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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 28, 2024
Accounting Policies [Abstract] |
Schedule of Changes in Estimates on Contracts | Changes in estimates on contracts were as follows:
|  | Three Months Ended |  | Six Months Ended
|  | June 28, 2024 |  | June 30, 2023 |  | June 28, 2024 |  | June 30, 2023
|  | (in millions, except per share data)
Favorable impact |  | $ | 42 |  |  | $ | 40 |  |  | $ | 67 |  |  | $ | 62 |
Unfavorable impact |  | (54) |  |  | (22) |  |  | (79) |  |  | (38) |
Net impact to income before income taxes |  | $ | (12) |  |  | $ | 18 |  |  | $ | (12) |  |  | $ | 24 |
Impact on diluted EPS attributable to Leidos common stockholders |  | $ | (0.07) |  |  | $ | 0.10 |  |  | $ | (0.06) |  |  | $ | 0.13 |

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- Definition Tabular disclosure of the change in an accounting estimate, including a change that occurs in an interim period. If a change in accounting estimate affects several future periods (for example, a change in the service life of a depreciable asset) disclose the effect on income from continuing operations, net income (or other appropriate captions of changes in the applicable net assets or performance indicator), and any related per-share amounts of the current period. Disclosure of the effects of a change in an accounting estimate that occurs in the ordinary course of business (such as uncollectible accounts or inventory obsolescence) is not required, unless the effect is material. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482989/270-10-45-14 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-4 + Details
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