L3Harris (LHX) 10-KT 3 Mar 20 2020 FY Annual report (with FYE transition) Financial data

COVER PAGE

COVER PAGE - USD ($)	6 Months Ended
	Jan. 03, 2020	Feb. 28, 2020	Jun. 28, 2019
Cover page.
Document Type	10-KT
Document Annual Report	false
Document Period End Date	Jan. 3, 2020
Document Transition Report	true
Entity File Number	1-3863
Entity Registrant Name	L3HARRIS TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-0276860
Entity Address, Address Line One	1025 West NASA Boulevard
Entity Address, City or Town	Melbourne,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32919
City Area Code	321
Local Phone Number	727-9100
Entity Well-known Seasoned Issuer	Yes
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	LHX
Security Exchange Name	NYSE
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 22,330,592,127
Entity Common Stock, Shares Outstanding		216,896,195
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for the 2020 Annual Meeting of Shareholders scheduled to be held on April 24, 2020 , which will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s Fiscal Transition Period, are incorporated by reference into Part III of this Transition Report on Form 10-KT to the extent described therein.
Entity Central Index Key	0000202058
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--01-03
Document Period Start Date	Jun. 29, 2019

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Revenue from product sales and services
Revenue	$ 9,263	$ 6,801	$ 6,168	$ 5,897
Cost of product sales and services
Cost of revenue	(6,726)	(4,467)	(4,066)	(3,854)
Engineering, selling and administrative expenses	(1,927)	(1,242)	(1,182)	(1,150)
Gain on sale of business	229	0	0	0
Non-operating income	192	188	156	166
Interest income	12	2	2	2
Interest expense	(135)	(169)	(170)	(172)
Income from continuing operations before income taxes	908	1,113	908	889
Income taxes	(73)	(160)	(206)	(261)
Income from continuing operations	835	953	702	628
Discontinued operations, net of income taxes	(1)	(4)	(3)	(85)
Net income	834	949	699	543
Noncontrolling interests, net of income taxes	(12)	0	0	0
Net income attributable to L3Harris Technologies, Inc.	822	949	699	543
Amount attributable to L3Harris Technologies, Inc. common shareholders
Income from continuing operations	823	953	702	628
Discontinued operations, net of income taxes	$ (1)	$ (4)	$ (3)	$ (85)
Basic
Continuing operations (in dollars per share)	$ 3.72	$ 8.06	$ 5.90	$ 5.11
Discontinued operations (in dollars per share)	0	(0.03)	(0.02)	(0.69)
Total basic net income per common share (in dollars per share)	3.72	8.03	5.88	4.42
Diluted
Continuing operations (in dollars per share)	3.68	7.89	5.78	5.04
Discontinued operations (in dollars per share)	(0.01)	(0.03)	(0.02)	(0.68)
Diluted (in dollars per share)	$ 3.67	$ 7.86	$ 5.76	$ 4.36
Product
Revenue from product sales and services
Revenue	$ 6,908	$ 5,638	$ 5,038	$ 4,667
Cost of product sales and services
Cost of revenue	(4,996)	(3,615)	(3,239)	(3,058)
Services
Revenue from product sales and services
Revenue	2,355	1,163	1,130	1,230
Cost of product sales and services
Cost of revenue	$ (1,730)	$ (852)	$ (827)	$ (796)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 834	$ 949	$ 699	$ 543
Other comprehensive income (loss):
Foreign currency translation gain (loss), net of income taxes	25	(7)	15	(34)
Net unrealized gain (loss) on hedging derivatives, net of income taxes	(17)	(18)	1	1
Net unrecognized gain (loss) on postretirement obligations, net of income taxes	178	(480)	93	200
Other comprehensive income (loss), net of income taxes	186	(505)	109	167
Total comprehensive income	1,020	444	808	710
Comprehensive income attributable to noncontrolling interests	(12)	0	0	0
Total comprehensive income attributable to L3Harris Technologies, Inc.	$ 1,008	$ 444	$ 808	$ 710

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Current Assets
Cash and cash equivalents	$ 824	$ 530	$ 288
Receivables	1,216	457	466
Contract assets	2,459	807	782
Inventories	1,219	360	411
Income taxes receivable	202	191	174
Other current assets	392	100	103
Assets of disposal group held for sale	0	133	0
Total current assets	6,312	2,578	2,224
Non-current Assets
Property, plant and equipment	2,117	894	900
Operating lease right-of-use assets	837
Goodwill	20,001	5,340	5,372
Other intangible assets	8,458	870	989
Deferred income taxes	102	173	119
Other non-current assets	509	262	247
Total non-current assets	32,024	7,539	7,627
Total assets	38,336	10,117	9,851
Current Liabilities
Short-term debt	3	103	78
Accounts payable	1,261	525	622
Contract liabilities	1,214	496	372
Compensation and benefits	460	161	142
Other accrued items	790	283	317
Income taxes payable	24	8	15
Current portion of long-term debt, net	257	656	304
Liabilities of disposal group held for sale	0	36	0
Total current liabilities	4,009	2,268	1,850
Non-current Liabilities
Defined benefit plans	1,819	1,174	714
Operating lease liabilities	781
Long-term debt, net	6,694	2,763	3,408
Deferred income taxes	1,481	12	79
Other long-term liabilities	808	537	522
Total non-current liabilities	11,583	4,486	4,723
Shareholders’ Equity:
Preferred stock, without par value; 1,000,000 shares authorized; none issued	0	0	0
Common stock, $1.00 par value; 500,000,000 shares authorized; issued and outstanding 218,226,614, 118,552,599 and 118,280,120 shares at January 3, 2020, June 28, 2019 and June 29, 2018, respectively	218	119	118
Other capital	20,694	1,778	1,714
Retained earnings	2,183	2,173	1,648
Accumulated other comprehensive loss	(508)	(707)	(202)
Total shareholders’ equity	22,587	3,363	3,278
Noncontrolling interests	157	0	0
Total equity	22,744	3,363	3,278
Total liabilities and equity	$ 38,336	$ 10,117	$ 9,851

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Shareholders’ Equity:
Preferred shares, authorized (in shares)	1,000,000	1,000,000	1,000,000
Preferred shares, issued (in shares)	0	0	0
Common shares, par value (in dollars per share)	$ 1	$ 1	$ 1
Common shares, authorized (in shares)	500,000,000	500,000,000	500,000,000
Common shares, issued (in shares)	218,226,614	118,552,599	118,280,120
Common shares, outstanding (in shares)	218,226,614	118,552,599	118,280,120

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Operating Activities
Net income	$ 834	$ 949	$ 699	$ 543
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	442	258	259	311
Share-based compensation	227	141	82	42
Qualified pension plan contributions	(328)	(1)	(301)	(589)
Pension and other postretirement benefit plan income	(129)	(150)	(144)	(105)
Gain on pension plan curtailment	(23)	0	0	0
Impairment of goodwill and other assets	46	0	0	240
(Gain) loss on sale of businesses, net	(229)	0	0	14
Gain on sale of asset group	(12)	0	0	0
Loss on extinguishment of debt	2	0	24	0
Deferred income taxes	0	44	320	86
(Increase) decrease in:
Accounts receivable	74	(9)	(101)	24
Contract assets	15	(25)	(76)	156
Inventories	158	(1)	(19)	(32)
Increase (decrease) in:
Accounts payable	(148)	(84)	82	18
Contract liabilities	0	124	81	(31)
Compensation and benefits	(28)	19	2	(37)
Other accrued items	(128)	(78)	(38)	(76)
Income taxes	47	(23)	(117)	26
Other	119	21	(2)	(21)
Net cash provided by operating activities	939	1,185	751	569
Investing Activities
Net cash acquired in L3Harris Merger	1,130	0	0	0
Net additions of property, plant and equipment	(173)	(161)	(136)	(119)
Proceeds from sales of businesses, net	343	0	0	1,014
Adjustment to proceeds from sale of business	0	0	(2)	(25)
Proceeds from sale of asset group	20	0	0	0
Other investing activities	0	2	(3)	0
Net cash provided by (used in) investing activities	1,320	(159)	(141)	870
Financing Activities
Net proceeds from borrowings	396	27	1,387	85
Repayments of borrowings	(505)	(308)	(1,658)	(584)
Proceeds from exercises of employee stock options	109	50	34	54
Repurchases of common stock	(1,500)	(200)	(272)	(710)
Cash dividends	(337)	(325)	(272)	(262)
Distributions to noncontrolling interests	(10)	0	0	0
Tax withholding payments associated with vested share-based awards	(86)	(24)	(17)	(21)
Other financing activities	(38)	(1)	(7)	0
Net cash used in financing activities	(1,971)	(781)	(805)	(1,438)
Effect of exchange rate changes on cash and cash equivalents	6	(3)	(1)	(4)
Net increase (decrease) in cash and cash equivalents	294	242	(196)	(3)
Cash and cash equivalents, beginning of period	530	288	484	487
Cash and cash equivalents, end of period	$ 824	$ 530	$ 288	$ 484

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions	Total	Common Stock	Other Capital	Retained Earnings	Accumulated Other Comprehensive Income	Noncontrolling Interests
Beginning balance at Jul. 01, 2016	$ 3,057	$ 125	$ 2,096	$ 1,330	$ (495)	$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	543			543
Other comprehensive income	167				167
Net accumulated foreign currency loss reclassified to earnings	52				52
Shares issued under stock incentive plans	54	1	53
Share-based compensation expense	40		40
Repurchases and retirement of common stock	(694)	(6)	(410)	(278)
Forward contract component of accelerated share repurchase	(38)		(38)
Cash dividends	(262)			(262)
Other activity related to noncontrolling interests	(1)					(1)
Ending balance at Jun. 30, 2017	2,903	120	1,741	1,318	(276)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassifications due to adoption of accounting standards updates	0			35	(35)
Net income	699			699
Other comprehensive income	109				109
Shares issued under stock incentive plans	33		33
Shares issued under defined contribution plans	31		31
Share-based compensation expense	49		49
Repurchases and retirement of common stock	(312)	(2)	(178)	(132)
Forward contract component of accelerated share repurchase	38		38
Cash dividends	(272)			(272)
Ending balance at Jun. 29, 2018	3,278	118	1,714	1,648	(202)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	949			949
Other comprehensive income	(505)				(505)
Shares issued under stock incentive plans	50	1	49
Shares issued under defined contribution plans	83	1	82
Share-based compensation expense	57		57
Repurchases and retirement of common stock	(224)	(1)	(124)	(99)
Cash dividends	(325)			(325)
Ending balance at Jun. 28, 2019	3,363	119	1,778	2,173	(707)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	834			822		12
Other comprehensive income	186				186
Shares issued for L3Harris Merger	19,800	104	19,696
Equity issuance costs	(2)		(2)
Net loss from postretirement obligations and hedging derivatives reclassified to earnings	13				13
Shares issued under stock incentive plans	109	2	107
Shares issued under defined contribution plans	101		101
Share-based compensation expense	122		122
Repurchases and retirement of common stock	(1,586)	(7)	(1,104)	(475)
Cash dividends	(337)			(337)
Distributions to noncontrolling interests	(10)					(10)
Fair value of noncontrolling interest recognized in purchase accounting	155					155
Other	(4)		(4)
Ending balance at Jan. 03, 2020	$ 22,744	$ 218	$ 20,694	$ 2,183	$ (508)	$ 157

CONSOLIDATED STATEMENT OF EQU_2

CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Retained Earnings
Cash dividends (in dollars per share)	$ 1.5	$ 2.74	$ 2.28	$ 2.12

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jan. 03, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1: SIGNIFICANT ACCOUNTING POLICIES Organization — L3Harris Technologies, Inc., together with its subsidiaries, is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. We provide advanced defense and commercial technologies across air, land, sea, space and cyber domains. We support government and commercial customers in 130 countries, with our largest customers being various departments and agencies of the U.S. Government and their prime contractors. Our products, systems and services have defense and civil government applications, as well as commercial applications. As of January 3, 2020 , we had approximately 50,000 employees, including approximately 20,000 engineers and scientists. Principles of Consolidation — Our Consolidated Financial Statements include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these Notes to Consolidated Financial Statements (these “Notes”), the terms “L3Harris,” “Company,” “we,” “our” and “us” refer to L3Harris Technologies, Inc. and its consolidated subsidiaries. Intracompany transactions and accounts have been eliminated. On October 12, 2018, Harris Corporation, a Delaware corporation (“Harris”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with L3 Technologies, Inc., a Delaware corporation (“L3”), and Leopard Merger Sub Inc., a Delaware corporation and a newly formed, direct wholly owned subsidiary of Harris (“Merger Sub”), pursuant to which Harris and L3 agreed to combine their respective businesses in an all-stock merger, at the closing of which Merger Sub would merge with and into L3, with L3 continuing as the surviving corporation and a direct wholly-owned subsidiary of Harris (the “L3Harris Merger”). The closing of the L3Harris Merger occurred on June 29, 2019 (“Closing Date”), after the end of Harris’ fiscal 2019 on June 28, 2019. Upon completion of the L3Harris Merger, Harris was renamed “L3Harris Technologies, Inc.”, and each share of L3 common stock converted into the right to receive 1.30 shares (“Exchange Ratio”) of L3Harris common stock. Shares of L3Harris common stock, which previously traded under ticker symbol “HRS” on the New York Stock Exchange (“NYSE”) prior to completion of the L3Harris Merger, are traded under ticker symbol “LHX” following completion of the L3Harris Merger. L3Harris was owned on a fully diluted basis approximately 54 percent by Harris shareholders and 46 percent by L3 shareholders immediately following the completion of the L3Harris Merger. We are accounting for the L3Harris Merger under the acquisition method of accounting. Under the acquisition method of accounting, we are required to measure identifiable assets acquired, liabilities assumed and any noncontrolling interests in the acquiree at their fair values as of the Closing Date. The excess of the consideration transferred over those fair values is recorded as goodwill. See Note 5: Business Combination in these Notes for additional information related to the L3Harris Merger. We implemented a new organizational structure effective on June 29, 2019, which resulted in changes to our operating segments, which are also reportable segments and referred to as our business segments. The historical results, discussion and presentation of our business segments as set forth in the accompanying Consolidated Financial Statements and these Notes reflect the impact of these changes for all periods presented in order to present segment information on a comparable basis. There is no impact on our previously reported consolidated statements of income, balance sheets, statements of cash flows or statements of equity resulting from these changes. On September 13, 2019, we completed the sale of the Harris Night Vision business to Elbit Systems of America, LLC, a subsidiary of Elbit Systems Ltd., for $350 million (net cash proceeds of $343 million after selling costs and estimated purchase price adjustments), subject to final customary purchase price adjustments as set forth in the definitive agreement. The Harris Night Vision business was not included in any of the business segments in our new organizational structure and the operating results of the Harris Night Vision business through the date of the divestiture are discussed and presented as part of “Other non-reportable business segments” in this Report. See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for more information regarding the divestiture of the Harris Night Vision business. Amounts contained in this Report may not always add to totals due to rounding. Fiscal Year — This Transition Report on Form 10-KT covers the transition period from June 29, 2019 through January 3, 2020 (“Fiscal Transition Period”). Through fiscal 2019, our fiscal year ended on the Friday nearest June 30. Commencing with the Fiscal Transition Period, our fiscal year ends on the Friday nearest December 31. Our Fiscal Transition Period included 27 weeks and each of our fiscal years ended June 28, 2019 , June 29, 2018 and June 30, 2017 included 52 weeks. Prior year financial information comparable to the Fiscal Transition Period for the two quarters ended December 28, 2018 represent the unaudited prior two quarters period results for the comparative period ended December 28, 2018 , which included 26 weeks. See Note 27: Transition Period Comparative Data (Unaudited) in these Notes for additional information. Use of Estimates — The preparation of financial statements in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in the accompanying Consolidated Financial Statements and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Consolidated Financial Statements and these Notes. Materially different results can occur as circumstances change and additional information becomes known. Cash and Cash Equivalents — Cash equivalents are temporary cash investments with a maturity of three or fewer months when purchased. These investments include accrued interest and are carried at the lower of cost or market. Fair Value of Financial Instruments — The carrying amounts reflected in our Consolidated Balance Sheet for cash and cash equivalents, accounts receivable, non-current receivables, notes receivable, accounts payable, short-term debt and long-term variable-rate debt approximate their fair values. Fair values for long-term fixed-rate debt are primarily based on quoted market prices for those or similar instruments. See Note 14: Debt in these Notes for additional information regarding fair values for our long-term fixed-rate debt. A discussion of fair values for our derivative financial instruments is included under the caption “Financial Instruments and Risk Management” in this Note 1: Significant Accounting Policies . Fair Value Measurements — Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal market (or most advantageous market, in the absence of a principal market) for the asset or liability in an orderly transaction between market participants at the measurement date. Entities are required to maximize the use of observable inputs and minimize the use of unobservable inputs in measuring fair value, and to utilize a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of inputs used to measure fair value are as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included within Level 1, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs other than quoted prices that are observable or are derived principally from, or corroborated by, observable market data by correlation or other means. • Level 3 — Unobservable inputs that are supported by little or no market activity, are significant to the fair value of the assets or liabilities, and reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability developed using the best information available in the circumstances. In certain instances, fair value is estimated using quoted market prices obtained from external pricing services. In obtaining such data from the pricing service, we have evaluated the methodologies used to develop the estimate of fair value in order to assess whether such valuations are representative of fair value, including net asset value (“NAV”). Additionally, in certain circumstances, the NAV reported by an asset manager may be adjusted when sufficient evidence indicates NAV is not representative of fair value. Accounts Receivable — We record receivables at net realizable value and they generally do not bear interest. This value includes an allowance for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances which is charged to the provision for doubtful accounts. We calculate this allowance based on our history of write-offs, level of past due accounts and economic status of the customers. We consider a receivable delinquent if it is unpaid after the term of the related invoice has expired. Write-offs are recorded at the time a customer receivable is deemed uncollectible. See Note 6: Receivables in these Notes for additional information regarding accounts receivable. Contract Assets and Liabilities — The timing of revenue recognition, customer billings and cash collections results in accounts receivable, contract assets and contract liabilities at the end of each reporting period. Contract assets include unbilled amounts typically resulting from revenue recognized exceeding amounts billed to customers for contracts utilizing the percentage of completion (“POC”) cost-to-cost revenue recognition method. We bill customers as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals, upon achievement of contractual milestones or upon deliveries and, in certain arrangements, the customer may withhold payment of a small portion of the contract price until contract completion. Contract liabilities include advance payments and billings in excess of revenue recognized, including deferred revenue. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. The non-current portion of contract liabilities is included within the “Other long-term liabilities” line item in our Consolidated Balance Sheet. Contract assets related to amounts withheld by customers until contract completion are not considered a significant financing component of our contracts because the intent is to protect the customers from our failure to satisfactorily complete our performance obligations. Payments received from customers in advance of revenue recognition are not considered a significant financing component of our contracts because they are utilized to pay for contract costs within a one -year period or are requested by us to ensure the customers meet their payment obligations. See Note 7: Contract Assets and Contract Liabilities in these Notes for additional information. Inventories — Inventories are valued at the lower of cost (determined by average and first-in, first-out methods) or net realizable value. We regularly review inventory quantities on hand and record a provision for excess and obsolete inventory primarily based on our estimated forecast of product demand, anticipated end of product life and production requirements. See Note 8: Inventories in these Notes for additional information regarding inventories. Costs to Obtain or Fulfill a Contract — Costs to obtain a contract are incremental direct costs incurred to obtain a contract with a customer, including sales commissions and dealer fees, and are capitalized if material. Costs to fulfill a contract include costs directly related to a contract or specific anticipated contract (for example, mobilization, set-up and certain design costs) that generate or enhance our ability to satisfy our performance obligations under these contracts. These costs are capitalized to the extent they are expected to be recovered from the associated contract. Capitalized costs to obtain or fulfill a contract are amortized to expense over the expected period of benefit for contracts with terms greater than one year on a systematic basis that is consistent with the pattern of transfer of the associated goods and services to the customer. As a practical expedient, capitalized costs to obtain or fulfill a contract with a term of one year or less are expensed as incurred. As of January 3, 2020 , “Other current assets” and “Other non-current assets” in our Consolidated Balance Sheet included $14 million and $48 million , respectively, of capitalized costs to obtain or fulfill a contract. Capitalized costs to obtain or fulfill a contract were not material as of June 28, 2019 . Property, Plant and Equipment — Property, plant and equipment are carried on the basis of cost and include software capitalized for internal use. Depreciation of buildings, machinery and equipment is computed by the straight-line and accelerated methods. The estimated useful lives of buildings, including leasehold improvements, generally range between 2 and 45 years. The estimated useful lives of machinery and equipment generally range between 2 and 10 years. Amortization of internal-use software begins when the software is put into service and is based on the expected useful life of the software. The useful lives over which we amortize internal-use software generally range between 3 and 10 years. See Note 9: Property, Plant and Equipment in these Notes for additional information regarding property, plant and equipment. Goodwill — We follow the acquisition method of accounting to record the assets and liabilities of acquired businesses at their estimated fair value at the date of acquisition. We initially record goodwill for the amount the consideration transferred exceeds the acquisition-date fair value of net identifiable assets acquired. We test goodwill for impairment at a level within the Company referred to as the reporting unit, which is our business segment level or one level below the business segment. We test our goodwill for impairment annually, or under certain circumstances, more frequently, such as when events or circumstances indicate there may be impairment. Such events or circumstances may include a significant deterioration in overall economic conditions, changes in the business climate of our industry, a decline in our market capitalization, operating performance indicators, competition, reorganizations of our business or the disposal of all or a portion of a reporting unit. We perform an annual impairment review of our goodwill as of the first day of our fourth fiscal quarter of each year, and more frequently if we believe indicators of impairment exist. Following our fiscal year end change, we made a corresponding change to our annual impairment assessment date and will continue to perform annual impairment review on the first day of our fourth quarter, which for the Fiscal Transition Period was September 28, 2019 (the first day of the last quarter of the Fiscal Transition Period). To test goodwill for impairment, we may perform both qualitative and quantitative assessments. If we elect to perform a qualitative assessment for a certain reporting unit, we evaluate events and circumstances impacting the reporting unit to determine the probability that goodwill is impaired. If we determine it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, we measure any loss from an impairment by comparing the fair value of each reporting unit to its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, goodwill is considered impaired, and an impairment loss is recognized in an amount equal to that excess. See Note 3: Divestitures, Asset Sales and Discontinued Operations , Note 5: Business Combination and Note 10: Goodwill in these Notes for additional information regarding goodwill. Long-Lived Assets, Including Intangible Assets — Long-lived assets, including finite-lived intangible assets, are amortized to expense over their useful lives either according to the underlying economic benefit as reflected by future net cash inflows or on a straight-line basis depending on the nature of the asset. We assess the recoverability of the carrying value of our long-lived assets, including finite-lived intangible assets, whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. We evaluate the recoverability of such assets based on the expectations of undiscounted cash flows from such assets. If the sum of the expected future undiscounted cash flows were less than the carrying amount of the asset, a loss would be recognized for the difference between the fair value and the carrying amount. Indefinite-lived intangible assets are not amortized, but are tested annually for impairment. This testing compares the fair value of the asset to its carrying amount, and, when appropriate, the carrying amount of these assets is reduced to its fair value. See Note 9: Property, Plant and Equipment and Note 11: Intangible Assets in these Notes for additional information regarding long-lived assets and intangible assets. Other Assets and Liabilities — No assets within the “Other current assets” or “Other non-current assets” line items in our Consolidated Balance Sheet exceeded 5 percent of our total current assets or total assets, respectively, at January 3, 2020 , June 28, 2019 or June 29, 2018 . No accrued liabilities or expenses within the “Other accrued items” or “Other long-term liabilities” line items in our Consolidated Balance Sheet exceeded 5 percent of our total current liabilities or total liabilities, respectively, at January 3, 2020 , June 28, 2019 or June 29, 2018 . Income Taxes — We follow the liability method of accounting for income taxes. We record the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in our Consolidated Balance Sheet, as well as operating loss and tax credit carryforwards. We follow very specific and detailed guidelines in each tax jurisdiction regarding the recoverability of any tax assets recorded on the balance sheet and provide necessary valuation allowances as required. We regularly review our deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing temporary differences and tax planning strategies. See Note 23: Income Taxes in these Notes for additional information regarding income taxes. Standard Warranties — We record estimated standard warranty costs in the period in which the related products are delivered. Factors that affect the estimated cost for warranties include the terms of the contract, the type and complexity of the delivered product, number of installed units, historical experience and management’s assumptions regarding anticipated rates of warranty claims and cost per claim. Our standard warranties start from the shipment, delivery or customer acceptance date and continue as follows: Segment Average Warranty Period Integrated Mission Systems One to three years Space and Airborne Systems One to three years Communication Systems One to five years Aviation Systems One to two years Because our products are manufactured, in many cases, to customer specifications and their acceptance is based on meeting those specifications, we historically have experienced minimal warranty costs. Factors that affect our warranty liability include the number of installed units, historical experience, anticipated delays in delivery of products to end customers, in-country support for international sales and our assumptions regarding anticipated rates of warranty claims and cost per claim. We assess the adequacy of our recorded warranty liabilities every quarter and make adjustments to the liability as necessary. See Note 12: Accrued Warranties in these Notes for additional information regarding warranties. Foreign Currency Translation — The functional currency for most international subsidiaries is the local currency. Assets and liabilities are translated at current rates of exchange and income and expense items are translated at the weighted average exchange rate for the year. The resulting translation adjustments are recorded as a separate component of shareholders’ equity. Stock Options and Other Share-Based Compensation — We measure compensation cost for all share-based payments (including employee stock options) at fair value and recognize cost over the vesting period, with forfeitures recognized as they occur. It is our practice to issue shares when options are exercised. See Note 16: Stock Options and Other Share-Based Compensation in these Notes for additional information regarding share-based compensation. Restructuring and Other Exit Costs — We record restructuring and other exit costs at their fair value when incurred. In cases where employees are required to render service until they are terminated in order to receive the termination benefits and will be retained beyond the minimum retention period, we record the expense ratably over the future service period. These costs are included as a component of the “Cost of product sales and services” and “Engineering, selling and administrative expenses” line items in our Consolidated Statement of Income. See Note 4: Restructuring and Other Exit Costs in these Notes for additional information regarding restructuring and other exit costs. Revenue Recognition — We account for a contract when it has approval and commitment from all parties, the rights and payment terms of the parties can be identified, the contract has commercial substance and the collectibility of the consideration, or transaction price, is probable. Our contracts are often subsequently modified to include changes in specifications, requirements or price that may create new or change existing enforceable rights and obligations. We do not account for contract modifications (including unexercised options) or follow-on contracts until they meet the requirements noted above to account for a contract. At the inception of each contract, we evaluate the promised goods and services to determine whether the contract should be accounted for as having one or more performance obligations. A performance obligation is a promise to transfer a distinct good or service to a customer and represents the unit of accounting for revenue recognition. A substantial majority of our revenue is derived from long-term development and production contracts involving the design, development, manufacture or modification of aerospace and defense products and related services according to the customers’ specifications. Due to the highly interdependent and interrelated nature of the underlying goods and services and the significant service of integration that we provide, which often result in the delivery of multiple units, we account for these contracts as one performance obligation. For contracts that include both development/production and follow-on support services (for example, operations and maintenance), we generally consider the follow-on services distinct in the context of the contract and account for them as separate performance obligations. Additionally, a significant amount of our revenue is derived from contracts to provide multiple distinct goods to a customer where the goods can readily be sold to other customers based on their commercial nature and, accordingly, these goods are accounted for as separate performance obligations. Shipping and handling costs incurred after control of a product has transferred to the customer (for example, in free on board shipping arrangements) are treated as fulfillment costs and, therefore, are not accounted for as separate performance obligations. Also, we record taxes collected from customers and remitted to governmental authorities on a net basis in that they are excluded from revenue. As discussed above, our contracts are often subsequently modified to include changes in specifications, requirements or price. Depending on the nature of the modification, we consider whether to account for the modification as an adjustment to the existing contract or as a separate contract. Often, the deliverables in our contract modifications are not distinct from the existing contract due to the significant integration and interrelated tasks provided in the context of the contract. Therefore, such modifications are accounted for as if they were part of the existing contract, and we may be required to recognize a cumulative catch-up adjustment to revenue at the date of the contract modification. We determine the transaction price for each contract based on our best estimate of the consideration we expect to receive, which includes assumptions regarding variable consideration, such as award and incentive fees. These variable amounts are generally awarded upon achievement of certain negotiated performance metrics, program milestones or cost targets and can be based upon customer discretion. We include such estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. We estimate variable consideration primarily using the most likely amount method. For contracts with multiple performance obligations, we allocate the transaction price to each performance obligation based on the relative standalone selling price of the good or service underlying each performance obligation. The standalone selling price represents the amount for which we would sell the good or service to a customer on a standalone basis (i.e., not sold as a bundle with any other products or services). Our contracts with the U.S. Government, including foreign military sales contracts, are subject to the Federal Acquisition Regulations (“FAR”) and the prices of our contract deliverables are typically based on our estimated or actual costs plus a reasonable profit margin. As a result, the standalone selling prices of the goods and services in these contracts are typically equal to the selling prices stated in the contract, thereby, eliminating the need to allocate (or reallocate) the transaction price to the multiple performance obligations. In our non-U.S. Government contracts, we also generally use the expected cost plus a reasonable profit margin approach to determine standalone selling price. In addition, we determine standalone selling price for certain contracts that are commercial in nature based on observable selling prices. We recognize revenue for each performance obligation when (or as) the performance obligation is satisfied by transferring control of the promised goods or services underlying the performance obligation to the customer. The transfer of control can occur over time or at a point in time. Point in Time Revenue Recognition: Our performance obligations are satisfied at a point in time unless they meet at least one of the following criteria, in which case they are satisfied over time: • The customer simultaneously receives and consumes the benefits provided by our performance as we perform; • Our performance creates or enhances an asset (for example, work in process) that the customer controls as the asset is created or enhanced; or • Our performance does not create an asset with an alternative use to us, and we have an enforceable right to payment for performance completed to date. As noted above, a significant amount of our revenue is derived from contracts to provide multiple distinct goods to a customer that are commercial in nature and can readily be sold to other customers. These performance obligations do not meet any of the three criteria listed above to recognize revenue over time; therefore, we recognize revenue at a point in time, generally when the goods are received and accepted by the customer. Over Time Revenue Recognition: For U.S. Government development and production contracts, there is a continuous transfer of control of the asset to the customer as it is being produced based on FAR clauses in the contract that provide the customer with lien rights to work in process and allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. This also typically applies to our contracts with prime contractors for U.S. Government development and production contracts, when the above-described FAR clauses are flowed down to us by the prime contractors. Our non-U.S. Government development and production contracts, including international direct commercial contracts and U.S. contracts with state and local agencies, utilities and commercial and transportation organizations, often do not include the FAR clauses described above. However, over time revenue recognition is typically supported either through our performance creating or enhancing an asset that the customer controls as it is created or enhanced or based on other contractual provisions or relevant laws that provide us with an enforceable right to payment for our work performed to date plus a reasonable profit if our customer were permitted to and did terminate the contract for reasons other than our failure to perform as promised. Revenue for our development and production contracts is recognized over time, typically using the POC cost-to-cost method, whereby we measure our progress towards completion of the performance obligation based on the ratio of costs incurred to date to estimated costs at completion under the contract. Because costs incurred represent work performed, we believe this method best depicts transfer of control of the asset to the customer. For performance obligations to provide services that are satisfied over time, we recognize revenue either on a straight-line basis, the POC cost-to-cost method, or based on the right-to-invoice method (i.e., based on our right to bill the customer), depending on which method best depicts transfer of control to the customer. Contract Estimates: Under the POC cost-to-cost method of revenue recognition, a single estimated profit margin is used to recognize profit for each performance obligation over its period of performance. Recognition of profit on a contract requires estimates of the total cost at completion and transaction price and the measurement of progress towards completion. Due to the long-term nature of many of our contracts, developing the estimated total cost at completion and total transaction price often requires judgment. Factors that must be considered in estimating the cost of the work to be completed include the nature and complexity of the work to be performed, subcontractor performance and the risk and impact of delayed performance. Factors that must be considered in estimating the total transaction price include contractual cost or performance incentives (such as incentive fees, award fees and penalties) and other forms of variable consideration as well as our historical experience and our expectation for performance on the contract. At the outset of each contract, we gauge its complexity and perceived risks and establish an estimated total cost at completion in line with these expectations. After establishing the estimated total cost at completion, we follow a standard Estimate at Completion (“EAC”) process in which we review the progress and performance on our ongoing contracts at least quarterly and, in many cases, more frequently. If we successfully retire risks associated with the technical, schedule and cost aspects of a contract, we may lower our estimated total cost at completion commensurate with the retirement of these risks. Conversely, if we are not successful in retiring these risks, we may increase our estimated total cost at completion. Additionally, as the contract progresses, our estimates of total trans

ACCOUNTING CHANGES OR RECENT AC

ACCOUNTING CHANGES OR RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jan. 03, 2020
Accounting Changes and Error Corrections [Abstract]
ACCOUNTING CHANGES OR RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 2: ACCOUNTING CHANGES OR RECENT ACCOUNTING PRONOUNCEMENTS Adoption of New Accounting Standards Leases Effective June 29, 2019, we adopted Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), as amended (“ASC 842”) using the optional transition method. We initially applied ASC 842 for leases existing as of June 29, 2019 and recognized $270 million of right-of-use (“ROU”) assets and $289 million of lease liabilities in our Consolidated Balance Sheet. See Note 5: Business Combination in these Notes for ROU assets and lease liabilities assumed as part of the L3Harris Merger. In accordance with ASC 842, we recognized ROU assets and lease liabilities in our balance sheet for operating and finance leases under which we are the lessee, except for equipment leases and, as permitted by a practical expedient under ASC 842, leases with a term of 12 months or less. Equipment leases were not material at January 3, 2020 and June 29, 2019 . We also elected the package of practical expedients permitted under ASC 842 and did not reassess lease classification for existing or expired leases, whether expired or existing contracts contain a lease under the new definition of a lease or whether previously capitalized initial direct costs would qualify for capitalization under ASC 842. Operating lease assets are classified as operating ROU assets, operating lease liabilities for obligations due within 12 months are classified as other accrued items and operating lease liabilities for obligations due longer than 12 months are classified as other long-term liabilities. Finance lease assets are classified as property, plant and equipment. Finance lease liabilities are classified as other accrued items or other long-term debt, net depending on when the obligation is due. ROU assets and lease liabilities are recognized based on the present value of future lease payments. Lease payments primarily include base rent. We have some lease payments that are based on an index and changes to the index are treated as variable lease payments and recognized in the period in which the obligation for those payments is incurred. Our lease payments also include non-lease components such as real estate taxes and common-area maintenance costs. We elected the practical expedient to account for lease and non-lease components as a single component. In certain of our leases, the non-lease components are variable and are therefore excluded from lease payments to determine the ROU asset. The present value of future lease payments is determined using our incremental borrowing rate at lease commencement over the expected lease term. We use our incremental borrowing rate because our leases do not provide an implicit lease rate. The expected lease term represents the number of years we expect to lease the property, including options to extend or terminate the lease when it is reasonably certain that we will exercise the option. Operating lease expense is recognized as an operating cost on a straight-line basis over the expected lease term in our Consolidated Statement of Income. For finance leases, the ROU asset is amortized on a straight-line basis over the lease term, and interest on the lease liability is recognized in interest expense. The amortization of ROU assets for our finance leases and interest expense were not material for the two quarters ended January 3, 2020 . We are a lessor for certain arrangements for flight simulators. These leases meet the criteria for operating lease classification. Lease income associated with these leases was not material for the two quarters ended January 3, 2020 . The adoption of ASC 842 did not have a material effect on our results of operations or cash flows. Derivatives and Hedging Effective June 29, 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The amendments in this update are intended to better align companies’ risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedge relationships and the presentation of hedge results. The amendments in this update require companies to present the earnings effect of the hedging instrument in the same income statement line in which the earnings effect of the hedged item is reported. Prior to the adoption of this update, GAAP provided hedge accounting for only the portion of the hedge deemed to be highly effective and required companies to separately reflect the amount by which the hedging instrument did not offset the hedged item, which is referred to as the ineffective amount. The amendments in this update include, among other items, removal of the requirement that companies separately measure and recognize in earnings the ineffective amount for highly effective hedges. Adoption of this standard did not have a material effect on our financial condition, results of operations or cash flows.

DIVESTITURES, ASSET SALES AND D

DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS	6 Months Ended
	Jan. 03, 2020
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS	NOTE 3: DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS Divestitures Harris Night Vision. On September 13, 2019 , we completed the sale of the Harris Night Vision business, a global supplier of high-performance, vision-enhancing products for U.S. and allied military and security forces and commercial customers, for $350 million (net cash proceeds of $343 million after selling costs and estimated purchase price adjustments), subject to final customary purchase price adjustments pursuant to a definitive agreement we entered into on April 4, 2019 as part of the regulatory process in connection with the L3Harris Merger and recognized a pre-tax gain of $229 million . Through fiscal 2019, the Harris Night Vision business was reported as part of our former Communication Systems segment. As a result of the then-pending divestiture, the Harris Night Vision business was not included in any of our new business segments and, consequently, the operating results of the business are included in “Other non-reportable business segments” for the two quarters ended January 3, 2020 and fiscal 2019 , 2018 and 2017 in this Report. Income before income taxes for the Harris Night Vision business was not material for the two quarters ended January 3, 2020 and was $27 million , $20 million and $9 million for fiscal 2019 , 2018 and 2017 , respectively. The carrying amounts of the major classes of assets and liabilities of the Harris Night Vision business classified as held for sale at June 28, 2019 are summarized below: June 28, 2019 (In millions) Receivables $ 18 Inventories 52 Property, plant and equipment 29 Goodwill 30 Other intangible assets 4 Assets of disposal group held for sale $ 133 Accounts payable $ 13 Contract liabilities 1 Compensation and benefits 3 Other accrued items 3 Defined benefit plans 16 Liabilities of disposal group held for sale $ 36 Asset Sales Stormscope. On August 30, 2019 , we completed the sale of the Stormscope product line for $20 million in cash and recorded a pre-tax gain of $12 million in the “Engineering, selling and administrative expenses” line item of our Consolidated Statement of Income for the two quarters ended January 3, 2020 . Discontinued Operations We completed two significant divestitures during fiscal 2017 , the divestiture of our government information technology (“IT”) services business (“IT Services”) and the divestiture of our Harris CapRock Communications commercial business (“CapRock”), which are described in more detail below. These divestitures individually and collectively represented a strategic shift away from non-core markets (for example, energy, maritime and government IT services). The decision to divest these businesses was part of our strategy to simplify our operating model to focus on technology-differentiated, high-margin businesses, and had a major effect on our operations and financial results. As a result, IT Services and CapRock are reported as discontinued operations in the accompanying Consolidated Financial Statements and these Notes. Except for disclosures related to our cash flows, or unless otherwise specified, disclosures in the accompanying Consolidated Financial Statements and these Notes relate solely to our continuing operations. The major components of discontinued operations in our Consolidated Statement of Income included the following: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue from product sales and services $ — $ — $ — $ 1,039 Cost of product sales and services — — — (885 ) Engineering, selling and administrative expenses — — — (91 ) Impairment of goodwill and other assets — — — (240 ) Non-operating loss, net (1) (1 ) (5 ) (8 ) (7 ) Loss before income taxes (1 ) (5 ) (8 ) (184 ) Loss on sale of discontinued operations, net (2) — — — (11 ) Income tax benefit — 1 5 110 Discontinued operations, net of income taxes $ (1 ) $ (4 ) $ (3 ) $ (85 ) _______________ (1) “Non-operating loss, net” included a loss of $2 million in fiscal 2017 related to our former broadcast communications business (“Broadcast Communications”), which was divested in fiscal 2013. (2) “Loss on sale of discontinued operations, net” in fiscal 2017 included a $3 million decrease to the loss on the sale of Broadcast Communications. Depreciation and amortization, capital expenditures and significant non-cash items of discontinued operations included the following: Fiscal Year Ended June 30, 2017 (In millions) Depreciation and amortization $ 39 Capital expenditures 4 Significant non-cash items: Impairment of goodwill and other assets (240 ) Loss on sale of discontinued operations, net (11 ) IT Services On April 28, 2017, we completed the divestiture to an affiliate of Veritas Capital Fund Management, L.L.C. of IT Services, which primarily provided IT and engineering managed services to U.S. Government customers, for net cash proceeds of $646 million , and recognized a pre-tax loss of $28 million (an after-tax gain of $55 million after certain tax benefits related to the transaction or $.44 per diluted share) on the sale after transaction expenses. The decision to divest IT Services was part of our strategy to simplify our operating model to focus on technology-differentiated, high-margin businesses. Because the then-pending divestiture of IT Services represented the disposal of a portion of a reporting unit, we assigned $487 million of goodwill to the IT Services disposal group on a relative fair value basis during the third quarter of fiscal 2017, when the held for sale criteria were met. The fair value of the IT Services disposal group was determined based on the negotiated selling price, and the fair value of the retained businesses (which comprised the remaining portion of the reporting unit) was determined based on a combination of market-based valuation techniques, utilizing quoted market prices and comparable publicly reported transactions, and projected discounted cash flows. These fair value determinations are categorized as Level 3 in the fair value hierarchy due to their use of internal projections and unobservable measurement inputs. See Note 1: Significant Accounting Policies for additional information regarding the fair value hierarchy. In conjunction with the allocation, we tested goodwill assigned to the disposal group and goodwill allocated to the retained businesses for impairment. As a result, we concluded that goodwill and other assets related to IT Services were impaired as of March 31, 2017, and we recorded a non-cash impairment charge of $240 million in discontinued operations, $228 million of which related to goodwill. The goodwill impairment charge was non-deductible for tax purposes. The following table presents the key financial results of IT Services included in “Discontinued operations, net of income taxes” in our Consolidated Statement of Income: Fiscal Years Ended June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue from product sales and services $ — $ — $ 895 Cost of product sales and services — — (777 ) Engineering, selling and administrative expenses — — (68 ) Impairment of goodwill and other assets — — (240 ) Non-operating loss (1 ) (4 ) (9 ) Loss before income taxes (1 ) (4 ) (199 ) Loss on sale of discontinued operations, net — — (28 ) Income tax benefit — 5 69 Discontinued operations, net of income taxes $ (1 ) $ 1 $ (158 ) CapRock On January 1, 2017, we completed the divestiture to SpeedCast International Ltd. of CapRock, which provided wireless, terrestrial and satellite communications services to energy and maritime customers, for net cash proceeds of $368 million , and recognized a pre-tax gain of $14 million ( $61 million after certain tax benefits related to the transaction, including reversal of valuation allowances on capital losses and net operating losses, or $.49 per diluted share) on the sale after transaction expenses and purchase adjustments in respect of net cash and net working capital as set forth in the definitive sales agreement entered into on November 1, 2016. The following table presents the key financial results of CapRock included in “Discontinued operations, net of income taxes” included in our Consolidated Statement of Income: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue from product sales and services $ — $ — $ — $ 144 Cost of product sales and services — — — (108 ) Engineering, selling and administrative expenses — — — (23 ) Non-operating income (loss) (1 ) (3 ) (4 ) 4 Income (loss) before income taxes (1 ) (3 ) (4 ) 17 Gain on sale of discontinued operations — — — 14 Income tax benefit — 1 — 41 Discontinued operations, net of income taxes $ (1 ) $ (2 ) $ (4 ) $ 72

RESTRUCTURING AND OTHER EXIT CO

RESTRUCTURING AND OTHER EXIT COSTS	6 Months Ended
	Jan. 03, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER EXIT COSTS	NOTE 4: RESTRUCTURING AND OTHER EXIT COSTS We record charges for restructuring and other exit activities related to sales or terminations of product lines, closures or relocations of business activities, changes in management structure, and fundamental reorganizations that affect the nature and focus of operations. Such charges include termination benefits, contract termination costs and costs to consolidate facilities or relocate employees. We record termination benefits and contract termination costs at their fair value when incurred. In cases where employees are required to render service until they are terminated in order to receive the termination benefits and will be retained beyond the minimum retention period, we record the expense ratably over the future service period. These charges are included as a component of the “Engineering, selling and administrative expenses” line item in our Consolidated Statement of Income. L3Harris Merger-Related Restructuring Costs During the two quarters ended January 3, 2020 , we recorded $117 million of restructuring costs for workforce reductions (including severance and other employee-related exit costs) in connection with the L3Harris Merger. At January 3, 2020 , we had liabilities of $58 million associated with these restructuring activities, of which we expect substantially all will be paid in the next twelve months. During the quarter ended January 3, 2020, we finalized our plan to close L3’s former headquarters offices located at 600 Third Avenue in New York City. On December 3, 2019, we entered into an amended lease agreement with the landlord, which reduced the number of leased floors from six to five effective October 1, 2020 through the expiration of the lease on October 31, 2031. We plan to fully exit the remaining floors during 2020 and sublease the space over the remaining lease term. During the quarter ended January 3, 2020, we recorded a $2 million lease modification and a $46 million impairment charge for ROU and other assets in connection with the termination of the lease. Previous Restructuring and other Exit Costs In fiscal 2018 and 2017 , we recorded $5 million and $58 million , respectively, for integration and other costs in connection with our acquisition of Exelis Inc., which we acquired in fiscal 2015 (“Exelis”). We had liabilities of $16 million and $27 million as of the end of fiscal 2019 and 2018, respectively, associated with these integration activities and previous restructuring actions. The majority of the remaining liabilities as of January 3, 2020 represent lease obligations associated with exited facilities with remaining terms of four years or less. In fiscal 2018 , we also recorded $45 million of charges in connection with our decision to transition and exit a commercial line of business that had been developing an air-to-ground radio access network for the business aviation market based on the Long Term Evolution (“LTE”) standard operating in the unlicensed spectrum. We had a liability of $18 million at June 29, 2018 associated with this exit activity, which was paid on July 2, 2018. Our liabilities for restructuring and other exit costs are included in the “Other accrued items” and “Other long-term liabilities” line items in our Consolidated Balance Sheet. Changes to our restructuring and other exit costs liabilities during the two quarters ended January 3, 2020 and fiscal 2019 and 2018 were as follows: Employee severance-related costs Facilities consolidation and other exit costs (1) Total (In millions) Balance at June 30, 2017 $ 12 $ 31 $ 43 Additional provisions 1 50 51 Payments (9 ) (38 ) (47 ) Other (2 ) — (2 ) Balance at June 29, 2018 2 43 45 Payments (2 ) (27 ) (29 ) Balance at June 28, 2019 — 16 16 Additional provisions 117 — 117 Payments (62 ) (1 ) (63 ) Other 3 (8 ) (5 ) Balance at January 3, 2020 $ 58 $ 7 $ 65 _______________ (1) Excludes our operating lease liability related to L3’s former headquarter offices.

BUSINESS COMBINIATION

BUSINESS COMBINIATION	6 Months Ended
	Jan. 03, 2020
Business Combinations [Abstract]
BUSINESS COMBINATION	NOTE 5: BUSINESS COMBINATION On October 12, 2018, Harris entered into the Merger Agreement with L3 and Merger Sub, pursuant to which Harris and L3 agreed to combine their respective businesses in an all-stock merger, at the closing of which Merger Sub would merge with and into L3, with L3 continuing as the surviving corporation and a direct wholly-owned subsidiary of Harris. The closing of the L3Harris Merger occurred on June 29, 2019 , the first day of our Fiscal Transition Period. Upon completion of the L3Harris Merger, Harris was renamed “L3Harris Technologies, Inc.” and each share of L3 common stock converted into the right to receive 1.30 shares of L3Harris common stock. L3Harris was owned on a fully diluted basis approximately 54 percent by Harris shareholders and 46 percent by L3 shareholders immediately following the completion of the L3Harris Merger. L3 was a prime contractor in intelligence, surveillance and reconnaissance (“ISR”) systems, aircraft sustainment (including modifications and fleet management of special mission aircraft), simulation and training, night vision and image intensification equipment, and security and detection systems. L3 also was a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 employed approximately 31,000 employees and its customers included the U.S. Department of Defense and its prime contractors, the U.S. Intelligence Community, the U.S. Department of Homeland Security, foreign governments and domestic and foreign commercial customers. L3 generated calendar 2018 revenue of approximately $10 billion . Following the completion of the L3Harris Merger, we issued 104 million shares of L3Harris common stock to L3 shareholders. The trading price of L3Harris common stock was $189.13 per share as of the Closing Date. In addition to shares of our common stock issued to L3 shareholders, replacement L3Harris share-based awards were issued for certain outstanding L3 share-based awards. We are accounting for the L3Harris Merger under the acquisition method of accounting. Under the acquisition method of accounting, we are required to measure identifiable assets acquired, liabilities assumed and any noncontrolling interests in the acquiree at their fair values as of the Closing Date. Due to the timing of the L3Harris Merger relative to its size and complexity, certain aspects of our accounting for the L3Harris Merger remain preliminary, including the acquisition-date fair value of identifiable assets acquired and certain liabilities assumed. Amounts recorded associated with these assets and liabilities are based on preliminary calculations and our estimates and assumptions are subject to change as we obtain additional information during the measurement period (up to one year from the Closing Date). As of January 3, 2020, we have completed our determination of the fair value of consideration transferred as well as defined benefit plan liabilities and long-term debt assumed. Our calculation of consideration transferred is as follows: (In millions, except exchange ratio and per share amounts) June 29, 2019 Outstanding shares of L3 common stock as of June 28, 2019 79.63 L3 restricted stock unit awards settled in shares of L3Harris common stock 0.41 L3 performance unit awards settled in shares of L3Harris common stock 0.04 80.08 Exchange Ratio 1.30 Shares of L3Harris common stock issued for L3 outstanding common stock 104.10 Price per share of L3Harris common stock as of June 28, 2019 $ 189.13 Fair value of L3Harris common stock issued for L3 outstanding common stock $ 19,689 Fair value of replacement RSUs attributable to merger consideration 10 Fair value of L3Harris stock options issued for L3 outstanding stock options 101 Withholding tax liability incurred for converted L3 share-based awards 45 Fair value of replacement award consideration 156 Fair value of total consideration 19,845 Less cash acquired (1,195 ) Total net consideration transferred $ 18,650 Our preliminary measurement of assets acquired, liabilities assumed and noncontrolling interests as of the Closing Date and measurement period adjustments during the two quarters ended January 3, 2020 , are as follows: Preliminary Fair Value Measurement Period Adjustments Adjusted Fair Value (In millions) Receivables $ 849 $ (15 ) $ 834 Contract assets 1,708 (41 ) 1,667 Inventories 1,056 (37 ) 1,019 Other current assets 517 (20 ) 497 Property, plant and equipment 1,176 39 1,215 Operating lease right-of-use assets 704 — 704 Goodwill 15,423 (774 ) 14,649 Other intangible assets 6,768 1,109 7,877 Other non-current assets 327 (6 ) 321 Total assets acquired $ 28,528 $ 255 $ 28,783 Accounts payable $ 898 $ (14 ) $ 884 Contract liabilities 722 (4 ) 718 Other current liabilities 772 60 832 Operating lease liabilities 715 — 715 Defined benefit plans 1,411 — 1,411 Long-term debt, net 3,548 — 3,548 Other long-term liabilities 1,661 209 1,870 Total liabilities assumed 9,727 251 9,978 Net assets acquired 18,801 4 18,805 Noncontrolling interests (151 ) (4 ) (155 ) Total net consideration transferred $ 18,650 $ — $ 18,650 The goodwill resulting from the L3Harris Merger was primarily associated with L3’s market presence and leading positions, growth opportunities in the markets in which L3 businesses operate, experienced work force and established operating infrastructures. Most of the goodwill related to the L3Harris Merger is nondeductible for tax purposes. See Note 10: Goodwill in these Notes for more information regarding the preliminary allocation of goodwill by business segment. The following table provides further detail of the fair value and weighted-average amortization period of identified intangible assets acquired by major intangible asset class: Weighted Average Amortization Period Total (In years) (In millions) Identifiable intangible assets acquired: Customer relationships (Government) 15 $ 4,677 Customer relationships (Commercial) 15 643 Trade names — Divisions 9 123 Developed technology 7 562 Total identifiable intangible assets subject to amortization 14 6,005 Trade names — Corporate indefinite 1,803 In-process research and development n/a 69 Total identifiable intangible assets $ 7,877 Merger-Related Charges During the two quarters ended January 3, 2020 , we recorded $532 million of L3Harris Merger-related charges, consisting of restructuring, integration, transaction and other costs as follows: • $142 million of additional cost of sales related to the fair value step-up in inventory sold; • $117 million of costs for workforce reductions, including severance and other employee-related exit costs; • $83 million of transaction costs, recognized as incurred; • $72 million of integration costs, recognized as incurred; • $70 million of equity award acceleration charges, recognized upon change in control; and • $48 million of facility consolidation costs. See Note 4: Restructuring and Other Exit Costs in these Notes for additional information regarding severance and facility consolidation costs. Because the L3Harris Merger benefited the entire Company as opposed to any individual business segment, the above costs were not allocated to any business segment. All of the costs above were recorded in the “Engineering, selling and administrative expenses” line item in our Consolidated Statement of Income, except for the $142 million of additional cost of sales related to the fair value step-up in inventory sold, which is included in the “Cost of product sales and services” line item in our Consolidated Statement of Income. Pro Forma Results The following summary, prepared on a pro forma basis, presents our unaudited consolidated results of operations for the comparable period ended December 28, 2018 as if the L3Harris Merger had been completed on June 29, 2018, the beginning of the comparable period ended December 28, 2018 , after including any post-merger adjustments directly attributable to the L3Harris Merger, such as the sale of the Harris Night Vision business, and after including the impact of adjustments such as amortization of intangible assets as well as the related income tax effects. This pro forma presentation does not include any impact of transaction synergies. The pro forma results are not necessarily indicative of our results of operations that actually would have been obtained had the L3Harris Merger been completed on the assumed date or for the period presented, or which may be realized in the future. Two Quarters Ended December 28, 2018 (In millions) Revenue from product sales and services — as reported $ 3,208 Revenue from product sales and services — pro forma $ 8,404 Income from continuing operations — as reported $ 441 Income from continuing operations — pro forma $ 760 For the two quarters ended January 3, 2020 , our Consolidated Statement of Income includes the results of L3 operating businesses from the Closing Date, with total revenue of approximately $5.7 billion (net of intercompany sales between L3 operating businesses) and income from continuing operations before income taxes of approximately $0.4 billion (including $142 million of additional cost of sales related to the fair value step-up in inventory sold and $108 million

RECEIVABLES

RECEIVABLES	6 Months Ended
	Jan. 03, 2020
Receivables [Abstract]
RECEIVABLES	NOTE 6: RECEIVABLES Receivables are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Accounts receivable $ 1,228 $ 459 $ 468 Less allowances for collection losses (12 ) (2 ) (2 ) $ 1,216 $ 457 $ 466 We have a receivables sale agreement (“RSA”) with a third-party financial institution that permits us to sell, on a nonrecourse basis, up to $100 million of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSA, which we continue to service and collect on behalf of the third-party financial institution. Receivables sold pursuant to the RSA meet the requirements for sales accounting under Accounting Standards Codification 860, Transfers and Servicing , and accordingly, are derecognized from our Consolidated Balance Sheet at the time of sale. Outstanding accounts receivable sold pursuant to the RSA were not material at January 3, 2020 , June 28, 2019 or June 29, 2018 .

CONTRACT ASSETS AND CONTRACT LI

CONTRACT ASSETS AND CONTRACT LIABILITIES	6 Months Ended
	Jan. 03, 2020
Revenue from Contract with Customer [Abstract]
CONTRACT ASSETS AND CONTRACT LIABILITIES	NOTE 7: CONTRACT ASSETS AND CONTRACT LIABILITIES Contract assets include unbilled amounts typically resulting from revenue recognized exceeding amounts billed to customers for contracts utilizing the POC cost-to-cost revenue recognition method. We bill customers as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals, upon achievement of contractual milestones or upon deliveries and, in certain arrangements, the customer may withhold payment of a small portion of the contract price until contract completion. Contract liabilities include advance payments and billings in excess of revenue recognized, including deferred revenue associated with extended product warranties. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. The increase in contract assets and contract liabilities in the two quarters ended January 3, 2020 was primarily due to contract assets and liabilities acquired in connection with the L3Harris Merger. Changes in contract asset and contract liability balances in the two quarters ended January 3, 2020 were not materially impacted by any factors other than those described above. Contract assets and contract liabilities are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Contract assets $ 2,459 $ 807 $ 782 Contract liabilities, current (1,214 ) (496 ) (372 ) Contract liabilities, noncurrent (1) (87 ) (42 ) (35 ) Net contract assets $ 1,158 $ 269 $ 375 _______________ (1) The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Consolidated Balance Sheet. The components of contract assets are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Unbilled contract receivables, gross $ 3,690 $ 916 $ 881 Progress payments (1,231 ) (109 ) (99 ) $ 2,459 $ 807 $ 782 Impairment losses related to our contract assets were not material during the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 . In the two quarters ended January 3, 2020 , we recognized $776 million of revenue related to contract liabilities that were outstanding at the end of fiscal 2019. In fiscal 2019 , 2018 and 2017 , we recognized $287 million , $204 million and $221 million , respectively , NOTE 24: BACKLOG Backlog, which is the equivalent of our remaining performance obligations, represents the future revenue we expect to recognize as we perform on our current contracts. Backlog comprises both funded backlog (i.e., firm orders for which funding is authorized and appropriated) and unfunded backlog. Backlog excludes unexercised contract options and potential orders under ordering-type contracts, such as IDIQ contracts. At January 3, 2020 , our ending backlog was $20.6 billion . We expect to recognize approximately 60 percent of the revenue associated with this backlog within the next twelve months and the substantial majority of the revenue associated with this backlog within the next three years . At June 28, 2019 , our ending backlog was $8.3 billion , at which time we expected to recognize approximately half of the revenue associated with this backlog within the next twelve months and the substantial majority of the revenue associated with this backlog within the next three years

INVENTORIES

INVENTORIES	6 Months Ended
	Jan. 03, 2020
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 8: INVENTORIES Inventories are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Finished products $ 216 $ 77 $ 91 Work in process 386 90 121 Raw materials and supplies 617 193 199 $ 1,219 $ 360 $ 411

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jan. 03, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 9: PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Land $ 90 $ 40 $ 43 Software capitalized for internal use 287 187 171 Buildings 1,073 631 620 Machinery and equipment 2,194 1,429 1,349 3,644 2,287 2,183 Less accumulated depreciation and amortization (1,527 ) (1,393 ) (1,283 ) $ 2,117 $ 894 $ 900 Depreciation and amortization expense related to property, plant and equipment was $157 million in the two quarters ended January 3, 2020 . Depreciation and amortization expense related to property, plant and equipment was $138 million , $143 million and $147 million in fiscal 2019 , 2018 and 2017 , respectively.

GOODWILL

GOODWILL	6 Months Ended
	Jan. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	NOTE 10: GOODWILL As discussed in Note 25: Business Segments in these Notes, after the completion of the L3Harris Merger, we adjusted our segment reporting to reflect our new organizational structure effective June 29, 2019. Because our accounting for the L3Harris Merger is still preliminary, we assigned goodwill acquired on a provisional basis. Immediately before and after our goodwill assignments, we completed an assessment of any potential goodwill impairment under our former and new segment reporting structure and determined that no impairment existed. The assignment of goodwill by business segment, and changes in the carrying amount of goodwill for the two quarters ended January 3, 2020 , and fiscal 2019 and 2018 were as follows: Integrated Mission Systems Space and Airborne Systems Communication Systems Aviation Systems Other non-reportable business segments Total (In millions) Balance at June 30, 2017 $ 64 $ 3,733 $ 927 $ 612 $ 30 $ 5,366 Currency translation adjustments — 6 — — — 6 Balance at June 29, 2018 64 3,739 927 612 30 5,372 Currency translation adjustments — (2 ) — — — (2 ) Decrease from reclassification to assets of disposal group held for sale (1) — — — — (30 ) (30 ) Balance at June 28, 2019 64 3,737 927 612 — 5,340 Goodwill acquired 5,704 1,390 3,316 4,239 — 14,649 Currency translation adjustments 1 4 — 7 — 12 Balance at January 3, 2020 $ 5,768 $ 5,131 $ 4,243 $ 4,859 $ — $ 20,001 _______________ (1) In the fourth quarter of fiscal 2019, in connection with our then-pending divestiture of the Harris Night Vision business, which was reported as part of our former Communication Systems segment, we assigned $30 million of goodwill to the Harris Night Vision business on a relative fair value basis, because the divestiture of the Harris Night Vision business represented the disposal of a portion of a reporting unit. The Harris Night Vision business’ assets, including assigned goodwill, are presented as “Assets of disposal group held for sale” in our Consolidated Balance Sheet as of June 28, 2019 . We completed the sale of the Harris Night Vision business on September 13, 2019. As a result, the goodwill assigned to the Harris Night Vision business was not allocated to any of our new business segments, and, consequently, it is included in “Other non-reportable business segments” in the table above. See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for additional information regarding the sale of the Harris Night Vision business.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jan. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 11: INTANGIBLE ASSETS The most significant identifiable intangible asset that is separately recognized for our business combinations is customer relationships. Our customer relationships are established through written customer contracts (revenue arrangements). The fair value for customer relationships is determined, as of the date of acquisition, based on estimates and judgments regarding expectations for the estimated future after-tax earnings and cash flows arising from the follow-on sales expected from the customer relationships over the estimated lives, including the probability of expected future contract renewals and sales, less a contributory assets charge, all of which is discounted to present value. We assess the recoverability of the carrying value of our finite-lived intangible assets whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. We assess the recoverability of the carrying value of indefinite-lived intangible assets annually, or under certain circumstances more frequently, such as when events and circumstances indicate there may be an impairment. Intangible assets are summarized below: January 3, 2020 Gross Carrying Amount Accumulated Amortization Net (In millions) Customer relationships $ 6,518 $ 653 $ 5,865 Developed technologies 768 183 585 Trade names 165 35 130 Other 10 4 6 Total intangible assets subject to amortization 7,461 875 6,586 IPR&D 69 — 69 L3 trade name 1,803 — 1,803 Total intangible assets $ 9,333 $ 875 $ 8,458 June 28, 2019 Gross Carrying Amount Accumulated Amortization Net (In millions) Customer relationships $ 1,203 $ 419 $ 784 Developed technologies 206 136 70 Trade names 42 26 16 Other 2 2 — Total intangible assets $ 1,453 $ 583 $ 870 June 29, 2018 Gross Carrying Amount Accumulated Amortization Net (In millions) Customer relationships $ 1,206 $ 327 $ 879 Developed technologies 208 119 89 Trade names 43 22 21 Other 2 2 — Total intangible assets $ 1,459 $ 470 $ 989 Amortization expense related to intangible assets was $290 million for the two quarters ended January 3, 2020 and primarily related to the L3Harris Merger and our acquisition of Exelis. Amortization expense related to intangible assets was $115 million , $117 million and $126 million in fiscal 2019 , 2018 and 2017 , respectively, and primarily related to our acquisition of Exelis. Future estimated amortization expense for intangible assets is as follows: (In millions) 2020 $ 711 2021 632 2022 617 2023 596 2024 568 Thereafter 3,462 Total $ 6,586

ACCRUED WARRENTIES

ACCRUED WARRENTIES	6 Months Ended
	Jan. 03, 2020
Product Warranties Disclosures [Abstract]
ACCRUED WARRANTIES	NOTE 12: ACCRUED WARRANTIES Our liability for standard product warranties is included as a component of the “Other accrued items” and “Other long-term liabilities” line items in our Consolidated Balance Sheet. Changes in our liability for standard product warranties during the two quarters ended January 3, 2020 , and fiscal 2019 and 2018 , were as follows: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Balance at the beginning of the period $ 25 $ 24 $ 26 Acquisitions during the period 83 — — Accruals for product warranties issued during the period 23 16 13 Settlements made during the period (23 ) (11 ) (14 ) Other, including adjustments for divestitures and foreign currency translation 4 (4 ) (1 ) Balance at the end of the period $ 112 $ 25 $ 24

CREDIT ARRANGEMENTS

CREDIT ARRANGEMENTS	6 Months Ended
	Jan. 03, 2020
Line of Credit Facility [Abstract]
CREDIT ARRANGEMENTS	NOTE 13: CREDIT ARRANGEMENTS On June 28, 2019, we established a new $2 billion , 5 -year senior unsecured revolving credit facility (the “ 2019 Credit Facility ”) by entering into a Revolving Credit Agreement (the “ 2019 Credit Agreement ”) with a syndicate of lenders. The 2019 Credit Facility replaced our prior $1 billion , 5 -year senior unsecured revolving credit facility established under the Revolving Credit Agreement, dated as of June 26, 2018 (the “ 2018 Credit Agreement ”). No loans or letters of credit under the 2018 Credit Agreement were outstanding at the time of, or were repaid in connection with, such termination, and we incurred no early termination penalties as a result of such termination. The 2019 Credit Agreement provides for the extension of credit to us in the form of revolving loans, including swingline loans and letters of credit, at any time and from time to time during the term of the 2019 Credit Agreement , in an aggregate principal amount at any time outstanding not to exceed $2 billion for both revolving loans and letters of credit, with a sub-limit of $140 million for swingline loans and a sub-limit of $350 million for letters of credit. Borrowings under the 2019 Credit Agreement may be denominated in U.S. Dollars, Euros, Sterling and any other currency acceptable to the administrative agent and the lenders, with a foreign currency sub-limit of $400 million . The 2019 Credit Agreement includes a provision pursuant to which, from time to time, we may request that the lenders in their discretion increase the maximum amount of commitments under the 2019 Credit Agreement by an amount not to exceed $1 billion . Only consenting lenders (including new lenders reasonably acceptable to the administrative agent) will participate in any increase. In no event will the maximum amount of credit extensions available under the 2019 Credit Agreement exceed $3 billion . The proceeds of loans or letters of credit borrowings under the 2019 Credit Agreement are restricted from being used for hostile acquisitions (as defined in the 2019 Credit Agreement ) or for any purpose in contravention of applicable laws. We are not otherwise restricted under the 2019 Credit Agreement from using the proceeds of loans or letters of credit borrowings under the 2019 Credit Agreement for working capital and other general corporate purposes or from using the 2019 Credit Facility to refinance existing debt and to repay maturing commercial paper issued by us from time to time. Subject to certain conditions stated in the 2019 Credit Agreement (including the absence of any default and the accuracy of certain representations and warranties), we may borrow, prepay and re-borrow amounts under the 2019 Credit Agreement at any time during the term of the 2019 Credit Agreement . The 2019 Credit Agreement provides that we may designate wholly-owned subsidiaries organized in the United States, Canada or the United Kingdom (or such other jurisdictions as all lenders shall approve) as borrowers under the 2019 Credit Agreement . The obligations of any such subsidiary borrower shall be guaranteed by us. The 2019 Credit Agreement provides that we may from time to time designate certain of our subsidiaries as unrestricted subsidiaries, which means certain of the representations and covenants in the 2019 Credit Agreement do not apply in respect of such subsidiaries. At our election, borrowings under the 2019 Credit Agreement denominated in U.S. Dollars will bear interest either at (i) the eurocurrency rate for the applicable interest period plus an applicable margin, or (ii) the base rate plus an applicable margin. The eurocurrency rate for an interest period is the rate per annum equal to (a) the London interbank offered rate (“LIBOR”) for such interest period, divided by (b) a percentage equal to 1.00 minus the daily average eurocurrency reserve rate for such interest period. The applicable interest rate margin over the eurocurrency rate is initially equal to 1.375% , but may increase (to a maximum amount of 1.875% ) or decrease (to a minimum amount of 1.125% ) based on changes in the ratings of our senior unsecured long-term debt securities (“Senior Debt Ratings”). The base rate for any day is a rate per annum equal to the greatest of (i) the prime lending rate published in the Wall Street Journal, (ii) the Federal Reserve Bank of New York (“NYFRB”) Rate (“NYFRB Rate”) plus 0.500% (the NYFRB Rate is the greater of (a) the federal funds rate and (b) the overnight bank funding rate published by the NYFRB), and (iii) the eurocurrency rate for a one month interest period (as defined in the 2019 Credit Agreement ) plus 1.000% . The applicable interest rate margin over the base rate is initially equal to 0.375% , but may increase (to a maximum amount of 0.875% ) or decrease (to a minimum amount of 0.125% ) based on changes in our Senior Debt Ratings. Borrowings under the 2019 Credit Agreement denominated in a currency other than U.S. Dollars will bear interest at the eurocurrency rate for the applicable interest period plus an applicable margin, as described above, plus, in some cases, additional costs. Letter of credit fees are also determined based on our Senior Debt Ratings. In addition to interest payable on the principal amount of indebtedness outstanding from time to time under the 2019 Credit Agreement and letter of credit fees, we are required to pay a quarterly unused commitment fee, which shall accrue at an applicable rate per annum multiplied by the actual daily amount of the lenders’ aggregate unused commitments under the 2019 Credit Agreement . The applicable rate per annum for the unused commitment fee is initially equal to 0.200% , but may increase (to a maximum amount of 0.300% ) or decrease (to a minimum amount of 0.125% ) based on changes in our Senior Debt Ratings. The 2019 Credit Agreement contains certain representations and warranties for the benefit of the administrative agent and the lenders, including but not limited to representations relating to: due incorporation and good standing; due authorization of the 2019 Credit Agreement documentation; absence of any requirement for governmental or third party authorization for the due execution, delivery and performance of the 2019 Credit Agreement documentation; enforceability of the 2019 Credit Agreement documentation; accuracy of financial statements; no material adverse effect since June 29, 2018; absence of material undisclosed litigation as of June 28, 2019; compliance with the Employee Retirement Income Security Act of 1974 (“ERISA”) and environmental, anti-money laundering, sanctions, anti-corruption and certain other laws; payment of taxes; and solvency. The 2019 Credit Agreement contains certain affirmative covenants, including but not limited to covenants relating to: reporting obligations; maintenance of corporate existence and good standing; compliance with laws; maintenance of properties and insurance; payment of taxes; compliance with ERISA and environmental, anti-money laundering, sanctions, export controls, anti-corruption and certain other laws; maintenance of accurate books and records; and visitation and inspection by the administrative agent and the lenders. The 2019 Credit Agreement also contains certain negative covenants, including covenants: limiting certain liens on assets; limiting certain mergers, consolidations or sales of assets; limiting certain sale and leaseback transactions; limiting certain vendor financing investments; limiting certain investments in unrestricted subsidiaries; and limiting certain hedging arrangements. The 2019 Credit Agreement also requires that we not permit our ratio of consolidated total indebtedness (excluding defined benefit plan liabilities) to total capital, each as defined in the 2019 Credit Agreement , to be greater than 0.65 : 1.00 . We were in compliance with the covenants in the 2019 Credit Agreement at January 3, 2020 . The 2019 Credit Agreement contains certain events of default, including: failure to make payments under the 2019 Credit Agreement ; failure to perform or observe terms, covenants or agreements contained in the 2019 Credit Agreement ; material inaccuracy of any representation or warranty under the 2019 Credit Agreement ; payment default by us or certain of our subsidiaries under other indebtedness with a principal amount in excess of $200 million or acceleration of or ability to accelerate such other indebtedness; occurrence of one or more final judgments or orders for the payment by us or certain of our subsidiaries of money in excess of $200 million that remain unsatisfied; incurrence by us or certain of our subsidiaries of certain ERISA liability in excess of $200 million ; any bankruptcy or insolvency of L3Harris or any material subsidiary; invalidity of 2019 Credit Agreement documentation; or a change of control (as defined in the 2019 Credit Agreement ) of L3Harris. If an event of default occurs, then the lenders may, among other things, terminate their commitments and declare all outstanding borrowings to be immediately due and payable together with accrued interest and fees. All principal amounts borrowed or outstanding under the 2019 Credit Agreement are due on June 28, 2024, unless (i) the commitments are terminated earlier either at our request or if certain events of default described in the 2019 Credit Agreement occur or (ii) the maturity date is extended pursuant to provisions allowing us, from time to time after June 28, 2020, but at least 45 days prior to the scheduled maturity date then in effect, to request that the scheduled maturity date then in effect be extended by one calendar year (with no more than one such extension permitted in any calendar year and no more than two such extensions during the term of the 2019 Credit Agreement ), subject to approval by lenders holding a majority of the commitments under the 2019 Credit Agreement and satisfaction of certain conditions stated in the 2019 Credit Agreement (including the absence of any default and the accuracy of certain representations and warranties); provided, however, that all revolving loans of those lenders declining to participate in the requested extension and whose commitments under the 2019 Credit Agreement have not been replaced pursuant to customary replacement rights in our favor shall remain due and payable in full, and all commitments under the 2019 Credit Agreement of such declining lenders shall terminate, on the maturity date in effect prior to the requested extension. At January 3, 2020 , we had no borrowings outstanding under the 2019 Credit Facility .

DEBT

DEBT	6 Months Ended
	Jan. 03, 2020
Debt Disclosure [Abstract]
DEBT	NOTE 14: DEBT Long-Term Debt Long-term debt is summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Variable-rate debt: Floating rate notes, due February 27, 2019 $ — $ — $ 300 Floating rate notes, due April 30, 2020 250 250 250 Total variable-rate debt 250 250 550 Fixed-rate debt: 2.7% notes, due April 27, 2020 — 400 400 4.95% notes, due February 15, 2021 650 — — 3.85% notes, due June 15, 2023 800 — — 3.95% notes, due May 28, 2024 350 — — 3.832% notes, due April 27, 2025 600 600 600 7.0% debentures, due January 15, 2026 100 100 100 3.85% notes, due December 15, 2026 550 — — 6.35% debentures, due February 1, 2028 26 26 26 4.40% notes, due June 15, 2028 1,850 850 850 2.900% notes, due December 15, 2029 400 — — 4.854% notes, due April 27, 2035 400 400 400 6.15% notes, due December 15, 2040 300 300 300 5.054% notes, due April 27, 2045 500 500 500 Other 49 17 14 Total fixed-rate debt 6,575 3,193 3,190 Total debt 6,825 3,443 3,740 Plus: unamortized bond premium 154 — — Less: unamortized discounts and issuance costs (28 ) (24 ) (28 ) Total debt, net 6,951 3,419 3,712 Less: current portion of long-term debt, net (257 ) (656 ) (304 ) Total long-term debt, net $ 6,694 $ 2,763 $ 3,408 The potential maturities of long-term debt, including the current portion, for the five years following the end of the Fiscal Transition Period and, in total, thereafter are: $257 million in fiscal 2020; $657 million in fiscal 2021; $5 million in fiscal 2022; $804 million in fiscal 2023; $352 million in fiscal 2024; and $4,750 million thereafter. As part of our purchase accounting for the L3Harris Merger, the L3 Notes (defined below) were recorded at fair value ( $3.52 billion on a combined basis, representing a premium of $171 million ). This premium will be amortized to interest expense over the lives of the related New L3Harris Notes (defined below) and such amortization is reflected as a reduction of interest expense in our Consolidated Statement of Income. Debt Exchange. In connection with the L3Harris Merger, on July 2, 2019, we settled our previously announced debt exchange offers in which eligible holders of L3 senior notes (“L3 Notes”) could exchange such outstanding notes for (1) up to $3.35 billion aggregate principal amount of new notes issued by L3Harris (“New L3Harris Notes”) and (2) one dollar in cash for each $1,000 of principal amount. Each series of the New L3Harris Notes issued has an interest rate and maturity date that is identical to the L3 Notes. Aggregate Principal Amount of L3 Notes (prior to debt exchange) Aggregate Principal Amount of New L3Harris Notes Issued Aggregate Principal Amount of Remaining L3 Notes (In millions) 4.95% notes due February 15, 2021 (“4.95% 2021 Notes”) $ 650 $ 501 $ 149 3.85% notes due June 15, 2023 (“3.85% 2023 Notes”) 800 741 59 3.95% notes due May 28, 2024 (“3.95% 2024 Notes”) 350 326 24 3.85% notes due December 15, 2026 (“3.85% 2026 Notes”) 550 535 15 4.40% notes due June 15, 2028 (“4.40% 2028 Notes”) 1,000 918 82 Total $ 3,350 $ 3,021 $ 329 Interest on the New L3Harris Notes is payable semi-annually in arrears on February 15 and August 15, commencing on August 15, 2019, in the case of the 4.95% 2021 Notes; on June 15 and December 15, commencing on December 15, 2019, in the case of the 3.85% 2023 Notes, 3.85% 2026 Notes and 4.40% 2028 Notes; and on May 28 and November 28, commencing on November 28, 2019, in the case of the 3.95% 2024 Notes. The New L3Harris Notes are unsecured senior obligations and rank equally in right of payment with all other L3Harris senior unsecured debt. The New L3Harris Notes are redeemable in whole or in part at any time or in part from time to time, at our option, until three months prior to the maturity date, in the case of the 4.95% 2021 Notes, 3.95% 2024 Notes, 3.85% 2026 Notes and 4.40% 2028 Notes, and until one month prior to the maturity date, in the case of the 3.85% 2023 Notes, at a redemption price equal to the greater of 100 percent of the principal amount of the notes to be redeemed or the sum of the present values of the principal amount and the remaining scheduled payments of interest on the notes to be redeemed, discounted from the scheduled payment dates to the date of redemption at the “treasury rate” as defined in the note, plus 20 basis points, in the case of the 3.85% 2023 Notes and 3.95% 2024 Notes, or 25 basis points, in the case of the 4.95% 2021 Notes, 3.85% 2026 Notes and 4.40% 2028 Notes, plus, in each case, accrued and unpaid interest due at the date of redemption. In connection with the issuance of the New L3Harris Notes, we entered into a registration rights agreement, dated July 2, 2019, with BofA Securities, Inc. and Morgan Stanley & Co. LLC, pursuant to which we agreed to use commercially reasonable efforts to complete one or more registered exchange offers for the New L3Harris Notes within 365 days after July 2, 2019. If a registered exchange offer is not consummated within the alloted time, we are required to pay special additional interest, in an amount equal to 0.25% per annum of the principal amount of the New L3Harris Notes, for the first 90 days following the day of default. Thereafter, the amount of special additional interest increases another 0.25% per year, up to a maximum of 0.50% per year, until the default is cured. Following the settlement of the exchange offers, there was approximately $329 million of existing L3 Senior Notes outstanding, which remain the senior unsecured obligations of L3. Long-Term Debt Repaid in the Two Quarters Ended January 3, 2020 On December 16, 2019, we completed our optional redemption of the entire outstanding $400 million aggregate principal amount of our 2.7% Notes due April 27, 2020 (the “ 2.7% 2020 Notes”) at a “make-whole” redemption price as set forth in the 2.7% 2020 Notes. The “make-whole” redemption price for the 2.7% 2020 Notes was $403 million , and after adjusting for the carrying value of our unamortized issuance costs, we recorded a $2 million loss on the extinguishment of the 2.7% 2020 Notes in the two quarters ended January 3, 2020 , which is included as a component of the “Non-operating income” line item in our Consolidated Statement of Income. Long-Term Debt Issued in the Two Quarters Ended January 3, 2020 Fixed-rate Debt: On November 27, 2019, in order to fund our optional redemption of the 2.7% 2020 Notes as described above under “Long-Term Debt Repaid in the Two Quarters Ended January 3, 2020 ,” we completed the issuance of $400 million in aggregate principal amount of 2.900% notes due December 15, 2029 (the “ 2.900% 2029 Notes”). Interest on the 2.900% 2029 Notes is payable semi-annually in arrears on June 15 and December 15 of each year, commencing on June 15, 2020. At any time prior to September 15, 2029, we may redeem the 2.900% 2029 Notes, in whole or in part, at our option, at a “make-whole” redemption price equal to the greater of 100 percent of the principal amount of the 2.900% 2029 Notes or the sum of the present values of the remaining scheduled payments of the principal plus accrued interest (other than interest accruing to the date of redemption) on the notes being redeemed, discounted to the redemption date on a semi-annual basis at the “Treasury Rate”, as defined in the 2.900% 2029 Notes, plus 20 basis points. We will pay accrued interest on the principal amount of notes being redeemed to, but not including, the redemption date. At any time on or after September 15, 2029, we may redeem the 2.900% 2029 Notes, in whole or in part, at our option, at a redemption price equal to 100 percent of the principal amount of the notes being redeemed, plus accrued interest on the principal amount of the notes being redeemed to, but not including, the redemption date. In addition, upon change of control combined with a below-investment-grade rating event, we may be required to make an offer to repurchase the 2.900% 2029 Notes at a price equal to 101 percent of the aggregate principal amount of the notes being repurchased, plus accrued interest on the notes being repurchased to, but not including, the date of repurchase. We incurred $3 million of debt issuance costs related to the issuance of the 2.900% 2029 Notes, which are being amortized using the effective interest rate method over the life of the 2.900% 2029 Notes, and such amortization is included as a component of the “Interest expense” line item in our Consolidated Statement of Income. Long-Term Debt Repaid in Fiscal 2019 During the third quarter of fiscal 2019, we repaid at maturity the entire outstanding $300 million aggregate principal amount of our Floating Rate Notes due February 27, 2019. Long-Term Debt Repaid in Fiscal 2018 On June 22, 2018, we completed our optional redemption of the entire outstanding $400 million aggregate principal amount of our 4.4% notes due December 15, 2020 (the “ 4.4% 2020 Notes”) and $400 million aggregate principal amount of our 5.55% notes due October 1, 2021 (the “2021 Notes” and collectively with the 4.4% 2020 Notes, the “2018 Redeemed Notes”) at a “make-whole” redemption price as set forth in the 2018 Redeemed Notes. The combined “make-whole” redemption price for the 2018 Redeemed Notes was $844 million , and after adjusting for the carrying value of our bond premium, discounts and issuance costs, we recorded a combined $22 million loss on the extinguishment of the 2018 Redeemed Notes in the fourth quarter of fiscal 2018, which is included as a component of the “Non-operating income (loss)” line item in our Consolidated Statement of Income. During the fourth quarter of fiscal 2018, we also repaid at maturity the entire outstanding $500 million aggregate principal amount of the 1.999% notes due April 27, 2018. During the second quarter of fiscal 2018, we repaid in full the $253 million in remaining outstanding indebtedness under the 5 -year tranche of our $1.3 billion senior unsecured term loan facility pursuant to our Term Loan Agreement, dated as of March 16, 2015, and recognized a $1 million extinguishment loss, which is included as a component of the “Non-operating income (loss)” line item in our Consolidated Statement of Income, as a result of associated unamortized debt issuance costs. During the fourth quarter of fiscal 2018, we also repaid in full the $36 million in remaining indebtedness under the 3 -year tranche (for a total of $305 million in term loan indebtedness repaid during fiscal 2018), and as a result, our $1.3 billion senior unsecured term loan facility pursuant to our Term Loan Agreement, dated as of March 16, 2015, was terminated. Long-Term Debt Issued in Fiscal 2018 Variable-rate Debt: On November 6, 2017, we completed the issuance and sale of $250 million in aggregate principal amount of Floating Rate Notes due April 30, 2020 (“Floating Rate Notes 2020”). We incurred $2 million of debt issuance costs related to the issuance of the Floating Rate Notes 2020, which are being amortized using the effective interest rate method over the life of the notes, and such amortization is included as a component of the “Interest expense” line item in our Consolidated Statement of Income. The Floating Rate Notes 2020 bear interest at a floating rate, reset quarterly, equal to three-month LIBOR plus 0.48% per year. Interest is payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year, commencing January 30, 2018. The Floating Rate Notes 2020 are not redeemable at our option prior to maturity. Upon a change of control combined with a below-investment-grade rating event, we may be required to make an offer to repurchase the notes at a price equal to 101 percent of the aggregate principal amount of the notes being repurchased, plus accrued interest on the notes being repurchased to, but not including, the date of repurchase. We used the net proceeds, together with cash on hand, to repay in full the $253 million in remaining outstanding indebtedness under the 5 -year tranche of our $1.3 billion senior unsecured term loan facility as described above under “Long-Term Debt Repaid in Fiscal 2018”. Fixed-rate Debt: On June 4, 2018, in order to fund our optional redemption of the 2018 Redeemed Notes as described above under “Long-Term Debt Repaid in Fiscal 2018,” we completed the issuance of $850 million in aggregate principal amount of 4.400% notes due June 15, 2028 (the “ New 2028 Notes ”). Interest on the New 2028 Notes is payable semi-annually in arrears on June 15 and December 15 of each year, commencing on December 15, 2018. At any time prior to March 15, 2028, we may redeem the New 2028 Notes , in whole or in part, at our option, at a “make-whole” redemption price equal to the greater of 100 percent of the principal amount of the New 2028 Notes or the sum of the present values of the remaining scheduled payments of the principal and interest (other than interest accruing to the date of redemption) on the notes being redeemed, discounted to the redemption date on a semi-annual basis at the “Treasury Rate”, as defined in the New 2028 Notes, plus 25 basis points . We will pay accrued interest on the principal amount of notes being redeemed to, but not including, the redemption date. At any time on or after March 15, 2028, we may redeem the New 2028 Notes , in whole or in part, at our option, at a redemption price equal to 100 percent of the principal amount of the notes being redeemed, plus accrued interest on the principal amount of the notes being redeemed to, but not including, the redemption date. In addition, upon change of control combined with a below-investment-grade rating event, we may be required to make an offer to repurchase the New 2028 Notes at a price equal to 101 percent of the aggregate principal amount of the notes being repurchased, plus accrued interest on the notes being repurchased to, but not including, the date of repurchase. We incurred $8 million of debt issuance costs related to the issuance of the New 2028 Notes , which are being amortized using the effective interest rate method over the life of the New 2028 Notes , and such amortization is included as a component of the “Interest expense” line item in our Consolidated Statement of Income. Long-Term Debt Issued Prior to Fiscal 2018 that Remained Outstanding at January 3, 2020 On April 27, 2015, in connection with the then-pending acquisition of Exelis, to fund a portion of the cash consideration and other amounts payable under the terms of the merger agreement and to redeem certain of our existing notes, we issued long-term fixed-rate debt securities in the aggregate amount of $2.4 billion . The principal amounts, interest rates and maturity dates of these securities that remained outstanding at January 3, 2020 were as follows: • $600 million in aggregate principal amount of 3.832% notes due April 27, 2025 (the “ 2025 Notes ”), • $400 million in aggregate principal amount of 4.854% notes due April 27, 2035 (the “ 2035 Notes ”), and • $500 million in aggregate principal amount of 5.054% notes due April 27, 2045 (the “ 2045 Notes ” and collectively with the 2025 Notes and 2035 Notes, the “Exelis Notes”). Interest on each series of the Exelis Notes is payable semi-annually in arrears on April 27 and October 27 of each year, commencing October 27, 2015. The Exelis Notes are redeemable at our option up to one month prior to the scheduled maturity date at a price equal to the greater of 100 percent of the principal amount of the notes being redeemed or the sum of the present values of the remaining scheduled payments, plus accrued interest, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, as defined, plus (i) 30 basis points in the case of the 2025 Notes , (ii) 35 basis points in the case of the 2035 Notes , and (iii) 40 basis points in the case of the 2045 Notes . In addition, upon a change of control combined with a below-investment-grade rating event, we may be required to make an offer to repurchase the Exelis Notes at a price equal to 101 percent of the aggregate principal amount of the notes being repurchased, plus accrued interest on the notes being repurchased to, excluding the date of repurchase. On December 3, 2010, we completed the issuance of $300 million in aggregate principal amount of 6.15% notes due December 15, 2040 (the “2040 Notes”). The 2040 Notes are redeemable at our option at a price equal to the greater of 100 percent of the principal amount of the notes being redeemed or the sum of the present values of the remaining scheduled payments, plus accrued interest, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, as defined, plus 35 basis points. In addition, upon a change of control combined with a below-investment-grade rating event, we may be required to make an offer to repurchase the notes at a price equal to 101 percent of the aggregate principal amount of the notes being repurchased, plus accrued interest on the notes being repurchased to, but not including, the date of repurchase. In January 1996, we completed the issuance of $100 million in aggregate principal amount of 7.0% debentures due January 15, 2026. The debentures are not redeemable prior to maturity. In February 1998, we completed the issuance of $150 million in aggregate principal amount of 6.35% debentures due February 1, 2028. On December 5, 2007, we repurchased and retired $25 million in aggregate principal amount of the debentures. On February 1, 2008, we redeemed $99 million in aggregate principal amount of the debentures pursuant to the procedures for redemption at the option of the holders of the debentures. We may redeem the remaining $26 million in aggregate principal amount of the debentures in whole, or in part, at any time at a pre-determined redemption price. The following table presents the carrying amounts and estimated fair values of our long-term debt: January 3, 2020 June 28, 2019 June 29, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Long-term debt (including current portion) (1) $ 6,951 $ 7,536 $ 3,419 $ 3,802 $ 3,712 $ 3,848 _______________ (1) The fair value was estimated using a market approach based on quoted market prices for our debt traded in the secondary market. If our long-term debt in our balance sheet were measured at fair value, it would be categorized in Level 2 of the fair value hierarchy. Short-Term Debt Our short-term debt at January 3, 2020 , June 28, 2019 and June 29, 2018 was $3 million , $103 million (including $100 million outstanding under our commercial paper program) and $78 million (including $75 million outstanding under our commercial paper program), respectively. Interest expense incurred on our short-term debt was not material in the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 . Interest Paid Total interest paid was $144 million in the two quarters ended January 3, 2020 . Total interest paid was $170 million , $175 million and $168 million in fiscal 2019 , 2018 and 2017

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jan. 03, 2020
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	NOTE 15: PENSION AND OTHER POSTRETIREMENT BENEFITS Defined Contribution Plan As of January 3, 2020 , we sponsor numerous defined contribution savings plans, which allow our eligible employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. The plans include several match contribution formulas which requires us to match a percentage of the employee contributions up to certain limits, generally totaling between 2.0% to 6.0% of employee eligible pay. Matching contributions charged to expense were $105 million for the two quarters ended January 3, 2020 . Matching contributions charged to expense were $85 million , $83 million and $80 million for fiscal 2019 , 2018 and 2017 , respectively, including both continuing and discontinued operations. Deferred Compensation Plan We also sponsor a supplemental executive retirement plan, which is a nonqualified deferred compensation arrangement for highly compensated employees (within the meaning of section 201(2) of ERISA). The plan obligations are funded by investments held in a Rabbi Trust. The following table provides the fair value of our deferred compensation plan investments and liabilities by category and by fair value hierarchy level: January 3, 2020 June 28, 2019 June 29, 2018 Total Level 1 Total Level 1 Total Level 1 (In millions) Assets Deferred compensation plan assets: (1) Equity and fixed income securities (2) $ 58 $ 58 $ 99 $ 99 $ 109 $ 109 Investments measured at NAV: Corporate-owned life insurance 29 28 27 Total fair value of deferred compensation plan assets $ 87 $ 127 $ 136 Liabilities Deferred compensation plan liabilities: (3) Equity securities and mutual funds $ 2 $ 2 $ 25 $ 25 $ 38 $ 38 Investments measured at NAV: Common/collective trusts and guaranteed investment contracts 69 132 111 Total fair value of deferred compensation plan liabilities $ 71 $ 157 $ 149 _______________ (1) Represents diversified assets held in a “rabbi trust” associated with our non-qualified deferred compensation plans, which we include in the “Other current assets” and “Other non-current assets” line items in our Consolidated Balance Sheet, and which are measured at fair value. (2) We have reclassified certain prior-year amounts to conform with current period classifications. Reclassifications include certain equity and fixed income funds that were previously included under “Investments Measured at NAV” and are now reflected in “Equity and fixed income securities” under “Level 1.” (3) Primarily represents obligations to pay benefits under certain non-qualified deferred compensation plans, which we include in the “Compensation and benefits” and “Other long-term liabilities” line items in our Consolidated Balance Sheet. Under these plans, participants designate investment options (including stock and fixed-income funds), which serve as the basis for measurement of the notional value of their accounts. Defined Benefit Plans We sponsor numerous defined benefit pension plans for eligible employees. Benefits for most participants under the terms of these plans are based on the employee’s years of service and compensation. We fund these plans as required by statutory regulations and through voluntary contributions. Some of our employees also participate in other postretirement defined benefit plans such as health care and life insurance plans. The U.S. Salaried Retirement Plan (“U.S. SRP”) is our largest defined benefit pension plan, with assets valued at $4.5 billion and a projected benefit obligation of $5.6 billion as of January 3, 2020 . Effective December 31, 2016, accruals under the U.S. SRP benefit formula were frozen for all employees and replaced with a 1% cash balance benefit formula for certain employees who were not highly compensated on December 31, 2016. Balance Sheet Information Amounts recognized in our Consolidated Balance Sheet for defined benefit pension plans and other postretirement defined benefit plans (collectively, “defined benefit plans”) reflect the funded status of our plans. The following table provides a summary of the funded status of our defined benefit plans and the presentation of such balances within our Consolidated Balance Sheet: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Pension Other (In millions) Fair value of plan assets $ 8,618 $ 274 $ 4,958 $ 201 $ 5,098 $ 207 Projected benefit obligation (10,268 ) (369 ) (6,123 ) (221 ) (5,774 ) (233 ) Funded status $ (1,650 ) $ (95 ) $ (1,165 ) $ (20 ) $ (676 ) $ (26 ) Consolidated Balance Sheet line item amounts: Other non-current assets $ 91 $ 1 $ 12 $ — $ 15 $ — Compensation and benefits (10 ) (8 ) (7 ) — (2 ) (1 ) Liabilities of disposal group held for sale — — (16 ) — — — Defined benefit plans (1,731 ) (88 ) (1,154 ) (20 ) (689 ) (25 ) A portion of our projected benefit obligation includes amounts that have not yet been recognized as expense (or reductions of expense) in our results of operations. Such amounts are recorded within accumulated other comprehensive loss until they are amortized as a component of net periodic benefit cost. The following table provides a summary of pre-tax amounts recorded within accumulated other comprehensive loss: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Benefits Pension Other Benefits (In millions) Net actuarial loss (gain) $ 819 $ (34 ) $ 781 $ (36 ) $ 156 $ (46 ) Net prior service cost (credit) (282 ) (1 ) 6 (1 ) 4 (1 ) $ 537 $ (35 ) $ 787 $ (37 ) $ 160 $ (47 ) The following table provides a roll-forward of the projected benefit obligations for our defined benefit plans: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Benefits Pension Other Benefits (In millions) Change in benefit obligation Benefit obligation at beginning of fiscal year $ 6,123 $ 221 $ 5,774 $ 233 $ 6,140 $ 265 Benefit obligation assumed in L3Harris Merger 4,474 156 — — — — Service cost 42 1 36 — 39 1 Interest cost 149 5 209 8 195 7 Actuarial loss (gain) 301 7 514 (1 ) (169 ) (22 ) Amendments (292 ) — 3 — 2 — Benefits paid (342 ) (21 ) (381 ) (19 ) (402 ) (18 ) Settlements (5 ) — — — — — Expenses paid (43 ) — (30 ) — (35 ) — Curtailments (35 ) — 1 — — — Foreign currency exchange rate changes 3 — (3 ) — 4 — Plan participants' contributions 1 — — — — — Divestiture (108 ) — — — — — Benefit obligation at end of fiscal year $ 10,268 $ 369 $ 6,123 $ 221 $ 5,774 $ 233 The following table provides a roll-forward of the assets and the ending funded status of our defined benefit plans: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Benefits Pension Other Benefits (In millions) Change in plan assets Plan assets at beginning of fiscal year $ 4,958 $ 201 $ 5,098 $ 207 $ 4,921 $ 212 Plan assets acquired in L3Harris Merger 3,183 68 — — — — Actual return on plan assets 548 18 271 11 307 14 Employer contributions 406 8 3 2 303 (1 ) Benefits paid (342 ) (21 ) (381 ) (19 ) (402 ) (18 ) Settlements (5 ) — — — — — Expenses paid (43 ) — (30 ) — (35 ) — Foreign currency exchange rate changes 4 — (3 ) — 4 — Plan participants' contributions 1 — — — — — Divestiture (92 ) — — — — — Plan assets at end of fiscal year $ 8,618 $ 274 $ 4,958 $ 201 $ 5,098 $ 207 Funded status at end of fiscal year $ (1,650 ) $ (95 ) $ (1,165 ) $ (20 ) $ (676 ) $ (26 ) The accumulated benefit obligation for all defined benefit pension plans was $10.2 billion at January 3, 2020 . The following table provides information for defined benefit pension plans with an accumulated benefit obligation in excess of plan assets: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Projected benefit obligation $ 9,670 $ 6,041 $ 5,694 Accumulated benefit obligation 9,656 6,041 5,694 Fair value of plan assets 7,931 4,864 5,004 Income Statement Information The following table provides the components of net periodic benefit income and other amounts recognized in other comprehensive income for the two quarters ended January 3, 2020 and fiscal 2019 , 2018 and 2017 as they pertain to our defined benefit plans: Pension Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Net periodic benefit income Service cost $ 42 $ 36 $ 39 $ 58 Interest cost 149 209 195 184 Expected return on plan assets (314 ) (382 ) (369 ) (340 ) Amortization of net actuarial loss (gain) 1 — — 1 Amortization of prior service credit (5 ) — — — Effect of curtailments or settlements (1) (18 ) 1 — — Net periodic benefit income $ (145 ) $ (136 ) $ (135 ) $ (97 ) Other changes in plan assets and benefit obligations recognized in other comprehensive loss Net actuarial loss (gain) $ 55 $ 625 $ (106 ) $ (284 ) Prior service (credit) cost (292 ) 3 2 — Amortization of net actuarial gain (loss) (5 ) — — (1 ) Amortization of prior service credit (cost) 5 (1 ) — — Recognized net loss due to divestiture (13 ) — — — Total change recognized in other comprehensive loss (250 ) 627 (104 ) (285 ) Total impact from net periodic benefit cost and changes in other comprehensive loss $ (395 ) $ 491 $ (239 ) $ (382 ) _______________ (1) Effective January 1, 2020, for certain acquired L3 U.S. defined benefit pension plans, benefit accruals were frozen and replaced with a 1% cash balance benefit formula for certain employees who were not considered highly compensated on December 31, 2018. During the two quarters ended January 3, 2020 , we recognized a $23 million curtailment gain as a result of this change, and a $5 million settlement loss resulting from the payout of the liabilities of a non-qualified benefit plan due to the change in control provisions. Other Benefits Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Net periodic benefit income Service cost $ 1 $ — $ 1 $ 1 Interest cost 5 8 7 8 Expected return on plan assets (10 ) (16 ) (16 ) (17 ) Amortization of net actuarial loss (gain) (3 ) (6 ) (1 ) — Net periodic benefit income $ (7 ) $ (14 ) $ (9 ) $ (8 ) Other changes in plan assets and benefit obligations recognized in other comprehensive loss Net actuarial loss (gain) $ (1 ) $ 4 $ (20 ) $ (38 ) Amortization of net actuarial gain (loss) 3 6 1 — Total change recognized in other comprehensive loss 2 10 (19 ) (38 ) Total impact from net periodic benefit cost and changes in other comprehensive loss $ (5 ) $ (4 ) $ (28 ) $ (46 ) The following table provides estimated amounts for net actuarial gain and prior service cost to be amortized from accumulated other comprehensive loss into net periodic benefit income during the next twelve months for plans in existence as of January 3, 2020 . Pension Other Total (In millions) Net actuarial (gain) loss $ 10 $ (3 ) $ 7 Prior service cost (28 ) — (28 ) $ (18 ) $ (3 ) $ (21 ) Defined Benefit Plan Assumptions The determination of the assumptions related to defined benefit plans are based on the provisions of the applicable accounting pronouncements, review of various market data and discussions with our actuaries. We develop each assumption using relevant Company experience in conjunction with market-related data. Assumptions are reviewed annually and adjusted as appropriate. The following tables provide the weighted-average assumptions used to determine projected benefit obligations and net periodic benefit cost, as they pertain to our defined benefit pension plans in existence as of January 3, 2020 : Obligation assumptions as of: January 3, 2020 June 28, 2019 June 29, 2018 Discount rate 3.14 % 3.35 % 4.05 % Rate of future compensation increase 2.80 % 2.76 % 2.76 % Cost assumptions for fiscal periods ended: January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 Discount rate to determine service cost 3.11 % 3.89 % 3.48 % 3.80 % Discount rate to determine interest cost 2.94 % 3.75 % 3.28 % 2.94 % Expected return on plan assets 7.68 % 7.66 % 7.66 % 7.65 % Rate of future compensation increase 2.97 % 2.76 % 2.76 % 2.75 % Key assumptions for the U.S. SRP (our largest defined benefit pension plan with approximately 54% of the total projected benefit obligation) included a discount rate for obligation assumptions of 3.10% and expected return on plan assets of 7.75% for the two quarters ended January 3, 2020 , which is being maintained at 7.75% for fiscal 2020. The following table provides the weighted-average assumptions used to determine projected benefit obligations and net periodic benefit cost, as they pertain to our other postretirement defined benefit plans in existence as of January 3, 2020 : Obligation assumptions as of: January 3, 2020 June 28, 2019 June 29, 2018 Discount rate 2.97 % 3.21 % 3.99 % Rate of future compensation increase N/A N/A N/A Cost assumptions for fiscal periods ended: January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 Discount rate to determine service cost 3.47 % 4.14 % 3.62 % 3.52 % Discount rate to determine interest cost 2.74 % 3.62 % 3.04 % 2.60 % Rate of future compensation increase N/A N/A N/A N/A The expected long-term rate of return on plan assets reflects the expected returns for each major asset class in which the plans invest, the weight of each asset class in the strategic allocation, the correlations among asset classes and their expected volatilities. Our expected rate of return on plan assets is estimated by evaluating both historical returns and estimates of future returns. Specifically, the determination of the expected long-term rate of return takes into consideration: (1) the plan’s actual historical annual return on assets over the past 15 -, 20 - and 25 -year time periods, (2) historical broad market returns over long-term timeframes weighted by the plan’s strategic allocation, and (3) independent estimates of future long-term asset class returns, weighted by the plan’s strategic allocation. Based on this approach, the long-term annual rate of return on assets is estimated at 7.75% for fiscal 2020 for the U.S. defined benefit pension plans. The weighted average long-term annual rate of return on assets for all defined benefit pension plans is estimated at 7.68% for fiscal 2020. In the two quarters ended January 3, 2020 , we adopted updated mortality tables, which resulted in a decrease in the defined benefit plans’ projected benefit obligation as of January 3, 2020 and estimated net periodic benefit cost beginning with fiscal 2020. The assumed composite rate of future increases in the per capita healthcare costs (the healthcare trend rate) was 6.80% for fiscal 2020, decreasing ratably to 4.70% by fiscal 2030. Increasing or decreasing the healthcare cost trend rates by one percent per year would not have a material effect on the benefit obligation or the aggregate annual service and interest cost components. To the extent that actual experience differs from these assumptions, the effect will be accumulated and generally amortized for each plan to the extent required over the estimated future life expectancy or, if applicable, the future working lifetime of the plan’s active participants. Investment Policy The investment strategy for managing defined benefit plan assets is to seek an optimal rate of return relative to an appropriate level of risk. We manage substantially all defined benefit plan assets on a commingled basis in a master investment trust. In making these asset allocation decisions, we take into account recent and expected returns and volatility of returns for each asset class, the expected correlation of returns among the different investments, as well as anticipated funding and cash flows. To enhance returns and mitigate risk, we diversify our investments by strategy, asset class, geography and sector and engage a large number of managers to gain broad exposure to the markets. The following table provides the current strategic target asset allocation ranges by asset category: Target Asset Allocation Equity investments 40 % — 60% Fixed income investments 20 % — 40% Hedge funds 0 % — 30% Cash and cash equivalents 0 % — 10% Fair Value of Plan Assets The following is a description of the valuation techniques and inputs used to measure fair value for major categories of investments as reflected in the table that follows such description: • Domestic and international equities, which include common and preferred shares, domestic listed and foreign listed equity securities, open-ended and closed-ended mutual funds, real estate investment trusts and exchange traded funds, are generally valued at the closing price reported on the major market exchanges on which the individual securities are traded at the measurement date. Because these assets are traded predominantly on liquid, widely traded public exchanges, equity securities are categorized as Level 1 assets. • Private equity funds, which include buy-out, mezzanine, venture capital, distressed asset and secondary funds, are typically limited partnership investment structures. Private equity funds are valued using a market approach based on NAV calculated by the funds and are not publicly available. Private equity funds generally have liquidity restrictions that extend for ten or more years. At January 3, 2020 , June 28, 2019 and June 29, 2018 , our defined benefit plans had future unfunded commitments totaling $325 million , $355 million and $246 million , respectively, related to private equity fund investments. • Hedge funds, which include equity long/short, event-driven, fixed-income arbitrage and global macro strategies, are typically limited partnership investment structures. Limited partnership interests in hedge funds are valued using a market approach based on NAV calculated by the funds and are not publicly available. Hedge funds generally permit redemption on a quarterly or more frequent basis with 90 or fewer days-notice. At each of January 3, 2020 , June 28, 2019 and June 29, 2018 , our defined benefit plans had no future unfunded commitments related to hedge fund investments. • Fixed income investments, which include U.S. Government securities, investment and non-investment grade corporate bonds and securitized bonds are generally valued using pricing models that use verifiable, observable market data such as interest rates, benchmark yield curves and credit spreads, bids provided by brokers or dealers, or quoted prices of securities with similar characteristics. Fixed income investments are generally categorized as Level 2 assets. Fixed income funds valued at the closing price reported on the major market exchanges on which the individual fund is traded are categorized as Level 1 assets. • Other is comprised of guaranteed insurance contracts valued at book value, which approximates fair value, calculated using the prior-year balance adjusted for investment returns and changes in cash flows and corporate owned life insurance policies valued at the accumulated benefit. • Cash and cash equivalents are primarily comprised of short-term money market funds valued at cost, which approximates fair value, or valued at quoted market prices of identical instruments. Cash and currency are categorized as Level 1 assets; cash equivalents, such as money market funds or short-term commingled funds, are categorized as Level 2 assets. • Certain investments that are valued using the NAV per share (or its equivalent) as a practical expedient are not categorized in the fair value hierarchy and are included in the table to permit reconciliation of the fair value hierarchy to the aggregate postretirement benefit plan assets. The following tables provide the fair value of plan assets held by our defined benefit plans by asset category and by fair value hierarchy level: January 3, 2020 Total Level 1 Level 2 Level 3 (In millions) Asset Category Equities: Domestic equities $ 2,968 $ 2,968 $ — $ — International equities 1,217 1,217 — — Real Estate Investment Trusts 211 211 — — Fixed income: Corporate bonds 1,176 — 1,159 17 Government securities 489 — 489 — Securitized Assets 131 — 131 — Fixed Income Funds 101 101 — — Other 2 — — 2 Cash and cash equivalents 691 17 674 — Total 6,986 $ 4,514 $ 2,453 $ 19 Investments Measured at NAV Equity funds 933 Fixed income funds 323 Hedge funds 342 Private equity funds 302 Other 1 Total Investments Measured at NAV 1,901 Receivables, net 5 Total fair value of plan assets $ 8,892 June 28, 2019 Total Level 1 Level 2 Level 3 (In millions) Asset Category Equities: Domestic equities $ 1,173 $ 1,173 $ — $ — International equities 896 896 — — Fixed income: Corporate bonds 923 — 906 17 Government securities 332 — 332 — Other 2 — — 2 Cash and cash equivalents 59 12 47 — Total 3,385 $ 2,081 $ 1,285 $ 19 Investments Measured at NAV Equity funds 703 Fixed income funds 362 Hedge funds 331 Private equity funds 294 Total Investments Measured at NAV 1,690 Receivables, net 84 Total fair value of plan assets $ 5,159 June 29, 2018 Total Level 1 Level 2 Level 3 (In millions) Asset Category Equities: Domestic equities $ 1,221 $ 1,189 $ 32 $ — International equities 903 899 4 — Fixed income: Corporate bonds 811 — 800 11 Government securities 335 — 335 — Other 2 — — 2 Cash and cash equivalents 209 6 203 — Total 3,481 $ 2,094 $ 1,374 $ 13 Investments Measured at NAV Equity funds 714 Fixed income funds 318 Hedge funds 395 Private equity funds 401 Total Investments Measured at NAV 1,828 Payables, net (4 ) Total fair value of plan assets $ 5,305 Contributions Funding requirements under Internal Revenue Service (“IRS”) rules are a major consideration in making contributions to our postretirement benefit plans. With respect to U.S. qualified pension plans, we intend to contribute annually not less than the required minimum funding thresholds. The Highway and Transportation Funding Act of 2014 and the Bipartisan Budget Act of 2015 (“BBA 2015”) further extended the interest rate stabilization provision of MAP -21 until 2020. We made voluntary contributions to our U.S. qualified defined benefit pension plans of $302 million in the two quarters ended January 3, 2020 and $300 million and $400 million in fiscal 2018 and 2017, respectively. As a result, we currently do not anticipate making any contributions to our U.S. qualified defined benefit pension plans and only minor contributions to our non-U.S. pension plans in fiscal 2020. Estimated Future Benefit Payments The following table provides the projected timing of payments for benefits earned to date and benefits expected to be earned for future service by current active employees under our defined benefit plans in existence as of January 3, 2020 . Pension Other Benefits (1) Total (In millions) Fiscal Years: 2020 $ 572 $ 32 $ 604 2021 576 31 607 2022 583 30 613 2023 584 29 613 2024 581 27 608 2025 — 2028 2,896 117 3,013 _______________ (1) Projected payments for Other Benefits reflect net payments from the Company, which include subsidies that reduce the gross payments by less than 10 percent . Multi-employer Benefit Plans Certain of our businesses acquired in connection with the L3Harris Merger participate in multi-employer defined benefit pension plans. We make cash contributions to these plans under the terms of collective-bargaining agreements that cover union employees based on a fixed rate per hour of service worked by the covered employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: (1) assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers and (3) if we choose to stop participating in some of our multi-employer plans, we may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. Cash contributed and expenses recorded for our multi-employer plans were not material in the two quarters ended January 3, 2020 . See Note 5: Business Combination

STOCK OPTIONS AND OTHER SHARE-B

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION	6 Months Ended
	Jan. 03, 2020
Share-based Payment Arrangement [Abstract]
STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION	NOTE 16: STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION At January 3, 2020 , we had options or other share-based compensation outstanding under two Harris shareholder-approved employee stock incentive plans (“SIPs”), the Harris Corporation 2005 Equity Incentive Plan (As Amended and Restated Effective August 27, 2010) and the Harris Corporation 2015 Equity Incentive Plan (the “2015 EIP”), as well as under employee stock incentive plans of L3 assumed by L3Harris (collectively, “L3Harris SIPs”). We believe that share-based awards more closely align the interests of participants with those of shareholders. Harris equity awards granted prior to October 12, 2018, in accordance with the terms and conditions that were applicable to such awards prior to the L3Harris Merger, generally automatically vested upon closing of the L3Harris Merger and settled in L3Harris Common Stock, except stock options which automatically vested and remained outstanding. Harris equity awards granted on or after October 12, 2018 did not automatically vest upon closing of the L3Harris Merger, and instead remained outstanding as an award with respect to L3Harris common stock in accordance with the terms that were applicable to such award prior to the L3Harris Merger. L3’s equity awards granted prior to October 12, 2018, in accordance with the terms and conditions that were applicable to such awards prior to the L3Harris Merger, generally automatically vested upon closing of the L3Harris Merger and settled in L3Harris common stock (except stock options automatically converted into stock options with respect to L3Harris common stock and remained outstanding), in each case, after giving effect to the Exchange Ratio and appropriate adjustments to reflect the consummation of the L3Harris Merger and the terms and conditions applicable to such awards prior to the L3Harris Merger. Any L3 restricted stock unit or L3 restricted stock award granted on or after October 12, 2018 was converted into a corresponding award with respect to L3Harris common stock, with the number of shares underlying such award adjusted based on the Exchange Ratio, and remained outstanding in accordance with the terms that were applicable to such award prior to the L3Harris Merger. Pursuant to the Merger Agreement, L3Harris assumed the converted L3 equity awards. Summary of Share-Based Compensation Expense The following table summarizes the amounts and classification of share-based compensation expense: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Total expense $ 125 $ 58 $ 51 $ 42 Included in: Cost of product sales and services $ 5 $ 12 $ 8 $ 3 Engineering, selling and administrative expenses 120 46 43 39 Income from continuing operations 125 58 51 42 Tax effect on share-based compensation expense (31 ) (14 ) (16 ) (16 ) Total share-based compensation expense after-tax $ 94 $ 44 $ 35 $ 26 Compensation cost related to share-based compensation arrangements that was capitalized as part of inventory or fixed assets for the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 was not material . As of January 3, 2020 , a total of 22,071,494 shares of common stock remained available under our 2015 EIP for future issuance (excluding shares to be issued in respect of outstanding options and other share-based awards, and with each full-value award (e.g., restricted stock and restricted stock unit awards and performance share and performances share unit awards) counting as 4.6 shares against the total remaining for future issuance). During the two quarters ended January 3, 2020 , we issued an aggregate of 2,425,153 shares of common stock under the terms of our L3Harris SIPs, which is net of shares withheld for tax purposes. Stock Options The following information relates to stock options, including performance stock options, that have been granted under shareholder-approved L3Harris SIPs. Option exercise prices are equal to or greater than the fair market value of our common stock on the date the options are granted, using the closing stock price of our common stock. Options may be exercised for a period of ten years after the date of grant, and options, other than performance stock options, generally become exercisable in installments, which are typically 33.3 percent one year from the grant date, 33.3 percent two years from the grant date and 33.3 percent three years from the grant date. In certain instances, vesting and exercisability are also subject to performance criteria. The fair value as of the grant date of each option award was determined using the Black-Scholes-Merton option-pricing model which uses assumptions noted in the following table. Expected volatility over the expected term of the options is based on implied volatility from traded options on our common stock and the historical volatility of our stock price. The expected term of the options is based on historical observations of our common stock, considering average years to exercise for all options exercised and average years to cancellation for all options canceled, as well as average years remaining for vested outstanding options, which is calculated based on the weighted-average of these three inputs. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. A summary of the significant assumptions used in determining the fair value of stock option grants under our L3Harris SIPs is as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 Expected dividends 1.70 % 1.61 % 1.80 % 2.36 % Expected volatility 22.18 % 19.87 % 19.30 % 21.78 % Risk-free interest rates 1.68 % 2.72 % 1.80 % 1.23 % Expected term (years) 5.65 5.03 5.00 5.03 A summary of stock option activity under our L3 Harris SIPs as of January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In millions) Stock options outstanding June 28, 2019 4,195,201 $ 80.86 Granted 738,956 $ 204.85 Exercised (1,654,558 ) $ 79.35 Other — L3Harris Merger (1) 1,266,379 $ 112.83 Stock options outstanding January 3, 2020 4,545,978 $ 110.48 6.26 $ 454.57 Stock options exercisable January 3, 2020 3,807,022 $ 92.16 5.61 $ 450.42 _______________ (1) Represents L3 stock options converted to L3Harris stock options in accordance with the Merger Agreement. The weighted-average grant-date fair value was $38.61 per share for options granted during the two quarters ended January 3, 2020 and $30.05 per share, $18.60 per share and $13.82 per share for options granted during fiscal 2019 , 2018 , and 2017 , respectively. The total intrinsic value of options exercised during the two quarters ended January 3, 2020 was $212 million at the time of exercise. The total intrinsic value of options exercised during fiscal 2019 , 2018 and 2017 was $75 million , $39 million and $47 million , respectively, at the time of exercise. A summary of the status of our nonvested stock options at January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares Weighted-Average Grant-Date Fair Value Per Share Nonvested stock options June 28, 2019 856,753 $ 20.28 Granted 738,956 $ 38.61 Vested (856,753 ) $ 20.28 Nonvested stock options January 3, 2020 738,956 $ 38.61 As of January 3, 2020 , there was $24 million of total unrecognized compensation expense related to nonvested stock options granted under our L3Harris SIPs. This expense is expected to be recognized over a weighted-average period of 2.49 years. The total fair value of stock options that vested during the two quarters ended January 3, 2020 was approximately $17 million . The total fair value of stock options that vested during fiscal 2019 , 2018 and 2017 was $14 million , $18 million and $17 million , respectively. Restricted Stock and Restricted Stock Unit Awards The following information relates to awards of restricted stock and restricted stock units that have been granted to employees and non-employee directors under our L3Harris SIPs. These awards are not transferable until vested and the restrictions generally lapse upon the achievement of continued employment [or board membership] over a specified time period. The fair value as of the grant date of these awards was based on the closing price of our common stock on the grant date and is amortized to compensation expense over the vesting period. At January 3, 2020 , there were 34,869 shares of restricted stock and 500,898 restricted stock units outstanding which were payable in shares. A summary of the status of these awards at January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares or Units Weighted-Average Grant Price Per Share or Unit Restricted stock and restricted stock units outstanding at June 28, 2019 365,998 $ 134.06 Granted 260,167 $ 204.62 Vested (503,069 ) $ 149.39 Forfeited (16,916 ) $ 193.20 Other — L3Harris Merger (1) 429,587 $ 189.13 Restricted stock and restricted stock units outstanding at January 3, 2020 535,767 $ 196.22 _______________ (1) Represents L3 share-based awards converted to L3Harris restricted stock units in accordance with the Merger Agreement. As of January 3, 2020 , there was $74 million of total unrecognized compensation expense related to these awards under our L3Harris SIPs. This expense is expected to be recognized over a weighted-average period of 2.11 years . The weighted-average grant date price per share or per unit was $204.62 for awards granted during the two quarters ended January 3, 2020 and $160.05 , $141.46 and $94.60 for awards granted during fiscal 2019 , 2018 and 2017 , respectively. The total fair value of these awards was approximately $75 million for awards that vested during the two quarters ended January 3, 2020 and $16 million , $11 million and $14 million for awards that vested during fiscal 2019 , 2018 and 2017 , respectively. Performance Share Unit Awards The following information relates to awards of performance share units that have been granted to employees under our L3Harris SIPs. Generally, these awards are subject to performance criteria, such as meeting predetermined operating income or earnings per share and return on invested capital targets for a 3 -year performance period. These awards also generally vest at the expiration of the same 3 -year period. The final determination of the number of shares to be issued in respect of an award is made by our Board of Directors or a committee of our Board of Directors. The fair value as of the grant date of these awards was based on the closing price of our common stock on the grant date and is amortized to compensation expense over the vesting period if achievement of the performance measures is considered probable. At January 3, 2020 , there were 55,020 performance share units outstanding which were payable in shares. A summary of the status of these awards at January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares or Units Weighted-Average Grant Price Per Share or Unit Performance share units outstanding at June 28, 2019 509,749 $ 126.73 Granted 55,020 $ 204.85 Performance based adjustment (1) 326,656 $ 129.84 Vested (836,405 ) $ 127.94 Performance share units outstanding at January 3, 2020 55,020 $ 204.85 _______________ (1) Represents adjustments for performance conditions that impact the number of shares that vest. All awards with such criteria automatically vested upon the closing of the L3Harris Merger. As of January 3, 2020 , there was $9 million of total unrecognized compensation expense related to these awards under our L3Harris SIPs. This expense is expected to be recognized over a weighted-average period of 2.41 years . The weighted-average grant date price per unit was $204.85 for awards granted during the two quarters ended January 3, 2020 and $155.12 , $123.13 and $84.40 for awards granted during fiscal 2019 , 2018 and 2017 , respectively. The total fair value of these awards was approximately $107 million for awards that vested during the two quarters ended January 3, 2020 and $21 million , $12 million and $21 million for awards that vested during fiscal 2019 , 2018 and 2017 , respectively.

INCOME FROM CONTINUING OPERATIO

INCOME FROM CONTINUING OPERATIONS PER SHARE	6 Months Ended
	Jan. 03, 2020
Earnings Per Share [Abstract]
INCOME FROM CONTINUING OPERATIONS PER SHARE	NOTE 17: INCOME FROM CONTINUING OPERATIONS PER SHARE The computations of income from continuing operations per common share attributable to L3Harris common shareholders are as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions, except per share amounts) Income from continuing operations $ 823 $ 953 $ 702 $ 628 Adjustments for participating securities outstanding — (2 ) (2 ) (1 ) Income from continuing operations used in per basic and diluted common share calculations (A) $ 823 $ 951 $ 700 $ 627 Basic weighted average common shares outstanding (B) 221.2 118.0 118.6 122.6 Impact of dilutive share-based awards 2.5 2.5 2.5 1.7 Diluted weighted average common shares outstanding (C) 223.7 120.5 121.1 124.3 Income from continuing operations per basic common share (A)/(B) $ 3.72 $ 8.06 $ 5.90 $ 5.11 Income from continuing operations per diluted common share (A)/(C) $ 3.68 $ 7.89 $ 5.78 $ 5.04 Potential dilutive common shares primarily consist of employee stock options and restricted and performance unit awards. Income from continuing operations per diluted common share excludes the antidilutive impact of 604,969 weighted average share-based awards outstanding for the two quarters ended January 3, 2020 and 271,892 , 48,590 and 421,507 weighted average share-based awards outstanding for fiscal 2019 , 2018 and 2017 , respectively.

RESEARCH AND DEVELOPMENT

RESEARCH AND DEVELOPMENT	6 Months Ended
	Jan. 03, 2020
Research and Development [Abstract]
RESEARCH AND DEVELOPMENT	NOTE 18: RESEARCH AND DEVELOPMENT Company-sponsored research and development (“R&D”) costs are expensed as incurred and are included in the “Engineering, selling and administrative expenses” line item in our Consolidated Statement of Income. These costs were $329 million in the two quarters ended January 3, 2020 . Company-sponsored R&D costs were $331 million , $311 million and $310 million in fiscal 2019 , 2018 and 2017 , respectively. Customer-sponsored R&D costs are incurred pursuant to contractual arrangements, principally U.S. Government-sponsored contracts requiring us to provide a product or service meeting certain defined performance or other specifications (such as designs), and are accounted for principally by the POC cost-to-cost revenue recognition method. Customer-sponsored R&D is included in our revenue and cost of product sales and services.

LEASE COMMITMENTS

LEASE COMMITMENTS	6 Months Ended
	Jan. 03, 2020
Leases [Abstract]
LEASE COMMITMENTS	NOTE 19: LEASE COMMITMENTS As discussed in Note 2: Accounting Changes or Recent Accounting Pronouncements , we adopted ASC 842 effective June 29, 2019 . Our operating and finance leases at January 3, 2020 were for real estate such as office space, warehouses, manufacturing, research and development facilities, tower space and land, and for equipment. Finance leases were not material at January 3, 2020 and are not included in the disclosures below. Operating lease cost was $88 million for the two quarters ended January 3, 2020 . Other lease expenses, including short-term and equipment lease cost, variable lease cost and sublease income, were not material for the two quarters ended January 3, 2020 . Supplemental operating lease balance sheet information at January 3, 2020 is as follows: (In millions) Operating lease right-of-use assets $ 837 Other accrued items 129 Operating lease liabilities 781 Total operating lease liabilities $ 910 Other supplemental lease information for the two quarters ended January 3, 2020 is as follows: (In millions, except lease term and discount rate) Cash paid for amounts included in the measurement of operating lease liabilities $ 91 Right-of-use assets obtained in exchange for new operating lease liabilities 17 Weighted average remaining lease term — operating leases (in years) 9.4 Weighted average discount rate — operating leases 3.1 % Future lease payments under non-cancelable operating leases at January 3, 2020 were as follows: (In millions) Fiscal Years 2020 $ 162 2021 134 2022 123 2023 103 2024 86 Thereafter 450 Total future lease payments required 1,058 Less: imputed interest 148 Total $ 910 These commitments do not contain any material rent escalations, rent holidays, contingent rent, rent concessions, leasehold improvement incentives or unusual provisions or conditions. We do not consider any individual lease material to our operations. At January 3, 2020 , we had $280 million of additional operating lease commitments for real estate leases that have not yet commenced. These leases will commence in 2021 with lease terms of 15 to 25 years. As discussed in Note 2: Accounting Changes or Recent Accounting Pronouncements in these Notes, we adopted ASC 842 using the optional transition method and, consequently, we are presenting prior period amounts and disclosures under ASC 840. Future minimum lease payments for operating leases under ASC 840 at June 28, 2019 were as follows: (In millions) June 29, 2019 to July 3, 2020 $ 68 July 4, 2020 to July 2, 2021 62 July 3, 2021 to July 1, 2022 47 July 2, 2022 to June 30, 2023 40 July 1, 2023 to June 28, 2024 32 Thereafter 64 Total minimum lease payments required $ 313 Rent expense was $73 million , $61 million and $65 million

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jan. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 20: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, we are exposed to global market risks, including the effect of changes in foreign currency exchange rates and changes in interest rates. We use derivative instruments to manage our exposure to such risks and formally document all relationships between hedging instruments and hedged items, as well as the risk-management objective and strategy for undertaking hedge transactions. We also may enter into derivative instruments that are not designated as hedges and do not qualify for hedge accounting. We recognize all derivatives in our Consolidated Balance Sheet at fair value. We do not hold or issue derivatives for speculative trading purposes. Exchange Rate Risk — Fair Value Hedges To manage the exposure in our balance sheet to risks from changes in foreign currency exchange rates, we implement fair value hedges. More specifically, we have used foreign currency forward contracts and options to hedge certain balance sheet items, including foreign currency denominated accounts receivable and inventory. Changes in the value of the derivatives and the related hedged items are reflected in earnings, in the “Cost of product sales and services” line item in our Consolidated Statement of Income. At January 3, 2020 , we had no outstanding foreign currency forward contracts to hedge balance sheet items. The net gains or losses on foreign currency forward contracts designated as fair value hedges were not material in the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 . In addition, no amounts were recognized in earnings in the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 related to hedged firm commitments that no longer qualify as fair value hedges. Exchange Rate Risk — Cash Flow Hedges To manage our exposure to currency risk and market fluctuation risk associated with anticipated cash flows that are probable of occurring in the future, we implement cash flow hedges. More specifically, we use foreign currency forward contracts and options to hedge off-balance sheet future foreign currency commitments, including purchase commitments to suppliers, future committed sales to customers and intersegment transactions. These derivatives are used to hedge currency exposures from cash flows anticipated across our business segments. We also hedge U.S. Dollar payments to suppliers to maintain our anticipated profit margins in our international operations. These derivatives have only nominal intrinsic value at the time of purchase and have a high degree of correlation to the anticipated cash flows they are designated to hedge. Hedge effectiveness is determined by the correlation of the anticipated cash flows from the hedging instruments and the anticipated cash flows from the future foreign currency commitments through the maturity dates of the derivatives used to hedge these cash flows. These financial instruments are marked-to-market using forward prices and fair value quotes with the offset to other comprehensive income and are categorized in Level 2 of the fair value hierarchy. Gains and losses in accumulated other comprehensive income are reclassified to earnings when the related hedged item is recognized in earnings. The cash flow impact of our derivatives is included in the same category in our Consolidated Statement of Cash Flows as the cash flows of the related hedged items. Notional amounts are used to measure the volume of foreign currency forward contracts and do not represent exposure to foreign currency losses. At January 3, 2020 , we had open foreign currency forward contracts with an aggregate notional amount of $511 million denominated in the Euro, British Pound, Australian Dollar, Canadian Dollar and United Arab Emirates Dirham to hedge certain forecasted transactions. At January 3, 2020 , our foreign currency forward contracts had maturities through 2023 . The table below presents the fair values of our derivatives designated as foreign currency hedging instruments in our Consolidated Balance Sheet at January 3, 2020 . As of the end of fiscal 2019 , 2018 and 2017 , the fair values of our derivatives designated as foreign currency hedging instruments were not material. January 3, 2020 (In millions) Derivatives designated as hedging instruments: Foreign currency forward contracts Other current assets $ 8 Other non-current assets 2 Other accrued items 6 Other long-term liabilities 2 During the two quarters ended January 3, 2020 , we recognized a net unrealized gain of $3 million before income taxes in other comprehensive income from foreign currency derivatives designated as cash flow hedges. During fiscal 2019 , 2018 and 2017 , the net unrealized gain or loss recognized in other comprehensive income from foreign currency derivatives designated as cash flow hedges was not material. During the two quarters ended January 3, 2020 and fiscal 2019 , 2018 and 2017 , the net gain or loss reclassified from “Accumulated other comprehensive loss” into earnings from foreign currency derivatives designated as cash flow hedges was not material. Gains and losses from foreign currency derivatives designated as cash flow hedges are included in the line item in our Consolidated Statement of Income associated with the hedged transaction, with the exception of the losses resulting from discontinued cash flow hedges, which are included in the “Engineering, selling and administrative expenses” line item in our Consolidated Statement of Income. At January 3, 2020 , the estimated amount of existing gains to be reclassified into earnings within the next twelve months was $2 million before income taxes. Interest-Rate Risk — Cash Flow Hedges At January 3, 2020 , we had two treasury lock agreements (“treasury locks”) with third-party financial institution counterparties with a combined notional amount of $650 million that were classified as cash flow hedges, which were assumed in connection with the L3Harris Merger. These treasury locks were initiated in January 2019 to hedge against fluctuations in interest payments due to changes in the benchmark interest rate (10-year U.S. Treasury rate) associated with the anticipated issuance of long-term fixed-rate notes (“New Notes”) to redeem or repay at maturity the entire $650 million outstanding principal amount of our 4.95% 2021 Notes. We designated these treasury locks as cash flow hedges against fluctuations in interest payments on the New Notes due to changes in the benchmark interest rate prior to issuance, which we expected to occur before the date of maturity of the 4.95% 2021 Notes. If the benchmark interest rate increases during the period of the agreement, the treasury locks position becomes an asset and we receive a cash payment from the counterparty when we terminate the treasury locks upon issuance of the New Notes. Conversely, if the benchmark interest rate decreases, the treasury locks position becomes a liability and we make a cash payment to the counterparty when we terminate the treasury locks upon issuance of the New Notes. The fair value of the treasury locks is measured using a pricing model that utilizes observable market data such as the benchmark interest rate. At January 3, 2020 , the combined fair value of these treasury locks was a liability of $56 million , which was categorized in Level 2 of the fair value hierarchy and recorded in the “Other long-term liabilities” line item in our Consolidated Balance Sheet. The unrealized after-tax loss associated with these treasury locks included in the “Accumulated other comprehensive loss” line item in our Consolidated Balance Sheet was $16 million at January 3, 2020 . We recognized a $35 million liability for these treasury locks as part of our purchase accounting for the L3Harris Merger. On November 27, 2019, in order to fund our optional redemption of the 2.7% 2020 Notes as described in Note 14: Debt in these Notes, we completed the issuance of $400 million in aggregate principal amount of the 2.900% 2029 Notes. In January 2019, we initiated a treasury lock to hedge against fluctuations in interest payments due to changes in the benchmark interest rate (10-year U.S. Treasury rate) associated with the anticipated issuance of debt to redeem or repay the 2.7% 2020 Notes. This treasury lock was terminated as planned in connection with our issuance of the 2.900% 2029 notes during the quarter ended January 3, 2020 , and because interest rates decreased during the period of the treasury lock, we made a cash payment to our counterparty and recorded an after-tax loss of $24 million in the “Accumulated other comprehensive loss” line item of our Consolidated Balance Sheet. The accumulated other comprehensive loss balance will be amortized to interest expense over the life of the 2.900% 2029 Notes. We classified the cash outflow from the termination of this treasury lock as cash used in financing activities in our Consolidated Statement of Cash Flows. At June 28, 2019 , the fair value of this treasury lock was a liability of $26 million , which was categorized in Level 2 of the fair value hierarchy and recorded in the “Other accrued items” line item in our Consolidated Balance Sheet with a corresponding unrealized after-tax loss of $20 million included in the “Accumulated other comprehensive loss” line item in our Consolidated Balance Sheet. The net gains or losses from cash flow hedges recognized in earnings were not material for the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017. We had no open treasury locks at the end of fiscal 2018 or 2017 . Credit Risk We are exposed to the risk of credit losses from non-performance by counterparties to the financial instruments discussed above, but we do not expect any of the counterparties to fail to meet their obligations. To manage credit risks, we select counterparties based on credit ratings, limit our exposure to any single counterparty under defined guidelines and monitor the market position with each counterparty.

NON-OPERATING INCOME

NON-OPERATING INCOME	6 Months Ended
	Jan. 03, 2020
Nonoperating Income (Expense) [Abstract]
NON-OPERATING INCOME	NOTE 21: NON-OPERATING INCOME The components of non-operating income were as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Pension adjustment (1) $ 172 $ 186 $ 184 $ 164 Gain on pension plan curtailment 23 — — — Loss on extinguishment of debt (2) (2 ) — (24 ) — Adjustment to gain on sale of business — — — 2 Other (1 ) 2 (4 ) — $ 192 $ 188 $ 156 $ 166 _______________ (1) The non-service components of net periodic pension and postretirement benefit costs include interest cost, expected return on plan assets, amortization of net actuarial gain or loss and effect of curtailments or settlements. (2) Losses associated with our optional redemption of the entire outstanding $400 million principal amount of our 2.7% 2020 Notes in the two quarters ended January 3, 2020 and our optional redemption of the entire outstanding $800 million aggregate principal amount of our 2018 Redeemed Notes, the repayment in full of $253 million in remaining outstanding indebtedness under the 5 -year tranche of our $1.3 billion senior unsecured term loan facility and the termination of our 2015 Credit Agreement in fiscal 2018. See. Note 14: Debt for additional information.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCI")	6 Months Ended
	Jan. 03, 2020
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS (AOCI)	NOTE 22: ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCI") The components of AOCI are summarized below: Foreign currency translation Net unrealized (losses) gains on hedging derivatives Unrecognized postretirement obligations Total AOCI (In millions) Balance at June 30, 2017 $ (113 ) $ (17 ) $ (146 ) $ (276 ) Other comprehensive income 13 1 122 136 Income taxes 2 — (29 ) (27 ) Other comprehensive income, net of tax 15 1 93 109 Reclassifications to retained earnings due to adoption of accounting standards update (1 ) (4 ) (30 ) (35 ) Balance at June 29, 2018 (99 ) (20 ) (83 ) (202 ) Other comprehensive loss (7 ) (24 ) (638 ) (669 ) Income taxes — 6 158 164 Other comprehensive loss, net of tax (7 ) (18 ) (480 ) (505 ) Balance at June 28, 2019 (106 ) (38 ) (563 ) (707 ) Other comprehensive income (loss) 25 (23 ) 231 233 Income taxes — 6 (53 ) (47 ) Other comprehensive income (loss), net of tax 25 (17 ) 178 186 Amounts reclassified to earnings from AOCI (1) — — 18 18 Income taxes — — (5 ) (5 ) Amounts reclassified to earnings from AOCI, net of tax — — 13 13 Balance at January 3, 2020 $ (81 ) $ (55 ) $ (372 ) $ (508 ) _______________ (1) Amounts reclassified to earnings from AOCI are included in the gain on sale of business and non-operating income line items in our Consolidated Statement of Income.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jan. 03, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 23: INCOME TAXES Income Tax Provision The provisions for current and deferred income taxes are summarized as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Current: United States $ 11 $ 105 $ (141 ) $ 117 International 37 9 12 9 State and local 16 8 (11 ) 6 64 122 (140 ) 132 Deferred: United States 33 15 324 121 International (15 ) (3 ) (3 ) 1 State and local (9 ) 26 25 7 9 38 346 129 $ 73 $ 160 $ 206 $ 261 The total income tax provision is summarized as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Continuing operations $ 73 $ 160 $ 206 $ 261 Discontinued operations — (1 ) (5 ) (110 ) Total income tax provision $ 73 $ 159 $ 201 $ 151 A reconciliation of the U.S. statutory income tax rate to our effective income tax rate follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 U.S. statutory income tax rate 21.0 % 21.0 % 28.1 % 35.0 % State taxes 1.4 2.4 1.9 1.0 International income 0.9 (0.5 ) (0.5 ) (1.3 ) Research and development tax credit (4.7 ) (4.5 ) (2.9 ) (2.0 ) Foreign derived intangibles income deduction (0.8 ) (1.3 ) — — Change in valuation allowance (4.8 ) (1.8 ) 0.2 (0.2 ) U.S. production activity benefit — — (0.9 ) (0.5 ) Equity-based compensation (1) (5.4 ) (2.1 ) (1.8 ) (2.6 ) Settlement of tax audits — — (2.2 ) — U.S. tax reform — — 0.4 — Other items 0.4 1.2 0.4 (0.1 ) Effective income tax rate 8.0 % 14.4 % 22.7 % 29.3 % _______________ (1) Includes non-deductible equity-based compensation and excess tax benefits from equity-based compensation As of January 3, 2020 , we estimate our outside basis difference in foreign subsidiaries that are considered indefinitely reinvested to be approximately $4 billion . The outside basis difference is comprised predominantly of purchase accounting adjustments and to a lesser extent, undistributed earnings and other equity adjustments. In the event of a disposition of the foreign subsidiaries or a distribution, we may be subject to incremental U.S. income taxes, subject to an adjustment for foreign tax credits, and withholding taxes or income taxes payable to the foreign jurisdictions. As of January 3, 2020 , the determination of the amount of unrecognized deferred tax liability related to the outside basis difference is not practicable. Tax Law Changes On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was signed into U.S. law. Among other provisions, the Tax Act reduced the U.S. statutory corporate income tax rate from a maximum 35 percent to a flat 21 percent , effective January 1, 2018. Based on our fiscal year end, our blended U.S. statutory corporate income tax rate for fiscal 2018 was 28.1 percent . This drop in the tax rate resulted in a one-time benefit of $26 million ( $.21 per diluted share) at the date of enactment. Additionally, we recognized expense of $8 million in fiscal 2018 to revalue our existing net deferred income tax balances. During the second quarter of fiscal 2019, we completed our accounting for the income tax impact of enactment of the Tax Act and there were no material changes from the estimates reported in our Current Report on Form 8-K filed with the SEC on December 13, 2018. The implementation of a modified territorial tax system under the Tax Act subjects us to tax on our Global Intangible Low-Taxed Income (“GILTI”) starting with fiscal 2019. The Financial Accounting Standards Board has permitted companies to make an accounting policy decision to either (1) treat taxes due on future GILTI inclusions in U.S. taxable income as a current-period expense when incurred (“period cost method”) or (2) factor such amounts into the measurement of its deferred taxes (“deferred method”). We have elected to use the period cost method. Deferred Income Tax Assets (Liabilities) The components of deferred income tax assets (liabilities) were as follows: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Deferred tax assets: Accruals $ 240 $ 152 $ 178 Tax loss and credit carryforwards 177 92 119 Share-based compensation 27 28 26 Capital loss carryforwards 44 95 101 Pension and other post-employment benefits 431 305 188 Operating lease obligation 213 — — Other 238 75 64 Valuation allowance (1) (185 ) (159 ) (181 ) Deferred tax assets, net 1,185 588 495 Deferred tax liabilities: Property, plant and equipment (159 ) (71 ) (65 ) Unbilled receivables (51 ) (65 ) (86 ) Acquired intangibles (2,037 ) (260 ) (268 ) Operating lease right-of-use asset (196 ) — — Other (121 ) (31 ) (36 ) Deferred tax liabilities (2,564 ) (427 ) (455 ) Net deferred tax assets (liabilities) $ (1,379 ) $ 161 $ 40 _______________ (1) The valuation allowance has been established to offset certain domestic and foreign deferred tax assets due to uncertainty regarding our ability to realize them in the future. Net deferred tax assets (liabilities) were classified as follows in our Consolidated Balance Sheet: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Non-current deferred income tax assets $ 102 $ 173 $ 119 Non-current deferred income tax liabilities (1,481 ) (12 ) (79 ) $ (1,379 ) $ 161 $ 40 Tax loss and credit carryforwards at January 3, 2020 have expiration dates ranging from less than one year and no expiration in certain instances. The tax-effected amounts of federal, international, and state and local operating loss carryforwards at January 3, 2020 were $8 million , $46 million and $28 million , respectively. The tax-effected amounts of federal and state and local capital loss carryforwards at January 3, 2020 were $24 million and $21 million , respectively. The amounts of federal, international, and state and local credit carryforwards at January 3, 2020 were $6 million , $14 million and $78 million , respectively Income from continuing operations before income taxes of international subsidiaries was $96 million in the two quarters ended January 3, 2020 . Income from continuing operations before income taxes of international subsidiaries was $37 million , $43 million and $42 million in fiscal 2019 , 2018 and 2017 , respectively. We received $8 million in income tax refunds, net of income taxes paid, in the two quarters ended January 3, 2020 ; paid $137 million in income tax, net of refunds received, in fiscal 2019 ; received $8 million in income tax refunds, net of income taxes paid, in fiscal 2018 ; and paid $51 million , net of refunds received, in fiscal 2017 . Tax Uncertainties A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Balance at beginning of period $ 204 $ 102 $ 90 $ 63 Additions based on tax positions taken during current period 35 31 17 52 Additions based on tax positions taken during prior periods — 80 23 — Additions for tax positions related to acquired entities 226 — — — Decreases based on tax positions taken during prior periods (7 ) (9 ) (28 ) (25 ) Decreases from lapse in statutes of limitations (20 ) — — — Balance at end of period $ 438 $ 204 $ 102 $ 90 As of January 3, 2020 , we had $438 million of unrecognized tax benefits, of which $313 million would favorably impact our future tax rates in the event that the tax benefits are eventually recognized. As of June 28, 2019 , we had $204 million of unrecognized tax benefits, of which $162 million would favorably impact our future tax rates in the event that the tax benefits are eventually recognized. As of June 29, 2018 , we had $102 million of unrecognized tax benefits, of which $92 million would favorably impact our future tax rates in the event that the tax benefits are eventually recognized. We recognize accrued interest and penalties related to unrecognized tax benefits as part of our income tax expense. We had accrued $31 million for the potential payment of interest and penalties as of January 3, 2020 (and this amount was not included in the $438 million of unrecognized tax benefits balance at January 3, 2020 shown above). We had accrued $3 million for the potential payment of interest and penalties as of June 28, 2019 (and this amount was not included in the $204 million of unrecognized tax benefits balance at June 28, 2019 shown above). We had accrued $4 million for the potential payment of interest and penalties as of June 29, 2018 (and this amount was not included in the $102 million of unrecognized tax benefits balance at June 29, 2018 shown above). We file numerous separate and consolidated income tax returns reporting our financial results and, where appropriate, those of our subsidiaries and affiliates, in the U.S. Federal jurisdiction and various state, local and foreign jurisdictions. Pursuant to the Compliance Assurance Process, the IRS is examining the Harris federal tax returns for fiscal 2017 and 2018 and refund claims related to fiscal 2010 through 2016. In addition, legacy L3’s federal tax returns for calendar years 2017 and 2018 and refund claims related to calendar years 2015 and 2016 are currently under IRS examination. The Canadian Revenue Agency is currently examining our returns for fiscal 2014 through fiscal 2016, and we are still negotiating the provincial portions of a Canadian assessment relating to fiscal 2000 through fiscal 2006. We are currently under examination or contesting proposed adjustments by various state and international tax authorities for fiscal years ranging from 2010 through 2018. It is reasonably possible that there could be a significant decrease or increase to our unrecognized tax benefit balance during the course of the next twelve months as these examinations continue, other tax examinations commence or various statutes of limitations expire. An estimate of the range of possible changes cannot be made for remaining unrecognized tax benefits because of the significant number of jurisdictions in which we do business and the number of open tax periods.

BACKLOG

BACKLOG	6 Months Ended
	Jan. 03, 2020
Revenue from Contract with Customer [Abstract]
BACKLOG	NOTE 7: CONTRACT ASSETS AND CONTRACT LIABILITIES Contract assets include unbilled amounts typically resulting from revenue recognized exceeding amounts billed to customers for contracts utilizing the POC cost-to-cost revenue recognition method. We bill customers as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals, upon achievement of contractual milestones or upon deliveries and, in certain arrangements, the customer may withhold payment of a small portion of the contract price until contract completion. Contract liabilities include advance payments and billings in excess of revenue recognized, including deferred revenue associated with extended product warranties. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. The increase in contract assets and contract liabilities in the two quarters ended January 3, 2020 was primarily due to contract assets and liabilities acquired in connection with the L3Harris Merger. Changes in contract asset and contract liability balances in the two quarters ended January 3, 2020 were not materially impacted by any factors other than those described above. Contract assets and contract liabilities are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Contract assets $ 2,459 $ 807 $ 782 Contract liabilities, current (1,214 ) (496 ) (372 ) Contract liabilities, noncurrent (1) (87 ) (42 ) (35 ) Net contract assets $ 1,158 $ 269 $ 375 _______________ (1) The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Consolidated Balance Sheet. The components of contract assets are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Unbilled contract receivables, gross $ 3,690 $ 916 $ 881 Progress payments (1,231 ) (109 ) (99 ) $ 2,459 $ 807 $ 782 Impairment losses related to our contract assets were not material during the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 . In the two quarters ended January 3, 2020 , we recognized $776 million of revenue related to contract liabilities that were outstanding at the end of fiscal 2019. In fiscal 2019 , 2018 and 2017 , we recognized $287 million , $204 million and $221 million , respectively , NOTE 24: BACKLOG Backlog, which is the equivalent of our remaining performance obligations, represents the future revenue we expect to recognize as we perform on our current contracts. Backlog comprises both funded backlog (i.e., firm orders for which funding is authorized and appropriated) and unfunded backlog. Backlog excludes unexercised contract options and potential orders under ordering-type contracts, such as IDIQ contracts. At January 3, 2020 , our ending backlog was $20.6 billion . We expect to recognize approximately 60 percent of the revenue associated with this backlog within the next twelve months and the substantial majority of the revenue associated with this backlog within the next three years . At June 28, 2019 , our ending backlog was $8.3 billion , at which time we expected to recognize approximately half of the revenue associated with this backlog within the next twelve months and the substantial majority of the revenue associated with this backlog within the next three years

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jan. 03, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENTS	NOTE 25: BUSINESS SEGMENTS During the two quarters ended January 3, 2020 , we adjusted our segment reporting to reflect our new organizational structure announced July 1, 2019. We structure our operations primarily around the products and services we sell and the markets we serve, and effective June 29, 2019, we report the financial results of our operations in the following four operating segments, which are also our reportable segments and are referred to as our business segments: • Integrated Mission Systems, including multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions; • Space and Airborne Systems, including space payloads, sensors and full-mission solutions; classified intelligence and cyber defense; avionics; and electronic warfare; • Communication Systems, including tactical communications; broadband communications; integrated vision solutions; and public safety; and • Aviation Systems, including defense aviation products; security, detection and other commercial aviation products; commercial and military pilot training; and mission networks for air traffic management. The historical results, discussion and presentation of our business segments as set forth in our Consolidated Financial Statements and these Notes reflect the impact of these adjustments to our segment reporting for all periods presented in order to present the segment information on a comparable basis. There is no impact on our previously reported consolidated statements of income, balance sheets, statements of cash flows or statements of equity resulting from these adjustments. Segment revenue, segment operating income and a reconciliation of segment operating income to total income from continuing operations before income taxes are as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue Integrated Mission Systems $ 2,774 $ 48 $ 45 $ 38 Space and Airborne Systems 2,360 3,715 3,304 3,156 Communication Systems 2,151 2,208 2,015 1,891 Aviation Systems 2,038 672 668 697 Other non-reportable business segments (1) 23 165 148 121 Corporate eliminations (83 ) (7 ) (12 ) (6 ) $ 9,263 $ 6,801 $ 6,168 $ 5,897 Income from Continuing Operations before Income Taxes Segment Operating Income: Integrated Mission Systems $ 377 $ 9 $ 7 $ 7 Space and Airborne Systems 442 697 628 559 Communication Systems 493 637 561 522 Aviation Systems 289 76 54 131 Other business activities and non-reportable business segments (1) — 27 20 9 Unallocated corporate expenses and corporate eliminations (2) (140 ) (2 ) (65 ) (62 ) L3Harris Merger-related transaction and integration expenses and losses (390 ) (65 ) — — Amortization of acquisition-related intangibles (3) (289 ) (101 ) (101 ) (109 ) Gain on sale of business 229 — — — Pension adjustment (172 ) (186 ) (184 ) (164 ) Non-operating income 192 188 156 166 Net interest expense (123 ) (167 ) (168 ) (170 ) Total $ 908 $ 1,113 $ 908 $ 889 _______________ (1) Includes the operating results of the Harris Night Vision business prior to the date of divestiture on September 13, 2019 . See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for more information. (2) Includes: (i) $142 million of additional cost of sales related to the fair value step-up in inventory sold (see Note 5: Business Combination in these Notes for more information), a $12 million gain on the sale of an asset group and a $10 million non-cash cumulative adjustment to lease expense for the two quarters ended January 3, 2020 ; (ii) $47 million of charges related to our decision to transition and exit a commercial air-to-ground LTE radio communications line of business and other items, a $12 million non-cash adjustment for deferred compensation and $5 million of Exelis acquisition-related and other charges in fiscal 2018; and (iii) $58 million of Exelis acquisition-related and other charges in fiscal 2017. (3) Includes $239 million of amortization of identifiable intangible assets acquired as a result of the L3Harris Merger for the two quarters ended January 3, 2020 and $50 million , $101 million , $101 million and $109 million of amortization of identifiable intangible assets acquired as a result of our acquisition of Exelis for the two quarters ended January 3, 2020 and fiscal 2019, 2018 and 2017, respectively. Because the L3Harris Merger and the acquisition of Exelis benefited the entire Company as opposed to any individual segment, the amortization of identifiable intangible assets acquired was not allocated to any segment. Disaggregation of Revenue Integrated Mission Systems: Integrated Mission Systems revenue is primarily derived from U.S. Government development and production contracts and is generally recognized over time using the POC cost-to-cost revenue recognition method. We disaggregate Integrated Mission Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Integrated Mission Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship Prime contractor $ 1,904 $ 25 $ 20 $ 24 Subcontractor 870 23 25 14 $ 2,774 $ 48 $ 45 $ 38 Revenue By Contract Type Fixed-price (1) $ 2,138 $ 48 $ 45 $ 37 Cost-reimbursable 636 — — 1 $ 2,774 $ 48 $ 45 $ 38 Revenue By Geographical Region United States $ 2,300 $ 30 $ 39 $ 27 International 474 18 6 11 $ 2,774 $ 48 $ 45 $ 38 _______________ (1) Includes revenue derived from time-and-materials contracts. Space and Airborne Systems: Space and Airborne Systems revenue is primarily derived from U.S. Government development and production contracts and is generally recognized over time using the POC cost-to-cost revenue recognition method. We disaggregate Space and Airborne Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Space and Airborne Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship Prime contractor $ 1,337 $ 2,246 $ 2,159 $ 2,067 Subcontractor 1,023 1,469 1,145 1,089 $ 2,360 $ 3,715 $ 3,304 $ 3,156 Revenue By Contract Type Fixed-price (1) $ 1,367 $ 2,097 $ 1,634 $ 1,390 Cost-reimbursable 993 1,618 1,670 1,766 $ 2,360 $ 3,715 $ 3,304 $ 3,156 Revenue By Geographical Region United States $ 2,037 $ 3,255 $ 2,937 $ 2,782 International 323 460 367 374 $ 2,360 $ 3,715 $ 3,304 $ 3,156 _______________ (1) Includes revenue derived from time-and-materials contracts. Communication Systems: Communication Systems revenue is primarily derived from fixed-price contracts and is generally recognized at the point in time when products are received and accepted by the customer for standard products offered to multiple customers and over time for customer-specific products, systems and services. We disaggregate Communication Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Communication Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship (1) Prime contractor $ 1,406 Subcontractor 745 $ 2,151 Revenue By Contract Type (1) Fixed-price (2) $ 1,849 Cost-reimbursable 302 $ 2,151 Revenue By Geographical Region United States $ 1,518 $ 1,281 $ 1,031 $ 880 International 633 927 984 1,011 $ 2,151 $ 2,208 $ 2,015 $ 1,891 _______________ (1) Prior to the L3Harris Merger, Communication Systems did not recognize significant revenue for customer-specific products and systems, and currently, such customer arrangements primarily exist at operating businesses acquired in connection with the L3Harris Merger. The “Revenue by Customer Relationship” and “Revenue by Contract Type” disaggregation categories were added beginning in the Fiscal Transition Period to best depict how the nature, amount, timing and uncertainty of revenue and cash flows from these types of customer arrangements are affected by economic factors. (2) Includes revenue derived from time-and-materials contracts. Aviation Systems: Aviation Systems revenue is primarily derived from fixed-price contracts and is generally recognized at the point in time when products are received and accepted by the customer for standard products offered to multiple customers and over time for customer-specific products, systems and services. We disaggregate Aviation Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Aviation Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship Prime contractor $ 1,246 $ 654 $ 656 $ 697 Subcontractor 792 18 12 — $ 2,038 $ 672 $ 668 $ 697 Revenue By Contract Type Fixed-price (1) $ 1,688 $ 587 $ 582 $ 636 Cost-reimbursable 350 85 86 61 $ 2,038 $ 672 $ 668 $ 697 Revenue By Geographical Region United States $ 1,514 $ 644 $ 627 $ 647 International 524 28 41 50 $ 2,038 $ 672 $ 668 $ 697 ______________ (1) Includes revenue derived from time-and-materials contracts. Total assets by business segment is as follows: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Total Assets Integrated Mission Systems $ 7,896 $ 87 $ 90 Space and Airborne Systems 6,829 5,027 4,953 Communication Systems 5,930 1,683 1,724 Aviation Systems 7,569 1,036 1,046 Corporate (1) 10,112 2,284 2,038 $ 38,336 $ 10,117 $ 9,851 _______________ (1) Identifiable intangible assets acquired in connection with the L3Harris Merger in the two quarters ended January 3, 2020 and our acquisition of Exelis in fiscal 2015 were recorded as Corporate assets because they benefited the entire Company as opposed to any individual segment. Identifiable intangible asset balances recorded as Corporate assets were approximately $8.5 billion , $869 million and $974 million at January 3, 2020 , June 28, 2019 and June 29, 2018, respectively. Corporate assets also consisted of cash, income taxes receivable, deferred income taxes, deferred compensation plan investments, buildings and equipment, as well as any assets of discontinued operations and divestitures. See Note 3: Divestitures, Asset Sales and Discontinued Operations for additional information. Other selected financial information by business segment and geographical area is summarized below: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Capital Expenditures Integrated Mission Systems $ 29 $ 1 $ 1 $ — Space and Airborne Systems 36 48 49 49 Communication Systems 22 29 25 16 Aviation Systems 64 54 37 22 Other non-reportable business segments (1) — 6 4 1 Corporate 22 23 20 27 Discontinued operations — — — 4 $ 173 $ 161 $ 136 $ 119 Depreciation and Amortization Integrated Mission Systems $ 37 $ 2 $ 2 $ 2 Space and Airborne Systems 31 50 54 55 Communication Systems 32 49 54 60 Aviation Systems 53 29 22 5 Other non-reportable business segments (1) — 3 5 8 Corporate 289 125 122 142 Discontinued operations — — — 39 $ 442 $ 258 $ 259 $ 311 Geographical Information for Continuing Operations U.S. operations: Revenue $ 8,485 $ 6,530 $ 5,854 $ 5,637 Long-lived assets $ 1865 $ 866 $ 892 $ 896 International operations: Revenue $ 778 $ 271 $ 314 $ 260 Long-lived assets $ 252 $ 28 $ 8 $ 8 _______________ (1) Includes capital expenditures and depreciation and amortization of the Harris Night Vision business prior to the date of divestiture on September 13, 2019 . See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for more information. In addition to depreciation and amortization expense related to property, plant and equipment, “Depreciation and Amortization” in the table above also includes $285 million of amortization related to intangible assets, debt premium, debt discount, debt issuance costs and other items for the two quarters ended January 3, 2020 . “Depreciation and Amortization” in the table above also includes amortization related to intangible assets, debt premium, debt discount and debt issuance costs of $120 million , $116 million and $125 million in fiscal 2019 , 2018 and 2017 , respectively. Our products and systems are produced principally in the U.S. with international revenue derived primarily from exports. No revenue earned from any individual foreign country exceeded 5 percent of our total revenue during the two quarters ended January 3, 2020 or fiscal 2019 , 2018 or 2017 . Sales made to U.S. Government customers, including foreign military sales funded through the U.S. Government, whether directly or through prime contractors, by all segments as a percentage of total revenue were 73 percent in the two quarters ended January 3, 2020 and 77 percent , 75 percent and 74 percent in fiscal 2019 , 2018 and 2017 , respectively. Revenue from services in the two quarters ended January 3, 2020 was approximately 32 percent , 16 percent , 15 percent and 39 percent of total revenue in our Integrated Mission Systems, Space and Airborne Systems, Communication Systems and Aviation Systems segments, respectively. Revenue from products and services where the end consumer is located outside the U.S., including foreign military sales through the U.S. Government, was $2.0 billion ( 21 percent of our revenue) in the two quarters ended January 3, 2020 . Revenue from products and services where the end consumer is located outside the U.S., including foreign military sales through the U.S. Government, was $1.5 billion ( 22 percent of our revenue), $1.4 billion ( 23 percent of our revenue) and $1.5 billion ( 25 percent of our revenue) in fiscal 2019 , 2018 and 2017 , respectively. Export revenue and revenue from international operations in the two quarters ended January 3, 2020 was principally from the EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific) regions and Canada .

LEGAL PROCEEDINGS AND CONTINGEN

LEGAL PROCEEDINGS AND CONTINGENCIES	6 Months Ended
	Jan. 03, 2020
Legal Proceedings And Contingencies [Abstract]
LEGAL PROCEEDINGS AND CONTINGENCIES	NOTE 26: LEGAL PROCEEDINGS AND CONTINGENCIES From time to time, as a normal incident of the nature and kind of businesses in which we are or were engaged, various claims or charges are asserted and litigation or arbitration is commenced by or against us arising from or related to matters, including but not limited to: product liability; personal injury; patents, trademarks, trade secrets or other intellectual property; labor and employee disputes; commercial or contractual disputes; strategic acquisitions or divestitures; the prior sale or use of former products allegedly containing asbestos or other restricted materials; breach of warranty; or environmental matters. Claimed amounts against us may be substantial, but may not bear any reasonable relationship to the merits of the claim or the extent of any real risk of court or arbitral awards. We record accruals for losses related to those matters against us that we consider to be probable and that can be reasonably estimated. Gain contingencies, if any, are recognized when they are realized and legal costs generally are expensed when incurred. At January 3, 2020 , our accrual for the potential resolution of lawsuits, claims or proceedings that we consider probable of being decided unfavorably to us was not material. Although it is not feasible to predict the outcome of these matters with certainty, it is reasonably possible that some lawsuits, claims or proceedings may be disposed of or decided unfavorably to us and in excess of the amounts currently accrued. Based on available information, in the opinion of management, settlements, arbitration awards and final judgments, if any, which are considered probable of being rendered against us in litigation or arbitration in existence at January 3, 2020 are reserved against or would not have a material adverse effect on our financial condition, results of operations or cash flows. Tax Audits Our tax filings are subject to audit by taxing authorities in jurisdictions where we conduct or conducted business. These audits may result in assessments of additional taxes that are subsequently resolved with the authorities or ultimately through legal proceedings. We believe we have adequately accrued for any ultimate amounts that are likely to result from these audits; however, final assessments, if any, could be different from the amounts recorded in our Consolidated Financial Statements. Additional information regarding audits and examinations by taxing authorities of our tax filings is set forth in Note 23: Income Taxes . International As an international company, we are, from time to time, the subject of investigations relating to our international operations, including under U.S. export control laws (such as ITAR), the FCPA and other similar U.S. and international laws. In September 2019, we reached an administrative settlement with the Department of State to resolve alleged U.S. export control regulation violations. Under the terms of the settlement we have committed to strengthen our trade compliance program under the supervision of a special compliance officer and will pay a civil penalty of $13 million over three years (with $7 million suspended on the condition of use for qualified remedial compliance measures). The settlement did not result in any debarment or limitation on export licensing. Environmental Matters We are subject to numerous U.S. Federal, state, local and international environmental laws and regulatory requirements and are involved from time to time in investigations or litigation of various potential environmental issues. We or companies we have acquired are responsible, or alleged to be responsible, for environmental investigation and/or remediation of multiple sites. These sites are in various stages of investigation and/or remediation and in some cases our liability is considered de minimis. Notices from the U.S. Environmental Protection Agency (“EPA”) or equivalent state or international environmental agencies allege that a number of sites formerly or currently owned and/or operated by us or companies we have acquired, and other properties or water supplies that may be or have been impacted from those operations, contain disposed or recycled materials or wastes and require environmental investigation and/or remediation. These sites include instances of us being identified as a potentially responsible party under the Comprehensive Environmental Response, Compensation and Liability Act (commonly known as the “Superfund Act”) and/or equivalent state and international laws. For example, in June 2014, the Department of Justice, Environment and Natural Resources Division, notified several potentially responsible parties, including Exelis, of potential responsibility for contribution to the environmental investigation and remediation of multiple locations in Alaska. In addition, in March 2016, the EPA notified over 100 potentially responsible parties, including Exelis, of potential liability for the cost of remediation for the 8.3 -mile stretch of the Lower Passaic River, estimated by the EPA to be $1.38 billion , but the parties’ respective allocations have not been determined. Although it is not feasible to predict the outcome of environmental claims, based on available information, in the opinion of our management, any payments we may be required to make as a result of environmental claims in existence at January 3, 2020 are reserved against, covered by insurance or would not have a material adverse effect on our financial condition, results of operations or cash flows.

TRANSITION PERIOD COMPARATIVE D

TRANSITION PERIOD COMPARATIVE DATA (UNAUDITED)	6 Months Ended
	Jan. 03, 2020
Condensed Financial Information Disclosure [Abstract]
TRANSITION PERIOD COMPARATIVE DATA (UNAUDITED)	NOTE 27: TRANSITION PERIOD COMPARATIVE DATA (UNAUDITED) The following table presents certain comparative financial information for the two quarters ended January 3, 2020 and two quarters ended December 28, 2018 : Two Quarters Ended January 3, 2020 December 28, 2018 (In millions, except per share amounts) Revenue from product sales and services $ 9,263 $ 3,208 Cost of product sales and services (6,726 ) (2,105 ) Engineering, selling and administrative expenses (1,927 ) (583 ) Gain on sale of business 229 — Non-operating income 192 94 Interest income 12 1 Interest expense (135 ) (87 ) Income from continuing operations before income taxes 908 528 Income taxes (73 ) (87 ) Income from continuing operations 835 441 Discontinued operations, net of income taxes (1 ) (3 ) Net income 834 438 Noncontrolling interests, net of income taxes (12 ) — Net income attributable to L3Harris Technologies, Inc. $ 822 $ 438 Net income per common share attributable to L3Harris Technologies, Inc. common shareholders Basic Continuing operations $ 3.72 $ 3.74 Discontinued operations — (0.03 ) $ 3.72 $ 3.71 Diluted Continuing operations $ 3.68 $ 3.66 Discontinued operations (0.01 ) (0.02 ) $ 3.67 $ 3.64 Basic weighted average common shares outstanding 221.2 117.8 Diluted weighted average common shares outstanding 223.7 120.3

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jan. 03, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 28: SUBSEQUENT EVENTS On February 4, 2020, we entered into a definitive agreement under which we will sell Security & Detection Systems and MacDonald Humfrey Automation solutions (“airport security and automation business”) to Leidos, Inc. for $1 billion in cash, subject to customary purchase price adjustments as set forth in the definitive agreement. The sale transaction is conditioned on customary closing conditions, including receipt of regulatory approvals. We expect the sale transaction to close in mid-2020; however, there can be no assurances that the conditions will be satisfied (or waived, if applicable) or that closing will occur in mid-2020 or at all. We intend to use the proceeds from the sale of the airport security and automation business to repurchase shares of our common stock. The airport security and automation business provides solutions used by the aviation and transportation industries, regulatory and customs authorities, government and law enforcement agencies and commercial and other high-security facilities. The decision to divest the airport security and automation business represented a significant milestone in our strategic priority to reshape our portfolio and focus our resources on core technologies following the L3Harris Merger. The airport security and automation business had approximately $500 million in annual revenue. Because the expected disposal did not meet the held for sale criteria as of January 3, 2020, the assets and liabilities of the airport security and automation business were not classified as held for sale in our Consolidated Balance Sheet at January 3, 2020. We do not expect the divestiture of the airport security and automation business will have a significant impact on our financial condition, results of operations or cash flows.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jan. 03, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation — Our Consolidated Financial Statements include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these Notes to Consolidated Financial Statements (these “Notes”), the terms “L3Harris,” “Company,” “we,” “our” and “us” refer to L3Harris Technologies, Inc. and its consolidated subsidiaries. Intracompany transactions and accounts have been eliminated. On October 12, 2018, Harris Corporation, a Delaware corporation (“Harris”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with L3 Technologies, Inc., a Delaware corporation (“L3”), and Leopard Merger Sub Inc., a Delaware corporation and a newly formed, direct wholly owned subsidiary of Harris (“Merger Sub”), pursuant to which Harris and L3 agreed to combine their respective businesses in an all-stock merger, at the closing of which Merger Sub would merge with and into L3, with L3 continuing as the surviving corporation and a direct wholly-owned subsidiary of Harris (the “L3Harris Merger”). The closing of the L3Harris Merger occurred on June 29, 2019 (“Closing Date”), after the end of Harris’ fiscal 2019 on June 28, 2019. Upon completion of the L3Harris Merger, Harris was renamed “L3Harris Technologies, Inc.”, and each share of L3 common stock converted into the right to receive 1.30 shares (“Exchange Ratio”) of L3Harris common stock. Shares of L3Harris common stock, which previously traded under ticker symbol “HRS” on the New York Stock Exchange (“NYSE”) prior to completion of the L3Harris Merger, are traded under ticker symbol “LHX” following completion of the L3Harris Merger. L3Harris was owned on a fully diluted basis approximately 54 percent by Harris shareholders and 46 percent by L3 shareholders immediately following the completion of the L3Harris Merger. We are accounting for the L3Harris Merger under the acquisition method of accounting. Under the acquisition method of accounting, we are required to measure identifiable assets acquired, liabilities assumed and any noncontrolling interests in the acquiree at their fair values as of the Closing Date. The excess of the consideration transferred over those fair values is recorded as goodwill. See Note 5: Business Combination in these Notes for additional information related to the L3Harris Merger. We implemented a new organizational structure effective on June 29, 2019, which resulted in changes to our operating segments, which are also reportable segments and referred to as our business segments. The historical results, discussion and presentation of our business segments as set forth in the accompanying Consolidated Financial Statements and these Notes reflect the impact of these changes for all periods presented in order to present segment information on a comparable basis. There is no impact on our previously reported consolidated statements of income, balance sheets, statements of cash flows or statements of equity resulting from these changes. On September 13, 2019, we completed the sale of the Harris Night Vision business to Elbit Systems of America, LLC, a subsidiary of Elbit Systems Ltd., for $350 million (net cash proceeds of $343 million after selling costs and estimated purchase price adjustments), subject to final customary purchase price adjustments as set forth in the definitive agreement. The Harris Night Vision business was not included in any of the business segments in our new organizational structure and the operating results of the Harris Night Vision business through the date of the divestiture are discussed and presented as part of “Other non-reportable business segments” in this Report. See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for more information regarding the divestiture of the Harris Night Vision business. Amounts contained in this Report may not always add to totals due to rounding.
Fiscal Year	Fiscal Year — This Transition Report on Form 10-KT covers the transition period from June 29, 2019 through January 3, 2020 (“Fiscal Transition Period”). Through fiscal 2019, our fiscal year ended on the Friday nearest June 30. Commencing with the Fiscal Transition Period, our fiscal year ends on the Friday nearest December 31. Our Fiscal Transition Period included 27 weeks and each of our fiscal years ended June 28, 2019 , June 29, 2018 and June 30, 2017 included 52 weeks. Prior year financial information comparable to the Fiscal Transition Period for the two quarters ended December 28, 2018 represent the unaudited prior two quarters period results for the comparative period ended December 28, 2018 , which included 26 weeks. See
Use of Estimates	Use of Estimates — The preparation of financial statements in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in the accompanying Consolidated Financial Statements and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Consolidated Financial Statements and these Notes. Materially different results can occur as circumstances change and additional information becomes known.
Cash and Cash Equivalents	Cash and Cash Equivalents — Cash equivalents are temporary cash investments with a maturity of three or fewer months when purchased. These investments include accrued interest and are carried at the lower of cost or market.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Fair Value Measurements	Fair Value Measurements — Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal market (or most advantageous market, in the absence of a principal market) for the asset or liability in an orderly transaction between market participants at the measurement date. Entities are required to maximize the use of observable inputs and minimize the use of unobservable inputs in measuring fair value, and to utilize a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of inputs used to measure fair value are as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included within Level 1, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs other than quoted prices that are observable or are derived principally from, or corroborated by, observable market data by correlation or other means. • Level 3 — Unobservable inputs that are supported by little or no market activity, are significant to the fair value of the assets or liabilities, and reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability developed using the best information available in the circumstances. In certain instances, fair value is estimated using quoted market prices obtained from external pricing services. In obtaining such data from the pricing service, we have evaluated the methodologies used to develop the estimate of fair value in order to assess whether such valuations are representative of fair value, including net asset value (“NAV”). Additionally, in certain circumstances, the NAV reported by an asset manager may be adjusted when sufficient evidence indicates NAV is not representative of fair value.
Accounts Receivable	Accounts Receivable
Contract Assets and Liabilities, Costs to Obtain or Fulfill a Contract and Revenue Recognition	Contract Assets and Liabilities — The timing of revenue recognition, customer billings and cash collections results in accounts receivable, contract assets and contract liabilities at the end of each reporting period. Contract assets include unbilled amounts typically resulting from revenue recognized exceeding amounts billed to customers for contracts utilizing the percentage of completion (“POC”) cost-to-cost revenue recognition method. We bill customers as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals, upon achievement of contractual milestones or upon deliveries and, in certain arrangements, the customer may withhold payment of a small portion of the contract price until contract completion. Contract liabilities include advance payments and billings in excess of revenue recognized, including deferred revenue. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. The non-current portion of contract liabilities is included within the “Other long-term liabilities” line item in our Consolidated Balance Sheet. Contract assets related to amounts withheld by customers until contract completion are not considered a significant financing component of our contracts because the intent is to protect the customers from our failure to satisfactorily complete our performance obligations. Payments received from customers in advance of revenue recognition are not considered a significant financing component of our contracts because they are utilized to pay for contract costs within a one Costs to Obtain or Fulfill a Contract — Costs to obtain a contract are incremental direct costs incurred to obtain a contract with a customer, including sales commissions and dealer fees, and are capitalized if material. Costs to fulfill a contract include costs directly related to a contract or specific anticipated contract (for example, mobilization, set-up and certain design costs) that generate or enhance our ability to satisfy our performance obligations under these contracts. These costs are capitalized to the extent they are expected to be recovered from the associated contract. Capitalized costs to obtain or fulfill a contract are amortized to expense over the expected period of benefit for contracts with terms greater than one year Bill-and-Hold Arrangements: For certain of our contracts, the finished product may temporarily be stored at our location under a bill-and-hold arrangement. Revenue is recognized on bill-and-hold arrangements at the point in time when the customer obtains control of the product and all of the following criteria have been met: the arrangement is substantive (for example, the customer has requested the arrangement); the product is identified separately as belonging to the customer; the product is ready for physical transfer to the customer; and we do not have the ability to use the product or direct it to another customer. In determining when the customer obtains control of the product, we consider certain indicators, including whether we have a present right to payment from the customer, whether title and/or significant risks and rewards of ownership have transferred to the customer and whether customer acceptance has been received (in the case of arrangements with customer acceptance provisions). Backlog: Backlog, which is the equivalent of our remaining performance obligations, represents the future revenue we expect to recognize as we perform on our current contracts. Backlog comprises both funded backlog (i.e., firm orders for which funding is authorized and appropriated) and unfunded backlog. Backlog excludes unexercised contract options and potential orders under ordering-type contracts, such as indefinite delivery, indefinite quantity (“IDIQ”) contracts. Revenue Recognition — We account for a contract when it has approval and commitment from all parties, the rights and payment terms of the parties can be identified, the contract has commercial substance and the collectibility of the consideration, or transaction price, is probable. Our contracts are often subsequently modified to include changes in specifications, requirements or price that may create new or change existing enforceable rights and obligations. We do not account for contract modifications (including unexercised options) or follow-on contracts until they meet the requirements noted above to account for a contract. At the inception of each contract, we evaluate the promised goods and services to determine whether the contract should be accounted for as having one or more performance obligations. A performance obligation is a promise to transfer a distinct good or service to a customer and represents the unit of accounting for revenue recognition. A substantial majority of our revenue is derived from long-term development and production contracts involving the design, development, manufacture or modification of aerospace and defense products and related services according to the customers’ specifications. Due to the highly interdependent and interrelated nature of the underlying goods and services and the significant service of integration that we provide, which often result in the delivery of multiple units, we account for these contracts as one performance obligation. For contracts that include both development/production and follow-on support services (for example, operations and maintenance), we generally consider the follow-on services distinct in the context of the contract and account for them as separate performance obligations. Additionally, a significant amount of our revenue is derived from contracts to provide multiple distinct goods to a customer where the goods can readily be sold to other customers based on their commercial nature and, accordingly, these goods are accounted for as separate performance obligations. Shipping and handling costs incurred after control of a product has transferred to the customer (for example, in free on board shipping arrangements) are treated as fulfillment costs and, therefore, are not accounted for as separate performance obligations. Also, we record taxes collected from customers and remitted to governmental authorities on a net basis in that they are excluded from revenue. As discussed above, our contracts are often subsequently modified to include changes in specifications, requirements or price. Depending on the nature of the modification, we consider whether to account for the modification as an adjustment to the existing contract or as a separate contract. Often, the deliverables in our contract modifications are not distinct from the existing contract due to the significant integration and interrelated tasks provided in the context of the contract. Therefore, such modifications are accounted for as if they were part of the existing contract, and we may be required to recognize a cumulative catch-up adjustment to revenue at the date of the contract modification. We determine the transaction price for each contract based on our best estimate of the consideration we expect to receive, which includes assumptions regarding variable consideration, such as award and incentive fees. These variable amounts are generally awarded upon achievement of certain negotiated performance metrics, program milestones or cost targets and can be based upon customer discretion. We include such estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. We estimate variable consideration primarily using the most likely amount method. For contracts with multiple performance obligations, we allocate the transaction price to each performance obligation based on the relative standalone selling price of the good or service underlying each performance obligation. The standalone selling price represents the amount for which we would sell the good or service to a customer on a standalone basis (i.e., not sold as a bundle with any other products or services). Our contracts with the U.S. Government, including foreign military sales contracts, are subject to the Federal Acquisition Regulations (“FAR”) and the prices of our contract deliverables are typically based on our estimated or actual costs plus a reasonable profit margin. As a result, the standalone selling prices of the goods and services in these contracts are typically equal to the selling prices stated in the contract, thereby, eliminating the need to allocate (or reallocate) the transaction price to the multiple performance obligations. In our non-U.S. Government contracts, we also generally use the expected cost plus a reasonable profit margin approach to determine standalone selling price. In addition, we determine standalone selling price for certain contracts that are commercial in nature based on observable selling prices. We recognize revenue for each performance obligation when (or as) the performance obligation is satisfied by transferring control of the promised goods or services underlying the performance obligation to the customer. The transfer of control can occur over time or at a point in time. Point in Time Revenue Recognition: Our performance obligations are satisfied at a point in time unless they meet at least one of the following criteria, in which case they are satisfied over time: • The customer simultaneously receives and consumes the benefits provided by our performance as we perform; • Our performance creates or enhances an asset (for example, work in process) that the customer controls as the asset is created or enhanced; or • Our performance does not create an asset with an alternative use to us, and we have an enforceable right to payment for performance completed to date. As noted above, a significant amount of our revenue is derived from contracts to provide multiple distinct goods to a customer that are commercial in nature and can readily be sold to other customers. These performance obligations do not meet any of the three criteria listed above to recognize revenue over time; therefore, we recognize revenue at a point in time, generally when the goods are received and accepted by the customer. Over Time Revenue Recognition: For U.S. Government development and production contracts, there is a continuous transfer of control of the asset to the customer as it is being produced based on FAR clauses in the contract that provide the customer with lien rights to work in process and allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. This also typically applies to our contracts with prime contractors for U.S. Government development and production contracts, when the above-described FAR clauses are flowed down to us by the prime contractors. Our non-U.S. Government development and production contracts, including international direct commercial contracts and U.S. contracts with state and local agencies, utilities and commercial and transportation organizations, often do not include the FAR clauses described above. However, over time revenue recognition is typically supported either through our performance creating or enhancing an asset that the customer controls as it is created or enhanced or based on other contractual provisions or relevant laws that provide us with an enforceable right to payment for our work performed to date plus a reasonable profit if our customer were permitted to and did terminate the contract for reasons other than our failure to perform as promised. Revenue for our development and production contracts is recognized over time, typically using the POC cost-to-cost method, whereby we measure our progress towards completion of the performance obligation based on the ratio of costs incurred to date to estimated costs at completion under the contract. Because costs incurred represent work performed, we believe this method best depicts transfer of control of the asset to the customer. For performance obligations to provide services that are satisfied over time, we recognize revenue either on a straight-line basis, the POC cost-to-cost method, or based on the right-to-invoice method (i.e., based on our right to bill the customer), depending on which method best depicts transfer of control to the customer. Contract Estimates: Under the POC cost-to-cost method of revenue recognition, a single estimated profit margin is used to recognize profit for each performance obligation over its period of performance. Recognition of profit on a contract requires estimates of the total cost at completion and transaction price and the measurement of progress towards completion. Due to the long-term nature of many of our contracts, developing the estimated total cost at completion and total transaction price often requires judgment. Factors that must be considered in estimating the cost of the work to be completed include the nature and complexity of the work to be performed, subcontractor performance and the risk and impact of delayed performance. Factors that must be considered in estimating the total transaction price include contractual cost or performance incentives (such as incentive fees, award fees and penalties) and other forms of variable consideration as well as our historical experience and our expectation for performance on the contract. At the outset of each contract, we gauge its complexity and perceived risks and establish an estimated total cost at completion in line with these expectations. After establishing the estimated total cost at completion, we follow a standard Estimate at Completion (“EAC”) process in which we review the progress and performance on our ongoing contracts at least quarterly and, in many cases, more frequently. If we successfully retire risks associated with the technical, schedule and cost aspects of a contract, we may lower our estimated total cost at completion commensurate with the retirement of these risks. Conversely, if we are not successful in retiring these risks, we may increase our estimated total cost at completion. Additionally, as the contract progresses, our estimates of total transaction price may increase or decrease if, for example, we receive award fees that are higher or lower than expected. When adjustments in estimated total costs at completion or in estimated total transaction price are determined, the related impact on operating income is recognized using the cumulative catch-up method, which recognizes in the current period the cumulative effect of such adjustments for all prior periods. Any anticipated losses on these contracts are fully recognized in the period in which the losses become evident. Communication Systems: Communication Systems revenue is primarily derived from fixed-price contracts and is generally recognized at the point in time when products are received and accepted by the customer for standard products offered to multiple customers and over time for customer-specific products, systems and services. We disaggregate Communication Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Communication Systems revenue and cash flows are affected by economic factors: Integrated Mission Systems: Integrated Mission Systems revenue is primarily derived from U.S. Government development and production contracts and is generally recognized over time using the POC cost-to-cost revenue recognition method. We disaggregate Integrated Mission Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Integrated Mission Systems revenue and cash flows are affected by economic factors: Aviation Systems: Aviation Systems revenue is primarily derived from fixed-price contracts and is generally recognized at the point in time when products are received and accepted by the customer for standard products offered to multiple customers and over time for customer-specific products, systems and services. We disaggregate Aviation Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Aviation Systems revenue and cash flows are affected by economic factors: Space and Airborne Systems: Space and Airborne Systems revenue is primarily derived from U.S. Government development and production contracts and is generally recognized over time using the POC cost-to-cost revenue recognition method. We disaggregate Space and Airborne Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Space and Airborne Systems revenue and cash flows are affected by economic factors:
Inventories	Inventories
Property, Plant and Equipment	Property, Plant and Equipment — Property, plant and equipment are carried on the basis of cost and include software capitalized for internal use. Depreciation of buildings, machinery and equipment is computed by the straight-line and accelerated methods. The estimated useful lives of buildings, including leasehold improvements, generally range between 2 and 45 years. The estimated useful lives of machinery and equipment generally range between 2 and 10 years. Amortization of internal-use software begins when the software is put into service and is based on the expected useful life of the software. The useful lives over which we amortize internal-use software generally range between 3 and 10
Goodwill	Goodwill — We follow the acquisition method of accounting to record the assets and liabilities of acquired businesses at their estimated fair value at the date of acquisition. We initially record goodwill for the amount the consideration transferred exceeds the acquisition-date fair value of net identifiable assets acquired. We test goodwill for impairment at a level within the Company referred to as the reporting unit, which is our business segment level or one level below the business segment. We test our goodwill for impairment annually, or under certain circumstances, more frequently, such as when events or circumstances indicate there may be impairment. Such events or circumstances may include a significant deterioration in overall economic conditions, changes in the business climate of our industry, a decline in our market capitalization, operating performance indicators, competition, reorganizations of our business or the disposal of all or a portion of a reporting unit. We perform an annual impairment review of our goodwill as of the first day of our fourth fiscal quarter of each year, and more frequently if we believe indicators of impairment exist. Following our fiscal year end change, we made a corresponding change to our annual impairment assessment date and will continue to perform annual impairment review on the first day of our fourth quarter, which for the Fiscal Transition Period was September 28, 2019 (the first day of the last quarter of the Fiscal Transition Period).
Long-Lived Assets, Including Finite-Lived Intangible Assets	Long-Lived Assets, Including Intangible Assets
Other Assets and Liabilities	Other Assets and Liabilities — No assets within the “Other current assets” or “Other non-current assets” line items in our Consolidated Balance Sheet exceeded 5 percent of our total current assets or total assets, respectively, at January 3, 2020 , June 28, 2019 or June 29, 2018 . No accrued liabilities or expenses within the “Other accrued items” or “Other long-term liabilities” line items in our Consolidated Balance Sheet exceeded 5 percent of our total current liabilities or total liabilities, respectively, at January 3, 2020 , June 28, 2019 or June 29, 2018 .
Income Taxes	Income Taxes
Standard Warranties	Standard Warranties — We record estimated standard warranty costs in the period in which the related products are delivered. Factors that affect the estimated cost for warranties include the terms of the contract, the type and complexity of the delivered product, number of installed units, historical experience and management’s assumptions regarding anticipated rates of warranty claims and cost per claim. Our standard warranties start from the shipment, delivery or customer acceptance date and continue as follows: Segment Average Warranty Period Integrated Mission Systems One to three years Space and Airborne Systems One to three years Communication Systems One to five years Aviation Systems One to two years
Foreign Currency Translation	Foreign Currency Translation — The functional currency for most international subsidiaries is the local currency. Assets and liabilities are translated at current rates of exchange and income and expense items are translated at the weighted average exchange rate for the year. The resulting translation adjustments are recorded as a separate component of shareholders’ equity.
Stock Options and Other Share-Based Compensation	Stock Options and Other Share-Based Compensation
Restructuring and Other Exit Costs	Restructuring and Other Exit Costs
Retirement and Post-Employment Benefits	Retirement and Post-Employment Benefits — Defined benefit plans that we sponsor are accounted for as defined benefit pension and other postretirement defined benefit plans (collectively referred to as “defined benefit plans”). Accordingly, the funded or unfunded position of each defined benefit plan is recorded in our Consolidated Balance Sheet. Actuarial gains and losses and prior service costs or credits that have not yet been recognized through income are recorded in the “Accumulated other comprehensive loss” line item within equity in our Consolidated Balance Sheet, net of taxes, until they are amortized as a component of net periodic benefit cost. The determination of benefit obligations and the recognition of expenses related to defined benefit plans are dependent on various assumptions. The major assumptions primarily relate to discount rates, long-term expected rates of return on plan assets, the rate of future compensation increases, mortality, termination, and health care cost trend rates. We develop each assumption using relevant Company experience in conjunction with market-related data. Actuarial assumptions are reviewed annually with third-party consultants and adjusted as appropriate. For the recognition of net periodic benefit cost, the calculation of the long-term expected return on plan assets is generally derived using a market-related value of plan assets based on yearly average asset values at the measurement date over the last five years, to be phased in over five years. Actual results that differ from our assumptions are accumulated and generally amortized for each plan to the extent required over the estimated future life expectancy or, if applicable, the future working lifetime of the plan’s active participants. The fair value of plan assets is determined based on market prices or estimated fair value at the measurement date. The measurement date for valuing defined benefit plan assets and obligations is the end of the month closest to our fiscal year end. We record the service cost component of net periodic benefit income in the “Cost of product sales and services” and “Engineering, selling and administrative expenses” line items in our Consolidated Statement of Income. The non-service cost components of net periodic benefit income are included in the “Non-operating income” line item in our Consolidated Statement of Income. See Note 15: Pension and Other Postretirement Benefits in these Notes for additional information regarding our defined benefit plans. We also provide retirement benefits to many of our U.S.-based employees through defined contribution retirement plans, including 401(k) plans and certain non-qualified deferred compensation plans. The defined contribution retirement plans have matching and savings elements. Company contributions to the retirement plans are based on employees’ savings with no other funding requirements. We may make additional contributions to the retirement plans at our discretion. Retirement and postretirement benefits also include unfunded limited healthcare plans for U.S.-based retirees and employees on long-term disability. We estimate benefits for these plans using actuarial valuations that are based in part on certain key assumptions we make, including the discount rate, the expected long-term rate of return on plan assets, the rate of future compensation increases, healthcare cost trend rates and employee turnover and mortality, each appropriately based on the nature of the plans. We accrue the cost of these benefits during an employee’s active service life, except in the case of our healthcare plans for disabled employees, the costs of which we accrue when the disabling event occurs.
Environmental Expenditures	Environmental Expenditures — We capitalize environmental expenditures that increase the life or efficiency of property or that reduce or prevent environmental contamination. We accrue environmental expenses resulting from existing conditions that relate to past or current operations. Our accruals for environmental expenses are recorded on a site-by-site basis when it is probable a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies available to us. Our accruals for environmental expenses represent the best estimates related to the investigation and remediation of environmental media such as water, soil, soil vapor, air and structures, as well as related legal fees, and are reviewed periodically, at least annually at the year-end balance sheet date, and updated for progress of investigation and remediation efforts and changes in facts and legal circumstances. If the timing and amount of future cash payments for environmental liabilities are fixed or reliably determinable, we generally discount such cash flows in estimating our accrual. As of January 3, 2020 , we were named, and continue to be named, as a potentially responsible party at 84 sites where future liabilities could exist. These sites included 8 sites owned by us, 66 sites associated with our former and current locations or operations and 10 hazardous waste treatment, storage or disposal facility sites not owned by us that contain hazardous substances allegedly attributable to us from past operations. Based on an assessment of relevant factors, we estimated that our liability under applicable environmental statutes and regulations for identified sites was approximately $115 million . The current portion of our estimated environmental liability is included in the “Other accrued items” line item and the non-current portion is included in the “Other long-term liabilities” line item in our Consolidated Balance Sheet. The relevant factors we considered in estimating our potential liabilities under applicable environmental statutes and regulations included some or all of the following as to each site: incomplete information regarding particular sites and other potentially responsible parties; uncertainty regarding the extent of investigation or remediation; our share, if any, of liability for such conditions; the selection of alternative remedial approaches; changes in environmental standards and regulatory requirements; potential insurance proceeds; cost-sharing agreements with other parties and potential indemnification from successor and predecessor owners of these sites. We do not believe that any uncertainties regarding these relevant factors will materially affect our potential liability under applicable environmental statutes and regulations. We believe the total amount accrued is appropriate based on existing facts and circumstances, although we note the total amount accrued may increase or decrease in future years.
Financial Guarantees and Commercial Commitments	Financial Guarantees and Commercial Commitments — Financial guarantees are contingent commitments issued to guarantee the performance of a customer to a third party in borrowing arrangements, such as commercial paper issuances, bond financings and similar transactions. As of January 3, 2020 , we did not have material financial guarantees and there were no such contingent commitments accrued for in our Consolidated Balance Sheet.
Financial Instruments and Risk Management	Financial Instruments and Risk Management
Income From Continuing Operations Per Share	Income From Continuing Operations Per Share
Business Segments	Business Segments — We evaluate each business segment’s performance based on its operating income or loss, which we define as profit or loss from operations before income taxes, including pension income and excluding interest income and expense, royalties and related intellectual property expenses, equity method investment income or loss and gains or losses from securities and other investments. Intersegment sales are generally transferred at cost to the buying segment, and the sourcing segment recognizes a profit that is eliminated. The “Corporate eliminations” line item in Note 25: Business Segments in these Notes represents the elimination of intersegment sales. Corporate expenses are primarily allocated to our business segments using an allocation methodology prescribed by U.S. Government regulations for government contractors. The “Unallocated corporate expenses and corporate eliminations” line item in Note 25: Business Segments in these Notes represents the portion of corporate expenses not allocated to our business segments and elimination of intersegment profits. The “Pension adjustment” line item in Note 25: Business Segments in these Notes represents the reconciliation of the non-service components of net periodic pension and postretirement benefit costs, which are a component of segment operating income but are included in the “Non-operating income” line item in our Consolidated Statement of Income. The non-service components of net periodic pension and postretirement benefit costs include interest cost, expected return on plan assets, amortization of net actuarial gain or loss and effect of curtailments or settlements. During the two quarters ended January 3, 2020 , we adjusted our segment reporting to reflect our new organizational structure announced July 1, 2019. We structure our operations primarily around the products and services we sell and the markets we serve, and effective June 29, 2019, we report the financial results of our operations in the following four operating segments, which are also our reportable segments and are referred to as our business segments: • Integrated Mission Systems, including multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions; • Space and Airborne Systems, including space payloads, sensors and full-mission solutions; classified intelligence and cyber defense; avionics; and electronic warfare; • Communication Systems, including tactical communications; broadband communications; integrated vision solutions; and public safety; and • Aviation Systems, including defense aviation products; security, detection and other commercial aviation products; commercial and military pilot training; and mission networks for air traffic management. The historical results, discussion and presentation of our business segments as set forth in our Consolidated Financial Statements and these Notes reflect the impact of these adjustments to our segment reporting for all periods presented in order to present the segment information on a comparable basis. There is no impact on our previously reported consolidated statements of income, balance sheets, statements of cash flows or statements of equity resulting from these adjustments.
Adoption of New Accounting Standards and Accounting Standards Issued But Not Yet Effective	Adoption of New Accounting Standards Leases Effective June 29, 2019, we adopted Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), as amended (“ASC 842”) using the optional transition method. We initially applied ASC 842 for leases existing as of June 29, 2019 and recognized $270 million of right-of-use (“ROU”) assets and $289 million of lease liabilities in our Consolidated Balance Sheet. See Note 5: Business Combination in these Notes for ROU assets and lease liabilities assumed as part of the L3Harris Merger. In accordance with ASC 842, we recognized ROU assets and lease liabilities in our balance sheet for operating and finance leases under which we are the lessee, except for equipment leases and, as permitted by a practical expedient under ASC 842, leases with a term of 12 months or less. Equipment leases were not material at January 3, 2020 and June 29, 2019 . We also elected the package of practical expedients permitted under ASC 842 and did not reassess lease classification for existing or expired leases, whether expired or existing contracts contain a lease under the new definition of a lease or whether previously capitalized initial direct costs would qualify for capitalization under ASC 842. Operating lease assets are classified as operating ROU assets, operating lease liabilities for obligations due within 12 months are classified as other accrued items and operating lease liabilities for obligations due longer than 12 months are classified as other long-term liabilities. Finance lease assets are classified as property, plant and equipment. Finance lease liabilities are classified as other accrued items or other long-term debt, net depending on when the obligation is due. ROU assets and lease liabilities are recognized based on the present value of future lease payments. Lease payments primarily include base rent. We have some lease payments that are based on an index and changes to the index are treated as variable lease payments and recognized in the period in which the obligation for those payments is incurred. Our lease payments also include non-lease components such as real estate taxes and common-area maintenance costs. We elected the practical expedient to account for lease and non-lease components as a single component. In certain of our leases, the non-lease components are variable and are therefore excluded from lease payments to determine the ROU asset. The present value of future lease payments is determined using our incremental borrowing rate at lease commencement over the expected lease term. We use our incremental borrowing rate because our leases do not provide an implicit lease rate. The expected lease term represents the number of years we expect to lease the property, including options to extend or terminate the lease when it is reasonably certain that we will exercise the option. Operating lease expense is recognized as an operating cost on a straight-line basis over the expected lease term in our Consolidated Statement of Income. For finance leases, the ROU asset is amortized on a straight-line basis over the lease term, and interest on the lease liability is recognized in interest expense. The amortization of ROU assets for our finance leases and interest expense were not material for the two quarters ended January 3, 2020 . We are a lessor for certain arrangements for flight simulators. These leases meet the criteria for operating lease classification. Lease income associated with these leases was not material for the two quarters ended January 3, 2020 . The adoption of ASC 842 did not have a material effect on our results of operations or cash flows. Derivatives and Hedging Effective June 29, 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The amendments in this update are intended to better align companies’ risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedge relationships and the presentation of hedge results. The amendments in this update require companies to present the earnings effect of the hedging instrument in the same income statement line in which the earnings effect of the hedged item is reported. Prior to the adoption of this update, GAAP provided hedge accounting for only the portion of the hedge deemed to be highly effective and required companies to separately reflect the amount by which the hedging instrument did not offset the hedged item, which is referred to as the ineffective amount. The amendments in this update include, among other items, removal of the requirement that companies separately measure and recognize in earnings the ineffective amount for highly effective hedges. Adoption of this standard did not have a material effect on our financial condition, results of operations or cash flows.
Stock Options	Stock Options The following information relates to stock options, including performance stock options, that have been granted under shareholder-approved L3Harris SIPs. Option exercise prices are equal to or greater than the fair market value of our common stock on the date the options are granted, using the closing stock price of our common stock. Options may be exercised for a period of ten years after the date of grant, and options, other than performance stock options, generally become exercisable in installments, which are typically 33.3 percent one year from the grant date, 33.3 percent two years from the grant date and 33.3 percent three years from the grant date. In certain instances, vesting and exercisability are also subject to performance criteria. The fair value as of the grant date of each option award was determined using the Black-Scholes-Merton option-pricing model which uses assumptions noted in the following table. Expected volatility over the expected term of the options is based on implied volatility from traded options on our common stock and the historical volatility of our stock price. The expected term of the options is based on historical observations of our common stock, considering average years to exercise for all options exercised and average years to cancellation for all options canceled, as well as average years remaining for vested outstanding options, which is calculated based on the weighted-average of these three inputs. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.
Restricted Stock and Restricted Stock Unit Awards	Restricted Stock and Restricted Stock Unit Awards The following information relates to awards of restricted stock and restricted stock units that have been granted to employees and non-employee directors under our L3Harris SIPs. These awards are not transferable until vested and the restrictions generally lapse upon the achievement of continued employment [or board membership] over a specified time period.
Performance Share Units Awards	Performance Share Unit Awards The following information relates to awards of performance share units that have been granted to employees under our L3Harris SIPs. Generally, these awards are subject to performance criteria, such as meeting predetermined operating income or earnings per share and return on invested capital targets for a 3 -year performance period. These awards also generally vest at the expiration of the same 3 -year period. The final determination of the number of shares to be issued in respect of an award is made by our Board of Directors or a committee of our Board of Directors.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jan. 03, 2020
Accounting Policies [Abstract]
Schedule of Average Warranty Period by Segment	Our standard warranties start from the shipment, delivery or customer acceptance date and continue as follows: Segment Average Warranty Period Integrated Mission Systems One to three years Space and Airborne Systems One to three years Communication Systems One to five years Aviation Systems One to two years
Schedule of Changes in Accounting Estimates	Net EAC adjustments had the following impact to earnings for the periods presented: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions, except per share amounts) Net EAC adjustments, before income taxes $ 137 $ 17 $ (19 ) $ (1 ) Net EAC adjustments, net of income taxes $ 103 $ 13 $ (13 ) $ (1 ) Net EAC adjustments, net of income taxes, per diluted share $ 0.46 $ 0.10 $ (0.11 ) $ (0.01 )

DIVESTITURES, ASSET SALES AND_2

DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jan. 03, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Financial Results of Discontinued Operations	The following table presents the key financial results of IT Services included in “Discontinued operations, net of income taxes” in our Consolidated Statement of Income: Fiscal Years Ended June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue from product sales and services $ — $ — $ 895 Cost of product sales and services — — (777 ) Engineering, selling and administrative expenses — — (68 ) Impairment of goodwill and other assets — — (240 ) Non-operating loss (1 ) (4 ) (9 ) Loss before income taxes (1 ) (4 ) (199 ) Loss on sale of discontinued operations, net — — (28 ) Income tax benefit — 5 69 Discontinued operations, net of income taxes $ (1 ) $ 1 $ (158 ) The major components of discontinued operations in our Consolidated Statement of Income included the following: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue from product sales and services $ — $ — $ — $ 1,039 Cost of product sales and services — — — (885 ) Engineering, selling and administrative expenses — — — (91 ) Impairment of goodwill and other assets — — — (240 ) Non-operating loss, net (1) (1 ) (5 ) (8 ) (7 ) Loss before income taxes (1 ) (5 ) (8 ) (184 ) Loss on sale of discontinued operations, net (2) — — — (11 ) Income tax benefit — 1 5 110 Discontinued operations, net of income taxes $ (1 ) $ (4 ) $ (3 ) $ (85 ) _______________ (1) “Non-operating loss, net” included a loss of $2 million in fiscal 2017 related to our former broadcast communications business (“Broadcast Communications”), which was divested in fiscal 2013. (2) “Loss on sale of discontinued operations, net” in fiscal 2017 included a $3 million decrease to the loss on the sale of Broadcast Communications. Depreciation and amortization, capital expenditures and significant non-cash items of discontinued operations included the following: Fiscal Year Ended June 30, 2017 (In millions) Depreciation and amortization $ 39 Capital expenditures 4 Significant non-cash items: Impairment of goodwill and other assets (240 ) Loss on sale of discontinued operations, net (11 ) The carrying amounts of the major classes of assets and liabilities of the Harris Night Vision business classified as held for sale at June 28, 2019 are summarized below: June 28, 2019 (In millions) Receivables $ 18 Inventories 52 Property, plant and equipment 29 Goodwill 30 Other intangible assets 4 Assets of disposal group held for sale $ 133 Accounts payable $ 13 Contract liabilities 1 Compensation and benefits 3 Other accrued items 3 Defined benefit plans 16 Liabilities of disposal group held for sale $ 36 The following table presents the key financial results of CapRock included in “Discontinued operations, net of income taxes” included in our Consolidated Statement of Income: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue from product sales and services $ — $ — $ — $ 144 Cost of product sales and services — — — (108 ) Engineering, selling and administrative expenses — — — (23 ) Non-operating income (loss) (1 ) (3 ) (4 ) 4 Income (loss) before income taxes (1 ) (3 ) (4 ) 17 Gain on sale of discontinued operations — — — 14 Income tax benefit — 1 — 41 Discontinued operations, net of income taxes $ (1 ) $ (2 ) $ (4 ) $ 72

RESTRUCTURING AND OTHER EXIT _2

RESTRUCTURING AND OTHER EXIT COSTS (Tables)	6 Months Ended
	Jan. 03, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Other Exit Activities	Changes to our restructuring and other exit costs liabilities during the two quarters ended January 3, 2020 and fiscal 2019 and 2018 were as follows: Employee severance-related costs Facilities consolidation and other exit costs (1) Total (In millions) Balance at June 30, 2017 $ 12 $ 31 $ 43 Additional provisions 1 50 51 Payments (9 ) (38 ) (47 ) Other (2 ) — (2 ) Balance at June 29, 2018 2 43 45 Payments (2 ) (27 ) (29 ) Balance at June 28, 2019 — 16 16 Additional provisions 117 — 117 Payments (62 ) (1 ) (63 ) Other 3 (8 ) (5 ) Balance at January 3, 2020 $ 58 $ 7 $ 65 _______________ (1) Excludes our operating lease liability related to L3’s former headquarter offices.

BUSINESS COMBINIATION (Tables)

BUSINESS COMBINIATION (Tables)	6 Months Ended
	Jan. 03, 2020
Business Combinations [Abstract]
Schedule of Calculation of Consideration Transferred	Our calculation of consideration transferred is as follows: (In millions, except exchange ratio and per share amounts) June 29, 2019 Outstanding shares of L3 common stock as of June 28, 2019 79.63 L3 restricted stock unit awards settled in shares of L3Harris common stock 0.41 L3 performance unit awards settled in shares of L3Harris common stock 0.04 80.08 Exchange Ratio 1.30 Shares of L3Harris common stock issued for L3 outstanding common stock 104.10 Price per share of L3Harris common stock as of June 28, 2019 $ 189.13 Fair value of L3Harris common stock issued for L3 outstanding common stock $ 19,689 Fair value of replacement RSUs attributable to merger consideration 10 Fair value of L3Harris stock options issued for L3 outstanding stock options 101 Withholding tax liability incurred for converted L3 share-based awards 45 Fair value of replacement award consideration 156 Fair value of total consideration 19,845 Less cash acquired (1,195 ) Total net consideration transferred $ 18,650
Schedule of Preliminary Measurement of Assets Acquired, Liabilities Assumed and Non Controlling Interest	Our preliminary measurement of assets acquired, liabilities assumed and noncontrolling interests as of the Closing Date and measurement period adjustments during the two quarters ended January 3, 2020 , are as follows: Preliminary Fair Value Measurement Period Adjustments Adjusted Fair Value (In millions) Receivables $ 849 $ (15 ) $ 834 Contract assets 1,708 (41 ) 1,667 Inventories 1,056 (37 ) 1,019 Other current assets 517 (20 ) 497 Property, plant and equipment 1,176 39 1,215 Operating lease right-of-use assets 704 — 704 Goodwill 15,423 (774 ) 14,649 Other intangible assets 6,768 1,109 7,877 Other non-current assets 327 (6 ) 321 Total assets acquired $ 28,528 $ 255 $ 28,783 Accounts payable $ 898 $ (14 ) $ 884 Contract liabilities 722 (4 ) 718 Other current liabilities 772 60 832 Operating lease liabilities 715 — 715 Defined benefit plans 1,411 — 1,411 Long-term debt, net 3,548 — 3,548 Other long-term liabilities 1,661 209 1,870 Total liabilities assumed 9,727 251 9,978 Net assets acquired 18,801 4 18,805 Noncontrolling interests (151 ) (4 ) (155 ) Total net consideration transferred $ 18,650 $ — $ 18,650
Schedule of Identifiable Intangible Assets Acquired	The following table provides further detail of the fair value and weighted-average amortization period of identified intangible assets acquired by major intangible asset class: Weighted Average Amortization Period Total (In years) (In millions) Identifiable intangible assets acquired: Customer relationships (Government) 15 $ 4,677 Customer relationships (Commercial) 15 643 Trade names — Divisions 9 123 Developed technology 7 562 Total identifiable intangible assets subject to amortization 14 6,005 Trade names — Corporate indefinite 1,803 In-process research and development n/a 69 Total identifiable intangible assets $ 7,877
Schedule of Pro Forma Results	The following summary, prepared on a pro forma basis, presents our unaudited consolidated results of operations for the comparable period ended December 28, 2018 as if the L3Harris Merger had been completed on June 29, 2018, the beginning of the comparable period ended December 28, 2018 , after including any post-merger adjustments directly attributable to the L3Harris Merger, such as the sale of the Harris Night Vision business, and after including the impact of adjustments such as amortization of intangible assets as well as the related income tax effects. This pro forma presentation does not include any impact of transaction synergies. The pro forma results are not necessarily indicative of our results of operations that actually would have been obtained had the L3Harris Merger been completed on the assumed date or for the period presented, or which may be realized in the future. Two Quarters Ended December 28, 2018 (In millions) Revenue from product sales and services — as reported $ 3,208 Revenue from product sales and services — pro forma $ 8,404 Income from continuing operations — as reported $ 441 Income from continuing operations — pro forma $ 760

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Jan. 03, 2020
Receivables [Abstract]
Schedule of Receivables	Receivables are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Accounts receivable $ 1,228 $ 459 $ 468 Less allowances for collection losses (12 ) (2 ) (2 ) $ 1,216 $ 457 $ 466

CONTRACT ASSETS AND CONTRACT _2

CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)	6 Months Ended
	Jan. 03, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Contract Liabilities	Contract assets and contract liabilities are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Contract assets $ 2,459 $ 807 $ 782 Contract liabilities, current (1,214 ) (496 ) (372 ) Contract liabilities, noncurrent (1) (87 ) (42 ) (35 ) Net contract assets $ 1,158 $ 269 $ 375 _______________ (1) The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Consolidated Balance Sheet. The components of contract assets are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Unbilled contract receivables, gross $ 3,690 $ 916 $ 881 Progress payments (1,231 ) (109 ) (99 ) $ 2,459 $ 807 $ 782

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jan. 03, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Finished products $ 216 $ 77 $ 91 Work in process 386 90 121 Raw materials and supplies 617 193 199 $ 1,219 $ 360 $ 411

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jan. 03, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment are summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Land $ 90 $ 40 $ 43 Software capitalized for internal use 287 187 171 Buildings 1,073 631 620 Machinery and equipment 2,194 1,429 1,349 3,644 2,287 2,183 Less accumulated depreciation and amortization (1,527 ) (1,393 ) (1,283 ) $ 2,117 $ 894 $ 900

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jan. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill by Business Segments	The assignment of goodwill by business segment, and changes in the carrying amount of goodwill for the two quarters ended January 3, 2020 , and fiscal 2019 and 2018 were as follows: Integrated Mission Systems Space and Airborne Systems Communication Systems Aviation Systems Other non-reportable business segments Total (In millions) Balance at June 30, 2017 $ 64 $ 3,733 $ 927 $ 612 $ 30 $ 5,366 Currency translation adjustments — 6 — — — 6 Balance at June 29, 2018 64 3,739 927 612 30 5,372 Currency translation adjustments — (2 ) — — — (2 ) Decrease from reclassification to assets of disposal group held for sale (1) — — — — (30 ) (30 ) Balance at June 28, 2019 64 3,737 927 612 — 5,340 Goodwill acquired 5,704 1,390 3,316 4,239 — 14,649 Currency translation adjustments 1 4 — 7 — 12 Balance at January 3, 2020 $ 5,768 $ 5,131 $ 4,243 $ 4,859 $ — $ 20,001 _______________ (1) In the fourth quarter of fiscal 2019, in connection with our then-pending divestiture of the Harris Night Vision business, which was reported as part of our former Communication Systems segment, we assigned $30 million of goodwill to the Harris Night Vision business on a relative fair value basis, because the divestiture of the Harris Night Vision business represented the disposal of a portion of a reporting unit. The Harris Night Vision business’ assets, including assigned goodwill, are presented as “Assets of disposal group held for sale” in our Consolidated Balance Sheet as of June 28, 2019 . We completed the sale of the Harris Night Vision business on September 13, 2019. As a result, the goodwill assigned to the Harris Night Vision business was not allocated to any of our new business segments, and, consequently, it is included in “Other non-reportable business segments” in the table above. See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for additional information regarding the sale of the Harris Night Vision business.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jan. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are summarized below: January 3, 2020 Gross Carrying Amount Accumulated Amortization Net (In millions) Customer relationships $ 6,518 $ 653 $ 5,865 Developed technologies 768 183 585 Trade names 165 35 130 Other 10 4 6 Total intangible assets subject to amortization 7,461 875 6,586 IPR&D 69 — 69 L3 trade name 1,803 — 1,803 Total intangible assets $ 9,333 $ 875 $ 8,458 June 28, 2019 Gross Carrying Amount Accumulated Amortization Net (In millions) Customer relationships $ 1,203 $ 419 $ 784 Developed technologies 206 136 70 Trade names 42 26 16 Other 2 2 — Total intangible assets $ 1,453 $ 583 $ 870 June 29, 2018 Gross Carrying Amount Accumulated Amortization Net (In millions) Customer relationships $ 1,206 $ 327 $ 879 Developed technologies 208 119 89 Trade names 43 22 21 Other 2 2 — Total intangible assets $ 1,459 $ 470 $ 989
Schedule of Future Estimated Amortization Expense of Intangible Assets	Future estimated amortization expense for intangible assets is as follows: (In millions) 2020 $ 711 2021 632 2022 617 2023 596 2024 568 Thereafter 3,462 Total $ 6,586

ACCRUED WARRENTIES (Tables)

ACCRUED WARRENTIES (Tables)	6 Months Ended
	Jan. 03, 2020
Product Warranties Disclosures [Abstract]
Schedule of Accrued Warranties	Changes in our liability for standard product warranties during the two quarters ended January 3, 2020 , and fiscal 2019 and 2018 , were as follows: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Balance at the beginning of the period $ 25 $ 24 $ 26 Acquisitions during the period 83 — — Accruals for product warranties issued during the period 23 16 13 Settlements made during the period (23 ) (11 ) (14 ) Other, including adjustments for divestitures and foreign currency translation 4 (4 ) (1 ) Balance at the end of the period $ 112 $ 25 $ 24

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jan. 03, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt is summarized below: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Variable-rate debt: Floating rate notes, due February 27, 2019 $ — $ — $ 300 Floating rate notes, due April 30, 2020 250 250 250 Total variable-rate debt 250 250 550 Fixed-rate debt: 2.7% notes, due April 27, 2020 — 400 400 4.95% notes, due February 15, 2021 650 — — 3.85% notes, due June 15, 2023 800 — — 3.95% notes, due May 28, 2024 350 — — 3.832% notes, due April 27, 2025 600 600 600 7.0% debentures, due January 15, 2026 100 100 100 3.85% notes, due December 15, 2026 550 — — 6.35% debentures, due February 1, 2028 26 26 26 4.40% notes, due June 15, 2028 1,850 850 850 2.900% notes, due December 15, 2029 400 — — 4.854% notes, due April 27, 2035 400 400 400 6.15% notes, due December 15, 2040 300 300 300 5.054% notes, due April 27, 2045 500 500 500 Other 49 17 14 Total fixed-rate debt 6,575 3,193 3,190 Total debt 6,825 3,443 3,740 Plus: unamortized bond premium 154 — — Less: unamortized discounts and issuance costs (28 ) (24 ) (28 ) Total debt, net 6,951 3,419 3,712 Less: current portion of long-term debt, net (257 ) (656 ) (304 ) Total long-term debt, net $ 6,694 $ 2,763 $ 3,408
Schedule of Debt Exchange	Aggregate Principal Amount of L3 Notes (prior to debt exchange) Aggregate Principal Amount of New L3Harris Notes Issued Aggregate Principal Amount of Remaining L3 Notes (In millions) 4.95% notes due February 15, 2021 (“4.95% 2021 Notes”) $ 650 $ 501 $ 149 3.85% notes due June 15, 2023 (“3.85% 2023 Notes”) 800 741 59 3.95% notes due May 28, 2024 (“3.95% 2024 Notes”) 350 326 24 3.85% notes due December 15, 2026 (“3.85% 2026 Notes”) 550 535 15 4.40% notes due June 15, 2028 (“4.40% 2028 Notes”) 1,000 918 82 Total $ 3,350 $ 3,021 $ 329
Schedule of Estimated Fair Values of Long-term Debt	The following table presents the carrying amounts and estimated fair values of our long-term debt: January 3, 2020 June 28, 2019 June 29, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Long-term debt (including current portion) (1) $ 6,951 $ 7,536 $ 3,419 $ 3,802 $ 3,712 $ 3,848 _______________ (1) The fair value was estimated using a market approach based on quoted market prices for our debt traded in the secondary market. If our long-term debt in our balance sheet were measured at fair value, it would be categorized in Level 2 of the fair value hierarchy.

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jan. 03, 2020
Retirement Benefits [Abstract]
Schedule of Fair Value of Deferred Compensation Plan Investments and Liabilities by Category and Fair Value Hierarchy Level	The following table provides the fair value of our deferred compensation plan investments and liabilities by category and by fair value hierarchy level: January 3, 2020 June 28, 2019 June 29, 2018 Total Level 1 Total Level 1 Total Level 1 (In millions) Assets Deferred compensation plan assets: (1) Equity and fixed income securities (2) $ 58 $ 58 $ 99 $ 99 $ 109 $ 109 Investments measured at NAV: Corporate-owned life insurance 29 28 27 Total fair value of deferred compensation plan assets $ 87 $ 127 $ 136 Liabilities Deferred compensation plan liabilities: (3) Equity securities and mutual funds $ 2 $ 2 $ 25 $ 25 $ 38 $ 38 Investments measured at NAV: Common/collective trusts and guaranteed investment contracts 69 132 111 Total fair value of deferred compensation plan liabilities $ 71 $ 157 $ 149 _______________ (1) Represents diversified assets held in a “rabbi trust” associated with our non-qualified deferred compensation plans, which we include in the “Other current assets” and “Other non-current assets” line items in our Consolidated Balance Sheet, and which are measured at fair value. (2) We have reclassified certain prior-year amounts to conform with current period classifications. Reclassifications include certain equity and fixed income funds that were previously included under “Investments Measured at NAV” and are now reflected in “Equity and fixed income securities” under “Level 1.” (3) Primarily represents obligations to pay benefits under certain non-qualified deferred compensation plans, which we include in the “Compensation and benefits” and “Other long-term liabilities” line items in our Consolidated Balance Sheet. Under these plans, participants designate investment options (including stock and fixed-income funds), which serve as the basis for measurement of the notional value of their accounts.
Schedule of Funded Status of Defined Benefit Plans	The following table provides a summary of the funded status of our defined benefit plans and the presentation of such balances within our Consolidated Balance Sheet: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Pension Other (In millions) Fair value of plan assets $ 8,618 $ 274 $ 4,958 $ 201 $ 5,098 $ 207 Projected benefit obligation (10,268 ) (369 ) (6,123 ) (221 ) (5,774 ) (233 ) Funded status $ (1,650 ) $ (95 ) $ (1,165 ) $ (20 ) $ (676 ) $ (26 ) Consolidated Balance Sheet line item amounts: Other non-current assets $ 91 $ 1 $ 12 $ — $ 15 $ — Compensation and benefits (10 ) (8 ) (7 ) — (2 ) (1 ) Liabilities of disposal group held for sale — — (16 ) — — — Defined benefit plans (1,731 ) (88 ) (1,154 ) (20 ) (689 ) (25 )
Schedule of Estimated Net Defined Benefits Costs to be Amortized from AOCI	The following table provides a summary of pre-tax amounts recorded within accumulated other comprehensive loss: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Benefits Pension Other Benefits (In millions) Net actuarial loss (gain) $ 819 $ (34 ) $ 781 $ (36 ) $ 156 $ (46 ) Net prior service cost (credit) (282 ) (1 ) 6 (1 ) 4 (1 ) $ 537 $ (35 ) $ 787 $ (37 ) $ 160 $ (47 ) The following table provides estimated amounts for net actuarial gain and prior service cost to be amortized from accumulated other comprehensive loss into net periodic benefit income during the next twelve months for plans in existence as of January 3, 2020 . Pension Other Total (In millions) Net actuarial (gain) loss $ 10 $ (3 ) $ 7 Prior service cost (28 ) — (28 ) $ (18 ) $ (3 ) $ (21 )
Schedule of Roll-forward of Projected Benefit Obligation	The following table provides a roll-forward of the projected benefit obligations for our defined benefit plans: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Benefits Pension Other Benefits (In millions) Change in benefit obligation Benefit obligation at beginning of fiscal year $ 6,123 $ 221 $ 5,774 $ 233 $ 6,140 $ 265 Benefit obligation assumed in L3Harris Merger 4,474 156 — — — — Service cost 42 1 36 — 39 1 Interest cost 149 5 209 8 195 7 Actuarial loss (gain) 301 7 514 (1 ) (169 ) (22 ) Amendments (292 ) — 3 — 2 — Benefits paid (342 ) (21 ) (381 ) (19 ) (402 ) (18 ) Settlements (5 ) — — — — — Expenses paid (43 ) — (30 ) — (35 ) — Curtailments (35 ) — 1 — — — Foreign currency exchange rate changes 3 — (3 ) — 4 — Plan participants' contributions 1 — — — — — Divestiture (108 ) — — — — — Benefit obligation at end of fiscal year $ 10,268 $ 369 $ 6,123 $ 221 $ 5,774 $ 233
Schedule of Roll-forward of Plan Assets	The following table provides a roll-forward of the assets and the ending funded status of our defined benefit plans: January 3, 2020 June 28, 2019 June 29, 2018 Pension Other Benefits Pension Other Benefits Pension Other Benefits (In millions) Change in plan assets Plan assets at beginning of fiscal year $ 4,958 $ 201 $ 5,098 $ 207 $ 4,921 $ 212 Plan assets acquired in L3Harris Merger 3,183 68 — — — — Actual return on plan assets 548 18 271 11 307 14 Employer contributions 406 8 3 2 303 (1 ) Benefits paid (342 ) (21 ) (381 ) (19 ) (402 ) (18 ) Settlements (5 ) — — — — — Expenses paid (43 ) — (30 ) — (35 ) — Foreign currency exchange rate changes 4 — (3 ) — 4 — Plan participants' contributions 1 — — — — — Divestiture (92 ) — — — — — Plan assets at end of fiscal year $ 8,618 $ 274 $ 4,958 $ 201 $ 5,098 $ 207 Funded status at end of fiscal year $ (1,650 ) $ (95 ) $ (1,165 ) $ (20 ) $ (676 ) $ (26 )
Schedule of Accumulated Benefit Obligations	The following table provides information for defined benefit pension plans with an accumulated benefit obligation in excess of plan assets: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Projected benefit obligation $ 9,670 $ 6,041 $ 5,694 Accumulated benefit obligation 9,656 6,041 5,694 Fair value of plan assets 7,931 4,864 5,004
Schedule of Net Benefit Costs	The following table provides the components of net periodic benefit income and other amounts recognized in other comprehensive income for the two quarters ended January 3, 2020 and fiscal 2019 , 2018 and 2017 as they pertain to our defined benefit plans: Pension Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Net periodic benefit income Service cost $ 42 $ 36 $ 39 $ 58 Interest cost 149 209 195 184 Expected return on plan assets (314 ) (382 ) (369 ) (340 ) Amortization of net actuarial loss (gain) 1 — — 1 Amortization of prior service credit (5 ) — — — Effect of curtailments or settlements (1) (18 ) 1 — — Net periodic benefit income $ (145 ) $ (136 ) $ (135 ) $ (97 ) Other changes in plan assets and benefit obligations recognized in other comprehensive loss Net actuarial loss (gain) $ 55 $ 625 $ (106 ) $ (284 ) Prior service (credit) cost (292 ) 3 2 — Amortization of net actuarial gain (loss) (5 ) — — (1 ) Amortization of prior service credit (cost) 5 (1 ) — — Recognized net loss due to divestiture (13 ) — — — Total change recognized in other comprehensive loss (250 ) 627 (104 ) (285 ) Total impact from net periodic benefit cost and changes in other comprehensive loss $ (395 ) $ 491 $ (239 ) $ (382 ) _______________ (1) Effective January 1, 2020, for certain acquired L3 U.S. defined benefit pension plans, benefit accruals were frozen and replaced with a 1% cash balance benefit formula for certain employees who were not considered highly compensated on December 31, 2018. During the two quarters ended January 3, 2020 , we recognized a $23 million curtailment gain as a result of this change, and a $5 million settlement loss resulting from the payout of the liabilities of a non-qualified benefit plan due to the change in control provisions. Other Benefits Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Net periodic benefit income Service cost $ 1 $ — $ 1 $ 1 Interest cost 5 8 7 8 Expected return on plan assets (10 ) (16 ) (16 ) (17 ) Amortization of net actuarial loss (gain) (3 ) (6 ) (1 ) — Net periodic benefit income $ (7 ) $ (14 ) $ (9 ) $ (8 ) Other changes in plan assets and benefit obligations recognized in other comprehensive loss Net actuarial loss (gain) $ (1 ) $ 4 $ (20 ) $ (38 ) Amortization of net actuarial gain (loss) 3 6 1 — Total change recognized in other comprehensive loss 2 10 (19 ) (38 ) Total impact from net periodic benefit cost and changes in other comprehensive loss $ (5 ) $ (4 ) $ (28 ) $ (46 )
Schedule of Weighted-average Assumptions Used	The following table provides the weighted-average assumptions used to determine projected benefit obligations and net periodic benefit cost, as they pertain to our other postretirement defined benefit plans in existence as of January 3, 2020 : Obligation assumptions as of: January 3, 2020 June 28, 2019 June 29, 2018 Discount rate 2.97 % 3.21 % 3.99 % Rate of future compensation increase N/A N/A N/A Cost assumptions for fiscal periods ended: January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 Discount rate to determine service cost 3.47 % 4.14 % 3.62 % 3.52 % Discount rate to determine interest cost 2.74 % 3.62 % 3.04 % 2.60 % Rate of future compensation increase N/A N/A N/A N/A The following tables provide the weighted-average assumptions used to determine projected benefit obligations and net periodic benefit cost, as they pertain to our defined benefit pension plans in existence as of January 3, 2020 : Obligation assumptions as of: January 3, 2020 June 28, 2019 June 29, 2018 Discount rate 3.14 % 3.35 % 4.05 % Rate of future compensation increase 2.80 % 2.76 % 2.76 % Cost assumptions for fiscal periods ended: January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 Discount rate to determine service cost 3.11 % 3.89 % 3.48 % 3.80 % Discount rate to determine interest cost 2.94 % 3.75 % 3.28 % 2.94 % Expected return on plan assets 7.68 % 7.66 % 7.66 % 7.65 % Rate of future compensation increase 2.97 % 2.76 % 2.76 % 2.75 %
Schedule of Strategic Target Assets Allocation and Fair Value of Plan Assets	The following tables provide the fair value of plan assets held by our defined benefit plans by asset category and by fair value hierarchy level: January 3, 2020 Total Level 1 Level 2 Level 3 (In millions) Asset Category Equities: Domestic equities $ 2,968 $ 2,968 $ — $ — International equities 1,217 1,217 — — Real Estate Investment Trusts 211 211 — — Fixed income: Corporate bonds 1,176 — 1,159 17 Government securities 489 — 489 — Securitized Assets 131 — 131 — Fixed Income Funds 101 101 — — Other 2 — — 2 Cash and cash equivalents 691 17 674 — Total 6,986 $ 4,514 $ 2,453 $ 19 Investments Measured at NAV Equity funds 933 Fixed income funds 323 Hedge funds 342 Private equity funds 302 Other 1 Total Investments Measured at NAV 1,901 Receivables, net 5 Total fair value of plan assets $ 8,892 June 28, 2019 Total Level 1 Level 2 Level 3 (In millions) Asset Category Equities: Domestic equities $ 1,173 $ 1,173 $ — $ — International equities 896 896 — — Fixed income: Corporate bonds 923 — 906 17 Government securities 332 — 332 — Other 2 — — 2 Cash and cash equivalents 59 12 47 — Total 3,385 $ 2,081 $ 1,285 $ 19 Investments Measured at NAV Equity funds 703 Fixed income funds 362 Hedge funds 331 Private equity funds 294 Total Investments Measured at NAV 1,690 Receivables, net 84 Total fair value of plan assets $ 5,159 June 29, 2018 Total Level 1 Level 2 Level 3 (In millions) Asset Category Equities: Domestic equities $ 1,221 $ 1,189 $ 32 $ — International equities 903 899 4 — Fixed income: Corporate bonds 811 — 800 11 Government securities 335 — 335 — Other 2 — — 2 Cash and cash equivalents 209 6 203 — Total 3,481 $ 2,094 $ 1,374 $ 13 Investments Measured at NAV Equity funds 714 Fixed income funds 318 Hedge funds 395 Private equity funds 401 Total Investments Measured at NAV 1,828 Payables, net (4 ) Total fair value of plan assets $ 5,305 The following table provides the current strategic target asset allocation ranges by asset category: Target Asset Allocation Equity investments 40 % — 60% Fixed income investments 20 % — 40% Hedge funds 0 % — 30% Cash and cash equivalents 0 % — 10%
Schedule of Expected Benefit Payments	The following table provides the projected timing of payments for benefits earned to date and benefits expected to be earned for future service by current active employees under our defined benefit plans in existence as of January 3, 2020 . Pension Other Benefits (1) Total (In millions) Fiscal Years: 2020 $ 572 $ 32 $ 604 2021 576 31 607 2022 583 30 613 2023 584 29 613 2024 581 27 608 2025 — 2028 2,896 117 3,013 _______________ (1) Projected payments for Other Benefits reflect net payments from the Company, which include subsidies that reduce the gross payments by less than 10 percent .

STOCK OPTIONS AND OTHER SHARE_2

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jan. 03, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Classification of Share-based Compensation Expense	The following table summarizes the amounts and classification of share-based compensation expense: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Total expense $ 125 $ 58 $ 51 $ 42 Included in: Cost of product sales and services $ 5 $ 12 $ 8 $ 3 Engineering, selling and administrative expenses 120 46 43 39 Income from continuing operations 125 58 51 42 Tax effect on share-based compensation expense (31 ) (14 ) (16 ) (16 ) Total share-based compensation expense after-tax $ 94 $ 44 $ 35 $ 26
Schedule of Assumptions Used In Calculating Fair Value of Stock Option Grants	A summary of the significant assumptions used in determining the fair value of stock option grants under our L3Harris SIPs is as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 Expected dividends 1.70 % 1.61 % 1.80 % 2.36 % Expected volatility 22.18 % 19.87 % 19.30 % 21.78 % Risk-free interest rates 1.68 % 2.72 % 1.80 % 1.23 % Expected term (years) 5.65 5.03 5.00 5.03
Schedule of Stock Option Activity	A summary of stock option activity under our L3 Harris SIPs as of January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In millions) Stock options outstanding June 28, 2019 4,195,201 $ 80.86 Granted 738,956 $ 204.85 Exercised (1,654,558 ) $ 79.35 Other — L3Harris Merger (1) 1,266,379 $ 112.83 Stock options outstanding January 3, 2020 4,545,978 $ 110.48 6.26 $ 454.57 Stock options exercisable January 3, 2020 3,807,022 $ 92.16 5.61 $ 450.42 _______________ (1) Represents L3 stock options converted to L3Harris stock options in accordance with the Merger Agreement.
Schedule of Nonvested Stock Options Activity	A summary of the status of our nonvested stock options at January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares Weighted-Average Grant-Date Fair Value Per Share Nonvested stock options June 28, 2019 856,753 $ 20.28 Granted 738,956 $ 38.61 Vested (856,753 ) $ 20.28 Nonvested stock options January 3, 2020 738,956 $ 38.61
Schedule of Restricted Stock and Restricted Stock Units Activity	A summary of the status of these awards at January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares or Units Weighted-Average Grant Price Per Share or Unit Restricted stock and restricted stock units outstanding at June 28, 2019 365,998 $ 134.06 Granted 260,167 $ 204.62 Vested (503,069 ) $ 149.39 Forfeited (16,916 ) $ 193.20 Other — L3Harris Merger (1) 429,587 $ 189.13 Restricted stock and restricted stock units outstanding at January 3, 2020 535,767 $ 196.22 _______________ (1) Represents L3 share-based awards converted to L3Harris restricted stock units in accordance with the Merger Agreement.
Schedule of Performance Shares Activity	A summary of the status of these awards at January 3, 2020 and changes during the two quarters ended January 3, 2020 is as follows: Shares or Units Weighted-Average Grant Price Per Share or Unit Performance share units outstanding at June 28, 2019 509,749 $ 126.73 Granted 55,020 $ 204.85 Performance based adjustment (1) 326,656 $ 129.84 Vested (836,405 ) $ 127.94 Performance share units outstanding at January 3, 2020 55,020 $ 204.85 _______________ (1) Represents adjustments for performance conditions that impact the number of shares that vest. All awards with such criteria automatically vested upon the closing of the L3Harris Merger.

INCOME FROM CONTINUING OPERAT_2

INCOME FROM CONTINUING OPERATIONS PER SHARE (Tables)	6 Months Ended
	Jan. 03, 2020
Earnings Per Share [Abstract]
Income From Continuing Operations Per Share	The computations of income from continuing operations per common share attributable to L3Harris common shareholders are as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions, except per share amounts) Income from continuing operations $ 823 $ 953 $ 702 $ 628 Adjustments for participating securities outstanding — (2 ) (2 ) (1 ) Income from continuing operations used in per basic and diluted common share calculations (A) $ 823 $ 951 $ 700 $ 627 Basic weighted average common shares outstanding (B) 221.2 118.0 118.6 122.6 Impact of dilutive share-based awards 2.5 2.5 2.5 1.7 Diluted weighted average common shares outstanding (C) 223.7 120.5 121.1 124.3 Income from continuing operations per basic common share (A)/(B) $ 3.72 $ 8.06 $ 5.90 $ 5.11 Income from continuing operations per diluted common share (A)/(C) $ 3.68 $ 7.89 $ 5.78 $ 5.04

LEASE COMMITMENTS (Tables)

LEASE COMMITMENTS (Tables)	6 Months Ended
	Jan. 03, 2020
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	Supplemental operating lease balance sheet information at January 3, 2020 is as follows: (In millions) Operating lease right-of-use assets $ 837 Other accrued items 129 Operating lease liabilities 781 Total operating lease liabilities $ 910
Schedule of Lease Expense and Supplemental Lease Information	ther supplemental lease information for the two quarters ended January 3, 2020 is as follows: (In millions, except lease term and discount rate) Cash paid for amounts included in the measurement of operating lease liabilities $ 91 Right-of-use assets obtained in exchange for new operating lease liabilities 17 Weighted average remaining lease term — operating leases (in years) 9.4 Weighted average discount rate — operating leases 3.1 %
Schedule of Future Lease Payments Under Non-cancelable Leases	uture lease payments under non-cancelable operating leases at January 3, 2020 were as follows: (In millions) Fiscal Years 2020 $ 162 2021 134 2022 123 2023 103 2024 86 Thereafter 450 Total future lease payments required 1,058 Less: imputed interest 148 Total $ 910
Schedule of Future Minimum Lease Payments for Operating Leases Under ASC 840	Future minimum lease payments for operating leases under ASC 840 at June 28, 2019 were as follows: (In millions) June 29, 2019 to July 3, 2020 $ 68 July 4, 2020 to July 2, 2021 62 July 3, 2021 to July 1, 2022 47 July 2, 2022 to June 30, 2023 40 July 1, 2023 to June 28, 2024 32 Thereafter 64 Total minimum lease payments required $ 313

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jan. 03, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of Derivative Instruments in Condensed Consolidated Balance Sheets	As of the end of fiscal 2019 , 2018 and 2017 , the fair values of our derivatives designated as foreign currency hedging instruments were not material. January 3, 2020 (In millions) Derivatives designated as hedging instruments: Foreign currency forward contracts Other current assets $ 8 Other non-current assets 2 Other accrued items 6 Other long-term liabilities 2

NON-OPERATING INCOME (Tables)

NON-OPERATING INCOME (Tables)	6 Months Ended
	Jan. 03, 2020
Nonoperating Income (Expense) [Abstract]
Schedule of Components of Non-operating Income	The components of non-operating income were as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Pension adjustment (1) $ 172 $ 186 $ 184 $ 164 Gain on pension plan curtailment 23 — — — Loss on extinguishment of debt (2) (2 ) — (24 ) — Adjustment to gain on sale of business — — — 2 Other (1 ) 2 (4 ) — $ 192 $ 188 $ 156 $ 166 _______________ (1) The non-service components of net periodic pension and postretirement benefit costs include interest cost, expected return on plan assets, amortization of net actuarial gain or loss and effect of curtailments or settlements. (2) Losses associated with our optional redemption of the entire outstanding $400 million principal amount of our 2.7% 2020 Notes in the two quarters ended January 3, 2020 and our optional redemption of the entire outstanding $800 million aggregate principal amount of our 2018 Redeemed Notes, the repayment in full of $253 million in remaining outstanding indebtedness under the 5 -year tranche of our $1.3 billion senior unsecured term loan facility and the termination of our 2015 Credit Agreement in fiscal 2018. See. Note 14: Debt for additional information.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCI") (Tables)	6 Months Ended
	Jan. 03, 2020
Equity [Abstract]
Schedule of Components of AOCI	The components of AOCI are summarized below: Foreign currency translation Net unrealized (losses) gains on hedging derivatives Unrecognized postretirement obligations Total AOCI (In millions) Balance at June 30, 2017 $ (113 ) $ (17 ) $ (146 ) $ (276 ) Other comprehensive income 13 1 122 136 Income taxes 2 — (29 ) (27 ) Other comprehensive income, net of tax 15 1 93 109 Reclassifications to retained earnings due to adoption of accounting standards update (1 ) (4 ) (30 ) (35 ) Balance at June 29, 2018 (99 ) (20 ) (83 ) (202 ) Other comprehensive loss (7 ) (24 ) (638 ) (669 ) Income taxes — 6 158 164 Other comprehensive loss, net of tax (7 ) (18 ) (480 ) (505 ) Balance at June 28, 2019 (106 ) (38 ) (563 ) (707 ) Other comprehensive income (loss) 25 (23 ) 231 233 Income taxes — 6 (53 ) (47 ) Other comprehensive income (loss), net of tax 25 (17 ) 178 186 Amounts reclassified to earnings from AOCI (1) — — 18 18 Income taxes — — (5 ) (5 ) Amounts reclassified to earnings from AOCI, net of tax — — 13 13 Balance at January 3, 2020 $ (81 ) $ (55 ) $ (372 ) $ (508 ) _______________ (1) Amounts reclassified to earnings from AOCI are included in the gain on sale of business and non-operating income line items in our Consolidated Statement of Income.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jan. 03, 2020
Income Tax Disclosure [Abstract]
Schedule of Provision For Income Tax	The provisions for current and deferred income taxes are summarized as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Current: United States $ 11 $ 105 $ (141 ) $ 117 International 37 9 12 9 State and local 16 8 (11 ) 6 64 122 (140 ) 132 Deferred: United States 33 15 324 121 International (15 ) (3 ) (3 ) 1 State and local (9 ) 26 25 7 9 38 346 129 $ 73 $ 160 $ 206 $ 261
Schedule of Provision for Income Taxes	The total income tax provision is summarized as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Continuing operations $ 73 $ 160 $ 206 $ 261 Discontinued operations — (1 ) (5 ) (110 ) Total income tax provision $ 73 $ 159 $ 201 $ 151
Schedule of Reconciliation of United States Statutory Income Tax Rate To Our Effective Income Tax Rate [Table Text Block]	A reconciliation of the U.S. statutory income tax rate to our effective income tax rate follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 U.S. statutory income tax rate 21.0 % 21.0 % 28.1 % 35.0 % State taxes 1.4 2.4 1.9 1.0 International income 0.9 (0.5 ) (0.5 ) (1.3 ) Research and development tax credit (4.7 ) (4.5 ) (2.9 ) (2.0 ) Foreign derived intangibles income deduction (0.8 ) (1.3 ) — — Change in valuation allowance (4.8 ) (1.8 ) 0.2 (0.2 ) U.S. production activity benefit — — (0.9 ) (0.5 ) Equity-based compensation (1) (5.4 ) (2.1 ) (1.8 ) (2.6 ) Settlement of tax audits — — (2.2 ) — U.S. tax reform — — 0.4 — Other items 0.4 1.2 0.4 (0.1 ) Effective income tax rate 8.0 % 14.4 % 22.7 % 29.3 % _______________ (1) Includes non-deductible equity-based compensation and excess tax benefits from equity-based compensation
Schedule of Components of Deferred Income Tax Assets Liabilities	The components of deferred income tax assets (liabilities) were as follows: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Deferred tax assets: Accruals $ 240 $ 152 $ 178 Tax loss and credit carryforwards 177 92 119 Share-based compensation 27 28 26 Capital loss carryforwards 44 95 101 Pension and other post-employment benefits 431 305 188 Operating lease obligation 213 — — Other 238 75 64 Valuation allowance (1) (185 ) (159 ) (181 ) Deferred tax assets, net 1,185 588 495 Deferred tax liabilities: Property, plant and equipment (159 ) (71 ) (65 ) Unbilled receivables (51 ) (65 ) (86 ) Acquired intangibles (2,037 ) (260 ) (268 ) Operating lease right-of-use asset (196 ) — — Other (121 ) (31 ) (36 ) Deferred tax liabilities (2,564 ) (427 ) (455 ) Net deferred tax assets (liabilities) $ (1,379 ) $ 161 $ 40 _______________ (1) The valuation allowance has been established to offset certain domestic and foreign deferred tax assets due to uncertainty regarding our ability to realize them in the future.
Schedule of Deferred Tax Assets, Net of Valuation Allowance	Net deferred tax assets (liabilities) were classified as follows in our Consolidated Balance Sheet: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Non-current deferred income tax assets $ 102 $ 173 $ 119 Non-current deferred income tax liabilities (1,481 ) (12 ) (79 ) $ (1,379 ) $ 161 $ 40
Schedule of Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Balance at beginning of period $ 204 $ 102 $ 90 $ 63 Additions based on tax positions taken during current period 35 31 17 52 Additions based on tax positions taken during prior periods — 80 23 — Additions for tax positions related to acquired entities 226 — — — Decreases based on tax positions taken during prior periods (7 ) (9 ) (28 ) (25 ) Decreases from lapse in statutes of limitations (20 ) — — — Balance at end of period $ 438 $ 204 $ 102 $ 90

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jan. 03, 2020
Segment Reporting [Abstract]
Schedule of Selected Financial Information by Business Segments	Other selected financial information by business segment and geographical area is summarized below: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Capital Expenditures Integrated Mission Systems $ 29 $ 1 $ 1 $ — Space and Airborne Systems 36 48 49 49 Communication Systems 22 29 25 16 Aviation Systems 64 54 37 22 Other non-reportable business segments (1) — 6 4 1 Corporate 22 23 20 27 Discontinued operations — — — 4 $ 173 $ 161 $ 136 $ 119 Depreciation and Amortization Integrated Mission Systems $ 37 $ 2 $ 2 $ 2 Space and Airborne Systems 31 50 54 55 Communication Systems 32 49 54 60 Aviation Systems 53 29 22 5 Other non-reportable business segments (1) — 3 5 8 Corporate 289 125 122 142 Discontinued operations — — — 39 $ 442 $ 258 $ 259 $ 311 Geographical Information for Continuing Operations U.S. operations: Revenue $ 8,485 $ 6,530 $ 5,854 $ 5,637 Long-lived assets $ 1865 $ 866 $ 892 $ 896 International operations: Revenue $ 778 $ 271 $ 314 $ 260 Long-lived assets $ 252 $ 28 $ 8 $ 8 _______________ (1) Includes capital expenditures and depreciation and amortization of the Harris Night Vision business prior to the date of divestiture on September 13, 2019 . See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for more information. Segment revenue, segment operating income and a reconciliation of segment operating income to total income from continuing operations before income taxes are as follows: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue Integrated Mission Systems $ 2,774 $ 48 $ 45 $ 38 Space and Airborne Systems 2,360 3,715 3,304 3,156 Communication Systems 2,151 2,208 2,015 1,891 Aviation Systems 2,038 672 668 697 Other non-reportable business segments (1) 23 165 148 121 Corporate eliminations (83 ) (7 ) (12 ) (6 ) $ 9,263 $ 6,801 $ 6,168 $ 5,897 Income from Continuing Operations before Income Taxes Segment Operating Income: Integrated Mission Systems $ 377 $ 9 $ 7 $ 7 Space and Airborne Systems 442 697 628 559 Communication Systems 493 637 561 522 Aviation Systems 289 76 54 131 Other business activities and non-reportable business segments (1) — 27 20 9 Unallocated corporate expenses and corporate eliminations (2) (140 ) (2 ) (65 ) (62 ) L3Harris Merger-related transaction and integration expenses and losses (390 ) (65 ) — — Amortization of acquisition-related intangibles (3) (289 ) (101 ) (101 ) (109 ) Gain on sale of business 229 — — — Pension adjustment (172 ) (186 ) (184 ) (164 ) Non-operating income 192 188 156 166 Net interest expense (123 ) (167 ) (168 ) (170 ) Total $ 908 $ 1,113 $ 908 $ 889 _______________ (1) Includes the operating results of the Harris Night Vision business prior to the date of divestiture on September 13, 2019 . See Note 3: Divestitures, Asset Sales and Discontinued Operations in these Notes for more information. (2) Includes: (i) $142 million of additional cost of sales related to the fair value step-up in inventory sold (see Note 5: Business Combination in these Notes for more information), a $12 million gain on the sale of an asset group and a $10 million non-cash cumulative adjustment to lease expense for the two quarters ended January 3, 2020 ; (ii) $47 million of charges related to our decision to transition and exit a commercial air-to-ground LTE radio communications line of business and other items, a $12 million non-cash adjustment for deferred compensation and $5 million of Exelis acquisition-related and other charges in fiscal 2018; and (iii) $58 million of Exelis acquisition-related and other charges in fiscal 2017. (3) Includes $239 million of amortization of identifiable intangible assets acquired as a result of the L3Harris Merger for the two quarters ended January 3, 2020 and $50 million , $101 million , $101 million and $109 million of amortization of identifiable intangible assets acquired as a result of our acquisition of Exelis for the two quarters ended January 3, 2020 and fiscal 2019, 2018 and 2017, respectively. Because the L3Harris Merger and the acquisition of Exelis benefited the entire Company as opposed to any individual segment, the amortization of identifiable intangible assets acquired was not allocated to any segment.
Schedule of Disaggregation of Revenue by Segment	Integrated Mission Systems: Integrated Mission Systems revenue is primarily derived from U.S. Government development and production contracts and is generally recognized over time using the POC cost-to-cost revenue recognition method. We disaggregate Integrated Mission Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Integrated Mission Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship Prime contractor $ 1,904 $ 25 $ 20 $ 24 Subcontractor 870 23 25 14 $ 2,774 $ 48 $ 45 $ 38 Revenue By Contract Type Fixed-price (1) $ 2,138 $ 48 $ 45 $ 37 Cost-reimbursable 636 — — 1 $ 2,774 $ 48 $ 45 $ 38 Revenue By Geographical Region United States $ 2,300 $ 30 $ 39 $ 27 International 474 18 6 11 $ 2,774 $ 48 $ 45 $ 38 _______________ (1) Includes revenue derived from time-and-materials contracts. Space and Airborne Systems: Space and Airborne Systems revenue is primarily derived from U.S. Government development and production contracts and is generally recognized over time using the POC cost-to-cost revenue recognition method. We disaggregate Space and Airborne Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Space and Airborne Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship Prime contractor $ 1,337 $ 2,246 $ 2,159 $ 2,067 Subcontractor 1,023 1,469 1,145 1,089 $ 2,360 $ 3,715 $ 3,304 $ 3,156 Revenue By Contract Type Fixed-price (1) $ 1,367 $ 2,097 $ 1,634 $ 1,390 Cost-reimbursable 993 1,618 1,670 1,766 $ 2,360 $ 3,715 $ 3,304 $ 3,156 Revenue By Geographical Region United States $ 2,037 $ 3,255 $ 2,937 $ 2,782 International 323 460 367 374 $ 2,360 $ 3,715 $ 3,304 $ 3,156 _______________ (1) Includes revenue derived from time-and-materials contracts. Communication Systems: Communication Systems revenue is primarily derived from fixed-price contracts and is generally recognized at the point in time when products are received and accepted by the customer for standard products offered to multiple customers and over time for customer-specific products, systems and services. We disaggregate Communication Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Communication Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship (1) Prime contractor $ 1,406 Subcontractor 745 $ 2,151 Revenue By Contract Type (1) Fixed-price (2) $ 1,849 Cost-reimbursable 302 $ 2,151 Revenue By Geographical Region United States $ 1,518 $ 1,281 $ 1,031 $ 880 International 633 927 984 1,011 $ 2,151 $ 2,208 $ 2,015 $ 1,891 _______________ (1) Prior to the L3Harris Merger, Communication Systems did not recognize significant revenue for customer-specific products and systems, and currently, such customer arrangements primarily exist at operating businesses acquired in connection with the L3Harris Merger. The “Revenue by Customer Relationship” and “Revenue by Contract Type” disaggregation categories were added beginning in the Fiscal Transition Period to best depict how the nature, amount, timing and uncertainty of revenue and cash flows from these types of customer arrangements are affected by economic factors. (2) Includes revenue derived from time-and-materials contracts. Aviation Systems: Aviation Systems revenue is primarily derived from fixed-price contracts and is generally recognized at the point in time when products are received and accepted by the customer for standard products offered to multiple customers and over time for customer-specific products, systems and services. We disaggregate Aviation Systems revenue by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of Aviation Systems revenue and cash flows are affected by economic factors: Two Quarters Ended Fiscal Years Ended January 3, 2020 June 28, 2019 June 29, 2018 June 30, 2017 (In millions) Revenue By Customer Relationship Prime contractor $ 1,246 $ 654 $ 656 $ 697 Subcontractor 792 18 12 — $ 2,038 $ 672 $ 668 $ 697 Revenue By Contract Type Fixed-price (1) $ 1,688 $ 587 $ 582 $ 636 Cost-reimbursable 350 85 86 61 $ 2,038 $ 672 $ 668 $ 697 Revenue By Geographical Region United States $ 1,514 $ 644 $ 627 $ 647 International 524 28 41 50 $ 2,038 $ 672 $ 668 $ 697 ______________ (1) Includes revenue derived from time-and-materials contracts.
Schedule of Total Assets by Segment	Total assets by business segment is as follows: January 3, 2020 June 28, 2019 June 29, 2018 (In millions) Total Assets Integrated Mission Systems $ 7,896 $ 87 $ 90 Space and Airborne Systems 6,829 5,027 4,953 Communication Systems 5,930 1,683 1,724 Aviation Systems 7,569 1,036 1,046 Corporate (1) 10,112 2,284 2,038 $ 38,336 $ 10,117 $ 9,851 _______________ (1) Identifiable intangible assets acquired in connection with the L3Harris Merger in the two quarters ended January 3, 2020 and our acquisition of Exelis in fiscal 2015 were recorded as Corporate assets because they benefited the entire Company as opposed to any individual segment. Identifiable intangible asset balances recorded as Corporate assets were approximately $8.5 billion , $869 million and $974 million at January 3, 2020 , June 28, 2019 and June 29, 2018, respectively. Corporate assets also consisted of cash, income taxes receivable, deferred income taxes, deferred compensation plan investments, buildings and equipment, as well as any assets of discontinued operations and divestitures. See Note 3: Divestitures, Asset Sales and Discontinued Operations

TRANSITION PERIOD COMPARATIVE_2

TRANSITION PERIOD COMPARATIVE DATA (UNAUDITED) (Tables)	6 Months Ended
	Jan. 03, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of Certain Comparative Financial Information for Transition Period	The following table presents certain comparative financial information for the two quarters ended January 3, 2020 and two quarters ended December 28, 2018 : Two Quarters Ended January 3, 2020 December 28, 2018 (In millions, except per share amounts) Revenue from product sales and services $ 9,263 $ 3,208 Cost of product sales and services (6,726 ) (2,105 ) Engineering, selling and administrative expenses (1,927 ) (583 ) Gain on sale of business 229 — Non-operating income 192 94 Interest income 12 1 Interest expense (135 ) (87 ) Income from continuing operations before income taxes 908 528 Income taxes (73 ) (87 ) Income from continuing operations 835 441 Discontinued operations, net of income taxes (1 ) (3 ) Net income 834 438 Noncontrolling interests, net of income taxes (12 ) — Net income attributable to L3Harris Technologies, Inc. $ 822 $ 438 Net income per common share attributable to L3Harris Technologies, Inc. common shareholders Basic Continuing operations $ 3.72 $ 3.74 Discontinued operations — (0.03 ) $ 3.72 $ 3.71 Diluted Continuing operations $ 3.68 $ 3.66 Discontinued operations (0.01 ) (0.02 ) $ 3.67 $ 3.64 Basic weighted average common shares outstanding 221.2 117.8 Diluted weighted average common shares outstanding 223.7 120.3

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) engineer in Thousands, employee in Thousands, $ in Millions	Sep. 13, 2019USD ($)	Jun. 29, 2019	Jan. 03, 2020USD ($)employeeengineersitecountry	Jun. 28, 2019USD ($)	Jun. 29, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 29, 2017
Business Combination, Separately Recognized Transactions [Line Items]
Number of countries in which entity operates | country			130
Number of employees | employee			50
Number of engineers | engineer			20
Proceeds from sales of businesses, net			$ 343	$ 0	$ 0	$ 1,014
Internal use software, useful life minimum			3 years
Internal use software, useful life maximum			10 years
Threshold for separate line item reporting of total current assets or total assets in Consolidated Balance Sheets			5.00%	5.00%			5.00%
Threshold for separate line item reporting of total current liabilities or total liabilities in Consolidated Balance Sheet			5.00%	5.00%			5.00%
Amortization period for contract costs			1 year
Revenue recognized from performance obligations satisfied in previous periods			$ 98	$ 59	$ 43	$ 45
Number of sites with future environmental liabilities | site			84
Number of sites owned | site			8
Number of sites associated with former locations or operations | site			66
Number of treatment or disposal sites not owned | site			10
Accrual for environment loss contingencies			$ 115
L3Harris
Business Combination, Separately Recognized Transactions [Line Items]
Exchange ratio		1.30
L3Harris | Harris Night Vision | Discontinued Operations, Disposed of by Sale
Business Combination, Separately Recognized Transactions [Line Items]
Cash price on sale of business	$ 350
Proceeds from sales of businesses, net	343
L3Harris | Former Harris Shareholders
Business Combination, Separately Recognized Transactions [Line Items]
Percentage of voting interests acquired		54.00%
L3Harris | Former L3 Shareholders
Business Combination, Separately Recognized Transactions [Line Items]
Percentage of voting interests acquired		46.00%
Maximum | Building
Business Combination, Separately Recognized Transactions [Line Items]
Property, plant and equipment, useful life			45 years
Maximum | Machinery and Equipment
Business Combination, Separately Recognized Transactions [Line Items]
Property, plant and equipment, useful life			10 years
Minimum | Building
Business Combination, Separately Recognized Transactions [Line Items]
Property, plant and equipment, useful life			2 years
Minimum | Machinery and Equipment
Business Combination, Separately Recognized Transactions [Line Items]
Property, plant and equipment, useful life			2 years
Other non-reportable business segments | L3Harris | Harris Night Vision | Discontinued Operations, Disposed of by Sale
Business Combination, Separately Recognized Transactions [Line Items]
Cash price on sale of business	350
Proceeds from sales of businesses, net	$ 343
Other current assets
Business Combination, Separately Recognized Transactions [Line Items]
Capitalized costs to obtain or fulfill a contract			$ 14
Other non-current assets
Business Combination, Separately Recognized Transactions [Line Items]
Capitalized costs to obtain or fulfill a contract			$ 48

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Average Warranty Period by Segment (Details)	6 Months Ended
	Jan. 03, 2020
Integrated Mission Systems | Minimum
Warranty Period [Line Items]
Average Warranty Period	1 year
Integrated Mission Systems | Maximum
Warranty Period [Line Items]
Average Warranty Period	3 years
Space and Airborne Systems | Minimum
Warranty Period [Line Items]
Average Warranty Period	1 year
Space and Airborne Systems | Maximum
Warranty Period [Line Items]
Average Warranty Period	3 years
Communication Systems | Minimum
Warranty Period [Line Items]
Average Warranty Period	1 year
Communication Systems | Maximum
Warranty Period [Line Items]
Average Warranty Period	5 years
Aviation Systems | Minimum
Warranty Period [Line Items]
Average Warranty Period	1 year
Aviation Systems | Maximum
Warranty Period [Line Items]
Average Warranty Period	2 years

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Net EAC Adjustments (Details) - Contracts Accounted for under Percentage of Completion - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Change in Accounting Estimate [Line Items]
Net EAC adjustments, before income taxes	$ 137	$ 17	$ (19)	$ (1)
Net EAC adjustments, net of income taxes	$ 103	$ 13	$ (13)	$ (1)
Net EAC adjustments, net of income taxes, per diluted share (in dollars per share)	$ 0.46	$ 0.10	$ (0.11)	$ (0.01)

ACCOUNTING CHANGES OR RECENT _2

ACCOUNTING CHANGES OR RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 29, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU assets	$ 837
ROU liabilities	$ 910
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU assets		$ 270
ROU liabilities		$ 289

DIVESTITURES, ASSET SALES AND_3

DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 13, 2019	Aug. 30, 2019	Apr. 28, 2017	Mar. 31, 2017	Jan. 01, 2017	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of businesses, net						$ 343		$ 0	$ 0	$ 1,014
Gain (loss) on sale of discontinued operations, net						12		0	0	0
Proceeds from sale of asset group						$ 20		$ 0	$ 0	$ 0
Discontinued operations (in dollars per share)						$ (0.01)	$ (0.02)	$ (0.03)	$ (0.02)	$ (0.68)
Harris Night Vision | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) before income taxes								$ 27	$ 20	$ 9
Harris Night Vision | L3Harris | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash price on sale of business	$ 350
Proceeds from sales of businesses, net	343
Gain (loss) on sale of discontinued operations, net	$ 229
Stormscope | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of product line		$ 12
Stormscope | L3Harris | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of asset group		$ 20
IT Services | Discontinued Operations, Disposed of by Sale | Critical Networks
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of discontinued operations, net			$ (28)
Proceeds from sale of discontinued operations, subject to post-closing adjustments, net			646
Gain on disposal of discontinued operation, net of tax			$ 55
Discontinued operations (in dollars per share)			$ 0.44
Goodwill assigned to disposal group				$ 487
Impairment of goodwill and other assets				240
Goodwill impairment loss				$ 228
CapRock | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of discontinued operations, net					$ 14
Proceeds from sale of discontinued operations, subject to post-closing adjustments, net					368
Gain on disposal of discontinued operation, net of tax					$ 61
Discontinued operations (in dollars per share)					$ 0.49

DIVESTITURES, ASSET SALES AND_4

DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS - Assets and Liabilities of Harris Night Vision Business Classified as Held For Sale (Details) - Harris Night Vision - Discontinued Operations, Held-for-sale or Disposed of by Sale $ in Millions	Jun. 28, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables	$ 18
Inventories	52
Property, plant and equipment	29
Goodwill	30
Other intangible assets	4
Assets of disposal group held for sale	133
Accounts payable	13
Contract liabilities	1
Compensation and benefits	3
Other accrued items	3
Defined benefit plans	16
Liabilities of disposal group held for sale	$ 36

DIVESTITURES, ASSET SALES AND_5

DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS - Income Statement (Details) - USD ($) $ in Millions	Jan. 01, 2017	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of discontinued operations, net		$ 12		$ 0	$ 0	$ 0
Discontinued operations, net of income taxes		(1)	$ (3)	(4)	(3)	(85)
Discontinued Operations, Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from product sales and services		0		0	0	1,039
Cost of product sales and services		0		0	0	(885)
Engineering, selling and administrative expenses		0		0	0	(91)
Impairment of goodwill and other assets		0		0	0	(240)
Non-operating loss, net		(1)		(5)	(8)	(7)
Loss before income taxes		(1)		(5)	(8)	(184)
Loss on sale of discontinued operations, net		0		0	0	(11)
Income tax benefit		0		1	5	110
Discontinued operations, net of income taxes		(1)		(4)	(3)	(85)
Discontinued Operations, Held-for-sale or Disposed of by Sale | IT Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from product sales and services				0	0	895
Cost of product sales and services				0	0	(777)
Engineering, selling and administrative expenses				0	0	(68)
Impairment of goodwill and other assets				0	0	(240)
Non-operating loss, net				(1)	(4)	(9)
Loss before income taxes				(1)	(4)	(199)
Loss on sale of discontinued operations, net				0	0	(28)
Income tax benefit				0	5	69
Discontinued operations, net of income taxes				(1)	1	(158)
Discontinued Operations, Held-for-sale or Disposed of by Sale | CapRock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from product sales and services		0		0	0	144
Cost of product sales and services		0		0	0	(108)
Engineering, selling and administrative expenses		0		0	0	(23)
Non-operating loss, net		(1)		(3)	(4)	4
Loss before income taxes		(1)		(3)	(4)	17
Loss on sale of discontinued operations, net		0		0	0	14
Income tax benefit		0		1	0	41
Discontinued operations, net of income taxes		$ (1)		$ (2)	$ (4)	72
Discontinued Operations, Disposed of by Sale | Broadcast Communications
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-operating loss, net						(2)
Decrease in loss in sale of discontinued operations, net of tax						$ 3
Discontinued Operations, Disposed of by Sale | CapRock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of discontinued operations, net	$ 14

DIVESTITURES, ASSET SALES AND_6

DIVESTITURES, ASSET SALES AND DISCONTINUED OPERATIONS - Depreciation and Amortization, Capital Expenditures and Significant Non-cash Items (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Significant non-cash items:
Loss on sale of discontinued operations, net	$ 12	$ 0	$ 0	$ 0
Discontinued Operations, Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization				39
Capital expenditures				4
Significant non-cash items:
Impairment of goodwill and other assets	0	0	0	(240)
Loss on sale of discontinued operations, net	$ 0	$ 0	$ 0	$ (11)

RESTRUCTURING AND OTHER EXIT _3

RESTRUCTURING AND OTHER EXIT COSTS - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jan. 03, 2020USD ($)	Jan. 03, 2020USD ($)	Jun. 29, 2018USD ($)	Jun. 30, 2017USD ($)	Oct. 01, 2020floor	Dec. 03, 2019floor	Jun. 28, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 117	$ 51
Restructuring reserve	$ 65	65	45	$ 43			$ 16
Integration Activities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve			27				16
Workforce reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges		117	1
Restructuring reserve	58	58	2	12			0
Lease Termination
Restructuring Cost and Reserve [Line Items]
Number of leased floors | floor						6
Loss on termination of lease	2
Impairment charge for ROU asset	46
Facilities closing and contract termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	50
Restructuring reserve	$ 7	$ 7	43	31			$ 16
Remaining lease term (less than)		4 years
Engineering, selling and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring reserve			18
Engineering, selling and administrative expenses | Exelis
Restructuring Cost and Reserve [Line Items]
Restructuring charges			5	$ 58
Engineering, selling and administrative expenses | Facilities closing and contract termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 45
Forecast | Lease Termination
Restructuring Cost and Reserve [Line Items]
Number of leased floors | floor					5

RESTRUCTURING AND OTHER EXIT _4

RESTRUCTURING AND OTHER EXIT COSTS - Summary of Restructuring and Other Exit Activities (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	$ 16	$ 45	$ 43
Additional provisions	117		51
Payments	(63)	(29)	(47)
Other	(5)		(2)
Balance at the end of the period	65	16	45
Employee severance-related costs
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	0	2	12
Additional provisions	117		1
Payments	(62)	(2)	(9)
Other	3		(2)
Balance at the end of the period	58	0	2
Facilities consolidation and other exit costs
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	16	43	31
Additional provisions	0		50
Payments	(1)	(27)	(38)
Other	(8)		0
Balance at the end of the period	$ 7	$ 16	$ 43

BUSINESS COMBINIATION - Additio

BUSINESS COMBINIATION - Additional Information (Details) $ / shares in Units, shares in Thousands, employee in Thousands, $ in Millions	Jun. 29, 2019employee$ / sharesshares	Jan. 03, 2020USD ($)employee	Dec. 31, 2018USD ($)	Jun. 29, 2018USD ($)
Business Acquisition [Line Items]
Number of employees | employee		50
Restructuring charges		$ 117		$ 51
Workforce reduction
Business Acquisition [Line Items]
Restructuring charges		117		$ 1
L3Harris
Business Acquisition [Line Items]
Exchange ratio	1.30
Shares issued for total merger consideration (in shares) | shares	104,100
Price per share of common stock (in dollars per share) | $ / shares	$ 189.13
Merger-related charges		532
Additional cost of sales related to fair value step-up in inventory sold		142
Restructuring charges		117
Transaction costs		83
Integration costs		72
Equity acceleration upon change in control		70
Facility consolidation costs		48
L3Harris | L3
Business Acquisition [Line Items]
Number of employees | employee	31
Revenue from product sales and services — pro forma			$ 10,000
Shares issued for total merger consideration (in shares) | shares	80,080
Net revenues from acquiree for the reporting period		5,700
Income from continuing operations before income taxes of acquiree for the reporting period		400
L3Harris | L3 | Workforce reduction
Business Acquisition [Line Items]
Restructuring charges		$ 108
L3Harris | Former Harris Shareholders
Business Acquisition [Line Items]
Percentage of voting interests acquired	54.00%
L3Harris | Former L3 Shareholders
Business Acquisition [Line Items]
Percentage of voting interests acquired	46.00%

BUSINESS COMBINIATION - Calcula

BUSINESS COMBINIATION - Calculation of Consideration Transferred (Details) $ / shares in Units, $ in Millions	Jun. 29, 2019USD ($)$ / sharesshares	Jan. 03, 2020USD ($)shares	Jun. 28, 2019USD ($)shares	Jun. 29, 2018USD ($)shares	Jun. 30, 2017USD ($)
Business Acquisition [Line Items]
Common shares, outstanding (in shares) | shares		218,226,614	118,552,599	118,280,120
Less cash acquired		$ (1,130)	$ 0	$ 0	$ 0
L3Harris
Business Acquisition [Line Items]
L3 shares settled in shares of L3Harris common stock (in shares) | shares	104,100,000
Exchange Ratio	1.30
Price per share of common stock as of the closing date (in dollars per share) | $ / shares	$ 189.13
Fair value of Harris common stock issued for Exelis common stock	$ 19,689
Withholding tax liability incurred for converted L3 share-based awards	45
Fair value of replacement award consideration	156
Fair value of total consideration	19,845
Less cash acquired	(1,195)
Total net consideration transferred	18,650
L3Harris | Restricted Stock Units
Business Acquisition [Line Items]
Fair value of Harris common stock issued for Exelis common stock	10
L3Harris | Stock Options
Business Acquisition [Line Items]
Fair value of Harris common stock issued for Exelis common stock	$ 101
L3Harris | L3
Business Acquisition [Line Items]
Common shares, outstanding (in shares) | shares			79,630,000
L3 shares settled in shares of L3Harris common stock (in shares) | shares	80,080,000
L3Harris | L3 | Restricted Stock Units
Business Acquisition [Line Items]
L3 shares settled in shares of L3Harris common stock (in shares) | shares	410,000
L3Harris | L3 | Performance Share Units
Business Acquisition [Line Items]
L3 shares settled in shares of L3Harris common stock (in shares) | shares	40,000

BUSINESS COMBINIATION - Prelimi

BUSINESS COMBINIATION - Preliminary Measurement of Assets Acquired, Liabilities Assumed and Noncontrolling Interest (Details) - USD ($) $ in Millions	6 Months Ended
	Jan. 03, 2020	Jun. 29, 2019	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Preliminary Fair Value
Goodwill	$ 20,001		$ 5,340	$ 5,372	$ 5,366
L3Harris
Preliminary Fair Value
Receivables	834
Contract assets	1,667
Inventories	1,019
Other current assets	497
Property, plant and equipment	1,215
Operating lease right-of-use assets	704
Goodwill	14,649
Other intangible assets	7,877	$ 7,877
Other non-current assets	321
Total assets acquired	28,783
Accounts payable	884
Contract liabilities	718
Other current liabilities	832
Operating lease liabilities	715
Defined benefit plans	1,411
Long-term debt, net	3,548
Other long-term liabilities	1,870
Total liabilities assumed	9,978
Net assets acquired	18,805
Noncontrolling interests	(155)
Total net consideration transferred	18,650
Measurement Period Adjustments
Receivables	(15)
Contract assets	(41)
Inventories	(37)
Other current assets	(20)
Property, plant and equipment	39
Operating lease right-of-use assets	0
Goodwill	(774)
Other intangible assets	1,109
Other non-current assets	(6)
Total assets acquired	255
Accounts payable	(14)
Contract liabilities	(4)
Other current liabilities	60
Operating lease liabilities	0
Defined benefit plans	0
Long-term debt, net	0
Other long-term liabilities	209
Total liabilities assumed	251
Net assets acquired	4
Noncontrolling interests	(4)
Total net consideration transferred	$ 0
As Previously Reported | L3Harris
Preliminary Fair Value
Receivables		849
Contract assets		1,708
Inventories		1,056
Other current assets		517
Property, plant and equipment		1,176
Operating lease right-of-use assets		704
Goodwill		15,423
Other intangible assets		6,768
Other non-current assets		327
Total assets acquired		28,528
Accounts payable		898
Contract liabilities		722
Other current liabilities		772
Operating lease liabilities		715
Defined benefit plans		1,411
Long-term debt, net		3,548
Other long-term liabilities		1,661
Total liabilities assumed		9,727
Net assets acquired		18,801
Noncontrolling interests		(151)
Total net consideration transferred		$ 18,650

BUSINESS COMBINIATION - Identif

BUSINESS COMBINIATION - Identifiable Intangible Assets Acquired (Details) - L3Harris - USD ($) $ in Millions	Jun. 29, 2019	Jan. 03, 2020
Business Acquisition [Line Items]
Weighted Average Amortization Period	14 years
Finite-lived intangible assets acquired	$ 6,005
Total identifiable intangible assets	7,877	$ 7,877
Trade names
Business Acquisition [Line Items]
Indefinite-lived intangible assets acquired	1,803
In-process research and development
Business Acquisition [Line Items]
Indefinite-lived intangible assets acquired	$ 69
Customer relationships | Governmental
Business Acquisition [Line Items]
Weighted Average Amortization Period	15 years
Finite-lived intangible assets acquired	$ 4,677
Customer relationships | Commercial
Business Acquisition [Line Items]
Weighted Average Amortization Period	15 years
Finite-lived intangible assets acquired	$ 643
Trade names
Business Acquisition [Line Items]
Weighted Average Amortization Period	9 years
Finite-lived intangible assets acquired	$ 123
Developed technology
Business Acquisition [Line Items]
Weighted Average Amortization Period	7 years
Finite-lived intangible assets acquired	$ 562

BUSINESS COMBINIATION - Pro For

BUSINESS COMBINIATION - Pro Forma Results (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Revenue from product sales and services — as reported	$ 9,263	$ 3,208	$ 6,801	$ 6,168	$ 5,897
Income from continuing operations — as reported	$ 835	441	$ 953	$ 702	$ 628
L3Harris
Business Acquisition [Line Items]
Revenue from product sales and services — as reported		3,208
Revenue from product sales and services — pro forma		8,404
Income from continuing operations — as reported		441
Income from continuing operations — pro forma		$ 760

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($)	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Receivables [Abstract]
Accounts receivable	$ 1,228,000,000	$ 459,000,000	$ 468,000,000
Less allowances for collection losses	(12,000,000)	(2,000,000)	(2,000,000)
Receivables	1,216,000,000	$ 457,000,000	$ 466,000,000
RSA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Authorized amount of accounts receivables outstanding under agreement	$ 100,000,000

CONTRACT ASSETS AND CONTRACT _3

CONTRACT ASSETS AND CONTRACT LIABILITIES (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 2,459	$ 807	$ 782
Contract liabilities, current	(1,214)	(496)	(372)
Contract liabilities, non-current	(87)	(42)	(35)
Net contract assets	1,158	269	375
Components of Contract Assets:
Unbilled contract receivables, gross	3,690	916	881
Progress payments	(1,231)	(109)	(99)
Contract assets	2,459	807	782
Recognized revenue related to contract liabilities outstanding at the end of the year	$ 776	$ 287	$ 204	$ 221

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Inventory Disclosure [Abstract]
Finished products	$ 216	$ 77	$ 91
Work in process	386	90	121
Raw materials and supplies	617	193	199
Inventories	$ 1,219	$ 360	$ 411

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Property, Plant and Equipment
Land	$ 90	$ 40	$ 43
Software capitalized for internal use	287	187	171
Buildings	1,073	631	620
Machinery and equipment	2,194	1,429	1,349
Property, plant and equipment, gross	3,644	2,287	2,183
Less accumulated depreciation and amortization	(1,527)	(1,393)	(1,283)
Property, plant and equipment	2,117	894	900
Depreciation and amortization expense related to property, plant and equipment	$ 157	$ 138	$ 143	$ 147

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Goodwill [Roll Forward]
Beginning Balance	$ 5,340	$ 5,372	$ 5,366
Currency translation adjustments	12	(2)	6
Decrease from reclassification to assets of disposal group held for sale		(30)
Goodwill acquired	14,649
Ending Balance	20,001	5,340	5,372
Harris Night Vision | Discontinued Operations, Held-for-sale or Disposed of by Sale
Goodwill [Roll Forward]
Beginning Balance	30
Ending Balance		30
Communication Systems
Goodwill [Roll Forward]
Beginning Balance	64	64	64
Currency translation adjustments	1		0
Decrease from reclassification to assets of disposal group held for sale		0
Goodwill acquired	5,704
Ending Balance	5,768	64	64
Space and Airborne Systems
Goodwill [Roll Forward]
Beginning Balance	3,737	3,739	3,733
Currency translation adjustments	4	(2)	6
Decrease from reclassification to assets of disposal group held for sale		0
Goodwill acquired	1,390
Ending Balance	5,131	3,737	3,739
Communication Systems
Goodwill [Roll Forward]
Beginning Balance	927	927	927
Currency translation adjustments	0		0
Decrease from reclassification to assets of disposal group held for sale		0
Goodwill acquired	3,316
Ending Balance	4,243	927	927
Aviation Systems
Goodwill [Roll Forward]
Beginning Balance	612	612	612
Currency translation adjustments	7	0	0
Decrease from reclassification to assets of disposal group held for sale		0
Goodwill acquired	4,239
Ending Balance	4,859	612	612
Other non-reportable business segments
Goodwill [Roll Forward]
Beginning Balance	0	30	30
Currency translation adjustments	0	0	0
Decrease from reclassification to assets of disposal group held for sale		(30)
Goodwill acquired	0
Ending Balance	$ 0	$ 0	$ 30

INTANGIBLE ASSETS - Summary of

INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,461	$ 1,453	$ 1,459
Accumulated Amortization	875	583	470
Net	6,586	870	989
Total intangibles, gross carrying amount	9,333
Total intangible assets	8,458	870	989
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,518	1,203	1,206
Accumulated Amortization	653	419	327
Net	5,865	784	879
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	768	206	208
Accumulated Amortization	183	136	119
Net	585	70	89
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	165	42	43
Accumulated Amortization	35	26	22
Net	130	16	21
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10	2	2
Accumulated Amortization	4	2	2
Net	6	$ 0	$ 0
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangibles	69
Trade names
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangibles	$ 1,803

INTANGIBLE ASSETS - Additional

INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 290	$ 115	$ 117	$ 126

INTANGIBLE ASSETS - Future Esti

INTANGIBLE ASSETS - Future Estimated Amortization Expense (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 711
2021	632
2022	617
2023	596
2024	568
Thereafter	3,462
Net	$ 6,586	$ 870	$ 989

ACCRUED WARRENTIES (Details)

ACCRUED WARRENTIES (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Changes in warranty liability
Balance at the beginning of the period	$ 25	$ 24	$ 26
Acquisitions during the period	83	0	0
Accruals for product warranties issued during the period	23	16	13
Settlements made during the period	(23)	(11)	(14)
Other, including adjustments for divestitures and foreign currency translation	4	(4)	(1)
Balance at the end of the period	$ 112	$ 25	$ 24

CREDIT ARRANGEMENTS (Details)

CREDIT ARRANGEMENTS (Details) - Senior Unsecured Debt - Revolving Credit Facility	Jun. 28, 2019USD ($)extension	Jun. 26, 2018USD ($)	Jan. 03, 2020USD ($)
2019 Credit Agreement
Line of Credit Facility [Line Items]
Value of senior unsecured revolving credit arrangement	$ 2,000,000,000
Term of senior unsecured revolving credit agreement	5 years
Sub-limit for swingline loans	$ 140,000,000
Sub-limit for letters of credit	350,000,000
Foreign currency sub-limit	400,000,000
Provision for maximum amount of commitments	1,000,000,000
Provision for maximum amount of credit extensions	$ 3,000,000,000
Unused commitment fee percentage	0.20%
Maximum allowable percentage of consolidated total indebtedness to total capital	0.65
Payment failures on other debt which can trigger an event of default	$ 200,000,000
Amount of unsatisfied final judgment or orders considered an event of default	200,000,000
Amount of certain ERISA liability incurrence considered an event of default	$ 200,000,000
Period to request extension of maturity date in event of default	45 days
Maturity date extension period in event of default	1 year
Number of extension periods per calendar year in event of default | extension	1
Number of extension periods in event of default | extension	2
Borrowings outstanding			$ 0
2019 Credit Agreement | Maximum
Line of Credit Facility [Line Items]
Unused commitment fee percentage	0.30%
2019 Credit Agreement | Minimum
Line of Credit Facility [Line Items]
Unused commitment fee percentage	0.125%
2019 Credit Agreement | LIBOR
Line of Credit Facility [Line Items]
Rate divisor percentage	1.00%
2019 Credit Agreement | Eurodollar
Line of Credit Facility [Line Items]
Interest rate margin	1.375%
Interest rate margin, base rate	1.00%
Interest rate margin, initial rate	0.375%
2019 Credit Agreement | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Interest rate margin	1.875%
Interest rate margin, initial rate	0.875%
2019 Credit Agreement | Eurodollar | Minimum
Line of Credit Facility [Line Items]
Interest rate margin	1.125%
Interest rate margin, initial rate	0.125%
2019 Credit Agreement | NYFRB
Line of Credit Facility [Line Items]
Interest rate margin, base rate	0.50%
2018 Credit Agreement
Line of Credit Facility [Line Items]
Value of senior unsecured revolving credit arrangement		$ 1,000,000,000
Term of senior unsecured revolving credit agreement		5 years

DEBT - Long-term Debt (Details)

DEBT - Long-term Debt (Details) - USD ($) $ in Millions	Jan. 03, 2020	Nov. 27, 2019	Jun. 29, 2019	Jun. 28, 2019	Dec. 28, 2018	Jun. 29, 2018
Debt Instrument [Line Items]
Total debt	$ 6,825			$ 3,443		$ 3,740
Plus: unamortized bond premium	154			0		0
Less: unamortized discounts and issuance costs	(28)			(24)		(28)
Total debt, net	6,951			3,419		3,712
Less: current portion of long-term debt, net	(257)			(656)		(304)
Total long-term debt, net	6,694			2,763		3,408
Variable-rate debt
Debt Instrument [Line Items]
Total debt	250			250		550
Plus: unamortized bond premium			$ 171
Total debt, net			$ 3,520
Variable-rate debt | Floating rate notes, due February 27, 2019
Debt Instrument [Line Items]
Total debt	0			0		300
Variable-rate debt | Floating rate notes, due April 30, 2020
Debt Instrument [Line Items]
Total debt	250			250		250
Fixed-rate debt
Debt Instrument [Line Items]
Total debt	6,575			$ 3,193		3,190
Fixed-rate debt | 2.7% notes, due April 27, 2020
Debt Instrument [Line Items]
Debt interest rate				2.70%	2.70%
Total debt	$ 0			$ 400		400
Fixed-rate debt | 4.95% notes, due February 15, 2021
Debt Instrument [Line Items]
Debt interest rate	4.95%
Total debt	$ 650			0		0
Fixed-rate debt | 3.85% notes due June 15, 2023 (“3.85% 2023 Notes”)
Debt Instrument [Line Items]
Debt interest rate	3.85%
Total debt	$ 800			0		0
Fixed-rate debt | 3.95% notes, due May 28, 2024
Debt Instrument [Line Items]
Debt interest rate	3.95%
Total debt	$ 350			0		0
Fixed-rate debt | 3.832% notes, due April 27, 2025
Debt Instrument [Line Items]
Debt interest rate	3.832%
Total debt	$ 600			600		600
Fixed-rate debt | 7.0% debentures, due January 15, 2026
Debt Instrument [Line Items]
Debt interest rate	7.00%
Total debt	$ 100			100		100
Fixed-rate debt | 3.85% notes, due December 15, 2026
Debt Instrument [Line Items]
Debt interest rate	3.85%
Total debt	$ 550			0		0
Fixed-rate debt | 6.35% debentures, due February 1, 2028
Debt Instrument [Line Items]
Debt interest rate	6.35%
Total debt	$ 26			26		26
Fixed-rate debt | 4.40% notes, due June 15, 2028
Debt Instrument [Line Items]
Debt interest rate	4.40%
Total debt	$ 1,850			850		850
Fixed-rate debt | 2.900% notes, due December 15, 2029
Debt Instrument [Line Items]
Debt interest rate	2.90%	2.90%
Total debt	$ 400			0		0
Fixed-rate debt | 4.854% notes, due April 27, 2035
Debt Instrument [Line Items]
Debt interest rate	4.854%
Total debt	$ 400			400		400
Fixed-rate debt | 6.15% notes, due December 15, 2040
Debt Instrument [Line Items]
Debt interest rate	6.15%
Total debt	$ 300			300		300
Fixed-rate debt | 5.054% notes, due April 27, 2045
Debt Instrument [Line Items]
Debt interest rate	5.054%
Total debt	$ 500			500		500
Other
Debt Instrument [Line Items]
Total debt	$ 49			$ 17		$ 14

DEBT - Potential Maturities of

DEBT - Potential Maturities of Long-term Debt (Details) $ in Millions	Jan. 03, 2020USD ($)
Debt Disclosure [Abstract]
Fiscal 2020	$ 257
Fiscal 2021	657
Fiscal 2022	5
Fiscal 2023	804
Fiscal 2024	352
Thereafter	$ 4,750

DEBT - Debt Exchanged Narrative

DEBT - Debt Exchanged Narrative (Details) $ in Millions	Jul. 02, 2019USD ($)day	Jul. 01, 2019USD ($)	Jan. 03, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 28, 2019USD ($)	Jun. 29, 2018USD ($)
Debt Instrument [Line Items]
Long-term debt			$ 6,951		$ 3,419	$ 3,712
Unamortized bond premium			$ 154		$ 0	$ 0
Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt				$ 3,520
Unamortized bond premium				$ 171
L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)	$ 3,350
Debt exchange to cash conversion ratio	0.001
Days in registered exchange offer period | day	365
Debt special additional interest rate percentage per year	0.25%
Days in registered exchange offer period following date of default | day	90
4.95% notes due February 15, 2021 (“4.95% 2021 Notes”) | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt interest rate	4.95%
Interest rate margin	0.25%
3.85% notes due June 15, 2023 (“3.85% 2023 Notes”) | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt interest rate	3.85%
Debt instrument redemption price percentage	100.00%
Interest rate margin	0.20%
3.85% notes due December 15, 2026 (“3.85% 2026 Notes”) | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt interest rate	3.85%
Interest rate margin	0.25%
4.40% notes due June 15, 2028 (“4.40% 2028 Notes”) | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt interest rate	4.40%
Interest rate margin	0.25%
3.95% notes due May 28, 2024 (“3.95% 2024 Notes”) | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt interest rate	3.95%
Interest rate margin	0.20%
Minimum | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt special additional interest rate percentage per year	0.25%
Maximum | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Debt special additional interest rate percentage per year	0.50%
L3 | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	$ 329
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		$ 3,350
L3 | L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	329
L3 | 4.95% notes due February 15, 2021 (“4.95% 2021 Notes”) | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	149
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		650
L3 | 3.85% notes due June 15, 2023 (“3.85% 2023 Notes”) | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	59
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		800
L3 | 3.85% notes due December 15, 2026 (“3.85% 2026 Notes”) | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	15
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		550
L3 | 4.40% notes due June 15, 2028 (“4.40% 2028 Notes”) | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	82
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		1,000
L3 | 3.95% notes due May 28, 2024 (“3.95% 2024 Notes”) | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	$ 24
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		$ 350

DEBT - Schedule of Debt Exchang

DEBT - Schedule of Debt Exchanged (Details) - USD ($) $ in Millions	Jul. 02, 2019	Jul. 01, 2019	Jan. 03, 2020	Jun. 29, 2019	Jun. 28, 2019	Jun. 29, 2018
Debt Instrument [Line Items]
Long-term debt			$ 6,951		$ 3,419	$ 3,712
Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt				$ 3,520
L3 | Senior Unsecured Debt
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		$ 3,350
Long-term debt	$ 329
L3 | Senior Unsecured Debt | 4.95% notes due February 15, 2021 (“4.95% 2021 Notes”)
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		650
Long-term debt	149
L3 | Senior Unsecured Debt | 3.85% notes due June 15, 2023 (“3.85% 2023 Notes”)
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		800
Long-term debt	59
L3 | Senior Unsecured Debt | 3.95% notes due May 28, 2024 (“3.95% 2024 Notes”)
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		350
Long-term debt	24
L3 | Senior Unsecured Debt | 3.85% notes due December 15, 2026 (“3.85% 2026 Notes”)
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		550
Long-term debt	15
L3 | Senior Unsecured Debt | 4.40% notes due June 15, 2028 (“4.40% 2028 Notes”)
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)		$ 1,000
Long-term debt	82
L3Harris | Senior Unsecured Debt
Debt Instrument [Line Items]
Aggregate Principal Amount of L3 Notes (prior to debt exchange)	3,350
Aggregate Principal Amount of New L3Harris Notes Issued	$ 3,021
L3Harris | Senior Unsecured Debt | 4.95% notes due February 15, 2021 (“4.95% 2021 Notes”)
Debt Instrument [Line Items]
Debt exchange, converted interest rate	4.95%	4.95%
Aggregate Principal Amount of New L3Harris Notes Issued	$ 501
L3Harris | Senior Unsecured Debt | 3.85% notes due June 15, 2023 (“3.85% 2023 Notes”)
Debt Instrument [Line Items]
Debt exchange, converted interest rate	3.85%	3.85%
Aggregate Principal Amount of New L3Harris Notes Issued	$ 741
L3Harris | Senior Unsecured Debt | 3.95% notes due May 28, 2024 (“3.95% 2024 Notes”)
Debt Instrument [Line Items]
Debt exchange, converted interest rate	3.95%	3.95%
Aggregate Principal Amount of New L3Harris Notes Issued	$ 326
L3Harris | Senior Unsecured Debt | 3.85% notes due December 15, 2026 (“3.85% 2026 Notes”)
Debt Instrument [Line Items]
Debt exchange, converted interest rate	3.85%	3.85%
Aggregate Principal Amount of New L3Harris Notes Issued	$ 535
L3Harris | Senior Unsecured Debt | 4.40% notes due June 15, 2028 (“4.40% 2028 Notes”)
Debt Instrument [Line Items]
Debt exchange, converted interest rate	4.40%	4.40%
Aggregate Principal Amount of New L3Harris Notes Issued	$ 918
L3Harris | L3 | Senior Unsecured Debt
Debt Instrument [Line Items]
Long-term debt	$ 329

DEBT - 2020 Debt Activity (Deta

DEBT - 2020 Debt Activity (Details) - USD ($)	Dec. 16, 2019	Nov. 27, 2019	Jun. 29, 2018	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017	Dec. 28, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 2,000,000	$ 0	$ 24,000,000	$ 0
Fixed-rate debt
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 22,000,000
Fixed-rate debt | 2.7% notes, due April 27, 2020
Debt Instrument [Line Items]
Aggregate principal amount of debt redeemed				400,000,000
Debt interest rate					2.70%			2.70%
Repayment of debt	$ 403,000,000
Loss on extinguishment of debt				$ 2,000,000
Fixed-rate debt | 2.900% notes, due December 15, 2029
Debt Instrument [Line Items]
Debt interest rate		2.90%		2.90%
Debt issued		$ 400,000,000
Debt instrument redemption price percentage		100.00%
Redemption price upon change in control		101.00%
Debt issuance costs		$ 3,000,000
Treasury Rate | Fixed-rate debt | 2.900% notes, due December 15, 2029
Debt Instrument [Line Items]
Interest rate margin		0.20%

DEBT - 2019 Debt Activity (Deta

DEBT - 2019 Debt Activity (Details) $ in Millions	3 Months Ended
	Sep. 28, 2018USD ($)
Variable-rate debt | Floating rate notes, due February 27, 2019
Debt Instrument [Line Items]
Repayment of debt	$ 300

DEBT - 2018 Debt Activity (Deta

DEBT - 2018 Debt Activity (Details) - USD ($)	Jun. 04, 2018	Nov. 06, 2017	Jun. 29, 2018	Dec. 29, 2017	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017	Jun. 22, 2018	Apr. 27, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt					$ 2,000,000	$ 0	$ 24,000,000	$ 0
Total debt			$ 3,740,000,000		6,825,000,000	3,443,000,000	3,740,000,000
Fixed-rate debt
Debt Instrument [Line Items]
Make-whole redemption price of debt redeemed									$ 844,000,000
Loss on extinguishment of debt			22,000,000
Total debt			3,190,000,000		6,575,000,000	3,193,000,000	3,190,000,000
Fixed-rate debt | 4.4% 2020 notes
Debt Instrument [Line Items]
Aggregate principal amount of debt redeemed									$ 400,000,000
Debt interest rate									4.40%
Fixed-rate debt | 5.55% notes, due October 1, 2021
Debt Instrument [Line Items]
Aggregate principal amount of debt redeemed									$ 400,000,000
Debt interest rate									5.55%
Fixed-rate debt | 1.999% 2018 notes
Debt Instrument [Line Items]
Debt interest rate										1.999%
Repayment of debt			500,000,000
Fixed-rate debt | 4.400% notes, due June 15, 2028
Debt Instrument [Line Items]
Debt interest rate	4.40%
Debt issued	$ 850,000,000
Debt issuance costs	$ 8,000,000
Debt instrument redemption price percentage	100.00%
Debt instrument redemption price percentage of principal amount	101.00%
Fixed-rate debt | 4.400% notes, due June 15, 2028 | Treasury Rate
Debt Instrument [Line Items]
Interest rate margin	0.25%
Senior Unsecured Debt
Debt Instrument [Line Items]
Total debt			550,000,000		250,000,000	250,000,000	550,000,000
Senior Unsecured Debt | Term loan, 5-year tranche, due May 29, 2020
Debt Instrument [Line Items]
Repayment of debt				$ 253,000,000			$ 253,000,000
Debt instrument term				5 years			5 years
Total debt			$ 1,300,000,000	$ 1,300,000,000			$ 1,300,000,000
Unamortized debt issuance costs recognized as loss on extinguishment of debt				$ 1,000,000
Senior Unsecured Debt | Term loan, 3-year tranche, due May 29, 2018
Debt Instrument [Line Items]
Debt instrument term			3 years
Extinguishment of debt			$ 36,000,000			305,000,000
Senior Unsecured Debt | Floating rate notes, due April 30, 2020
Debt Instrument [Line Items]
Total debt			$ 250,000,000		$ 250,000,000	$ 250,000,000	$ 250,000,000
Debt issued		$ 250,000,000
Debt issuance costs		$ 2,000,000
Debt instrument redemption price percentage of principal amount		101.00%
Senior Unsecured Debt | Floating rate notes, due April 30, 2020 | LIBOR
Debt Instrument [Line Items]
Interest rate margin		0.48%

DEBT - Debt Issued Prior to 202

DEBT - Debt Issued Prior to 2020 Still Outstanding (Details) - USD ($) $ in Millions	Apr. 27, 2015	Dec. 03, 2010	Jan. 03, 2020	Feb. 01, 2008	Dec. 05, 2007	Feb. 28, 1998	Jan. 31, 1996
Debt Instrument [Line Items]
Notes payable	$ 2,400
Exelis Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100.00%
3.832% notes, due April 27, 2025
Debt Instrument [Line Items]
Notes payable			$ 600
Debt interest rate			3.832%
4.854% notes, due April 27, 2035
Debt Instrument [Line Items]
Notes payable			$ 400
Debt interest rate			4.854%
5.054% notes, due April 27, 2045
Debt Instrument [Line Items]
Notes payable			$ 500
Debt interest rate			5.054%
6.15% notes, due December 15, 2040
Debt Instrument [Line Items]
Notes payable		$ 300
Debt interest rate		6.15%
Debt instrument redemption price percentage		100.00%
Debt instrument redemption price percentage of principal amount		101.00%
Interest rate margin		0.35%
7.0% debentures, due January 15, 2026
Debt Instrument [Line Items]
Notes payable							$ 100
Debt interest rate							7.00%
6.35% debentures, due February 1, 2028
Debt Instrument [Line Items]
Notes payable						$ 150
Debt interest rate						6.35%
Repurchased and retire principal amount of debentures					$ 25
Redemption of debentures			$ 26	$ 99
External Credit Rating, Investment Grade | Exelis Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage of principal amount	101.00%
Treasury Rate | 3.832% notes, due April 27, 2025
Debt Instrument [Line Items]
Interest rate margin	0.30%
Treasury Rate | 4.854% notes, due April 27, 2035
Debt Instrument [Line Items]
Interest rate margin	0.35%
Treasury Rate | 5.054% notes, due April 27, 2045
Debt Instrument [Line Items]
Interest rate margin	0.40%

DEBT - Fair Value of Long-Term

DEBT - Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Carrying Amount
Debt Instrument [Line Items]
Long-term debt (including current portion)	$ 6,951	$ 3,419	$ 3,712
Fair Value | Level 2 | Valuation, Market Approach
Debt Instrument [Line Items]
Long-term debt (including current portion)	$ 7,536	$ 3,802	$ 3,848

DEBT - Short-Term Debt (Details

DEBT - Short-Term Debt (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Debt Disclosure [Abstract]
Short-term debt	$ 3	$ 103	$ 78
Commercial paper		100	75
Interest paid	$ 144	$ 170	$ 175	$ 168

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS - Additional Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jan. 03, 2021	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017	Dec. 31, 2030	Dec. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Matching contributions charged to expense	$ 105,000,000		$ 85,000,000	$ 83,000,000	$ 80,000,000
Fair value of plan assets	8,892,000,000		5,159,000,000	5,305,000,000
Accumulated benefit obligation for all defined benefit pension plans	$ 10,200,000,000
Per capita cost of healthcare assumed for next fiscal year, post-age 65	6.80%
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 4,500,000,000
Projected benefit obligation	$ 5,600,000,000
Cash balance benefit percentage							1.00%
Percentage of total projected benefit obligation (percent)	54.00%
Discount rate	3.10%
Expected return on plan assets	7.75%
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 8,618,000,000		4,958,000,000	5,098,000,000	4,921,000,000
Projected benefit obligation	$ 10,268,000,000		$ 6,123,000,000	$ 5,774,000,000	$ 6,140,000,000
Discount rate	3.14%		3.35%	4.05%
Expected return on plan assets	7.68%		7.66%	7.66%	7.65%
Employer contributions	$ 406,000,000		$ 3,000,000	$ 303,000,000
Pension | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 302,000,000		300,000,000	400,000,000
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage match of the employee contribution	2.00%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage match of the employee contribution	6.00%
Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Ultimate per capita cost of healthcare assumed (percent)						4.70%
Forecast | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets		7.75%
Forecast | Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets		7.68%
Private equity funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plans, future unfunded commitments on NAV equity funds investments	$ 325,000,000		355,000,000	246,000,000
Hedge funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plans, future unfunded commitments on NAV equity funds investments	$ 0		$ 0	$ 0
Minimum redemption notice period permitted on NAV equity funds investments	90 days

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFITS - Fair Value of Deferred Compensation Plans (Details) - Fair Value - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan assets	$ 87	$ 127	$ 136
Fair value of deferred compensation plan liabilities	71	157	149
Equity securities and mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan liabilities	2	25	38
Equity securities and mutual funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan liabilities	2	25	38
Common/collective trusts and guaranteed investment contracts | Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan liabilities	69	132	111
Equity and fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan assets	58	99	109
Equity and fixed income securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan assets	58	99	109
Corporate-owned life insurance | Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of deferred compensation plan assets	$ 29	$ 28	$ 27

PENSION AND OTHER POSTRETIREM_5

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 8,892	$ 5,159	$ 5,305
Pension
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,618	4,958	5,098	$ 4,921
Projected benefit obligation	(10,268)	(6,123)	(5,774)	(6,140)
Funded status	(1,650)	(1,165)	(676)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	274	201	207	212
Projected benefit obligation	(369)	(221)	(233)	$ (265)
Funded status	(95)	(20)	(26)
Other non-current assets | Pension
Consolidated Balance Sheet line item amounts:
Defined benefit plans, current assets	91	12	15
Other non-current assets | Other Benefits
Consolidated Balance Sheet line item amounts:
Defined benefit plans, current assets	1	0	0
Compensation and benefits | Pension
Consolidated Balance Sheet line item amounts:
Defined benefit plan liabilities, current	(10)	(7)	(2)
Compensation and benefits | Other Benefits
Consolidated Balance Sheet line item amounts:
Defined benefit plan liabilities, current	(8)	0	(1)
Liabilities of disposal group held for sale | Pension
Consolidated Balance Sheet line item amounts:
Defined benefit plan liabilities, current	0	(16)	0
Liabilities of disposal group held for sale | Other Benefits
Consolidated Balance Sheet line item amounts:
Defined benefit plan liabilities, current	0	0	0
Defined benefit plans | Pension
Consolidated Balance Sheet line item amounts:
Defined benefit plans liabilities, noncurrent	(1,731)	(1,154)	(689)
Defined benefit plans | Other Benefits
Consolidated Balance Sheet line item amounts:
Defined benefit plans liabilities, noncurrent	$ (88)	$ (20)	$ (25)

PENSION AND OTHER POSTRETIREM_6

PENSION AND OTHER POSTRETIREMENT BENEFITS - Pre-tax Amounts Recorded in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Pension
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ 819	$ 781	$ 156
Net prior service cost (credit)	(282)	6	4
Defined benefit plan, accumulated comprehensive income (loss)	537	787	160
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	(34)	(36)	(46)
Net prior service cost (credit)	(1)	(1)	(1)
Defined benefit plan, accumulated comprehensive income (loss)	$ (35)	$ (37)	$ (47)

PENSION AND OTHER POSTRETIREM_7

PENSION AND OTHER POSTRETIREMENT BENEFITS - Balance Sheet Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Change in plan assets
Plan assets at beginning of fiscal year	$ 5,159	$ 5,305
Plan assets at end of fiscal year	8,892	5,159	$ 5,305
Defined benefit plan with accumulated benefit obligation in excess of plan assets
Projected benefit obligation	9,670	6,041	5,694
Accumulated benefit obligation	9,656	6,041	5,694
Fair value of plan assets	7,931	4,864	5,004
Pension
Change in benefit obligation
Benefit obligation at beginning of fiscal year	6,123	5,774	6,140
Benefit obligation assumed in L3Harris Merger	4,474	0	0
Service cost	42	36	39	$ 58
Interest cost	149	209	195	184
Actuarial loss (gain)	301	514	(169)
Amendments	(292)	3	2
Benefits paid	(342)	(381)	(402)
Settlements	(5)	0	0
Expenses paid	(43)	(30)	(35)
Curtailments	(35)	1	0
Foreign currency exchange rate changes	3	(3)	4
Plan participants' contributions	1	0	0
Divestiture	(108)	0	0
Benefit obligation at end of fiscal year	10,268	6,123	5,774	6,140
Change in plan assets
Plan assets at beginning of fiscal year	4,958	5,098	4,921
Plan assets acquired in L3Harris Merger	3,183	0	0
Actual return on plan assets	548	271	307
Employer contributions	406	3	303
Benefits paid	(342)	(381)	(402)
Settlements	(5)	0	0
Expenses paid	(43)	(30)	(35)
Foreign currency exchange rate changes	4	(3)	4
Plan participants' contributions	1	0	0
Divestiture	(92)	0	0
Plan assets at end of fiscal year	8,618	4,958	5,098	4,921
Funded status	(1,650)	(1,165)	(676)
Other Benefits
Change in benefit obligation
Benefit obligation at beginning of fiscal year	221	233	265
Benefit obligation assumed in L3Harris Merger	156	0	0
Service cost	1	0	1	1
Interest cost	5	8	7	8
Actuarial loss (gain)	7	(1)	(22)
Amendments	0	0	0
Benefits paid	(21)	(19)	(18)
Settlements	0	0	0
Expenses paid	0	0	0
Curtailments	0	0	0
Foreign currency exchange rate changes	0	0	0
Plan participants' contributions	0	0	0
Divestiture	0	0	0
Benefit obligation at end of fiscal year	369	221	233	265
Change in plan assets
Plan assets at beginning of fiscal year	201	207	212
Plan assets acquired in L3Harris Merger	68	0	0
Actual return on plan assets	18	11	14
Employer contributions	8	2	(1)
Benefits paid	(21)	(19)	(18)
Settlements	0	0	0
Expenses paid	0	0	0
Foreign currency exchange rate changes	0	0	0
Plan participants' contributions	0	0	0
Divestiture	0	0	0
Plan assets at end of fiscal year	274	201	207	$ 212
Funded status	$ (95)	$ (20)	$ (26)

PENSION AND OTHER POSTRETIREM_8

PENSION AND OTHER POSTRETIREMENT BENEFITS - Income Statement Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Net periodic benefit income
Effect of curtailments or settlements	$ (23)	$ 0	$ 0	$ 0
Pension
Net periodic benefit income
Service cost	42	36	39	58
Interest cost	149	209	195	184
Expected return on plan assets	(314)	(382)	(369)	(340)
Amortization of net actuarial loss (gain)	1	0	0	1
Amortization of prior service credit	(5)	0	0	0
Effect of curtailments or settlements	(18)	1	0	0
Net periodic benefit income	(145)	(136)	(135)	(97)
Other changes in plan assets and benefit obligations recognized in other comprehensive loss
Net actuarial loss (gain)	55	625	(106)	(284)
Prior service (credit) cost	(292)	3	2	0
Amortization of net actuarial gain (loss)	(5)	0	0	(1)
Amortization of prior service credit (cost)	5	(1)	0	0
Recognized net loss due to divestiture	(13)	0	0	0
Total change recognized in other comprehensive loss	(250)	627	(104)	(285)
Total impact from net periodic benefit cost and changes in other comprehensive loss	(395)	491	(239)	(382)
Pension | U.S. | L3
Net periodic benefit income
Effect of curtailments or settlements	(23)
Other Benefits
Net periodic benefit income
Service cost	1	0	1	1
Interest cost	5	8	7	8
Expected return on plan assets	(10)	(16)	(16)	(17)
Amortization of net actuarial loss (gain)	(3)	(6)	(1)	0
Effect of curtailments or settlements	5
Net periodic benefit income	(7)	(14)	(9)	(8)
Other changes in plan assets and benefit obligations recognized in other comprehensive loss
Net actuarial loss (gain)	(1)	4	(20)	(38)
Amortization of net actuarial gain (loss)	3	6	1	0
Total change recognized in other comprehensive loss	2	10	(19)	(38)
Total impact from net periodic benefit cost and changes in other comprehensive loss	$ (5)	$ (4)	$ (28)	$ (46)

PENSION AND OTHER POSTRETIREM_9

PENSION AND OTHER POSTRETIREMENT BENEFITS - Expected Amortization of Net Define Benefit Costs Included on AOCI During Next Fiscal Year (Details) $ in Millions	Jan. 03, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss	$ 7
Prior service cost	(28)
Expected amortization in next fiscal year	(21)
Pension
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss	10
Prior service cost	(28)
Expected amortization in next fiscal year	(18)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss	(3)
Prior service cost	0
Expected amortization in next fiscal year	$ (3)

PENSION AND OTHER POSTRETIRE_10

PENSION AND OTHER POSTRETIREMENT BENEFITS - Assumptions Used to Determine Projected Benefits and Periodic Costs (Details)	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Obligation assumptions as of:
Rate of future compensation increase	2.80%	2.76%	2.76%
Cost assumptions for fiscal periods ended:
Rate of future compensation increase	2.97%	2.76%	2.76%	2.75%
Other Benefits
Obligation assumptions as of:
Discount rate	2.97%	3.21%	3.99%
Cost assumptions for fiscal periods ended:
Discount rate to determine service cost	3.47%	4.14%	3.62%	3.52%
Discount rate to determine interest cost	2.74%	3.62%	3.04%	2.60%
Pension
Obligation assumptions as of:
Discount rate	3.14%	3.35%	4.05%
Cost assumptions for fiscal periods ended:
Discount rate to determine service cost	3.11%	3.89%	3.48%	3.80%
Discount rate to determine interest cost	2.94%	3.75%	3.28%	2.94%
Expected return on plan assets	7.68%	7.66%	7.66%	7.65%

PENSION AND OTHER POSTRETIRE_11

PENSION AND OTHER POSTRETIREMENT BENEFITS - Strategic Target Asset Allocation (Details)	Jan. 03, 2020
Minimum | Equity investments
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	40.00%
Minimum | Fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	20.00%
Minimum | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	0.00%
Minimum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	0.00%
Maximum | Equity investments
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	60.00%
Maximum | Fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	40.00%
Maximum | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	30.00%
Maximum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target Asset Allocation	10.00%

PENSION AND OTHER POSTRETIRE_12

PENSION AND OTHER POSTRETIREMENT BENEFITS - Reconciliation of Defined Benefit Plan Asset Balances (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 8,892	$ 5,159	$ 5,305
Receivables, net	5	84	(4)
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,514	2,081	2,094
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,453	1,285	1,374
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	19	19	13
Total
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6,986	3,385	3,481
Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,901	1,690	1,828
Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,968	1,173	1,221
Domestic equities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,968	1,173	1,189
Domestic equities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	32
Domestic equities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
International equities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,217	896	903
International equities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,217	896	899
International equities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	4
International equities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Real Estate Investment Trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	211
Real Estate Investment Trusts | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	211
Real Estate Investment Trusts | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Real Estate Investment Trusts | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,176	923	811
Corporate bonds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Corporate bonds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,159	906	800
Corporate bonds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17	17	11
Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	489	332	335
Government securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Government securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	489	332	335
Government securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Securitized Assets
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	131
Securitized Assets | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Securitized Assets | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	131
Securitized Assets | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	101
Fixed income investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	101
Fixed income investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Fixed income investments | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Fixed income investments | Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	323	362	318
Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	2	2
Other | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Other | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Other | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	2	2
Other | Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	691	59	209
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17	12	6
Cash and cash equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	674	47	203
Cash and cash equivalents | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0	0
Equity funds | Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	933	703	714
Private equity funds | Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	302	294	401
Hedge funds | Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 342	$ 331	$ 395

PENSION AND OTHER POSTRETIRE_13

PENSION AND OTHER POSTRETIREMENT BENEFITS - Estimated Future Benefit Payments (Details) $ in Millions	Jan. 03, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
2020	$ 604
2021	607
2022	613
2023	613
2024	608
2025 — 2028	3,013
Pension
Defined Benefit Plan Disclosure [Line Items]
2020	572
2021	576
2022	583
2023	584
2024	581
2025 — 2028	2,896
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
2020	32
2021	31
2022	30
2023	29
2024	27
2025 — 2028	$ 117
Expected future benefit percentage of gross payments, excluding subsidiaries	10.00%

STOCK OPTIONS AND OTHER SHARE_3

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Additional Information (Details) $ / shares in Units, $ in Millions	Jun. 30, 2019USD ($)	Jan. 03, 2020USD ($)plan$ / sharesshares	Jun. 28, 2019USD ($)$ / sharesshares	Jun. 29, 2018USD ($)$ / shares	Jun. 30, 2017USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shareholder-approved employee stock incentive plans | plan		2
Number of shares of counted against available for issuance per each awarded unit (in shares) | shares		4.6
Common stock issued, net of shares withheld for tax purposes (in shares) | shares		2,425,153
Period range of options exercised, maximum		10 years
Percent of options exercisable with in one year from grant date		33.30%
Percent of options exercisable with in two year from grant date		33.30%
Percent of options exercisable with in three year from grant date		33.30%
Weighted-average grant-date fair value of options (in dollars per share) | $ / shares		$ 38.61	$ 30.05	$ 18.60	$ 13.82
Total intrinsic value of options exercised | $		$ 212	$ 75	$ 39	$ 47
Unrecognized compensation expense on options | $		24
Fair value of vested stock options | $	$ 17		$ 14	$ 18	$ 17
Unrecognized compensation cost related to restricted stock and restricted stock unit awards | $		$ 74
Weighted average period of unrecognized compensation cost related to restricted stock and restricted stock unit awards		2 years 1 month 9 days
Granted (in dollars per share) | $ / shares			$ 160.05	$ 141.46	$ 94.60
Fair value of vested restricted stock and restricted stock units | $		$ 75	$ 16	$ 11	$ 14
Plan period considered for performance share and performance share unit awards		3 years
Vesting period for performances share and performance share unit awards		3 years
Unrecognized compensation cost related to performance share and performance share unit awards | $		$ 9
Weighted average period unrecognized compensation cost related to performance share and performance share unit awards		2 years 4 months 28 days
Performance shares and performance share units granted weighted average grant price per share (in dollars per share) | $ / shares			$ 155.12	$ 123.13	$ 84.40
Fair value of vested performance share and performance share units | $		$ 107	$ 21	$ 12	$ 21
2015 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock remaining available for future issuance (in shares) | shares		22,071,494
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition on unrecognized compensation expense on options		2 years 5 months 26 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and restricted stock units outstanding (in shares) | shares		34,869
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and restricted stock units outstanding (in shares) | shares		500,898
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and restricted stock units outstanding (in shares) | shares		535,767	365,998
Granted (in dollars per share) | $ / shares		$ 204.62
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and restricted stock units outstanding (in shares) | shares		55,020	509,749
Performance shares and performance share units granted weighted average grant price per share (in dollars per share) | $ / shares		$ 204.85

STOCK OPTIONS AND OTHER SHARE_4

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Share-based Payment Arrangement, Noncash Expense [Abstract]
Total expense	$ 125	$ 58	$ 51	$ 42
Included In:
Income from continuing operations	125	58	51	42
Tax effect on share-based compensation expense	(31)	(14)	(16)	(16)
Total share-based compensation expense after-tax	94	44	35	26
Cost of product sales and services
Share-based Payment Arrangement, Noncash Expense [Abstract]
Total expense	5	12	8	3
Included In:
Income from continuing operations	5	12	8	3
Engineering, selling and administrative expenses
Share-based Payment Arrangement, Noncash Expense [Abstract]
Total expense	120	46	43	39
Included In:
Income from continuing operations	$ 120	$ 46	$ 43	$ 39

STOCK OPTIONS AND OTHER SHARE_5

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Significant Fair Value Assumptions (Details)	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Share-based Payment Arrangement [Abstract]
Expected dividends	1.70%	1.61%	1.80%	2.36%
Expected volatility	22.18%	19.87%	19.30%	21.78%
Risk-free interest rates	1.68%	2.72%	1.80%	1.23%
Expected term (years)	5 years 7 months 24 days	5 years 10 days	5 years	5 years 10 days

STOCK OPTIONS AND OTHER SHARE_6

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Stock Options Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jan. 03, 2020USD ($)$ / sharesshares
Shares
Stock options outstanding June 28, 2019 (in shares) | shares	4,195,201
Granted (in shares) | shares	738,956
Exercised (in shares) | shares	(1,654,558)
Other - L3Harris Merger (in shares) | shares	1,266,379
Stock options outstanding January 3, 2020 (in shares) | shares	4,545,978
Stock options exercisable January 3, 2020 (in shares) | shares	3,807,022
Weighted Average Exercise Price Per Share
Stock options outstanding June 28, 2019, (in dollars per share) | $ / shares	$ 80.86
Granted (in dollars per share) | $ / shares	204.85
Exercised (in dollars per share) | $ / shares	79.35
Other — L3Harris Merger (in dollars per share) | $ / shares	112.83
Stock options outstanding January 3, 2020, (in dollars per share) | $ / shares	110.48
Stock options exercisable January 3, 2020, weighted average exercise price per share (in dollars per share) | $ / shares	$ 92.16
Stock options outstanding January 3, 2020, weighted average remaining contractual term	6 years 3 months 3 days
Stock options exercisable January 3, 2020, weighted average remaining contractual term	5 years 7 months 9 days
Stock options outstanding January 3, 2020, aggregate intrinsic value | $	$ 454,570
Stock options exercisable January 3, 2020, aggregate intrinsic value | $	$ 450,420

STOCK OPTIONS AND OTHER SHARE_7

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Nonvested Stock Options (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Shares
Nonvested stock options June 28, 2019 (in shares)	856,753
Granted (in shares)	738,956
Vested (in shares)	(856,753)
Nonvested stock options January 3, 2020 (in shares)	738,956	856,753
Weighted-Average Grant-Date Fair Value Per Share
Nonvested stock options June 28, 2019 (in dollars per share)	$ 20.28
Granted (in dollars per share)	38.61	$ 30.05	$ 18.60	$ 13.82
Vested (in dollars per share)	20.28
Nonvested stock options January 3, 2020 (in dollars per share)	$ 38.61	$ 20.28

STOCK OPTIONS AND OTHER SHARE_8

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Restricted Stock and Restricted Stock Unit Awards Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Weighted-Average Grant Price Per Share or Unit
Granted (in dollars per share)		$ 160.05	$ 141.46	$ 94.60
Restricted Stock and Restricted Stock Units
Shares or Units
Outstanding June 28, 2019 (in shares)	365,998
Granted (in shares)	260,167
Vested (in shares)	(503,069)
Forfeited (in shares)	(16,916)
Other — L3Harris Merger (in shares)	429,587
Outstanding January 3, 2020 (in shares)	535,767	365,998
Weighted-Average Grant Price Per Share or Unit
Outstanding June 28, 2019 (in dollars per share)	$ 134.06
Granted (in dollars per share)	204.62
Vested (in dollars per share)	149.39
Forfeited (in dollars per share)	193.20
Other — L3Harris Merger (in dollars per share)	189.13
Outstanding January 3, 2020 (in dollars per share)	$ 196.22	$ 134.06

STOCK OPTIONS AND OTHER SHARE_9

STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION - Performance Shares Unit Awards Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Weighted-Average Grant Price Per Share or Unit
Granted (in dollars per share)		$ 155.12	$ 123.13	$ 84.40
Performance Share Units
Shares or Units
Outstanding June 28, 2019 (in shares)	509,749
Granted (in shares)	55,020
Performance based adjustment (in shares)	326,656
Vested (in shares)	(836,405)
Outstanding January 3, 2020 (in shares)	55,020	509,749
Weighted-Average Grant Price Per Share or Unit
Outstanding June 28, 2019 (in dollars per share)	$ 126.73
Granted (in dollars per share)	204.85
Performance based adjustment (in dollars per share)	129.84
Vested (in dollars per share)	127.94
Outstanding January 3, 2020 (in dollars per share)	$ 204.85	$ 126.73

INCOME FROM CONTINUING OPERAT_3

INCOME FROM CONTINUING OPERATIONS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Income from continuing operations	$ 823		$ 953	$ 702	$ 628
Adjustments for participating securities outstanding	0		(2)	(2)	(1)
Income from continuing operations used in per basic and diluted common share calculations (A)	$ 823		$ 951	$ 700	$ 627
Basic weighted average common shares outstanding (B) (in shares)	221,200,000	117,800,000	118,000,000	118,600,000	122,600,000
Impact of dilutive share-based awards (in shares)	2,500,000		2,500,000	2,500,000	1,700,000
Diluted weighted average common shares outstanding (C) (in shares)	223,700,000	120,300,000	120,500,000	121,100,000	124,300,000
Income from continuing operations per basic common share (A)/(B) (in dollars per share)	$ 3.72	$ 3.74	$ 8.06	$ 5.90	$ 5.11
Income from continuing operations per diluted common share (A)/(C) (in dollars per share)	$ 3.68	$ 3.66	$ 7.89	$ 5.78	$ 5.04
Weighted average anti-dilutive employee stock options outstanding (in shares)	604,969		271,892	48,590	421,507

RESEARCH AND DEVELOPMENT (Detai

RESEARCH AND DEVELOPMENT (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Research and Development [Abstract]
R&D costs	$ 329	$ 331	$ 311	$ 310

LEASE COMMITMENTS - Additional

LEASE COMMITMENTS - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 88
Additional operating lease commitments not yet commenced	$ 280
Rent expense		$ 73	$ 61	$ 65
Minimum
Lessee, Lease, Description [Line Items]
Term of contract for lease commitments not yet commenced	15 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract for lease commitments not yet commenced	25 years

LEASE COMMITMENTS - Supplementa

LEASE COMMITMENTS - Supplemental Balance Sheet Information (Details) $ in Millions	Jan. 03, 2020USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 837
Other accrued items	129
Operating lease liabilities	781
Total operating lease liabilities	$ 910

LEASE COMMITMENTS - Supplemen_2

LEASE COMMITMENTS - Supplemental Cash Flow Information (Details) $ in Millions	6 Months Ended
	Jan. 03, 2020USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 91
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 17
Weighted average remaining lease term — operating leases (in years)	9 years 4 months 24 days
Weighted average discount rate — operating leases	3.10%

LEASE COMMITMENTS - Future Leas

LEASE COMMITMENTS - Future Lease Payments Under Non-cancelable Leases (Details) $ in Millions	Jan. 03, 2020USD ($)
Leases [Abstract]
2020	$ 162
2021	134
2022	123
2023	103
2024	86
Thereafter	450
Total future lease payments required	1,058
Less: imputed interest	148
Total	$ 910

LEASE COMMITMENTS - Future Mini

LEASE COMMITMENTS - Future Minimum Lease Payments for Operating Leases Under ASC 840 (Details) $ in Millions	Jun. 28, 2019USD ($)
Leases [Abstract]
June 29, 2019 to July 3, 2020	$ 68
July 4, 2020 to July 2, 2021	62
July 3, 2021 to July 1, 2022	47
July 2, 2022 to June 30, 2023	40
July 1, 2023 to June 28, 2024	32
Thereafter	64
Total minimum lease payments required	$ 313

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details)	6 Months Ended	12 Months Ended
	Jan. 03, 2020USD ($)	Jun. 28, 2019USD ($)	Jun. 29, 2018USD ($)	Jun. 30, 2017USD ($)	Nov. 27, 2019USD ($)	Sep. 27, 2019contract	Jan. 31, 2019USD ($)
Derivative [Line Items]
Amounts recognized in earnings related to hedging firm commitments no longer qualified as fair value hedges	$ 0	$ 0	$ 0	$ 0
Long-term debt	6,825,000,000	3,443,000,000	3,740,000,000
Accumulated other comprehensive loss	508,000,000	707,000,000	202,000,000
2.7% notes, due April 27, 2020 | Treasury Rate
Derivative [Line Items]
Debt interest rate							2.70%
Aggregate principal amount of debt redeemed					$ 400,000,000
4.95% notes, due February 15, 2021 | Treasury Rate
Derivative [Line Items]
Long-term debt							$ 650,000,000
Debt interest rate							4.95%
Fixed-rate debt
Derivative [Line Items]
Long-term debt	6,575,000,000	3,193,000,000	3,190,000,000
Treasury locks
Derivative [Line Items]
Accumulated other comprehensive loss	24,000,000
Fair Value Hedging | Foreign currency forward contracts
Derivative [Line Items]
Derivative notional amount	0
Fair Value Hedging | Treasury locks
Derivative [Line Items]
Fair value of derivative liability		26,000,000
Cash Flow Hedges | Foreign currency forward contracts
Derivative [Line Items]
Derivative notional amount	511,000,000
Pre-tax loss from cash flow hedges recognized in other comprehensive income	3,000,000
Estimated amount of existing losses to be reclassified into earnings within the next 12 months	2,000,000
Cash Flow Hedges | Treasury locks
Derivative [Line Items]
Derivative notional amount	650,000,000
Accumulated other comprehensive loss	16,000,000	20,000,000
Cash Flow Hedges | Treasury locks | L3Harris
Derivative [Line Items]
Number of open derivative contracts | contract						2
Fair value of derivative liability	35,000,000
Level 2 | Cash Flow Hedges | Treasury locks
Derivative [Line Items]
Fair value of derivative liability	56,000,000
2.900% notes, due December 15, 2029 | Fixed-rate debt
Derivative [Line Items]
Long-term debt	$ 400,000,000	$ 0	$ 0
Debt interest rate	2.90%				2.90%

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheet (Details) $ in Millions	Jan. 03, 2020USD ($)
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	$ 8
Other non-current assets
Derivatives, Fair Value [Line Items]
Derivative asset	2
Other accrued items
Derivatives, Fair Value [Line Items]
Derivative liability	6
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	$ 2

NON-OPERATING INCOME (Details)

NON-OPERATING INCOME (Details) - USD ($) $ in Millions	Dec. 16, 2019	Jun. 29, 2018	Dec. 29, 2017	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017	Jun. 22, 2018	Apr. 27, 2015
Nonoperating Income (Expense) [Abstract]
Pension adjustment				$ 172		$ 186	$ 184	$ 164
Gain on pension plan curtailment				23		0	0	0
Loss on extinguishment of debt				(2)		0	(24)	0
Adjustment to gain on sale of business				0		0	0	2
Other				(1)		2	(4)	0
Total non-operating income				192	$ 94	188	156	$ 166
Debt Instrument [Line Items]
Notes payable										$ 2,400
Total debt		$ 3,740		6,825		3,443	3,740
Floating-rate notes
Nonoperating Income (Expense) [Abstract]
Loss on extinguishment of debt		(22)
Debt Instrument [Line Items]
Total debt		3,190		6,575		$ 3,193	3,190
Floating-rate notes | 2.7% notes, due April 27, 2020
Nonoperating Income (Expense) [Abstract]
Loss on extinguishment of debt				(2)
Debt Instrument [Line Items]
Aggregate principal amount of debt redeemed				400
Debt interest rate					2.70%	2.70%
Repayment of debt	$ 403
Total debt		400		0		$ 400	400
Floating-rate notes | 4.4% 2020 notes
Debt Instrument [Line Items]
Aggregate principal amount of debt redeemed									$ 400
Debt interest rate									4.40%
Notes payable		800					800
Variable-rate debt
Debt Instrument [Line Items]
Total debt		550		$ 250		$ 250	550
Variable-rate debt | Term loan, 5-year tranche, due May 29, 2020
Debt Instrument [Line Items]
Repayment of debt			$ 253				$ 253
Term of senior unsecured revolving credit agreement			5 years				5 years
Total debt		$ 1,300	$ 1,300				$ 1,300

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCI") (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jan. 01, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,363	$ 3,278	$ 2,903
Amounts reclassified to earnings from AOCI, net of tax	13
Ending balance	22,744	3,363	3,278
Foreign currency translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(106)	(99)	(113)
Other comprehensive income	25	(7)	13
Income taxes	0	0	2
Other comprehensive income, net of tax	25	(7)	15
Reclassifications to retained earnings due to adoption of accounting standards update				$ (1)
Amounts reclassified to earnings from AOCI(1)	0
Income taxes	0
Amounts reclassified to earnings from AOCI, net of tax	0
Ending balance	(81)	(106)	(99)
Net unrealized (losses) gains on hedging derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(38)	(20)	(17)
Other comprehensive income	(23)	(24)	1
Income taxes	6	6	0
Other comprehensive income, net of tax	(17)	(18)	1
Reclassifications to retained earnings due to adoption of accounting standards update				(4)
Amounts reclassified to earnings from AOCI(1)	0
Income taxes	0
Amounts reclassified to earnings from AOCI, net of tax	0
Ending balance	(55)	(38)	(20)
Unrecognized postretirement obligations
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(563)	(83)	(146)
Other comprehensive income	231	(638)	122
Income taxes	(53)	158	(29)
Other comprehensive income, net of tax	178	(480)	93
Reclassifications to retained earnings due to adoption of accounting standards update				(30)
Amounts reclassified to earnings from AOCI(1)	18
Income taxes	(5)
Amounts reclassified to earnings from AOCI, net of tax	13
Ending balance	(372)	(563)	(83)
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(707)	(202)	(276)
Other comprehensive income	233	(669)	136
Income taxes	(47)	164	(27)
Other comprehensive income, net of tax	186	(505)	109
Reclassifications to retained earnings due to adoption of accounting standards update				$ (35)
Amounts reclassified to earnings from AOCI(1)	18
Income taxes	(5)
Amounts reclassified to earnings from AOCI, net of tax	13
Ending balance	$ (508)	$ (707)	$ (202)

INCOME TAXES - Provision for Cu

INCOME TAXES - Provision for Current and Deferred Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Current:
United States	$ 11		$ 105	$ (141)	$ 117
International	37		9	12	9
State and local	16		8	(11)	6
Current income taxes	64		122	(140)	132
Deferred:
United States	33		15	324	121
International	(15)		(3)	(3)	1
State and local	(9)		26	25	7
Deferred income taxes	9		38	346	129
Income Tax Expense (Benefit)	$ 73	$ 87	$ 160	$ 206	$ 261

INCOME TAXES - Total Income Tax

INCOME TAXES - Total Income Tax Provision (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Continuing operations	$ 73	$ 87	$ 160	$ 206	$ 261
Discontinued operations	0		(1)	(5)	(110)
Total income tax provision	$ 73		$ 159	$ 201	$ 151

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax Rates (Details)	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
U.S. statutory income tax rate	21.00%	21.00%	28.10%	35.00%
State taxes	1.40%	2.40%	1.90%	1.00%
International income	0.90%	(0.50%)	(0.50%)	(1.30%)
Research and development tax credit	(4.70%)	(4.50%)	(2.90%)	(2.00%)
Foreign derived intangibles income deduction	(0.80%)	(1.30%)	0.00%	0.00%
Change in valuation allowance	(4.80%)	(1.80%)	0.20%	(0.20%)
U.S. production activity benefit	0.00%	0.00%	(0.90%)	(0.50%)
Equity-based compensation	(5.40%)	(2.10%)	(1.80%)	(2.60%)
Settlement of tax audits	0.00%	0.00%	(2.20%)	0.00%
U.S. tax reform	0.00%	0.00%	0.40%	0.00%
Other items	0.40%	1.20%	0.40%	(0.10%)
Effective income tax rate	8.00%	14.40%	22.70%	29.30%

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017	Jul. 01, 2016
Income Tax Contingency [Line Items]
Outside basis difference in foreign subsidiaries that are considered indefinitely reinvested t	$ 4,000
U.S. statutory corporate income tax rate	21.00%	21.00%	28.10%	35.00%
Provisional income tax benefit from the impact of lower corporate tax rates in estimated annual rate for fiscal year			$ 26
Provisional income tax benefit from the impact of lower corporate tax rates in estimated annual rate for fiscal yea per diluted share (in dollars per share)			$ 0.21
Expense recognized due to revaluation of deferred income tax balances			$ 8
Tax loss and credit carryforwards, expiration dates, minimum	1 year
Income from continuing operation before income taxes of international subsidiaries	$ 96	$ 37	43	$ 42
Income taxes paid, net of (refunds)	(8)	137	(8)	51
Unrecognized tax benefits	438	204	102	$ 90	$ 63
Unrecognized tax benefits that would favorably impact future tax rates	313	162	92
Accrued interest and penalties related to unrecognized tax benefits	31	$ 3	$ 4
Federal
Income Tax Contingency [Line Items]
Operating loss carryforwards	8
Tax credit carryforwards	6
International
Income Tax Contingency [Line Items]
Operating loss carryforwards	46
Tax credit carryforwards	14
State and Local
Income Tax Contingency [Line Items]
Operating loss carryforwards	28
Tax credit carryforwards	78
Capital Loss Carryforward | Federal
Income Tax Contingency [Line Items]
Tax credit carryforwards	24
Capital Loss Carryforward | State and Local
Income Tax Contingency [Line Items]
Tax credit carryforwards	$ 21

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Deferred tax assets:
Accruals	$ 240	$ 152	$ 178
Tax loss and credit carryforwards	177	92	119
Share-based compensation	27	28	26
Capital loss carryforwards	44	95	101
Pension and other post-employment benefits	431	305	188
Operating lease obligation	213
Other	238	75	64
Valuation allowance	(185)	(159)	(181)
Deferred tax assets, net	1,185	588	495
Deferred tax liabilities:
Property, plant and equipment	(159)	(71)	(65)
Unbilled receivables	(51)	(65)	(86)
Acquired intangibles	(2,037)	(260)	(268)
Operating lease right-of-use asset	(196)
Other	(121)	(31)	(36)
Deferred tax liabilities	(2,564)	(427)	(455)
Deferred tax liabilities	$ (1,379)
Net deferred tax assets (liabilities)		$ 161	$ 40

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets, Net of Valuation Allowance (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Income Tax Disclosure [Abstract]
Non-current deferred income tax assets	$ 102	$ 173	$ 119
Non-current deferred income tax liabilities	(1,481)	(12)	(79)
Deferred tax liabilities	$ (1,379)
Net deferred tax assets (liabilities)		$ 161	$ 40

INCOME TAXES - Reconciliation_2

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 204	$ 102	$ 90	$ 63
Additions based on tax positions taken during current period	35	31	17	52
Additions based on tax positions taken during prior periods	0	80	23	0
Additions for tax positions related to acquired entities	226	0	0	0
Decreases based on tax positions taken during prior periods	(7)	(9)	(28)	(25)
Decreases from lapse in statutes of limitations	(20)	0	0	0
Balance at end of period	$ 438	$ 204	$ 102	$ 90

BACKLOG (Details)

BACKLOG (Details) - USD ($) $ in Billions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019
Revenue from Contract with Customer [Abstract]
Backlog	$ 20.6	$ 8.3
Revenue performance obligation period	P3Y	P3Y
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-06-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period		12 months
Remaining performance obligation percentage		50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	12 months
Remaining performance obligation percentage	60.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period		2 years
Remaining performance obligation percentage		50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	2 years
Remaining performance obligation percentage	40.00%

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 27, 2019segment	Jan. 03, 2020USD ($)segment	Jun. 28, 2019USD ($)	Jun. 29, 2018USD ($)	Jun. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment		4
Number of operating segments | segment	4
Amortization of intangible assets, debt premium, debt discount and debt issuance costs | $		$ 285	$ 120	$ 116	$ 125
Geographic Concentration Risk | Total Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage		5.00%	5.00%	5.00%	5.00%
Government Contracts Concentration Risk | Total Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage		73.00%	77.00%	75.00%	74.00%
Product Concentration Risk | Total Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage		21.00%	22.00%	23.00%	25.00%
Export revenue | $		$ 2,000	$ 1,500	$ 1,400	$ 1,500
Product Concentration Risk | Sales revenue service | Integrated Mission Systems
Segment Reporting Information [Line Items]
Concentration risk percentage		32.00%
Product Concentration Risk | Sales revenue service | Space and Airborne Systems
Segment Reporting Information [Line Items]
Concentration risk percentage		16.00%
Product Concentration Risk | Sales revenue service | Communication Systems
Segment Reporting Information [Line Items]
Concentration risk percentage		15.00%
Product Concentration Risk | Sales revenue service | Aviation Systems
Segment Reporting Information [Line Items]
Concentration risk percentage		39.00%

BUSINESS SEGMENTS - Revenues an

BUSINESS SEGMENTS - Revenues and Income From Continuing Operations by Segment (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Revenue	$ 9,263	$ 3,208	$ 6,801	$ 6,168	$ 5,897
Income From Continuing Operations Before Income Taxes
Amortization of acquisition-related intangibles	(290)		(115)	(117)	(126)
Gain on sale of business	229	0	0	0	(14)
Non-operating income	192	94	188	156	166
Income from continuing operations before income taxes	908	528	1,113	908	889
L3Harris
Segment Reporting Information [Line Items]
Revenue		$ 3,208
Income From Continuing Operations Before Income Taxes
Additional cost of sales related to fair value step-up in inventory sold	(142)
Acquisition integration costs	(72)
Integrated Mission Systems
Segment Reporting Information [Line Items]
Revenue	2,774		48	45	38
Communication Systems
Segment Reporting Information [Line Items]
Revenue	2,151		2,208	2,015	1,891
Aviation Systems
Segment Reporting Information [Line Items]
Revenue	2,038		672	668	697
Other non-reportable business segments
Segment Reporting Information [Line Items]
Revenue	23		165	148	121
Operating segments | Integrated Mission Systems
Segment Reporting Information [Line Items]
Revenue	2,774		48	45	38
Income From Continuing Operations Before Income Taxes
Net EAC adjustments, before income taxes	377		9	7	7
Operating segments | Space and Airborne Systems
Segment Reporting Information [Line Items]
Revenue	2,360		3,715	3,304	3,156
Income From Continuing Operations Before Income Taxes
Net EAC adjustments, before income taxes	442		697	628	559
Operating segments | Communication Systems
Segment Reporting Information [Line Items]
Revenue	2,151		2,208	2,015	1,891
Income From Continuing Operations Before Income Taxes
Net EAC adjustments, before income taxes	493		637	561	522
Operating segments | Aviation Systems
Segment Reporting Information [Line Items]
Revenue	2,038		672	668	697
Income From Continuing Operations Before Income Taxes
Net EAC adjustments, before income taxes	289		76	54	131
Operating segments | Other non-reportable business segments
Income From Continuing Operations Before Income Taxes
Net EAC adjustments, before income taxes	0		27	20	9
Corporate eliminations
Segment Reporting Information [Line Items]
Revenue	(83)		(7)	(12)	(6)
Unallocated corporate expense and corporate eliminations
Income From Continuing Operations Before Income Taxes
Net EAC adjustments, before income taxes	(140)		(2)	(65)	(62)
Compensation expense				(12)
Unallocated corporate expense and corporate eliminations | Exelis
Income From Continuing Operations Before Income Taxes
Acquisition integration costs				(5)	(58)
Unallocated corporate expense and corporate eliminations | Commercial Line Business | Business Exit
Income From Continuing Operations Before Income Taxes
Business exit costs				(47)
Segment Reconciling Items
Income From Continuing Operations Before Income Taxes
L3Harris Merger-related transaction and integration expenses and losses	(390)		(65)	0	0
Amortization of acquisition-related intangibles	(289)		(101)	(101)	(109)
Gain on sale of business	229		0	0	0
Pension adjustment	(172)		(186)	(184)	(164)
Non-operating income	192		188	156	166
Net interest expense	(123)		(167)	(168)	(170)
Gain on sale of product line	12
Segment Reconciling Items | Restatement Adjustment
Income From Continuing Operations Before Income Taxes
Operating lease expense	(10)
Segment Reconciling Items | L3Harris
Income From Continuing Operations Before Income Taxes
Amortization of acquisition-related intangibles	(239)
Additional cost of sales related to fair value step-up in inventory sold	(142)
Segment Reconciling Items | Exelis
Income From Continuing Operations Before Income Taxes
Amortization of acquisition-related intangibles	$ (50)		$ (101)	$ (101)	$ (109)

BUSINESS SEGMENTS - Disaggregat

BUSINESS SEGMENTS - Disaggregation of Revenue (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 9,263	$ 3,208	$ 6,801	$ 6,168	$ 5,897
United States
Disaggregation of Revenue [Line Items]
Revenue	8,485		6,530	5,854	5,637
International
Disaggregation of Revenue [Line Items]
Revenue	778		271	314	260
Integrated Mission Systems
Disaggregation of Revenue [Line Items]
Revenue	2,774		48	45	38
Integrated Mission Systems | United States
Disaggregation of Revenue [Line Items]
Revenue	2,300		30	39	27
Integrated Mission Systems | International
Disaggregation of Revenue [Line Items]
Revenue	474		18	6	11
Integrated Mission Systems | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	2,138		48	45	37
Integrated Mission Systems | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	636		0	0	1
Integrated Mission Systems | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	1,904		25	20	24
Integrated Mission Systems | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	870		23	25	14
Communication Systems
Disaggregation of Revenue [Line Items]
Revenue	2,151		2,208	2,015	1,891
Communication Systems | United States
Disaggregation of Revenue [Line Items]
Revenue	1,518		1,281	1,031	880
Communication Systems | International
Disaggregation of Revenue [Line Items]
Revenue	633		927	984	1,011
Communication Systems | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	1,849
Communication Systems | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	302
Communication Systems | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	1,406
Communication Systems | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	745
Aviation Systems
Disaggregation of Revenue [Line Items]
Revenue	2,038		672	668	697
Aviation Systems | United States
Disaggregation of Revenue [Line Items]
Revenue	1,514		644	627	647
Aviation Systems | International
Disaggregation of Revenue [Line Items]
Revenue	524		28	41	50
Aviation Systems | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	1,688		587	582	636
Aviation Systems | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	350		85	86	61
Aviation Systems | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	1,246		654	656	697
Aviation Systems | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	792		18	12	0
Transferred over Time | Space and Airborne Systems
Disaggregation of Revenue [Line Items]
Revenue	2,360		3,715	3,304	3,156
Transferred over Time | Space and Airborne Systems | United States
Disaggregation of Revenue [Line Items]
Revenue	2,037		3,255	2,937	2,782
Transferred over Time | Space and Airborne Systems | International
Disaggregation of Revenue [Line Items]
Revenue	323		460	367	374
Transferred over Time | Space and Airborne Systems | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	1,367		2,097	1,634	1,390
Transferred over Time | Space and Airborne Systems | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	993		1,618	1,670	1,766
Transferred over Time | Space and Airborne Systems | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	1,337		2,246	2,159	2,067
Transferred over Time | Space and Airborne Systems | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	$ 1,023		$ 1,469	$ 1,145	$ 1,089

BUSINESS SEGMENTS - Total Asset

BUSINESS SEGMENTS - Total Assets by Segment (Details) - USD ($) $ in Millions	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018
Segment Reporting Information [Line Items]
Assets	$ 38,336	$ 10,117	$ 9,851
Other intangible assets	8,458	870	989
Corporate eliminations
Segment Reporting Information [Line Items]
Assets	10,112	2,284	2,038
Integrated Mission Systems
Segment Reporting Information [Line Items]
Assets	7,896	87	90
Communication Systems
Segment Reporting Information [Line Items]
Assets	5,930	1,683	1,724
Space and Airborne Systems
Segment Reporting Information [Line Items]
Assets	6,829	5,027	4,953
Aviation Systems
Segment Reporting Information [Line Items]
Assets	7,569	1,036	1,046
Exelis | Corporate eliminations
Segment Reporting Information [Line Items]
Other intangible assets	$ 8,500	$ 869	$ 974

BUSINESS SEGMENTS - Geographic

BUSINESS SEGMENTS - Geographic Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Capital Expenditures	$ 173		$ 161	$ 136	$ 119
Depreciation and Amortization	442		258	259	311
Revenue	9,263	$ 3,208	6,801	6,168	5,897
U.S. operations
Segment Reporting Information [Line Items]
Revenue	8,485		6,530	5,854	5,637
Long-lived assets	1,865		866	892	896
International Operations
Segment Reporting Information [Line Items]
Revenue	778		271	314	260
Long-lived assets	252		28	8	8
Discontinued Operations
Segment Reporting Information [Line Items]
Capital Expenditures	0		0	0	4
Depreciation and Amortization	0		0	0	39
Integrated Mission Systems
Segment Reporting Information [Line Items]
Revenue	2,774		48	45	38
Integrated Mission Systems | U.S. operations
Segment Reporting Information [Line Items]
Revenue	2,300		30	39	27
Integrated Mission Systems | International Operations
Segment Reporting Information [Line Items]
Revenue	474		18	6	11
Communication Systems
Segment Reporting Information [Line Items]
Revenue	2,151		2,208	2,015	1,891
Communication Systems | U.S. operations
Segment Reporting Information [Line Items]
Revenue	1,518		1,281	1,031	880
Communication Systems | International Operations
Segment Reporting Information [Line Items]
Revenue	633		927	984	1,011
Aviation Systems
Segment Reporting Information [Line Items]
Revenue	2,038		672	668	697
Aviation Systems | U.S. operations
Segment Reporting Information [Line Items]
Revenue	1,514		644	627	647
Aviation Systems | International Operations
Segment Reporting Information [Line Items]
Revenue	524		28	41	50
Other non-reportable business segments
Segment Reporting Information [Line Items]
Revenue	23		165	148	121
Operating segments | Integrated Mission Systems
Segment Reporting Information [Line Items]
Revenue	2,774		48	45	38
Operating segments | Integrated Mission Systems | Continuing Operations
Segment Reporting Information [Line Items]
Capital Expenditures	29		1	1	0
Depreciation and Amortization	37		2	2	2
Operating segments | Space and Airborne Systems
Segment Reporting Information [Line Items]
Revenue	2,360		3,715	3,304	3,156
Operating segments | Space and Airborne Systems | Continuing Operations
Segment Reporting Information [Line Items]
Capital Expenditures	36		48	49	49
Depreciation and Amortization	31		50	54	55
Operating segments | Communication Systems
Segment Reporting Information [Line Items]
Revenue	2,151		2,208	2,015	1,891
Operating segments | Communication Systems | Continuing Operations
Segment Reporting Information [Line Items]
Capital Expenditures	22		29	25	16
Depreciation and Amortization	32		49	54	60
Operating segments | Aviation Systems
Segment Reporting Information [Line Items]
Revenue	2,038		672	668	697
Operating segments | Aviation Systems | Continuing Operations
Segment Reporting Information [Line Items]
Capital Expenditures	64		54	37	22
Depreciation and Amortization	53		29	22	5
Operating segments | Other non-reportable business segments | Continuing Operations
Segment Reporting Information [Line Items]
Capital Expenditures	0		6	4	1
Depreciation and Amortization	0		3	5	8
Corporate eliminations
Segment Reporting Information [Line Items]
Revenue	(83)		(7)	(12)	(6)
Corporate eliminations | Continuing Operations
Segment Reporting Information [Line Items]
Capital Expenditures	22		23	20	27
Depreciation and Amortization	$ 289		$ 125	$ 122	$ 142

LEGAL PROCEEDINGS AND CONTING_2

LEGAL PROCEEDINGS AND CONTINGENCIES (Details) $ in Millions	Mar. 31, 2016party	Sep. 30, 2019USD ($)	Jan. 03, 2020USD ($)
Exelis | Passaic River Alaska
Loss Contingencies [Line Items]
Number of potentially responsible parties notified (over 100) | party	100
Estimated cost for all participating parties of EPA's preferred alternative			$ 1,380
U.S. Export Control Violations | Settled Litigation
Loss Contingencies [Line Items]
Civil penalty amount		$ 13
Civil penalty payment period		3 years
Civil penalty suspended amount conditioned to remedial compliance		$ 7

TRANSITION PERIOD COMPARATIVE_3

TRANSITION PERIOD COMPARATIVE DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended		12 Months Ended
	Jan. 03, 2020	Dec. 28, 2018	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017
Condensed Financial Information Disclosure [Abstract]
Revenue from product sales and services	$ 9,263	$ 3,208	$ 6,801	$ 6,168	$ 5,897
Cost of product sales and services	(6,726)	(2,105)	(4,467)	(4,066)	(3,854)
Engineering, selling and administrative expenses	(1,927)	(583)	(1,242)	(1,182)	(1,150)
Gain on sale of business	229	0	0	0	(14)
Non-operating income	192	94	188	156	166
Interest income	12	1	2	2	2
Interest expense	(135)	(87)	(169)	(170)	(172)
Income from continuing operations before income taxes	908	528	1,113	908	889
Income taxes	(73)	(87)	(160)	(206)	(261)
Income from continuing operations	835	441	953	702	628
Discontinued operations, net of income taxes	(1)	(3)	(4)	(3)	(85)
Net income	834	438	949	699	543
Noncontrolling interests, net of income taxes	(12)	0	0	0	0
Net income attributable to L3Harris Technologies, Inc.	$ 822	$ 438	$ 949	$ 699	$ 543
Basic
Continuing operations (in dollars per share)	$ 3.72	$ 3.74	$ 8.06	$ 5.90	$ 5.11
Discontinued operations (in dollars per share)	0	(0.03)	(0.03)	(0.02)	(0.69)
Total basic net income per common share (in dollars per share)	3.72	3.71	8.03	5.88	4.42
Diluted
Continuing operations (in dollars per share)	3.68	3.66	7.89	5.78	5.04
Discontinued operations (in dollars per share)	(0.01)	(0.02)	(0.03)	(0.02)	(0.68)
Diluted (in dollars per share)	$ 3.67	$ 3.64	$ 7.86	$ 5.76	$ 4.36
Basic weighted average common shares outstanding (in shares)	221.2	117.8	118	118.6	122.6
Diluted weighted average common shares outstanding (in shares)	223.7	120.3	120.5	121.1	124.3

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jan. 03, 2020	Jun. 28, 2019	Jun. 29, 2018	Jun. 30, 2017	Feb. 04, 2020
Business Acquisition [Line Items]
Revenue from product sales and services	$ 0	$ 0	$ 0	$ 1,039
Airport Security and Automation Business
Business Acquisition [Line Items]
Revenue from product sales and services		$ 500
Forecast | Subsequent Event | Airport Security and Automation Business
Business Acquisition [Line Items]
Cash price on sale of business					$ 1,000

Uncategorized Items - lhx132020

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (15,000,000)
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (15,000,000)