XML 29 R12.htm IDEA: XBRL DOCUMENT
v3.21.1

Restructuring and Other Exit Costs | 3 Months Ended
--- | ---
Apr. 02, 2021
Restructuring and Related Activities [Abstract] |
Restructuring and Other Exit Costs | Note D — Restructuring and Other Exit Costs We record charges for restructuring and other exit activities related to sales or terminations of product lines, closures or relocations of business activities, changes in management structure and fundamental reorganizations that affect the nature and focus of operations. Such charges include termination benefits, contract termination costs and costs to consolidate facilities or relocate employees. We record these charges at their fair value when incurred. In cases where employees are required to render service until they are terminated in order to receive the termination benefits and will be retained beyond the minimum retention period, we record the expense ratably over the future service period. These charges are included as a component of the “Engineering, selling and administrative expenses” line item in our Condensed Consolidated Statement of Income (Unaudited). L3Harris Merger-Related Restructuring Costs. We recorded restructuring charges in connection with the L3Harris Merger of $10 million during fiscal 2020 and $117 million during the two quarters ended January 3, 2020. At April 2, 2021, we had liabilities of $17 million associated with these restructuring actions. We expect that the majority of the remaining liabilities as of April 2, 2021 will be paid in the next twelve months. COVID-Related Restructuring Costs. During fiscal 2020, we recorded $15 million of restructuring charges for workforce reductions, including severance and other employee-related exit costs, within our Aviation Systems segment associated with the COVID-related downturn in our Commercial Aviation Solutions sector and its impact on global air traffic and customer operations, including $3 million recorded in the quarter ended April 3, 2020. At April 2, 2021, we had liabilities of $7 million associated with these restructuring actions. We expect that the majority of the remaining liabilities as of April 2, 2021 will be paid in the next twelve months. Our liabilities for restructuring and other exit costs are included in the “Compensation and benefits,” “Other accrued items” and “Other long-term liabilities” line items in our Condensed Consolidated Balance Sheet (Unaudited). Changes to our liabilities for restructuring and other exit costs during the quarter ended April 2, 2021 were as follows:
| (In millions) |  |  |  |
Balance at January 1, 2021 | $ | 34 |  |  |  |  |
Payments | (10) |  |  |  |  |
Balance at April 2, 2021 | $ | 24 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration