L3Harris (LHX) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 02, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 2, 2021
Document Transition Report	false
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
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	LHX
Security Exchange Name	NYSE
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 Common Stock, Shares Outstanding		200,943,675
Entity Central Index Key	0000202058
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Income Statement [Abstract]
Revenue from product sales and services	$ 4,668	$ 4,445	$ 9,235	$ 9,071
Cost of product sales and services	(3,251)	(3,175)	(6,464)	(6,473)
Engineering, selling and administrative expenses	(891)	(855)	(1,692)	(1,667)
Business divestiture-related gains (losses)	180	(49)	165	(52)
Impairment of goodwill and other assets	(145)	(70)	(207)	(394)
Non-operating income	86	105	203	200
Interest expense, net	(65)	(65)	(131)	(128)
Income from continuing operations before income taxes	582	336	1,109	557
Income taxes	(169)	(58)	(229)	(84)
Income from continuing operations	413	278	880	473
Discontinued operations, net of income taxes	0	0	(1)	(1)
Net income	413	278	879	472
Noncontrolling interests, net of income taxes	0	5	2	28
Net income attributable to L3Harris Technologies, Inc.	413	283	881	500
Amounts attributable to L3Harris Technologies, Inc. common shareholders
Income from continuing operations	413	283	882	501
Discontinued operations, net of income taxes	$ 0	$ 0	$ (1)	$ (1)
Basic
Continuing operations (in dollars per share)	$ 2.03	$ 1.31	$ 4.29	$ 2.31
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Basic (in dollars per share)	2.03	1.31	4.29	2.30
Diluted
Continuing operations (in dollars per share)	2.01	1.30	4.26	2.29
Discontinued operations (in dollars per share)	0	0	(0.01)	(0.01)
Diluted (in dollars per share)	$ 2.01	$ 1.30	$ 4.25	$ 2.28
Basic weighted average common shares outstanding (in shares)	203.6	215.9	205.2	216.7
Diluted weighted average common shares outstanding (in shares)	205.6	217.8	207.1	218.7

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 413	$ 278	$ 879	$ 472
Other comprehensive income (loss):
Foreign currency translation gain (loss), net of income taxes	15	7	(3)	(60)
Net unrealized gain (loss) on hedging derivatives, net of income taxes	2	13	7	(60)
Net unrecognized (loss) gain on postretirement obligations, net of income taxes	(2)	1	(2)	0
Other comprehensive income (loss) recognized during the period	15	21	2	(120)
Reclassification adjustments for losses included in net income	4	6	2	4
Other comprehensive income (loss), net of income taxes	19	27	4	(116)
Total comprehensive income	432	305	883	356
Comprehensive loss attributable to noncontrolling interests	0	5	2	28
Total comprehensive income attributable to L3Harris Technologies, Inc.	$ 432	$ 310	$ 885	$ 384

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Current Assets
Cash and cash equivalents	$ 2,029	$ 1,276
Receivables, net	1,197	1,344
Contract assets	2,648	2,437
Inventories	872	973
Inventory prepayments	66	61
Income taxes receivable	49	295
Other current assets	249	246
Assets of disposal groups held for sale	479	35
Total current assets	7,589	6,667
Non-current Assets
Property, plant and equipment, net	2,026	2,102
Operating lease right-of-use assets	669	766
Goodwill	18,234	18,876
Other intangible assets, net	6,958	7,908
Deferred income taxes	111	119
Other non-current assets	477	522
Total non-current assets	28,475	30,293
Total assets	36,064	36,960
Current Liabilities
Short-term debt	3	2
Accounts payable	1,406	1,406
Contract liabilities	1,205	1,198
Compensation and benefits	404	496
Other accrued items	1,044	1,066
Income taxes payable	148	49
Current portion of long-term debt, net	11	10
Liabilities of disposal groups held for sale	243	13
Total current liabilities	4,464	4,240
Non-current Liabilities
Defined benefit plans	1,714	1,906
Operating lease liabilities	672	734
Long-term debt, net	7,061	6,943
Deferred income taxes	1,081	1,237
Other long-term liabilities	1,096	1,059
Total non-current liabilities	11,624	11,879
Shareholders’ Equity:
Preferred stock, without par value; 1,000,000 shares authorized; none issued	0	0
Common stock, $1.00 par value; 500,000,000 shares authorized; issued and outstanding 201,643,891 and 208,230,353 shares at July 2, 2021 and January 1, 2021, respectively	202	208
Other capital	17,863	19,008
Retained earnings	2,633	2,347
Accumulated other comprehensive loss	(835)	(839)
Total shareholders’ equity	19,863	20,724
Noncontrolling interests	113	117
Total equity	19,976	20,841
Total liabilities and equity	$ 36,064	$ 36,960

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jul. 02, 2021	Jan. 01, 2021
Shareholders’ Equity:
Preferred shares, authorized (in shares)	1,000,000	1,000,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, authorized (in shares)	500,000,000	500,000,000
Common shares, issued (in shares)	201,643,891	208,230,353
Common shares, outstanding (in shares)	201,643,891	208,230,353

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020
Operating Activities
Net income	$ 879	$ 472
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of acquisition-related intangibles	320	353
Depreciation and other amortization	164	162
Share-based compensation	67	40
Share-based matching contributions under defined contribution plans	117	122
Qualified pension plan contributions	(4)	(4)
Pension and other postretirement benefit plan income	(188)	(160)
Investment and asset impairment charges	242	394
Business divestiture-related (gains) losses	(165)	52
Deferred income taxes	(151)	(109)
(Increase) decrease in:
Accounts receivable	62	(59)
Contract assets	(438)	43
Inventories	46	175
Prepaid expenses and other current assets	(21)	(27)
Increase (decrease) in:
Accounts payable	69	(116)
Contract liabilities	86	(80)
Compensation and benefits	(80)	(29)
Income taxes	309	92
Other accrued items	8	65
Other	59	(51)
Net cash provided by operating activities	1,381	1,335
Investing Activities
Additions of property, plant and equipment	(128)	(108)
Proceeds from sale of property, plant and equipment	4	0
Proceeds from sales of businesses, net	1,430	963
Other investing activities	1	(10)
Net cash provided by investing activities	1,307	845
Financing Activities
Net proceeds from borrowings	5	248
Repayments of borrowings	(10)	(254)
Proceeds from exercises of employee stock options	38	37
Repurchases of common stock	(1,550)	(700)
Cash dividends	(416)	(367)
Other financing activities	(4)	(6)
Net cash used in financing activities	(1,937)	(1,042)
Effect of exchange rate changes on cash and cash equivalents	2	(15)
Net increase in cash and cash equivalents	753	1,123
Cash and cash equivalents, beginning of year	1,276	824
Cash and cash equivalents, end of quarter	$ 2,029	$ 1,947

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions	Total	Common Stock	Other Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interests
Beginning balance at Jan. 03, 2020	$ 22,744	$ 218	$ 20,694	$ 2,183	$ (508)	$ 157
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	472			500		(28)
Other comprehensive income (loss)	(116)				(116)
Shares issued under stock incentive plans	37	1	36
Shares issued under defined contribution plans	122		122
Share-based compensation expense	40		40
Repurchases and retirement of common stock	(700)	(3)	(631)	(66)
Cash dividends	(367)			(367)
Other	(6)		(1)			(5)
Ending balance at Jul. 03, 2020	22,226	216	20,260	2,250	(624)	124
Beginning balance at Apr. 03, 2020	22,027	216	20,182	2,151	(651)	129
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	278			283		(5)
Other comprehensive income (loss)	27				27
Shares issued under stock incentive plans	4		4
Shares issued under defined contribution plans	51	0	51
Share-based compensation expense	24		24
Cash dividends	(184)			(184)
Other	(1)		(1)
Ending balance at Jul. 03, 2020	22,226	216	20,260	2,250	(624)	124
Beginning balance at Jan. 01, 2021	20,841	208	19,008	2,347	(839)	117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	879			881		(2)
Other comprehensive income (loss)	4				4
Shares issued under stock incentive plans	38	1	37
Shares issued under defined contribution plans	117	1	116
Share-based compensation expense	67		67
Repurchases and retirement of common stock	(1,550)	(8)	(1,364)	(178)
Cash dividends	(416)			(416)
Other	(4)		(1)	(1)		(2)
Ending balance at Jul. 02, 2021	19,976	202	17,863	2,633	(835)	113
Beginning balance at Apr. 02, 2021	20,482	205	18,487	2,529	(854)	115
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	413			413		0
Other comprehensive income (loss)	19				19
Shares issued under stock incentive plans	28	1	27
Shares issued under defined contribution plans	60	1	59
Share-based compensation expense	34		34
Repurchases and retirement of common stock	(850)	(5)	(744)	(101)
Cash dividends	(207)			(207)
Other	(3)		0	(1)		(2)
Ending balance at Jul. 02, 2021	$ 19,976	$ 202	$ 17,863	$ 2,633	$ (835)	$ 113

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Retained Earnings
Cash dividends (in dollars per share)	$ 1.02	$ 0.85	$ 2.04	$ 1.70

Significant Accounting Policies

Significant Accounting Policies and Recent Accounting Standards	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Significant Accounting Policies and Recent Accounting Standards	Note A — Significant Accounting Policies and Recent Accounting Standards Basis of Presentation The accompanying Condensed Consolidated Financial Statements (Unaudited) include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these Notes to Condensed Consolidated Financial Statements (Unaudited) (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 in consolidation. The accompanying Condensed Consolidated Financial Statements (Unaudited) have been prepared by L3Harris, without an audit, in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, such interim financial statements do not include all information and footnotes necessary for a complete presentation of financial condition, results of operations, cash flows and equity in conformity with GAAP for annual financial statements. In the opinion of management, such interim financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of our financial condition, results of operations, cash flows and equity for the periods presented therein. The results for the quarter and two quarters ended July 2, 2021 are not necessarily indicative of the results that may be expected for the full fiscal year or any subsequent period. The balance sheet at January 1, 2021 has been derived from our audited financial statements, but does not include all of the information and footnotes required by GAAP for annual financial statements. We provide complete, audited financial statements in our Annual Report on Form 10-K, which includes information and footnotes required by the rules and regulations of the SEC. The information included in this Quarterly Report on Form 10-Q (this “Report”) should be read in conjunction with the Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and accompanying Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 1, 2021 (our “Fiscal 2020 Form 10-K”). Amounts contained in this Report may not always add to totals due to rounding. L3Harris Merger As discussed in more detail in our Fiscal 2020 Form 10-K, Harris Corporation (“Harris”) and L3 Technologies, Inc. (“L3”) combined their respective businesses on June 29, 2019, in an all-stock merger (“L3Harris Merger”) that resulted in our combined Company, L3Harris Technologies, Inc. L3Harris Merger-related expenses for the quarter and two quarters ended July 2, 2021 and July 3, 2020 were as follows: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Additional cost of sales related to fair value step-up in inventory sold $ — $ 16 $ — $ 31 Restructuring charges — 7 — 7 Integration costs, recognized as incurred 20 37 41 68 Total L3Harris Merger-related expenses $ 20 $ 60 $ 41 $ 106 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 above costs were recorded in the “Engineering, selling and administrative expenses” line item in our Condensed Consolidated Statement of Income (Unaudited), except for the additional cost of sales related to fair value step-up in inventory sold, which is included in the “Cost of product sales and services” line item in our Condensed Consolidated Statement of Income (Unaudited). For additional information, see Note 5: “Business Combination” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K. Divestitures See Note B — Business Divestitures in these Notes for information regarding the following businesses divested or classified as held for sale in fiscal 2020 and 2021: • Airport security and automation business, divested on May 4, 2020; • Applied Kilovolts and Analytical Instrumentation business, divested on May 15, 2020; • EOTech business, divested on July 31, 2020; • Military training business, divested on July 2, 2021; • Combat Propulsion Systems and related businesses (“CPS business”), divested on July 2, 2021; • Voice Switch Enterprise disposal group (“VSE disposal group”), definitive agreement entered into on February 23, 2021 and divestiture partially completed during the quarter ended July 2, 2021, with the remainder classified as held for sale; • Electron Devices and Narda Microwave-West divisions (“Electron Devices business”), definitive agreement entered into on July 2, 2021 and classified as held for sale during the quarter ended July 2, 2021; and • Aerospace Products disposal groups (“AP disposal groups”), classified as held for sale during the quarter ended July 2, 2021. Supplemental Cash Flow Information Non-cash investing and financing activities during the two quarters ended July 2, 2021 included a $120 million right-of-use asset we obtained in exchange for a corresponding finance lease liability. These non-cash investing and financing activities are excluded from the “Additions of property, plant and equipment” and “Net proceeds from borrowings” line items in our Condensed Consolidated Statement of Cash Flows (Unaudited). There were no material non-cash investing or financing activities during the two quarters ended July 3, 2020. Right-of-use assets for finance leases are included in the “Property, plant and equipment, net” line item and the corresponding finance lease liabilities are included in the “Current portion of long-term debt, net” and “Long-term debt, net” line items in our Condensed Consolidated Balance Sheet (Unaudited). Reclassifications The classification of certain prior-year amounts have been adjusted in our Condensed Consolidated Financial Statements (Unaudited) to conform to current-year classifications. Reclassifications include finance lease liabilities that were previously included in the “Other accrued items” and “Other long-term liabilities” line items and are now reflected in the “Current portion of long-term debt, net” and “Long-term debt, net” line items in our Condensed Consolidated Balance Sheet (Unaudited). Use of Estimates The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements (Unaudited) and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Condensed Consolidated Financial Statements (Unaudited) and these Notes. Materially different results can occur as circumstances change and additional information becomes known. Significant Accounting Policies Update

Business Divestitures

Business Divestitures	6 Months Ended
	Jul. 02, 2021
Discontinued Operations and Disposal Groups [Abstract]
Business Divestitures	Note B — Business Divestitures 2021 Divestitures Held for Sale Businesses Electron Devices business. On July 2, 2021, we entered into a definitive agreement to sell our Electron Devices business to an affiliate of Arlington Capital Partners for $185 million, subject to customary purchase price adjustments and closing conditions as set forth in the definitive agreement. The Electron Devices business, which is reported as part of our Aviation Systems segment, manufactures microwave devices for ground-based, airborne and satellite communications and radar. We expect to complete the sale of the Electron Devices business in the second half of fiscal 2021. Aerospace Products disposal groups. During the quarter ended July 2, 2021, we determined the criteria to be classified as held for sale were met with respect to two businesses within our Aviation Systems segment, which we refer to together in this Report as the “AP disposal groups”. We expect to complete the sale of the AP disposal groups in the next twelve months. VSE disposal group . On February 23, 2021, we entered into a definitive agreement to sell the VSE disposal group for $20 million, subject to customary purchase price adjustments and closing conditions as set forth in the definitive agreement. The definitive agreement includes provisions to accommodate, as necessary, closing the transactions contemplated by the agreement on a deferred basis if local consents and regulatory approvals in certain jurisdictions are obtained at a later date than in other jurisdictions. The VSE disposal group, which is reported as part of our Aviation Systems segment, provides voice over internet protocol systems for air traffic management communications. During the quarter ended July 2, 2021, as contemplated by the definitive agreement, we consummated transactions in several jurisdictions for net cash proceeds of $2 million. (We consummated the closing in the final jurisdiction on July 30, 2021). Because the divestiture of the VSE disposal group represents the disposal of a portion of a reporting unit within our Aviation Systems segment, we assigned $14 million of goodwill to the VSE disposal group on a relative fair value basis during the quarter ended July 3, 2020 when the held for sale criteria were met. In connection with the preparation of our financial statements for fiscal 2020, we recognized a $32 million pre-tax loss to reduce the net assets of the VSE disposal group to fair value less costs to sell, which included a non-cash goodwill impairment charge of $14 million (based on the excess of the carrying value of the business over estimated net cash proceeds, after estimated purchase price adjustments) and an $18 million non-cash remeasurement loss. During the quarter and two quarters ended July 2, 2021, we recorded additional pre-tax losses of $18 million and $26 million, respectively, for non-cash remeasurement losses. The non-cash goodwill impairment is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited). The carrying amounts of the major classes of assets and liabilities for the businesses classified as held for sale included in our Condensed Consolidated Balance Sheet (Unaudited) at July 2, 2021 were as follows: (In millions) Electron Devices business AP disposal groups VSE disposal group Consolidated Total Receivables, net $ 25 $ 19 $ 1 $ 45 Contract assets 65 11 7 83 Inventories 17 28 1 46 Other current assets 3 2 — 5 Property, plant and equipment, net 28 15 1 44 Goodwill 15 11 — 26 Other intangible assets 60 31 5 96 Deferred taxes — 1 — 1 Other non-current assets 96 37 — 133 Assets of disposal group held for sale $ 309 $ 155 $ 15 $ 479 Accounts payable $ 14 $ 9 $ 1 24 Contract liabilities 52 2 1 55 Other accrued items 36 11 — 47 Other non-current liabilities 78 37 — 115 Deferred taxes — 2 — 2 Liabilities of disposal group held for sale $ 180 $ 61 $ 2 $ 243 The carrying amounts of the assets and liabilities of the VSE disposal group classified as held for sale in our Consolidated Balance Sheet were $35 million and $13 million, respectively, at January 1, 2021. Completed Divestitures CPS business. On July 2, 2021, we completed the divestiture of the CPS business to RENK AG for $398 million (net proceeds of $347 million after selling costs and estimated purchase price adjustments, including $6 million of accrued selling costs). The CPS business engineers, designs and manufactures engines, transmissions, suspensions and turret drive systems for tracked and wheeled combat vehicle systems. The operating results of the CPS business through the date of divestiture were reported as part of our Aviation Systems segment. Because the then-pending divestiture of the CPS business represented the disposal of a portion of a reporting unit within our Aviation Systems segment, we assigned $174 million of goodwill to the CPS business on a relative fair value basis during the quarter ended April 2, 2021, when the held for sale criteria were met, and we recognized a non-cash goodwill impairment charge of $62 million (based on the excess of the carrying value of the business over estimated net cash proceeds, after estimated purchase price adjustments), which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited). Military training business. On July 2, 2021, we completed the divestiture of the military training business to CAE USA Inc., a subsidiary of CAE Inc., for $1,050 million (net proceeds of $1,057 million after selling costs and estimated purchase price adjustments, including $17 million of accrued selling costs). The military training business provides flight simulation solutions and training services to the U.S. Department of Defense (“DoD”) and foreign military agencies. The operating results of the military training business through the date of divestiture were reported as part of our Aviation Systems segment. 2020 Divestitures EOTech business. On July 31, 2020, we completed the divestiture of the EOTech business for $42 million (net cash proceeds of $40 million after selling costs and estimated purchase price adjustments), subject to final customary purchase price adjustments. The EOTech business manufactures holographic sighting systems, magnified field optics and accessories for military, law enforcement and commercial markets around the world. The operating results of the EOTech business through the date of divestiture were reported as part of our Communication Systems segment. Applied Kilovolts and Analytical Instrumentation business. On May 15, 2020, we completed the divestiture of the Applied Kilovolts and Analytical Instrumentation business for net cash proceeds of $12 million, after selling costs and purchase price adjustments. In connection with the preparation of our financial statements for the quarter ended April 3, 2020, we tested goodwill assigned to the Applied Kilovolts and Analytical Instrumentation business disposal group and goodwill assigned to the retained businesses of the reporting unit for impairment and concluded that goodwill related to the disposal group was impaired. As a result, we recorded a non-cash impairment charge of $5 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited). The operating results of the Applied Kilovolts and Analytical Instrumentation business through the date of divestiture were reported as part of our Space and Airborne Systems segment. Airport security and automation business. On May 4, 2020, we completed the divestiture of the airport security and automation business to Leidos, Inc. for $1 billion (net cash proceeds of $987 million after selling costs and purchase price adjustments). 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 operating results of the airport security and automation business through the date of divestiture were reported as part of our Aviation Systems segment. For purposes of allocating goodwill to the disposal groups, we determined the fair value of each disposal group based on the respective negotiated selling price (or estimated net cash proceeds, in the case of no negotiated selling price), and the fair value of the retained businesses of the respective reporting unit 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” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K for additional information regarding the fair value hierarchy. For additional information regarding the impairment of goodwill related to our business and disposal group divestitures, see Note I — Goodwill and Other Intangible Assets in these Notes . The following table presents the amount of income (loss) before income taxes attributable to businesses divested or held for sale in our Condensed Consolidated Statement of Income (Unaudited): Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Electron Devices business $ 11 $ 6 $ 30 $ 15 CPS business 27 13 53 29 Military training business 18 16 35 40 Airport security and automation business — (3) — 9 The “Business divestiture-related gains (losses)” line item in our Condensed Consolidated Statement of Income (Unaudited) is comprised of the following pre-tax gains (losses) associated with businesses divested or held for sale: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 VSE disposal group (1) $ (18) $ (14) $ (26) $ (14) CPS business (2) (12) — (19) — Military training business 212 — 212 — Airport security and automation business — (23) — (26) Other (3) (2) (12) (2) (12) Total Business divestiture-related gain (losses) $ 180 $ (49) $ 165 $ (52) _______________ (1) During the quarter ended July 3, 2020, upon classifying the VSE disposal group as held for sale, we recorded a non-cash impairment charge of $14 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the quarter ended July 3, 2020. We recognized an $18 million non-cash remeasurement loss related to the VSE disposal group during the year ended January 1, 2021. (2) During the quarter ended April 2, 2021, upon classifying the CPS business as held for sale, we recorded a non-cash impairment charge of $62 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited). See Note I — Goodwill and Other Intangible Assets in these Notes for additional information.

Stock Options and Other Share-B

Stock Options and Other Share-Based Compensation	6 Months Ended
	Jul. 02, 2021
Share-based Payment Arrangement [Abstract]
Stock Options and Other Share-Based Compensation	Note C — Stock Options and Other Share-Based Compensation As of July 2, 2021, we had options or other share-based compensation outstanding under two Harris shareholder-approved stock incentive plans (“SIPs”) , the Harris Corporation 2005 Equity Incentive Plan (As Amended and Restated Effective August 27, 2010) and the L3Harris Technologies, Inc. 2015 Equity Incentive Plan (As Amended and Restated Effective as of August 28, 2020) (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. The compensation cost related to our share-based awards that was charged against income was $34 million and $67 million for the quarter and two quarters ended July 2, 2021, respectively, and $24 million and $40 million for the quarter and two quarters ended July 3, 2020, respectively. The aggregate number of shares of our common stock issued under L3Harris SIPs, net of shares withheld for tax purposes, was 0.4 million and 0.5 million for the quarter and two quarters ended July 2, 2021, respectively, and 0.5 million for the two quarters ended July 3, 2020. Shares issued for the quarter ended July 3, 2020 were not material. Awards granted to participants under L3Harris SIPs during the quarter ended July 2, 2021 consisted of 0.1 million restricted stock units and no stock options or performance stock units. Awards granted to participants under L3Harris SIPs during the two quarters ended July 2, 2021 consisted of 0.5 million stock options, 0.2 million performance stock units and 0.2 million restricted stock units. The fair value as of the grant date of each stock option award was determined using the Black-Scholes-Merton option-pricing model and the following assumptions: expected dividend yield of 1.99 percent; expected volatility of 31.71 percent; risk-free interest rates averaging 0.75 percent; and expected term of 5.05 years. The fair value as of the grant date of each restricted stock unit award was based on the closing price of our common stock on the grant date. The fair value as of the grant date of each performance stock unit award was determined based on the fair value from a multifactor Monte Carlo valuation model that simulates our stock price and total shareholder return (“TSR”) relative to companies in our TSR peer group.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) ("AOCI")	6 Months Ended
	Jul. 02, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss) ("AOCI")	Note D — Accumulated Other Comprehensive Income (Loss) (“AOCI”) The components of AOCI are summarized below: (In millions) Foreign currency translation Net unrealized losses on hedging derivatives Unrecognized postretirement obligations Total AOCI Balance at January 1, 2021 $ (58) $ (80) $ (701) $ (839) Other comprehensive (loss) income, before income taxes (3) 9 (3) 3 Income taxes — (2) 1 (1) Other comprehensive (loss) income before reclassifications to earnings, net of income taxes (3) 7 (2) 2 Losses (gains) reclassified to earnings (1) 2 (8) 8 2 Income taxes — 2 (2) — Losses (gains) reclassified to earnings, net of income taxes 2 (6) 6 2 Other comprehensive (loss) income, net of income taxes (1) 1 4 4 Balance at July 2, 2021 $ (59) $ (79) $ (697) $ (835) Balance at January 3, 2020 $ (81) $ (55) $ (372) $ (508) Other comprehensive loss, before income taxes (60) (80) — (140) Income taxes — 20 — 20 Other comprehensive loss before reclassifications to earnings, net of income taxes (60) (60) — (120) Losses (gains) reclassified to earnings (1) 7 7 (10) 4 Income taxes — (2) 2 — Losses (gains) reclassified to earnings, net of income taxes 7 5 (8) 4 Other comprehensive loss, net of income taxes (53) (55) (8) (116) Balance at July 3, 2020 $ (134) $ (110) $ (380) $ (624) _______________ (1) Losses (gains) reclassified to earnings are included in the “Revenue from product sales and services,” “Business divestiture-related gains (losses),” “Interest expense, net” and “Non-operating income” line items in our Condensed Consolidated Statement of Income (Unaudited).

Receivables, net

Receivables, net	6 Months Ended
	Jul. 02, 2021
Receivables [Abstract]
Receivables, net	Note E — Receivables, net Receivables, net are summarized below: (In millions) July 2, 2021 January 1, 2021 Accounts receivable $ 1,227 $ 1,369 Less allowance for credit losses (30) (25) Receivables, net $ 1,197 $ 1,344 We have two receivables sale agreements (“RSAs”) with third-party financial institutions that permit us to sell, on a non-recourse basis, up to $100 million each of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSAs, which we continue to service and collect on behalf of the third-party financial institutions and which we account for as sales of receivables with sale proceeds included in net cash from operating activities. Outstanding accounts receivable sold pursuant to the RSAs were not material at July 2, 2021 or January 1, 2021.

Contract Assets and Contract Li

Contract Assets and Contract Liabilities	6 Months Ended
	Jul. 02, 2021
Revenue from Contract with Customer [Abstract]
Contract Assets and Contract Liabilities	Note F — Contract Assets and Contract Liabilities 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 associated with extended product warranties. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities in the two quarters ended July 2, 2021 were impacted primarily by reclassifications to assets and liabilities of disposal groups held for sale, accelerated progress payments due to the U.S. Government’s temporary increase in the progress payment rate from 80 percent to 90 percent and the timing of contractual billing milestones. See Note B — Business Divestitures in these Notes for additional information regarding assets and liabilities classified as held for sale. Contract assets and contract liabilities are summarized below: (In millions) July 2, 2021 January 1, 2021 Contract assets $ 2,648 $ 2,437 Contract liabilities, current (1,205) (1,198) Contract liabilities, non-current (1) (98) (73) Net contract assets $ 1,345 $ 1,166 _______________ (1) The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Condensed Consolidated Balance Sheet (Unaudited). The components of contract assets are summarized below: (In millions) July 2, 2021 January 1, 2021 Unbilled contract receivables, gross $ 4,377 $ 4,268 Unliquidated progress payments and advances (1,729) (1,831) Contract assets $ 2,648 $ 2,437 Impairment losses related to our contract assets were not material for the quarter or two quarters ended July 2, 2021 or July 3, 2020. Contract liabilities recognized as revenue that were outstanding at the end of the prior fiscal year were $219 million and $727 million for the quarter and two quarters ended July 2, 2021, respectively, and $301 million and $785 million for the quarter and two quarters ended July 3, 2020, respectively. Note R — 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 contracts. At July 2, 2021, our ending backlog was $20.2 billion. We expect to recognize approximately 66 percent of the revenue associated with this backlog by the end of 2022 and approximately 78 percent by the end of 2023, with the remainder to be recognized thereafter. At January 1, 2021, our ending backlog was $21.7 billion, including $1.1 billion of backlog associated with businesses that were divested during the quarter ended July 2, 2021.

Inventories

Inventories	6 Months Ended
	Jul. 02, 2021
Inventory Disclosure [Abstract]
Inventories	Note G — Inventories Inventories are summarized below: (In millions) July 2, 2021 January 1, 2021 Finished products $ 145 $ 136 Work in process 292 367 Raw materials and supplies 435 470 Total inventories $ 872 $ 973

Property, Plant and Equipment,

Property, Plant and Equipment, net	6 Months Ended
	Jul. 02, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Note H — Property, Plant and Equipment, net Property, plant and equipment, net are summarized below: (In millions) July 2, 2021 January 1, 2021 Land $ 81 $ 90 Software capitalized for internal use 500 417 Buildings 1,186 1,097 Machinery and equipment 2,137 2,265 3,904 3,869 Less accumulated depreciation and amortization (1,878) (1,767) Total property, plant and equipment, net $ 2,026 $ 2,102 Depreciation and amortization expense related to property, plant and equipment was $80 million and $164 million for the quarter and two quarters ended July 2, 2021, respectively, and $78 million and $154 million for the quarter and two quarters ended July 3, 2020, respectively. As discussed in more detail in Note I — Goodwill and Other Intangible Assets in these Notes, in conjunction with, and in advance of, the tests of goodwill related to our Commercial Training Solutions reporting unit (“CTS reporting unit”), we recorded an $82 million non-cash impairment charge for long-lived assets, consisting of $19 million, $56 million and $7 million of impairment charges for right of use assets, property, plant and equipment and software, respectively, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the quarter and two quarters ended July 2, 2021.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jul. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note I — Goodwill and Other Intangible Assets Goodwill The assignment of goodwill by business segment, and changes in the carrying amount of goodwill by business segment, were as follows: (In millions) Integrated Mission Systems Space and Airborne Systems Communication Systems Aviation Systems Total Balance at January 1, 2021 $ 6,499 $ 5,232 $ 4,153 $ 2,992 $ 18,876 Goodwill decrease from divestitures (1) — — — (538) (538) Decrease from reclassification to assets of disposal group held for sale (2) — — — (26) (26) Impairment of goodwill — — — (62) (62) Currency translation adjustments 1 (13) 1 (5) (16) Balance at July 2, 2021 $ 6,500 $ 5,219 $ 4,154 $ 2,361 $ 18,234 Balance at January 3, 2020 $ 5,768 $ 5,131 $ 4,243 $ 4,859 $ 20,001 Goodwill decrease from divestitures (1) — (2) — (531) (533) Decrease from reclassification to assets of disposal group held for sale (2) — — (9) — (9) Impairment of goodwill — (5) — (364) (369) Currency translation adjustments 3 (7) (2) (5) (11) Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed) 740 124 (81) (847) (64) Balance at July 3, 2020 $ 6,511 $ 5,241 $ 4,151 $ 3,112 $ 19,015 _______________ (1) During the two quarters ended July 2, 2021, we completed the divestitures of our CPS business and military training business and derecognized $538 million of goodwill as part of determining the gain or loss on the sales of these businesses. During the two quarters ended July 3, 2020, we completed the divestitures of our airport security and automation business and our Applied Kilovolts and Analytical Instrumentation business and derecognized $533 million of goodwill as part of determining the gain or loss on the sales of these businesses. (2) During the two quarters ended July 2, 2021 and July 3, 2020, we assigned $26 million and $9 million, respectively, of goodwill associated with pending divestitures to “Assets of disposal groups held for sale” in our Condensed Consolidated Balance Sheet (Unaudited). See Note B — Business Divestitures in these Notes for additional information. CPS Business Impairment. During the quarter ended April 2, 2021, we determined the criteria to be classified as held for sale were met with respect to the CPS business within our Aviation Systems segment and assigned $174 million of goodwill to the disposal group on a relative fair value basis. In connection with the preparation of our financial statements for the quarter ended April 2, 2021, we concluded that goodwill related to the CPS business was impaired and we recorded a non-cash impairment charge of $62 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited). See Note B — Business Divestitures in these Notes for additional information. Commercial Aviation Solutions Impairment. Indications of potential impairment of goodwill related to our Commercial Aviation Solutions sector (which is part of our Aviation Systems segment) were present at April 3, 2020 due to COVID and its impact on global air traffic and customer operations, resulting in a decrease in fiscal 2020 outlook for the sector, which we considered to be a triggering event requiring an interim impairment test. Consequently, in connection with the preparation of our financial statements for the quarter ended April 3, 2020, we performed a quantitative impairment test. To test for potential impairment of goodwill related to Commercial Aviation Solutions sector, we prepared an estimate of the fair value of the sector based on a combination of market-based valuation techniques, utilizing quoted market prices and comparable publicly reported transactions, and projected discounted cash flows. Our methodology for determining the fair value of the sector placed the greatest weight on the expected fair value technique, and was dependent on our best estimates of future sales, operating costs and balance sheet metrics under a range of scenarios for future economic conditions. We assigned a probability to each scenario to calculate a set of probability-weighted projected cash flows, and an appropriate discount rate reflecting the risk in the projected cash flows was used to discount the expected cash flows to present value. As adverse global economic and market conditions attributable to COVID, including projected declines and subsequent recovery in commercial air traffic and original equipment manufacturer production volumes, continued to develop during fiscal 2020, we continued to monitor for facts and circumstances that could negatively impact key valuation assumptions in determining the fair value of Commercial Aviation Solutions, including valuations, expectations regarding the timing of a return to pre-COVID commercial flight activity and the associated level of uncertainty, long-term revenue and profitability projections, discount rates and general industry, market and macroeconomic conditions. As a result, we determined indications of further impairment of assets related to Commercial Aviation Solutions existed as of July 3, 2020. As a result of these impairment tests, we concluded that goodwill related to our Commercial Aviation Solutions sector was impaired as of April 3, 2020 and July 3, 2020, and we recorded non-cash impairment charges of $296 million and $54 million, respectively (including $28 million and $8 million, respectively, attributable to noncontrolling interest), in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the quarter and two quarters ended July 3, 2020. The goodwill impairment charges were primarily not deductible for tax purposes. VSE Disposal Group Impairment. During the quarter ended July 3, 2020, we determined the criteria to be classified as held for sale were met with respect to the VSE disposal group within our Aviation Systems segment and assigned $14 million of goodwill to the VSE disposal group on a relative fair value basis. In connection with the preparation of our financial statements for the quarter ended July 3, 2020, we concluded that goodwill related to the VSE disposal group was impaired and recorded a non-cash impairment charge of $14 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the quarter ended July 3, 2020. Identifiable 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 asset charge, all of which is discounted to present value. We assess the recoverability of the carrying value of our finite-lived identifiable 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 identifiable intangible assets annually, or under certain circumstances more frequently, such as when events and circumstances indicate there may be an impairment. Commercial Training Solutions Impairment. During the quarter ended July 2, 2021, we adjusted our Aviation Systems segment reporting to better align our businesses and separated the Commercial Training Solutions (“CTS”) business from our Commercial Aviation Solutions reporting unit, creating a new reporting unit within the Commercial Aviation Solutions sector of our Aviation Systems segment. Immediately before and after our goodwill assignments, we completed an assessment of any potential goodwill impairment under our former and new reporting unit structure and determined that no impairment existed. To test for potential impairment of the long-lived assets, including identifiable intangible assets and property, plant and equipment, related to CTS, we compared the estimated future cash flows (on an undiscounted basis) to be generated from the use and hypothetical eventual disposition of the asset group to its carrying value and, as a result, we determined the carrying value of the CTS asset group was not recoverable. Next, we prepared an estimate of the fair value of CTS based on a combination of market-based valuation techniques, utilizing quoted market prices and comparable publicly reported transactions and projected discounted cash flows. We compared the fair value of CTS to our carrying value and recorded a $145 million non-cash charge for the impairment of CTS long-lived assets, including $63 million for impairment of identifiable intangible assets, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the quarter and two quarters ended July 2, 2021. See Note H — Property, Plant and Equipment, net in these Notes for additional information. Identifiable intangible assets are summarized below: July 2, 2021 January 1, 2021 (In millions) Gross Accumulated Amortization Net Carrying Amount (1) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 6,207 $ 1,450 $ 4,757 $ 6,863 $ 1,257 $ 5,606 Developed technologies 603 286 317 653 261 392 Contract backlog 13 13 — 19 17 2 Trade names — divisions 108 48 60 129 45 84 Other 3 3 — 3 3 — Total identifiable intangible assets subject to amortization 6,934 1,800 5,134 7,667 1,583 6,084 In-process research and development 21 — 21 21 — 21 Trade names — corporate 1,803 — 1,803 1,803 — 1,803 Total identifiable intangible assets $ 8,758 $ 1,800 $ 6,958 $ 9,491 $ 1,583 $ 7,908 _______________ (1) During the two quarters ended July 2, 2021, we derecognized $486 million of intangible assets associated with completed divestitures and reclassified $91 million of intangible assets associated with pending divestitures to “Assets of disposal groups held for sale” in our Condensed Consolidated Balance Sheet (Unaudited). See Note B — Business Divestitures in these Notes for additional information regarding divestitures. Amortization expense for identifiable intangible assets, which primarily relates to the L3Harris Merger, was $156 million and $320 million for the quarter and two quarters ended July 2, 2021, respectively, and was $209 million and $367 million for the quarter and two quarters ended July 3, 2020, respectively. Future estimated amortization expense for identifiable intangible assets subject to amortization is as follows: (In millions) Year 1 $ 610 Year 2 606 Year 3 587 Year 4 543 Year 5 494 Thereafter 2,294 Total $ 5,134

Accrued Warranties

Accrued Warranties	6 Months Ended
	Jul. 02, 2021
Product Warranties Disclosures [Abstract]
Accrued Warranties	Note J — 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 Condensed Consolidated Balance Sheet (Unaudited). Changes in our liability for standard product warranties during the two quarters ended July 2, 2021 were as follows: (In millions) Balance at January 1, 2021 $ 133 Decrease from divestitures (5) Accruals for product warranties issued during the period 22 Settlements made during the period (27) Balance at July 2, 2021 $ 123

Postretirement Benefit Plans

Postretirement Benefit Plans	6 Months Ended
	Jul. 02, 2021
Retirement Benefits [Abstract]
Postretirement Benefit Plans	Note K — Postretirement Benefit Plans The following tables provide the components of our net periodic benefit income for our defined benefit plans, including defined benefit pension plans and other postretirement defined benefit plans: Quarter Ended July 2, 2021 Two Quarters Ended July 2, 2021 (In millions) Pension Other Benefits Pension Other Benefits Net periodic benefit income Service cost $ 18 $ — $ 36 $ 1 Interest cost 46 2 92 3 Expected return on plan assets (157) (5) (312) (10) Amortization of net actuarial loss 10 — 19 — Amortization of prior service credit (7) — (14) — Net gain from curtailments and settlements (3) — (3) — Net periodic benefit income $ (93) $ (3) $ (182) $ (6) Quarter Ended July 3, 2020 Two Quarters Ended July 3, 2020 (In millions) Pension Other Benefits Pension Other Benefits Net periodic benefit income Service cost $ 16 $ 1 $ 32 $ 1 Interest cost 68 2 137 4 Expected return on plan assets (157) (5) (315) (10) Amortization of net actuarial loss (gain) 3 (1) 5 (1) Amortization of prior service credit (7) — (14) — Contractual termination cost (1) — — 1 — Net periodic benefit income $ (77) $ (3) $ (154) $ (6) _______________ (1) For the two quarters ended July 3, 2020, includes contractual termination benefits related to facility rationalization as part of restructuring activities in connection with the L3Harris Merger integration. See Note 4: “Restructuring and Other Exit Costs” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K for further information. During the quarter ended July 2, 2021, we undertook an initiative to de-risk pension obligations by purchasing a group annuity policy and transferring approximately $169 million of pension plan assets to an insurance company thereby reducing our defined benefit obligations by approximately $169 million. As a result of the annuity purchase, we recognized a pre-tax Financial Accounting Standard settlement gain of $3 million in the quarter ended July 2, 2021, which is included as a component of the “Non-operating income” line item in our Condensed Consolidated Statement of Income (Unaudited). The service cost component of net periodic benefit income is included in the “Cost of product sales and services” and “Engineering, selling and administrative expenses” line items in our Condensed Consolidated Statement of Income (Unaudited). The non-service cost components of net periodic benefit income are included in the “Non-operating income” line item in our Condensed Consolidated Statement of Income (Unaudited), except for contractual termination benefits which are included in the “Engineering, selling and administrative expenses” line item in our Condensed Consolidated Statement of Income (Unaudited).

Income From Continuing Operatio

Income From Continuing Operations Per Share	6 Months Ended
	Jul. 02, 2021
Earnings Per Share [Abstract]
Income From Continuing Operations Per Share	Note L — Income From Continuing Operations Per Share The computations of income from continuing operations per common share attributable to L3Harris common shareholders are as follows: Quarter Ended Two Quarters Ended (In millions, except per share amounts) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Income from continuing operations (A) $ 413 $ 283 $ 882 $ 501 Basic weighted average common shares outstanding (B) 203.6 215.9 205.2 216.7 Impact of dilutive share-based awards 2.0 1.9 1.9 2.0 Diluted weighted average common shares outstanding (C) 205.6 217.8 207.1 218.7 Income from continuing operations per basic common share (A)/(B) $ 2.03 $ 1.31 $ 4.29 $ 2.31 Income from continuing operations per diluted common share (A)/(C) $ 2.01 $ 1.30 $ 4.26 $ 2.29 Potential dilutive common shares primarily consist of employee stock options, restricted stock units and performance stock units. Income from continuing operations per diluted common share excludes the anti-dilutive impact of 1.7 million and 1.6 million weighted average share-based awards outstanding for the quarter and two quarters ended July 2, 2021, respectively, and 1.5 million and 1.2 million weighted average share-based awards outstanding for the quarter and two quarters ended July 3, 2020, respectively.

Non-Operating Income

Non-Operating Income	6 Months Ended
	Jul. 02, 2021
Nonoperating Income (Expense) [Abstract]
Non-Operating Income	Note M — Non-Operating Income The components of non-operating income were as follows: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Pension adjustment (1) $ 114 $ 98 $ 225 $ 195 Impairment of equity method investment (35) — (35) — Other 7 7 13 5 Total non-operating income $ 86 $ 105 $ 203 $ 200 ______________

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note N — Income Taxes Our effective tax rate (income taxes as a percentage of income from continuing operations before income taxes) was 29.0 percent for the quarter ended July 2, 2021 compared with 17.3 percent for the quarter ended July 3, 2020. During the quarter ended July 2, 2021, our effective tax rate was unfavorably impacted by non-deductible goodwill from completed business divestitures and the unfavorable impact of valuation allowances in certain foreign jurisdictions, partially offset by the favorable impact of research and development (“R&D”) credits, favorable resolution of specific audit uncertainties and the favorable impact of excess tax benefits related to equity-based compensation. During the quarter ended July 3, 2020, our effective tax rate benefited from the favorable impact of R&D credits and the favorable impact of a net reduction in our uncertain tax position balance, partially offset by the unfavorable impact of non-deductible goodwill impairment charges.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 02, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note O — Fair Value Measurements Fair value is defined as the price that would be received for an asset or the price that would be paid to transfer a liability in the principal market or most advantageous market 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 external pricing services, 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. The following table presents assets and liabilities measured at fair value on a recurring basis (at least annually) at July 2, 2021 and January 1, 2021: July 2, 2021 January 1, 2021 (In millions) Total Level 1 Level 2 Total Level 1 Level 2 Assets Deferred compensation plan assets: (1) Equity and fixed-income securities $ 73 $ 73 $ — $ 67 $ 67 $ — Investments measured at NAV: Corporate-owned life insurance 33 31 Total fair value of deferred compensation plan assets $ 106 $ 73 $ — $ 98 $ 67 $ — Derivatives (foreign currency forward contracts) $ 18 $ — $ 18 $ 24 $ — $ 24 Liabilities Deferred compensation plan liabilities: (2) Equity securities and mutual funds $ 5 $ 5 $ — $ 4 $ 4 $ — Investments measured at NAV: Common/collective trusts and guaranteed investment contracts 141 116 Total fair value of deferred compensation plan liabilities $ 146 $ 5 $ — $ 120 $ 4 $ — Derivatives (foreign currency forward contracts) $ 3 $ — $ 3 $ 4 $ — $ 4 _______________ (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 Condensed Consolidated Balance Sheet (Unaudited) and which are measured at fair value. (2) 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 Condensed Consolidated Balance Sheet (Unaudited). 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. The following table presents the carrying amounts and estimated fair values of our significant financial instruments that were not measured at fair value (carrying amounts of other financial instruments not listed in the table below approximate fair value due to the short-term nature of those items): July 2, 2021 January 1, 2021 (In millions) Carrying Fair Carrying Fair Long-term debt (including current portion) (1) $ 7,072 $ 7,872 $ 6,953 $ 7,986 _______________ (1) 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. See Note B — Business Divestitures and Note I — Goodwill and Other Intangible Assets

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jul. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note P — 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. 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 Condensed Consolidated Balance Sheet (Unaudited) at fair value. We do not hold or issue derivatives for speculative trading purposes. 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 inter-segment 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 (loss). Gains and losses in AOCI 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 Condensed Consolidated Statement of Cash Flows (Unaudited) 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 July 2, 2021, we had open foreign currency forward contracts with an aggregate notional amount of $611 million, hedging certain forecasted transactions denominated in U.S. Dollars, Canadian Dollars, British Pounds, Australian Dollars and Euros. At January 1, 2021, we had open foreign currency forward contracts with an aggregate notional amount of $488 million, hedging certain forecasted transactions denominated in U.S. Dollars, Canadian Dollars, British Pounds, Euros, Australian Dollars and New Zealand Dollars. At July 2, 2021, our foreign currency forward contracts had maturities through 2025. The table below presents the fair values of our derivatives designated as foreign currency hedging instruments in our Condensed Consolidated Balance Sheet (Unaudited) at July 2, 2021 and January 1, 2021. (In millions) July 2, 2021 January 1, 2021 Derivatives designated as hedging instruments: Foreign currency forward contracts (1) Other current assets $ 15 $ 21 Other non-current assets 3 3 Other accrued items 3 4 _______________ (1) See Note O — Fair Value Measurements in these Notes for a description of the fair value hierarchy related to our foreign currency forward contracts. Net unrealized gains before income taxes recognized in other comprehensive loss from foreign currency derivatives designated as cash flow hedges were $4 million and $9 million, respectively, for the quarter and two quarters ended July 2, 2021. During the quarter and two quarters ended July 3, 2020, we recognized a $10 million net unrealized gain and a $6 million net unrealized loss, respectively, before income taxes in other comprehensive loss from foreign currency derivatives designated as cash flow hedges. During the quarter and two quarters ended July 2, 2021, the net gain reclassified from AOCI into earnings from foreign currency derivatives designated as cash flow hedges was $8 million and $15 million, respectively. During the quarter and two quarters ended July 3, 2020, the net gain or loss reclassified from AOCI into earnings from foreign currency derivatives designated as cash flow hedges was not material. At July 2, 2021, the estimated amount of existing net gains to be reclassified into earnings within the next twelve months was $14 million. Gains and losses from foreign currency derivatives designated as cash flow hedges are included in the line item in our Condensed Consolidated Statement of Income (Unaudited) associated with the hedged transaction, with the exception of any losses resulting from discontinued cash flow hedges, which are included in the “Engineering, selling and administrative expenses” line item in our Condensed Consolidated Statement of Income (Unaudited).

Changes in Estimates

Changes in Estimates	6 Months Ended
	Jul. 02, 2021
Change in Accounting Estimate [Abstract]
Changes in Estimates	Note Q — Changes in Estimates 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. These variable amounts generally are 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. 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. Net EAC adjustments had the following impact to earnings for the periods presented: Quarter Ended Two Quarters Ended (In millions, except per share amounts) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Net EAC adjustments, before income taxes $ 80 $ 98 $ 162 $ 201 Net EAC adjustments, net of income taxes $ 60 $ 73 $ 122 $ 151 Net EAC adjustments, net of income taxes, per diluted common share $ 0.29 $ 0.34 $ 0.59 $ 0.69 Revenue recognized from performance obligations satisfied in prior periods was $107 million and $215 million for the quarter and two quarters ended July 2, 2021, respectively, and $102 million and $238 million for the quarter and two quarters ended July 3, 2020, respectively.

Backlog

Backlog	6 Months Ended
	Jul. 02, 2021
Revenue from Contract with Customer [Abstract]
Backlog	Note F — Contract Assets and Contract Liabilities 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 associated with extended product warranties. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities in the two quarters ended July 2, 2021 were impacted primarily by reclassifications to assets and liabilities of disposal groups held for sale, accelerated progress payments due to the U.S. Government’s temporary increase in the progress payment rate from 80 percent to 90 percent and the timing of contractual billing milestones. See Note B — Business Divestitures in these Notes for additional information regarding assets and liabilities classified as held for sale. Contract assets and contract liabilities are summarized below: (In millions) July 2, 2021 January 1, 2021 Contract assets $ 2,648 $ 2,437 Contract liabilities, current (1,205) (1,198) Contract liabilities, non-current (1) (98) (73) Net contract assets $ 1,345 $ 1,166 _______________ (1) The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Condensed Consolidated Balance Sheet (Unaudited). The components of contract assets are summarized below: (In millions) July 2, 2021 January 1, 2021 Unbilled contract receivables, gross $ 4,377 $ 4,268 Unliquidated progress payments and advances (1,729) (1,831) Contract assets $ 2,648 $ 2,437 Impairment losses related to our contract assets were not material for the quarter or two quarters ended July 2, 2021 or July 3, 2020. Contract liabilities recognized as revenue that were outstanding at the end of the prior fiscal year were $219 million and $727 million for the quarter and two quarters ended July 2, 2021, respectively, and $301 million and $785 million for the quarter and two quarters ended July 3, 2020, respectively. Note R — 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 contracts. At July 2, 2021, our ending backlog was $20.2 billion. We expect to recognize approximately 66 percent of the revenue associated with this backlog by the end of 2022 and approximately 78 percent by the end of 2023, with the remainder to be recognized thereafter. At January 1, 2021, our ending backlog was $21.7 billion, including $1.1 billion of backlog associated with businesses that were divested during the quarter ended July 2, 2021.

Business Segment Information

Business Segment Information	6 Months Ended
	Jul. 02, 2021
Segment Reporting [Abstract]
Business Segment Information	Note S — Business Segment Information We structure our operations primarily around the products, systems and services we sell and the markets we serve, and we report the financial results of our continuing 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 intelligence, surveillance and reconnaissance (“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; public safety and global communications solutions; and • Aviation Systems, including defense aviation; commercial aviation products; commercial pilot training; and mission networks for air traffic management. See Note B — Business Divestitures in these Notes for information relating to the following businesses divested or classified as held for sale in fiscal 2020 and 2021: • Airport security and automation business, divested on May 4, 2020, the results of which were reported as part of our Aviation Systems segment through the date of divestiture; • Applied Kilovolts and Analytical Instrumentation business, divested on May 15, 2020, the results of which were reported as part of our Space and Airborne Systems segment through the date of divestiture; • EOTech business, divested on July 31, 2020, the results of which were reported as part of our Communication Systems segment through the date of divestiture; • Military training business, divested on July 2, 2021, the results of which were reported as part of our Aviation Systems segment through the date of divestiture; • CPS business, divested on July 2, 2021, the results of which were reported as part of our Aviation Systems segment through the date of divestiture; • VSE disposal group, definitive agreement entered into on February 23, 2021 and divestiture partially completed during the quarter ended July 2, 2021, with the remainder classified as held for sale and expected to be completed in the second half of fiscal 2021, the results of which are reported as part of our Aviation Systems segment; • Electron Devices business, definitive agreement entered into on July 2, 2021 and classified as held for sale, expected to be completed during the second half of fiscal 2021, the results of which are reported as part of our Aviation Systems segment; and • AP disposal groups, classified as held for sale during the quarter ended July 2, 2021, expected to be completed during the next twelve months, the results of which are reported as part of our Aviation Systems segment. The accounting policies of our business segments are the same as those described in Note 1: “Significant Accounting Policies” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K. 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 the table below 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” line item in the table below represents the portion of corporate expenses not allocated to our business segments and elimination of intersegment profits. The “Pension adjustment” line item in the table below 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 Condensed Consolidated Statement of Income (Unaudited). 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. Segment revenue, segment operating income (loss) and a reconciliation of segment operating income to total income from continuing operations before income taxes are as follows: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue Integrated Mission Systems $ 1,494 $ 1,331 $ 2,945 $ 2,701 Space and Airborne Systems 1,287 1,249 2,523 2,441 Communication Systems 1,127 1,112 2,239 2,206 Aviation Systems 809 800 1,623 1,811 Corporate eliminations (49) (47) (95) (88) Total revenue $ 4,668 $ 4,445 $ 9,235 $ 9,071 Income From Continuing Operations Before Income Taxes Segment Operating Income (Loss): Integrated Mission Systems $ 229 $ 224 $ 469 $ 425 Space and Airborne Systems 253 235 493 456 Communication Systems 287 265 568 515 Aviation Systems 35 31 163 (146) Other unallocated corporate expenses (1) (70) (53) (110) (78) L3Harris Merger-related integration expenses (20) (37) (41) (68) Amortization of acquisition-related intangibles (2) (156) (208) (320) (353) Business divestiture-related gains (losses) 180 (49) 165 (52) Impairment of goodwill and other assets (63) (14) (125) (19) Pension adjustment (114) (98) (225) (195) Non-operating income 86 105 203 200 Interest expense, net (65) (65) (131) (128) Total income from continuing operations before income taxes $ 582 $ 336 $ 1,109 $ 557 _______________ (1) For the quarter and two quarters ended July 2, 2021, includes $46 million and $53 million, respectively, of divestiture-related expenses. For the quarter and two quarters ended July 3, 2020, includes (i) $16 million and $31 million, respectively, of additional cost of sales related to fair value step-up in inventory sold; (ii) $9 million of other divestiture-related expenses; and (iii) $7 million of restructuring charges. (2) Includes amortization of identifiable intangible assets acquired as a result of the L3Harris Merger of $131 million and $271 million for the quarter and two quarters ended July 2, 2021, respectively, and $183 million and $303 million for the quarter and two quarters ended July 3, 2020, respectively. Also includes amortization of identifiable intangible assets acquired as a result of our acquisition of Exelis Inc. of $25 million and $49 million for the quarter and two quarters ended July 2, 2021, respectively, and $25 million and $50 million for the quarter and two quarters ended July 3, 2020, respectively. Because the L3Harris Merger and the acquisition of Exelis Inc. 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 We disaggregate revenue for all four business segments by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of 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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 1,020 $ 856 $ 2,027 $ 1,807 Subcontractor 460 462 889 869 Intersegment 14 13 29 25 $ 1,494 $ 1,331 $ 2,945 $ 2,701 Revenue By Contract Type Fixed-price (1) $ 1,147 $ 997 $ 2,239 $ 2,021 Cost-reimbursable 333 321 677 655 Intersegment 14 13 29 25 $ 1,494 $ 1,331 $ 2,945 $ 2,701 Revenue By Geographical Region United States $ 1,034 $ 1,026 $ 2,054 $ 2,119 International 446 292 862 557 Intersegment 14 13 29 25 $ 1,494 $ 1,331 $ 2,945 $ 2,701 _______________ (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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 733 $ 674 $ 1,416 $ 1,333 Subcontractor 552 572 1,103 1,102 Intersegment 2 3 4 6 $ 1,287 $ 1,249 $ 2,523 $ 2,441 Revenue By Contract Type Fixed-price (1) $ 740 $ 701 $ 1,455 $ 1,370 Cost-reimbursable 545 545 1,064 1,065 Intersegment 2 3 4 6 $ 1,287 $ 1,249 $ 2,523 $ 2,441 Revenue By Geographical Region United States $ 1,102 $ 1,049 $ 2,162 $ 2,050 International 183 197 357 385 Intersegment 2 3 4 6 $ 1,287 $ 1,249 $ 2,523 $ 2,441 _______________ (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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 783 $ 748 $ 1,512 $ 1,488 Subcontractor 330 353 702 699 Intersegment 14 11 25 19 $ 1,127 $ 1,112 $ 2,239 $ 2,206 Revenue By Contract Type Fixed-price (1) $ 954 $ 945 $ 1,894 $ 1,858 Cost-reimbursable 159 156 320 329 Intersegment 14 11 25 19 $ 1,127 $ 1,112 $ 2,239 $ 2,206 Revenue By Geographical Region United States $ 786 $ 835 $ 1,618 $ 1,664 International 327 266 596 523 Intersegment 14 11 25 19 $ 1,127 $ 1,112 $ 2,239 $ 2,206 _______________ (1) 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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 520 $ 515 $ 1,056 $ 1,179 Subcontractor 270 265 530 594 Intersegment 19 20 37 38 $ 809 $ 800 $ 1,623 $ 1,811 Revenue By Contract Type Fixed-price (1) $ 641 $ 610 $ 1,280 $ 1,439 Cost-reimbursable 149 170 306 334 Intersegment 19 20 37 38 $ 809 $ 800 $ 1,623 $ 1,811 Revenue By Geographical Region United States $ 679 $ 676 $ 1,361 $ 1,408 International 111 104 225 365 Intersegment 19 20 37 38 $ 809 $ 800 $ 1,623 $ 1,811 _______________ (1) Includes revenue derived from time-and-materials contracts. Total assets by business segment are summarized below: (In millions) July 2, 2021 January 1, 2021 Total Assets Integrated Mission Systems $ 9,152 $ 8,906 Space and Airborne Systems 7,058 6,943 Communication Systems 5,871 5,746 Aviation Systems 4,042 5,026 Corporate (1) 9,941 10,339 Total Assets $ 36,064 $ 36,960 _______________ (1) Identifiable intangible assets acquired in connection with the L3Harris Merger on June 29, 2019 and our acquisition of Exelis Inc. 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 $7.0 billion and $7.9 billion at July 2, 2021 and January 1, 2021, 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 and liabilities from discontinued operations and divestitures. See Note B — Business Divestitures in these Notes for additional information.

Legal Proceedings and Contingen

Legal Proceedings and Contingencies	6 Months Ended
	Jul. 02, 2021
Legal Proceedings And Contingencies [Abstract]
Legal Proceedings and Contingencies	Note T — 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 July 2, 2021, 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, that are considered probable of being rendered against us in litigation or arbitration in existence at July 2, 2021 are reserved against or would not have a material adverse effect on our financial condition, results of operations, cash flows or equity. Environmental Matters

Significant Accounting Polici_2

Significant Accounting Policies and Recent Accounting Standards (Policies)	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements (Unaudited) include the accounts of L3Harris Technologies, Inc. and its consolidated subsidiaries. As used in these Notes to Condensed Consolidated Financial Statements (Unaudited) (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 in consolidation. The accompanying Condensed Consolidated Financial Statements (Unaudited) have been prepared by L3Harris, without an audit, in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, such interim financial statements do not include all information and footnotes necessary for a complete presentation of financial condition, results of operations, cash flows and equity in conformity with GAAP for annual financial statements. In the opinion of management, such interim financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of our financial condition, results of operations, cash flows and equity for the periods presented therein. The results for the quarter and two quarters ended July 2, 2021 are not necessarily indicative of the results that may be expected for the full fiscal year or any subsequent period. The balance sheet at January 1, 2021 has been derived from our audited financial statements, but does not include all of the information and footnotes required by GAAP for annual financial statements. We provide complete, audited financial statements in our Annual Report on Form 10-K, which includes information and footnotes required by the rules and regulations of the SEC. The information included in this Quarterly Report on Form 10-Q (this “Report”) should be read in conjunction with the Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and accompanying Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 1, 2021 (our “Fiscal 2020 Form 10-K”). Amounts contained in this Report may not always add to totals due to rounding.
Reclassifications	Reclassifications The classification of certain prior-year amounts have been adjusted in our Condensed Consolidated Financial Statements (Unaudited) to conform to current-year classifications. Reclassifications include finance lease liabilities that were previously included in the “Other accrued items” and “Other long-term liabilities” line items and are now reflected in the “Current portion of long-term debt, net” and “Long-term debt, net” line items in our Condensed Consolidated Balance Sheet (Unaudited).
Use of Estimates	Use of EstimatesThe preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the accompanying Condensed Consolidated Financial Statements (Unaudited) and these Notes and related disclosures. These estimates and assumptions are based on experience and other information available prior to issuance of the accompanying Condensed Consolidated Financial Statements (Unaudited) and these Notes. Materially different results can occur as circumstances change and additional information becomes known.
Significant Accounting Policies Update	Significant Accounting Policies UpdateThere have been no material changes to our significant accounting policies described in our Fiscal 2020 Form 10-K.
Revenue Recognition	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 associated with extended product warranties. Contract assets and liabilities are reported on a contract-by-contract basis at the end of each reporting period. 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. These variable amounts generally are 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. 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. Disaggregation of Revenue We disaggregate revenue for all four business segments by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of 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. 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. 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. 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.
Fair Value Measurements	Fair value is defined as the price that would be received for an asset or the price that would be paid to transfer a liability in the principal market or most advantageous market 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 external pricing services, 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.
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. 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 Condensed Consolidated Balance Sheet (Unaudited) at fair value. We do not hold or issue derivatives for speculative trading purposes.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 inter-segment 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 (loss). Gains and losses in AOCI 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 Condensed Consolidated Statement of Cash Flows (Unaudited) 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.Gains and losses from foreign currency derivatives designated as cash flow hedges are included in the line item in our Condensed Consolidated Statement of Income (Unaudited) associated with the hedged transaction, with the exception of any losses resulting from discontinued cash flow hedges, which are included in the “Engineering, selling and administrative expenses” line item in our Condensed Consolidated Statement of Income (Unaudited).
Business Segment Information	We structure our operations primarily around the products, systems and services we sell and the markets we serve, and we report the financial results of our continuing 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 intelligence, surveillance and reconnaissance (“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; public safety and global communications solutions; and • Aviation Systems, including defense aviation; commercial aviation products; commercial pilot training; and mission networks for air traffic management. See Note B — Business Divestitures in these Notes for information relating to the following businesses divested or classified as held for sale in fiscal 2020 and 2021: • Airport security and automation business, divested on May 4, 2020, the results of which were reported as part of our Aviation Systems segment through the date of divestiture; • Applied Kilovolts and Analytical Instrumentation business, divested on May 15, 2020, the results of which were reported as part of our Space and Airborne Systems segment through the date of divestiture; • EOTech business, divested on July 31, 2020, the results of which were reported as part of our Communication Systems segment through the date of divestiture; • Military training business, divested on July 2, 2021, the results of which were reported as part of our Aviation Systems segment through the date of divestiture; • CPS business, divested on July 2, 2021, the results of which were reported as part of our Aviation Systems segment through the date of divestiture; • VSE disposal group, definitive agreement entered into on February 23, 2021 and divestiture partially completed during the quarter ended July 2, 2021, with the remainder classified as held for sale and expected to be completed in the second half of fiscal 2021, the results of which are reported as part of our Aviation Systems segment; • Electron Devices business, definitive agreement entered into on July 2, 2021 and classified as held for sale, expected to be completed during the second half of fiscal 2021, the results of which are reported as part of our Aviation Systems segment; and • AP disposal groups, classified as held for sale during the quarter ended July 2, 2021, expected to be completed during the next twelve months, the results of which are reported as part of our Aviation Systems segment. The accounting policies of our business segments are the same as those described in Note 1: “Significant Accounting Policies” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K. 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 the table below 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” line item in the table below represents the portion of corporate expenses not allocated to our business segments and elimination of intersegment profits. The “Pension adjustment” line item in the table below 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 Condensed Consolidated Statement of Income (Unaudited). 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.

Significant Accounting Polici_3

Significant Accounting Policies and Recent Accounting Standards (Tables)	6 Months Ended
	Jul. 02, 2021
Accounting Policies [Abstract]
Schedule of L3Harris Merger-related Expenses	L3Harris Merger-related expenses for the quarter and two quarters ended July 2, 2021 and July 3, 2020 were as follows: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Additional cost of sales related to fair value step-up in inventory sold $ — $ 16 $ — $ 31 Restructuring charges — 7 — 7 Integration costs, recognized as incurred 20 37 41 68 Total L3Harris Merger-related expenses $ 20 $ 60 $ 41 $ 106

Business Divestitures (Tables)

Business Divestitures (Tables)	6 Months Ended
	Jul. 02, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities, Income (Loss) Before Taxes and Gains (Losses) of Business Divested or Held for Sale	The carrying amounts of the major classes of assets and liabilities for the businesses classified as held for sale included in our Condensed Consolidated Balance Sheet (Unaudited) at July 2, 2021 were as follows: (In millions) Electron Devices business AP disposal groups VSE disposal group Consolidated Total Receivables, net $ 25 $ 19 $ 1 $ 45 Contract assets 65 11 7 83 Inventories 17 28 1 46 Other current assets 3 2 — 5 Property, plant and equipment, net 28 15 1 44 Goodwill 15 11 — 26 Other intangible assets 60 31 5 96 Deferred taxes — 1 — 1 Other non-current assets 96 37 — 133 Assets of disposal group held for sale $ 309 $ 155 $ 15 $ 479 Accounts payable $ 14 $ 9 $ 1 24 Contract liabilities 52 2 1 55 Other accrued items 36 11 — 47 Other non-current liabilities 78 37 — 115 Deferred taxes — 2 — 2 Liabilities of disposal group held for sale $ 180 $ 61 $ 2 $ 243 The following table presents the amount of income (loss) before income taxes attributable to businesses divested or held for sale in our Condensed Consolidated Statement of Income (Unaudited): Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Electron Devices business $ 11 $ 6 $ 30 $ 15 CPS business 27 13 53 29 Military training business 18 16 35 40 Airport security and automation business — (3) — 9 The “Business divestiture-related gains (losses)” line item in our Condensed Consolidated Statement of Income (Unaudited) is comprised of the following pre-tax gains (losses) associated with businesses divested or held for sale: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 VSE disposal group (1) $ (18) $ (14) $ (26) $ (14) CPS business (2) (12) — (19) — Military training business 212 — 212 — Airport security and automation business — (23) — (26) Other (3) (2) (12) (2) (12) Total Business divestiture-related gain (losses) $ 180 $ (49) $ 165 $ (52) _______________ (1) During the quarter ended July 3, 2020, upon classifying the VSE disposal group as held for sale, we recorded a non-cash impairment charge of $14 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the quarter ended July 3, 2020. We recognized an $18 million non-cash remeasurement loss related to the VSE disposal group during the year ended January 1, 2021. (2) During the quarter ended April 2, 2021, upon classifying the CPS business as held for sale, we recorded a non-cash impairment charge of $62 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited). See Note I — Goodwill and Other Intangible Assets in these Notes for additional information.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)	6 Months Ended
	Jul. 02, 2021
Equity [Abstract]
Schedule of Components of AOCI	The components of AOCI are summarized below: (In millions) Foreign currency translation Net unrealized losses on hedging derivatives Unrecognized postretirement obligations Total AOCI Balance at January 1, 2021 $ (58) $ (80) $ (701) $ (839) Other comprehensive (loss) income, before income taxes (3) 9 (3) 3 Income taxes — (2) 1 (1) Other comprehensive (loss) income before reclassifications to earnings, net of income taxes (3) 7 (2) 2 Losses (gains) reclassified to earnings (1) 2 (8) 8 2 Income taxes — 2 (2) — Losses (gains) reclassified to earnings, net of income taxes 2 (6) 6 2 Other comprehensive (loss) income, net of income taxes (1) 1 4 4 Balance at July 2, 2021 $ (59) $ (79) $ (697) $ (835) Balance at January 3, 2020 $ (81) $ (55) $ (372) $ (508) Other comprehensive loss, before income taxes (60) (80) — (140) Income taxes — 20 — 20 Other comprehensive loss before reclassifications to earnings, net of income taxes (60) (60) — (120) Losses (gains) reclassified to earnings (1) 7 7 (10) 4 Income taxes — (2) 2 — Losses (gains) reclassified to earnings, net of income taxes 7 5 (8) 4 Other comprehensive loss, net of income taxes (53) (55) (8) (116) Balance at July 3, 2020 $ (134) $ (110) $ (380) $ (624) _______________ (1) Losses (gains) reclassified to earnings are included in the “Revenue from product sales and services,” “Business divestiture-related gains (losses),” “Interest expense, net” and “Non-operating income” line items in our Condensed Consolidated Statement of Income (Unaudited).

Receivables, net (Tables)

Receivables, net (Tables)	6 Months Ended
	Jul. 02, 2021
Receivables [Abstract]
Schedule of Receivables, Net	Receivables, net are summarized below: (In millions) July 2, 2021 January 1, 2021 Accounts receivable $ 1,227 $ 1,369 Less allowance for credit losses (30) (25) Receivables, net $ 1,197 $ 1,344

Contract Assets and Contract _2

Contract Assets and Contract Liabilities (Tables)	6 Months Ended
	Jul. 02, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Contract Liabilities	Contract assets and contract liabilities are summarized below: (In millions) July 2, 2021 January 1, 2021 Contract assets $ 2,648 $ 2,437 Contract liabilities, current (1,205) (1,198) Contract liabilities, non-current (1) (98) (73) Net contract assets $ 1,345 $ 1,166 _______________ (1) The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Condensed Consolidated Balance Sheet (Unaudited). The components of contract assets are summarized below: (In millions) July 2, 2021 January 1, 2021 Unbilled contract receivables, gross $ 4,377 $ 4,268 Unliquidated progress payments and advances (1,729) (1,831) Contract assets $ 2,648 $ 2,437

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 02, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized below: (In millions) July 2, 2021 January 1, 2021 Finished products $ 145 $ 136 Work in process 292 367 Raw materials and supplies 435 470 Total inventories $ 872 $ 973

Property, Plant, and Equipment,

Property, Plant, and Equipment, net (Tables)	6 Months Ended
	Jul. 02, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment, net are summarized below: (In millions) July 2, 2021 January 1, 2021 Land $ 81 $ 90 Software capitalized for internal use 500 417 Buildings 1,186 1,097 Machinery and equipment 2,137 2,265 3,904 3,869 Less accumulated depreciation and amortization (1,878) (1,767) Total property, plant and equipment, net $ 2,026 $ 2,102

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jul. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Business Segments	The assignment of goodwill by business segment, and changes in the carrying amount of goodwill by business segment, were as follows: (In millions) Integrated Mission Systems Space and Airborne Systems Communication Systems Aviation Systems Total Balance at January 1, 2021 $ 6,499 $ 5,232 $ 4,153 $ 2,992 $ 18,876 Goodwill decrease from divestitures (1) — — — (538) (538) Decrease from reclassification to assets of disposal group held for sale (2) — — — (26) (26) Impairment of goodwill — — — (62) (62) Currency translation adjustments 1 (13) 1 (5) (16) Balance at July 2, 2021 $ 6,500 $ 5,219 $ 4,154 $ 2,361 $ 18,234 Balance at January 3, 2020 $ 5,768 $ 5,131 $ 4,243 $ 4,859 $ 20,001 Goodwill decrease from divestitures (1) — (2) — (531) (533) Decrease from reclassification to assets of disposal group held for sale (2) — — (9) — (9) Impairment of goodwill — (5) — (364) (369) Currency translation adjustments 3 (7) (2) (5) (11) Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed) 740 124 (81) (847) (64) Balance at July 3, 2020 $ 6,511 $ 5,241 $ 4,151 $ 3,112 $ 19,015 _______________ (1) During the two quarters ended July 2, 2021, we completed the divestitures of our CPS business and military training business and derecognized $538 million of goodwill as part of determining the gain or loss on the sales of these businesses. During the two quarters ended July 3, 2020, we completed the divestitures of our airport security and automation business and our Applied Kilovolts and Analytical Instrumentation business and derecognized $533 million of goodwill as part of determining the gain or loss on the sales of these businesses. (2) During the two quarters ended July 2, 2021 and July 3, 2020, we assigned $26 million and $9 million, respectively, of goodwill associated with pending divestitures to “Assets of disposal groups held for sale” in our Condensed Consolidated Balance Sheet (Unaudited). See Note B — Business Divestitures in these Notes for additional information.
Schedule of Identifiable Intangible Assets Subject to Amortization	Identifiable intangible assets are summarized below: July 2, 2021 January 1, 2021 (In millions) Gross Accumulated Amortization Net Carrying Amount (1) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 6,207 $ 1,450 $ 4,757 $ 6,863 $ 1,257 $ 5,606 Developed technologies 603 286 317 653 261 392 Contract backlog 13 13 — 19 17 2 Trade names — divisions 108 48 60 129 45 84 Other 3 3 — 3 3 — Total identifiable intangible assets subject to amortization 6,934 1,800 5,134 7,667 1,583 6,084 In-process research and development 21 — 21 21 — 21 Trade names — corporate 1,803 — 1,803 1,803 — 1,803 Total identifiable intangible assets $ 8,758 $ 1,800 $ 6,958 $ 9,491 $ 1,583 $ 7,908 _______________ (1) During the two quarters ended July 2, 2021, we derecognized $486 million of intangible assets associated with completed divestitures and reclassified $91 million of intangible assets associated with pending divestitures to “Assets of disposal groups held for sale” in our Condensed Consolidated Balance Sheet (Unaudited). See Note B — Business Divestitures in these Notes for additional information regarding divestitures.
Schedule of Identifiable Intangible Assets Not Subject to Amortization	Identifiable intangible assets are summarized below: July 2, 2021 January 1, 2021 (In millions) Gross Accumulated Amortization Net Carrying Amount (1) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 6,207 $ 1,450 $ 4,757 $ 6,863 $ 1,257 $ 5,606 Developed technologies 603 286 317 653 261 392 Contract backlog 13 13 — 19 17 2 Trade names — divisions 108 48 60 129 45 84 Other 3 3 — 3 3 — Total identifiable intangible assets subject to amortization 6,934 1,800 5,134 7,667 1,583 6,084 In-process research and development 21 — 21 21 — 21 Trade names — corporate 1,803 — 1,803 1,803 — 1,803 Total identifiable intangible assets $ 8,758 $ 1,800 $ 6,958 $ 9,491 $ 1,583 $ 7,908 _______________ (1) During the two quarters ended July 2, 2021, we derecognized $486 million of intangible assets associated with completed divestitures and reclassified $91 million of intangible assets associated with pending divestitures to “Assets of disposal groups held for sale” in our Condensed Consolidated Balance Sheet (Unaudited). See Note B — Business Divestitures in these Notes for additional information regarding divestitures.
Schedule of Future Estimated Amortization Expense For Identifiable Intangible Assets	Future estimated amortization expense for identifiable intangible assets subject to amortization is as follows: (In millions) Year 1 $ 610 Year 2 606 Year 3 587 Year 4 543 Year 5 494 Thereafter 2,294 Total $ 5,134

Accrued Warranties (Tables)

Accrued Warranties (Tables)	6 Months Ended
	Jul. 02, 2021
Product Warranties Disclosures [Abstract]
Schedule of Accrued Warranties	Changes in our liability for standard product warranties during the two quarters ended July 2, 2021 were as follows: (In millions) Balance at January 1, 2021 $ 133 Decrease from divestitures (5) Accruals for product warranties issued during the period 22 Settlements made during the period (27) Balance at July 2, 2021 $ 123

Postretirement Benefit Plans (T

Postretirement Benefit Plans (Tables)	6 Months Ended
	Jul. 02, 2021
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	The following tables provide the components of our net periodic benefit income for our defined benefit plans, including defined benefit pension plans and other postretirement defined benefit plans: Quarter Ended July 2, 2021 Two Quarters Ended July 2, 2021 (In millions) Pension Other Benefits Pension Other Benefits Net periodic benefit income Service cost $ 18 $ — $ 36 $ 1 Interest cost 46 2 92 3 Expected return on plan assets (157) (5) (312) (10) Amortization of net actuarial loss 10 — 19 — Amortization of prior service credit (7) — (14) — Net gain from curtailments and settlements (3) — (3) — Net periodic benefit income $ (93) $ (3) $ (182) $ (6) Quarter Ended July 3, 2020 Two Quarters Ended July 3, 2020 (In millions) Pension Other Benefits Pension Other Benefits Net periodic benefit income Service cost $ 16 $ 1 $ 32 $ 1 Interest cost 68 2 137 4 Expected return on plan assets (157) (5) (315) (10) Amortization of net actuarial loss (gain) 3 (1) 5 (1) Amortization of prior service credit (7) — (14) — Contractual termination cost (1) — — 1 — Net periodic benefit income $ (77) $ (3) $ (154) $ (6) _______________ (1) For the two quarters ended July 3, 2020, includes contractual termination benefits related to facility rationalization as part of restructuring activities in connection with the L3Harris Merger integration. See Note 4: “Restructuring and Other Exit Costs” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K for further information.

Income From Continuing Operat_2

Income From Continuing Operations Per Share (Tables)	6 Months Ended
	Jul. 02, 2021
Earnings Per Share [Abstract]
Schedule of Computation Income From Continuing Operations Per Common Share	The computations of income from continuing operations per common share attributable to L3Harris common shareholders are as follows: Quarter Ended Two Quarters Ended (In millions, except per share amounts) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Income from continuing operations (A) $ 413 $ 283 $ 882 $ 501 Basic weighted average common shares outstanding (B) 203.6 215.9 205.2 216.7 Impact of dilutive share-based awards 2.0 1.9 1.9 2.0 Diluted weighted average common shares outstanding (C) 205.6 217.8 207.1 218.7 Income from continuing operations per basic common share (A)/(B) $ 2.03 $ 1.31 $ 4.29 $ 2.31 Income from continuing operations per diluted common share (A)/(C) $ 2.01 $ 1.30 $ 4.26 $ 2.29

Non-Operating Income (Tables)

Non-Operating Income (Tables)	6 Months Ended
	Jul. 02, 2021
Nonoperating Income (Expense) [Abstract]
Schedule of Components of Non-Operating Income	The components of non-operating income were as follows: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Pension adjustment (1) $ 114 $ 98 $ 225 $ 195 Impairment of equity method investment (35) — (35) — Other 7 7 13 5 Total non-operating income $ 86 $ 105 $ 203 $ 200 ______________

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 02, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents assets and liabilities measured at fair value on a recurring basis (at least annually) at July 2, 2021 and January 1, 2021: July 2, 2021 January 1, 2021 (In millions) Total Level 1 Level 2 Total Level 1 Level 2 Assets Deferred compensation plan assets: (1) Equity and fixed-income securities $ 73 $ 73 $ — $ 67 $ 67 $ — Investments measured at NAV: Corporate-owned life insurance 33 31 Total fair value of deferred compensation plan assets $ 106 $ 73 $ — $ 98 $ 67 $ — Derivatives (foreign currency forward contracts) $ 18 $ — $ 18 $ 24 $ — $ 24 Liabilities Deferred compensation plan liabilities: (2) Equity securities and mutual funds $ 5 $ 5 $ — $ 4 $ 4 $ — Investments measured at NAV: Common/collective trusts and guaranteed investment contracts 141 116 Total fair value of deferred compensation plan liabilities $ 146 $ 5 $ — $ 120 $ 4 $ — Derivatives (foreign currency forward contracts) $ 3 $ — $ 3 $ 4 $ — $ 4 _______________ (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 Condensed Consolidated Balance Sheet (Unaudited) and which are measured at fair value. (2) 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 Condensed Consolidated Balance Sheet (Unaudited). 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 Carrying Amounts and Estimated Fair Values of Financial Instruments Not Measured at Fair Value	The following table presents the carrying amounts and estimated fair values of our significant financial instruments that were not measured at fair value (carrying amounts of other financial instruments not listed in the table below approximate fair value due to the short-term nature of those items): July 2, 2021 January 1, 2021 (In millions) Carrying Fair Carrying Fair Long-term debt (including current portion) (1) $ 7,072 $ 7,872 $ 6,953 $ 7,986 _______________ (1) 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.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jul. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of Derivative Instruments in Condensed Consolidated Balance Sheets	The table below presents the fair values of our derivatives designated as foreign currency hedging instruments in our Condensed Consolidated Balance Sheet (Unaudited) at July 2, 2021 and January 1, 2021. (In millions) July 2, 2021 January 1, 2021 Derivatives designated as hedging instruments: Foreign currency forward contracts (1) Other current assets $ 15 $ 21 Other non-current assets 3 3 Other accrued items 3 4 _______________ (1) See Note O — Fair Value Measurements in these Notes for a description of the fair value hierarchy related to our foreign currency forward contracts.

Changes in Estimates (Tables)

Changes in Estimates (Tables)	6 Months Ended
	Jul. 02, 2021
Change in Accounting Estimate [Abstract]
Schedule of Effect of Net Estimate at Completion Adjustment ("EAC") on Consolidated Statement of Income	Net EAC adjustments had the following impact to earnings for the periods presented: Quarter Ended Two Quarters Ended (In millions, except per share amounts) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Net EAC adjustments, before income taxes $ 80 $ 98 $ 162 $ 201 Net EAC adjustments, net of income taxes $ 60 $ 73 $ 122 $ 151 Net EAC adjustments, net of income taxes, per diluted common share $ 0.29 $ 0.34 $ 0.59 $ 0.69

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jul. 02, 2021
Segment Reporting [Abstract]
Schedule of Revenue and Reconciliation of Income From Continuing Operations Before Taxes by Segment	Segment revenue, segment operating income (loss) and a reconciliation of segment operating income to total income from continuing operations before income taxes are as follows: Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue Integrated Mission Systems $ 1,494 $ 1,331 $ 2,945 $ 2,701 Space and Airborne Systems 1,287 1,249 2,523 2,441 Communication Systems 1,127 1,112 2,239 2,206 Aviation Systems 809 800 1,623 1,811 Corporate eliminations (49) (47) (95) (88) Total revenue $ 4,668 $ 4,445 $ 9,235 $ 9,071 Income From Continuing Operations Before Income Taxes Segment Operating Income (Loss): Integrated Mission Systems $ 229 $ 224 $ 469 $ 425 Space and Airborne Systems 253 235 493 456 Communication Systems 287 265 568 515 Aviation Systems 35 31 163 (146) Other unallocated corporate expenses (1) (70) (53) (110) (78) L3Harris Merger-related integration expenses (20) (37) (41) (68) Amortization of acquisition-related intangibles (2) (156) (208) (320) (353) Business divestiture-related gains (losses) 180 (49) 165 (52) Impairment of goodwill and other assets (63) (14) (125) (19) Pension adjustment (114) (98) (225) (195) Non-operating income 86 105 203 200 Interest expense, net (65) (65) (131) (128) Total income from continuing operations before income taxes $ 582 $ 336 $ 1,109 $ 557 _______________ (1) For the quarter and two quarters ended July 2, 2021, includes $46 million and $53 million, respectively, of divestiture-related expenses. For the quarter and two quarters ended July 3, 2020, includes (i) $16 million and $31 million, respectively, of additional cost of sales related to fair value step-up in inventory sold; (ii) $9 million of other divestiture-related expenses; and (iii) $7 million of restructuring charges. (2) Includes amortization of identifiable intangible assets acquired as a result of the L3Harris Merger of $131 million and $271 million for the quarter and two quarters ended July 2, 2021, respectively, and $183 million and $303 million for the quarter and two quarters ended July 3, 2020, respectively. Also includes amortization of identifiable intangible assets acquired as a result of our acquisition of Exelis Inc. of $25 million and $49 million for the quarter and two quarters ended July 2, 2021, respectively, and $25 million and $50 million for the quarter and two quarters ended July 3, 2020, respectively. Because the L3Harris Merger and the acquisition of Exelis Inc. 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	Disaggregation of Revenue We disaggregate revenue for all four business segments by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of 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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 1,020 $ 856 $ 2,027 $ 1,807 Subcontractor 460 462 889 869 Intersegment 14 13 29 25 $ 1,494 $ 1,331 $ 2,945 $ 2,701 Revenue By Contract Type Fixed-price (1) $ 1,147 $ 997 $ 2,239 $ 2,021 Cost-reimbursable 333 321 677 655 Intersegment 14 13 29 25 $ 1,494 $ 1,331 $ 2,945 $ 2,701 Revenue By Geographical Region United States $ 1,034 $ 1,026 $ 2,054 $ 2,119 International 446 292 862 557 Intersegment 14 13 29 25 $ 1,494 $ 1,331 $ 2,945 $ 2,701 _______________ (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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 733 $ 674 $ 1,416 $ 1,333 Subcontractor 552 572 1,103 1,102 Intersegment 2 3 4 6 $ 1,287 $ 1,249 $ 2,523 $ 2,441 Revenue By Contract Type Fixed-price (1) $ 740 $ 701 $ 1,455 $ 1,370 Cost-reimbursable 545 545 1,064 1,065 Intersegment 2 3 4 6 $ 1,287 $ 1,249 $ 2,523 $ 2,441 Revenue By Geographical Region United States $ 1,102 $ 1,049 $ 2,162 $ 2,050 International 183 197 357 385 Intersegment 2 3 4 6 $ 1,287 $ 1,249 $ 2,523 $ 2,441 _______________ (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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 783 $ 748 $ 1,512 $ 1,488 Subcontractor 330 353 702 699 Intersegment 14 11 25 19 $ 1,127 $ 1,112 $ 2,239 $ 2,206 Revenue By Contract Type Fixed-price (1) $ 954 $ 945 $ 1,894 $ 1,858 Cost-reimbursable 159 156 320 329 Intersegment 14 11 25 19 $ 1,127 $ 1,112 $ 2,239 $ 2,206 Revenue By Geographical Region United States $ 786 $ 835 $ 1,618 $ 1,664 International 327 266 596 523 Intersegment 14 11 25 19 $ 1,127 $ 1,112 $ 2,239 $ 2,206 _______________ (1) 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. Quarter Ended Two Quarters Ended (In millions) July 2, 2021 July 3, 2020 July 2, 2021 July 3, 2020 Revenue By Customer Relationship Prime contractor $ 520 $ 515 $ 1,056 $ 1,179 Subcontractor 270 265 530 594 Intersegment 19 20 37 38 $ 809 $ 800 $ 1,623 $ 1,811 Revenue By Contract Type Fixed-price (1) $ 641 $ 610 $ 1,280 $ 1,439 Cost-reimbursable 149 170 306 334 Intersegment 19 20 37 38 $ 809 $ 800 $ 1,623 $ 1,811 Revenue By Geographical Region United States $ 679 $ 676 $ 1,361 $ 1,408 International 111 104 225 365 Intersegment 19 20 37 38 $ 809 $ 800 $ 1,623 $ 1,811 _______________ (1) Includes revenue derived from time-and-materials contracts.
Schedule of Total Assets by Business Segment	Total assets by business segment are summarized below: (In millions) July 2, 2021 January 1, 2021 Total Assets Integrated Mission Systems $ 9,152 $ 8,906 Space and Airborne Systems 7,058 6,943 Communication Systems 5,871 5,746 Aviation Systems 4,042 5,026 Corporate (1) 9,941 10,339 Total Assets $ 36,064 $ 36,960 _______________ (1) Identifiable intangible assets acquired in connection with the L3Harris Merger on June 29, 2019 and our acquisition of Exelis Inc. 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 $7.0 billion and $7.9 billion at July 2, 2021 and January 1, 2021, 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 and liabilities from discontinued operations and divestitures. See Note B — Business Divestitures in these Notes for additional information.

Significant Accounting Polici_4

Significant Accounting Policies and Recent Accounting Standards - L3Harris Merger-related Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Business Acquisition [Line Items]
Integration costs, recognized as incurred	$ 20	$ 37	$ 41	$ 68
L3Harris
Business Acquisition [Line Items]
Additional cost of sales related to fair value step-up in inventory sold	0	16	0	31
Restructuring charges	0	7	0	7
Integration costs, recognized as incurred	20	37	41	68
Total L3Harris Merger-related expenses	$ 20	$ 60	$ 41	$ 106

Significant Accounting Polici_5

Significant Accounting Policies and Recent Accounting Standards - Narrative (Details) $ in Millions	6 Months Ended
	Jul. 02, 2021USD ($)
Accounting Policies [Abstract]
Right-of-use assets obtained in exchange for finance lease liabilities	$ 120

Business Divestitures - Narrati

Business Divestitures - Narrative (Details) $ in Millions	Jul. 02, 2021USD ($)business	Jul. 31, 2020USD ($)	May 15, 2020USD ($)	May 04, 2020USD ($)	Jul. 02, 2021USD ($)business	Apr. 02, 2021USD ($)	Jul. 03, 2020USD ($)	Apr. 03, 2020USD ($)	Jul. 02, 2021USD ($)business	Jul. 03, 2020USD ($)	Jan. 01, 2021USD ($)	Feb. 23, 2021USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business, after selling costs and estimated price adjustments									$ 4	$ 0
Pre-tax loss recognized to reduce fair value of assets of disposal group					$ 63		$ 14		125	19
Non-cash goodwill impairment charge									62	369
Business divestiture-related gains (losses)					180		(49)		165	(52)
Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge									62	364
Communication Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge									0	0
Space and Airborne Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge									0	5
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill assigned to disposal group	$ 26				26				26
Assets of disposal group held for sale	479				479				479
Liabilities of disposal group held for sale	243				243				243
Held-for-sale | Electron Devices business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill assigned to disposal group	15				15				15
Assets of disposal group held for sale	309				309				309
Liabilities of disposal group held for sale	180				180				180
Held-for-sale | Electron Devices business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of business	185				185				185
Held-for-sale | Aerospace disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill assigned to disposal group	11				11				11
Assets of disposal group held for sale	155				155				155
Liabilities of disposal group held for sale	$ 61				$ 61				$ 61
Held-for-sale | Aerospace disposal group | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses classified as held-for-sale | business	2				2				2
Held-for-sale | VSE disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill assigned to disposal group	$ 0				$ 0		14		$ 0	14
Business divestiture-related gains (losses)							18
Assets of disposal group held for sale	15				15				15
Liabilities of disposal group held for sale	2				2				2
Held-for-sale | VSE disposal group | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill assigned to disposal group							14			14
Non-cash goodwill impairment charge							14				$ 14
Held-for-sale | VSE disposal group | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax loss recognized to reduce fair value of assets of disposal group											32
Non-cash remeasurement loss recognized on remaining assets of disposal group											18
Assets of disposal group held for sale											35
Liabilities of disposal group held for sale											$ 13
Held-for-sale | CPS business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge						$ 62
Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business divestiture-related gains (losses)					180		(49)		165	(52)
Held-for-sale or Disposed of by Sale | VSE disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business divestiture-related gains (losses)					(18)		(14)		(26)	(14)
Held-for-sale or Disposed of by Sale | VSE disposal group | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of business												$ 20
Held-for-sale or Disposed of by Sale | CPS business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business divestiture-related gains (losses)					(12)		0		(19)	0
Held-for-sale or Disposed of by Sale | Military training business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business divestiture-related gains (losses)					212		0		212	0
Held-for-sale or Disposed of by Sale | Airport security and automation business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business divestiture-related gains (losses)					0		$ (23)		0	$ (26)
Disposed of by Sale | VSE disposal group | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business, after selling costs and estimated price adjustments	2
Disposed of by Sale | CPS business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill assigned to disposal group						$ 174
Disposed of by Sale | CPS business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of business	398				398				398
Net cash proceeds from sale of business, after selling costs and estimated price adjustments	347
Accrued selling costs	6				6				6
Disposed of by Sale | Military training business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of business	1,050				1,050				1,050
Net cash proceeds from sale of business, after selling costs and estimated price adjustments	1,057
Accrued selling costs	$ 17				$ 17				$ 17
Disposed of by Sale | EOTech Business | Communication Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of business		$ 42
Net cash proceeds from sale of business, after selling costs and estimated price adjustments		$ 40
Disposed of by Sale | Applied Kilovolts and Analytical Instrumentation business | Space and Airborne Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge								$ 5
Disposed of by Sale | Applied Kilovolts and Analytical Instrumentation business | Space and Airborne Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business, after selling costs and estimated price adjustments			$ 12
Disposed of by Sale | Airport security and automation business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of business				$ 1,000
Net cash proceeds from sale of business, after selling costs and estimated price adjustments				$ 987

Business Divestitures - Assets

Business Divestitures - Assets and Liabilities Classified as Held For Sale (Details) - Held-for-sale - USD ($) $ in Millions	Jul. 02, 2021	Jul. 03, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, net	$ 45
Contract assets	83
Inventories	46
Other current assets	5
Property, plant and equipment, net	44
Goodwill	26
Other intangible assets	96
Deferred taxes	1
Other non-current assets	133
Assets of disposal group held for sale	479
Accounts payable	24
Contract liabilities	55
Other accrued items	47
Other non-current liabilities	115
Deferred taxes	2
Liabilities of disposal group held for sale	243
Electron Devices business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, net	25
Contract assets	65
Inventories	17
Other current assets	3
Property, plant and equipment, net	28
Goodwill	15
Other intangible assets	60
Deferred taxes	0
Other non-current assets	96
Assets of disposal group held for sale	309
Accounts payable	14
Contract liabilities	52
Other accrued items	36
Other non-current liabilities	78
Deferred taxes	0
Liabilities of disposal group held for sale	180
AP disposal groups
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, net	19
Contract assets	11
Inventories	28
Other current assets	2
Property, plant and equipment, net	15
Goodwill	11
Other intangible assets	31
Deferred taxes	1
Other non-current assets	37
Assets of disposal group held for sale	155
Accounts payable	9
Contract liabilities	2
Other accrued items	11
Other non-current liabilities	37
Deferred taxes	2
Liabilities of disposal group held for sale	61
VSE disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, net	1
Contract assets	7
Inventories	1
Other current assets	0
Property, plant and equipment, net	1
Goodwill	0	$ 14
Other intangible assets	5
Deferred taxes	0
Other non-current assets	0
Assets of disposal group held for sale	15
Accounts payable	1
Contract liabilities	1
Other accrued items	0
Other non-current liabilities	0
Deferred taxes	0
Liabilities of disposal group held for sale	$ 2

Business Divestitures - Income

Business Divestitures - Income (Loss) Before Income Taxes of Held for Sale or Divested Businesses (Details) - Held-for-sale or Disposed of by Sale - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Electron Devices business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) before income taxes of disposal group	$ 11	$ 6	$ 30	$ 15
CPS business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) before income taxes of disposal group	27	13	53	29
Military training business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) before income taxes of disposal group	18	16	35	40
Airport security and automation business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) before income taxes of disposal group	$ 0	$ (3)	$ 0	$ 9

Business Divestitures - Pre-tax

Business Divestitures - Pre-tax Business Divestiture-related Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 02, 2021	Apr. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020	Jan. 01, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	$ 180		$ (49)	$ 165	$ (52)
Non-cash goodwill impairment charge				62	369
Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	180		(49)	165	(52)
Held-for-sale or Disposed of by Sale | VSE disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	(18)		(14)	(26)	(14)
Held-for-sale or Disposed of by Sale | CPS business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	(12)		0	(19)	0
Held-for-sale or Disposed of by Sale | Military training business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	212		0	212	0
Held-for-sale or Disposed of by Sale | Airport security and automation business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	0		(23)	0	(26)
Held-for-sale or Disposed of by Sale | Other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)	$ (2)		(12)	$ (2)	$ (12)
Held-for-sale | VSE disposal group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Business divestiture-related gain (losses)			18
Held-for-sale | VSE disposal group | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge			$ 14			$ 14
Held-for-sale | CPS business | Aviation Systems
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash goodwill impairment charge		$ 62
Disposed of by Sale | Other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash working capital adjustment						$ 12

Stock Options and Other Share_2

Stock Options and Other Share-Based Compensation (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021USD ($)planshares	Jul. 03, 2020USD ($)	Jul. 02, 2021USD ($)planshares	Jul. 03, 2020USD ($)shares
SIPs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shareholder approved employee stock incentive plans | plan	2		2
L3Harris SIPs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs related to share-based awards | $	$ 34	$ 24	$ 67	$ 40
Common stock issued, net of shares withheld for tax purposes (in shares)	400,000		500,000	500,000
Stock options granted (in shares)	0		500,000
L3Harris SIPs | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	100,000		200,000
L3Harris SIPs | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	0		200,000
L3Harris SIPs | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield			1.99%
Expected volatility			31.71%
Risk free interest rates			0.75%
Expected term			5 years 18 days

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 20,482	$ 22,027	$ 20,841	$ 22,744
Other comprehensive (loss) income, before income taxes			3	(140)
Income taxes			(1)	20
Other comprehensive income (loss) recognized during the period	15	21	2	(120)
Losses (gains) reclassified to earnings			2	4
Income taxes			0	0
Losses (gains) reclassified to earnings, net of income taxes	4	6	2	4
Other comprehensive income (loss), net of income taxes	19	27	4	(116)
Ending balance	19,976	22,226	19,976	22,226
Foreign currency translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(58)	(81)
Other comprehensive (loss) income, before income taxes			(3)	(60)
Income taxes			0	0
Other comprehensive income (loss) recognized during the period			(3)	(60)
Losses (gains) reclassified to earnings			2	7
Income taxes			0	0
Losses (gains) reclassified to earnings, net of income taxes			2	7
Other comprehensive income (loss), net of income taxes			(1)	(53)
Ending balance	(59)	(134)	(59)	(134)
Net unrealized losses on hedging derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(80)	(55)
Other comprehensive (loss) income, before income taxes			9	(80)
Income taxes			(2)	20
Other comprehensive income (loss) recognized during the period			7	(60)
Losses (gains) reclassified to earnings			(8)	7
Income taxes			2	(2)
Losses (gains) reclassified to earnings, net of income taxes			(6)	5
Other comprehensive income (loss), net of income taxes			1	(55)
Ending balance	(79)	(110)	(79)	(110)
Unrecognized postretirement obligations
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(701)	(372)
Other comprehensive (loss) income, before income taxes			(3)	0
Income taxes			1	0
Other comprehensive income (loss) recognized during the period			(2)	0
Losses (gains) reclassified to earnings			8	(10)
Income taxes			(2)	2
Losses (gains) reclassified to earnings, net of income taxes			6	(8)
Other comprehensive income (loss), net of income taxes			4	(8)
Ending balance	(697)	(380)	(697)	(380)
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(854)	(651)	(839)	(508)
Other comprehensive income (loss), net of income taxes	19	27	4	(116)
Ending balance	$ (835)	$ (624)	$ (835)	$ (624)

Receivables, net (Details)

Receivables, net (Details) - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Receivables [Abstract]
Accounts receivable	$ 1,227	$ 1,369
Less allowance for credit losses	(30)	(25)
Receivables, net	$ 1,197	$ 1,344

Receivables, net - Narrative (D

Receivables, net - Narrative (Details)	Jul. 02, 2021USD ($)receivableSaleAgreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of receivables sales agreements | receivableSaleAgreement	2
RSA One
Accounts, Notes, Loans and Financing Receivable [Line Items]
Authorized amount of accounts receivables outstanding under agreement	$ 100,000,000
RSA Two
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	Jul. 02, 2021	Jan. 01, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 2,648	$ 2,437
Contract liabilities, current	(1,205)	(1,198)
Contract liabilities, non-current	(98)	(73)
Net contract assets	1,345	1,166
Components of Contract Assets:
Unbilled contract receivables, gross	4,377	4,268
Unliquidated progress payments and advances	(1,729)	(1,831)
Contract assets	$ 2,648	$ 2,437

Contract Assets and Contract _4

Contract Assets and Contract Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020	Jan. 01, 2021
Revenue from Contract with Customer [Abstract]
U.S. Government's progress payment rate	90.00%		90.00%		80.00%
Recognized sales on contract liabilities	$ 219	$ 301	$ 727	$ 785

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Inventory Disclosure [Abstract]
Finished products	$ 145	$ 136
Work in process	292	367
Raw materials and supplies	435	470
Inventories	$ 872	$ 973

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Details) - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Property, Plant and Equipment
Land	$ 81	$ 90
Software capitalized for internal use	500	417
Buildings	1,186	1,097
Machinery and equipment	2,137	2,265
Property, plant and equipment, gross	3,904	3,869
Less accumulated depreciation and amortization	(1,878)	(1,767)
Total property, plant and equipment, net	$ 2,026	$ 2,102

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense related to property, plant and equipment	$ 80	$ 78	$ 164	$ 154
CTS
Property, Plant and Equipment [Line Items]
Non-cash impairment charges for long-lived assets	82		82
Impairment of right of use assets	19		19
Impairment of property, plant and equipment	56		56
Impairment of equipment and software	$ 7		$ 7

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill by Business Segment (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jan. 01, 2021
Changes in the carrying amount of goodwill
Beginning Balance	$ 18,876	$ 20,001	$ 20,001
Goodwill decrease from divestitures	(538)	(533)
Decrease from reclassification to assets of disposal group held for sale	(26)	(9)
Impairment of goodwill	62	369
Currency translation adjustments	(16)	(11)
Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed)		(64)
Ending Balance	18,234	19,015	18,876
Disposed of by Sale | CPS and Military Training Businesses
Changes in the carrying amount of goodwill
Goodwill decrease from divestitures	(538)
Disposed of by Sale | Applied Kilovolts and Analytical Instrumentation business
Changes in the carrying amount of goodwill
Goodwill decrease from divestitures		(533)
Held-for-sale
Changes in the carrying amount of goodwill
Decrease from reclassification to assets of disposal group held for sale	(26)	(9)
Integrated Mission Systems
Changes in the carrying amount of goodwill
Beginning Balance	6,499	5,768	5,768
Goodwill decrease from divestitures	0	0
Decrease from reclassification to assets of disposal group held for sale	0	0
Impairment of goodwill	0	0
Currency translation adjustments	1	3
Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed)		740
Ending Balance	6,500	6,511	6,499
Space and Airborne Systems
Changes in the carrying amount of goodwill
Beginning Balance	5,232	5,131	5,131
Goodwill decrease from divestitures	0	(2)
Decrease from reclassification to assets of disposal group held for sale	0	0
Impairment of goodwill	0	5
Currency translation adjustments	(13)	(7)
Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed)		124
Ending Balance	5,219	5,241	5,232
Communication Systems
Changes in the carrying amount of goodwill
Beginning Balance	4,153	4,243	4,243
Goodwill decrease from divestitures	0	0
Decrease from reclassification to assets of disposal group held for sale	0	(9)
Impairment of goodwill	0	0
Currency translation adjustments	1	(2)
Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed)		(81)
Ending Balance	4,154	4,151	4,153
Aviation Systems
Changes in the carrying amount of goodwill
Beginning Balance	2,992	4,859	4,859
Goodwill decrease from divestitures	(538)	(531)
Decrease from reclassification to assets of disposal group held for sale	(26)	0
Impairment of goodwill	62	364
Currency translation adjustments	(5)	(5)
Other (including adjustments to previously estimated fair value of assets acquired and liabilities assumed)		(847)
Ending Balance	$ 2,361	$ 3,112	$ 2,992

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jul. 02, 2021	Apr. 02, 2021	Jul. 03, 2020	Apr. 03, 2020	Jul. 02, 2021	Jul. 03, 2020	Jan. 01, 2021
Finite-Lived Intangible Assets [Line Items]
Non-cash goodwill impairment charge					$ 62,000,000	$ 369,000,000
Amortization expense for intangible assets	$ 156,000,000		$ 209,000,000		320,000,000	367,000,000
Aviation Systems
Finite-Lived Intangible Assets [Line Items]
Non-cash goodwill impairment charge					62,000,000	364,000,000
Commercial Aviation Solutions | COVID-19
Finite-Lived Intangible Assets [Line Items]
Non-cash goodwill impairment charge			54,000,000	$ 296,000,000
Non-cash goodwill impairment charge attributable to noncontrolling interests			8,000,000	$ 28,000,000
CTS
Finite-Lived Intangible Assets [Line Items]
Non-cash goodwill impairment charge					0
Non-cash impairment charge of asset group	56,000,000				56,000,000
Non-cash impairment charge of intangible assets	7,000,000				7,000,000
CTS | Aviation Systems
Finite-Lived Intangible Assets [Line Items]
Non-cash impairment charge of asset group	145,000,000
Non-cash impairment charge of intangible assets	63,000,000
Held-for-sale
Finite-Lived Intangible Assets [Line Items]
Goodwill assigned to disposal group	26,000,000				26,000,000
CPS business | Disposed of by Sale | Aviation Systems
Finite-Lived Intangible Assets [Line Items]
Goodwill assigned to disposal group		$ 174,000,000
CPS business | Held-for-sale | Aviation Systems
Finite-Lived Intangible Assets [Line Items]
Non-cash goodwill impairment charge		$ 62,000,000
VSE disposal group | Held-for-sale
Finite-Lived Intangible Assets [Line Items]
Goodwill assigned to disposal group	$ 0		14,000,000		$ 0	14,000,000
VSE disposal group | Held-for-sale | Aviation Systems
Finite-Lived Intangible Assets [Line Items]
Goodwill assigned to disposal group			14,000,000			$ 14,000,000
Non-cash goodwill impairment charge			$ 14,000,000				$ 14,000,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Intangibles Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 02, 2021	Jan. 01, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,934	$ 7,667
Accumulated Amortization	1,800	1,583
Net Carrying Amount	5,134	6,084
Total intangibles assets, Gross Carrying Amount	8,758	9,491
Total identifiable intangible assets	6,958	7,908
Disposed of by Sale
Finite-Lived Intangible Assets [Line Items]
Intangible assets derecognized associated with completed divestitures	486
Held-for-sale
Finite-Lived Intangible Assets [Line Items]
Intangible assets derecognized associated with completed divestitures	91
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangibles	21	21
Trade names — corporate
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangibles	1,803	1,803
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,207	6,863
Accumulated Amortization	1,450	1,257
Net Carrying Amount	4,757	5,606
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	603	653
Accumulated Amortization	286	261
Net Carrying Amount	317	392
Contract backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	13	19
Accumulated Amortization	13	17
Net Carrying Amount	0	2
Trade names — corporate
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	108	129
Accumulated Amortization	48	45
Net Carrying Amount	60	84
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3	3
Accumulated Amortization	3	3
Net Carrying Amount	$ 0	$ 0

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense of Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Year 1	$ 610
Year 2	606
Year 3	587
Year 4	543
Year 5	494
Thereafter	2,294
Net Carrying Amount	$ 5,134	$ 6,084

Accrued Warranties (Details)

Accrued Warranties (Details) $ in Millions	6 Months Ended
	Jul. 02, 2021USD ($)
Changes in product warranty liability
Balance at January 1, 2021	$ 133
Decrease from divestitures	(5)
Accruals for product warranties issued during the period	22
Settlements made during the period	(27)
Balance at July 2, 2021	$ 123

Postretirement Benefit Plans -

Postretirement Benefit Plans - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Pension
Net periodic benefit income
Service cost	$ 18	$ 16	$ 36	$ 32
Interest cost	46	68	92	137
Expected return on plan assets	(157)	(157)	(312)	(315)
Amortization of net actuarial loss	10	3	19	5
Amortization of prior service credit	(7)	(7)	(14)	(14)
Net gain from curtailments and settlements	(3)		(3)
Contractual termination cost		0		1
Net periodic benefit income	(93)	(77)	(182)	(154)
Other Benefits
Net periodic benefit income
Service cost	0	1	1	1
Interest cost	2	2	3	4
Expected return on plan assets	(5)	(5)	(10)	(10)
Amortization of net actuarial loss	0	(1)	0	(1)
Amortization of prior service credit	0	0	0	0
Net gain from curtailments and settlements	0		0
Contractual termination cost		0		0
Net periodic benefit income	$ (3)	$ (3)	$ (6)	$ (6)

Postretirement Benefit Plans _2

Postretirement Benefit Plans - Narrative (Details) - Pension	3 Months Ended
	Jul. 02, 2021USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension plan assets transferred to annuity	$ 169,000,000
Reduction in defined benefit obligations due to transfer of plan assets to annuity	169,000,000
Pre-tax settlement gain on pension plan assets transferred to annuity	3,000,000
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Required employer contributions during the remainder of 2021 and thereafter	$ 0

Income From Continuing Operat_3

Income From Continuing Operations Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Earnings Per Share [Abstract]
Income from continuing operations (A)	$ 413	$ 283	$ 882	$ 501
Basic weighted average common shares outstanding (in shares) (B)	203.6	215.9	205.2	216.7
Impact of dilutive share-based awards (in shares)	2	1.9	1.9	2
Diluted weighted average common shares outstanding (in shares) (C)	205.6	217.8	207.1	218.7
Income from continuing operations per basic common share (in dollars per share) (A)/(B)	$ 2.03	$ 1.31	$ 4.29	$ 2.31
Income from continuing operations per diluted common share (in dollars per share) (A)/(C)	$ 2.01	$ 1.30	$ 4.26	$ 2.29
Weighted average anti-dilutive share-based awards outstanding (in shares)	1.7	1.5	1.6	1.2

Non-Operating Income (Details)

Non-Operating Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Nonoperating Income (Expense) [Abstract]
Pension adjustment	$ 114	$ 98	$ 225	$ 195
Impairment of equity method investment	(35)	0	(35)	0
Other	7	7	13	5
Non-operating income	$ 86	$ 105	$ 203	$ 200

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	29.00%	17.30%	20.60%	15.10%

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Fair value - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Assets
Deferred compensation plan assets	$ 106	$ 98
Derivatives (foreign currency forward contracts)	18	24
Liabilities
Deferred compensation plan liabilities	146	120
Derivatives (foreign currency forward contracts)	3	4
Equity securities and mutual funds
Liabilities
Deferred compensation plan liabilities	5	4
Equity and fixed-income securities
Assets
Deferred compensation plan assets	73	67
Level 1
Assets
Deferred compensation plan assets	73	67
Derivatives (foreign currency forward contracts)	0	0
Liabilities
Deferred compensation plan liabilities	5	4
Derivatives (foreign currency forward contracts)	0	0
Level 1 | Equity securities and mutual funds
Liabilities
Deferred compensation plan liabilities	5	4
Level 1 | Equity and fixed-income securities
Assets
Deferred compensation plan assets	73	67
Level 2
Assets
Deferred compensation plan assets	0	0
Derivatives (foreign currency forward contracts)	18	24
Liabilities
Deferred compensation plan liabilities	0	0
Derivatives (foreign currency forward contracts)	3	4
Level 2 | Equity securities and mutual funds
Liabilities
Deferred compensation plan liabilities	0	0
Level 2 | Equity and fixed-income securities
Assets
Deferred compensation plan assets	0	0
Investments measured at NAV | Common/collective trusts and guaranteed investment contracts
Liabilities
Deferred compensation plan liabilities	141	116
Investments measured at NAV | Corporate-owned life insurance
Assets
Deferred compensation plan assets	$ 33	$ 31

Fair Value Measurements - Signi

Fair Value Measurements - Significant Financial Instruments Not Measured at Fair Value (Details) - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt (including current portion)	$ 7,072	$ 6,953
Fair Value | Level 2 | Market approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt (including current portion)	$ 7,872	$ 7,986

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020	Jan. 01, 2021
Derivative [Line Items]
Net gains reclassified from AOCI into earnings from derivatives designated as cash flow hedges	$ 8
Cash flow hedges | Foreign currency forward contracts
Derivative [Line Items]
Derivative outstanding	611		$ 611		$ 488
Net unrealized gains (losses) recognized in other comprehensive income from derivatives designated as cash flow hedges	4	$ 10	9	$ (6)
Net gains reclassified from AOCI into earnings from derivatives designated as cash flow hedges			$ 15
Estimated amount of existing gains to be reclassified into earnings within the next twelve months	$ 14

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheet (Details) - Derivatives designated as hedging instruments - Foreign currency forward contracts - Cash flow hedges - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	$ 15	$ 21
Other non-current assets
Derivatives, Fair Value [Line Items]
Derivative asset	3	3
Other accrued items
Derivatives, Fair Value [Line Items]
Derivative liability	$ 3	$ 4

Changes in Estimates (Details)

Changes in Estimates (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Change in Accounting Estimate [Line Items]
Revenue recognized from performance obligations satisfied in prior periods	$ 107	$ 102	$ 215	$ 238
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate [Line Items]
Net EAC adjustments, before income taxes	80	98	162	201
Net EAC adjustments, net of income taxes	$ 60	$ 73	$ 122	$ 151
Net EAC adjustments, net of income taxes, per diluted common share (in dollars per share)	$ 0.29	$ 0.34	$ 0.59	$ 0.69

Backlog (Details)

Backlog (Details) - USD ($) $ in Billions	Jul. 02, 2021	Jan. 01, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog		$ 21.7
Disposed of by Sale
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog		$ 1.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog	$ 20.2
Revenue performance obligation percentage	66.00%
Revenue performance obligation expected timing of satisfaction period	1 year 6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation percentage	12.00%
Revenue performance obligation expected timing of satisfaction period	1 year

Business Segment Information -

Business Segment Information - Narrative (Details)	6 Months Ended
	Jul. 02, 2021segment
Segment Reporting [Abstract]
Number of operating segments	4
Number of reportable segments	4

Business Segment Information _2

Business Segment Information - Revenues and Income From Continuing Operations by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Segment Reporting Information [Line Items]
Revenue	$ 4,668	$ 4,445	$ 9,235	$ 9,071
Income From Continuing Operations Before Income Taxes
L3Harris Merger-related integration expenses	(20)	(37)	(41)	(68)
Amortization of acquisition-related intangibles	(156)	(208)	(320)	(353)
Business divestiture-related gains (losses)	180	(49)	165	(52)
Impairment of goodwill and other assets	(63)	(14)	(125)	(19)
Pension adjustment	(114)	(98)	(225)	(195)
Non-operating income	86	105	203	200
Interest expense, net	(65)	(65)	(131)	(128)
Income from continuing operations before income taxes	582	336	1,109	557
L3Harris
Income From Continuing Operations Before Income Taxes
L3Harris Merger-related integration expenses	(20)	(37)	(41)	(68)
Amortization of acquisition-related intangibles	(131)	(183)	(271)	(303)
Additional cost of sales related to fair value step-up in inventory sold	0	16	0	31
Restructuring charges	0	7	0	7
Exelis
Income From Continuing Operations Before Income Taxes
Amortization of acquisition-related intangibles	(25)	(25)	(49)	(50)
Operating segments | Integrated Mission Systems
Segment Reporting Information [Line Items]
Revenue	1,494	1,331	2,945	2,701
Income From Continuing Operations Before Income Taxes
Segment operating income	229	224	469	425
Operating segments | Space and Airborne Systems
Segment Reporting Information [Line Items]
Revenue	1,287	1,249	2,523	2,441
Income From Continuing Operations Before Income Taxes
Segment operating income	253	235	493	456
Operating segments | Communication Systems
Segment Reporting Information [Line Items]
Revenue	1,127	1,112	2,239	2,206
Income From Continuing Operations Before Income Taxes
Segment operating income	287	265	568	515
Operating segments | Aviation Systems
Segment Reporting Information [Line Items]
Revenue	809	800	1,623	1,811
Income From Continuing Operations Before Income Taxes
Segment operating income	35	31	163	(146)
Corporate eliminations
Segment Reporting Information [Line Items]
Revenue	(49)	(47)	(95)	(88)
Other unallocated corporate expenses
Income From Continuing Operations Before Income Taxes
Segment operating income	(70)	(53)	(110)	(78)
Divestiture-related expenses	$ 46	9	$ 53	9
Additional cost of sales related to fair value step-up in inventory sold		16		31
Restructuring charges		$ 7		$ 7

Business Segment Information _3

Business Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2021	Jul. 03, 2020	Jul. 02, 2021	Jul. 03, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 4,668	$ 4,445	$ 9,235	$ 9,071
Intersegment
Disaggregation of Revenue [Line Items]
Revenue	(49)	(47)	(95)	(88)
Integrated Mission Systems | Transferred over time
Disaggregation of Revenue [Line Items]
Revenue	1,494	1,331	2,945	2,701
Integrated Mission Systems | Transferred over time | Intersegment
Disaggregation of Revenue [Line Items]
Revenue	14	13	29	25
Integrated Mission Systems | Transferred over time | United States
Disaggregation of Revenue [Line Items]
Revenue	1,034	1,026	2,054	2,119
Integrated Mission Systems | Transferred over time | International
Disaggregation of Revenue [Line Items]
Revenue	446	292	862	557
Integrated Mission Systems | Transferred over time | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	1,147	997	2,239	2,021
Integrated Mission Systems | Transferred over time | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	333	321	677	655
Integrated Mission Systems | Transferred over time | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	1,020	856	2,027	1,807
Integrated Mission Systems | Transferred over time | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	460	462	889	869
Space and Airborne Systems | Transferred over time
Disaggregation of Revenue [Line Items]
Revenue	1,287	1,249	2,523	2,441
Space and Airborne Systems | Transferred over time | Intersegment
Disaggregation of Revenue [Line Items]
Revenue	2	3	4	6
Space and Airborne Systems | Transferred over time | United States
Disaggregation of Revenue [Line Items]
Revenue	1,102	1,049	2,162	2,050
Space and Airborne Systems | Transferred over time | International
Disaggregation of Revenue [Line Items]
Revenue	183	197	357	385
Space and Airborne Systems | Transferred over time | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	740	701	1,455	1,370
Space and Airborne Systems | Transferred over time | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	545	545	1,064	1,065
Space and Airborne Systems | Transferred over time | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	733	674	1,416	1,333
Space and Airborne Systems | Transferred over time | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	552	572	1,103	1,102
Communication Systems | Transferred at point in time and over time
Disaggregation of Revenue [Line Items]
Revenue	1,127	1,112	2,239	2,206
Communication Systems | Transferred at point in time and over time | Intersegment
Disaggregation of Revenue [Line Items]
Revenue	14	11	25	19
Communication Systems | Transferred at point in time and over time | United States
Disaggregation of Revenue [Line Items]
Revenue	786	835	1,618	1,664
Communication Systems | Transferred at point in time and over time | International
Disaggregation of Revenue [Line Items]
Revenue	327	266	596	523
Communication Systems | Transferred at point in time and over time | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	954	945	1,894	1,858
Communication Systems | Transferred at point in time and over time | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	159	156	320	329
Communication Systems | Transferred at point in time and over time | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	783	748	1,512	1,488
Communication Systems | Transferred at point in time and over time | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	330	353	702	699
Aviation Systems | Transferred at point in time and over time
Disaggregation of Revenue [Line Items]
Revenue	809	800	1,623	1,811
Aviation Systems | Transferred at point in time and over time | Intersegment
Disaggregation of Revenue [Line Items]
Revenue	19	20	37	38
Aviation Systems | Transferred at point in time and over time | United States
Disaggregation of Revenue [Line Items]
Revenue	679	676	1,361	1,408
Aviation Systems | Transferred at point in time and over time | International
Disaggregation of Revenue [Line Items]
Revenue	111	104	225	365
Aviation Systems | Transferred at point in time and over time | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	641	610	1,280	1,439
Aviation Systems | Transferred at point in time and over time | Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	149	170	306	334
Aviation Systems | Transferred at point in time and over time | Prime contractor
Disaggregation of Revenue [Line Items]
Revenue	520	515	1,056	1,179
Aviation Systems | Transferred at point in time and over time | Subcontractor
Disaggregation of Revenue [Line Items]
Revenue	$ 270	$ 265	$ 530	$ 594

Business Segment Information _4

Business Segment Information - Total Assets by Segment (Details) - USD ($) $ in Millions	Jul. 02, 2021	Jan. 01, 2021
Segment Reporting Information [Line Items]
Assets	$ 36,064	$ 36,960
Identifiable intangibles assets acquired	6,958	7,908
Operating segments | Integrated Mission Systems
Segment Reporting Information [Line Items]
Assets	9,152	8,906
Operating segments | Space and Airborne Systems
Segment Reporting Information [Line Items]
Assets	7,058	6,943
Operating segments | Communication Systems
Segment Reporting Information [Line Items]
Assets	5,871	5,746
Operating segments | Aviation Systems
Segment Reporting Information [Line Items]
Assets	4,042	5,026
Corporate
Segment Reporting Information [Line Items]
Assets	9,941	10,339
Corporate | Exelis
Segment Reporting Information [Line Items]
Identifiable intangibles assets acquired	$ 7,000	$ 7,900

Legal Proceedings and Conting_2

Legal Proceedings and Contingencies (Details) - Exelis - Passaic River Alaska $ in Millions	1 Months Ended
	Mar. 31, 2016USD ($)responsible_party
Loss Contingencies [Line Items]
Number of potentially responsible parties notified (over 100) | responsible_party	100
Estimated cost for all participating parties of EPA's preferred alternative | $	$ 1,380