L3 Technologies (LLL) annual income statement covering fiscal 2014 through 2018, as reported to the SEC.
Revenue has shrunk 1.7% a year on average since fiscal 2014, from $10.99B to $10.24B.
An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.
| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales: | ||||||||||||||||||||
Revenue, Net | ||||||||||||||||||||
10,244 | 9,573 | 9,210 | 9,231 | 10,986 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Revenue, Net | 10,244 | 9,573 | 9,210 | 9,231 | 10,986 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating costs and expenses: | ||||||||||||||||||||
General and administrative expenses | ||||||||||||||||||||
1,601 | 1,520 | 1,287 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
General and administrative expenses | 1,601 | 1,520 | 1,287 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating Costs and Expenses | ||||||||||||||||||||
9,138 | 8,542 | 8,252 | 8,342 | 9,974 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating Costs and Expenses | 9,138 | 8,542 | 8,252 | 8,342 | 9,974 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Merger, acquisition and divestiture related expenses and losses | ||||||||||||||||||||
28 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Merger, acquisition and divestiture related expenses and losses | 28 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill impairment charge | ||||||||||||||||||||
- | - | - | 46 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill impairment charge | - | - | - | 46 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain (Loss) on Disposition of Business | ||||||||||||||||||||
42 | - | - | -31 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain (Loss) on Disposition of Business | 42 | - | - | -31 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating Income (Loss) | ||||||||||||||||||||
1,120 | 1,031 | 958 | 812 | 1,012 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating Income (Loss) | 1,120 | 1,031 | 958 | 812 | 1,012 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest expense | ||||||||||||||||||||
-164 | -169 | -164 | -162 | -158 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest expense | -164 | -169 | -164 | -162 | -158 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest and other income, net | ||||||||||||||||||||
37 | 9 | 17 | -10 | 18 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest and other income, net | 37 | 9 | 17 | -10 | 18 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Gain (Loss) on Extinguishment of Debt | ||||||||||||||||||||
-69 | - | -7 | -1 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Gain (Loss) on Extinguishment of Debt | -69 | - | -7 | -1 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income from continuing operations before income taxes | ||||||||||||||||||||
924 | 871 | 804 | 639 | 872 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income from continuing operations before income taxes | 924 | 871 | 804 | 639 | 872 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income Tax Expense (Benefit) | ||||||||||||||||||||
103 | 102 | 171 | 132 | 227 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income Tax Expense (Benefit) | 103 | 102 | 171 | 132 | 227 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income from continuing operations | ||||||||||||||||||||
821 | 769 | 633 | 507 | 645 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income from continuing operations | 821 | 769 | 633 | 507 | 645 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||||||||||||||||||
205 | -76 | 91 | -732 | 32 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 205 | -76 | 91 | -732 | 32 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||||||||||||||
1,026 | 693 | 724 | -225 | 677 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,026 | 693 | 724 | -225 | 677 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest | ||||||||||||||||||||
21 | 16 | 14 | 15 | 13 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest | 21 | 16 | 14 | 15 | 13 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net income attributable to L3 | ||||||||||||||||||||
1,005 | 677 | 710 | -240 | 664 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income attributable to L3 | 1,005 | 677 | 710 | -240 | 664 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Earnings Per Share [Abstract] | ||||||||||||||||||||
Earnings Per Share, Basic [Abstract] | ||||||||||||||||||||
Continuing operations (in dollars per share) | ||||||||||||||||||||
10.19 | 9.65 | 7.99 | 6.10 | 7.40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Continuing operations (in dollars per share) | 10.19 | 9.65 | 7.99 | 6.10 | 7.40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | ||||||||||||||||||||
2.61 | -0.97 | 1.18 | -9.07 | 0.38 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | 2.61 | -0.97 | 1.18 | -9.07 | 0.38 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Basic earnings per share (in dollars per share) | ||||||||||||||||||||
12.80 | 8.68 | 9.17 | -2.97 | 7.78 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Basic earnings per share (in dollars per share) | 12.80 | 8.68 | 9.17 | -2.97 | 7.78 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Earnings Per Share, Diluted [Abstract] | ||||||||||||||||||||
Continuing operations (in dollars per share) | ||||||||||||||||||||
10.05 | 9.46 | 7.86 | 6.01 | 7.20 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Continuing operations (in dollars per share) | 10.05 | 9.46 | 7.86 | 6.01 | 7.20 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | ||||||||||||||||||||
2.58 | -0.95 | 1.15 | -8.94 | 0.36 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | 2.58 | -0.95 | 1.15 | -8.94 | 0.36 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Earnings Per Share, Diluted | ||||||||||||||||||||
12.63 | 8.51 | 9.01 | -2.93 | 7.56 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Earnings Per Share, Diluted | 12.63 | 8.51 | 9.01 | -2.93 | 7.56 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash dividends declared per common share (in dollars per share) | ||||||||||||||||||||
3.20 | 3.00 | 2.80 | 2.60 | 2.40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash dividends declared per common share (in dollars per share) | 3.20 | 3.00 | 2.80 | 2.60 | 2.40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Weighted average common shares outstanding: | ||||||||||||||||||||
Weighted Average Number of Shares Outstanding, Basic | ||||||||||||||||||||
78 | 78 | 77 | 80 | 85 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Weighted Average Number of Shares Outstanding, Basic | 78 | 78 | 77 | 80 | 85 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Weighted Average Number of Shares Outstanding, Diluted | ||||||||||||||||||||
79 | 79 | 78 | 81 | 87 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Weighted Average Number of Shares Outstanding, Diluted | 79 | 79 | 78 | 81 | 87 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Product [Member] | ||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | ||||||||||||||||||||
7,165 | 6,733 | 6,453 | 6,600 | 6,839 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 7,165 | 6,733 | 6,453 | 6,600 | 6,839 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cost of Goods and services sold | ||||||||||||||||||||
5,345 | 4,967 | 4,879 | 6,016 | 6,161 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cost of Goods and services sold | 5,345 | 4,967 | 4,879 | 6,016 | 6,161 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Service [Member] | ||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | ||||||||||||||||||||
3,079 | 2,840 | 2,757 | 2,631 | 4,147 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,079 | 2,840 | 2,757 | 2,631 | 4,147 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cost of Goods and services sold | ||||||||||||||||||||
2,192 | 2,055 | 2,086 | 2,326 | 3,813 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cost of Goods and services sold | 2,192 | 2,055 | 2,086 | 2,326 | 3,813 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||