered into definitive agreements with the United States Department of War (the “Investor”). The agreements provide for the issuance and sale of shares of Series A Convertible Preferred Stock of AJRD (the “Series A Preferred Stock”) and warrants (the “Warrants”) to purchase common stock of AJRD (the “Common Stock”) for an aggregate purchase price of $1.0 billion.
The purpose of the investment is to strengthen the U.S. defense industrial base by providing funding for AJRD to expand and modernize its facilities, accelerate research and development, and increase production capacity for critical technologies.
The Series A Preferred Stock will be convertible into shares of AJRD’s Common Stock at the Investor’s option. In the event of an initial public offering (“IPO”) of AJRD’s Common Stock, the Series A Preferred Stock will automatically convert into Common Stock of the IPO Company at a conversion price equal to 80% of the price to the public in the IPO (the “IPO Price”) reflecting a mutually agreed-upon valuation that aligns with the strategic objectives of the investment, and the Warrants will be automatically exchanged for new warrants, which are exercisable from time to time to purchase 3% of the common stock of the IPO Company, on a fully diluted basis, with an average exercise price of 110% of the IPO Price. Upon completion of the IPO, the Investor is expected to own less than 10% of the IPO Company’s common stock on an as-exercised basis.
The agreements contain customary representations, warranties, and covenants by the Company and the Investor. The Agreement also provides for certain registration rights for the shares of Common Stock issuable upon conversion of the Series A Preferred Stock. Under the terms of the agreements, AJRD may redeem the Series A Preferred Stock and Warrants held by the Investor under certain conditions.
As of April 3, 2026, the agreements had not closed, and accordingly, their impacts are not reflected in our first quarter 2026 Condensed Consolidated Financial Statements. The impacts will be recognized in second quarter 2026.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Apr. 03, 2026
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
The following table includes the material terms (other than with respect to the price) of each 10b5-1 Plan adopted or terminated by our executive officers and directors during first quarter 2026:
Name and title
Date of adoption of 10b5-1 Plan(1)
Scheduled expiration date of 10b5-1 Plan(2)
Aggregate number of shares of common stock to be purchased or sold(3)
Christopher Kubasik Chairman and CEO
February 4, 2026October 30, 2026
Up to 189,501 shares including 129,501 shares of underlying options expiring in 2029
Samir Mehta President, SMS and CSD
March 13, 2026December 8, 2026
Up to 47,374 shares including 39,721 shares of underlying options expiring by 2035
_______________
(1) Transactions under each Rule 10b5-1 Plan commence no earlier than 90 days after adoption, or such later date as required by Rule 10b5-1.
(2) Each Rule 10b5-1 Plan may expire on such earlier date as all transactions are completed.
(3) Each Rule 10b5-1 Plan provides for shares to be sold on multiple predetermined dates.
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Christopher Kubasik [Member]  
Trading Arrangements, by Individual  
Name Christopher Kubasik
Title Chairman and CEO
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 4, 2026
Expiration Date October 30, 2026
Arrangement Duration 134 days
Aggregate Available 189,501
Samir Mehta [Member]  
Trading Arrangements, by Individual  
Name Samir Mehta
Title President, SMS and CSD
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 13, 2026
Expiration Date December 8, 2026
Arrangement Duration 181 days
Aggregate Available 47,374
v3.26.1
BASIS OF PRESENTATION (Policies)
 3 Months Ended
Apr. 03, 2026
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation
The accompanying Condensed Consolidated Financial Statements include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these notes to the Condensed Consolidated Financial Statements (these “Notes”), the terms “L3Harris,” “Company,” “we,” “our” and “us” refer to L3Harris Technologies, Inc. and its consolidated subsidiaries. Intercompany transactions and accounts have been eliminated.
The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, such interim financial statements do not include all information and footnotes necessary for a complete presentation of financial condition, results of operations, cash flows and equity in conformity with GAAP for annual financial statements and are not necessarily indicative of the results that may be expected for the full fiscal year or any subsequent period.
In the opinion of management, these interim financial statements reflect all adjustments (including normal recurring adjustments) considered necessary for a fair presentation of our financial condition, results of operations, cash flows and equity for the periods presented.
Fiscal Year Our fiscal year is based on a 52- or 53-week period ending on the Friday nearest December 31. The fiscal quarters ended April 3, 2026 (“first quarter 2026”) and March 28, 2025 (“first quarter 2025”) include thirteen and twelve weeks, respectively.
Use of Estimates
Use of Estimates
The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Condensed Consolidated Financial Statements and these Notes. Materially different results can occur as circumstances change and additional information becomes known.
Reclassifications
Reclassifications
The classification of certain prior year amounts have been adjusted in our Condensed Consolidated Financial Statements and these Notes to conform to current year classifications.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
See Note 1: Significant Accounting Policies in our Fiscal 2025 Form 10-K for information on recently issued accounting pronouncements.
Earnings Per Share
EPS is calculated as net income attributable to common shareholders divided by our weighted-average number of basic or diluted common shares outstanding. Potential dilutive common shares primarily consist of employee stock options, restricted stock units (“RSUs”) and performance share units (“PSUs”).
Fair Value Measurements
Deferred Compensation Plans
We sponsor certain non-qualified deferred compensation plans which are measured at fair value on a recurring basis in our Condensed Consolidated Balance Sheet. Deferred compensation plan assets represent diversified assets held in rabbi trusts, which include marketable equity and fixed income securities (Level 1) and corporate-owned life insurance (”COLI”) contracts measured at NAV. Liabilities represent participant balances in marketable equity securities (Level 1) and common/collective trusts (“CCTs”) and guaranteed investment contracts (“GICs”) measured at NAV based on participant designed investment options.
v3.26.1
EARNINGS PER SHARE ("EPS") (Tables)
 3 Months Ended
Apr. 03, 2026
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The weighted-average number of shares outstanding used to compute basic and diluted EPS are as follows:
First Quarter
(In millions)20262025
Basic weighted-average common shares outstanding186.8 188.5 
Impact of dilutive share-based awards1.3 0.6 
Diluted weighted-average common shares outstanding188.1 189.1 
v3.26.1
CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)
 3 Months Ended
Apr. 03, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Assets and Contract Liabilities
Contract assets and contract liabilities are summarized below:
(In millions)April 3, 2026January 2, 2026
Contract assets
$3,530 $3,566 
Contract liabilities
(2,736)(2,262)
Contract liabilities, non-current(1)
(88)(108)
Net contract assets$706 $1,196 
_______________
(1)Included as a component of the “Other non-current liabilities” line item in our Condensed Consolidated Balance Sheet.
v3.26.1
INVENTORIES, NET (Tables)
 3 Months Ended
Apr. 03, 2026
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories, net are summarized below:
(In millions)April 3, 2026January 2, 2026
Materials and supplies$693 $685 
Work in process309 291 
Finished products
232 243 
Inventories, net
$1,234 $1,219 
v3.26.1
GOODWILL AND INTANGIBLE ASSETS (Tables)
 3 Months Ended
Apr. 03, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amounts of Goodwill
Changes in the carrying amount of goodwill, by business segment, were as follows:
(In millions)SMSCSDMSLTotal
Balance as of January 2, 2026(1)
$9,005 $7,712 $3,293 $20,010 
Currency translation adjustments(5)(6)— (11)
Balance as of April 3, 2026
$9,000 $7,706 $3,293 $19,999 
_______________
(1)Balances reflect impact of segment reorganization, as discussed in Note A: Basis of Presentation in these Notes.
Schedule of Indefinite-Lived Intangible Assets
Intangible assets, net are summarized below:
April 3, 2026January 2, 2026
(In millions)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Customer relationships(1)
$8,325 $(4,185)$4,140 $8,329 $(4,031)$4,298 
Developed technologies(1)
848 (557)291 849 (544)305 
Trade names(1)
174 (77)97 175 (75)100 
Other4 (4)— 6 (3)3 
Total finite-lived intangible assets9,351 (4,823)4,528 9,359 (4,653)4,706 
Trade name(1)
1,803 — 1,803 1,803 — 1,803 
Intangible assets, net$11,154 $(4,823)$6,331 $11,162 $(4,653)$6,509 
_______________
(1)Includes acquisition-related intangibles that benefit the entire Company. As such, these assets and associated amortization are reported at Corporate.
Schedule of Finite-Lived Intangible Assets
Intangible assets, net are summarized below:
April 3, 2026January 2, 2026
(In millions)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Customer relationships(1)
$8,325 $(4,185)$4,140 $8,329 $(4,031)$4,298 
Developed technologies(1)
848 (557)291 849 (544)305 
Trade names(1)
174 (77)97 175 (75)100 
Other4 (4)— 6 (3)3 
Total finite-lived intangible assets9,351 (4,823)4,528 9,359 (4,653)4,706 
Trade name(1)
1,803 — 1,803 1,803 — 1,803 
Intangible assets, net$11,154 $(4,823)$6,331 $11,162 $(4,653)$6,509 
_______________
(1)Includes acquisition-related intangibles that benefit the entire Company. As such, these assets and associated amortization are reported at Corporate.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Future estimated amortization expense for intangible assets is as follows:
(In millions)Remaining Fiscal 2026Fiscal 2027Fiscal 2028Fiscal 2029Fiscal 2030ThereafterTotal
Amortization expense$458 $531 $459 $403 $386 $2,291 $4,528 
v3.26.1
INCOME TAXES (Tables)
 3 Months Ended
Apr. 03, 2026
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
ETR was as follows:
 First Quarter
(In millions)20262025
 
Income tax expense$(77)$(73)
ETR13.1 %15.9 %
v3.26.1
DEBT AND CREDIT ARRANGEMENTS (Tables)
 3 Months Ended
Apr. 03, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt, Net
Long-term debt is summarized below:
(In millions)April 3, 2026January 2, 2026
Fixed-rate debt(1)
$10,776 $10,876 
Finance lease obligations and other274 283 
Unamortized discounts and issuance costs, net of bond premium(43)(43)
Total long-term debt11,007 11,116 
Less: Current portion of long term debt(2)
1,816 673 
Long-term debt, net$9,191 $10,443 
_______________
(1)See Note 8: Debt and Credit Arrangements in our Fiscal 2025 Form 10-K for information on our fixed-rate debt.
(2)As of April 3, 2026, includes the $550 million 3.85% notes, due December 2026 (“3.85% 2026 Notes”) and $1,250 million 5.40% notes, due January 2027 (“5.40% 2027 Notes”). As of January 2, 2026, includes the $100 million 7.00% debentures, due January 2026 (“7.00% 2026 Debentures”) and $550 million 3.85% 2026 Notes.
v3.26.1
RETIREMENT BENEFITS (Tables)
 3 Months Ended
Apr. 03, 2026
Retirement Benefits [Abstract]  
Schedule of Components of Net Benefit Income
The components of net periodic benefit income for our defined benefit pension plans and other postretirement benefit plans (“other benefits”) (collectively, “defined benefit plans”) were as follows:
First Quarter
20262025
(In millions)
Pension
Other Benefits
Total
Pension
Other Benefits
Total
Operating
Service cost(1)
$5 $— $5 $6 $— $6 
Non-operating
Interest cost71 2 73 88 3 91 
Expected return on plan assets(133)(5)(138)(151)(5)(156)
Amortization of net actuarial gains(1)(3)(4)(1)(3)(4)
Amortization of prior service credits(6)— (6)(7)— (7)
Effect of settlements— — — (14)— (14)
Non-service cost net periodic benefit income(2)
(69)(6)(75)(85)(5)(90)
Net periodic benefit income$(64)$(6)$(70)$(79)$(5)$(84)
______________
(1)Included in the “Cost of revenue” and “General and administrative expenses” line items in our Condensed Consolidated Statement of Operations.
(2)Included in the “Non-service FAS pension income and other, net” line item in our Condensed Consolidated Statement of Operations.
v3.26.1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Apr. 03, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Awards Granted, Stock Option and Units
Awards granted to participants under the L3Harris SIPs and the weighted-average grant-date fair value per share or unit were as follows:
First Quarter
20262025
(In thousands, except per share/unit amounts)Shares or UnitsWeighted-Average Grant-Date Fair Value
Per Share or Unit		Shares or UnitsWeighted-Average Grant-Date Fair Value
Per Share or Unit
Stock options(1)
210 $92.06 388 $49.20 
RSUs (2)
68 $352.82 118 $206.88 
PSUs (3)
109 $421.37 185 $217.67 
_______________
(1)Other than certain stock options granted in connection with new hires, our stock options generally vest ratably in equal amounts over a three-year period.
(2)The majority of our RSUs, including those granted annually to executives under our long-term incentive plan, cliff vest after three years.
(3)Our PSUs are subject to performance criteria and generally vest after the three-year performance period.
v3.26.1
SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Apr. 03, 2026
Equity [Abstract]  
Schedule of Components of AOCI
Changes in the components of AOCI, net of tax were as follows:
(In millions)
Foreign currency translation and other, net(1)
Pension and other postretirement benefits(2)
Total AOCI
Balance as of January 2, 2026
$(234)$353 $119 
Other comprehensive loss before reclassifications(15)— (15)
Losses (gains) reclassified to earnings
2 (8)(6)
Other comprehensive loss(13)(8)(21)
Balance as of April 3, 2026$(247)$345 $98 
Balance as of January 3, 2025$(331)$358 $27 
Other comprehensive income (loss) before reclassifications19 (43)(24)
Losses (gains) reclassified to earnings
11 (28)(17)
Other comprehensive income (loss)30 (71)(41)
Balance as of March 28, 2025
$(301)$287 $(14)
_______________
(1)Other, net consists of hedging derivatives.
(2)See Note H: Retirement Benefits in these Notes for additional information.
v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Apr. 03, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table summarizes our deferred compensation plan assets and liabilities:
April 3, 2026January 2, 2026
(In millions)TotalLevel 1TotalLevel 1
Assets
Equity and fixed income securities$246 $246 $255 $255 
COLI, measured at NAV38 38 
Deferred compensation plan assets(1)
$284 $293 
Liabilities
Equity securities$17 $17 $15 $15 
CCTs and GICs, measured at NAV
397 431 
Deferred compensation plan liabilities(2)
$414 $446 
_______________
(1)Included in the “Other current assets” and “Other non-current assets” line items in our Condensed Consolidated Balance Sheet.
(2)Included in the “Compensation and benefits” and “Other non-current liabilities” line items in our Condensed Consolidated Balance Sheet.
v3.26.1
CHANGES IN ESTIMATES (Tables)
 3 Months Ended
Apr. 03, 2026
Change in Accounting Estimate [Abstract]  
Schedule of Net Estimated at Completion ("EAC") Adjustments
The following table presents the effect of aggregate net EAC adjustments:
First Quarter
(In millions, except per share amounts)20262025
Revenue$86 $37 
Operating income18 (21)
Net income(1)
14 (16)
Diluted EPS0.07 (0.08)
_______________
(1)Based on a 25 percent federal and state statutory tax rate.
v3.26.1
DIVESTITURES (Tables)
 3 Months Ended
Apr. 03, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Divestitures and Asset Sales
The carrying amounts of the assets and liabilities of the Space Technology disposal group classified as held for sale in our Condensed Consolidated Balance Sheet were as follows:
(In millions)April 3, 2026January 2, 2026
Receivables, net$108 $26 
Contract assets58 94 
Inventories, net10 8 
Other current assets10 11 
Property, plant and equipment, net120 115 
Goodwill285 285 
Intangible assets, net372 373 
Other non-current assets26 26 
Valuation allowance(63)(54)
Total assets held for sale$926 $884 
Accounts payable13 9 
Contract liabilities46 59 
Compensation and benefits11 7 
Other current liabilities21 19 
Other non-current liabilities20 19 
Total liabilities held for sale$111 $113 
v3.26.1
BUSINESS SEGMENT INFORMATION (Tables)
 3 Months Ended
Apr. 03, 2026
Segment Reporting [Abstract]  
Schedule of Selected Financial Information by Business Segments
The following table presents operating results by business segment and a reconciliation to total income before income taxes:
 First Quarter
(In millions)20262025
 
Revenue
SMS$2,990 $2,411 
CSD1,855 1,809 
MSL990 840 
Intersegment(91)(74)
Segment revenue5,744 4,986 
Other(1)
— 146 
Total revenue5,744 5,132 
Cost of revenue
SMS(2,439)(1,948)
CSD(1,163)(1,157)
MSL(807)(656)
Intersegment91 
74 
Segment cost of revenue(4,318)(3,687)
Other(2)
(24)(95)
Total cost of revenue(4,342)(3,782)
Operating income
SMS313 238 
CSD465 443 
MSL124 96 
Segment operating income902 777 
Unallocated corporate items and other, net(250)
(252)
Total operating income652 525 
Non-service FAS pension income and other, net73 
84 
Interest expense, net(136)(150)
Income before income taxes$589 $459 
_______________
(1)Includes other non-reportable businesses, which consists of the CAS disposal group, corporate headquarters, and eliminations.
(2)Includes corporate headquarters. Additionally, first quarter 2025 includes other non-reportable businesses, which consists of the CAS disposal group.
Schedule of Disaggregation of Revenue by Segment
Assets
Total assets by business segment were as follows:
(In millions)April 3, 2026January 2, 2026
SMS$14,264 $13,736 
CSD10,932 10,862 
MSL6,748 6,605 
Corporate(1)
9,436 9,992 
Total assets$41,380 $41,195 
_______________
(1)Includes intangible assets acquired in connection with business combinations that benefit the entire Company. See the “Intangible Assets” section in Note E: Goodwill and Intangible Assets in these Notes for further information.
Other Financial Information
Other financial information by business segment is summarized below:
First Quarter
(In millions)20262025
Capital expenditures
SMS$29 $35 
CSD18 8 
MSL33 14 
Corporate19 2 
Total capital expenditures$99 $59 
Depreciation and amortization
SMS$42 $40 
CSD18 17 
MSL14 16 
Corporate208 228 
Total depreciation and amortization$282 $301 
We disaggregate revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
First Quarter
20262025
(In millions)SMSCSDMSLSMSCSDMSL
Other(1)
Revenue by customer relationship
Prime contractor$2,286 $1,192 $250 $1,725 $1,173 $222 $72 
Subcontractor681 606 729 660 607 600 73 
Intersegment23 57 11 26 29 18 1 
Total segment$2,990 $1,855 $990 $2,411 $1,809 $840 $146 
Revenue by contract type
Fixed-price
$1,910 $1,520 $643 $1,658 $1,493 $505 $145 
Cost-type1,057 278 336 727 287 317 — 
Intersegment23 57 11 26 29 18 1 
Total segment$2,990 $1,855 $990 $2,411 $1,809 $840 $146 
Revenue by geographical region
United States$2,540 $1,037 $874 $2,028 $1,091 $795 $61 
International427 761 105 357 689 27 84 
Intersegment23 57 11 26 29 18 1 
Total segment$2,990 $1,855 $990 $2,411 $1,809 $840 $146 
_______________
(1)Includes revenue associated with other non-reportable businesses, which consists of the CAS disposal group. These amounts are included to reconcile total revenue.
v3.26.1
BASIS OF PRESENTATION (Details) - segment
 3 Months Ended 12 Months Ended
Apr. 03, 2026
Jan. 02, 2026
Accounting Policies [Abstract]    
Number of reportable segments 3 4
v3.26.1
EARNINGS PER SHARE ("EPS") (Details) - shares
shares in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Earnings Per Share [Abstract]    
Basic weighted-average common shares outstanding (in shares) 186.8 188.5
Impact of dilutive share-based awards (in shares) 1.3 0.6
Diluted weighted average common shares outstanding (in shares) 188.1 189.1
Weighted average anti-dilutive employee stock options outstanding (in shares) 0.1 1.0
v3.26.1
CONTRACT ASSETS AND CONTRACT LIABILITIES - Schedule of Contract Assets and Liabilities (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Revenue from Contract with Customer [Abstract]    
Contract assets $ 3,530 $ 3,566
Contract liabilities (2,736) (2,262)
Contract liabilities, non-current (88) (108)
Net contract assets $ 706 $ 1,196
v3.26.1
CONTRACT ASSETS AND CONTRACT LIABILITIES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Revenue from Contract with Customer [Abstract]    
Recognized revenue related to contract liabilities outstanding at the end of the year $ 861 $ 698
v3.26.1
INVENTORIES, NET (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Inventory Disclosure [Abstract]    
Materials and supplies $ 693 $ 685
Work in process 309 291
Finished products 232 243
Inventories, net $ 1,234 $ 1,219
v3.26.1
GOODWILL AND INTANGIBLE ASSETS - Schedule of Changes in Carrying Amount of Goodwill (Details)
$ in Millions
 3 Months Ended
Apr. 03, 2026
USD ($)
Goodwill [Roll Forward]  
Beginning Balance $ 20,010
Currency translation adjustments (11)
Ending Balance 19,999
SMS  
Goodwill [Roll Forward]  
Beginning Balance 9,005
Currency translation adjustments (5)
Ending Balance 9,000
CSD  
Goodwill [Roll Forward]  
Beginning Balance 7,712
Currency translation adjustments (6)
Ending Balance 7,706
MSL  
Goodwill [Roll Forward]  
Beginning Balance 3,293
Currency translation adjustments 0
Ending Balance $ 3,293
v3.26.1
GOODWILL AND INTANGIBLE ASSETS - Narrative (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Apr. 03, 2026
USD ($)
business
reporting_unit
segment
Mar. 28, 2025
USD ($)
Jan. 02, 2026
USD ($)
segment
reporting_unit
Finite-Lived Intangible Assets [Line Items]      
Number of reportable segments | segment 3   4
Amortization expense $ 174 $ 194  
Number of reporting units | reporting_unit 5   7
Number of reporting units reassigned | reporting_unit 3    
Space And Airborne Systems Reporting Unit      
Finite-Lived Intangible Assets [Line Items]      
Number of businesses combined | business 2    
Targeting And Sensor Systems And Defense Electronics Reporting Unit      
Finite-Lived Intangible Assets [Line Items]      
Number of businesses combined | business 2    
Broadband Reporting Unit      
Finite-Lived Intangible Assets [Line Items]      
Number of businesses combined | business 2    
SMS      
Finite-Lived Intangible Assets [Line Items]      
Accumulated goodwill impairment loss $ 120   $ 120
CSD      
Finite-Lived Intangible Assets [Line Items]      
Accumulated goodwill impairment loss 431   431
MSL      
Finite-Lived Intangible Assets [Line Items]      
Accumulated goodwill impairment loss $ 337   $ 337
v3.26.1
GOODWILL AND INTANGIBLE ASSETS - Schedule of Finite and Indefinite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 9,351 $ 9,359
Total intangibles, gross carrying amount 11,154 11,162
Accumulated Amortization (4,823) (4,653)
Net Carrying Amount 4,528 4,706
Intangible assets, net 6,331 6,509
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Trade name - indefinite-lived 1,803 1,803
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 8,325 8,329
Accumulated Amortization (4,185) (4,031)
Net Carrying Amount 4,140 4,298
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 848 849
Accumulated Amortization (557) (544)
Net Carrying Amount 291 305
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 174 175
Accumulated Amortization (77) (75)
Net Carrying Amount 97 100
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 4 6
Accumulated Amortization (4) (3)
Net Carrying Amount $ 0 $ 3
v3.26.1
GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization Expense (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Goodwill and Intangible Assets Disclosure [Abstract]    
Remaining Fiscal 2026 $ 458  
Fiscal 2027 531  
Fiscal 2028 459  
Fiscal 2029 403  
Fiscal 2030 386  
Thereafter 2,291  
Net Carrying Amount $ 4,528 $ 4,706
v3.26.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Income Tax Disclosure [Abstract]    
Income tax expense $ (77) $ (73)
Effective tax rate (“ETR”) 13.10% 15.90%
v3.26.1
DEBT AND CREDIT ARRANGEMENTS - Schedule of Long-term Debt, Net (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 14, 2026
Jan. 02, 2026
Debt Instrument [Line Items]      
Total fixed rate debt $ 10,776   $ 10,876
Finance lease obligations and other 274   283
Unamortized discounts and issuance costs, net of bond premium (43)   (43)
Total long-term debt 11,007   11,116
Less: current portion 1,816   673
Long-term debt, net 9,191   10,443
3.850% Senior Notes due December 15, 2026 | Fixed-rate debt      
Debt Instrument [Line Items]      
Total fixed rate debt $ 550   $ 550
Debt interest rate percentage 3.85%   3.85%
5.40% notes, due January 15, 2027 (“5.40% 2027 Notes”) | Fixed-rate debt      
Debt Instrument [Line Items]      
Total fixed rate debt $ 1,250    
Debt interest rate percentage 5.40%    
2026 debentures | Fixed-rate debt      
Debt Instrument [Line Items]      
Total fixed rate debt     $ 100
Debt interest rate percentage   7.00% 7.00%
v3.26.1
DEBT AND CREDIT ARRANGEMENTS - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 14, 2026
Feb. 18, 2025
Apr. 03, 2026
Jan. 02, 2026
Debt Instrument [Line Items]        
Short-term debt     $ 350 $ 0
Debt, weighted average interest rate     4.15%  
Commercial Paper        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity     $ 2,500 3,000
Short-term debt     $ 350 0
Commercial Paper | Maximum        
Debt Instrument [Line Items]        
Debt instrument term     397 days  
Estimate of Fair Value Measurement | Valuation, Market Approach        
Debt Instrument [Line Items]        
Long-term debt, including the current portion of long-term debt, net     $ 11,000 $ 11,200
2026 debentures | Fixed-rate debt        
Debt Instrument [Line Items]        
Repayments of long-term debt $ 100      
Debt interest rate percentage 7.00%     7.00%
2025 Five-Year Credit Facility | Revolving Credit Facility | Line of Credit        
Debt Instrument [Line Items]        
Outstanding borrowings     0  
2025 Five-Year Credit Facility | Line of Credit | Revolving Credit Facility        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity   $ 2,500    
Debt instrument term   5 years    
2025 364-Day Credit Facility | Revolving Credit Facility | Line of Credit        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity   $ 500    
Outstanding borrowings     0  
2025 Credit Facility | Revolving Credit Facility | Line of Credit        
Debt Instrument [Line Items]        
Debt instrument term   364 days    
2025 Five-Year Credit Facility And 2025 364-Day Credit Agreement | Revolving Credit Facility | Line of Credit        
Debt Instrument [Line Items]        
Available borrowing capacity     $ 2,200  
3.850% Senior Notes due December 15, 2026 | Fixed-rate debt        
Debt Instrument [Line Items]        
Debt interest rate percentage     3.85% 3.85%
5.40% notes, due January 15, 2027 (“5.40% 2027 Notes”) | Fixed-rate debt        
Debt Instrument [Line Items]        
Debt interest rate percentage     5.40%  
v3.26.1
RETIREMENT BENEFITS (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Operating    
Service cost $ 5 $ 6
Non-operating    
Interest cost 73 91
Expected return on plan assets (138) (156)
Amortization of net actuarial gains (4) (4)
Amortization of prior service credits (6) (7)
Effect of settlements 0 (14)
Non-service cost net periodic benefit income (75) (90)
Net periodic benefit income (70) (84)
Pension    
Operating    
Service cost 5 6
Non-operating    
Interest cost 71 88
Expected return on plan assets (133) (151)
Amortization of net actuarial gains (1) (1)
Amortization of prior service credits (6) (7)
Effect of settlements 0 (14)
Non-service cost net periodic benefit income (69) (85)
Net periodic benefit income (64) (79)
Other Benefits    
Operating    
Service cost 0 0
Non-operating    
Interest cost 2 3
Expected return on plan assets (5) (5)
Amortization of net actuarial gains (3) (3)
Amortization of prior service credits 0 0
Effect of settlements 0 0
Non-service cost net periodic benefit income (6) (5)
Net periodic benefit income $ (6) $ (5)
v3.26.1
SHARE-BASED COMPENSATION - Schedule of Awards Granted (Details) - $ / shares
shares in Thousands
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Stock Options    
Shares or Units    
Stock options (in shares) 210 388
Weighted-Average Grant-Date Fair Value Per Share or Unit    
Stock options (in dollars per share) $ 92.06 $ 49.20
Award vesting period 3 years  
RSUs    
Shares or Units    
Equity instruments other than options granted (in shares) 68 118
Weighted-Average Grant-Date Fair Value Per Share or Unit    
Equity instruments other than options granted (in dollars per share) $ 352.82 $ 206.88
Award vesting period 3 years  
PSUs    
Shares or Units    
Equity instruments other than options granted (in shares) 109 185
Weighted-Average Grant-Date Fair Value Per Share or Unit    
Equity instruments other than options granted (in dollars per share) $ 421.37 $ 217.67
Award vesting period 3 years  
v3.26.1
SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based payment arrangement, expense $ 21 $ 19
L3Harris Shareholder-approved Employee Stock Incentive Plans    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Common stock issued, net of shares withheld for tax purposes (in shares) 0.4 0.2
v3.26.1
SHAREHOLDERS' EQUITY - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Jan. 02, 2026
Oct. 21, 2022
Jan. 28, 2021
Equity [Abstract]          
Common shares, authorized (in shares) 500,000,000   500,000,000    
Common shares, par value (in dollars per share) $ 1   $ 1    
Common shares, issued (in shares) 186,601,408   186,844,093    
Common shares, outstanding (in shares) 186,601,408   186,844,093    
Authorized amount of repurchase program       $ 3,000 $ 6,000
Stock repurchased during period (in shares) 800,000 2,700,000      
Payments for repurchases of common stock $ 296 $ 569      
Remaining unused authorization of prior share repurchase program $ 1,900 2,800      
Stock repurchase during period   $ 569      
Preferred stock authorized (in shares) 1,000,000   1,000,000    
Preferred stock, shares issued (in shares) 0        
Preferred stock, shares outstanding (in shares) 0   0    
v3.26.1
SHAREHOLDERS' EQUITY - Schedule of Components of AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Other comprehensive loss $ (21) $ (41)
Ending balance   19,130
AOCI Attributable to Parent    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 119 27
Other comprehensive loss before reclassifications (15) (24)
Losses (gains) reclassified to earnings (6) (17)
Other comprehensive loss (21) (41)
Ending balance 98 (14)
Foreign currency translation and other, net    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (234) (331)
Other comprehensive loss before reclassifications (15) 19
Losses (gains) reclassified to earnings 2 11
Other comprehensive loss (13) 30
Ending balance (247) (301)
Pension and other postretirement benefits    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 353 358
Other comprehensive loss before reclassifications 0 (43)
Losses (gains) reclassified to earnings (8) (28)
Other comprehensive loss (8) (71)
Ending balance $ 345 $ 287
v3.26.1
FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of deferred compensation plan assets $ 284 $ 293
Fair value of deferred compensation plan liabilities 414 446
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of deferred compensation plan assets 246 255
Fair value of deferred compensation plan liabilities 17 15
Investments Measured at NAV    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of deferred compensation plan assets 38 38
Fair value of deferred compensation plan liabilities $ 397 $ 431
v3.26.1
CHANGES IN ESTIMATES (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Change in Accounting Estimate [Line Items]    
Revenue $ 5,744 $ 5,132
Operating income $ 652 $ 525
Federal statutory tax rate 25.00% 25.00%
State statutory tax rate 25.00% 25.00%
Contracts Accounted for under Percentage of Completion    
Change in Accounting Estimate [Line Items]    
Revenue $ 86 $ 37
Operating income 18 (21)
Net income $ 14 $ (16)
Diluted EPS (in dollars per share) $ 0.07 $ (0.08)
v3.26.1
CONTRACTUAL BACKLOG (Details)
$ in Billions
Apr. 03, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Backlog $ 40.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-04 | Revenue, Remaining Performance Obligation, First Year  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation percentage 40.00%
Expected timing of satisfaction period 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-04 | Revenue, Remaining Performance Obligation, First And Second Years  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation percentage 65.00%
Expected timing of satisfaction period 24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-04  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Expected timing of satisfaction period
v3.26.1
DIVESTITURES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Jul. 03, 2026
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Proceeds from sales of businesses, net of cash divested $ 0 $ 831  
Disposal group, held-for-sale, not discontinued operations | Space Technology Disposal Group      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal group, interest acquired by counterparty 60.00%    
Cash price on sale of business $ 825    
Pre-tax income on divestiture 31 14  
Loss on write-down $ 10    
Disposal group, held-for-sale, not discontinued operations | CAS Disposal Group      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Proceeds from sales of businesses, net of cash divested   $ 831  
Space Propulsion And Power Systems And Space Avionics And Communications Businesses | Forecast      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Noncontrolling interest ownership percentage     40.00%
v3.26.1
DIVESTITURES - Space Technology Disposal Group, Schedule of Assets and Liabilities Divested (Details) - Disposal group, held-for-sale, not discontinued operations - Space Technology Disposal Group - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Business Combination [Line Items]    
Receivables, net $ 108 $ 26
Contract assets 58 94
Inventories, net 10 8
Other current assets 10 11
Property, plant and equipment, net 120 115
Goodwill 285 285
Intangible assets, net 372 373
Other non-current assets 26 26
Valuation allowance (63) (54)
Total assets 926 884
Accounts payable 13 9
Contract liabilities 46 59
Compensation and benefits 11 7
Other accrued items 21 19
Other non-current liabilities 20 19
Total liabilities $ 111 $ 113
v3.26.1
BUSINESS SEGMENT INFORMATION - Narrative (Details)
 3 Months Ended
Apr. 03, 2026
capability_area
segment
Segment Reporting [Abstract]  
Number of operating segments | segment 3
Number Of Segment Capability Areas | capability_area 4
v3.26.1
BUSINESS SEGMENT INFORMATION - Revenues and Income From Continuing Operations by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Segment Reporting Information [Line Items]    
Revenue $ 5,744 $ 5,132
Cost of revenue (4,342) (3,782)
Segment operating income 652 525
Non-service FAS pension income and other, net 75 90
Interest expense, net (136) (150)
Income before income taxes 589 459
Operating segments    
Segment Reporting Information [Line Items]    
Revenue 5,744 4,986
Cost of revenue (4,318) (3,687)
Segment operating income 902 777
Operating segments | SMS    
Segment Reporting Information [Line Items]    
Revenue 2,990 2,411
Cost of revenue (2,439) (1,948)
Segment operating income 313 238
Operating segments | CSD    
Segment Reporting Information [Line Items]    
Revenue 1,855 1,809
Cost of revenue (1,163) (1,157)
Segment operating income 465 443
Operating segments | MSL    
Segment Reporting Information [Line Items]    
Revenue 990 840
Cost of revenue (807) (656)
Segment operating income 124 96
Intersegment    
Segment Reporting Information [Line Items]    
Revenue (91) (74)
Cost of revenue 91 74
Intersegment | SMS    
Segment Reporting Information [Line Items]    
Revenue (23) (26)
Intersegment | CSD    
Segment Reporting Information [Line Items]    
Revenue (57) (29)
Intersegment | MSL    
Segment Reporting Information [Line Items]    
Revenue (11) (18)
Other    
Segment Reporting Information [Line Items]    
Revenue 0 146
Cost of revenue (24) (95)
Corporate    
Segment Reporting Information [Line Items]    
Segment operating income $ (250) $ (252)
v3.26.1
BUSINESS SEGMENT INFORMATION - Capital Expenditures and Depreciation by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Segment Reporting Information [Line Items]    
Capital expenditures $ 99 $ 59
Depreciation and amortization 282 301
Operating segments | SMS    
Segment Reporting Information [Line Items]    
Capital expenditures 29 35
Depreciation and amortization 42 40
Operating segments | CSD    
Segment Reporting Information [Line Items]    
Capital expenditures 18 8
Depreciation and amortization 18 17
Operating segments | MSL    
Segment Reporting Information [Line Items]    
Capital expenditures 33 14
Depreciation and amortization 14 16
Corporate    
Segment Reporting Information [Line Items]    
Capital expenditures 19 2
Depreciation and amortization $ 208 $ 228
v3.26.1
BUSINESS SEGMENT INFORMATION - Total Assets by Segment (Details) - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Segment Reporting Information [Line Items]    
Assets $ 41,380 $ 41,195
Operating segments | SMS    
Segment Reporting Information [Line Items]    
Assets 14,264 13,736
Operating segments | CSD    
Segment Reporting Information [Line Items]    
Assets 10,932 10,862
Operating segments | MSL    
Segment Reporting Information [Line Items]    
Assets 6,748 6,605
Corporate    
Segment Reporting Information [Line Items]    
Assets $ 9,436 $ 9,992
v3.26.1
BUSINESS SEGMENT INFORMATION - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 03, 2026
Mar. 28, 2025
Disaggregation of Revenue [Line Items]    
Revenue $ 5,744 $ 5,132
Intersegment    
Disaggregation of Revenue [Line Items]    
Revenue (91) (74)
Operating segments    
Disaggregation of Revenue [Line Items]    
Revenue 5,744 4,986
SMS | United States    
Disaggregation of Revenue [Line Items]    
Revenue 2,540 2,028
SMS | International    
Disaggregation of Revenue [Line Items]    
Revenue 427 357
SMS | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 1,910 1,658
SMS | Cost-type    
Disaggregation of Revenue [Line Items]    
Revenue 1,057 727
SMS | Intersegment    
Disaggregation of Revenue [Line Items]    
Revenue (23) (26)
SMS | Operating segments    
Disaggregation of Revenue [Line Items]    
Revenue 2,990 2,411
CSD | United States    
Disaggregation of Revenue [Line Items]    
Revenue 1,037 1,091
CSD | International    
Disaggregation of Revenue [Line Items]    
Revenue 761 689
CSD | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 1,520 1,493
CSD | Cost-type    
Disaggregation of Revenue [Line Items]    
Revenue 278 287
CSD | Intersegment    
Disaggregation of Revenue [Line Items]    
Revenue (57) (29)
CSD | Operating segments    
Disaggregation of Revenue [Line Items]    
Revenue 1,855 1,809
MSL | United States    
Disaggregation of Revenue [Line Items]    
Revenue 874 795
MSL | International    
Disaggregation of Revenue [Line Items]    
Revenue 105 27
MSL | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 643 505
MSL | Cost-type    
Disaggregation of Revenue [Line Items]    
Revenue 336 317
MSL | Intersegment    
Disaggregation of Revenue [Line Items]    
Revenue (11) (18)
MSL | Operating segments    
Disaggregation of Revenue [Line Items]    
Revenue 990 840
Other | United States    
Disaggregation of Revenue [Line Items]    
Revenue   61
Other | International    
Disaggregation of Revenue [Line Items]    
Revenue   84
Other | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue   145
Other | Cost-type    
Disaggregation of Revenue [Line Items]    
Revenue   0
Other | Intersegment    
Disaggregation of Revenue [Line Items]    
Revenue   (1)
Other | Operating segments    
Disaggregation of Revenue [Line Items]    
Revenue   146
Prime contractor | SMS    
Disaggregation of Revenue [Line Items]    
Revenue 2,286 1,725
Prime contractor | CSD    
Disaggregation of Revenue [Line Items]    
Revenue 1,192 1,173
Prime contractor | MSL    
Disaggregation of Revenue [Line Items]    
Revenue 250 222
Prime contractor | Other    
Disaggregation of Revenue [Line Items]    
Revenue   72
Subcontractor | SMS    
Disaggregation of Revenue [Line Items]    
Revenue 681 660
Subcontractor | CSD    
Disaggregation of Revenue [Line Items]    
Revenue 606 607
Subcontractor | MSL    
Disaggregation of Revenue [Line Items]    
Revenue $ 729 600
Subcontractor | Other    
Disaggregation of Revenue [Line Items]    
Revenue   $ 73
v3.26.1
LEGAL PROCEEDINGS AND CONTINGENCIES (Details) - Various Environmental Matters - USD ($)
$ in Millions
Apr. 03, 2026
Jan. 02, 2026
Loss Contingencies [Line Items]    
Accrual for environmental loss contingencies $ 657 $ 659
Recoverable environmental remediation costs $ 482 $ 483
v3.26.1
SUBSEQUENT EVENTS (Details) - Subsequent Event
$ in Billions
Apr. 17, 2026
USD ($)
Subsequent Event [Line Items]  
Expected proceeds from issuance of warrants and preferred stock $ 1.0
Conversion price available to investor, as a percentage of price available to public upon IPO 80.00%
Percentage of common stock available to purchase with warrants upon IPO 3.00%
Warrant exercise price, as a percentage of IPO price 110.00%
IPO Company | United States Department of War  
Subsequent Event [Line Items]  
Expected ownership percentage after IPO 10.00%