Pay vs Performance Disclosure $ / shares in Units, pure in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2020 USD ($) $ / shares |
Pay vs Performance Disclosure [Table] | | | |
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE Compensation Actually Paid Tables The following tables summarize the relationship between NEO compensation actually paid (“Compensation Actually Paid” or “CAP”) and our financial performance for our last three completed fiscal years, calculated in the manner required by Item 402(v) of Regulation S-K. The following tables and the associated narrative and graphical disclosure should be viewed together for a more complete presentation of such relationship over the periods presented. Year Summary (1) Summary (1) Compensation (2) Compensation (2) Average (3) Average (2)(3) Value of Initial Fixed Net (Company (4) TSR Peer 2022 $ 16,714,229 n/a $ 21,278,977 n/a $ 5,008,120 $ 5,096,945 $ 104.68 $ 107.39 $ 1,061 $ 2,029 2021 $ 15,697,749 $ 15,707,755 $ 23,168,382 $ 22,994,342 $ 3,232,194 $ 4,708,200 $ 105.19 $ 91.50 $ 1,842 $ 2,746 2020 n/a $ 15,452,653 n/a $ 18,317,486 $ 7,108,088 $ 8,177,817 $ 91.48 $ 80.81 $ 1,086 $ 2,686 (1) Mr. Kubasik became CEO of L3Harris and its principal executive officer on June 29, 2021, at which point Mr. Brown transitioned to the role of Executive Chair. Following Mr. Brown’s transition to Executive Chair, Mr. Brown remained a named executive officer, but was no longer the CEO of L3Harris. Mr. Brown retired on June 29, 2022. (2) To calculate CAP, the following amounts were deducted from and added to the total compensation set forth in the Summary Compensation Table for the fiscal year shown: Mr. Kubasik Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 1,500,000 $ 2,625,000 $ 11,788,065 n/a $ 801,164 $ 16,714,229 $ (11,788,065 ) $ 16,352,813 $ 21,278,977 2021 $ 1,500,000 $ 2,750,000 $ 11,037,970 n/a $ 409,779 $ 15,697,749 $ (11,037,970 ) $ 18,508,603 $ 23,168,382 2020 n/a n/a n/a n/a n/a n/a n/a n/a n/a Mr. Brown Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 n/a n/a n/a n/a n/a n/a n/a n/a n/a 2021 $ 1,500,000 $ 2,750,000 $ 11,037,970 n/a $ 419,785 $ 15,707,755 $ (11,037,970 ) $ 18,324,557 $ 22,994,342 2020 $ 1,492,308 $ 2,850,000 $ 10,794,567 n/a $ 315,778 $ 15,452,653 $ (10,794,567 ) $ 13,659,400 $ 18,317,486 Average Non-CEO NEOs Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 500,272 $ 773,250 $ 3,245,952 n/a $ 488,646 $ 5,008,120 $ (3,245,952 ) $ 3,334,777 $ 5,096,945 2021 $ 671,731 $ 472,500 $ 1,919,408 n/a $ 168,556 $ 3,232,194 $ (1,919,408 ) $ 3,395,414 $ 4,708,200 2020 $ 853,654 $ 1,230,000 $ 4,094,108 $ 122,587 $ 807,739 $ 7,108,088 $ (4,216,695 ) $ 5,286,424 $ 8,177,817 (i) Represents “Stock Awards” and “Option Awards” reported in the Summary Compensation Table for the fiscal year shown. (ii) Represents the change in actuarial present value of the NEO’s accumulated benefit under all defined benefit pension plans, reported under “Change in Pension Value and Nonqualified Deferred Compensation Earnings” in the Summary Compensation Table for the fiscal year shown. (iii) Represents “All Other Compensation” reported in the Summary Compensation Table for the fiscal year shown. (iv) Reflects deductions for the grant date fair value of equity-based awards granted each fiscal year (column (i)) and the change in pension value each fiscal year (column (ii)), where applicable. (v) Reflects additions for total pension benefit adjustment and equity award adjustment amounts. The following table describes the components of the adjustments to the Summary Compensation Table Total that are attributable to pension benefits for the fiscal year shown: Pension Value Adjustment Year Service Cost Prior Service Cost Total Pension Benefit Adjustments 2022 $ 0 $ 0 $ 0 2021 $ 0 $ 0 $ 0 2020 $ 0 $ 0 $ 0 The following tables describe the components of the adjustments to the Summary Compensation Table Total that are attributable to the value of equity awards calculated in accordance with the methodology for determining CAP for each fiscal year shown, with all fair values computed in accordance with ASC 718. Below the following tables is further information regarding the determination of fair values of the equity awards. Mr. Kubasik Equity Award Adjustments Year Year End Fair Year over Year Fair Value as Year over Year Fair Value at Value of Dividends Total 2022 $ 10,746,951 $ 319,308 n/a $ 4,996,245 n/a $ 290,308 $ 16,352,813 2021 $ 14,701,225 $ 2,694,420 n/a $ 669,503 n/a $ 443,455 $ 18,508,603 2020 n/a n/a n/a n/a n/a n/a n/a Mr. Brown Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 n/a n/a n/a n/a n/a n/a n/a 2021 $ 14,701,225 $ 3,300,380 n/a $ (92,869 ) n/a $ 415,821 $ 18,324,557 2020 $ 10,784,404 $ 2,579,879 n/a $ 0 n/a $ 295,117 $ 13,659,400 Average Non-CEO NEOs Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 $ 2,568,851 $ 54,465 $ 510,320 $ 1,762,397 $ (1,637,690 ) $ 76,433 $ 3,334,777 2021 $ 2,556,542 $ 746,601 n/a $ (1,051 ) n/a $ 93,323 $ 3,395,414 2020 $ 4,090,296 $ 1,141,370 n/a $ (88,316 ) n/a $ 143,074 $ 5,286,424 The fair values of performance share units were computed based on the probable outcome of the performance conditions for each grant. A multifactor Monte Carlo model was used to simulate our stock price and TSR relative to other companies in the S&P 500 as of the last day of the fiscal year, less a discount because dividends are not payable on performance share units during the performance period. For all grants of performance share units, each performance share unit earned at the end of the applicable multi-year performance period and paid out receives accrued dividend equivalents in an amount equal to the cash dividends or other distributions, if any, which are paid with respect to an issued and outstanding share of our common stock during the performance period. Payment of such dividend equivalents is made in cash at the time of the actual payout of performance share units ultimately earned as determined after completion of the performance period. Dividends declared with respect to issued and outstanding shares of our common stock were $4.48, $4.08 and $3.90 per share in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. The dollar value of dividend equivalents paid on vested performance share units is included in the “All Other Compensation” column of the Summary Compensation Table when the value of such dividend equivalents paid was not factored into the grant date fair value of the underlying performance shares units. The fair value of restricted stock units was determined using closing market price of our common stock on each date. Although dividends are also not payable on restricted stock units during the restriction period, the fair values of restricted stock units do not reflect any discounts. Instead, each restricted stock unit paid out receives accrued dividend equivalents in an amount per share equal to the cash dividends or other distributions, if any, paid with respect to an issued and outstanding share of our common stock during the restricted period, with payment of such dividends to be made in cash at the time of the actual payout of restricted stock units after completion of the restricted period. For the purposes of calculating CAP and pursuant to SEC rules, we disregarded the estimates of forfeitures related to service-based vesting conditions and included the value of dividend equivalents accrued on stock awards during the year, when the value of such dividend equivalents paid was factored into the grant date fair value of the underlying stock units, as part of our equity adjustments shown above. The fair value of stock options and performance stock options were calculated as of each date using the Black-Scholes-Merton option-pricing model. Pursuant to SEC rules, we disregarded the estimates of forfeitures related to service-based vesting conditions. (3) The non-CEO NEOs reflected in columns (f) and (g) represent the following individuals for each fiscal year shown: 2022 — Mr. Brown, Mr. Malave, Ms. Turner, Mr. Rambeau, Mr. Stackley, Mr. Zoiss; 2021 — Mr. Malave, Todd W. Gautier, Mr. Stackley, Mr. Zoiss; and 2020 — Mr. Kubasik, Mr. Malave, Mr. Gautier, Mr. Zoiss. (4) See Appendix A for reconciliations of GAAP to non-GAAP financial measures. | | |
Company Selected Measure Name | Adjusted Free Cash Flow | | |
Named Executive Officers, Footnote [Text Block] | 1) Mr. Kubasik became CEO of L3Harris and its principal executive officer on June 29, 2021, at which point Mr. Brown transitioned to the role of Executive Chair. Following Mr. Brown’s transition to Executive Chair, Mr. Brown remained a named executive officer, but was no longer the CEO of L3Harris. Mr. Brown retired on June 29, 2022. (2) To calculate CAP, the following amounts were deducted from and added to the total compensation set forth in the Summary Compensation Table for the fiscal year shown: Mr. Kubasik Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 1,500,000 $ 2,625,000 $ 11,788,065 n/a $ 801,164 $ 16,714,229 $ (11,788,065 ) $ 16,352,813 $ 21,278,977 2021 $ 1,500,000 $ 2,750,000 $ 11,037,970 n/a $ 409,779 $ 15,697,749 $ (11,037,970 ) $ 18,508,603 $ 23,168,382 2020 n/a n/a n/a n/a n/a n/a n/a n/a n/a Mr. Brown Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 n/a n/a n/a n/a n/a n/a n/a n/a n/a 2021 $ 1,500,000 $ 2,750,000 $ 11,037,970 n/a $ 419,785 $ 15,707,755 $ (11,037,970 ) $ 18,324,557 $ 22,994,342 2020 $ 1,492,308 $ 2,850,000 $ 10,794,567 n/a $ 315,778 $ 15,452,653 $ (10,794,567 ) $ 13,659,400 $ 18,317,486 Average Non-CEO NEOs Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 500,272 $ 773,250 $ 3,245,952 n/a $ 488,646 $ 5,008,120 $ (3,245,952 ) $ 3,334,777 $ 5,096,945 2021 $ 671,731 $ 472,500 $ 1,919,408 n/a $ 168,556 $ 3,232,194 $ (1,919,408 ) $ 3,395,414 $ 4,708,200 2020 $ 853,654 $ 1,230,000 $ 4,094,108 $ 122,587 $ 807,739 $ 7,108,088 $ (4,216,695 ) $ 5,286,424 $ 8,177,817 (i) Represents “Stock Awards” and “Option Awards” reported in the Summary Compensation Table for the fiscal year shown. (ii) Represents the change in actuarial present value of the NEO’s accumulated benefit under all defined benefit pension plans, reported under “Change in Pension Value and Nonqualified Deferred Compensation Earnings” in the Summary Compensation Table for the fiscal year shown. (iii) Represents “All Other Compensation” reported in the Summary Compensation Table for the fiscal year shown. (iv) Reflects deductions for the grant date fair value of equity-based awards granted each fiscal year (column (i)) and the change in pension value each fiscal year (column (ii)), where applicable. (v) Reflects additions for total pension benefit adjustment and equity award adjustment amounts. The following table describes the components of the adjustments to the Summary Compensation Table Total that are attributable to pension benefits for the fiscal year shown: Pension Value Adjustment Year Service Cost Prior Service Cost Total Pension Benefit Adjustments 2022 $ 0 $ 0 $ 0 2021 $ 0 $ 0 $ 0 2020 $ 0 $ 0 $ 0 The following tables describe the components of the adjustments to the Summary Compensation Table Total that are attributable to the value of equity awards calculated in accordance with the methodology for determining CAP for each fiscal year shown, with all fair values computed in accordance with ASC 718. Below the following tables is further information regarding the determination of fair values of the equity awards. Mr. Kubasik Equity Award Adjustments Year Year End Fair Year over Year Fair Value as Year over Year Fair Value at Value of Dividends Total 2022 $ 10,746,951 $ 319,308 n/a $ 4,996,245 n/a $ 290,308 $ 16,352,813 2021 $ 14,701,225 $ 2,694,420 n/a $ 669,503 n/a $ 443,455 $ 18,508,603 2020 n/a n/a n/a n/a n/a n/a n/a Mr. Brown Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 n/a n/a n/a n/a n/a n/a n/a 2021 $ 14,701,225 $ 3,300,380 n/a $ (92,869 ) n/a $ 415,821 $ 18,324,557 2020 $ 10,784,404 $ 2,579,879 n/a $ 0 n/a $ 295,117 $ 13,659,400 Average Non-CEO NEOs Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 $ 2,568,851 $ 54,465 $ 510,320 $ 1,762,397 $ (1,637,690 ) $ 76,433 $ 3,334,777 2021 $ 2,556,542 $ 746,601 n/a $ (1,051 ) n/a $ 93,323 $ 3,395,414 2020 $ 4,090,296 $ 1,141,370 n/a $ (88,316 ) n/a $ 143,074 $ 5,286,424 The fair values of performance share units were computed based on the probable outcome of the performance conditions for each grant. A multifactor Monte Carlo model was used to simulate our stock price and TSR relative to other companies in the S&P 500 as of the last day of the fiscal year, less a discount because dividends are not payable on performance share units during the performance period. For all grants of performance share units, each performance share unit earned at the end of the applicable multi-year performance period and paid out receives accrued dividend equivalents in an amount equal to the cash dividends or other distributions, if any, which are paid with respect to an issued and outstanding share of our common stock during the performance period. Payment of such dividend equivalents is made in cash at the time of the actual payout of performance share units ultimately earned as determined after completion of the performance period. Dividends declared with respect to issued and outstanding shares of our common stock were $4.48, $4.08 and $3.90 per share in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. The dollar value of dividend equivalents paid on vested performance share units is included in the “All Other Compensation” column of the Summary Compensation Table when the value of such dividend equivalents paid was not factored into the grant date fair value of the underlying performance shares units. The fair value of restricted stock units was determined using closing market price of our common stock on each date. Although dividends are also not payable on restricted stock units during the restriction period, the fair values of restricted stock units do not reflect any discounts. Instead, each restricted stock unit paid out receives accrued dividend equivalents in an amount per share equal to the cash dividends or other distributions, if any, paid with respect to an issued and outstanding share of our common stock during the restricted period, with payment of such dividends to be made in cash at the time of the actual payout of restricted stock units after completion of the restricted period. For the purposes of calculating CAP and pursuant to SEC rules, we disregarded the estimates of forfeitures related to service-based vesting conditions and included the value of dividend equivalents accrued on stock awards during the year, when the value of such dividend equivalents paid was factored into the grant date fair value of the underlying stock units, as part of our equity adjustments shown above. The fair value of stock options and performance stock options were calculated as of each date using the Black-Scholes-Merton option-pricing model. Pursuant to SEC rules, we disregarded the estimates of forfeitures related to service-based vesting conditions. (3) The non-CEO NEOs reflected in columns (f) and (g) represent the following individuals for each fiscal year shown: 2022 — Mr. Brown, Mr. Malave, Ms. Turner, Mr. Rambeau, Mr. Stackley, Mr. Zoiss; 2021 — Mr. Malave, Todd W. Gautier, Mr. Stackley, Mr. Zoiss; and 2020 — Mr. Kubasik, Mr. Malave, Mr. Gautier, Mr. Zoiss. | | |
PEO Actually Paid Compensation Amount | | $ 23,168,382 | |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) To calculate CAP, the following amounts were deducted from and added to the total compensation set forth in the Summary Compensation Table for the fiscal year shown: Mr. Kubasik Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 1,500,000 $ 2,625,000 $ 11,788,065 n/a $ 801,164 $ 16,714,229 $ (11,788,065 ) $ 16,352,813 $ 21,278,977 2021 $ 1,500,000 $ 2,750,000 $ 11,037,970 n/a $ 409,779 $ 15,697,749 $ (11,037,970 ) $ 18,508,603 $ 23,168,382 2020 n/a n/a n/a n/a n/a n/a n/a n/a n/a Mr. Brown Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 n/a n/a n/a n/a n/a n/a n/a n/a n/a 2021 $ 1,500,000 $ 2,750,000 $ 11,037,970 n/a $ 419,785 $ 15,707,755 $ (11,037,970 ) $ 18,324,557 $ 22,994,342 2020 $ 1,492,308 $ 2,850,000 $ 10,794,567 n/a $ 315,778 $ 15,452,653 $ (10,794,567 ) $ 13,659,400 $ 18,317,486 Average Non-CEO NEOs Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 500,272 $ 773,250 $ 3,245,952 n/a $ 488,646 $ 5,008,120 $ (3,245,952 ) $ 3,334,777 $ 5,096,945 2021 $ 671,731 $ 472,500 $ 1,919,408 n/a $ 168,556 $ 3,232,194 $ (1,919,408 ) $ 3,395,414 $ 4,708,200 2020 $ 853,654 $ 1,230,000 $ 4,094,108 $ 122,587 $ 807,739 $ 7,108,088 $ (4,216,695 ) $ 5,286,424 $ 8,177,817 (i) Represents “Stock Awards” and “Option Awards” reported in the Summary Compensation Table for the fiscal year shown. (ii) Represents the change in actuarial present value of the NEO’s accumulated benefit under all defined benefit pension plans, reported under “Change in Pension Value and Nonqualified Deferred Compensation Earnings” in the Summary Compensation Table for the fiscal year shown. (iii) Represents “All Other Compensation” reported in the Summary Compensation Table for the fiscal year shown. (iv) Reflects deductions for the grant date fair value of equity-based awards granted each fiscal year (column (i)) and the change in pension value each fiscal year (column (ii)), where applicable. (v) Reflects additions for total pension benefit adjustment and equity award adjustment amounts. The following table describes the components of the adjustments to the Summary Compensation Table Total that are attributable to pension benefits for the fiscal year shown: Pension Value Adjustment Year Service Cost Prior Service Cost Total Pension Benefit Adjustments 2022 $ 0 $ 0 $ 0 2021 $ 0 $ 0 $ 0 2020 $ 0 $ 0 $ 0 The following tables describe the components of the adjustments to the Summary Compensation Table Total that are attributable to the value of equity awards calculated in accordance with the methodology for determining CAP for each fiscal year shown, with all fair values computed in accordance with ASC 718. Below the following tables is further information regarding the determination of fair values of the equity awards. Mr. Kubasik Equity Award Adjustments Year Year End Fair Year over Year Fair Value as Year over Year Fair Value at Value of Dividends Total 2022 $ 10,746,951 $ 319,308 n/a $ 4,996,245 n/a $ 290,308 $ 16,352,813 2021 $ 14,701,225 $ 2,694,420 n/a $ 669,503 n/a $ 443,455 $ 18,508,603 2020 n/a n/a n/a n/a n/a n/a n/a Mr. Brown Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 n/a n/a n/a n/a n/a n/a n/a 2021 $ 14,701,225 $ 3,300,380 n/a $ (92,869 ) n/a $ 415,821 $ 18,324,557 2020 $ 10,784,404 $ 2,579,879 n/a $ 0 n/a $ 295,117 $ 13,659,400 Average Non-CEO NEOs Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 $ 2,568,851 $ 54,465 $ 510,320 $ 1,762,397 $ (1,637,690 ) $ 76,433 $ 3,334,777 2021 $ 2,556,542 $ 746,601 n/a $ (1,051 ) n/a $ 93,323 $ 3,395,414 2020 $ 4,090,296 $ 1,141,370 n/a $ (88,316 ) n/a $ 143,074 $ 5,286,424 The fair values of performance share units were computed based on the probable outcome of the performance conditions for each grant. A multifactor Monte Carlo model was used to simulate our stock price and TSR relative to other companies in the S&P 500 as of the last day of the fiscal year, less a discount because dividends are not payable on performance share units during the performance period. For all grants of performance share units, each performance share unit earned at the end of the applicable multi-year performance period and paid out receives accrued dividend equivalents in an amount equal to the cash dividends or other distributions, if any, which are paid with respect to an issued and outstanding share of our common stock during the performance period. Payment of such dividend equivalents is made in cash at the time of the actual payout of performance share units ultimately earned as determined after completion of the performance period. Dividends declared with respect to issued and outstanding shares of our common stock were $4.48, $4.08 and $3.90 per share in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. The dollar value of dividend equivalents paid on vested performance share units is included in the “All Other Compensation” column of the Summary Compensation Table when the value of such dividend equivalents paid was not factored into the grant date fair value of the underlying performance shares units. The fair value of restricted stock units was determined using closing market price of our common stock on each date. Although dividends are also not payable on restricted stock units during the restriction period, the fair values of restricted stock units do not reflect any discounts. Instead, each restricted stock unit paid out receives accrued dividend equivalents in an amount per share equal to the cash dividends or other distributions, if any, paid with respect to an issued and outstanding share of our common stock during the restricted period, with payment of such dividends to be made in cash at the time of the actual payout of restricted stock units after completion of the restricted period. For the purposes of calculating CAP and pursuant to SEC rules, we disregarded the estimates of forfeitures related to service-based vesting conditions and included the value of dividend equivalents accrued on stock awards during the year, when the value of such dividend equivalents paid was factored into the grant date fair value of the underlying stock units, as part of our equity adjustments shown above. The fair value of stock options and performance stock options were calculated as of each date using the Black-Scholes-Merton option-pricing model. Pursuant to SEC rules, we disregarded the estimates of forfeitures related to service-based vesting conditions. | | |
Non-PEO NEO Average Total Compensation Amount | $ 5,008,120 | 3,232,194 | $ 7,108,088 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 5,096,945 | 4,708,200 | $ 8,177,817 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | | | Average Non-CEO NEOs Summary Compensation Table Total to Compensation Actually Paid Reconciliation Year Salary Bonus and Non- Equity-Based Change in All Other Summary Deductions Additions Compensation 2022 $ 500,272 $ 773,250 $ 3,245,952 n/a $ 488,646 $ 5,008,120 $ (3,245,952 ) $ 3,334,777 $ 5,096,945 2021 $ 671,731 $ 472,500 $ 1,919,408 n/a $ 168,556 $ 3,232,194 $ (1,919,408 ) $ 3,395,414 $ 4,708,200 2020 $ 853,654 $ 1,230,000 $ 4,094,108 $ 122,587 $ 807,739 $ 7,108,088 $ (4,216,695 ) $ 5,286,424 $ 8,177,817 (i) Represents “Stock Awards” and “Option Awards” reported in the Summary Compensation Table for the fiscal year shown. (ii) Represents the change in actuarial present value of the NEO’s accumulated benefit under all defined benefit pension plans, reported under “Change in Pension Value and Nonqualified Deferred Compensation Earnings” in the Summary Compensation Table for the fiscal year shown. (iii) Represents “All Other Compensation” reported in the Summary Compensation Table for the fiscal year shown. (iv) Reflects deductions for the grant date fair value of equity-based awards granted each fiscal year (column (i)) and the change in pension value each fiscal year (column (ii)), where applicable. (v) Reflects additions for total pension benefit adjustment and equity award adjustment amounts. The following table describes the components of the adjustments to the Summary Compensation Table Total that are attributable to pension benefits for the fiscal year shown: Pension Value Adjustment Year Service Cost Prior Service Cost Total Pension Benefit Adjustments 2022 $ 0 $ 0 $ 0 2021 $ 0 $ 0 $ 0 2020 $ 0 $ 0 $ 0 The following tables describe the components of the adjustments to the Summary Compensation Table Total that are attributable to the value of equity awards calculated in accordance with the methodology for determining CAP for each fiscal year shown, with all fair values computed in accordance with ASC 718. Below the following tables is further information regarding the determination of fair values of the equity awards. Mr. Kubasik Equity Award Adjustments Year Year End Fair Year over Year Fair Value as Year over Year Fair Value at Value of Dividends Total 2022 $ 10,746,951 $ 319,308 n/a $ 4,996,245 n/a $ 290,308 $ 16,352,813 2021 $ 14,701,225 $ 2,694,420 n/a $ 669,503 n/a $ 443,455 $ 18,508,603 2020 n/a n/a n/a n/a n/a n/a n/a Mr. Brown Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 n/a n/a n/a n/a n/a n/a n/a 2021 $ 14,701,225 $ 3,300,380 n/a $ (92,869 ) n/a $ 415,821 $ 18,324,557 2020 $ 10,784,404 $ 2,579,879 n/a $ 0 n/a $ 295,117 $ 13,659,400 Average Non-CEO NEOs Equity Award Adjustments Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at Value of Dividends Total 2022 $ 2,568,851 $ 54,465 $ 510,320 $ 1,762,397 $ (1,637,690 ) $ 76,433 $ 3,334,777 2021 $ 2,556,542 $ 746,601 n/a $ (1,051 ) n/a $ 93,323 $ 3,395,414 2020 $ 4,090,296 $ 1,141,370 n/a $ (88,316 ) n/a $ 143,074 $ 5,286,424 |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | CAP vs. TSR As shown in the chart below, the CEO’s and other NEOs’ CAP values are aligned with L3Harris’ TSR. This is primarily due to our equity-based long-term incentive compensation, the value of which is tied directly to our stock price, as well as our financial performance. | | |
Compensation Actually Paid vs. Net Income [Text Block] | CAP vs. Net Income As shown in the chart below, our net income has varied while CAP has increased and then slightly decreased in fiscal 2022. This is largely due to our overall compensation mix, a large portion of which is equity-based and heavily impacted by our stock | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | CAP vs. Adjusted Free Cash Flow (Company-Selected Measure) As shown in the chart below, both adjusted free cash flow and CAP decreased in 2022. The decrease in adjusted free cash flow is largely due to a provision in the Tax Cuts and Jobs Act of 2017 that went into effect on January 1, 2022 requiring companies to capitalize and amortize R&D expenditures over five years rather than deducting such expenditures in the year incurred, resulting in additional cash income tax payments. The change in CAP is primarily due to our overall pay mix, a large portion of which is equity-based and heavily impacted by stock price, although this is also due in part to payouts under our annual incentive plan. Adjusted free cash flow is the largest component used in our annual cash incentive plan. While stock price and overall company performance may have a more prominent impact on CAP year-over-year, achievement against our adjusted free cash flow targets each year is the most important factor in determining our annual cash incentive payouts. The portion of CAP attributed to our annual cash incentive payout is consistent with our achievement against our adjusted free cash flow targets. CAP vs. Adjusted Free Cash Flow | | |
Total Shareholder Return Vs Peer Group [Text Block] | Total Shareholder Return: Company vs. Peer Group As shown in the chart below, 3-year cumulative TSR for L3Harris is greater than the companies included in our industry index for the first two years, and drops slightly at year 3. The TSR peer group is based on the S&P 500 Aerospace and Defense Industry index (“Index”), and our TSRs are similarly impacted by market conditions. | | |
Tabular List [Table Text Block] | Unranked List of the Most Important Financial Performance Measures Used to Link Compensation Actually Paid for Fiscal 2022 to Company Performance The table below provides an unranked list of the most important financial performance measures used by us to link Compensation Actually Paid for fiscal 2022 to our performance. Each of these financial performance measures is described in detail under the “Annual Cash Incentive” and “Long-term Incentives” headings in the “Compensation Discussion and Analysis” section of this proxy statement. Most Important Financial Performance Measures Adjusted Free Cash Flow 3-year Cumulative Earnings Per Share 3-year Enduring Target ROIC | | |
Total Shareholder Return Amount | $ 104.68 | 105.19 | $ 91.48 |
Peer Group Total Shareholder Return Amount | 107.39 | 91.5 | 80.81 |
Net Income (Loss) | $ 1,061,000,000 | $ 1,842,000,000 | $ 1,086,000,000 |
Company Selected Measure Amount | 2,029 | 2,746 | 2,686 |
PEO Name | Mr. Kubasik | | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | $ 0 | $ 0 | $ 0 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 0 | $ 0 | $ 0 |
Dividends Payable, Amount Per Share | $ / shares | $ 4.48 | $ 4.08 | $ 3.9 |
Measure [Axis]: 1 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Adjusted Free Cash Flow | | |
Non-GAAP Measure Description [Text Block] | 4) See Appendix A for reconciliations of GAAP to non-GAAP financial measures. | | |
Measure [Axis]: 2 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | 3-year Cumulative Earnings Per Share | | |
Measure [Axis]: 3 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | 3-year Enduring Target ROIC | | |
Mr Kubasik [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
PEO Total Compensation Amount | $ 16,714,229 | $ 15,697,749 | |
PEO Actually Paid Compensation Amount | 21,278,977 | 23,168,382 | |
Salary and Wage, Excluding Cost of Good and Service Sold | 1,500,000 | 1,500,000 | |
Bonus And Non-Equity Incentive Compensation Amount | 2,625,000 | 2,750,000 | |
Share-Based Payment Arrangement, Expense | 11,788,065 | 11,037,970 | |
All Other Compensation Amount | 801,164 | 409,779 | |
Mr Kubasik [Member] | Adjustment for Deductions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (11,788,065) | (11,037,970) | |
Mr Kubasik [Member] | Adjustment For Additions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 16,352,813 | 18,508,603 | |
Mr Kubasik [Member] | Equity Awarded Granted [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 10,746,951 | 14,701,225 | |
Mr Kubasik [Member] | Change in Fair Value of Outstanding and Unvested Equity awards [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 319,308 | 2,694,420 | |
Mr Kubasik [Member] | Change in Fair Value of Equity Awards Granted in Prior Years [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 4,996,245 | 669,503 | |
Mr Kubasik [Member] | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 290,308 | 443,455 | |
Mr Kubasik [Member] | Total Equity Award Adjustments [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 16,352,813 | 18,508,603 | |
Mr Brown [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
PEO Total Compensation Amount | | 15,707,755 | $ 15,452,653 |
PEO Actually Paid Compensation Amount | | 22,994,342 | 18,317,486 |
Salary and Wage, Excluding Cost of Good and Service Sold | | 1,500,000 | 1,492,308 |
Bonus And Non-Equity Incentive Compensation Amount | | 2,750,000 | 2,850,000 |
Share-Based Payment Arrangement, Expense | | 11,037,970 | 10,794,567 |
All Other Compensation Amount | | 419,785 | 315,778 |
Mr Brown [Member] | Adjustment for Deductions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | (11,037,970) | (10,794,567) |
Mr Brown [Member] | Adjustment For Additions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | 18,324,557 | 13,659,400 |
Mr Brown [Member] | Equity Awarded Granted [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | 14,701,225 | 10,784,404 |
Mr Brown [Member] | Change in Fair Value of Outstanding and Unvested Equity awards [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | 3,300,380 | 2,579,879 |
Mr Brown [Member] | Change in Fair Value of Equity Awards Granted in Prior Years [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | (92,869) | 0 |
Mr Brown [Member] | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | 415,821 | 295,117 |
Mr Brown [Member] | Total Equity Award Adjustments [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | 18,324,557 | 13,659,400 |
Non-PEO NEO [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | | 5,286,424 |
Salary and Wage, Excluding Cost of Good and Service Sold | 500,272 | 671,731 | 853,654 |
Bonus And Non-Equity Incentive Compensation Amount | 773,250 | 472,500 | 1,230,000 |
Share-Based Payment Arrangement, Expense | 3,245,952 | 1,919,408 | 4,094,108 |
All Other Compensation Amount | 488,646 | 168,556 | 807,739 |
Postemployment Benefits, Period Expense | | | 122,587 |
Non-PEO NEO [Member] | Adjustment for Deductions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (3,245,952) | (1,919,408) | (4,216,695) |
Non-PEO NEO [Member] | Adjustment For Additions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 3,334,777 | 3,395,414 | 5,286,424 |
Non-PEO NEO [Member] | Equity Awarded Granted [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 2,568,851 | 2,556,542 | 4,090,296 |
Non-PEO NEO [Member] | Change in Fair Value of Outstanding and Unvested Equity awards [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 54,465 | 746,601 | 1,141,370 |
Non-PEO NEO [Member] | Change in Fair Value of Equity Awards Granted in Prior Years [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 1,762,397 | (1,051) | (88,316) |
Non-PEO NEO [Member] | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 76,433 | 93,323 | $ 143,074 |
Non-PEO NEO [Member] | Total Equity Award Adjustments [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 3,334,777 | $ 3,395,414 | |
Non-PEO NEO [Member] | Vesting Date of Equity Awards Granted and Vested [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 510,320 | | |
Non-PEO NEO [Member] | Equity Awards That Failed to Meet Vesting Conditions [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ (1,637,690) | | |