About L3Harris Technologies Inc

L3Harris Technologies, Inc. and its subsidiaries (L3Harris) operate as the disruptor in the defense industry. The company delivers end-to-end technology solutions connecting the space, air, land, sea and cyber domains. The company supports government customers in more than 100 countries, with the company’s largest customers being various departments and agencies of the U.S. Government and their prime contractors. The company’s products and services have defense and civil government applications, as well as commercial applications. The company structures its operations primarily around the products, systems and services the company sells and the markets the company serves. Business Segments The company operates through four segments: Space & Airborne Systems (‘SAS’); Integrated Mission Systems (‘IMS’); Communication Systems (‘CS’); and Aerojet Rocketdyne (‘AR’). The company’s business segments provide a wide-range of products, systems and services to various customers. SAS SAS is a leading provider of full mission solutions as a prime and subsystem integrator in the space, airborne and cyber domains. The company provides top-tier capabilities in the design, development, integration, production and sustainment of major weapons systems for defense primes and national security, civil government, and international customers in the following business sectors: Space Systems: End-to-end mission solutions in support of intelligence, surveillance and reconnaissance (‘ISR’); position, navigation and timing; weather and climate monitoring; missile defense and ground-based space surveillance networks. Intel & Cyber: Situational awareness, intelligence systems and advanced wireless solutions for classified intelligence and defense customers. Mission Avionics: Sensors, processors, hardened electronics, release systems and antennas for aircraft platforms. Mission Networks: Communications and networking solutions for air traffic management. ACS: Threat warning and countermeasures for airborne, ground and maritime platforms. Also includes ADG, an innovation accelerator and collaboration initiative established to rapidly address near-peer, national security threats. IMS IMS is a leading provider of differentiated mission capabilities and prime systems integration for the air, land and sea domains. The company delivers top-tier capabilities in the design, development, integration, production, modernization and sustainment of ISR, passive sensing and targeting, electronic attack, autonomy, power and communications, networks and sensors for national security and international customers in the following business sectors: ISR: Airborne passive sensing and targeting, mission systems development, integration and life-cycle management for strategic reconnaissance, national command and control, tactical surveillance, electronic attack, agile strike, mobility, and classified platforms. Maritime: Passive sensing and targeting, autonomy and manned and unmanned teaming, power and communications, undersea sensors and networks and classified capabilities for manned platforms and unmanned surface and undersea vessels. Electro Optical: Passive sensing and targeting; laser imaging and sensor systems; space communications and avionics; and fuzing, navigation and range-testing solutions on platforms spanning all domains. Commercial Aviation Solutions: Integrated aircraft avionics, pilot training and data analytics services for the commercial aviation industry. On November 27, 2023, the company entered into a definitive agreement to sell Commercial Aviation Solutions (‘CAS disposal group’). CS CS enables warfighters across all domains with solutions critical to mission success even in the most contested environments. The company is a leading provider of resilient communication solutions for the U.S. Department of Defense (‘DoD’), international, federal and state agency customers in the following business sectors: Tactical Communications: Design, manufacture and sustainment of resilient and secure communication solutions that include tactical radios, software, satellite terminals and end-to-end battlefield systems. Broadband Communications: Design, manufacture and sustainment of resilient and secure communication solutions that include ISR and tactical data links, software and integrated broadband networks. Includes the operations of Tactical Data Links product line (‘TDL’), acquired from Viasat, Inc. (‘Viasat’) on January 3, 2023. See Note 13: Acquisitions, Divestitures and Asset Sales in the Notes for further information. Integrated Vision Solutions (‘IVS’): Design, manufacture and sustainment of a full suite of helmet-mounted integrated night vision goggles with leading-edge image intensifier tubes and weapon-mounted sights, aiming lasers, and range finders. Public Safety: State-of-art communication equipment, systems and applications for federal agencies, state and local government first responders, utilities and transit agencies. AR On July 28, 2023, the company acquired AJRD, a technology-based engineering and manufacturing company. AR is a leading provider of propulsion, power and armament products and systems to the U.S. government, including the DoD, National Aeronautics and Space Administration (‘NASA’) and major aerospace and defense prime contractors in the following business sectors: Missile Solutions: Propulsion technologies and armament systems for strategic defense, missile defense, hypersonic and tactical systems. Space Propulsion and Power Systems: Premier propulsion and power systems for national security, space and exploration missions. International Business In the year ended December 29, 2023 (fiscal 2023), revenue from products and services where the end consumer is located outside the U.S., including foreign military sales funded through the U.S. Government, whether directly or through prime contractors, was 21% of the company’s revenue and came from a large number of countries with no single foreign country accounting for more than 5% of the company’s total revenue. The majority of the company’s international marketing activities are conducted through subsidiaries that operate in the Europe, the Middle East and Africa (‘EMEA’) and the Asia-Pacific (‘APAC’) regions and Canada. The company also has established international marketing organizations and several regional sales offices. Competition The company competes domestically and internationally against large defense companies; principally BAE Systems, Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, RTX; and Thales. Research and Development The company-funded research and development costs were $480 million in the year ended December 29, 2023. History The company was founded in 1895. It was incorporated in Delaware in 1926. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in 2019.