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Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

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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- References

No definition available.

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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

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