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Acquisitions, Goodwill and Intangible Assets (Tables)
 3 Months Ended
Apr. 03, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Preliminary Fair Values of the Assets Acquired and Liabilities Assumed at the Acquisition
The preliminary fair values of the assets acquired and liabilities assumed at the Acquisition Date were as follows (in millions):
Cash and cash equivalents$47 
Receivables, net162 
Other current assets19 
Property, plant and equipment, net
12 
Intangible assets, net564 
Operating lease right-of-use assets, net
23 
Other long-term assets1 
Deferred tax liabilities
(75)
Accounts payable and accrued liabilities(74)
Accrued payroll and employee benefits(21)
Operating lease liabilities(21)
Total identifiable net assets acquired637 
Goodwill1,748 
Purchase price$2,385 
Schedule of Preliminary Fair Value of Intangible Assets Acquire Weighted Average Amortization
The following table summarizes the preliminary fair value of intangible assets acquired at the Acquisition Date and the related weighted average amortization period:
Weighted Amortization Period Fair Value
(in years)
(in millions)
Programs 7$530 
Backlog134 
Total$564 
Schedule of Pro Forma Information The pro forma information is not intended to reflect the actual results of operations that would have occurred if the acquisition had been completed on January 4, 2025, nor is it intended to be an indication of future operating results.
Three Months Ended
(in millions, except per share amounts)April 3,
2026		April 4,
2025
Revenues$4,528 $4,385 
Net income347 332 
Net income attributable to Leidos common stockholders340 330 
Earnings per share:
Basic$2.69 $2.54 
Diluted2.65 2.52 
Schedule of Intangible Assets Acquired and Weighted Average Amortization Period
The following table summarizes the final fair value of intangible assets acquired at the Purchase Date and the related weighted average amortization period:
Weighted Amortization Period Fair Value
(in years)
(in millions)
Programs 7$60 
Backlog112 
Total$72 
Schedule of Carrying Amount of Goodwill by Reportable Segment
The following table presents changes in the carrying amount of goodwill by reportable segment:
(in millions)
Intelligence & Digital
Health
Homeland
Defense
Total
Goodwill at January 3, 2025(1)
$2,007 $1,336 $950 $1,791 $6,084 
Acquisition of a business
231 — — — 231 
Divestiture of a business
— — (7)— (7)
Foreign currency translation adjustments— — 34 — 34 
Goodwill at January 2, 2026(1)
2,238 1,336 977 1,791 6,342 
Acquisition of a business— — 1,748 — 1,748 
Foreign currency translation adjustments— — 4 — 4 
Goodwill at April 3, 2026(1)
$2,238 $1,336 $2,729 $1,791 $8,094 
(1) Carrying amount includes accumulated impairment loss of $596 million within the Homeland segment.
Schedule of Intangible Assets
Intangible assets, net consisted of the following:
April 3, 2026January 2, 2026
(in millions)Gross carrying valueAccumulated amortizationNet carrying valueGross carrying valueAccumulated amortizationNet carrying value
Programs
$2,279 $(1,413)$866 $1,748 $(1,391)$357 
Software and technology
264 (191)73 264 (187)77 
Backlog
46 (10)36 12 (7)5 
Customer relationships
53 (35)18 53 (34)19 
Total intangible assets
$2,642 $(1,649)$993 $2,077 $(1,619)$458 
Schedule of Estimated Annual Amortization Expense
The estimated annual amortization expense as of April 3, 2026, was as follows:
Fiscal year ending (in millions)
2026 (remainder of year)$166 
2027169 
2028152 
2029139 
2030126 
2031 and thereafter241 
$993