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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 03, 2025

Accounting Policies [Abstract]

Schedule of Changes in Estimates on Contracts for the Periods Presented

Changes in estimates on contracts for the periods presented were as follows:

						Year Ended
(in millions, except for per share amounts)						January 3, 2025						December 29, 2023						December 30, 2022
Favorable impact						$	184					$	140					$	146
Unfavorable impact						(153)						(100)						(113)
Net favorable impact to income before income taxes						$	31					$	40					$	33
Impact on diluted EPS attributable to Leidos common stockholders						$	0.17					$	0.22					$	0.17

Schedule of Finite-Lived Intangible Assets

Intangible assets with finite lives are amortized over the following periods:

						Estimated useful lives (in years)
Software and technology						3-15
Programs						4-13
Customer relationships						8-10

Schedule of Depreciation Using Estimated Useful Lives

Depreciation is recognized using the methods and estimated useful lives as follows:

Depreciation method

Estimated useful lives (in years)

Computers and other equipment

Straight-line or declining-balance

2-15

Buildings

Straight-line

Not to exceed 40

Building improvements and leasehold improvements

Straight-line

Shorter of useful life of asset or remaining lease term

Vehicles and transportation equipment

Straight-line

3-15

Office furniture and fixtures

Straight-line or declining-balance

6-9

Property, plant and equipment, net consisted of the following:

(in millions)						January 3, 2025						December 29, 2023
Computers and other equipment						$	473					$	455
Leasehold improvements						567						455
Vehicles and transportation equipment						321						277
Buildings and improvements						137						137
Office furniture and fixtures						78						66
Land						17						17
Construction-in-progress						107						172
						1,700						1,579
Less: accumulated depreciation and amortization						(709)						(618)
						$	991					$	961

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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