Cover and table of contents

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Cover and table of contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 1, 2022

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to ______________

Commission File Number 1-3863

L3HARRIS TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware34-0276860
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1025 West NASA Boulevard
Melbourne,Florida32919
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (321) 727-9100

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $1.00 per shareLHXNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. þ Yes o No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). þ Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filerþAccelerated filer☐
Non-accelerated filer¨Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes þ No

The number of shares outstanding of the registrant’s common stock as of July 22, 2022 was 191,353,157.

L3HARRIS TECHNOLOGIES, INC.

FORM 10-Q

For the Quarter Ended July 1, 2022

TABLE OF CONTENTS

Page No.
Part I. Financial Information:
ITEM 1. Financial Statements (Unaudited):
Condensed Consolidated Statement of Income for the Quarter and Two Quarters Ended July 1, 2022 and July 2, 20211
Condensed Consolidated Statement of Comprehensive Income for the Quarter and Two Quarters Ended July 1, 2022 and July 2, 20212
Condensed Consolidated Balance Sheet at July 1, 2022 and December 31, 20213
Condensed Consolidated Statement of Cash Flows for the Two Quarters Ended July 1, 2022 and July 2, 20214
Condensed Consolidated Statement of Equity for the Quarter and Two Quarters Ended July 1, 2022 and July 2, 20215
Notes to Condensed Consolidated Financial Statements6
Report of Independent Registered Public Accounting Firm (PCAOB ID: 42)17
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations18
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk29
ITEM 4. Controls and Procedures29
Part II. Other Information:
ITEM 1. Legal Proceedings31
ITEM 1A. Risk Factors31
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds32
ITEM 3. Defaults Upon Senior Securities32
ITEM 4. Mine Safety Disclosures32
ITEM 5. Other Information32
ITEM 6. Exhibits32
Signatures34

This Report contains trademarks, service marks and registered marks of L3Harris Technologies, Inc. and its subsidiaries. All other trademarks are the property of their respective owners.

PART I. FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS (Unaudited).