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Leidos Holdings Inc. (LDOS-2.44%) has submitted its annual report on Form 10-K filing for the fiscal year ended January 3, 2025.
The filing details Leidos' financial performance, including total revenues of $16.7 billion for the fiscal year 2024, an 8% increase from the previous year. The increase was primarily due to a net increase in volumes on certain programs and program wins.
Operating income for fiscal 2024 was $1.8 billion, compared to $621 million in the previous year. The increase was mainly attributed to a reduction in impairment and restructuring charges.
Leidos operates in four reportable segments: National Security & Digital, Health & Civil, Commercial & International, and Defense Systems. The National Security & Digital segment reported revenues of $7.4 billion, while Health & Civil reported $5 billion.
The Commercial & International segment reported revenues of $2.3 billion, and the Defense Systems segment reported $2 billion in revenues for fiscal 2024.
Leidos' backlog at the end of fiscal 2024 was $43.6 billion, with $8.4 billion funded. The company expects to recognize a substantial portion of its funded backlog as revenues within the next 12 months.
The company's effective tax rate for fiscal 2024 was 23.7%, impacted by federal research tax credits and lower state income taxes.
Leidos paid dividends totaling $208 million during fiscal 2024 and repurchased $850 million of its common stock.
The filing also discusses the company's exposure to various risks, including changes in government spending, competition, and regulatory compliance.
Leidos continues to focus on leveraging its core capabilities to address customer needs in government and commercial markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Leidos Holdings Inc. annual 10-K report dated February 11, 2025. To report an error, please email earnings@qz.com.