Document and Entity Information (USD $)
In Billions, except Share data, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
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Feb. 21, 2011
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Jun. 25, 2010
|
|
Document and Entity Information [Abstract] | |||
Entity Registrant Name | L 3 COMMUNICATIONS HOLDINGS INC | ||
Entity Central Index Key | 0001056239 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2010 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2010 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 8.6 | ||
Entity Common Stock, Shares Outstanding | 108,404,230 |
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have 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 registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Details
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- Definition
The current portion, due within one year or one operating cycle, if longer, of aggregate prepayments received from customers for goods or services to be provided in the future, as well as the current portion of money or property received from customers that are to be returned upon satisfactory contract completion or as partial prepayment for goods or services to be provided in the future and also includes liabilities due to billings on long term contracts that exceed the income recorded under the percentage of completion contract accounting method, or that exceed the accumulated costs under the completed contract accounting method. No definition available.
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- Definition
Net unbilled contract receivables and net inventoried contract costs. No definition available.
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X | ||||||||||
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Excludes inventoried contract costs already included in CIP. No definition available.
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
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X | ||||||||||
- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet due to materiality considerations. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of current obligations not separately disclosed in the balance sheet due to materiality considerations. Current liabilities are expected to be paid within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value of common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Treasury stock is issued but is not outstanding. This stock has no voting rights and receives no dividends. Note that treasury stock may be recorded at its total cost or separately as par (or stated) value and additional paid in capital. Note: number of treasury shares concept is in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parenthetical) (USD $)
In Millions, except Share data, unless otherwise specified |
Dec. 31, 2010
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Dec. 31, 2009
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Current assets: | ||
Net allowances for billed receivables | $ 34 | $ 32 |
L-3 shareholders' equity: | ||
Treasury stock at cost, shares | 32,037,454 | 21,040,541 |
L-3 Holdings (Parent) [Member]
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||
L-3 shareholders' equity: | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares outstanding | 108,623,509 | 115,353,546 |
L-3 Communications [Member]
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L-3 shareholders' equity: | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100 | 100 |
Common stock, shares issued | 100 | 100 |
Common stock, shares outstanding | 100 | 100 |
X | ||||||||||
- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate costs related to the retirement of debt, including call premium and the write-off of deferred debt issuance costs. No definition available.
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X | ||||||||||
- Definition
Net income allocable to participating securities. No definition available.
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X | ||||||||||
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Gain (loss) after tax expense (benefit), not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net proceeds or assets obtained in excess of (less than) the net carrying amount of assets recorded, or assets distributed and liabilities assumed less than (in excess of) litigation reserves extinguished, in settlement of a litigation matter. Represents (for other than an insurance entity in its normal claims settlement process), the amount of income (expense) recognized in the period to settle pending or threatened litigation and insurance claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of income (loss) from continuing operations per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of income (loss) from continuing operations available to each share of common stock outstanding during the reporting period and each share that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of income (loss) from disposition of discontinued operations, net of related tax effect, per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of income (loss) from discontinued operations, net of related tax effect, per each diluted share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of gains (losses) resulting from nonoperating activities (for example, interest and dividend revenue, property, plant and equipment impairment loss, and so forth.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Operations (Parenthetical) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2008
|
|
Consolidated Statements of Operations [Abstract] | |
Tax effect on gain on sale of a business | $ 13 |
X | ||||||||||
- Definition
Tax expense (benefit) on the gain (loss), not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Stockholders equity other. No definition available.
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X | ||||||||||
- Definition
Tax benefit associated with any share-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Common stock cash dividend declared by an entity during the period. This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions to noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Decrease in noncontrolling interest as a result of redeeming or purchasing the interests of noncontrolling shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Increase in noncontrolling interest balance from issuance of additional shares to noncontrolling interest holders or the sale of all or a portion of the parent's equity interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cost of benefit improvement resulting from a plan amendment that occurred during the period, after tax. The cost has not been recognized in net periodic benefit cost pursuant to FAS 87 and 106. A plan amendment includes provisions that grant increased benefits based on services rendered in prior periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The accumulated change in the value of either the projected benefit obligation or the plans assets resulting from experience different from that assumed or from a change in an actuarial assumption that has not been recognized in net periodic benefit cost pursuant to FAS 87 and 106, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The adjustment out of other comprehensive income for actuarial gains (losses) recognized as a component of net periodic benefit cost during the period, after tax Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. No definition available.
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X | ||||||||||
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents movements included in the statement of changes in stockholders' equity which are not separately disclosed or provided for elsewhere in the taxonomy. No definition available.
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X | ||||||||||
- Definition
Number of stock issued during the period as a result of employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares issued during the period as a result of an employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares issued during the period as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate value of stock issued during the period as a result of employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate change in value for stock issued during the period as a result of employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value stock issued during the period as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tax effect on the amortization of pension and postretirement benefit plans net loss and prior service cost. No definition available.
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X | ||||||||||
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tax effect on the cost of benefit improvement resulting from a plan amendment that occurred during the period. The cost has not been recognized in net periodic benefit cost pursuant to FAS 87 and 106. A plan amendment includes provisions that grant increased benefits based on services rendered in prior periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tax effect on the accumulated change in the value of either the projected benefit obligation or the plans assets resulting from experience different from that assumed or from a change in an actuarial assumption that has not been recognized in net periodic benefit cost pursuant to FAS 87 and 106. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tax effect on the change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The current portion, due within one year or one operating cycle, if longer, of aggregate prepayments received from customers for goods or services to be provided in the future, as well as the current portion of money or property received from customers that are to be returned upon satisfactory contract completion or as partial prepayment for goods or services to be provided in the future and also includes liabilities due to billings on long term contracts that exceed the income recorded under the percentage of completion contract accounting method, or that exceed the accumulated costs under the completed contract accounting method. No definition available.
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X | ||||||||||
- Definition
The net change during the reporting period in the aggregate value of inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Excludes inventoried contract costs already included in CIP. No definition available.
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X | ||||||||||
- Definition
Inventoried contract costs, Unbilled receivables, and unliquidated progress payments. No definition available.
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X | ||||||||||
- Definition
Contributions To Employee Savings Plans In Companys Common Stock. No definition available.
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X | ||||||||||
- Definition
The gains and losses included in earning resulting from the sale of a product line. This element refers to the gain (loss). No definition available.
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X | ||||||||||
- Definition
The aggregate amount of adjustments to net income or loss necessary to remove the effects of all items whose cash effects are investing or financing cash flows. The aggregate amount also includes all noncash expenses and income items which reduce or increase net income and are thus added back or deducted when calculating cash provided by or used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Transactions that do not result in cash inflows or outflows in the period in which they occur, but affect net income and thus are removed when calculating net cash flow from operating activities using the indirect cash flow method. This element is used when there is not a more specific and appropriate element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The component of interest income or expense representing the periodic increase in or charge against earnings to reflect amortization of debt discounts and premiums over the life of the related debt instruments, which are liabilities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Gain (loss) after tax expense (benefit), not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the period in the amount of cash payments due to taxing authorities for taxes that are based on the reporting entity's earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period in the aggregate amount of pension, postretirement, workers' compensation, and other similar obligations and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period of all current assets and liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
For entities with classified balance sheets, the net change during the reporting period in the value of other assets or liabilities used in operating activities, that are not otherwise defined in the taxonomy. For entities with unclassified balance sheets, the net change during the reporting period in the value of all other assets or liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period in other operating obligations not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period in the amount due to fund pension and non-pension benefits to employees, retired and disabled former employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash outflow (inflow) from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of pension and other (such as medical, dental and life insurance) postretirement benefit costs recognized during the period for (1) defined benefit plans (periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain or loss on assets, prior service cost or credit, transition asset or obligation, and gain or loss due to settlements or curtailments) and for (2) defined contribution plans (to the extent that a plan's defined contributions to an individual's account are to be made for periods in which that individual renders services, the net cost for a period shall be the contribution called for in that period; if a plan calls for contributions for periods after an individual retires or terminates, the estimated cost shall be accrued during the employee's service period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow (outflow) from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from the stock plan during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to pay off an obligation from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow from the repayment of borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in case of liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Description of Business
|
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2010
|
|||||
Description of Business [Abstract] | |||||
Description of Business |
L-3 Communications Holdings, Inc. derives all of its operating
income and cash flows from its wholly-owned subsidiary, L-3
Communications Corporation (L-3 Communications). L-3
Communications Holdings, Inc. (L-3 Holdings and, together with
its subsidiaries, referred to herein as L-3 or the Company) is a
prime contractor in Command, Control, Communications,
Intelligence, Surveillance and Reconnaissance
(C3ISR)
systems, aircraft modernization and maintenance, and government
services. L-3 is also a leading provider of a broad range of
electronic systems used on military and commercial platforms.
The Company’s customers include the United States (U.S.)
Department of Defense (DoD) and its prime contractors,
U.S. Government intelligence agencies, the
U.S. Department of Homeland Security (DHS),
U.S. Department of State (DoS), U.S. Department of
Justice (DoJ), allied foreign governments, domestic and foreign
commercial customers and select other U.S. federal, state
and local government agencies.
The Company has the following four reportable segments:
(1) C3ISR,
(2) Government Services, (3) Aircraft Modernization
and Maintenance (AM&M), and (4) Electronic Systems.
Financial information with respect to each of the Company’s
reportable segments is included in Note 22.
C3ISR
provides products and services for the global ISR market,
C3
systems, networked communications systems and secure
communications products. The Company believes that these
products and services are critical elements for a substantial
number of major command, control and communication, intelligence
gathering and space systems. These products and services are
used to connect a variety of airborne, space, ground and
sea-based communication systems and are used in the
transmission, processing, recording, monitoring, and
dissemination functions of these communication systems.
Government Services provides a full range of engineering,
technical, analytical, information technology (IT), advisory,
training, logistics and support services to the DoD, DoS, DoJ,
and U.S. Government intelligence agencies and allied
foreign governments. AM&M provides modernization, upgrades
and sustainment, maintenance and logistics support services for
military and various government aircraft and other platforms.
The Company sells these services primarily to the DoD, the
Canadian Department of National Defense and other allied foreign
governments. Electronic Systems provides a broad range of
products and services, including components, products,
subsystems, systems, and related services to military and
commercial customers in several niche markets across several
business areas, including power & control systems,
electro-optic/infrared (EO/IR), microwave,
simulation & training, precision engagement, warrior
systems, security & detection, propulsion systems,
avionics and displays, telemetry & advanced
technology, undersea warfare, and marine services.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Describes the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Disclosures about the nature of operations need not be quantified; relative importance could be conveyed by use of terms such as "predominately", "about equally", or "major and other". This element is also referred to as "Business Description". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
|
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Summary of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies |
Basis of Presentation: The accompanying financial
statements comprise the consolidated financial statements of L-3
Holdings and L-3 Communications. L-3 Holdings’ only asset
is its investment in the common stock of L-3 Communications, its
wholly-owned subsidiary, and its only obligations are
(1) the 3% Convertible Contingent Debt Securities
(CODES) due 2035, which were issued by L-3 Holdings on
July 29, 2005, (2) its guarantee of borrowings under
the Revolving Credit Facility of L-3 Communications and
(3) its guarantee of other contractual obligations of L-3
Communications and its subsidiaries. L-3 Holdings’
obligations relating to the CODES have been jointly, severally,
fully and unconditionally guaranteed by L-3 Communications and
certain of its wholly-owned domestic subsidiaries. Accordingly,
such debt has been reflected as debt of L-3 Communications in
its consolidated financial statements in accordance with the
accounting standards for pushdown accounting. All issuances of
and conversions into L-3 Holdings’ equity securities,
including grants of stock options, restricted stock, restricted
stock units and performance units by L-3 Holdings to employees
and directors of L-3 Communications and its subsidiaries, have
been reflected in the consolidated financial statements of L-3
Communications. As a result, the consolidated financial
positions, results of operations and cash flows of L-3 Holdings
and L-3 Communications are substantially the same. See
Note 25 for additional information regarding the audited
financial information of L-3 Communications and its subsidiaries.
The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of
America (U.S. GAAP) requires management to make estimates
and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the
reported amounts of sales and costs of sales during the
reporting period. The most significant of these estimates and
assumptions relate to contract revenue, profit and loss
recognition, fair values of assets acquired and liabilities
assumed in business combinations, market values for inventories
reported at lower of cost or market, pension and post-retirement
benefit obligations, stock-based employee compensation expense,
income taxes, including the valuations of deferred tax assets,
litigation reserves and environmental obligations, accrued
product warranty costs, and the recoverability, useful lives and
valuation of recorded amounts of long-lived assets, identifiable
intangible assets and goodwill. Changes in estimates are
reflected in the periods during which they become known. Actual
amounts will differ from these estimates and could differ
materially.
During the quarter ended June 25, 2010, the Company made
certain reclassifications between its Government Services and
Electronic Systems reportable segments due to a re-alignment of
a business unit in the Company’s management and
organizational structure. See Note 22 for the prior period
amounts reclassified between reportable segments.
Certain other reclassifications have been made to conform
prior-year amounts to the current-year presentation.
Principles of Consolidation: The consolidated
financial statements of the Company include all wholly-owned and
majority-owned subsidiaries. All significant intercompany
transactions are eliminated in consolidation. Investments in
equity securities, joint ventures and limited liability
corporations over which the Company has significant influence
but does not have voting control are accounted for using the
equity method. Investments over which the Company does not have
significant influence are accounted for using the cost method.
Revenue Recognition: The majority of the
Company’s contracts are generally fixed price, cost-plus or
time-and-material
type contracts. Depending on the type of contract, sales and
profits are recognized based on: (1) a
Percentage-of-Completion
(POC) method of accounting, (2) allowable costs incurred
plus the estimated profit on those costs (cost-plus), or
(3) direct labor hours expended multiplied by the
contractual fixed rate per hour plus incurred costs for material
(time-and-material).
Sales and profits on fixed-price type contracts that are covered
by contract accounting standards are substantially recognized
using POC methods of accounting. Sales and profits on
fixed-price production contracts under which units are produced
and delivered in a continuous or sequential process are recorded
as units are delivered based on their contractual selling prices
(the
“units-of-delivery”
method). Sales and profits on each fixed-price production
contract under which units are not produced and delivered in a
continuous or sequential process, or under which a relatively
few number of units are produced, are recorded based on the
ratio of actual cumulative costs incurred to the total estimated
costs at completion of the contract, multiplied by the total
estimated contract revenue, less cumulative sales recognized in
prior periods (the
“cost-to-cost”
method). Under both POC methods of accounting, a single
estimated total profit margin is used to recognize profit for
each contract over its entire period of performance, which can
exceed one year. Losses on contracts are recognized in the
period in which they become evident. The impact of revisions of
contract estimates, which may result from contract
modifications, performance or other reasons, are recognized on a
cumulative
catch-up
basis in the period in which the revisions are made.
Sales and profits on cost-plus type contracts that are covered
by contract accounting standards are recognized as allowable
costs are incurred on the contract, at an amount equal to the
allowable costs plus the estimated profit on those costs. The
estimated profit on a cost-plus type contract is fixed or
variable based on the contractual fee arrangement. Incentive and
award fees are the primary variable fee contractual
arrangements. Incentive and award fees on cost-plus type
contracts are included as an element of total estimated contract
revenues and are recorded to sales when a basis exists for the
reasonable prediction of performance in relation to established
contractual targets and the Company is able to make reasonably
dependable estimates for them.
Sales and profits on
time-and-material
type contracts are recognized on the basis of direct labor hours
expended multiplied by the contractual fixed rate per hour, plus
the actual costs of materials and other direct non-labor costs.
Sales on arrangements for (1) fixed-price type contracts
that require us to perform services that are not related to the
production of tangible assets (Fixed-Price Service Contracts)
and (2) certain commercial customers are recognized in
accordance with revenue recognition accounting standards for
revenue arrangements with commercial customers. Sales for the
Company’s businesses whose customers are primarily
commercial business enterprises are substantially all generated
from single element revenue arrangements. Sales are recognized
when there is persuasive evidence of an arrangement, delivery
has occurred or services have been performed, the selling price
to the buyer is fixed or determinable and collectability is
reasonably assured. Sales for Fixed-Price Service Contracts that
do not contain measurable units of work performed are generally
recognized on a straight-line basis over the contractual service
period, unless evidence suggests that the revenue is earned, or
obligations fulfilled, in a different manner. Sales for
Fixed-Price Service Contracts that contain measurable units of
work performed are generally recognized when the units of work
are completed. Sales and profit on cost-plus and
time-and-material
type contracts to perform services are recognized in the same
manner as those within the scope of contract accounting
standards, except for incentive and award fees. Cost-based
incentive fees are recognized when they are realizable in the
amount that would be due under the contractual termination
provisions as if the contract was terminated. Performance based
incentive fees and award fees are recorded as sales when awarded
by the customer.
For contracts with multiple deliverables, the Company applies
the separation and allocation guidance under the accounting
standard for revenue arrangements with multiple deliverables,
unless all the deliverables are covered by contract accounting
standards, in which case the Company applies the separation and
allocation guidance under contract accounting standards. Revenue
arrangements with multiple deliverables are evaluated to
determine if the deliverables should be separated into more than
one unit of accounting. The Company recognizes revenue for each
unit of accounting based on the revenue recognition policies
discussed above.
Sales and profit in connection with contracts to provide
services to the U.S. Government that contain collection
risk because the contracts are incrementally funded and subject
to the availability of funds appropriated, are deferred until a
contract modification is obtained, indicating that adequate
funds are available to the contract or task order.
Research and Development: Independent research and
development (IRAD) costs sponsored by the Company and bid and
proposal (B&P) costs relate to both U.S. Government
products and services and those for commercial and international
customers. The IRAD and B&P costs for the Company’s
businesses that are U.S. Government contractors are
recoverable indirect contract costs that are allocated to our
U.S. Government contracts in accordance with
U.S. Government procurement regulations, and are
specifically excluded from research and development accounting
standards. The Company includes IRAD and B&P costs
allocated to U.S. Government contracts in inventoried
contract costs, and charges them to costs of sales when the
related contract sales are recognized as revenue. Research and
development costs for the Company’s businesses that are not
U.S. Government contractors are accounted for in accordance
with research and development accounting standards and are
expensed as incurred to cost of sales.
Customer-funded research and development costs are incurred
pursuant to contracts (revenue arrangements) to perform research
and development activities according to customer specifications.
These costs are not accounted for as research and development
expenses, and are also not indirect contract costs. Instead,
these costs are direct contract costs and are expensed to cost
of sales when the corresponding revenue is recognized, which is
generally as the research and development services are
performed. Customer-funded research and development costs are
substantially all incurred under cost-plus type contracts with
the U.S. Government.
Product Warranties: Product warranty costs are
accrued when revenue is recognized for the covered products.
Product warranty expense is recognized based on the terms of the
product warranty and the related estimated costs. Accrued
warranty costs are reduced as product warranty costs are
incurred.
The table below presents the changes in the Company’s
accrued product warranty costs.
Deferred Debt Issue Costs: Costs to issue
debt are capitalized and deferred when incurred, and
subsequently amortized to interest expense over the term of the
related debt using the effective interest rate method.
Stock-Based Compensation: The Company follows
the fair value based method of accounting for stock-based
employee compensation, which requires the Company to expense all
stock-based employee compensation. Stock-based employee
compensation is primarily a non-cash expense because the Company
settles these obligations by issuing shares of L-3 Holdings
common stock instead of settling such obligations with cash
payments, except for certain performance unit awards that are
payable in cash.
Compensation expense for all restricted stock, restricted stock
unit and stock option awards is recognized on a straight-line
basis over the requisite service period for the entire award
based on the grant date fair value. All of the stock options
granted to employees by the Company are non-qualified stock
options under U.S. income tax regulations. Compensation
expense for performance units payable in L-3 Holdings common
stock are based on the fair value of the units at the grant date
(measurement date), adjusted each reporting period for progress
towards the target award, and recognized on a straight line
basis over the requisite service period. Compensation expense
for performance units that are payable in cash is based on a
binomial valuation technique (the Monte Carlo valuation model)
adjusted for historical performance each reporting period and
recognized on a straight-line basis over the requisite service
period.
Income Taxes: The Company provides for income
taxes using the liability method. Deferred income tax assets and
liabilities reflect tax carryforwards and the net tax effects of
temporary differences between the carrying amounts of assets and
liabilities for financial reporting and income tax purposes, as
determined under enacted tax laws and rates. The effect of
changes in tax laws or rates is accounted for in the period of
enactment. Valuation allowances for deferred tax assets are
provided when it is more likely than not that the assets will
not be realized, considering, when appropriate, tax planning
strategies.
Income tax accounting standards prescribe (1) a minimum
recognition threshold that an income tax benefit arising from an
uncertain income tax position taken, or expected to be taken, on
an income tax return is required to meet before being recognized
in the financial statements and (2) the measurement of the
income tax benefits recognized from such positions. The
Company’s accounting policy is to classify uncertain income
tax positions that are not expected to be resolved in one year
as non-current income tax liabilities and to classify potential
interest and penalties on uncertain income tax positions as
elements of the provision for income taxes on its financial
statements.
Cash and Cash Equivalents: Cash equivalents
consist of highly liquid investments with an original maturity
of three months or less at the time of purchase.
Contracts in Process: Contracts in process
include unbilled contract receivables and inventoried contract
costs for which sales and profits are recognized using a POC
method of accounting. Unbilled Contract Receivables represent
accumulated incurred costs and earned profits or losses on
contracts in process that have been recorded as sales, primarily
using the
cost-to-cost
method, which have not yet been billed to customers. Inventoried
Contract Costs represent incurred costs on contracts in process
that have not yet been recognized as costs and expenses because
the related sales, which are primarily recorded using the
units-of-delivery
method, have not been recognized. Contract costs include direct
costs and indirect costs, including overhead costs. As discussed
in Note 5, the Company’s inventoried contract costs
for U.S. Government contracts, and contracts with prime
contractors or subcontractors of the U.S. Government
include allocated general and administrative costs (G&A),
IRAD costs and B&P costs. Contracts in Process contain
amounts relating to contracts and programs with long performance
cycles, a portion of which may not be realized within one year.
For contracts in a loss position, the unrecoverable costs
expected to be incurred in future periods are recorded in
Estimated Costs in Excess of Estimated Contract Value to
Complete Contracts in Process in a Loss Position, which is a
component of Other Current Liabilities. Under the terms of
certain revenue arrangements (contracts) with the
U.S. Government, the Company may receive progress payments
as costs are incurred or milestone payments as work is
performed. The U.S. Government has a security interest in
the Unbilled Contract Receivables and Inventoried Contract Costs
to which progress payments have been applied, and such progress
payments are reflected as a reduction of the related amounts.
Milestone payments that have been received in excess of contract
costs incurred and related estimated profits are reported on the
Company’s balance sheet as Advance Payments and Billings in
Excess of Costs Incurred.
The Company values its acquired contracts in process in
connection with business acquisitions on the date of acquisition
at contract value less the Company’s estimated costs to
complete the contract and a reasonable profit allowance on the
Company’s completion effort commensurate with the profit
margin that the Company earns on similar contracts.
Inventories: Inventories, other than
Inventoried Contract Costs, are stated at cost
(first-in,
first-out or average cost), but not in excess of realizable
value. A provision for excess or inactive inventory is recorded
based upon an analysis that considers current inventory levels,
historical usage patterns and future sales expectations.
Property, Plant and Equipment: Property,
plant and equipment are stated at cost, less accumulated
depreciation. Depreciation is computed by applying principally
the straight-line method to the estimated useful lives of the
related assets. Useful lives range substantially from 10 to
40 years for buildings and improvements and 3 to
10 years for machinery, equipment, furniture and fixtures.
Leasehold improvements are amortized over the shorter of the
lease term or the estimated useful life of the improvements.
When property or equipment is retired or otherwise disposed of,
the net book value of the asset is removed from the
Company’s balance sheet and the net gain or loss is
included in the determination of operating income. Property,
plant and equipment acquired as part of a business acquisition
is valued at fair value.
Goodwill: The carrying value of goodwill and
indefinite lived identifiable intangible assets are not
amortized, but are tested for impairment annually as of November
30 as well as whenever events or changes in circumstances
indicate that the carrying amount of these assets may not be
recoverable using a two-step process for each reporting unit.
The first step in the process is to identify any potential
impairment by comparing the carrying value of a reporting unit
and its fair value. The Company determines the fair value of its
reporting units using a discounted cash flows valuation
approach. If a potential impairment is identified, the second
step is to measure the impairment loss by comparing the implied
fair value of goodwill with the carrying value of goodwill of
the reporting unit. There were no impairment charges that
resulted from the annual impairment assessment or change in
circumstances during 2010, 2009, or 2008.
Identifiable Intangible Assets: Identifiable
intangible assets represent assets acquired as part of the
Company’s business acquisitions and include customer
contractual relationships, technology, favorable leasehold
interests and trade names. The initial measurement of these
intangible assets is based on their fair values. Identifiable
intangible assets are amortized over their estimated useful
lives as the economic benefits are consumed, ranging from 4 to
30 years.
Derivative Financial Instruments: The
Company’s derivative financial instruments include foreign
currency forward contracts, which are entered into for risk
management purposes, and an embedded derivative representing the
contingent interest payment provision related to the CODES.
The Company’s U.S. and foreign businesses enter into
contracts with customers, subcontractors or vendors that are
denominated in currencies other than their functional
currencies. To protect the functional currency equivalent cash
flows associated with certain of these contracts, the Company
enters into foreign currency forward contracts. The
Company’s activities involving foreign currency forward
contracts are designed to hedge the changes in the functional
currency equivalent cash flows due to movements in foreign
exchange rates compared to the functional currency. The foreign
currencies hedged are primarily the Canadian dollar, the Euro,
the British pound and the U.S. dollar. The Company manages
exposure to counterparty non-performance credit risk by entering
into foreign currency forward contracts only with major
financial institutions that are expected to fully perform under
the terms of such contracts. Foreign currency forward contracts
are recorded in the Company’s Consolidated Balance Sheets
at fair value and are generally designated and accounted for as
cash flow hedges in accordance with the accounting standards for
derivative instruments and hedging activities. Gains and losses
on designated foreign currency forward contracts that are highly
effective in offsetting the corresponding change in the cash
flows of the hedged transactions are recorded net of income
taxes in accumulated other comprehensive income (loss)
(accumulated OCI) and then recognized in income when the
underlying hedged transaction affects income. Gains and losses
on foreign currency forward contracts that do not meet hedge
accounting criteria are recognized in income immediately.
The embedded derivative related to the issuance of the CODES is
recorded at fair value with changes reflected in the
Consolidated Statements of Operations.
Translation of Foreign Currency and Foreign Currency
Transactions: Transactions in foreign currencies are
translated into the local (functional) currency of the
respective business at the approximate prevailing rate at the
time of the transaction. Foreign exchange transaction gains and
losses in the years ended December 31, 2010, 2009 and 2008
are not material to the Company’s results of operations.
The operations of the Company’s foreign subsidiaries are
translated from the local (functional) currencies into
U.S. dollars using weighted average rates of exchange
during each reporting period. The rates of exchange at each
balance sheet date are used for translating the assets and
liabilities of the Company’s foreign subsidiaries. Gains or
losses resulting from these translation adjustments are included
in the accompanying Consolidated Balance Sheets as a component
of accumulated other comprehensive income (loss).
Accounting Standards Issued and Not Yet Implemented:
In October 2009, the Financial Accounting Standards
Board (FASB) issued a revised accounting standard for revenue
arrangements with multiple deliverables. The revision:
(1) removes the
objective-and-reliable-evidence-of-fair-value
criterion from the separation criteria used to determine whether
an arrangement involving multiple deliverables contains more
than one unit of accounting, (2) provides a hierarchy that
entities must use to estimate the selling price,
(3) eliminates the use of the residual method for
allocation, and (4) expands the ongoing disclosure
requirements. The revised accounting standard is effective for
the Company beginning on January 1, 2011, and is not
expected to have a material impact on the Company’s
financial position, results of operations or cash flows.
In October 2009, the FASB issued a revised accounting standard
for certain revenue arrangements that include software elements.
Under the revised standard, tangible products that contain both
software and non-software components that work together to
deliver a product’s essential functionality are excluded
from the scope of pre-existing software revenue recognition
standards. In addition, hardware components of a tangible
product containing software components are excluded from the
scope of software revenue recognition standards. The revised
accounting standard is effective for the Company beginning on
January 1, 2011, and is not expected to have a material
impact on the Company’s financial position, results of
operations or cash flows.
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- Definition
This element may be used to describe all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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New Accounting Standards Implemented
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New Accounting Standards Implemented [Abstract] | |||||
New Accounting Standards Implemented |
In June 2009, the FASB issued a revised standard for the
accounting for variable interest entities (VIE), which replaces
the quantitative-based risks and rewards approach with a
qualitative approach and requires certain additional
disclosures. The new qualitative approach focuses on determining
which entity has the power and control to direct the activities
of a VIE and requires an ongoing assessment of that conclusion.
The revised accounting standard was effective for the Company
beginning on January 1, 2010 and did not have a material
impact on the Company’s financial position, results of
operations or cash flows.
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- Definition
Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. Also disclose any change in the method of applying an accounting principle, or any change in an accounting principle required by a new pronouncement in the unusual instance that a new pronouncement does not include specific transition provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions and Dispositions
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Acquisitions and Dispositions |
All of the business acquisitions are included in the
Company’s results of operations from their respective dates
of acquisition.
2010
Business Acquisitions
During the year ended December 31, 2010, in separate
transactions, the Company acquired four businesses for an
aggregate purchase price of $755 million, which were
financed with cash on hand. Based on preliminary and final
purchase price allocations, the aggregate goodwill recognized
for these businesses was $530 million, of which
$472 million is expected to be deductible for income tax
purposes. The goodwill was assigned to the Electronic Systems
reportable segment. The Company also recognized identifiable
intangible assets of $153 million in the aggregate, which
consisted of $71 million for customer relationships,
$67 million for technology, and $15 million for other
identifiable intangible assets, primarily trade names. The
identifiable intangible assets will be amortized over a weighted
average useful life of 15 years. Customer relationships,
technology and the other identifiable intangible assets will be
amortized over their weighted average useful lives of
18 years, 12 years, and 16 years, respectively. A
description of each business acquisition made by the Company
during the year ended December 31, 2010 is listed below:
At December 31, 2010, the purchase prices for Insight and
ATI have been finalized and the Insight purchase price
allocation has been completed. The final purchase price for 3Di
and FUNA is subject to adjustment based on the closing date
actual net assets. The final purchase price allocations for the
ATI, 3Di, and FUNA business acquisitions are expected to be
completed by the second quarter of 2011 and will be based on the
final purchase prices and final appraisals and other analyses of
fair values for acquired assets and assumed liabilities. The
Company does not expect any of the differences
between the preliminary and final purchase price allocations to
have a material impact on its results of operations or final
position.
2009
Business Acquisition
On January 30, 2009, the Company acquired all of the
outstanding stock of Chesapeake Sciences Corporation (CSC) for a
purchase price of $91 million in cash, which includes a
$7 million net working capital adjustment, of which
$6 million was for cash acquired, and a $4 million
adjustment related to certain tax benefits acquired. The
acquisition was financed using cash on hand. CSC is a developer
and manufacturer of anti-submarine warfare systems for use
onboard submarines and surface ship combatants. Based on the
final purchase price allocation, the amount of goodwill
recognized was $56 million, which was assigned to the
Electronic Systems reportable segment, and is not expected to be
deductible for income tax purposes.
2008
Business Acquisitions
During the year ended December 31, 2008, in separate
transactions, the Company acquired four businesses and increased
its ownership interest in a subsidiary for an aggregate purchase
price of $264 million in cash, plus acquisition costs.
These acquisitions were all financed with cash on hand. Based on
preliminary and final purchase price allocations, the aggregate
goodwill recognized for these businesses and increase in
ownership interest was $191 million, of which
$86 million is expected to be deductible for income tax
purposes. The goodwill was assigned to the reportable segments
listed below:
In certain instances, the purchase price is subject to
adjustment based on post-acquisition financial performance not
to exceed an aggregate amount of $1 million, as discussed
below. Any such additional consideration will be accounted for
as goodwill. A description of each business acquisition made by
the Company during 2008 is listed below:
The Company has completed the purchase price allocations for all
acquisitions made during 2008, except for those business
acquisitions in which the purchase price is subject to
adjustment, as described above. The final purchase price
allocations were based on the final purchase prices, including
the payment of contingent consideration, if any, and final
appraisals and other analyses of fair values. The final purchase
price allocations for these business acquisitions, compared to
their preliminary purchase price allocations, did not have a
material impact on the Company’s results of operations or
financial position.
Unaudited
Pro Forma Statements of Operations Data
The following unaudited pro forma Statements of Operations data
presents the combined results of the Company and its business
acquisitions completed during the years ended December 31,
2010, 2009 and 2008, assuming that the business acquisitions
completed during 2010 and 2009 had occurred on January 1,
2009, and that the business acquisitions completed during 2009
and 2008 had occurred on January 1, 2008.
The unaudited pro forma results disclosed in the table above are
based on various assumptions and are not necessarily indicative
of the results of operations that would have occurred had the
Company completed these acquisitions on the dates indicated
above.
2010
Business Disposition
On December 17, 2010, the Company divested the
InfraredVision Technology Corporation (ITC) business, which was
within the Electronic Systems reportable segment. The
divestiture resulted in an after-tax loss of less than
$1 million. The annual revenues of approximately
$4 million, operating results and net assets of ITC were
not material for any period presented and, therefore, the ITC
divestiture is not reported as a discontinued operation. The net
proceeds from the sale are included in investing activities on
the Consolidated Statement of Cash Flows.
2008
Business and Product Line Dispositions
On October 8, 2008, the Company divested its 85% ownership
interest in METI, which was within the Electronic Systems
reportable segment. The sale resulted in an after-tax gain of
$20 million (pre-tax gain of $33 million), which was
excluded from income from continuing operations. The revenues,
operating results and net assets of METI were not material for
any period presented and, therefore, were not reported as a
discontinued operation.
On May 9, 2008, the Company sold the Electron Technologies
Passive Microwave Devices (PMD) product line, which was within
the Electronic Systems reportable segment, and recognized an
after-tax gain of approximately $7 million (pre-tax gain of
$12 million), which was recorded as a reduction of cost of
sales for products in the Consolidated Statement of Operations.
The net proceeds from the sale are included in investing
activities on the Consolidated Statement of Cash Flows.
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- Definition
Description of a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. This element may be used as a single block of text to encapsulate the entire disclosure (including data and tables) regarding business combinations, including leverage buyout transactions (as applicable). Also, includes acquisition pro forma information and financial information related to acquisitions and dispositions. No definition available.
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Contracts in Process
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Dec. 31, 2010
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Contracts in Process [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contracts in Process |
The components of contracts in process are presented in the
table below. The unbilled contract receivables, inventoried
contract costs and unliquidated progress payments are
principally related to contracts with the U.S. Government
and prime contractors or subcontractors of the
U.S. Government. Identifiable intangible assets related to
contracts in process assumed by the Company in its business
acquisitions and the underlying contractual customer
relationships are separately recognized at the date of
acquisition, and are discussed and presented in Note 7.
Unbilled Contract Receivables. Unbilled
contract receivables represent accumulated incurred costs and
earned profits on contracts (revenue arrangements), which have
been recorded as sales, but have not yet been billed to
customers. Unbilled contract receivables arise from the
cost-to-cost
method of revenue recognition that is used to record sales on
certain fixed-price contracts. Unbilled contract receivables
from fixed-price type contracts are converted to billed
receivables when amounts are invoiced to customers according to
contractual billing terms, which generally occur when deliveries
or other performance milestones are completed. Unbilled contract
receivables also arise from cost-plus type contracts and
time-and-material
type contracts, for revenue amounts that have not been billed by
the end of the accounting period due to the timing of
preparation of invoices to customers. The Company believes that
approximately 95% of the unbilled contract receivables at
December 31, 2010 will be billed and collected within one
year.
Unliquidated Progress Payments. Unliquidated
progress payments arise from fixed-price type contracts with the
U.S. Government that contain progress payment clauses, and
represent progress payments on invoices that have been collected
in cash, but have not yet been liquidated. Progress payment
invoices are billed to the customer as contract costs are
incurred at an amount generally equal to 75% to 80% of incurred
costs. Unliquidated progress payments are liquidated as
deliveries or other contract performance milestones are
completed, at an amount equal to a percentage of the contract
sales price for the items delivered or work performed, based on
a contractual liquidation rate. Therefore, unliquidated progress
payments are a contra asset account, and are classified against
unbilled contract receivables if revenue for the underlying
contract is recorded using the
cost-to-cost
method, and against inventoried contract costs if revenue is
recorded using the
units-of-delivery
method.
Inventoried Contract Costs. In accordance
with contract accounting standards, the Company accounts for the
portion of its G&A, IRAD and B&P costs that are
allowable and reimbursable indirect contract costs under
U.S. Government procurement regulations on its
U.S. Government contracts (revenue arrangements) as
inventoried contract costs. G&A, IRAD and B&P costs
are allocated to contracts for which the U.S. Government is
the end customer and are charged to costs of sales when sales on
the related contracts are recognized. The Company’s
unallowable portion of its G&A, IRAD and B&P costs for
its U.S. Government contractor businesses are expensed as
incurred and are not included in inventoried contract costs.
The table below presents a summary of G&A, IRAD and
B&P costs included in inventoried contract costs and the
changes to them, including amounts charged to cost of sales by
the Company’s U.S. Government contractor businesses for the
periods presented.
The table below presents a summary of selling, general and
administrative expenses and research and development expenses
for the Company’s commercial businesses, which are expensed
as incurred and not included in inventoried contracts costs.
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X | ||||||||||
- Definition
Includes inventoried contract costs, unbilled receivables, and unliquidated progress payment amounts capitalized and descriptions for long-term contracts. Separately, includes Selling, General, and Administrative costs and Research and Development costs related to commercial businesses incurred and expensed during the period. No definition available.
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Inventories
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Dec. 31, 2010
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Inventories [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories |
Inventories at Lower of Cost or Market. The table
below presents the components of inventories at cost
(first-in,
first-out or average cost), but not in excess of realizable
value.
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X | ||||||||||
- Definition
This element represents the complete disclosure related to inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income (excluding inventoried contract costs already included in CIP). No definition available.
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Goodwill and Identifiable Intangible Assets
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Dec. 31, 2010
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Goodwill and Identifiable Intangible Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Identifiable Intangible Assets |
Goodwill. In accordance with the accounting
standards for business combinations, the Company records the
assets acquired and liabilities assumed based on their estimated
fair values at the date of acquisition (commonly referred to as
the purchase price allocation). As part of the purchase price
allocations for the Company’s business acquisitions,
identifiable intangible assets are recognized as assets apart
from goodwill if they arise from contractual or other legal
rights, or if they are capable of being separated or divided
from the acquired business and sold, transferred, licensed,
rented or exchanged. However, the Company does not recognize any
intangible assets apart from goodwill for the assembled
workforces of its business acquisitions. At December 31,
2010, the Company had approximately 63,000 employees, and
the substantial majority of the sales generated by the
Company’s businesses are from the productive labor efforts
of its employees, as compared to selling manufactured products
or
right-to-use
technology.
Generally, the largest intangible assets from the businesses
that the Company acquires are the assembled workforces,
which includes the human capital of the management,
administrative, marketing and business development, scientific,
engineering and technical employees of the acquired businesses.
The success of the Company’s businesses, including their
ability to retain existing business (revenue arrangements) and
to successfully compete for and win new business (revenue
arrangements), is primarily dependent on the management,
marketing and business development, contracting, engineering and
technical skills and knowledge of its employees, rather than on
productive capital (plant and equipment, and technology and
intellectual property). Additionally, for a significant portion
of its businesses, the Company’s ability to attract and
retain employees who have U.S. Government security
clearances, particularly those of top-secret and above, is
critical to its success, and is often a prerequisite for
retaining existing revenue arrangements and pursuing new ones.
Generally, patents, trademarks and licenses are not material for
the Company’s acquired businesses. Furthermore, the
Company’s U.S. Government contracts (revenue
arrangements) generally permit other companies to use the
Company’s patents in most domestic work performed by such
other companies for the U.S. Government. Therefore, because
intangible assets for assembled workforces are part of goodwill
in accordance with the accounting standards for business
combinations, the substantial majority of the intangible assets
for the Company’s business acquisitions is recognized as
goodwill. Additionally, the value assigned to goodwill for the
Company’s business acquisitions also includes the value
that the Company expects to realize from cost reduction measures
that it implements for its acquired businesses.
The table below presents the changes in goodwill allocated to
the Company’s reporting units in each reportable segment.
For the year ended December 31, 2010, the increase of
$530 million related to business acquisitions completed
during the year ended December 31, 2010. The decrease of
$2 million related to the sale of InfraredVision Technology
Corporation completed on December 17, 2010.
For the year ended December 31, 2009, the increase of
$64 million related to business acquisitions was comprised
of (1) an increase of $56 million for a business
acquisition completed during the year ended December 31,
2009, (2) an increase of $4 million primarily for
earnouts related to certain business acquisitions completed
prior to January 1, 2009, and (3) an increase of
$4 million related to final purchase price determinations
for certain business acquisitions completed prior to
January 1, 2009.
Identifiable Intangible Assets. The most significant
identifiable intangible asset that is separately recognized for
the Company’s business acquisitions is customer contractual
relationships. All of the Company’s customer relationships
are
established through written customer contracts (revenue
arrangements). The fair value for customer contractual
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 (including
cash flows for working capital) arising from the follow-on sales
on contract (revenue arrangement) renewals expected from the
customer contractual relationships over their estimated lives,
including the probability of expected future contract renewals
and sales, less a contributory assets charge, all of which is
discounted to present value.
Information on the Company’s identifiable intangible assets
that are subject to amortization is presented in the table below.
Amortization expense recorded by the Company for its
identifiable intangible assets is presented in the table below.
Based on gross carrying amounts at December 31, 2010, the
Company’s estimate of amortization expense for identifiable
intangible assets for the years ending December 31, 2011
through 2015 are presented in the table below.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Current Liabilities and Other Liabilities
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Dec. 31, 2010
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Other Current Liabilities and Other Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Current Liabilities and Other Liabilities |
The table below presents the components of other current
liabilities.
The table below presents the components of other liabilities.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Other current liabilites includes accruals for pending and threatened litigation, accrued product warranty costs, accrued interest, estimated costs in excess of estimated contract value to complete contracts in process in a loss position, deferred revenues, aggregate purchase price payable for acquired businesses and other. Other liabilities includes non-current income taxes payable, deferred compensation, accrued workers compensation, unfavorable lease obligations, non-current portion of net deferred gains from terminated interest rate swap agreements, notes payable and capital lease obligations, accrued product warranty costs, and other non-current liabilities. No definition available.
|
Property, Plant and Equipment
|
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Dec. 31, 2010
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Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment |
|
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|
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- Definition
Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt |
The components of debt and a reconciliation to the carrying
amount of current and long-term debt are presented in the table
below.
L-3
Communications Revolving Credit Facility
On October 23, 2009, L-3 Communications replaced its
$1 billion Senior Credit Facility with a $1 billion
three-year Revolving Credit Facility maturing on
October 23, 2012. Borrowings under the new Revolving Credit
Facility bear interest, at L-3 Communications’ option, at
either (i) a “base rate” equal to the higher of
(a) 0.50% per annum above the latest federal funds rate,
(b) the Bank of America “prime rate” (as defined
in the Revolving Credit Facility), and (c) 1.00% per annum
above a “LIBOR rate” (as defined in the Revolving
Credit Facility), plus a spread ranging from 1.25% to 3.00% per
annum, or (ii) a “LIBOR rate” (as defined in the
Revolving Credit Facility) plus a spread ranging from 2.25% to
4.00% per annum. The spread, in both cases, depends on L-3
Communications’ debt rating at the time of determination.
L-3 Communications pays: (1) commitment fees calculated on
the daily amounts of the available unused commitments at a rate
ranging from 0.375% to 0.75% per annum, (2) letter of
credit fees ranging from 1.50% to 2.67% per annum for
performance and commercial letters of credit and (3) letter
of credit fees ranging from 2.25% to 4.00% for financial letters
of credit. The fee rate, in all cases, depends on L-3
Communications’ debt rating at the time of determination.
The debt rating is based on the credit ratings as determined by
Standard & Poor’s Rating Services, Moody’s
Investors Service, Inc. and Fitch Ratings of L-3
Communications’ non-credit enhanced senior, unsecured
long-term debt.
L-3
Communications Senior Notes
2010 Debt
Issuances and Redemptions
On May 21, 2010, L-3 Communications issued
$800 million in principal amount of 4.75% Senior Notes
that mature on July 15, 2020 (2020 Senior Notes) at a
discount of $3 million. The discount was recorded as a
reduction to the principal
amount of the notes and will be amortized as interest expense
over the term of the notes. The effective interest rate of the
2020 Senior Notes is 4.79%. Interest on the 2020 Senior Notes is
payable semi-annually on January 15 and July 15 of each year.
The net cash proceeds from this offering amounted to
approximately $790 million after deducting the discounts,
commissions and estimated expenses, and were used, together with
cash on hand, to redeem L-3 Communications’
$800 million in aggregate
61/8% Senior
Subordinated Notes due 2014 and 2013 on June 21 and
July 15, 2010, respectively. In connection with the
redemption of the
61/8% Senior
Subordinated Notes due 2014 and 2013, the Company recorded debt
retirement charges of approximately $18 million
($11 million after income tax, or $0.10 per diluted share)
during the year ended December 31, 2010.
2009 Debt
Issuances and Redemptions
On October 2, 2009, L-3 Communications issued
$1 billion in aggregate principal amount of
5.20% Senior Notes due October 15, 2019 (2019 Senior
Notes) at a discount of $4 million. The discount was
recorded as a reduction to the principal amount of the notes and
will be amortized as an interest expense over the term of the
notes. The effective interest rate of the 2019 Senior Notes is
5.25%. Interest on the 2019 Senior Notes is payable
semi-annually on April 15 and October 15 of each year. The net
cash proceeds from this offering amounted to approximately
$987 million after deducting the discounts, commissions and
estimated expenses, and were used, together with cash on hand,
to redeem L-3 Communications’ $750 million
75/8% Senior
Subordinated Notes due in 2012 (2002 Notes) on November 2,
2009 and to repay L-3 Communications’ outstanding
$650 million Term Loan on October 7, 2009. In
connection with the redemption of the 2002 Notes, the Company
recorded a debt retirement charge of approximately
$10 million ($6 million after income tax).
2011 Debt
Issuances and Redemptions
On February 7, 2011, L-3 Communications issued
$650 million in principal amount of 4.95% Senior Notes
that mature on February 15, 2021 (2021 Senior Notes) at a
discount of $4 million. The discount was recorded as a
reduction to the principal amount of the notes and will be
amortized as interest expense over the term of the notes. The
effective interest rate of the 2021 Senior Notes is 5.02%.
Interest on the 2021 Senior Notes is payable semi-annually on
February 15 and August 15 of each year. The net cash proceeds
from this offering amounted to approximately $640 million
after deducting the discounts, commissions and estimated
expenses. We will use the net proceeds, together with cash on
hand, to redeem L-3 Communications’ $650 million
57/8% Senior
Subordinated Notes due 2015 (2015 Notes). The redemption price
is 101.958% of the principal amount, plus accrued and unpaid
interest up to, but not including, March 9, 2011, the
redemption date. In connection with the redemption of the 2015
Notes, the Company will record a debt retirement charge in the
2011 first quarter of $18 million ($11 million after
income tax, or $0.10 per diluted share).
The 2019, 2020, and 2021 Senior Notes (collectively the Senior
Notes) are unsecured senior obligations of L-3 Communications.
The Senior Notes may be redeemed at any time prior to their
maturity at the option of L-3 Communications, in whole or in
part, at a redemption price equal to the greater of:
(1) 100% of the principal amount, or (2) the present
value of the remaining principal and interest payments
discounted to the date of redemption, on a semi-annual basis, at
the Treasury Rate (as defined in the Indenture dated as of
October 2, 2009 (the Senior Indenture)), plus 0.25% for the
2020 and 2021 Senior Notes and 0.30% for the 2019 Senior Notes.
Upon the occurrence of a change in control (as defined in the
Senior Indenture), each holder of the notes will have the right
to require L-3 Communications to repurchase all or any part of
such holder’s notes at an offer price in cash equal to 101%
of the aggregate principle amount plus accrued and unpaid
interest and special interest (as defined in the Senior
Indenture), if any, to the date of the purchase.
L-3
Communications Senior Subordinated Notes
The Senior Subordinated Notes, which are included as components
of long-term debt in the table above, are general unsecured
obligations of L-3 Communications and are subordinated in right
of payment to all existing and future senior debt of L-3
Communications. The terms of each outstanding Senior
Subordinated Note are presented in the table below.
L-3
Holdings
On July 29, 2005, L-3 Holdings sold $600 million of
3% Convertible Contingent Debt Securities (CODES) due
August 1, 2035. Interest is payable semi-annually on
February 1 and August 1 of each year. On August 4, 2005,
L-3 Holdings sold an additional $100 million of CODES,
pursuant to an over-allotment option exercised by the initial
purchasers of the CODES. Effective January 1, 2009, the
Company is separately accounting for the liability and equity
(conversion option) components of the CODES in a manner that
reflects the Company’s non-convertible debt borrowing rate
when interest expense is realized in accordance with the
provisions of the accounting standard for convertible debt. The
effective interest rate of the CODES is 6.33%. Interest expense
relates to both the contractual coupon interest and amortization
of the discount on the liability components. Interest expense
recognized was $43 million and $42 million for the
years ended December 31, 2010 and December 31, 2009,
respectively. The following table provides additional
information about the Company’s CODES:
The CODES are convertible into cash and shares of L-3
Holdings’ common stock based on a conversion rate of
10.1074 shares of L-3 Holdings common stock per one
thousand dollars in principal amount of the CODES (equivalent to
a conversion price of $98.94 per share) only under the following
circumstances: (1) prior to August 1, 2033, on any
date during any fiscal quarter (and only during such fiscal
quarter) beginning after September 30, 2005, if the closing
sales price of the common stock of L-3 Holdings is more than
120% of the then current conversion price (currently $118.73)
for at least 20 trading days in the 30 consecutive
trading-day
period ending on the last trading day of the previous fiscal
quarter; (2) on or after August, 1, 2033, at all times on
or after any date on which the closing sale price of the common
stock of L-3 Holdings is more than 120% of the then current
conversion price (currently $118.73); (3) if we distribute
to all holders of our common stock, rights or warrants (other
than pursuant to a rights plan) entitling them to purchase, for
a period of 45 calendar days or less, shares of L-3
Holdings’ common stock at a price less than the average
closing sales
price for the ten trading days preceding the declaration date
for such distribution; (4) if we distribute to all holders
of our common stock, cash and other assets, debt securities or
rights to purchase L-3 Holdings’ securities (other than
pursuant to a rights plan), which distribution has a per share
value exceeding 10% of the closing sale price of L-3 Holdings
common stock on the trading day preceding the declaration date
for such distribution; (5) during the five consecutive
business-day
period following any five consecutive
trading-day
period in which the average trading price of the CODES was less
than 98% of the average of the closing sale price of L-3
Holdings common stock during such five trading day period
multiplied by the then current conversion rate; (6) during
a specified period if the CODES have been called for redemption;
or (7) during a specified period if a “fundamental
change” (as such term is defined in the indenture governing
the CODES) occurs. The conversion rate is subject to adjustments
in certain circumstances set forth in the indenture governing
the CODES. For the year ended December 31, 2010, the
conversion feature of the CODES had no impact on diluted
earnings per share (EPS) (see Note 16).
Upon conversion of the CODES, the settlement amount will be
computed as follows: (1) if L-3 Holdings elects to satisfy
the entire conversion obligation in cash, L-3 Holdings will
deliver to the holder for each one thousand dollars in principal
amount of the CODES converted cash in an amount equal to the
conversion value; or (2) if L-3 Holdings elects to satisfy
the conversion obligation in a combination of cash and common
stock, L-3 Holdings will deliver to the holder for each one
thousand dollars in principal amount of the CODES converted
(x) cash in an amount equal to (i) the fixed dollar
amount per one thousand dollars in principal amount of the CODES
of the conversion obligation to be satisfied in cash specified
in the notice regarding L-3 Holdings’ chosen method of
settlement or, if lower, the conversion value, or (ii) the
percentage of the conversion obligation to be satisfied in cash
specified in the notice regarding L-3 Holdings chosen method of
settlement multiplied by the conversion value, as the case may
be (the “cash amount”); provided that in either case
the cash amount shall in no event be less than the lesser of
(a) the principal amount of the CODES converted and
(b) the conversion value; and (y) a number of shares
of common stock of L-3 Holdings for each of the 20 trading days
in the conversion period equal to 1/20th of (i) the
conversion rate then in effect minus (ii) the quotient of
the cash amount divided by the closing price of common stock of
L-3 Holdings for that day (plus cash in lieu of fractional
shares, if applicable).
The CODES are senior unsecured obligations of L-3 Holdings and
rank equal in right of payment with all existing and future
senior indebtedness and senior to all future senior subordinated
indebtedness of L-3 Holdings. The CODES are jointly and
severally guaranteed on a senior subordinated basis by the
existing and future domestic subsidiaries of L-3 Holdings that
guarantee any other indebtedness of L-3 Holdings or any of its
domestic subsidiaries.
At any time on or after February 1, 2011, the CODES are
subject to redemption at the option of L-3 Holdings, in whole or
in part, at a cash redemption price (plus accrued and unpaid
interest, including contingent interest and additional interest,
if any) equal to 100% of the principal amount of the CODES.
On February 2, 2011,
L-3 Holdings
repurchased approximately $11 million of the CODES as a
result of the exercise by the holders of their contractual right
to require L-3 Holdings to repurchase their CODES. Holders of
the remaining CODES may require L-3 Holdings to repurchase the
CODES, in whole or in part, on February 1, 2016,
February 1, 2021, February 1, 2026 and
February 1, 2031 at a cash repurchase price equal to 100%
of the principal amount of the CODES (plus accrued and unpaid
interest, including contingent interest and additional interest,
if any). In addition, holders of the CODES may require L-3
Holdings to repurchase the CODES at a repurchase price equal to
100% of the principal amount of the CODES (plus accrued and
unpaid interest, including contingent interest and additional
interest, if any) if a “fundamental change” occurs
prior to maturity of the CODES. At December 31, 2010, the
$11 million of repurchased CODES are classified as a current
liability and the remaining $689 million principal amount
of CODES are classified as long-term debt.
Holders of the CODES have a right to receive contingent interest
payments, which will be paid on the CODES during any six-month
period commencing February 1, 2011 in which the trading
price of the CODES for each of the five trading
days ending on the second trading day preceding the first day of
the applicable six-month interest period equals or exceeds 120%
of the principal amount of the CODES. The contingent interest
payable per one thousand dollars in principal amount of CODES
will equal 0.25% of the average trading price of one thousand
dollars in principal amount of CODES during the five trading
days ending on the second trading day preceding the first day of
the applicable six-month interest period. The contingent
interest payment provision has been accounted for as an embedded
derivative. The amount assigned to the embedded derivative is
adjusted periodically through other income (expense) for changes
in its fair value, if any.
Guarantees
L-3
Communications
The borrowings under the Revolving Credit Facility are fully and
unconditionally guaranteed by L-3 Holdings and by substantially
all of the material wholly-owned domestic subsidiaries of L-3
Communications on an unsecured senior basis. The payment of
principal and premium, if any, and interest on the Senior Notes
are fully and unconditionally guaranteed, on an unsecured senior
basis, jointly and severally, by
L-3 Communications’
material wholly-owned domestic subsidiaries that guarantee any
of its other indebtedness. The payment of principal and premium,
if any, and interest on the
57/8% Senior
Subordinated Notes due 2015 and
63/8% Senior
Subordinated Notes due 2015 (collectively the Senior
Subordinated Notes) are fully and unconditionally guaranteed, on
an unsecured senior subordinated basis, jointly and severally,
by L-3 Communications’ wholly-owned domestic subsidiaries
that guarantee any of its other liabilities.
L-3
Holdings
The payment of principal and premium, if any, and interest on
the CODES are fully and unconditionally guaranteed, on an
unsecured senior subordinated basis, jointly and severally, by
L-3 Communications and its wholly-owned domestic subsidiaries
that guarantee any of its other liabilities.
Subordination
The guarantees of the Revolving Credit Facility and the Senior
Notes rank senior to the guarantees of the Senior Subordinated
Notes and the CODES and rank pari passu with each other. The
guarantees of the Senior Subordinated Notes and CODES rank pari
passu with each other and are junior to the guarantees of the
Revolving Credit Facility and Senior Notes.
Covenants
Financial and other restrictive covenants. The
Revolving Credit Facility and Senior Subordinated Notes
indentures contain financial and other restrictive covenants
that limit, among other things, the ability of the subsidiaries
of L-3 Communications to borrow additional funds, and the
ability of L-3 Communications and its subsidiaries to incur
liens, make investments, merge or consolidate, dispose of
assets, pay dividends or repurchase its common stock. The
Company’s Revolving Credit Facility contains covenants that
require that (1) the Company’s consolidated leverage
ratio be less than or equal to 4.0 to 1.0; (2) the
Company’s consolidated interest coverage ratio be greater
than or equal to 3.0 to 1.0; and (3) the Company’s
consolidated senior leverage ratio be less than or equal to 3.5
to 1.0, in each case, as of the end of any fiscal quarter.
Calculations of the financial covenants are to exclude, among
other things, certain items such as impairment losses on
goodwill or other intangible assets, non-cash gains or losses
from discontinued operations, gains or losses in connection with
asset dispositions, and gains or losses with respect to
judgments or settlements in connection with litigation matters.
As of December 31, 2010, the Company was in compliance with
its financial and other restrictive covenants.
The Senior Indenture contains covenants customary for investment
grade notes, including covenants that restrict the ability of
L-3 Communications and its wholly-owned domestic subsidiaries to
create, incur, assume or permit to exist any lien, except
permitted liens (as defined in the Senior Indenture) and
restrict the ability of L-3 Communications and its subsidiaries
to enter into certain sale and leaseback transactions (as
defined in the Senior Indenture).
The Senior Subordinated Notes indentures contain covenants that
restrict the ability of L-3 Communications to incur indebtedness
and issue capital stock that matures or is redeemable
91 days or less after the maturity date of such series of
notes, and the ability of its restricted subsidiaries to incur
indebtedness or issue preferred stock, unless the Company’s
fixed charge coverage ratio would have been at least 2.0 to 1.0
on a pro forma basis. The covenants are subject to several
material exceptions, including an exception for indebtedness
under the Company’s credit facilities up to a specified
amount.
Restricted Payments. L-3 Holdings relies on
dividends paid by L-3 Communications to generate the funds
necessary to pay dividends on and repurchase its common stock.
The Revolving Credit Facility contains provisions that limit the
ability of L-3 Communications to pay dividends, repurchase L-3
Holdings’ common stock or other distributions with respect
to any capital stock and make investments in L-3 Holdings.
However, the Revolving Credit Facility permits L-3
Communications to:
Disqualified preferred stock discussed above is stock, other
than common stock, that is not classified as a component of
shareholders’ equity on the balance sheet. At
December 31, 2010, L-3 Holdings and L-3 Communications did
not have any disqualified preferred stock.
The Senior Subordinated Notes indentures contain provisions that
limit the ability of L-3 Communications to pay dividends to L-3
Holdings and make investments in L-3 Holdings, subject to
exceptions. Subject to certain limitations, the
indentures permit L-3 Communications to make such restricted
payments so long as it would be able to incur at least one
dollar of additional indebtedness under the fixed charge
coverage ratio test described above and meet other conditions.
Cross default provisions. The Revolving Credit
Facility contains cross default provisions that are triggered
when a payment default occurs or certain other defaults occur
that would allow the acceleration of indebtedness, swap
contracts or guarantees of L-3 Holdings, L-3 Communications or
its subsidiaries, so long as the aggregate amount of such
indebtedness, swap contracts or guarantees is at least
$50 million and such defaults (other than payment defaults
and defaults that have resulted in acceleration) have not been
cured within 10 days. The Senior Subordinated Notes
indentures contain cross acceleration provisions that are
triggered when holders of the indebtedness of L-3 Holdings,
L-3 Communications
or their restricted subsidiaries (or the payment of which is
guaranteed by such entities) accelerate at least
$10 million in aggregate principal amount of those
obligations. The Senior Notes indenture contains a cross
acceleration provision that is triggered when a default or
acceleration occurs under any indenture or instrument of L-3
Communications or its subsidiaries or the payment of which is
guaranteed by L-3 Communications or its subsidiaries in an
aggregate amount of at least $100 million.
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- Details
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- Definition
Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Equity
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Dec. 31, 2010
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Equity [Abstract] | |||||
Equity |
In August 2010, L-3 Holdings completed its previously announced
$1 billion share repurchase program, which was approved by
its Board of Directors on November 24, 2008. On
July 14, 2010, L-3 Holdings’ Board of Directors
approved a new share repurchase program that authorizes L-3
Holdings to repurchase up to an additional $1 billion of
its outstanding shares of common stock through December 31,
2012. Repurchases are made from time to time at
management’s discretion in accordance with applicable
federal securities laws. All share repurchases of L-3 Holdings
common stock have been recorded as treasury shares. L-3 Holdings
repurchased 11.0 million shares of its common stock at an
average price of $75.86 per share for an aggregate amount of
approximately $834 million from January 1, 2010
through December 31, 2010. At December 31, 2010, the
remaining dollar value under the share repurchase program was
$592 million.
From January 1, 2011 through February 24, 2011, L-3
Holdings repurchased 1,367,992 shares of its common stock at an
average price of $77.70 per share for an aggregate amount of
approximately $106 million.
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- Definition
Disclosures include the authorization and status of L-3 Holdings share repurchase program, the remaining dollar value of the repurchase program and the shares repurchased subsequent to year end through the date of the 10-K filing. No definition available.
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Dec. 31, 2010
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Fair Value Measurements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements |
The Company applies the accounting standards for fair value
measurements to all of the Company’s assets and liabilities
that are measured and recorded at fair value. Fair value is
defined as the price that would be received for an asset or the
exit price that would be paid to transfer a liability in the
principal or most advantageous market in an orderly transaction
between market participants. The standards establish a fair
value hierarchy that gives the highest priority to observable
inputs and the lowest priority to unobservable inputs.
The following table presents the fair value hierarchy level for
each of the Company’s assets and liabilities that are
measured at fair value on a recurring basis.
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This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Instruments
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Dec. 31, 2010
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Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments |
At December 31, 2010 and 2009, the Company’s financial
instruments consisted primarily of cash and cash equivalents,
billed receivables, trade accounts payable, Senior Notes, Senior
Subordinated Notes, CODES and foreign currency forward
contracts. The carrying amounts of cash and cash equivalents,
billed receivables and trade accounts payable are representative
of their respective fair values because of the short-term
maturities or expected settlement dates of these instruments.
The fair value of the Senior Notes, Senior Subordinated Notes,
and CODES are based on quoted prices for these securities. The
fair values of foreign currency forward contracts are based on
forward exchange rates. The carrying amounts and estimated fair
values of the Company’s financial instruments are presented
in the table below.
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This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Financial Instruments
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Dec. 31, 2010
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Derivative Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments |
Notional amounts are used to measure the volume of foreign
currency forward contracts and do not represent exposure to
foreign currency losses. The table below presents the notional
amounts of the Company’s outstanding foreign currency
forward contracts by currency as of December 31, 2010:
At December 31, 2010, the Company’s foreign currency
forward contracts had maturities through 2016. The table below
presents the fair values and the location of the Company’s
derivative instruments in the Consolidated Balance Sheets.
The effect of gains or losses from foreign currency forward
contracts was not material to the Consolidated Statements of
Operations for the years ended December 31, 2010 and 2009.
The estimated net amount of existing gains at December 31,
2010 that is expected to be reclassified into income within the
next 12 months is $9 million.
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This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive (Loss) Income
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Dec. 31, 2010
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Accumulated Other Comprehensive (Loss) Income [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive (Loss) Income |
The changes in the accumulated other comprehensive (loss) income
balances, net of related tax effects are presented in the table
below:
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This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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L-3 Holdings' Earnings Per Share
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Dec. 31, 2010
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L-3 Holdings' Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
L-3 Holdings' Earnings Per Share |
A reconciliation of basic and diluted EPS is presented in the
table below.
Excluded from the computations of diluted EPS are shares related
to stock options, restricted stock, and restricted stock units
underlying employee stock-based compensation of 2.8 million
for the year ended December 31, 2010, 3.0 million for
the year ended December 31, 2009 and 2.3 million for
the year ended December 31, 2008, because they were
anti-dilutive.
Diluted EPS for the year ended December 31, 2008 included
(1) a gain of $0.66 per share for the reversal of a current
liability as a result of a June 27, 2008 decision by the
U.S. Court of Appeals which vacated an adverse 2006 jury
verdict and related accrued interest, (2) a gain of $0.06
per share for the sale of a product line (see Note 4), and
(3) a non-cash impairment charge of $0.14 per share related
to a write-down of capitalized software development costs
associated with a general aviation product.
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This element may be used to capture the complete disclosure pertaining to an entity's earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Dec. 31, 2010
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Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes |
Income before income taxes is summarized in the table below.
The components of the Company’s current and deferred
portions of the provision for income taxes are presented in the
table below.
A reconciliation of the statutory federal income tax rate to the
effective income tax rate of the Company is presented in the
table below.
The significant components of the Company’s net deferred
tax assets and liabilities are presented in the table below.
The following table presents the classification of the
Company’s deferred tax assets and liabilities.
At December 31, 2010, the Company had approximately
$105 million of state net operating losses that will
expire, if unused, between 2011 and 2030 and $29 million of
foreign net operating losses that will expire beginning in 2025.
The Company also has $8 million of tax credit carryforwards
related to state and foreign research and experimentation
credits and investment tax credits that will expire, if unused,
beginning in 2012. The Company believes that it will generate
sufficient taxable income, of the appropriate character, to
utilize $99 million of the state net operating losses,
$21 million of the foreign net operating losses and all the
state and foreign credit carryforwards before they expire.
As of December 31, 2010, the total amount of unrecognized
tax benefits was $237 million, $148 million of which
would reduce the effective income tax rate, if recognized. A
reconciliation of the change in unrecognized income tax
benefits, excluding potential interest and penalties, is
presented in the table below.
The U.S. Federal income tax jurisdiction is the
Company’s major tax jurisdiction. The statute of
limitations for the Company’s U.S. Federal income tax
returns for the years ended December 31, 2006 through 2009
is open as of December 31, 2010. The Internal Revenue
Service (IRS) began its audit of the Company’s 2006 and
2007 U.S. Federal income tax returns in April 2009. In
addition, the Company has numerous state and foreign income tax
audits currently in process. As of December 31, 2010, the
Company anticipates that unrecognized tax benefits will decrease
by approximately $21 million over the next 12 months.
In 2009, the statute of limitations for the 2004 and 2005
U.S. Federal income tax returns of the Company, certain
foreign income tax returns and certain returns of its acquired
subsidiaries expired. As a result, the Company reduced its
income tax provision by $31 million for the reversal of
previously accrued amounts.
In December 2008, the Company reached an agreement with the IRS
relating to the audit of its 2004 and 2005 U.S. Federal
income tax returns. The Company also settled numerous state and
local income tax audits during 2008. As a result of these
settlements, the Company reduced its provision for income tax by
approximately $27 million in 2008 for the reversal of
previously accrued amounts, including interest.
As of December 31, 2010 and 2009, current and non-current
income taxes payable include accrued potential interest of
$22 million ($13 million after income taxes) and
$23 million ($14 million after income taxes),
respectively, and potential penalties of $13 million and
$9 million, respectively. With respect to the interest
related items, the Company’s income tax expense included a
benefit of $1 million and $2 million for the years
ended December 31, 2010 and 2008, respectively, and an
expense of $3 million for the year ended December 31,
2009.
At December 31, 2010, the Company has not provided deferred
U.S. income taxes and foreign withholding taxes for
$132 million of undistributed earnings by our
non-U.S. subsidiaries as such earnings are intended to be
reinvested indefinitely. Quantification of additional taxes that
may be payable on distribution is not practicable.
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Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock-Based Compensation
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Stock-Based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation |
Stock-based Compensation Plans. Effective
April 29, 2008, the Company adopted the 2008 Long Term
Performance Plan (2008 LTPP) and the 2008 Directors Stock
Incentive Plan (2008 DSIP). As a result, no subsequent awards in
respect of shares of L-3 Holdings common stock have been or will
be issued under the Company’s 1997 Stock Option Plan, the
1998 Directors Stock Option Plan and the 1999 Long Term
Performance Plan (Prior Plans).
Awards under the 2008 LTPP may be granted to any officer or
employee of the Company or any of its subsidiaries, or to any
other individual who provides services to or on behalf of the
Company or any of its subsidiaries. Awards under the 2008 LTPP
may be in the form of stock options, stock appreciation rights,
restricted stock and other stock-based awards (including
restricted stock units and performance units).
Under the terms of the 2008 LTPP, (i) the maximum number of
shares of L-3 Holdings’ common stock that may be issued
pursuant to “incentive” stock option awards (i.e.,
stock options granted in accordance with Section 422 of the
U.S. Internal Revenue Code of 1986, as amended) is 3,000,000,
(ii) the maximum number of shares of L-3 Holdings’
common stock that may be issued (or paid in cash by reference to
such shares) pursuant to all awards granted during a calendar
year to any individual participant is 500,000 and (iv) the
maximum number of shares of L-3 Holdings’ common stock that
may be issued (or paid in cash by reference to such shares) to
any participant over the life of the 2008 LTPP with respect to
performance-based awards may not exceed 5% of L-3 Holdings’
total outstanding shares of common stock.
On April 27, 2010, the stockholders of L-3 Holdings
approved an amendment to the 2008 LTPP that increased the number
of shares authorized for issuance under the 2008 LTPP to
approximately 12.2 million shares, except that each
share of L-3 Holdings common stock issued under a “full
value” award (i.e., awards other than stock options or
stock appreciation rights) granted on or after March 1,
2010 will be counted as 2.6 shares for purposes of this
share limit. At December 31, 2010, 8.4 million shares
of L-3 Holdings’ common stock remained available for future
awards under the 2008 LTPP.
Awards under the 2008 DSIP may be granted only to non-employee
directors of the Company. Awards under the 2008 DSIP may be in
the form of stock options, restricted stock, restricted stock
units and minimum ownership stock. At December 31, 2010,
the number of shares of L-3 Holding’s common stock
authorized for grant under the 2008 DSIP was 300,000, of which,
272,218 shares were still available for awards. The 2008 LTPP
and the 2008 DSIP are collectively referred to as the 2008 Plans.
To date, awards under the 2008 Plans and Prior Plans
(collectively, the Plans) have been in the form of L-3
Holdings’ restricted stock, restricted stock units,
performance units and options to purchase L-3 Holdings’
common stock. The Company adopted the Plans in order to provide
incentives to directors, officers, employees and other
individuals providing services to or on behalf of the Company
and its subsidiaries. The Company believes that its stock-based
compensation awards encourage high levels of performance by
individuals who contribute to the success of the Company and
enable the Company to attract, retain and reward talented and
experienced individuals. This is accomplished by providing
eligible individuals with an opportunity to obtain or increase a
proprietary interest in the Company
and/or by
providing eligible individuals with additional incentives to
join or remain with the Company. The Plans serve to better align
the interests of management and its employees with those of the
Company’s shareholders.
Stock Options. The exercise price of stock options
that may be granted under the 2008 Plans may not be less than
the fair market value of L-3 Holdings’ common stock on the
date of grant. Options expire after 10 years from the date
of grant and vest ratably over a three year period on the annual
anniversary of the date of grant. All unvested options are
subject to forfeiture upon termination of employment (subject to
customary exceptions for death or disability). Compensation
expense for stock option awards was $12 million
($8 million after income taxes) for the year ended
December 31, 2010, $16 million ($10 million after
income taxes) for the year ended December 31, 2009, and
$17 million ($10 million after income taxes) for the
year ended December 31, 2008. All of the stock option
awards issued under the Plans are non-qualified stock options
for U.S. income tax regulations. The table below presents a
summary of the Company’s stock option activity as of
December 31, 2010 and changes during the year then ended.
The weighted average grant date fair value of each stock option
awarded was $18.41, $14.67, and $18.65 for the years ended
December 31, 2010, 2009 and 2008, respectively. The
aggregate intrinsic value, disclosed in the table above,
represents the difference between L-3 Holding’s closing
stock price on the last trading day for the period, and the
exercise price, multiplied by the number of
in-the-money
stock options.
The total intrinsic value of stock options exercised, based on
the difference between the L-3 Holdings stock price at the time
of exercise and the related exercise price, was
$30 million, $12 million, and $35 million for the
years ended December 31, 2010, 2009 and 2008, respectively.
At December 31, 2010, unrecognized compensation costs
related to stock options was $15 million ($9 million
after income taxes), which is expected to be recognized over a
weighted average remaining period of 1.7 years.
The actual income tax benefit realized related to compensation
deductions arising from the exercise of stock options by the
Company’s employees totaled $10 million,
$5 million and $13 million for the years ended
December 31, 2010, 2009 and 2008, respectively.
Stock Option Fair Value Estimation Assumptions. The
Company estimates the fair value of its stock options at the
date of grant using the Black-Scholes option-pricing valuation
model. The Company’s valuation model is affected by L-3
Holdings’ stock price as well as weighted average
assumptions for a number of subjective variables described below.
Changes in assumptions can materially impact the estimated fair
value of stock options. The weighted average assumptions used in
the valuation model are presented in the table below.
Restricted Stock Units. The Company awards
restricted stock units that automatically convert into shares of
L-3 Holdings’ common stock upon vesting (in the case of
awards granted to employees) or upon the date on which the
recipient ceases to be a director (in the case of awards granted
to directors). These awards are subject to forfeiture until
certain restrictions have lapsed, including a three year cliff
vesting period for employees and a one year cliff vesting period
for directors, in each case starting on the date of grant. The
weighted average grant date fair value of each restricted stock
units awarded was $90.23, $74.02 and $98.18 for the years ended
December 31, 2010, 2009 and 2008, respectively. The grant
date fair value of the restricted stock unit awards is based on
L-3 Holdings’ closing stock price at the date of grant, and
will generally be recognized as compensation expense on a
straight-line basis over the vesting period. However, for
employees who attain retirement eligibility status prior to the
end of the three year cliff vesting period, and who have
provided at least one year of service after the date of grant,
compensation expense is recognized over the shorter period from
the date of grant to the retirement eligibility date. Retirement
eligible employees are those employees that have
attained the age of 65 and have completed at least five years of
service (which service must be continuous through the date of
termination except for a single break in service that does not
exceed one year in length).
Compensation expense for all restricted stock unit awards was
$52 million ($32 million after income taxes) for the
year ended December 31, 2010, $42 million
($25 million after income taxes) for the year ended
December 31, 2009, and $32 million ($19 million
after income taxes) for the year ended December 31, 2008.
The table below presents a summary of the Company’s
nonvested restricted stock unit awards as of December 31,
2010 and changes during the year then ended.
As of December 31, 2010, total unrecognized compensation
costs related to nonvested restricted stock unit awards were
$62 million ($38 million after income taxes) and are
expected to be recognized over a weighted average remaining
period of 1.8 years. The total fair value of restricted
stock unit awards vested during the years ended
December 31, 2010, 2009 and 2008 as of their vesting dates
was $31 million, $23 million, and $20 million,
respectively.
Performance Units. The Company’s Long-Term
Incentive Program (LTIP) is a multi-year performance program
under which each participant receives a target award of
performance units, with each unit having a value at the time of
grant equal to a share of L-3 Holdings’ common stock. The
number of units ultimately earned can range from zero to 200% of
the target award. The final value of each award will vary based
upon (1) the level of performance achieved by the Company
over the associated performance period in relation to
pre-determined performance goals established by the Compensation
Committee of the Board of Directors of L-3 Holdings and
(2) the closing price of L-3 Holdings’ common stock at
the end of the performance period. Units issued under the
program are payable in either cash or shares of
L-3 Holdings’
common stock as determined at the time of grant by the
Compensation Committee.
In 2010, 2009, and 2008, the Company awarded performance units
with a weighted average grant date fair value per unit of
$105.14, $87.18, and $103.10, respectively. Of these units,
(1) the final value of half of the units is contingent upon
the compound annual growth rate in L-3’s diluted earnings
per share (the EPS Element) and (2) the final value of half
of the units is contingent upon L-3’s total stockholder
return relative to a peer group of companies (the TSR Element).
The performance period for units awarded during 2010 is for the
three-year period ending December 31, 2012. The performance
period for units awarded during 2009 and 2008 begins on the
first day of the Company’s fiscal third quarter of the
applicable grant year and ends on the December 31 that is two
and a half years later. Units related to the EPS Element are
payable in shares of L-3 Holdings’ common stock, while
units related to the TSR Element are payable in cash based on
the closing price of L-3 Holdings’ common stock at the end
of the performance period. The total compensation expense
recognized for all LTIP awards for the years ended
December 31, 2010, 2009, and 2008 was $3 million
($2 million after income taxes), $9 million
($5 million after income taxes), and $4 million
($2 million after income taxes), respectively. As of
December 31, 2010, total unrecognized compensation costs
related to the performance units were $4 million
($3 million after income taxes) and are expected to be
recognized over a weighted average remaining period of
1.6 years.
The table below presents a summary of the Company’s
performance unit awards based on expected performance as of
December 31, 2010 and changes during the year then ended.
The performance period for the units awarded in 2008 ended on
December 31, 2010. Based on the EPS element and TSR element
achieved during the performance period, total performance units
of 51,692 having a fair market value of $4 million as of
their vesting date were earned by the LTIP participants on
December 31, 2010.
Performance Units Fair Value Assumptions. The TSR
element is initially measured at fair value and subsequently
remeasured each reporting period using a Monte Carlo valuation
model that incorporates current assumptions, including L-3
Holdings’ stock price and the variables described below.
Changes in assumptions can materially impact the estimated fair
value of the TSR element from period to period. The weighted
average assumptions used in the valuation model as of
December 31, 2010 are presented in the table below.
Employee Stock Purchase Plan. Effective July 1,
2009, the Company adopted the 2009 Employee Stock Purchase Plan
(2009 ESPP). As a result, no subsequent options to purchase
shares of L-3 Holdings’ common stock have been or will be
granted under the Company’s prior employee stock purchase
plan (2001 ESPP).
The general terms of the 2009 ESPP are substantially identical
to those of the 2001 ESPP. Under the 2009 ESPP, eligible
employees are offered options to purchase shares of L-3
Holdings’ common stock at the end of each six-month
offering period at 85% of fair market value (or 95% of fair
market value for offering periods beginning on or after
January 1, 2011) based on the average of the highest
and lowest sales prices for the stock on the purchase date.
Eligible employees generally include all employees of the
Company and each subsidiary or affiliate of the Company that has
been designated to participate in the 2009 ESPP. Offering
periods begin on the first trading day in January and July of
each calendar year and end on the last trading day in June and
December of each calendar year. Share purchases are funded
through payroll deductions of up to 10% of an employee’s
eligible compensation for each payroll period, or $21,250 each
calendar year.
As of December 31, 2010, 6.4 million shares were
available for future issuance under the 2009 ESPP (i.e.,
excluding the effect of shares issued in January 2011 as
described below). In July 2010, the Company issued
0.5 million shares under the 2009 ESPP at an average price
of $60.90 per share, which covered employee contributions for
the six months ended June 30, 2010. In January 2011, the
Company issued 0.6 million shares under the 2009 ESPP at an
average price of $60.01 per share, which covered employee
contributions for the six months ended December 31, 2010.
For both years ended December 31, 2010 and 2009, the
Company recognized $12 million ($10 million after
income taxes) in compensation expense related to the discount
for L-3 Holdings’ common stock purchases under the 2001
ESPP and 2009 ESPP.
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Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Dec. 31, 2010
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Commitments and Contingencies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies |
Non-Cancelable
Operating Leases
The Company leases certain facilities and equipment under
agreements expiring at various dates through 2028. Certain
leases contain renewal options or escalation clauses providing
for increased rental payments based upon maintenance, utility
and tax increases. No lease agreement imposes a restriction on
the Company’s ability to pay dividends, engage in debt or
equity financing transactions, or enter into further lease
agreements.
The following table presents future minimum payments under
non-cancelable operating leases with initial or remaining terms
in excess of one year at December 31, 2010.
Rent expense, net of sublease income, was $176 million for
2010, $170 million for 2009, and $166 million for 2008.
Letters
of Credit
The Company enters into standby letters of credit with financial
institutions covering performance and financial guarantees
pursuant to contractual arrangements with certain customers. The
Company had total outstanding letters of credit aggregating to
$394 million, of which $17 million reduces the amount
of available borrowings to the Company under the Revolving
Credit Facility at December 31, 2010, and
$360 million, of which, $32 million reduced the amount
of available borrowings under the Revolving Credit Facility at
December 31, 2009. These letters of credit may be drawn
upon in the event of the Company’s nonperformance.
Guarantees
The Company, from time to time, enters into contractual
guarantees that arise in connection with its business
acquisitions, dispositions, and other contractual arrangements
in the normal course of business.
In connection with the Company’s acquisition of L-3
Communications MAPPS Inc. in 2005, the Company acquired a 47.5%
interest in FAST Holdings Limited (FAST), a joint venture
corporation. FAST has been contracted to provide and operate
training facilities and equipment for the United Kingdom’s
Astute Class Submarine Training Service program.
The Company has guaranteed 50% of certain bank debt borrowed by
FAST to finance its activities on this program. At
December 31, 2010, the Company’s guarantee
amounted to $44 million. The Company expects to be released
from the guarantee upon customer acceptance of all contract
deliverables, which is expected to occur no later than the
second quarter of 2011.
The Company has two existing real estate lease agreements, which
include residual guarantee amounts, expiring on August 31,
2011 and are accounted for as operating leases. On or before the
lease expiration date, the Company can exercise options under
the lease agreements to either renew the leases, purchase both
properties for $28 million, or sell both properties on
behalf of the lessor (the “Sale Option”). If the
Company elects the Sale Option, the Company must pay the lessor
a residual guarantee amount of $23 million for both
properties, on or before the lease expiration date. In addition,
at the time both properties are sold, the Company must pay the
lessor a supplemental rent payment equal to the gross sales
proceeds in excess of the residual guarantee, provided that such
amount shall not exceed $5 million. For these real estate
lease agreements, if the gross sales proceeds are less than the
sum of the residual guarantee amount and the supplemental rent
payment, the Company is required to pay a supplemental rent
payment to the extent the reduction in the fair value of the
properties is demonstrated by an independent appraisal to have
been caused by the Company’s failure to properly maintain
the properties. The aggregate residual guarantee amounts equal
$23 million and are included in the future minimum payments
under non-cancelable real estate operating lease payments
relating to the expiration dates of such leases.
The Company has a contract to provide and operate for the
U.S. Air Force (USAF) a full-service training facility,
including simulator systems adjacent to a USAF base in Oklahoma.
The Company acted as the construction agent on behalf of the
third-party owner-lessors for procurement and construction for
the simulator systems, which were completed and delivered in
August 2002. The Company, as lessee, entered into operating
lease agreements for a term of 15 years for the simulator
systems with the owner-lessors. At the end of the lease term,
the Company may elect to purchase the simulator systems at fair
market value, which can be no less than $7 million and no
greater than $21 million. If the Company does not elect to
purchase the simulator systems on the date of expiration
(July 15, 2017), the Company shall pay to the lessor, as
additional rent, $3 million and return the simulator
systems to the lessors.
Environmental
Matters
Management continually assesses the Company’s obligations
with respect to applicable environmental protection laws,
including those obligations assumed in connection with certain
business acquisitions. While it is difficult to determine the
timing and ultimate cost to be incurred by the Company in order
to comply with these laws, based upon available internal and
external assessments, with respect to those environmental loss
contingencies of which management is aware, the Company believes
that, after considering amounts accrued, there are no
environmental loss contingencies that, individually or in the
aggregate, would be material to the Company’s consolidated
results of operations. The Company accrues for these
contingencies when it is probable that a liability has been
incurred and the amount of the liability can be reasonably
estimated.
Procurement
Regulations
A substantial majority of the Company’s revenues are
generated from providing products and services under legally
binding agreements or contracts with U.S. Government and
foreign government customers. U.S. Government contracts are
subject to extensive legal and regulatory requirements, and from
time to time, agencies of the U.S. Government investigate
whether such contracts were and are being conducted in
accordance with these requirements. The Company is currently
cooperating with the U.S. Government on several
investigations, including those specified below, from which
civil, criminal or administrative proceedings have or could
result and give rise to fines, penalties, compensatory and
treble damages, restitution
and/or
forfeitures. The Company does not currently anticipate that any
of these investigations will have a material adverse effect,
individually or in the aggregate, on its consolidated financial
position, results of operations or cash flows. However, under
U.S. Government regulations, an indictment of the Company
by a federal grand jury, or an
administrative finding against the Company as to its present
responsibility to be a U.S. Government contractor or
subcontractor, could result in the Company being suspended for a
period of time from eligibility for awards of new government
contracts or task orders or in a loss of export privileges. A
conviction, or an administrative finding against the Company
that satisfies the requisite level of seriousness, could result
in debarment from contracting with the federal government for a
specified term. In addition, all of the Company’s
U.S. Government contracts: (1) are subject to audit
and various pricing and cost controls, (2) include standard
provisions for termination for the convenience of the
U.S. Government or for default, and (3) are subject to
cancellation if funds for contracts become unavailable. Foreign
government contracts generally include comparable provisions
relating to terminations for convenience and default, as well as
other procurement clauses relevant to the foreign government.
Litigation
Matters
The Company is also subject to litigation, proceedings, claims
or assessments and various contingent liabilities incidental to
its businesses, including those specified below. Furthermore, in
connection with certain business acquisitions, the Company has
assumed some or all claims against, and liabilities of, the
acquired business, including both asserted and unasserted claims
and liabilities.
In accordance with the accounting standard for contingencies,
the Company records a liability when management believes that it
is both probable that a liability has been incurred and the
Company can reasonably estimate the amount of the loss.
Generally, the loss is recorded at the amount the Company
expects to resolve the liability. The estimated amounts of
liabilities recorded for pending and threatened litigation are
disclosed in Note 8. Amounts recoverable from insurance
contracts or third parties are recorded as assets when deemed
probable. At December 31, 2010, the Company did not record
any amounts for recoveries from insurance contracts or third
parties in connection with the amount of liabilities recorded
for pending and threatened litigation. Legal defense costs are
expensed as incurred. The Company believes it has recorded
adequate provisions for its litigation matters. The Company
reviews these provisions quarterly and adjusts these provisions
to reflect the impact of negotiations, settlements, rulings,
advice of legal counsel and other information and events
pertaining to a particular matter. While it is reasonably
possible that an unfavorable outcome may occur in one or more of
the following matters, unless otherwise stated below, the
Company believes that it is not probable that a loss has been
incurred in any of these matters. An estimate of loss or range
of loss is disclosed for a particular litigation matter when
such amount or amounts can be reasonably estimated and no loss
has been accrued. The Company believes that any damage amounts
claimed in the specific matters discussed below do not
constitute reasonable estimates of loss. Although the Company
believes that it has valid defenses with respect to legal
matters and investigations pending against it, the results of
litigation can be difficult to predict, including those
involving jury trials. Accordingly, our current judgment as to
the likelihood of our loss (or our current estimate as to the
potential range of loss, if applicable) with respect to any
particular litigation matter may turn out to be wrong.
Therefore, it is possible that the financial position, results
of operations or cash flows of the Company could be materially
adversely affected in any particular period by the unfavorable
resolution of one or more of these or other contingencies.
Kalitta Air. On January 31, 1997, a predecessor
of Kalitta Air filed a lawsuit in the U.S. District Court
for the Northern District of California (the trial court)
asserting, among other things, negligence and negligent
misrepresentation against Central Texas Airborne Systems, Inc.
(CTAS), a predecessor to L-3 Integrated Systems (L-3 IS), in
connection with work performed by a predecessor to CTAS to
convert two Boeing 747 aircraft from passenger configuration to
cargo freighters. The work was performed using Supplemental Type
Certificates (STCs) issued in 1988 by the Federal Aviation
Administration (FAA). In 1996, following completion of the work,
the FAA issued an airworthiness directive with respect to the
STCs that effectively grounded the aircraft. On August 11,
2000, the trial court granted CTAS’ motion for summary
judgment as to negligence, dismissing that claim. In January
2001, after a ruling by the trial court that excluded certain
evidence from trial, a jury rendered a unanimous defense verdict
in favor of CTAS on the negligent misrepresentation claim. On
December 10, 2002, the U.S. Court of Appeals for the
Ninth Circuit (the Court of Appeals) reversed the trial
court’s decisions as to summary judgment and the exclusion
of evidence, and remanded
the case for a new trial on both the negligence and negligent
misrepresentation claims. The retrial ended on March 2,
2005 with a deadlocked jury and mistrial. On July 22, 2005,
the trial court granted CTAS’ motion for judgment as a
matter of law as to negligence, dismissing that claim, and
denied CTAS’ motion for judgment as a matter of law as to
negligent misrepresentation. On October 8, 2008, the Court
of Appeals reversed the trial court’s dismissal of the
negligence claim and affirmed the trial court’s ruling as
to the negligent misrepresentation claim. As a result, the case
was remanded to the trial court to reconsider the negligence
claim and for further proceedings on the negligent
misrepresentation claim. The trial court held a new hearing on
CTAS’ motion to dismiss the negligence claim on
April 30, 2009, after which it determined to take the
matter under advisement. The case is currently scheduled to go
to a third jury trial on October 31, 2011. The parties have
participated in court-ordered mediations from time to time, and
are expected to participate in future court-ordered mediations
prior to trial, but to date such mediations have not resulted in
a mutually acceptable resolution of this matter. In connection
with these mediations, Kalitta Air has claimed it may seek
damages at the third trial of between $430 million and
$900 million, including between $200 million and
$240 million of pre-judgment interest. CTAS’ insurance
carrier has accepted defense of this matter and has retained
counsel, subject to a reservation of rights by the insurer to
dispute its obligations under the applicable insurance policies
in the event of a finding against L-3. The Company believes that
it has meritorious defenses to the claims asserted and the
damages sought and intends to defend itself vigorously.
Titan Government Investigation. In October 2002, The
Titan Corporation (Titan) received a grand jury subpoena from
the Antitrust Division of the DoJ requesting the production of
documents relating to information technology services performed
for the U.S. Air Force at Hanscom Air Force Base in
Massachusetts and Wright-Patterson Air Force Base in Ohio. The
Company acquired Titan in July 2005. The Company was recently
advised by the DoJ that it has closed this matter without taking
action against the Company.
CyTerra Government Investigation. Since November
2006, CyTerra has been served with civil and Grand Jury
subpoenas by the DoD Office of the Inspector General and the DoJ
and has been asked to facilitate employee interviews. The
Company is cooperating fully with the U.S. Government. The
Company believes that it is entitled to indemnification for any
course of defense related to this matter out of, and has made a
claim against, a $15 million escrow fund established in
connection with the Company’s acquisition of CyTerra in
March 2006.
Bashkirian Airways. On July 1, 2004, lawsuits
were filed on behalf of the estates of 31 Russian children in
the state courts of Washington, Arizona, California, Florida,
New York and New Jersey against Honeywell, Honeywell TCAS,
Thales USA, Thales France, the Company and Aviation
Communications & Surveillance Systems (ACSS), which is
a joint venture of L-3 and Thales. The suits relate to the crash
over southern Germany of Bashkirian Airways Tupelov TU 154M
aircraft and a DHL Boeing 757 cargo aircraft. On-board the
Tupelov aircraft were 9 crew members and 60 passengers,
including 45 children. The Boeing aircraft carried a crew of
two. Both aircraft were equipped with Honeywell/ACSS Model 2000,
Change 7 Traffic Collision and Avoidance Systems (TCAS). Sensing
the other aircraft, the on-board DHL TCAS instructed the DHL
pilot to descend, and the Tupelov on-board TCAS instructed the
Tupelov pilot to climb. However, the Swiss air traffic
controller ordered the Tupelov pilot to descend. The Tupelov
pilot disregarded the on-board TCAS and put the Tupelov aircraft
into a descent striking the DHL aircraft in midair at
approximately 35,000 feet. All crew and passengers of both
planes were lost. Investigations by the National Transportation
Safety Board after the crash revealed that both TCAS units were
performing as designed. The suits allege negligence and strict
product liability based upon the design of the units and the
training provided to resolve conflicting commands and seek
approximately $315 million in damages, including
$150 million in punitive damages. The Company’s
insurers have accepted defense of this matter and have retained
counsel. The matters were consolidated in the U.S. District
Court for the District of New Jersey, which has dismissed the
actions on the basis of forum non conveniens. The plaintiffs
re-filed a complaint on April 23, 2007 with the Barcelona
Court’s Registry in Spain. On March 9, 2010, the court
ruled in favor of the plaintiffs and entered judgment against
ACSS in the amount of approximately $6.7 million, all of
which represented compensatory damages. The Company believes
that the verdict and the damages awarded are inconsistent with
the law and evidence
presented. Accordingly, ACSS filed an appeal of this ruling on
April 27, 2010. The plaintiffs also filed an appeal of this
ruling on the same date.
Gol Airlines. A complaint was filed on
November 7, 2006 in the U.S. District Court for the
Eastern District of New York against ExcelAire, Joseph
Lepore, Jan Paul Paladino, and Honeywell. On October 23,
2007, an amended complaint was filed to include Lockheed,
Raytheon, Amazon Technologies and ACSS. The complaints relate to
the September 29, 2006 airplane crash over Brazil of a
Boeing
737-800
operated by GOL Linhas Aereas Inteligentes, S.A. and an Embraer
600 business jet operated by ExcelAire. The complaints allege
that ACSS designed the TCAS on the ExcelAire jet, and assert
claims of negligence, strict products liability and breach of
warranty against ACSS based on the design of the TCAS and the
instructions provided for its use. The complaints seek
unspecified monetary damages, including punitive damages. The
Company’s insurers have accepted defense of this matter and
have retained counsel. On July 2, 2008, the District Court
dismissed the actions on the basis of forum non conveniens on
the grounds that Brazil was the location of the accident and is
more convenient for witnesses and document availability. On
December 2, 2009, the U.S. Court of Appeals for the
Second Circuit upheld this decision. Some of the plaintiffs
re-filed their complaints in the Lower Civil Court in the
Judicial District of Peixoto de Azevedo in Brazil on
July 3, 2009.
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Pensions and Other Employee Benefits |
The Company maintains multiple pension plans, both contributory
and non-contributory, covering employees at certain locations.
Eligibility for participation in these plans varies and benefits
are generally based on the participant’s compensation
and/or years
of service. The Company’s funding policy is generally to
contribute in accordance with cost accounting standards that
affect government contractors, subject to the Internal Revenue
Code and regulations thereon. Plan assets are invested primarily
in listed stocks, mutual funds, corporate bonds,
U.S. Government obligations and U.S. Government agency
obligations.
The Company also provides postretirement medical and life
insurance benefits for retired employees and dependents at
certain locations. Participants are eligible for these benefits
when they retire from active service and meet the eligibility
requirements for the Company’s pension plans. These
benefits are funded primarily on a pay-as-you-go basis with the
retiree generally paying a portion of the cost through
contributions, deductibles and coinsurance provisions.
In accordance with accounting standards for employee pension and
postretirement benefits, the Company recognizes the unfunded
status of its pension and postretirement benefit plans in the
consolidated financial statements and measures its pension and
postretirement benefit plan assets and benefit obligations as of
December 31.
The following table summarizes changes in the benefit
obligations, the plan assets and funded status for all of the
Company’s pension and postretirement benefit plans, as well
as the aggregate balance sheet impact.
The table below summarizes the net loss and prior service cost
balances at December 31, in the accumulated other
comprehensive loss account, before related tax effects, for all
of the Company’s pension and postretirement benefit plans.
The aggregate accumulated benefit obligation (ABO) for all of
the Company’s pension plans was $2,004 million at
December 31, 2010 and $1,659 million at
December 31, 2009. The table below presents information for
the pension plans with an ABO in excess of the fair value of
plan assets at December 31, 2010 and 2009.
The table below summarizes the weighted average assumptions used
to determine the benefit obligations for the Company’s
pension and postretirement plans disclosed at December 31,
2010 and 2009.
The following table summarizes the components of net periodic
benefit cost for the Company’s pension and postretirement
benefit plans for the years ended December 31, 2010, 2009
and 2008.
The following table summarizes the other changes in plan assets
and benefit obligations recognized in other comprehensive income
for the Company’s pension and postretirement benefit plans
for the year ended December 31, 2010.
The following table summarizes the amounts expected to be
amortized from accumulated other comprehensive (loss) income and
recognized as components of net periodic benefit costs during
2011.
The table below summarizes the weighted average assumptions used
to determine the net periodic benefit cost for the years ended
December 31, 2010, 2009 and 2008.
The expected long-term return on plan assets assumption
represents the average rate that the Company expects to earn
over the long-term on the assets of the Company’s benefit
plans, including those from dividends, interest income and
capital appreciation. The assumption has been determined based
on expectations regarding future long-term rates of return for
the plans’ investment portfolio, with consideration given
to the allocation of investments by asset class and historical
rates of return for each individual asset class.
The annual increase in cost of benefits (health care cost trend
rate) is assumed to be an average of 9.5% in 2011 and is assumed
to gradually decrease to a rate of 5.0% in 2020 and thereafter.
Assumed health care cost trend rates have a significant effect
on amounts reported for postretirement medical benefit plans. A
one percentage point change in the assumed health care cost
trend rates would have the following effects:
Plan Assets. The Company’s Benefit Plan
Committee (Committee) has the responsibility to formulate the
investment policies and strategies for the plans’ assets.
The Committee structures the investment of plan assets to
achieve the following goals: (1) maximize the plans’
long-term rate of return on assets for an acceptable level of
risk; and (2) limit the volatility of investment returns
and consequent impact on the plans’ assets. In the pursuit
of these goals, the Committee has formulated the following
investment policies and objectives: (1) invest assets of
the plans in a manner consistent with
the fiduciary standards of ERISA; (2) preserve the
plans’ assets; (3) maintain sufficient liquidity to
fund benefit payments and pay plan expenses; (4) evaluate
the performance of investment managers; and (5) achieve, on
average, a minimum total rate of return equal to the established
benchmarks for each asset category.
The Committee retains a professional investment consultant to
advise the Committee and help ensure that the above policies and
strategies are met. The Committee does not actively manage the
day to day operations and selection process of individual
securities and investments, as it retains the professional
services of qualified investment management organizations to
fulfill those tasks. Qualified investment management
organizations are evaluated on several criteria for selection,
with a focus on the investment management organizations’
demonstrated capability to achieve results that will meet or
exceed the investment objectives they have been assigned and
conform to the policies established by the Committee. While the
investment management organizations have investment discretion
over the assets placed under their management, the Committee
provides each investment manager with specific investment
guidelines relevant to its asset class.
The Committee has established the allowable range that the
plans’ assets may be invested in for each major asset
category. In addition, the Committee has established guidelines
regarding diversification within asset categories to limit risk
and exposure to a single or limited number of securities. The
investments of the plans’ include a diversified portfolio
of both equity and fixed income investments. Equity investments
are further diversified across U.S. and
non-U.S. stocks,
small to large capitalization stocks, and growth and value
stocks. Fixed income assets are diversified across U.S. and
non-U.S. issuers,
corporate and governmental issuers, and credit quality. The plan
also invests in real estate through publicly traded real estate
securities. Derivatives may be used only for hedging purposes or
to create synthetic long positions. The plans are prohibited
from directly owning commodities, unregistered securities,
restricted stock, private placements, or interest in oil, gas,
mineral exploration, or other development programs. Further,
short selling or utilizing margin buying for investment purposes
is prohibited.
The table below presents the allowable range for each major
category of the plans’ assets at December 31, 2010, as
well as the Company’s pension plan and postretirement
benefit plan weighted-average asset allocations at
December 31, 2010 and 2009, by asset category.
The Committee regularly monitors the investment of the
plans’ assets to ensure that the actual investment
allocation remains within the established range. The Committee
also regularly measures and monitors investment risk through
ongoing performance reporting and investment manager reviews.
Investment manager reviews include assessing the managers’
performance versus the appropriate benchmark index both in the
short and long-term period, performance versus peers, and an
examination of risk the managers assumed in order to achieve
rates of return.
The table below presents the fair value of the Company’s
pension plans’ assets at December 31, 2010 and 2009,
by asset category segregated by level within the fair value
hierarchy, as described in Note 12:
The table below presents the fair value of the Company’s
postretirement benefit plans’ assets at December 31,
2010 and 2009, by asset category segregated by level within the
fair value hierarchy, as described in Note 12.
Contributions. For the year ending December 31,
2011, the Company currently expects to contribute approximately
$185 million to its pension plans and approximately
$13 million to its postretirement benefit plans.
Multi-employer Benefit Plans. Certain of the
Company’s businesses participate in multi-employer defined
benefit pension plans. The Company makes cash contributions to
these plans based on a fixed rate per hour of service worked by
the covered employees. Under these plans, the Company
contributed cash and recorded expenses of $17 million for
2010, $15 million for 2009 and $13 million for 2008.
Estimated Future Benefit Payments. The following table
presents expected pension and postretirement benefit
payments and expected postretirement subsidies due to the
Medicare Prescription Drug Improvement and Modernization Act of
2003, which reflect expected future service, as appropriate.
Employee Savings Plans. Under its various employee
savings plans, the Company matches the contributions of
participating employees up to a designated level. The extent of
the match, vesting terms and the form of the matching
contributions vary among the plans. Under these plans, the
Company’s matching contributions in L-3 Holdings’
common stock and cash were $147 million for 2010,
$143 million for 2009 and $144 million for 2008.
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Description containing the entire pension and other postretirement benefits disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Cash Flow Information
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Dec. 31, 2010
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Supplemental Cash Flow Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Cash Flow Information |
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Designated to encapsulate the entire footnote disclosure that provides information on the supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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Dec. 31, 2010
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Segment Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information |
The Company has four reportable segments, which are described in
Note 1. The Company evaluates the performance of its
operating segments and reportable segments based on their sales
and operating income. All corporate expenses are allocated to
the Company’s operating segments using an allocation
methodology prescribed by U.S. Government regulations for
government contractors. Accordingly, all costs and expenses,
except for the litigation gain in 2008 (which was not included
in the Company’s segment performance measures), are
included in the Company’s measure of segment profitability.
The tables below present net sales, operating income,
depreciation and amortization, capital expenditures and total
assets by reportable segment.
Corporate assets not allocated to the reportable segments
primarily include cash and cash equivalents, corporate office
fixed assets, deferred income tax assets and deferred debt issue
costs. In addition, substantially all of the Company’s
assets are located in North America.
The Company’s sales attributable to U.S. customers and
foreign customers, based on location of the customer, are
summarized in the table below.
Net sales to principal customers are summarized in the table
below.
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- Definition
This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Employee Severance and Termination Costs
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12 Months Ended | ||||
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Dec. 31, 2010
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Employee Severance and Termination Costs [Abstract] | |||||
Employee Severance and Termination Costs |
During the year-ended December 31, 2010, the Company
commenced headcount reductions across several businesses to
reduce both direct and indirect costs, including overhead and
general and administrative costs. As a result of this
initiative, the Company recorded a total of $17 million in
employee severance and other related termination costs for
approximately 700 employees, primarily in the Electronic
Systems reportable segment. At December 31, 2010, the
remaining balance to be paid was $12 million.
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Description and amount of restructuring costs by type of cost including the expected cost, the costs incurred during the period, and the cumulative costs incurred as of the balance sheet date for the restructuring activity, and the income statement caption that includes the restructuring charges recognized for the period. This element may be used to encapsulate all of the disclosures for the costs of a restructuring and related activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Unaudited Quarterly Financial Data
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Dec. 31, 2010
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Unaudited Quarterly Financial Data [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Quarterly Financial Data |
24. Unaudited Quarterly Financial Data
Unaudited summarized financial data by quarter for the years
ended December 31, 2010 and 2009 is presented in the table
below. The Company’s unaudited quarterly results of
operations are affected, significantly in some periods, by our
business acquisitions. See Note 4.
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This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Information of L-3 Communications and Its Subsidiaries
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Dec. 31, 2010
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Financial Information of L-3 Communications and Its Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Information of L-3 Communications and Its Subsidiaries |
Total shareholders’ equity for L-3 Communications equals
that of L-3 Holdings, but the components (common stock,
additional paid-in capital, treasury stock and retained
earnings) are different. The table below presents information
regarding the balances and changes in common stock, additional
paid-in capital, treasury stock and retained earnings of
L-3
Communications for each of the three years ended
December 31, 2010.
The net proceeds received by L-3 Holdings from (i) the sale
of its common stock, (ii) exercise of L-3 Holdings’
employee and director stock options, and related tax benefits,
and (iii) L-3 Holdings’ common stock contributed to
the Company’s savings plans are contributed to L-3
Communications. The amounts paid by L-3 Holdings for dividends
and share repurchases are generated from dividends received from
L-3 Communications.
L-3 Communications is a wholly-owned subsidiary of L-3 Holdings.
The debt of L-3 Communications, including the Senior Notes,
Senior Subordinated Notes and borrowings under amounts drawn
against the Revolving Credit Facility are guaranteed, on a joint
and several, full and unconditional basis, by certain of its
domestic subsidiaries (the “Guarantor Subsidiaries”).
See Note 10. The foreign subsidiaries and certain domestic
subsidiaries of L-3 Communications (the “Non-Guarantor
Subsidiaries”) do not guarantee the debt of L-3
Communications. None of the debt of L-3 Communications has been
issued by its subsidiaries. There are no restrictions on the
payment of dividends from the Guarantor Subsidiaries to L-3
Communications.
In lieu of providing separate audited financial statements for
the Guarantor Subsidiaries, the Company has included the
accompanying condensed combining financial statements based on
Rule 3-10
of SEC
Regulation S-X.
The Company does not believe that separate financial statements
of the Guarantor Subsidiaries are material to users of the
financial statements.
The following condensed combining financial information presents
the results of operations, financial position and cash flows of
(1) L-3 Holdings, excluding L-3 Communications and its
consolidated subsidiaries (the “Parent”), (2) L-3
Communications, excluding its consolidated subsidiaries,
(3) the Guarantor Subsidiaries, (4) the Non-Guarantor
Subsidiaries and (5) the eliminations to arrive at the
information for L-3 on a consolidated basis.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Disclosure of the equity of L-3 Communications and description of the terms of certain debt and the structure of the guarantees of that specific debt. Includes certain condensed combining financial information at different legal entity levels, including aggregating the financial information by Guarantor Subsidiaries and Non-Guarantor Subsidiaries. No definition available.
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Summary of Significant Accounting Policies (Policies)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Summary of Significant Accounting Policies (Policies) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation |
Basis of Presentation: The accompanying financial
statements comprise the consolidated financial statements of L-3
Holdings and L-3 Communications. L-3 Holdings’ only asset
is its investment in the common stock of L-3 Communications, its
wholly-owned subsidiary, and its only obligations are
(1) the 3% Convertible Contingent Debt Securities
(CODES) due 2035, which were issued by L-3 Holdings on
July 29, 2005, (2) its guarantee of borrowings under
the Revolving Credit Facility of L-3 Communications and
(3) its guarantee of other contractual obligations of L-3
Communications and its subsidiaries. L-3 Holdings’
obligations relating to the CODES have been jointly, severally,
fully and unconditionally guaranteed by L-3 Communications and
certain of its wholly-owned domestic subsidiaries. Accordingly,
such debt has been reflected as debt of L-3 Communications in
its consolidated financial statements in accordance with the
accounting standards for pushdown accounting. All issuances of
and conversions into L-3 Holdings’ equity securities,
including grants of stock options, restricted stock, restricted
stock units and performance units by L-3 Holdings to employees
and directors of L-3 Communications and its subsidiaries, have
been reflected in the consolidated financial statements of L-3
Communications. As a result, the consolidated financial
positions, results of operations and cash flows of L-3 Holdings
and L-3 Communications are substantially the same. See
Note 25 for additional information regarding the audited
financial information of L-3 Communications and its subsidiaries.
The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of
America (U.S. GAAP) requires management to make estimates
and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the
reported amounts of sales and costs of sales during the
reporting period. The most significant of these estimates and
assumptions relate to contract revenue, profit and loss
recognition, fair values of assets acquired and liabilities
assumed in business combinations, market values for inventories
reported at lower of cost or market, pension and post-retirement
benefit obligations, stock-based employee compensation expense,
income taxes, including the valuations of deferred tax assets,
litigation reserves and environmental obligations, accrued
product warranty costs, and the recoverability, useful lives and
valuation of recorded amounts of long-lived assets, identifiable
intangible assets and goodwill. Changes in estimates are
reflected in the periods during which they become known. Actual
amounts will differ from these estimates and could differ
materially.
During the quarter ended June 25, 2010, the Company made
certain reclassifications between its Government Services and
Electronic Systems reportable segments due to a re-alignment of
a business unit in the Company’s management and
organizational structure. See Note 22 for the prior period
amounts reclassified between reportable segments.
Certain other reclassifications have been made to conform
prior-year amounts to the current-year presentation.
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Principles of Consolidation |
Principles of Consolidation: The consolidated
financial statements of the Company include all wholly-owned and
majority-owned subsidiaries. All significant intercompany
transactions are eliminated in consolidation. Investments in
equity securities, joint ventures and limited liability
corporations over which the Company has significant influence
but does not have voting control are accounted for using the
equity method. Investments over which the Company does not have
significant influence are accounted for using the cost method.
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Revenue Recognition |
Revenue Recognition: The majority of the
Company’s contracts are generally fixed price, cost-plus or
time-and-material
type contracts. Depending on the type of contract, sales and
profits are recognized based on: (1) a
Percentage-of-Completion
(POC) method of accounting, (2) allowable costs incurred
plus the estimated profit on those costs (cost-plus), or
(3) direct labor hours expended multiplied by the
contractual fixed rate per hour plus incurred costs for material
(time-and-material).
Sales and profits on fixed-price type contracts that are covered
by contract accounting standards are substantially recognized
using POC methods of accounting. Sales and profits on
fixed-price production contracts under which units are produced
and delivered in a continuous or sequential process are recorded
as units are delivered based on their contractual selling prices
(the
“units-of-delivery”
method). Sales and profits on each fixed-price production
contract under which units are not produced and delivered in a
continuous or sequential process, or under which a relatively
few number of units are produced, are recorded based on the
ratio of actual cumulative costs incurred to the total estimated
costs at completion of the contract, multiplied by the total
estimated contract revenue, less cumulative sales recognized in
prior periods (the
“cost-to-cost”
method). Under both POC methods of accounting, a single
estimated total profit margin is used to recognize profit for
each contract over its entire period of performance, which can
exceed one year. Losses on contracts are recognized in the
period in which they become evident. The impact of revisions of
contract estimates, which may result from contract
modifications, performance or other reasons, are recognized on a
cumulative
catch-up
basis in the period in which the revisions are made.
Sales and profits on cost-plus type contracts that are covered
by contract accounting standards are recognized as allowable
costs are incurred on the contract, at an amount equal to the
allowable costs plus the estimated profit on those costs. The
estimated profit on a cost-plus type contract is fixed or
variable based on the contractual fee arrangement. Incentive and
award fees are the primary variable fee contractual
arrangements. Incentive and award fees on cost-plus type
contracts are included as an element of total estimated contract
revenues and are recorded to sales when a basis exists for the
reasonable prediction of performance in relation to established
contractual targets and the Company is able to make reasonably
dependable estimates for them.
Sales and profits on
time-and-material
type contracts are recognized on the basis of direct labor hours
expended multiplied by the contractual fixed rate per hour, plus
the actual costs of materials and other direct non-labor costs.
Sales on arrangements for (1) fixed-price type contracts
that require us to perform services that are not related to the
production of tangible assets (Fixed-Price Service Contracts)
and (2) certain commercial customers are recognized in
accordance with revenue recognition accounting standards for
revenue arrangements with commercial customers. Sales for the
Company’s businesses whose customers are primarily
commercial business enterprises are substantially all generated
from single element revenue arrangements. Sales are recognized
when there is persuasive evidence of an arrangement, delivery
has occurred or services have been performed, the selling price
to the buyer is fixed or determinable and collectability is
reasonably assured. Sales for Fixed-Price Service Contracts that
do not contain measurable units of work performed are generally
recognized on a straight-line basis over the contractual service
period, unless evidence suggests that the revenue is earned, or
obligations fulfilled, in a different manner. Sales for
Fixed-Price Service Contracts that contain measurable units of
work performed are generally recognized when the units of work
are completed. Sales and profit on cost-plus and
time-and-material
type contracts to perform services are recognized in the same
manner as those within the scope of contract accounting
standards, except for incentive and award fees. Cost-based
incentive fees are recognized when they are realizable in the
amount that would be due under the contractual termination
provisions as if the contract was terminated. Performance based
incentive fees and award fees are recorded as sales when awarded
by the customer.
For contracts with multiple deliverables, the Company applies
the separation and allocation guidance under the accounting
standard for revenue arrangements with multiple deliverables,
unless all the deliverables are covered by contract accounting
standards, in which case the Company applies the separation and
allocation guidance under contract accounting standards. Revenue
arrangements with multiple deliverables are evaluated to
determine if the deliverables should be separated into more than
one unit of accounting. The Company recognizes revenue for each
unit of accounting based on the revenue recognition policies
discussed above.
Sales and profit in connection with contracts to provide
services to the U.S. Government that contain collection
risk because the contracts are incrementally funded and subject
to the availability of funds appropriated, are deferred until a
contract modification is obtained, indicating that adequate
funds are available to the contract or task order.
Accounting Standards Issued and Not Yet Implemented:
In October 2009, the Financial Accounting Standards
Board (FASB) issued a revised accounting standard for revenue
arrangements with multiple deliverables. The revision:
(1) removes the
objective-and-reliable-evidence-of-fair-value
criterion from the separation criteria used to determine whether
an arrangement involving multiple deliverables contains more
than one unit of accounting, (2) provides a hierarchy that
entities must use to estimate the selling price,
(3) eliminates the use of the residual method for
allocation, and (4) expands the ongoing disclosure
requirements. The revised accounting standard is effective for
the Company beginning on January 1, 2011, and is not
expected to have a material impact on the Company’s
financial position, results of operations or cash flows.
In October 2009, the FASB issued a revised accounting standard
for certain revenue arrangements that include software elements.
Under the revised standard, tangible products that contain both
software and non-software components that work together to
deliver a product’s essential functionality are excluded
from the scope of pre-existing software revenue recognition
standards. In addition, hardware components of a tangible
product containing software components are excluded from the
scope of software revenue recognition standards. The revised
accounting standard is effective for the Company beginning on
January 1, 2011, and is not expected to have a material
impact on the Company’s financial position, results of
operations or cash flows.
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Research and Development |
Research and Development: Independent research and
development (IRAD) costs sponsored by the Company and bid and
proposal (B&P) costs relate to both U.S. Government
products and services and those for commercial and international
customers. The IRAD and B&P costs for the Company’s
businesses that are U.S. Government contractors are
recoverable indirect contract costs that are allocated to our
U.S. Government contracts in accordance with
U.S. Government procurement regulations, and are
specifically excluded from research and development accounting
standards. The Company includes IRAD and B&P costs
allocated to U.S. Government contracts in inventoried
contract costs, and charges them to costs of sales when the
related contract sales are recognized as revenue. Research and
development costs for the Company’s businesses that are not
U.S. Government contractors are accounted for in accordance
with research and development accounting standards and are
expensed as incurred to cost of sales.
Customer-funded research and development costs are incurred
pursuant to contracts (revenue arrangements) to perform research
and development activities according to customer specifications.
These costs are not accounted for as research and development
expenses, and are also not indirect contract costs. Instead,
these costs are direct contract costs and are expensed to cost
of sales when the corresponding revenue is recognized, which is
generally as the research and development services are
performed. Customer-funded research and development costs are
substantially all incurred under cost-plus type contracts with
the U.S. Government.
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Product Warranties |
Product Warranties: Product warranty costs are
accrued when revenue is recognized for the covered products.
Product warranty expense is recognized based on the terms of the
product warranty and the related estimated costs. Accrued
warranty costs are reduced as product warranty costs are
incurred.
The table below presents the changes in the Company’s
accrued product warranty costs.
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Deferred Debt Issue Costs |
Deferred Debt Issue Costs: Costs to issue
debt are capitalized and deferred when incurred, and
subsequently amortized to interest expense over the term of the
related debt using the effective interest rate method.
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Stock-Based Compensation |
Stock-Based Compensation: The Company follows
the fair value based method of accounting for stock-based
employee compensation, which requires the Company to expense all
stock-based employee compensation. Stock-based employee
compensation is primarily a non-cash expense because the Company
settles these obligations by issuing shares of L-3 Holdings
common stock instead of settling such obligations with cash
payments, except for certain performance unit awards that are
payable in cash.
Compensation expense for all restricted stock, restricted stock
unit and stock option awards is recognized on a straight-line
basis over the requisite service period for the entire award
based on the grant date fair value. All of the stock options
granted to employees by the Company are non-qualified stock
options under U.S. income tax regulations. Compensation
expense for performance units payable in L-3 Holdings common
stock are based on the fair value of the units at the grant date
(measurement date), adjusted each reporting period for progress
towards the target award, and recognized on a straight line
basis over the requisite service period. Compensation expense
for performance units that are payable in cash is based on a
binomial valuation technique (the Monte Carlo valuation model)
adjusted for historical performance each reporting period and
recognized on a straight-line basis over the requisite service
period.
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Income Taxes |
Income Taxes: The Company provides for income
taxes using the liability method. Deferred income tax assets and
liabilities reflect tax carryforwards and the net tax effects of
temporary differences between the carrying amounts of assets and
liabilities for financial reporting and income tax purposes, as
determined under enacted tax laws and rates. The effect of
changes in tax laws or rates is accounted for in the period of
enactment. Valuation allowances for deferred tax assets are
provided when it is more likely than not that the assets will
not be realized, considering, when appropriate, tax planning
strategies.
Income tax accounting standards prescribe (1) a minimum
recognition threshold that an income tax benefit arising from an
uncertain income tax position taken, or expected to be taken, on
an income tax return is required to meet before being recognized
in the financial statements and (2) the measurement of the
income tax benefits recognized from such positions. The
Company’s accounting policy is to classify uncertain income
tax positions that are not expected to be resolved in one year
as non-current income tax liabilities and to classify potential
interest and penalties on uncertain income tax positions as
elements of the provision for income taxes on its financial
statements.
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Cash and Cash Equivalents |
Cash and Cash Equivalents: Cash equivalents
consist of highly liquid investments with an original maturity
of three months or less at the time of purchase.
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Contracts in Process |
Contracts in Process: Contracts in process
include unbilled contract receivables and inventoried contract
costs for which sales and profits are recognized using a POC
method of accounting. Unbilled Contract Receivables represent
accumulated incurred costs and earned profits or losses on
contracts in process that have been recorded as sales, primarily
using the
cost-to-cost
method, which have not yet been billed to customers. Inventoried
Contract Costs represent incurred costs on contracts in process
that have not yet been recognized as costs and expenses because
the related sales, which are primarily recorded using the
units-of-delivery
method, have not been recognized. Contract costs include direct
costs and indirect costs, including overhead costs. As discussed
in Note 5, the Company’s inventoried contract costs
for U.S. Government contracts, and contracts with prime
contractors or subcontractors of the U.S. Government
include allocated general and administrative costs (G&A),
IRAD costs and B&P costs. Contracts in Process contain
amounts relating to contracts and programs with long performance
cycles, a portion of which may not be realized within one year.
For contracts in a loss position, the unrecoverable costs
expected to be incurred in future periods are recorded in
Estimated Costs in Excess of Estimated Contract Value to
Complete Contracts in Process in a Loss Position, which is a
component of Other Current Liabilities. Under the terms of
certain revenue arrangements (contracts) with the
U.S. Government, the Company may receive progress payments
as costs are incurred or milestone payments as work is
performed. The U.S. Government has a security interest in
the Unbilled Contract Receivables and Inventoried Contract Costs
to which progress payments have been applied, and such progress
payments are reflected as a reduction of the related amounts.
Milestone payments that have been received in excess of contract
costs incurred and related estimated profits are reported on the
Company’s balance sheet as Advance Payments and Billings in
Excess of Costs Incurred.
The Company values its acquired contracts in process in
connection with business acquisitions on the date of acquisition
at contract value less the Company’s estimated costs to
complete the contract and a reasonable profit allowance on the
Company’s completion effort commensurate with the profit
margin that the Company earns on similar contracts.
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Inventories |
Inventories: Inventories, other than
Inventoried Contract Costs, are stated at cost
(first-in,
first-out or average cost), but not in excess of realizable
value. A provision for excess or inactive inventory is recorded
based upon an analysis that considers current inventory levels,
historical usage patterns and future sales expectations.
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Property, Plant and Equipment |
Property, Plant and Equipment: Property,
plant and equipment are stated at cost, less accumulated
depreciation. Depreciation is computed by applying principally
the straight-line method to the estimated useful lives of the
related assets. Useful lives range substantially from 10 to
40 years for buildings and improvements and 3 to
10 years for machinery, equipment, furniture and fixtures.
Leasehold improvements are amortized over the shorter of the
lease term or the estimated useful life of the improvements.
When property or equipment is retired or otherwise disposed of,
the net book value of the asset is removed from the
Company’s balance sheet and the net gain or loss is
included in the determination of operating income. Property,
plant and equipment acquired as part of a business acquisition
is valued at fair value.
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Goodwill and Identifiable Intangible Assets |
Goodwill: The carrying value of goodwill and
indefinite lived identifiable intangible assets are not
amortized, but are tested for impairment annually as of November
30 as well as whenever events or changes in circumstances
indicate that the carrying amount of these assets may not be
recoverable using a two-step process for each reporting unit.
The first step in the process is to identify any potential
impairment by comparing the carrying value of a reporting unit
and its fair value. The Company determines the fair value of its
reporting units using a discounted cash flows valuation
approach. If a potential impairment is identified, the second
step is to measure the impairment loss by comparing the implied
fair value of goodwill with the carrying value of goodwill of
the reporting unit. There were no impairment charges that
resulted from the annual impairment assessment or change in
circumstances during 2010, 2009, or 2008.
Identifiable Intangible Assets: Identifiable
intangible assets represent assets acquired as part of the
Company’s business acquisitions and include customer
contractual relationships, technology, favorable leasehold
interests and trade names. The initial measurement of these
intangible assets is based on their fair values. Identifiable
intangible assets are amortized over their estimated useful
lives as the economic benefits are consumed, ranging from 4 to
30 years.
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Derivative Financial Instruments |
Derivative Financial Instruments: The
Company’s derivative financial instruments include foreign
currency forward contracts, which are entered into for risk
management purposes, and an embedded derivative representing the
contingent interest payment provision related to the CODES.
The Company’s U.S. and foreign businesses enter into
contracts with customers, subcontractors or vendors that are
denominated in currencies other than their functional
currencies. To protect the functional currency equivalent cash
flows associated with certain of these contracts, the Company
enters into foreign currency forward contracts. The
Company’s activities involving foreign currency forward
contracts are designed to hedge the changes in the functional
currency equivalent cash flows due to movements in foreign
exchange rates compared to the functional currency. The foreign
currencies hedged are primarily the Canadian dollar, the Euro,
the British pound and the U.S. dollar. The Company manages
exposure to counterparty non-performance credit risk by entering
into foreign currency forward contracts only with major
financial institutions that are expected to fully perform under
the terms of such contracts. Foreign currency forward contracts
are recorded in the Company’s Consolidated Balance Sheets
at fair value and are generally designated and accounted for as
cash flow hedges in accordance with the accounting standards for
derivative instruments and hedging activities. Gains and losses
on designated foreign currency forward contracts that are highly
effective in offsetting the corresponding change in the cash
flows of the hedged transactions are recorded net of income
taxes in accumulated other comprehensive income (loss)
(accumulated OCI) and then recognized in income when the
underlying hedged transaction affects income. Gains and losses
on foreign currency forward contracts that do not meet hedge
accounting criteria are recognized in income immediately.
The embedded derivative related to the issuance of the CODES is
recorded at fair value with changes reflected in the
Consolidated Statements of Operations.
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Translation of Foreign Currency and Foreign Currency Transactions |
Translation of Foreign Currency and Foreign Currency
Transactions: Transactions in foreign currencies are
translated into the local (functional) currency of the
respective business at the approximate prevailing rate at the
time of the transaction. Foreign exchange transaction gains and
losses in the years ended December 31, 2010, 2009 and 2008
are not material to the Company’s results of operations.
The operations of the Company’s foreign subsidiaries are
translated from the local (functional) currencies into
U.S. dollars using weighted average rates of exchange
during each reporting period. The rates of exchange at each
balance sheet date are used for translating the assets and
liabilities of the Company’s foreign subsidiaries. Gains or
losses resulting from these translation adjustments are included
in the accompanying Consolidated Balance Sheets as a component
of accumulated other comprehensive income (loss).
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Accounting for Variable Interest Entities |
In June 2009, the FASB issued a revised standard for the
accounting for variable interest entities (VIE), which replaces
the quantitative-based risks and rewards approach with a
qualitative approach and requires certain additional
disclosures. The new qualitative approach focuses on determining
which entity has the power and control to direct the activities
of a VIE and requires an ongoing assessment of that conclusion.
The revised accounting standard was effective for the Company
beginning on January 1, 2010 and did not have a material
impact on the Company’s financial position, results of
operations or cash flows.
|
X | ||||||||||
- Definition
Basis of Presentation Policy. No definition available.
|
X | ||||||||||
- Definition
Contracts in Process Policy. No definition available.
|
X | ||||||||||
- Definition
Research and Development Policy. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Revised standard for the accounting for variable interest entities. No definition available.
|
X | ||||||||||
- Definition
A description of a company's cash and cash equivalents accounting policy. An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. For a bank, may include explanation and amount of requirement to maintain reserves against deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies. No definition available.
|
X | ||||||||||
- Definition
Describes the entity's accounting policies for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to its employees, including share-based arrangements; describes its methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes the entity's accounting policies with respect to costs incurred to obtain or issue debt, the effects of refinancings, method of amortizing deferred financing costs and original issue discount, and classifications of debt on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policies for its derivative instruments and hedging activities. Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example: whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains (losses) are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity should also consider describing its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes a reporting enterprise's accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lower of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this description includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes an entity's accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction should be disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Summary of Significant Accounting Policies (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued product warranty costs |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisitions and Dispositions (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
|
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Acquisitions and Dispositions (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill by reportable segment |
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Unaudited Pro Forma Statements of Operations Data |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Goodwill by reportable segment. No definition available.
|
X | ||||||||||
- Definition
Pro Forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. This element may be used as a single block of text to encapsulate all disclosures regarding the pro forma results of the combined entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Contracts in Process (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Contracts in Process (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of contracts in process |
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General & Administrative, Independent Research & Development and Bid and Proposal Costs |
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Selling, general and administrative expenses and research and development expenses |
|
X | ||||||||||
- Definition
Components of Contracts in Process. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
General and administrative independent research and development and bid and proposal costs included in inventoried contract costs. No definition available.
|
X | ||||||||||
- Definition
Selling, General and Administrative Expenses and Research and Development Expenses. No definition available.
|
Inventories (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Inventories (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories at Lower of Cost or Market |
|
X | ||||||||||
- Definition
Inventories At Lower Of Cost Or Market. No definition available.
|
X | ||||||||||
- Details
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Goodwill and Identifiable Intangible Assets (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Goodwill and Identifiable Intangible Assets (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill |
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Identifiable Intangible Assets |
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Amortization expense |
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Estimated amortization expense |
|
X | ||||||||||
- Definition
Amortization expense. No definition available.
|
X | ||||||||||
- Definition
Estimated amortization expense. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This block of text may be used to disclose all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill during the period in total and for each reportable segment. At least annually, an Entity must evaluate its goodwill for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Current Liabilities and Other Liabilities (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Other Current Liabilities and Other Liabilities (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other current liabilities |
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Other liabilities |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Other current liabilities. No definition available.
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X | ||||||||||
- Definition
Other LiabilitiesText Block. No definition available.
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Property, Plant and Equipment (Tables)
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Dec. 31, 2010
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Property, Plant and Equipment (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Tables)
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Dec. 31, 2010
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Debt (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of debt and reconciliation to carrying amount |
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Information Regarding Outstanding Senior Subordinated Note |
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Additional information related to Convertible Contingent Debt Securities |
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- Definition
Additional Information Related To Convertible Contingent Debt Securities Text Block. No definition available.
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- Definition
Components Of Debt And Reconciliation To Carrying Amount Text Block. No definition available.
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- Details
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- Definition
Outstanding Senior Subordinated Note Terms Text Block. No definition available.
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Fair Value Measurements (Tables)
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Dec. 31, 2010
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Fair Value Measurements (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company's assets and liabilities at fair value on a recurring basis |
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This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Instruments (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Financial Instruments (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amounts and estimated fair values of the Company's financial instruments |
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Carrying amounts and estimated fair values of financial instruments Text Block. No definition available.
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Derivative Financial Instruments (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Derivative Financial Instruments (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional amounts of the Company's outstanding foreign currency forward contracts by currency |
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Fair values and the location of the Company's derivative instruments in the condensed consolidated balance sheets |
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- Definition
This element can be used as an alternative for disclosing the entity's tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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A table or schedule that identifies and provides pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. No definition available.
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Accumulated Other Comprehensive (Loss) Income (Tables)
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Dec. 31, 2010
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Accumulated Other Comprehensive (Loss) Income (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in the accumulated other comprehensive (loss) income balances, net of related tax effects |
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Changes in the accumulated other comprehensive (loss) income balances, net of related tax effects. No definition available.
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L-3 Holdings' Earnings Per Share (Tables)
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Dec. 31, 2010
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L-3 Holdings' Earnings Per Share (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of basic and diluted earnings per share |
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Reconciliation of basic and diluted earnings per share. No definition available.
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Income Taxes (Tables)
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Dec. 31, 2010
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Income Taxes (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes |
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Components of current and deferred portions of the provision for income taxes |
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Reconciliation of the statutory federal income tax rate to the effective income tax rate |
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Components of net deferred tax assets and liabilities |
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Classification of deferred tax assets and liabilities |
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Reconciliation of the change in unrecognized income tax benefits, excluding interest and penalties |
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- Definition
Classification of deferred tax assets and liabilities. No definition available.
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- Definition
Components of the current and deferred portions of the provision for income taxes. No definition available.
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- Definition
Components of deferred tax assets and liabilities. No definition available.
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- Definition
Income before income taxes Text Block. No definition available.
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- Details
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- Definition
Reconciliation of the change in unrecognized income tax benefits, excluding interest and penalties. No definition available.
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X | ||||||||||
- Definition
Reconciliation of the statutory federal income tax rate to the effective income tax rate. No definition available.
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Stock-Based Compensation (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Employee Stock Based Compensation (Tables) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company's stock option activity and changes |
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Weighted average assumptions in valuation model |
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Company's nonvested restricted stock unit awards and changes |
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Company's performance unit awards based on expected performance |
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- Definition
Companys Nonvested Restricted Stock Unit Awards And Changes Text Block. No definition available.
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- Definition
Companys performance unit awards based on expected performance Text Block. No definition available.
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- Definition
Companys Stock Option Activity And Changes Text Block. No definition available.
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- Details
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- Definition
Weighted average assumptions in valuation model. No definition available.
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Commitments and Contingencies (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Commitments and Contingencies (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future minimum payments under non-cancelable operating leases |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
General description of lessee's leasing arrangements including: (1) The basis on which contingent rental payments are determined, (2) The existence and terms of renewal or purchase options and escalation clauses, (3) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) Rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Pensions and Other Employee Benefits (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Pensions and Other Employee Benefits (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in benefit obligations, plan assets and funded status and aggregate balance sheet impact |
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Net loss and prior service cost balances in accumulated other comprehensive loss account |
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Pension plans with an ABO in excess of fair value of plan assets |
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Weighted average assumptions used to determine benefit obligations |
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Components of net periodic benefit cost |
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Other changes in plan assets and benefit obligations recognized in other comprehensive income |
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Amounts expected to be amortized from accumulated other comprehensive (loss) income and recognized as components of net periodic benefit costs |
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Weighted average assumptions used to determine net periodic benefit cost |
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Effect of one percentage point change in assumed health care cost trend rates |
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Allowable range for each major category of the plans' assets and weighted-average asset allocations by asset category |
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Fair value of the Company's pension plans' and postretirement benefit plans' assets |
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Estimated Future Benefit Payments |
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- Definition
Allowable range for each major category of the plans assets and weighted-average asset allocations by asset category Text Block. No definition available.
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- Definition
Amounts expected to be amortized from accumulated other comprehensive (loss) income and recognized as components of net periodic benefit costs Text Block. No definition available.
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Changes in benefit obligations plan assets and funded status and aggregate balance sheet impact. No definition available.
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- Definition
Components of net periodic benefit cost Text Block. No definition available.
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- Definition
Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates Text Block. No definition available.
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- Definition
Estimated Future Benefit Payments Text Block. No definition available.
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- Definition
Fair value of the Company's pension plans' and postretirement benefit plans' assets Text Block. No definition available.
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Net loss and prior service cost balances in accumulated other comprehensive loss account Text Block. No definition available.
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Other changes in plan assets and benefit obligations recognized in other comprehensive income Text Block. No definition available.
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Pension plans with an ABO in excess of fair value of plan assets Text Block. No definition available.
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Weighted average assumptions used to determine benefit obligations Text Block. No definition available.
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Weighted average assumptions used to determine net periodic benefit cost Text Block. No definition available.
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Supplemental Cash Flow Information (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Supplemental Cash Flow Information (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Cash Flow Information |
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Supplemental Cash Flow Information. No definition available.
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Segment Information (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Segment Information (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Segment Information |
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Company's sales attributable to U.S. customers and foreign customers |
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Net sales to principal customers |
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- Definition
Net Sales To Principal Customers Text Block. No definition available.
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Schedule Of Revenue From External Customers Attributed To Domestic Country And Foreign Countries by Geographic Area Text Block. No definition available.
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- Definition
This element may be used to capture the complete disclosure about the profit or loss and total assets for each reportable segment, as a single block of text. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Unaudited Quarterly Financial Data (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Unaudited Quarterly Financial Data (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company's unaudited quarterly results of operations |
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Companys Unaudited Quarterly Results Of Operations Text Block. No definition available.
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Financial Information of L-3 Communications and Its Subsidiaries (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Financial Information of L-3 Communications and Its Subsidiaries (Tables) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Combining Statements of Equity |
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Condensed Combining Balance Sheets |
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Condensed Combining Statements of Operations |
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Condensed Combining Statements of Cash Flows |
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X | ||||||||||
- Definition
Condensed Combining Balance Sheet. No definition available.
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X | ||||||||||
- Definition
Condensed Combining Statements of Cash Flows. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Condensed Combining Statements of Equity. No definition available.
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X | ||||||||||
- Definition
Condensed Combining Statements of Operations. No definition available.
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Description of Business (Details)
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12 Months Ended |
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Dec. 31, 2010
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Description of Business (Textuals) | |
Number of reportable segments | 4 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Number of reportable segments. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The maximum useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. No definition available.
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X | ||||||||||
- Definition
The minimum useful life of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total liability for standard and extended product warranties acquired in a business acquisition. No definition available.
|
X | ||||||||||
- Definition
Total increase (decrease) in the standard and extended product warranty liability due to currency translation. No definition available.
|
X | ||||||||||
- Definition
Represents the aggregate decrease in the liability related to payments to satisfy claims for standard and extended product warranties. No definition available.
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X | ||||||||||
- Definition
Represents the aggregate increase (decrease) in the liability during the reporting period for accruals related to preexisting standard and extended product warranties (including adjustments for changes in estimates). No definition available.
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X | ||||||||||
- Definition
Represents the aggregate increase in the liability for accruals related to standard and extended product warranties issued during the reporting period. No definition available.
|
X | ||||||||||
- Definition
Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment). No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Aggregate Purchase price. No definition available.
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X | ||||||||||
- Definition
Certain tax benefits acquired. No definition available.
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X | ||||||||||
- Definition
Change in Ownership Interest in Business. No definition available.
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X | ||||||||||
- Definition
Gain on Sale of Interest in Buisness, Before Income Taxes. No definition available.
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X | ||||||||||
- Definition
Gain on Sale of Interest in Business, Net of Income Taxes. No definition available.
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X | ||||||||||
- Definition
Gain on Sale of Product Line, Before Income Taxes. No definition available.
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X | ||||||||||
- Definition
Gain on Sale of Product Line, Net of Income Taxes. No definition available.
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X | ||||||||||
- Definition
Loss On Sale Of Interest In Business Net Of Income Taxes. No definition available.
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X | ||||||||||
- Definition
Maximum amount of purchase price adjustment post-acquisition. No definition available.
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X | ||||||||||
- Definition
Net working capital adjustment. No definition available.
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X | ||||||||||
- Definition
Number of businesses acquired. No definition available.
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X | ||||||||||
- Definition
Ownership Interest Sold in METI. No definition available.
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X | ||||||||||
- Definition
Purchase price for ownership in METI. No definition available.
|
X | ||||||||||
- Definition
The calculated weighted-average amortization period of a major class of finite-lived intangible assets acquired during the current period either individually or as part of a group of assets (in either an asset acquisition or business combination). A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Fair value, as of the acquisition date, of potential payments under the contingent consideration arrangement including cash and shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of potential cash payments that could result from the contingent consideration arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The pro forma net income (loss) for the period as if the business combination or combinations had been completed at the beginning of a period Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash and cash equivalents acquired in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of goodwill arising from a business combination that is expected to be deductible for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of identifiable intangible assets recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Carrying amount attributed to the reportable segment of goodwill (adjusted for any amortization and impairment charges), which is the cumulative amount paid in excess of the fair value of net assets acquired in one or more business combination transactions. No definition available.
|
X | ||||||||||
- Definition
Amounts charged to cost of sales. No definition available.
|
X | ||||||||||
- Definition
Amounts included in acquired inventoried contract costs. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Contract costs incurred. No definition available.
|
X | ||||||||||
- Definition
Net unbilled contract receivables and net inventoried contract costs. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
General & Administrative, Independent Research & Development and Bid & Proposal Costs Included in Inventoried Contract costs at beginning of period. No definition available.
|
X | ||||||||||
- Definition
General & Administrative, Independent Research & Development and Bid & Proposal Costs Included in Inventoried Contract costs at end of period. No definition available.
|
X | ||||||||||
- Definition
Independent research and development and bid and proposal costs included in inventoried contract costs. No definition available.
|
X | ||||||||||
- Definition
Inventoried contract costs, gross. No definition available.
|
X | ||||||||||
- Definition
Percentage of incurred costs billed, maximum. No definition available.
|
X | ||||||||||
- Definition
Percentage of incurred costs billed, minimum. No definition available.
|
X | ||||||||||
- Definition
Percentage of unbilled contract receivables billed and collected within one year. No definition available.
|
X | ||||||||||
- Definition
The aggregate costs for the company's commercial businesses, not included included in inventoried contract costs, incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. No definition available.
|
X | ||||||||||
- Definition
The aggregate total costs of selling the company's commerical businesses products and services, as well as all other general and administrative expenses not included in inventoried contract costs. Direct selling expenses (for example, credit and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. No definition available.
|
X | ||||||||||
- Definition
Selling, General and Administrative Expenses and Research and Development Expenses for the company's commercial businesses. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Gross unbilled amounts due for services rendered or to be rendered, actions taken or to be taken, or a promise to refrain from taking certain actions in accordance with the terms of a legally binding agreement between the entity and, at a minimum, one other party. An example would be gross amounts associated with contracts or programs where the recognized revenue for performance thereunder exceeds the amounts billed under the terms thereof as of the date of the balance sheet. No definition available.
|
X | ||||||||||
- Definition
unliquidated progress payments for Inventoried contract costs. No definition available.
|
X | ||||||||||
- Definition
unliquidated progress payments for Unbilled contract receivables. No definition available.
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of inventories associated with long-term contracts or programs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Unbilled amounts due for services rendered or to be rendered, actions taken or to be taken, or a promise to refrain from taking certain actions in accordance with the terms of a legally binding agreement between the entity and, at a minimum, one other party. An example would be amounts associated with contracts or programs where the recognized revenue for performance thereunder exceeds the amounts billed under the terms thereof as of the date of the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Inventories (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Inventories at Lower of Cost or Market | ||
Raw materials, components and sub-assemblies | $ 114 | $ 92 |
Work in process | 130 | 129 |
Finished goods | 59 | 37 |
Total | $ 303 | $ 258 |
X | ||||||||||
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Excludes inventoried contract costs already included in CIP. No definition available.
|
X | ||||||||||
- Definition
Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregated amount of unprocessed materials to be used in manufacturing or production process and supplies that will be consumed. This amount is net of valuation reserves and adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of goodwill related to business acquisition in year. No definition available.
|
X | ||||||||||
- Definition
Amount of goodwill related to earnouts from certain business acquisitions before year. No definition available.
|
X | ||||||||||
- Definition
Amount of goodwill related to final purchase price determinations for certain business acquisitions completed before year. No definition available.
|
X | ||||||||||
- Definition
Approximate number of employees. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Segment reclassification of goodwill allocated to the reportable segments of company. No definition available.
|
X | ||||||||||
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount of amortization expense recognized for intangible asset during the period. A recognized intangible asset shall be amortized over its estimated useful life to the reporting entity unless that life is determined to be indefinite. If an intangible asset has a finite useful life, but the precise length of that life is not known, that intangible asset shall be amortized over the best estimate of its useful life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets having statutory or estimated useful lives. The aggregate gross carrying amount (including any previously recognized impairment charges) of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The calculated weighted-average useful life of all finite-lived intangible assets. No definition available.
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the fifth twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the fourth twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the third twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the second twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Reflects net changes to the recorded value of goodwill for foreign currency translation adjustments and purchase accounting adjustments needed to revise the carrying amount of goodwill to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Write-off of the carrying amount of goodwill associated with all or a portion of a reporting unit that is sold in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Other Current Liabilities and Other Liabilities (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Sep. 17, 2010
|
Dec. 31, 2009
|
---|---|---|---|
Other Current Liabilities: | |||
Accruals for pending and threatened litigation (see Note 19) | $ 19 | $ 2 | |
Accrued product warranty costs | 86 | 90 | |
Estimated costs in excess of estimated contract value to complete contracts in process in a loss position | 93 | 81 | |
Accrued interest | 75 | 76 | |
Deferred revenues | 34 | 28 | |
Aggregate purchase price payable for acquired businesses | 0 | 4 | |
Other | 82 | 90 | |
Total other current liabilities | 389 | 371 | |
Other Liabilities: | |||
Non-current income taxes payable (see Note 17) | 248 | 232 | |
Deferred compensation | 53 | 83 | |
Accrued workers' compensation | 57 | 46 | |
Estimated contingent purchase price payable for acquired businesses | 9 | 9 | 0 |
Notes payable and capital lease obligations | 10 | 10 | |
Accrued product warranty costs | 6 | 9 | |
Other | 103 | 90 | |
Total other liabilities | $ 486 | $ 470 |
X | ||||||||||
- Definition
The additional purchase price of the acquired entity generally resulting from purchase price obligations resulting from contractual or contingent obligations recorded pursuant to the purchase agreement and subsequent to the completion of the acquisition. No definition available.
|
X | ||||||||||
- Definition
Fair value, as of the acquisition date, of potential payments under the contingent consideration arrangement including cash and shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements payable beyond one year (or the operating cycle, if longer). No definition available.
|
X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount of reserve for known or estimated probable loss from litigation, which may include attorneys' fees and other litigation costs, which is expected to be paid within one year of the date of the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of current obligations not separately disclosed in the balance sheet due to materiality considerations. Current liabilities are expected to be paid within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Obligations not otherwise itemized or previously categorized that are due beyond one year (or operating cycle, if longer) from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Obligations not otherwise itemized or previously categorized that are due within one year or operating cycle, if longer, from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer) for estimated claims under standard and extended warranty protection rights granted to customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount by which the estimate of total contract revenue is exceeded by the estimate of total contract costs. May also include anticipated contract penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations and payables pertaining to claims incurred of a workers compensation nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Property, Plant and Equipment (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Property, Plant and Equipment | ||
Land | $ 64 | $ 57 |
Buildings and improvements | 366 | 321 |
Machinery, equipment, furniture and fixtures | 1,280 | 1,167 |
Leasehold improvements | 276 | 253 |
Gross property, plant and equipment | 1,986 | 1,798 |
Accumulated depreciation and amortization | (1,063) | (944) |
Property, plant and equipment, net | $ 923 | $ 854 |
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of long-lived, depreciable asset used in production process to produce goods and services, or commonly used in offices and stores (examples include desks, chairs, and store fixtures). No definition available.
|
X | ||||||||||
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of long-lived, depreciable assets that include building structures held for productive use including any addition, improvement, or renovation to the structure, such as interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of real estate held for productive use. This excludes land held for sale. No definition available.
|
X | ||||||||||
- Definition
Carrying amount at the balance sheet date of long-lived, depreciable asset that is an addition or improvement to assets held under lease arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Carrying amount at the balance sheet date for long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, physical structures, machinery, vehicles, furniture, computer equipment, construction in progress, and similar items. Amount does not include depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Principal amount of convertible debt as of the balance sheet date, which can be converted into cash under certain circumstances, at the option of the issuer, and if the settlement amount exceeds the principal amount, the excess will be settled in cash or stock or a combination thereof, at the Company's option. No definition available.
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year ten following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. No definition available.
|
X | ||||||||||
- Definition
Long Term Debt Noncurrent Subtotal. No definition available.
|
X | ||||||||||
- Definition
Amount of outstanding principal due under the debt instrument at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Debt (Details 1) (USD $)
In Millions, unless otherwise specified |
5 Months Ended | 12 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
May 21, 2010
|
Dec. 31, 2010
5 7/8% Senior Subordinated Notes [Member]
L-3 Communications [Member]
|
Dec. 31, 2010
5 7/8% Senior Subordinated Notes [Member]
L-3 Communications [Member]
|
Dec. 31, 2010
6 3/8% Senior Subordinated Notes [Member]
L-3 Communications [Member]
|
Dec. 31, 2010
6 3/8% Senior Subordinated Notes [Member]
L-3 Communications [Member]
|
|
Information Regarding Outstanding Senior Subordinated Note | |||||
Date of Issuance | November 12, 2004 | July 29, 2005 | |||
Amount Issued | $ 650 | $ 1,000 | |||
Discount | 0 | 9 | |||
Net Cash Proceeds | $ 790 | $ 639 | $ 972 | ||
Effective Interest Rate | 5.875% | 6.47% | |||
Current Call Date | Jan. 15, 2011 | Oct. 15, 2010 | |||
Redemption Price % of Principal | 101.958% | 103.188% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Redemption Price Percentage of Principal. No definition available.
|
X | ||||||||||
- Definition
The earliest date, before maturity, on which the issuer can call the outstanding debt instrument for repayment or conversion to equity, which may be presented in a variety of ways (year only, month and year, day, month and year, quarter, etc.). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when the debt instrument was issued, which may be presented in a variety of ways (year, month and year, day, month and year, quarter, etc.). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Debt (Details 2) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Additional information related to Convertible Contingent Debt Securities | ||
Carrying amount of the equity component (conversion feature) | $ 64 | $ 64 |
Unamortized discount of liability component being amortized through February 1, 2011 | 2 | 24 |
Net carrying amount of liability component | $ 698 | $ 676 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Net carrying amount of liability component. No definition available.
|
X | ||||||||||
- Definition
Unamortized Discount Of Liability Component Being Amortized. No definition available.
|
X | ||||||||||
- Definition
The carrying amount of the equity component of convertible debt which may be settled in cash upon conversion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Debt (Details Textual) (USD $)
|
3 Months Ended | 5 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2009
|
May 21, 2010
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2010
Convertible Debt Securities [Member]
|
Jul. 31, 2011
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2010
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2009
L-3 Holdings (Parent) [Member]
|
Aug. 01, 2035
L-3 Holdings (Parent) [Member]
|
Feb. 02, 2011
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2010
L-3 Holdings (Parent) [Member]
|
Aug. 04, 2005
L-3 Holdings (Parent) [Member]
|
Jul. 29, 2005
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2010
L-3 Holdings (Parent) [Member]
Convertible Debt Securities [Member]
|
Aug. 04, 2005
L-3 Holdings (Parent) [Member]
Convertible Debt Securities [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
|
Dec. 31, 2009
L-3 Communications [Member]
|
Oct. 23, 2009
L-3 Communications [Member]
|
Oct. 02, 2009
L-3 Communications [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
5 7/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
5 7/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
6 3/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
6 3/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2009
L-3 Communications [Member]
7.625% Senior Notes Due, 2012 [Member]
|
Nov. 02, 2009
L-3 Communications [Member]
7.625% Senior Notes Due, 2012 [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2020 [Member]
|
May 21, 2010
L-3 Communications [Member]
Notes due 2020 [Member]
|
Feb. 07, 2011
L-3 Communications [Member]
Notes due 2021 [Member]
|
Mar. 31, 2011
L-3 Communications [Member]
Notes due 2015 [Member]
5 7/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2015 [Member]
5 7/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2015 [Member]
6 3/8% Senior Subordinated Notes [Member]
|
Mar. 31, 2011
L-3 Communications [Member]
Notes due 2015 [Member]
6 7/8% Senior Subordinated Notes [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2013 and 2014 [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2014 [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2013 [Member]
|
Dec. 31, 2009
L-3 Communications [Member]
Notes due 2019 [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
Notes due 2019 [Member]
|
Oct. 02, 2009
L-3 Communications [Member]
Notes due 2019 [Member]
|
|
Debt (Textuals) | ||||||||||||||||||||||||||||||||||||||
Aggregate principal amount 4.95% Senior Notes issued | $ 650,000,000 | $ 1,000,000,000 | $ 800,000,000 | $ 650,000,000 | $ 650,000,000 | $ 800,000,000 | $ 1,000,000,000 | |||||||||||||||||||||||||||||||
Unamortized discount of liability component being amortized through February 1, 2011 | 24,000,000 | 2,000,000 | 24,000,000 | |||||||||||||||||||||||||||||||||||
Outstanding letters of credit | 32,000,000 | 17,000,000 | 32,000,000 | 0 | 0 | |||||||||||||||||||||||||||||||||
Total aggregate borrowings under revolving credit facility | 1,000,000,000 | |||||||||||||||||||||||||||||||||||||
Period representing redemption price of principal starting on the first allowable date of redemption | 12 Months | |||||||||||||||||||||||||||||||||||||
Ultimate redemption price percentage of principal starting three years from the first allowable date of redemption, and thereafter | 100.00% | |||||||||||||||||||||||||||||||||||||
Interest rate under the new Revolving Credit Facility bear interest | either base rate plus applicable spread or LIBOR rate plus applicable spread | |||||||||||||||||||||||||||||||||||||
Base Rate under the new Revolving Credit Facility | higher of (a) 0.50% per annum above the latest federal funds rate, (b) the Bank of America “prime rate” (as defined in the Revolving Credit Facility), and (c) 1.00% per annum above a “LIBOR rate” (as defined in the Revolving Credit Facility) | |||||||||||||||||||||||||||||||||||||
Libor Rate Under new revolving credit facility | "LIBOR rate" (as defined in the Revolving Credit Facility) | |||||||||||||||||||||||||||||||||||||
Commitment fees calculated on the daily amounts of the available unused commitments | commitment fees calculated on the daily amounts of the available unused commitments at a rate ranging from 0.375% to 0.75% per annum | |||||||||||||||||||||||||||||||||||||
Fees For Performance and Commercial Letters of Credit | letter of credit fees ranging from 1.50% to 2.67% per annum for performance and commercial letters of credit | |||||||||||||||||||||||||||||||||||||
Letter of credit fees for financial letters of credit | letter of credit fees ranging from 2.25% to 4.00% for financial letters of credit | |||||||||||||||||||||||||||||||||||||
Applicable spread on base rate option | ranging from 1.25% to 3.00% per annum | |||||||||||||||||||||||||||||||||||||
Applicable spread on LIBOR rate option | ranging from 2.25% to 4.00% per annum | |||||||||||||||||||||||||||||||||||||
Current convertible common stock price | 118.73 | |||||||||||||||||||||||||||||||||||||
Circumstance one for conversion of convertible contingent debt | on any date during any fiscal quarter beginning after September 30, 2005, but before August 1, 2033 if the closing sales price of the common stock is more than 120% of the then current conversion price for at least 20 trading days in the 30 consecutive trading-day period ending on the last trading day of the previous fiscal quarter | |||||||||||||||||||||||||||||||||||||
Circumstance two for conversion of convertible contingent debt | on or after August, 1, 2033, at all times on or after any date on which the closing sale price of the common stock is more than 120% of the then current conversion price | |||||||||||||||||||||||||||||||||||||
Circumstance three for conversion of convertible contingent debt | if distribute to all holders of common stock, rights or warrants (other than pursuant to a rights plan) entitling them to purchase, for a period of 45 calendar days or less, shares at a price less than the average closing sales price for the ten trading days preceding the declaration date for such distribution | |||||||||||||||||||||||||||||||||||||
Circumstance four for conversion of convertible contingent debt | if distribute to all holders of common stock, cash and other assets, debt securities or rights to purchase shares (other than pursuant to a rights plan), which distribution has a per share value exceeding 10% of the closing sale price of common stock on the trading day preceding the declaration date for such distribution | |||||||||||||||||||||||||||||||||||||
Circumstance five for conversion of convertible contingent debt | during the five consecutive business-day period following any five consecutive trading-day period in which the average trading price of the CODES was less than 98% of the average of the closing sale price of common stock during such five trading day period multiplied by the then current conversion rate | |||||||||||||||||||||||||||||||||||||
Circumstance six for conversion of convertible contingent debt | during a specified period if the CODES have been called for redemption | |||||||||||||||||||||||||||||||||||||
Circumstance seven for conversion of convertible contingent debt | during a specified period if a “fundamental change” (as such term is defined in the indenture governing the CODES) occurs | |||||||||||||||||||||||||||||||||||||
Effective Interest Rate | 6.33% | 5.875% | 6.47% | 4.79% | 5.02% | 5.25% | ||||||||||||||||||||||||||||||||
Period of interest payable | semi annually | semi annually | ||||||||||||||||||||||||||||||||||||
Net cash proceeds after deducting the discounts, commissions and estimated expenses | 790,000,000 | 639,000,000 | 972,000,000 | 640,000,000 | 987,000,000 | |||||||||||||||||||||||||||||||||
Redemption of senior subordinated notes | 800,000,000 | 750,000,000 | 800,000,000 | 750,000,000 | 750,000,000 | |||||||||||||||||||||||||||||||||
Discount | (38,000,000) | (13,000,000) | 0 | 9,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||
Amount of discount on notes issued | 3,000,000 | 4,000,000 | ||||||||||||||||||||||||||||||||||||
Debt retirement charge | 10,000,000 | 18,000,000 | 18,000,000 | |||||||||||||||||||||||||||||||||||
Debt retirement charge after income tax | 6,000,000 | 11,000,000 | 11,000,000 | |||||||||||||||||||||||||||||||||||
Debt retirement charge after income tax, per diluted share | $ 0.10 | $ 0.10 | ||||||||||||||||||||||||||||||||||||
Senior subordinated notes | 3.00% | 3.00% | 3.00% | 7.63% | 4.75% | 4.75% | 4.95% | 5.875% | 6.375% | 6.875% | 6.125% | 6.125% | 5.20% | 5.20% | ||||||||||||||||||||||||
Repayment of outstanding term loan | 650,000,000 | 650,000,000 | ||||||||||||||||||||||||||||||||||||
Redemption price of notes | greater of: (1) 100% of the principal amount, or (2) the present value of the remaining principal and interest payments discounted to the date of redemption, on a semi-annual basis, at the Treasury Rate (as defined in the Indenture dated as of October 2, 2009 (the Senior Indenture)), plus 0.25% for the 2020 and 2021 Senior Notes and 0.30% for the 2019 Senior Notes. | 101.958% of the principal amount, plus accrued and unpaid interest to March 9, 2011., the redemption date | ||||||||||||||||||||||||||||||||||||
Repurchase price of notes above interest | 101.00% | |||||||||||||||||||||||||||||||||||||
Redemption prices | 100.00% | |||||||||||||||||||||||||||||||||||||
Sale of 3% convertible contingent debt securities by L-3 Holdings | 100,000,000 | 600,000,000 | ||||||||||||||||||||||||||||||||||||
Interest expense recognized | 43,000,000 | 42,000,000 | ||||||||||||||||||||||||||||||||||||
Conversion rate of common share per thousand dollors of principal amount of CODES | 10.1074 | |||||||||||||||||||||||||||||||||||||
Settlement amount upon conversion of CODES option One in cash | each one thousand dollars in principal amount of the CODES converted cash in an amount equal to the conversion value | |||||||||||||||||||||||||||||||||||||
Settlement amount upon conversion of the CODES option two in a combination of cash and common stock condition one | deliver to the holder for each one thousand dollars in principal amount of the CODES converted (x) cash in an amount equal to (i) the fixed dollar amount per one thousand dollars in principal amount of the CODES of the conversion obligation to be satisfied in cash specified in the notice regarding L-3 Holdings’ chosen method of settlement or, if lower, the conversion value | |||||||||||||||||||||||||||||||||||||
Settlement amount upon conversion of the CODES option two in a combination of cash and common stock condition two | the percentage of the conversion obligation to be satisfied in cash specified in the notice regarding L-3 Holdings chosen method of settlement multiplied by the conversion value, as the case may be (the “cash amount”) | |||||||||||||||||||||||||||||||||||||
Minimum cash amount under settlement of CODES | provided that in either case the cash amount shall in no event be less than the lesser of (a) the principal amount of the CODES converted and (b) the conversion value | |||||||||||||||||||||||||||||||||||||
Number of shares of common stock for each of the 20 trading days in the conversion period | a number of shares of common stock of L-3 Holdings for each of the 20 trading days in the conversion period equal to 1/20th of (i) the conversion rate then in effect minus (ii) the quotient of the cash amount divided by the closing price of common stock of L-3 Holdings for that day (plus cash in lieu of fractional shares, if applicable) | |||||||||||||||||||||||||||||||||||||
Percentage amount for getting right to receive contingent interest payments | equals or exceeds 120% of the principal amount of the CODES | |||||||||||||||||||||||||||||||||||||
Cash redemption price in CODES | equal to 100% of the principal amount | |||||||||||||||||||||||||||||||||||||
Number of trading days ending on the second trading day preceding the first day of the applicable six month interest period | 5 | |||||||||||||||||||||||||||||||||||||
Repurchases by the holders of the CODES | 11,000,000 | |||||||||||||||||||||||||||||||||||||
Repurchased CODES that have been classified as a current liability | 11,000,000 | |||||||||||||||||||||||||||||||||||||
Remaining CODES that have been reclassified as long-term debt | 689,000,000 | |||||||||||||||||||||||||||||||||||||
Percentage of average trading price of one thousand dollars in principal amount of CODES for contingent interest payable | 0.25% | |||||||||||||||||||||||||||||||||||||
Conversion price of L-3 Holdings' CODES | 100.14 | 98.94 | 100.14 | |||||||||||||||||||||||||||||||||||
Available borrowings under revolving credit facility | $ 968,000,000 | $ 983,000,000 | $ 968,000,000 | |||||||||||||||||||||||||||||||||||
Maximum consolidated leverage ratio under revolving credit facility covenants | The Company’s consolidated leverage ratio be less than or equal to 4.0 to 1.0 | |||||||||||||||||||||||||||||||||||||
Maximum consolidated interest coverage ratio under revolving credit facility covenants | The Company’s consolidated interest coverage ratio be greater than or equal to 3.0 to 1.0 | |||||||||||||||||||||||||||||||||||||
Maximum consolidated senior leverage ratio under revolving credit facility covenants | The Company’s consolidated senior leverage ratio be less than or equal to 3.5 to 1.0 | |||||||||||||||||||||||||||||||||||||
Maximum redemption or maturity period after maturity date of existing notes | Capital stock that matures or is redeemable 91 days or less after the maturity date of such series of notes | |||||||||||||||||||||||||||||||||||||
Minimum fixed charge coverage ratio under senior subordinated notes indentures covenants | Company’s fixed charge coverage ratio would have been at least 2.0 to 1.0 on a pro forma basis | |||||||||||||||||||||||||||||||||||||
Revolving credit facility permits to wholly owned subsidiary | to pay other dividends on and make other redemptions of its equity interests (including for the benefit of L-3 Holdings) and make other investments in L-3 Holdings, so long as no default or event of default has occurred and is continuing, up to an aggregate amount of $2.0 billion, increased (or decreased) on a cumulative basis at the end of each quarter, commencing with the quarter ended December 31, 2009 by an amount equal to 50% of the consolidated net income (or deficit) of L-3 Communications for the quarter, plus (1) 100% of the proceeds from any issuance of capital stock (other than disqualified preferred stock) by L-3 Holdings after October 23, 2009, provided those proceeds were invested in L-3 Communications, plus (2) 100% of the proceeds from any issuance of indebtedness or disqualified preferred stock by L-3 Holdings after October 23, 2009 provided those proceeds were invested in L-3 Communications and the indebtedness or disqualified preferred stock is not guaranteed by L-3 Communications, plus (3) 100% of the proceeds from any issuance of capital stock (other than disqualified preferred stock) by L-3 Communications after October 23, 2009 | |||||||||||||||||||||||||||||||||||||
Ablility to incur additional indebtedness under the fixed charge coverage ratio test | at least one dollar | |||||||||||||||||||||||||||||||||||||
Minimum aggregate amount of indebtness, swap contracts or uarantees to trigger cross default provisions | The aggregate amount of such indebtedness, swap contracts or guarantees is at least $50 million | |||||||||||||||||||||||||||||||||||||
Maximum days to cure defaults triggering cross default provisions | Such defaults (other than payment defaults and defaults that have resulted in acceleration) have not been cured within 10 days | |||||||||||||||||||||||||||||||||||||
Minimum aggregate principal amount of senior subordinated notes accelerated to trigger cross default provisions | Holders of the indebtedness of L-3 Holdings, L-3 Communications or their restricted subsidiaries (or the payment of which is guaranteed by such entities) accelerate at least $10 million in aggregate principal amount of those obligations | |||||||||||||||||||||||||||||||||||||
Minimum aggregate amount of senior notes accelerated to trigger cross default provisions | Any indenture or instrument of L-3 Communications or its subsidiaries or the payment of which is guaranteed by L-3 Communications or its subsidiaries in an aggregate amount of at least $100 million |
X | ||||||||||
- Definition
Ablility to incur additional indebtedness under the fixed charge coverage ratio test. No definition available.
|
X | ||||||||||
- Definition
The amount of note discount on the newly issued note that will be amortized over the life of the note. No definition available.
|
X | ||||||||||
- Definition
Applicable spread on base rate option. No definition available.
|
X | ||||||||||
- Definition
Applicable spread on LIBOR rate option. No definition available.
|
X | ||||||||||
- Definition
Base Rate under the new Revolving Credit Facility. No definition available.
|
X | ||||||||||
- Definition
Cash redemption price. No definition available.
|
X | ||||||||||
- Definition
Circumstance five for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Circumstance four for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Circumstance one for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Circumstance seven for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Circumstance six for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Circumstance three for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Circumstance two for conversion of convertible contingent debt. No definition available.
|
X | ||||||||||
- Definition
Commitment fees calculated on the daily amounts of the available unused commitments. No definition available.
|
X | ||||||||||
- Definition
Current convertible common stock price, which is 120% of the current conversion price. Used for calculating the conversion of its convertible debt as contained in the provisions of the Convertible Contingent Debt Securities, which is used under certain conditions to settle the principal in cash based on a 120% of the conversion price, and if the settlement amount exceeds the principal amount, the excess will be settled in cash or stock or a combination thereof, at the Company's option. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Fees For Performance and Commercial Letters of Credit. No definition available.
|
X | ||||||||||
- Definition
Letter of credit fees for financial letters of credit. No definition available.
|
X | ||||||||||
- Definition
Libor Rate Under new revolving credit facility. No definition available.
|
X | ||||||||||
- Definition
Maximum consolidated interest coverage ratio under revolving credit facility covenants. No definition available.
|
X | ||||||||||
- Definition
Maximum consolidated leverage ratio under revolving credit facility covenants. No definition available.
|
X | ||||||||||
- Definition
Maximum consolidated senior leverage ratio under revolving credit facility covenants. No definition available.
|
X | ||||||||||
- Definition
Maximum days to cure defaults triggering cross default provisions. No definition available.
|
X | ||||||||||
- Definition
Maximum redemption or maturity period after maturity date of existing notes. No definition available.
|
X | ||||||||||
- Definition
Minimum aggregate amount of indebtness, swap contracts or uarantees to trigger cross default provisions. No definition available.
|
X | ||||||||||
- Definition
Minimum aggregate amount of senior notes accelerated to trigger cross default provisions. No definition available.
|
X | ||||||||||
- Definition
Minimum aggregate principal amount of senior subordinated notes accelerated to trigger cross default provisions. No definition available.
|
X | ||||||||||
- Definition
Minimum cash amount under settlement of CODES. No definition available.
|
X | ||||||||||
- Definition
Minimum fixed charge coverage ratio under senior subordinated notes indentures covenants. No definition available.
|
X | ||||||||||
- Definition
Number of shares of common stock for each of the 20 trading days in the conversion period. No definition available.
|
X | ||||||||||
- Definition
Number of trading days ending on the second trading day preceding the first day of the applicable six-month interest period. No definition available.
|
X | ||||||||||
- Definition
Percentage amount for getting right to receive contingent interest payments. No definition available.
|
X | ||||||||||
- Definition
Percentage of average trading price of one thousand dollars in principal amount of CODES for contingent interest payable. No definition available.
|
X | ||||||||||
- Definition
Period representing redemption price of principal starting on the first allowable date of redemption. No definition available.
|
X | ||||||||||
- Definition
Principal amount of convertible debt sold. No definition available.
|
X | ||||||||||
- Definition
Redemption Price Decline Of Principal. No definition available.
|
X | ||||||||||
- Definition
Redemption price of notes. No definition available.
|
X | ||||||||||
- Definition
Remaining CODES that have been reclassified as long-term debt. No definition available.
|
X | ||||||||||
- Definition
Repurchased Codes That Have Been Classified As Current Liability. No definition available.
|
X | ||||||||||
- Definition
Repurchase price of notes above interest. No definition available.
|
X | ||||||||||
- Definition
Repurchases by the holders of the CODES. No definition available.
|
X | ||||||||||
- Definition
Revolving credit facility permits to wholly owned subsidiary. No definition available.
|
X | ||||||||||
- Definition
Settlement amount upon conversion of CODES option One in cash. No definition available.
|
X | ||||||||||
- Definition
Settlement amount upon conversion of the CODES option two in a combination of cash and common stock condition one. No definition available.
|
X | ||||||||||
- Definition
Settlement amount upon conversion of the CODES option two in a combination of cash and common stock condition two. No definition available.
|
X | ||||||||||
- Definition
Ultimate redemption price percentage of principal. No definition available.
|
X | ||||||||||
- Definition
Unamortized Discount Of Liability Component Being Amortized. No definition available.
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The ratio applied to the debt for purposes of determining the number of shares of the equity security into which the debt will be converted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the frequency of periodic payments (monthly, quarterly, annual). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between the reacquisition price and the net carrying amount of the extinguished debt recognized currently as a component of income in the period of extinguishment, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Per share impact of the gain or loss on the extinguishment of debt, net of applicable taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow from the repayment of borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in case of liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity (Details) (USD $)
|
2 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Feb. 24, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Equity (Textuals) | ||||
Repurchase of additional outstanding shares | $ 1,000,000,000 | |||
Remaining value under share repurchase program | 592,000,000 | |||
Number of common shares repurchased | 1,367,992 | 11,000,000 | ||
Average price per share of repurchased shares | $ 77.70 | $ 75.86 | ||
Aggregate amount of repurchased shares | $ 106,000,000 | $ 834,000,000 | $ 505,000,000 | $ 794,000,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of common shares repurchased. No definition available.
|
X | ||||||||||
- Definition
Remaining Value Under Share Repurchase Program. No definition available.
|
X | ||||||||||
- Definition
Repurchase of additional outstanding shares. No definition available.
|
X | ||||||||||
- Definition
Total cost of shares repurchased divided by the total number of shares repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Level 1 [Member]
|
||
Liabilities | ||
Derivatives (foreign currency forward contracts) | $ 0 | $ 0 |
Level 2 [Member]
|
||
Liabilities | ||
Derivatives (foreign currency forward contracts) | 5 | 10 |
Level 3 [Member]
|
||
Liabilities | ||
Derivatives (foreign currency forward contracts) | 0 | 0 |
Level 1 [Member]
|
||
Assets | ||
Cash equivalents | 347 | 891 |
Derivatives (foreign currency forward contracts) | 0 | 0 |
Total Assets | 347 | 891 |
Level 2 [Member]
|
||
Assets | ||
Cash equivalents | 0 | 0 |
Derivatives (foreign currency forward contracts) | 22 | 16 |
Total Assets | 22 | 16 |
Level 3 [Member]
|
||
Assets | ||
Cash equivalents | 0 | 0 |
Derivatives (foreign currency forward contracts) | 0 | 0 |
Total Assets | $ 0 | $ 0 |
X | ||||||||||
- Definition
Fair Value, Assets Measured on Recurring Basis, Total assets. No definition available.
|
X | ||||||||||
- Definition
This element represents a certain statement of financial position asset caption which represents a class of assets, or which may include an individual asset, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents a certain statement of financial position asset caption which represents a class of assets, or which may include an individual asset, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents a certain statement of financial position liability caption which represents a class of liabilities, or which may include an individual liability, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Financial Instruments (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Carrying amounts and estimated fair values of the Company's financial instruments | ||
Senior Notes, Carrying Amount | $ 1,794 | $ 996 |
Senior Notes, Estimated Fair Value | 1,810 | 995 |
Senior Subordinated Notes, Carrying Amount | 1,645 | 2,440 |
Senior Subordinated Notes, Estimated Fair Value | 1,691 | 2,461 |
CODES, Carrying Amount | 698 | 676 |
CODES, Estimated Fair Value | 701 | 736 |
Carrying Amount [Member]
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Foreign currency forward contracts | 17 | 6 |
Estimated Fair Value [Member]
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Foreign currency forward contracts | $ 17 | $ 6 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, the fair value of convertible subordinated debt, as of the balance sheet date, initially scheduled to be repaid after one year or beyond the normal operating cycle if longer. This form of debt can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder, and places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets. No definition available.
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, fair value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. No definition available.
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, fair value as of the balance sheet date of subordinated debt (with initial maturities beyond one year or beyond the operating cycle if longer). Subordinated debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets. No definition available.
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, the carrying value of convertible subordinated debt, as of the balance sheet date, initially scheduled to be repaid after one year or beyond the normal operating cycle if longer. This form of debt can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder, and places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of subordinated debt (with initial maturities beyond one year or beyond the operating cycle if longer). Subordinated debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Fair value of a derivative asset (or nonderivative instrument) that is designated and qualifies as a hedging instrument, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of a derivative asset that is not designated or qualifying as a hedging instrument, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of derivative asset, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of derivative liability, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Fair value of a derivative liability (or nonderivative instrument) that is designated and qualifies as a hedging instrument, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of a derivative liability that is not designated or qualifying as a hedging instrument, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated net amount of unrealized gains (losses) on foreign currency cash flow hedges at the reporting date expected to be reclassified to earnings within the next 12 months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate notional amount of foreign currency exchange rate derivatives. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. No definition available.
|
X | ||||||||||
- Definition
Net changes to accumulated comprehensive income during the period related to defined benefit pension and other postretirement plans, after tax. No definition available.
|
X | ||||||||||
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Assumed purchase of common shares for treasury. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Gain included in diluted EPS due to reversal of current liability. No definition available.
|
X | ||||||||||
- Definition
Gain included in diluted EPS due to sale of product line. No definition available.
|
X | ||||||||||
- Definition
Net income allocable to participating securities. No definition available.
|
X | ||||||||||
- Definition
Non cash impairment charge included in diluted EPS. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gain (loss) after tax expense (benefit), not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the reporting entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items and cumulative effects of changes in accounting principles, but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of income (loss) from continuing operations per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of income (loss) from continuing operations available to each share of common stock outstanding during the reporting period and each share that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of income (loss) from disposition of discontinued operations, net of related tax effect, per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of income (loss) from discontinued operations, net of related tax effect, per each diluted share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Debt securities outstanding shall be assumed to have been converted at the beginning of the period (or at time of issuance, if later), and the resulting common shares shall be included in common shares used to calculate diluted earnings per shares. The dilutive effect of convertible debt securities shall be reflected in diluted Earnings Per Share by application of the if-converted method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate awards of share options and nonvested shares to be issued to an employee under a share-based compensation arrangement are considered options for purposes of computing diluted earnings per share. Such share-based awards shall be considered to be outstanding as of the grant date for purposes of computing diluted earnings per share even though their exercise may be contingent upon vesting. Those share-based awards are included in the diluted Earnings Per Share (EPS) computation even if the employee may not receive (or be able to sell) the stock until some future date. Accordingly, all shares to be issued shall be included in computing diluted EPS if the effect is dilutive. The dilutive effect of share-based compensation arrangements shall be computed using the treasury stock method. If the equity share options or other equity instruments are outstanding for only part of a period, the shares issuable shall be weighted to reflect the portion of the period during which the equity instruments were outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Income Taxes (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Income before income taxes | |||
Domestic | $ 1,258 | $ 1,210 | $ 1,272 |
Foreign | 226 | 176 | 151 |
Income from continuing operations before income taxes | $ 1,484 | $ 1,386 | $ 1,423 |
X | ||||||||||
- Definition
The portion of earnings (loss) from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of earnings (loss) from continuing operations before income taxes that is attributable to foreign operations, which is defined as income (loss) generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Income Taxes (Details 1) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Current income tax provision: | |||
Federal | $ 302 | $ 304 | $ 244 |
State and local | 53 | 58 | 47 |
Foreign | 52 | 39 | 50 |
Subtotal | 407 | 401 | 341 |
Deferred income tax provision (benefit): | |||
Federal | 84 | 60 | 137 |
State and local | 16 | 5 | 23 |
Foreign | 11 | 9 | (7) |
Subtotal | 111 | 74 | 153 |
Provision for income taxes | $ 518 | $ 475 | $ 494 |
X | ||||||||||
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of foreign enacted tax law to the foreign taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The component of total income tax expense for the period comprised of the net change during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The component of total income tax expense for the period comprised of the net change in the entity's net foreign deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of applicable enacted tax laws of countries other than the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The component of total income tax expense for the period comprised of the net change in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details 2)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Reconciliation of the statutory federal income tax rate to the effective income tax rate | |||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal income tax benefit | 3.00% | 3.10% | 3.10% |
Foreign income taxes | (1.00%) | (0.50%) | (1.10%) |
Manufacturing benefits | (1.40%) | (0.80%) | (0.90%) |
Research and experimentation and other tax credits | (1.00%) | (1.30%) | (1.00%) |
Resolution of tax contingencies | (0.60%) | (1.90%) | (1.20%) |
Other, net | 0.90% | 0.70% | 0.80% |
Effective income tax rate | 34.90% | 34.30% | 34.70% |
X | ||||||||||
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate attributable to all manufacturing benefits. No definition available.
|
X | ||||||||||
- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate shall be the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the difference between statutory income tax rates in foreign jurisdictions and the domestic federal statutory income tax rate recorded during the period. No definition available.
|
X | ||||||||||
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to all other items not otherwise listed in the existing taxonomy. No definition available.
|
X | ||||||||||
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the state and local income tax expense (benefit), net of the federal tax benefit (expense) thereon, recorded during the period. No definition available.
|
X | ||||||||||
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate attributable to changes in all income tax contingencies, whether recorded or adjusted, during the period. No definition available.
|
X | ||||||||||
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate that can be explained by all tax credits generated or utilized under enacted tax laws during the period. No definition available.
|
Income Taxes (Details 3) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Deferred tax assets: | ||
Inventoried costs | $ 24 | $ 12 |
Compensation and benefits | 104 | 137 |
Pension and postretirement benefits | 337 | 290 |
Loss carryforwards | 14 | 21 |
Tax credit carryforwards | 8 | 14 |
Other | 113 | 132 |
Gross deferred tax assets | 600 | 606 |
Less: valuation allowance | (3) | (3) |
Net deferred tax assets | 597 | 603 |
Deferred tax liabilities: | ||
Goodwill and other intangible assets | 606 | 538 |
Income recognition on contracts in process | 97 | 17 |
Property, plant and equipment | 66 | 58 |
Other | 22 | 15 |
Gross deferred tax liabilities | 791 | 628 |
Total net deferred tax liabilities | $ (194) | $ (25) |
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from pension and postretirement benefits, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. No definition available.
|
X | ||||||||||
- Definition
The amount as of the balance sheet date of the estimated future tax effects arising from contracts in process that is included in accounting income in conformity with generally accepted accounting principles but excluded from tax-basis income, which will increase future taxable income when such income is recognized for tax purposes. No definition available.
|
X | ||||||||||
- Definition
The sum of the tax effects as of the balance sheet date of the amounts of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value). Includes any tax benefit realized in deferred tax assets for significant impacts of tax planning strategies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to inventory related items which can only be realized if sufficient taxable income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from other temporary differences not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from all unused tax credit carryforwards which have been reduced by a valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from employee benefit costs not otherwise specified in the taxonomy, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the portions of deferred tax assets as of the balance sheet date for which, based on the weight of available evidence, it is more likely than not will not be realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of all deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A taxable temporary difference is a difference between the tax basis and the carrying amount of an asset or liability in the financial statements prepared in accordance with generally accepted accounting principles that will result in taxable amounts in one or more future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cumulative amount of the estimated future tax effects attributable to the difference between the tax basis of goodwill and intangible assets and the basis of goodwill and intangible assets computed in accordance with generally accepted accounting principles. The difference in basis, whether due to amortization or other reasons, will increase future taxable income when such difference reverses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of the estimated future tax effects attributable to other temporary differences not otherwise specified in this taxonomy that were expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, or which were recognized as revenue under GAAP but not for tax purposes, which will reverse in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of capital assets and the basis of capital assets computed in accordance with generally accepted accounting principles. The difference in basis, attributable to different capitalization of costs, depreciation, or amortization methodologies, will increase future taxable income when such basis difference is realized. Capital assets include but are not limited to assets such as land, real estate, leasehold improvements, machinery and equipment and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details 4) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Classification of deferred tax assets and liabilities | ||
Current deferred tax assets | $ 114 | $ 247 |
Non-current deferred tax liabilities | (308) | (272) |
Total net deferred tax liabilities | $ (194) | $ (25) |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For entities that net deferred tax assets and tax liabilities, represents the net amount of deferred tax assets (after reduction for valuation allowance) and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities that are classified as current in the financial statements, or that are expected to reverse in the next twelve months (or normal operating cycle, if longer). A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For entities that net deferred tax assets and tax liabilities, represents the net amount of deferred tax assets (after reduction for valuation allowance) and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities that are classified as noncurrent in the financial statements, or that are expected to reverse after the next twelve months (or beyond the normal operating cycle, if longer). A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details 5) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Reconciliation of the change in unrecognized income tax benefits, excluding interest and penalties | |||
Balance at January 1 | $ 219 | $ 171 | $ 253 |
Additions for tax positions related to the current year | 8 | 17 | 10 |
Additions for tax positions related to prior years | 73 | 64 | 14 |
Reductions for tax positions related to prior years | (63) | (87) | |
Reductions for tax positions related to settlements with taxing authorities | (2) | (19) | |
Reduction for tax positions related to prior years as a result of a lapse of statute of limitations | (31) | (27) | |
Balance at December 31 | $ 237 | $ 219 | $ 171 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns as of the beginning balance sheet date, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from lapses of the applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected foreign net operating losses to be utilized. No definition available.
|
X | ||||||||||
- Definition
Expected state net operating losses to be utilized based on generating sufficient taxable income. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the amount of interest expense accrued, after tax, as of the date of the statement of financial position for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity. No definition available.
|
X | ||||||||||
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to undistributed earnings of subsidiaries and other recognized entities in countries outside the country of domicile which will increase future taxable income when such earnings are distributed into the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of estimated interest recognized in the period arising from income tax examinations. No definition available.
|
X | ||||||||||
- Definition
The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For a tax position taken for which it is reasonably possible that the total amount of unrecognized tax benefit will significantly increase or decrease within twelve months of the balance sheet date, provide an estimate of the range of the reasonably possible change. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns as of the beginning balance sheet date, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the amount of statutory penalties accrued as of the date of the statement of financial position for a tax position claimed or expected to be claimed by the entity, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the amount of interest expense accrued as of the date of the statement of financial position for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from lapses of the applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Awards Options Exercisable Intrinsic Value. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By ShareBased Payment Awards Options Exercisable Weighted Average Remaining Contractual Term. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Awards Options Exercises In Period Weighted Average Exercise Price. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By ShareBased Payment Awards Options Forfeitures In Period Weighted Average Exercise Price. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Awards Options Grants In Period Weighted Average Exercise Price. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Awards Options Outstanding Weighted Average Remaining Contractual Term Beginning Balance. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Awards Options Outstanding Weighted Average Remaining Contractual Term Ending Balance. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Awards Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term. No definition available.
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance-sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The decrease in the number of reserved shares that could potentially be issued attributable to the exercise or conversion during the reporting period of previously issued stock options under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options outstanding under the plan as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance-sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the balance sheet date, the total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock-Based Compensation (Details 1)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
TSR [Member]
|
|||
Weighted average assumptions in valuation model | |||
Expected volatility | 24.20% | 31.60% | |
Expected dividend yield | 2.30% | 1.60% | |
Risk-free interest rate | 0.60% | 1.10% | |
Stock Options [Member]
|
|||
Weighted average assumptions in valuation model | |||
Expected holding period (in years) | 4.7 | 4.6 | 4.7 |
Expected volatility | 26.20% | 26.20% | 20.20% |
Expected dividend yield | 2.20% | 2.40% | 1.60% |
Risk-free interest rate | 2.30% | 2.50% | 3.20% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The period of time a share-based award is expected to be outstanding. A share-based award's expected term shall be determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. An entity is required to aggregate individual awards into relatively homogeneous groups. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the percentage amount by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock-Based Compensation (Details 2) (USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2010
|
|
Company's nonvested restricted stock unit awards | |
Balance at January 1, 2010, Number of Shares, Beginning Balance | 1,707,200 |
Balance at January 1, 2010, Weighted Average Grant Date Fair Value, Beginning Balance | $ 86.30 |
Granted, Number of Shares | 603,400 |
Granted, Weighted Average Grant Date Fair Value | $ 90.23 |
Vested, Number of Shares | (418,500) |
Vested, Weighted Average Grant Date Fair Value | $ 95.33 |
Forfeited, Number of Shares | (158,400) |
Forfeited, Weighted Average Grant Date Fair Value | $ 87.17 |
Balance at December 31, 2010, Number of Shares, Ending Balance | 1,733,700 |
Balance at December 31, 2010, Weighted Average Grant Date Fair Value, Ending Balance | $ 85.41 |
X | ||||||||||
- Definition
The weighted average fair value as of grant dates pertaining to the number of shares under a share-based award plan, other than a stock option plan, that were settled during the reporting period due to a failure to satisfy vesting conditions pertaining to all award plans. No definition available.
|
X | ||||||||||
- Definition
The number of shares under a share-based award plan other than a stock option plan that were settled during the reporting period due to a failure to satisfy vesting conditions pertaining to all option plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of outstanding awards on nonstock option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The decrease in the number of shares potentially issuable under a share-based award plan pertaining to awards for which the grantee has gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant dates pertaining to a share-based award plan other than a stock option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of shares issuable under a share-based award plan pertaining to increases due to expected performance made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). No definition available.
|
X | ||||||||||
- Definition
The weighted average fair value at grant for increases due to expected performance of nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangements By Share Based Payment Awards Equity Instruments Other Than Options Forfeited In Period Weighted Average Grant Date Fair Value. No definition available.
|
X | ||||||||||
- Definition
The number of shares under a share-based award plan other than a stock option plan that were settled during the reporting period due to a failure to satisfy vesting conditions pertaining to all option plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of outstanding awards on nonstock option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The decrease in the number of shares potentially issuable under a share-based award plan pertaining to awards for which the grantee has gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant dates pertaining to a share-based award plan other than a stock option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock-Based Compensation (Details Textual) (USD $)
|
12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2010
2008 Long Term Performance Plan [Member]
|
Jan. 31, 2011
2009 Employee Stock Purchase Plan [Member]
|
Jul. 31, 2010
2009 Employee Stock Purchase Plan [Member]
|
Dec. 31, 2010
2009 Employee Stock Purchase Plan [Member]
|
Dec. 31, 2010
2001 and 2009 Employee Stock Purchase Plan [Member]
|
Dec. 31, 2009
2001 and 2009 Employee Stock Purchase Plan [Member]
|
Dec. 31, 2010
Performance Units [Member]
|
Dec. 31, 2009
Performance Units [Member]
|
Dec. 31, 2008
Performance Units [Member]
|
Dec. 31, 2010
Stock Options [Member]
|
Dec. 31, 2009
Stock Options [Member]
|
Dec. 31, 2008
Stock Options [Member]
|
Dec. 31, 2010
Restricted Stock Units [Member]
|
Dec. 31, 2009
Restricted Stock Units [Member]
|
Dec. 31, 2008
Restricted Stock Units [Member]
|
Dec. 31, 2010
2008 Directors Stock Incentive Plan [Member]
|
|
Employee Stock-Based Compensation (Textuals) | |||||||||||||||||||
Maximum number of shares of L-3 Holdings common stock that may be issued pursuant to "incentive" stock option awards | 3,000,000 | ||||||||||||||||||
Maximum number of shares of L-3 Holdings common stock that may be issued pursuant to all awards granted during a calendar year to any individual | 500,000 | ||||||||||||||||||
Percentage of total outstanding shares of common stock issued in respect to performance based awards | 5.00% | ||||||||||||||||||
Maximum number of shares authorized for issuance under the amendment | 12,200,000 | 6,400,000 | 300,000 | ||||||||||||||||
Maximum number of shares of L-3 Holdings common stock may be issued pursuant to "full value" awards under the amendment | 2.6 | ||||||||||||||||||
Shares of L-3 Holdings common stock available to be awarded | 8,400,000 | 272,218 | |||||||||||||||||
Expiration period of stock options granted from date of grant | 10 years | ||||||||||||||||||
Vesting period of stock options granted | Over a three year period | ||||||||||||||||||
Compensation expense for LTIP awards | $ 12,000,000 | $ 12,000,000 | $ 3,000,000 | $ 9,000,000 | $ 4,000,000 | $ 12,000,000 | $ 16,000,000 | $ 17,000,000 | $ 52,000,000 | $ 42,000,000 | $ 32,000,000 | ||||||||
Compensation expense after income taxes for LTIP awards | 10,000,000 | 10,000,000 | 2,000,000 | 5,000,000 | 2,000,000 | 8,000,000 | 10,000,000 | 10,000,000 | 32,000,000 | 25,000,000 | 19,000,000 | ||||||||
Weighted average grant date fair value of stock options | $ 18.41 | $ 14.67 | $ 18.65 | ||||||||||||||||
Unrecognized compensation cost related to stock awards | 4,000,000 | 15,000,000 | 62,000,000 | ||||||||||||||||
Unrecognized compensation cost related to equity awards after income taxes | 3,000,000 | 9,000,000 | 38,000,000 | ||||||||||||||||
Intrinsic value of stock option exercised | 30,000,000 | 12,000,000 | 35,000,000 | ||||||||||||||||
Weighted average remaining period for recognition of unrecognized cost related to equity awards | 1.6 | 1.7 | 1.8 | ||||||||||||||||
Actual income tax benefit recognized related compensation deductions from the exercise of stock options | 10,000,000 | 5,000,000 | 13,000,000 | ||||||||||||||||
Units granted during the period | 603,400 | ||||||||||||||||||
Vesting period of units granted for employees | three years | two and a half years | two and a half years | three year | |||||||||||||||
Vesting period of units granted for non-employee directors | one year | ||||||||||||||||||
Weighted average grant date fair value | $ 90.23 | $ 105.14 | $ 87.18 | $ 103.10 | $ 90.23 | $ 74.02 | $ 98.18 | ||||||||||||
Age of retirement eligible employees | 65 | ||||||||||||||||||
Fair value of restricted stock units awards vested | 31,000,000 | 23,000,000 | 20,000,000 | ||||||||||||||||
Maximum payout range | 200.00% | ||||||||||||||||||
Minimum payout range | 0.00% | ||||||||||||||||||
Total performance units earned | 51,692 | ||||||||||||||||||
Fair market value of total performance units earned as of their vesting date | 4,000,000 | ||||||||||||||||||
Term of plans | eligible employees are offered options to purchase shares of L-3 Holdings’ common stock at the end of each six-month offering period at 85% of fair market value (or 95% of fair market value for offering periods beginning on or after January 1, 2011) based on the average of the highest and lowest sales prices for the stock on the purchase date | ||||||||||||||||||
Share purchases funded through payroll deductions up to a maximum percentage | 10.00% | ||||||||||||||||||
Share purchases funded through payroll deductions up to a maximum value | $ 21,250 | ||||||||||||||||||
Issued shares under the ESSP, shares | 600,000 | 500,000 | |||||||||||||||||
Issued shares under the ESSP, value | $ 60.01 | $ 60.90 |
X | ||||||||||
- Definition
Age of retirement eligible employees with at least five years of service. No definition available.
|
X | ||||||||||
- Definition
Represents the expense recognized during the period arising from share-based compensation arrangements (for example, shares of stock, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees, after income taxes. No definition available.
|
X | ||||||||||
- Definition
As of the latest balance-sheet date presented, the total compensation cost related to outstanding, nonvested share-based compensation awards not yet recognized (will be charged against earnings as services are performed or other vesting criteria are met), after income taxes. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Each share of common stock issued under a full value award (awards other than stock options or stock appreciation rights) will be counted as 2.6 shares for purposes of monitoring the share limit. No definition available.
|
X | ||||||||||
- Definition
Maximum number of shares of parent common stock that may be issued pursuant to all awards granted during a calendar year to an individual. No definition available.
|
X | ||||||||||
- Definition
Maximum number of shares of parent common stock that may be issued pursuant to incentive stock option awards. No definition available.
|
X | ||||||||||
- Definition
Maximum payout range for performance units based on pre-determined performance goals established by the compensation committee. No definition available.
|
X | ||||||||||
- Definition
Maximum percentage of total outstanding shares of common stock that may be issued to any participant over the life of the 2008 Long Term Performance Plan in respect to performance based awards. No definition available.
|
X | ||||||||||
- Definition
Minimum payout range for performance units based on pre-determined performance goals established by the compensation committee. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Average Price Per Share. No definition available.
|
X | ||||||||||
- Definition
Description of the estimated period of time over which a non-employee director is required to wait in exchange for the share-based payment award to vest. No definition available.
|
X | ||||||||||
- Definition
The fair market value as of the vesting date pertaining to the total number of performance units earned under a share-based award plan, other than a stock option plan, that were achieved during the performance period. No definition available.
|
X | ||||||||||
- Definition
Share purchases funded through payroll deductions up to a maximum percentage. No definition available.
|
X | ||||||||||
- Definition
Share purchases funded through payroll deductions up to a maximum value. No definition available.
|
X | ||||||||||
- Definition
Total performance units earned. No definition available.
|
X | ||||||||||
- Definition
Represents the expense recognized during the period arising from share-based compensation arrangements (for example, shares of stock, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Disclosure of the aggregate tax benefit realized from the exercise of stock options and the conversion of similar instruments during the annual period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the latest balance-sheet date presented, the total compensation cost related to outstanding, nonvested share-based compensation awards not yet recognized (will be charged against earnings as services are performed or other vesting criteria are met). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average period over which unrecognized share-based compensation costs are expected to be reported. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Reflects the dating as to when the share-based award expires as specified in the award agreement, which may be presented in a variety of ways (for example, year, month and year, day, month and year, quarter of a year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the estimated period of time over which an employee is required to provide service in exchange for the share-based payment award, which often is the vesting period. This period may be explicit or implicit based on the terms of the award, and may be presented in a variety of ways (for example, year, month and year, day, month and year, quarter of a year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the period of time over which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, which may be expressed in a variety of ways (for example, in years, month and year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total fair value of share-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of shares originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the share-based compensation plan. As stock options and equity instruments other than options are awarded to participants, the shares remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between the maximum number of shares authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares already issued upon exercise of options or other share-based awards under the plan, and 2) shares reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. No definition available.
|
X | ||||||||||
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares newly issued during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of pertinent provisions of share based compensation awards that have actual or potential impact upon the company's financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Additional rent to be paid for simulator systems after expiration date. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Compensatory damages awarded by trial court. No definition available.
|
X | ||||||||||
- Definition
Fair market value of simulator systems, Minimum. No definition available.
|
X | ||||||||||
- Definition
Fair market value of simulator systems, Minimum. No definition available.
|
X | ||||||||||
- Definition
Maximum amount of supplemental rent payment. No definition available.
|
X | ||||||||||
- Definition
Describes the form and magnitude of the maximum award the plaintiff seeks in the legal matter. No definition available.
|
X | ||||||||||
- Definition
Describes the form and magnitude of the minimum award the plaintiff seeks in the legal matter. No definition available.
|
X | ||||||||||
- Definition
Operating leases future minimum payments due net of sublease rentals. No definition available.
|
X | ||||||||||
- Definition
Percentage of bank debt guaranteed to finance the activities. No definition available.
|
X | ||||||||||
- Definition
The pre-judgment interest maximum sought. No definition available.
|
X | ||||||||||
- Definition
The pre-judgment interest minimum sought. No definition available.
|
X | ||||||||||
- Definition
Punitive Damages Sought. No definition available.
|
X | ||||||||||
- Definition
Purchase price of property on or before expiration date. No definition available.
|
X | ||||||||||
- Definition
Residual guarantee amount. No definition available.
|
X | ||||||||||
- Definition
Term for operating lease agreements. No definition available.
|
X | ||||||||||
- Definition
Total Damages Sought. No definition available.
|
X | ||||||||||
- Definition
Total outstanding letters of credit. No definition available.
|
X | ||||||||||
- Definition
Percentage of voting equity interests acquired in the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. No definition available.
|
X | ||||||||||
- Definition
The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within one year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractually required future rental payments receivable on noncancelable subleasing arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fifth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fourth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the third year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the second year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due after the fifth year from the balance sheet date on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of rentals incurred in the period on property subject to subleasing arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Curtailments, settlements and special termination benefits. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The pretax total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The pretax net amount of gains and losses that are not yet recognized as a component of net periodic benefit cost, and that are recognized as increases or decreases in other comprehensive income as they arise. Gains and losses are due to changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount related to the pretax cost of benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation, which has not yet been recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net increase or decrease of changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate net amount recognized in the balance sheet associated with the defined benefit plan(s). Will normally be the same as the Defined Benefit Plan, Funded Status of Plan, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount for overfunded plans recognized in the balance sheet as a noncurrent asset associated with a defined benefit pension plan or other postretirement defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. The projected benefit obligation is measured using assumptions as to future compensation levels if the pension benefit formula is based on those future compensation levels (pay-related, final-pay, final-average-pay, or career-average-pay plans). For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Prior to an employee's full eligibility date, the accumulated postretirement benefit obligation as of a particular date for an employee is the portion of the expected postretirement benefit obligation attributed to that employee's service rendered to that date; on and after the full eligibility date, the accumulated and expected postretirement benefit obligations for an employee are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of contributions made by plan participants. Under a contributory plan active employees or retirees contribute part of the cost. In some contributory plans, those wishing to be covered must contribute; in others, the contributions result in increased benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those nonbenefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase or decrease in the benefit obligation attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase or decrease in plan assets attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate projected benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For a classified balance sheet, the amount recognized in balance sheet as a current liability associated with an underfunded defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total Recognized In Net Periodic Benefit Cost And Other Comprehensive Income Before Tax. No definition available.
|
X | ||||||||||
- Definition
The amount of gains or losses recognized in net periodic benefit cost Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain or loss, prior service cost or credit, transition asset or obligation, and gain or loss due to settlements or curtailments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The aggregate amount of net gain or loss recognized in net periodic benefit cost due to settlements and curtailments. Curtailments result from an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Settlements result from an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net prior service cost or credit recognized in other comprehensive income that is a reclassification adjustment of other comprehensive income as a result of being recognized as a component of net periodic benefit cost for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pretax cost (credit) of benefit changes attributable to plan participants' prior service resulting from a plan amendment or plan initiation that occurred during the period. The cost has not yet been recognized in net periodic benefit cost. A plan amendment includes provisions that grant increased (decreased) benefits based on services rendered in prior periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amounts recognized in other comprehensive income (but not yet recognized in net periodic benefit cost), including the net gain (loss) and net prior service cost (credit) arising during the period. Also includes reclassification adjustments out of other comprehensive income as a result of being recognized as components of net periodic benefit cost for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Pretax change in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan, that has not been recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net gain or loss previously recognized in other comprehensive income that is a reclassification adjustment of other comprehensive income as a result of being recognized as a component of net periodic benefit cost for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amounts in accumulated other comprehensive income related to gains and losses that are not recognized immediately and are expected to be recognized as components of net periodic benefit cost over the next fiscal year that follows the most recent annual statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amounts in accumulated other comprehensive income related to prior service cost or credit expected to be recognized as components of net periodic benefit cost over the next fiscal year that follows the most recent annual statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount in accumulated other comprehensive income expected to be recognized as a component of net periodic benefit cost over the fiscal year that follows the most recent annual statement of financial position presented (including the net gain or loss, net prior service cost or credit, and net transition asset or obligation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The effect of a one-percentage-point decrease in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits. (For purposes of this disclosure, all other assumptions shall be held constant, and the effects shall be measured based on the substantive plan that is the basis for the accounting.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effect of a one-percentage- point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs. (For purposes of this disclosure, all other assumptions shall be held constant, and the effects shall be measured based on the substantive plan that is the basis for the accounting.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effect of a one-percentage-point increase in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits. (For purposes of this disclosure, all other assumptions shall be held constant, and the effects shall be measured based on the substantive plan that is the basis for the accounting.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effect of a one-percentage-point increase in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs. (For purposes of this disclosure, all other assumptions shall be held constant, and the effects shall be measured based on the substantive plan that is the basis for the accounting.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Pensions and Other Employee Benefits (Details 3) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
---|---|---|---|
Pension Plans [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | $ 1,585 | $ 1,304 | $ 1,064 |
U.S. based Pension Plans [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1,333 | 1,082 | |
U.S. based Pension Plans [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 308 | 234 | |
U.S. based Pension Plans [Member] | Fixed Income - High Yield [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 83 | 70 | |
U.S. based Pension Plans [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 213 | 188 | |
U.S. based Pension Plans [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 609 | 470 | |
U.S. based Pension Plans [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 50 | 65 | |
U.S. based Pension Plans [Member] | Real Estate Investment Trusts [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 70 | 55 | |
U.S. based Pension Plans [Member] | Level 1 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 934 | 735 | |
U.S. based Pension Plans [Member] | Level 1 [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 155 | 125 | |
U.S. based Pension Plans [Member] | Level 1 [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 100 | 85 | |
U.S. based Pension Plans [Member] | Level 1 [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 609 | 470 | |
U.S. based Pension Plans [Member] | Level 1 [Member] | Real Estate Investment Trusts [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 70 | 55 | |
U.S. based Pension Plans [Member] | Level 2 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 399 | 347 | |
U.S. based Pension Plans [Member] | Level 2 [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 153 | 109 | |
U.S. based Pension Plans [Member] | Level 2 [Member] | Fixed Income - High Yield [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 83 | 70 | |
U.S. based Pension Plans [Member] | Level 2 [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 113 | 103 | |
U.S. based Pension Plans [Member] | Level 2 [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 50 | 65 | |
U.S. based Pension Plans [Member] | Level 3 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 0 | 0 | |
Canadian based Pension Plans [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 252 | 222 | |
Canadian based Pension Plans [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 92 | 109 | |
Canadian based Pension Plans [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 106 | 79 | |
Canadian based Pension Plans [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 43 | 19 | |
Canadian based Pension Plans [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 11 | 15 | |
Canadian based Pension Plans [Member] | Level 1 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 71 | 43 | |
Canadian based Pension Plans [Member] | Level 1 [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 35 | 41 | |
Canadian based Pension Plans [Member] | Level 1 [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 32 | ||
Canadian based Pension Plans [Member] | Level 1 [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 4 | 2 | |
Canadian based Pension Plans [Member] | Level 2 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 181 | 179 | |
Canadian based Pension Plans [Member] | Level 2 [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 92 | 109 | |
Canadian based Pension Plans [Member] | Level 2 [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 71 | 38 | |
Canadian based Pension Plans [Member] | Level 2 [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 11 | 19 | |
Canadian based Pension Plans [Member] | Level 2 [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 7 | 13 | |
Canadian based Pension Plans [Member] | Level 3 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 0 | 0 | |
Postretirement Benefit Plans [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 39 | 33 | 27 |
U.S. [Member]
|
|||
Allowable range for each major category of the plans' assets and weighted-average asset allocations by asset category | |||
Domestic equity | 46.00% | 44.00% | |
Domestic equity, minimum range | 30.00% | ||
Domestic equity, maximum range | 60.00% | ||
International equity | 16.00% | 17.00% | |
International equity, minimum range | 10.00% | ||
International equity, maximum range | 20.00% | ||
Fixed income securities | 29.00% | 28.00% | |
Fixed income securities, minimum range | 20.00% | ||
Fixed income securities, maximum range | 40.00% | ||
Real estate securities | 5.00% | 5.00% | |
Real estate securities, minimum range | 0.00% | ||
Real estate securities, maximum range | 15.00% | ||
Other, primarily cash and cash equivalents | 4.00% | 6.00% | |
Other, primarily cash and cash equivalents, minimum range | 0.00% | ||
Other, primarily cash and cash equivalents, maximum range | 15.00% | ||
Total | 100.00% | 100.00% | |
Canada [Member]
|
|||
Allowable range for each major category of the plans' assets and weighted-average asset allocations by asset category | |||
Domestic equity | 21.00% | 20.00% | |
Domestic equity, minimum range | 15.00% | ||
Domestic equity, maximum range | 30.00% | ||
International equity | 38.00% | 25.00% | |
International equity, minimum range | 20.00% | ||
International equity, maximum range | 50.00% | ||
Fixed income securities | 36.00% | 49.00% | |
Fixed income securities, minimum range | 30.00% | ||
Fixed income securities, maximum range | 55.00% | ||
Other, primarily cash and cash equivalents | 5.00% | 6.00% | |
Other, primarily cash and cash equivalents, minimum range | 0.00% | ||
Other, primarily cash and cash equivalents, maximum range | 15.00% | ||
Total | 100.00% | 100.00% | |
Postretirement Benefit Plans' Assets [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 39 | 33 | |
Postretirement Benefit Plans' Assets [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 12 | 15 | |
Postretirement Benefit Plans' Assets [Member] | Fixed Income - High Yield [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 2 | 2 | |
Postretirement Benefit Plans' Assets [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 22 | 13 | |
Postretirement Benefit Plans' Assets [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Real Estate Investment Trusts [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 1 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 34 | 29 | |
Postretirement Benefit Plans' Assets [Member] | Level 1 [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 10 | 14 | |
Postretirement Benefit Plans' Assets [Member] | Level 1 [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 1 [Member] | U.S. Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 22 | 13 | |
Postretirement Benefit Plans' Assets [Member] | Level 1 [Member] | Real Estate Investment Trusts [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 2 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 5 | 4 | |
Postretirement Benefit Plans' Assets [Member] | Level 2 [Member] | Fixed Income - Investment Grade [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 2 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 2 [Member] | Fixed Income - High Yield [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 2 [Member] | International Equity [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 2 [Member] | Other Asset [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | 1 | 1 | |
Postretirement Benefit Plans' Assets [Member] | Level 3 [Member]
|
|||
Equity securities: | |||
Fair value of company's plans' assets | $ 0 | $ 0 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The percentage of the fair value of domestic equity to the fair value of total plan assets held as of the measurement date. No definition available.
|
X | ||||||||||
- Definition
The percentage of the fair value of fixed income securities to the fair value of total plan assets held as of the measurement date. No definition available.
|
X | ||||||||||
- Definition
The percentage of the fair value of international equity to the fair value of total plan assets held as of the measurement date. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Domestic Equity Securities Range Maximum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Domestic Equity Securities Range Minimum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Fixed Income Securities Range Maximum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Fixed Income Securities Range Minimum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets International Equity Securities Range Maximum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets International Equity Securities Range Minimum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Other Range Maximum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Other Range Minimum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Real Estate Range Maximum. No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plans Target Allocation Percentage Of Assets Real Estate Range Minimum. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those nonbenefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage of the fair value of investments other than debt securities, equity securities, and real estate to the fair value of total plan assets held as of the measurement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage of the fair value of real estate to the fair value of total plan assets held as of the measurement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate percentage of the fair value of investments (categorized by debt securities, equity securities, real estate and other plan assets) to the fair value of total plan assets held as of the measurement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Pensions and Other Employee Benefits (Details 4) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
---|---|
Pension Plans [Member]
|
|
Estimated Future Benefit Payments | |
2011 | $ 91 |
2012 | 95 |
2013 | 105 |
2014 | 113 |
2015 | 122 |
Years 2016-2020 | 776 |
Postretirement Benefit Plans [Member]
|
|
Estimated Future Benefit Payments | |
2011 | 13 |
2012 | 14 |
2013 | 14 |
2014 | 15 |
2015 | 16 |
Years 2016-2020 | 90 |
Subsidy Receipts, 2011 | 1 |
Subsidy Receipts, 2012 | 1 |
Subsidy Receipts, 2013 | 1 |
Subsidy Receipts, 2014 | 1 |
Subsidy Receipts, 2015 | 1 |
Subsidy Receipts, Years 2016-2020 | $ 6 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of the aggregate benefits expected to be paid in the five fiscal years thereafter (the aggregate amount of benefits expected to be paid in years 6 through 10 after the date of the latest statement of financial position). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 5. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 4. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 1. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 3. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 2. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount for the next five fiscal years following the first five fiscal years (that is the aggregate of fiscal years six through ten) following the balance sheet date of the prescription drug subsidy receipts expected to be received. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the prescription drug subsidy receipts expected to be received in Year 5 after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the prescription drug subsidy receipts expected to be received in Year 4 after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the prescription drug subsidy receipts expected to be received in Year 1 after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the prescription drug subsidy receipts expected to be received in Year 3 after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the prescription drug subsidy receipts expected to be received in Year 2 after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Company Matching Contributions In Parent Common Stock And Cash. No definition available.
|
X | ||||||||||
- Definition
Number of consecutive years agreement will continue. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Percentage Of Mutual Fund In Total Investment In Fixed Income Investment Grade. No definition available.
|
X | ||||||||||
- Definition
Percentage Of Pooled Bond Funds In Total Investment In Fixed Income Investment Grade. No definition available.
|
X | ||||||||||
- Definition
For defined benefit pension plans, the actuarial present value of benefits (whether vested or nonvested) attributed by the pension benefit formula to employee service rendered before a specified date and based on employee service and compensation (if applicable) before that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The employer's best estimate, as soon as it can be reasonably determined, of contributions expected to be paid to the plan during the next fiscal year beginning after the date of the latest statement of financial position. Estimated contributions may be presented in the aggregate combining (1) contributions required by funding regulations or laws, (2) discretionary contributions, and (3) noncash contributions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The assumed health care cost trend rate for the next year used to measure the expected cost of benefits covered by the plan (gross eligible charges). This is based upon the annual rate of change in the cost of health care benefits currently provided by the postretirement benefit plan, due to factors other than changes in the composition of the plan population by age and dependency status. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The ultimate trend rate for health care costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of contributions made to multiemployer plans for each period for which a statement of income is presented. An employer may disclose total contributions to multiemployer plans without disaggregating the amounts attributable to pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Cash Flow Information (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Supplemental Cash Flow Information | |||
Interest paid on outstanding debt | $ 233 | $ 237 | $ 267 |
Income tax payments | 341 | 387 | 343 |
Income tax refunds | $ 12 | $ 13 | $ 8 |
X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid during the current period for interest owed on money borrowed; includes amount of interest capitalized Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash received during the period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Segment Information (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Sep. 24, 2010
|
Jun. 25, 2010
|
Mar. 26, 2010
|
Dec. 31, 2009
|
Sep. 25, 2009
|
Jun. 26, 2009
|
Mar. 27, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Net Sales: | |||||||||||
Products | $ 7,596 | $ 7,516 | $ 7,130 | ||||||||
Services | 8,084 | 8,099 | 7,771 | ||||||||
Net Sales | 15,680 | 15,615 | 14,901 | ||||||||
Operating Income: | |||||||||||
Operating income | (461) | (437) | (442) | (410) | (446) | (418) | (417) | (376) | 1,750 | 1,656 | 1,685 |
Litigation gain | 126 | ||||||||||
Depreciation and amortization: | |||||||||||
Depreciation and amortization | 231 | 218 | 206 | ||||||||
Capital Expenditures | |||||||||||
Capital Expenditures | 181 | 186 | 218 | ||||||||
Total Assets: | |||||||||||
Total Assets | 15,451 | 14,875 | 15,451 | 14,875 | 14,484 | ||||||
C3ISR [Member]
|
|||||||||||
Net Sales: | |||||||||||
Products | (1,978) | (2,082) | (1,794) | ||||||||
Services | (1,469) | (1,090) | (778) | ||||||||
Operating Income: | |||||||||||
Operating income | (395) | (344) | (244) | ||||||||
Depreciation and amortization: | |||||||||||
Depreciation and amortization | 45 | 43 | 40 | ||||||||
Capital Expenditures | |||||||||||
Capital Expenditures | 64 | 60 | 86 | ||||||||
Total Assets: | |||||||||||
Total Assets | 2,068 | 1,875 | 2,068 | 1,875 | 1,755 | ||||||
Government Services [Member]
|
|||||||||||
Net Sales: | |||||||||||
Products | (253) | (245) | (237) | ||||||||
Services | (3,717) | (3,938) | (4,118) | ||||||||
Operating Income: | |||||||||||
Operating income | (344) | (394) | (423) | ||||||||
Depreciation and amortization: | |||||||||||
Depreciation and amortization | 37 | 39 | 35 | ||||||||
Capital Expenditures | |||||||||||
Capital Expenditures | 7 | 12 | 14 | ||||||||
Total Assets: | |||||||||||
Total Assets | 3,323 | 3,293 | 3,323 | 3,293 | 3,454 | ||||||
AM&M [Member]
|
|||||||||||
Net Sales: | |||||||||||
Products | (811) | (688) | (647) | ||||||||
Services | (2,215) | (2,255) | (2,031) | ||||||||
Operating Income: | |||||||||||
Operating income | (229) | (243) | (243) | ||||||||
Depreciation and amortization: | |||||||||||
Depreciation and amortization | 20 | 19 | 24 | ||||||||
Capital Expenditures | |||||||||||
Capital Expenditures | 6 | 15 | 12 | ||||||||
Total Assets: | |||||||||||
Total Assets | 1,961 | 1,914 | 1,961 | 1,914 | 1,836 | ||||||
Electronic Systems [Member]
|
|||||||||||
Net Sales: | |||||||||||
Products | (4,711) | (4,796) | (4,652) | ||||||||
Services | (956) | (1,039) | (976) | ||||||||
Operating Income: | |||||||||||
Operating income | (782) | (675) | (649) | ||||||||
Depreciation and amortization: | |||||||||||
Depreciation and amortization | 129 | 117 | 107 | ||||||||
Capital Expenditures | |||||||||||
Capital Expenditures | 104 | 95 | 100 | ||||||||
Total Assets: | |||||||||||
Total Assets | 7,548 | 6,591 | 7,548 | 6,591 | 6,359 | ||||||
Elimination of intercompany sales [Member]
|
|||||||||||
Net Sales: | |||||||||||
Products | 157 | 295 | 200 | ||||||||
Services | 273 | 223 | 132 | ||||||||
Corporate [Member]
|
|||||||||||
Capital Expenditures | |||||||||||
Capital Expenditures | 0 | 4 | 6 | ||||||||
Total Assets: | |||||||||||
Total Assets | 551 | 1,202 | 551 | 1,202 | 1,080 | ||||||
Segment Total [Member]
|
|||||||||||
Operating Income: | |||||||||||
Operating income | $ 1,559 |
X | ||||||||||
- Definition
Segment Reporting Information Capital Expenditures. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net proceeds or assets obtained in excess of (less than) the net carrying amount of assets recorded, or assets distributed and liabilities assumed less than (in excess of) litigation reserves extinguished, in settlement of a litigation matter. Represents (for other than an insurance entity in its normal claims settlement process), the amount of income (expense) recognized in the period to settle pending or threatened litigation and insurance claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of total assets attributed to the reportable segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of depreciation, depletion, and amortization expense for the reportable segment. Must be disclosed if the amount (a) is included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) is otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Segment Information (Details 1) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Net sales to principal customers | |||
Net Sales | $ 15,680 | $ 15,615 | $ 14,901 |
U. S. Government agencies [Member]
|
|||
Net sales to principal customers | |||
Net Sales | (13,077) | (13,059) | (12,126) |
Commercial [Member]
|
|||
Net sales to principal customers | |||
Net Sales | (1,461) | (1,474) | (1,676) |
Allied foreign governments [Member]
|
|||
Net sales to principal customers | |||
Net Sales | $ (1,142) | $ (1,082) | $ (1,099) |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Segment Information (Details Textual) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Jun. 27, 2008
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Segment Information (Textuals) | ||||
Number of reportable segments | 4 | |||
Sales reclassified from Government Services reportable segment to Electronic Systems reportable segment as a result of a business unit re-alignment | $ 61 | $ 48 | ||
Operating income reclassified from Government Services reportable segment to Electronic Systems reportable segment as a result of a business unit re-alignment | 3 | 3 | ||
Assets reclassified from the Government Services reportable segment to the Electronic Systems reportable segment as a result of a business unit re-alignment | 39 | 40 | ||
Gain on sale of PMD product line, before income taxes | 12 | |||
Non-cash impairment charges | $ 28 | $ 28 |
X | ||||||||||
- Definition
Assets reclassified from the Government Services reportable segment to the Electronic Systems reportable segment as a result of a business unit re-alignment. No definition available.
|
X | ||||||||||
- Definition
Gain on sale of a PMD product line, before income taxes. No definition available.
|
X | ||||||||||
- Definition
Number of reportable segments. No definition available.
|
X | ||||||||||
- Definition
Operating income reclassified from Government Services reportable segment to Electronic Systems reportable segment as a result of a business unit re-alignment. No definition available.
|
X | ||||||||||
- Definition
Sales reclassified from Government Services reportable segment to Electronic Systems reportable segment as a result of a business unit re-alignment. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Severance and Termination Costs (Details Textual) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2010
|
|
Employee Severance and Termination Costs (Textuals) | |
Employee severance and other related termination costs | $ 17 |
Number of employees terminated | 700 |
Remaining balance of employee severance and other related termination costs to be paid | $ 12 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of employee terminated. No definition available.
|
X | ||||||||||
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination and to asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Unaudited Quarterly Financial Data (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Sep. 24, 2010
|
Jun. 25, 2010
|
Mar. 26, 2010
|
Dec. 31, 2009
|
Sep. 25, 2009
|
Jun. 26, 2009
|
Mar. 27, 2009
|
Dec. 31, 2010
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2008
|
|
Company's unaudited quarterly results of operations | ||||||||||||||
Sales | $ 4,255 | $ 3,835 | $ 3,966 | $ 3,624 | $ 4,208 | $ 3,842 | $ 3,929 | $ 3,636 | ||||||
Operating income | 461 | 437 | 442 | 410 | 446 | 418 | 417 | 376 | (1,750) | (1,656) | (1,685) | |||
Net income attributable to L-3 | $ 268 | $ 238 | $ 228 | $ 221 | $ 227 | $ 250 | $ 225 | $ 199 | $ (955) | $ (901) | $ (938) | |||
Basic EPS | $ 2.38 | $ 2.08 | $ 1.97 | $ 1.89 | $ 1.94 | $ 2.13 | $ 1.91 | $ 1.66 | $ 8.31 | $ 8.31 | $ 7.65 | $ 7.65 | $ 7.67 | $ 7.67 |
Diluted EPS | $ 2.37 | $ 2.07 | $ 1.95 | $ 1.87 | $ 1.93 | $ 2.12 | $ 1.90 | $ 1.66 | $ 8.25 | $ 8.25 | $ 7.61 | $ 7.61 | $ 7.59 | $ 7.59 |
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Financial Information of L-3 Communications and Its Subsidiaries (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Sep. 24, 2010
|
Jun. 25, 2010
|
Mar. 26, 2010
|
Dec. 31, 2009
|
Sep. 25, 2009
|
Jun. 26, 2009
|
Mar. 27, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2010
L-3 Holdings' Common Stock
|
Dec. 31, 2009
L-3 Holdings' Common Stock
|
Dec. 31, 2008
L-3 Holdings' Common Stock
|
Dec. 31, 2007
L-3 Holdings' Common Stock
|
Dec. 31, 2010
Retained Earnings
|
Dec. 31, 2009
Retained Earnings
|
Dec. 31, 2008
Retained Earnings
|
Dec. 31, 2010
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2009
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2008
L-3 Holdings (Parent) [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
|
Dec. 31, 2009
L-3 Communications [Member]
|
Dec. 31, 2008
L-3 Communications [Member]
|
Dec. 31, 2010
L-3 Communications [Member]
L-3 Holdings' Common Stock
|
Dec. 31, 2009
L-3 Communications [Member]
L-3 Holdings' Common Stock
|
Dec. 31, 2008
L-3 Communications [Member]
L-3 Holdings' Common Stock
|
Dec. 31, 2007
L-3 Communications [Member]
L-3 Holdings' Common Stock
|
Dec. 31, 2010
L-3 Communications [Member]
Additional Paid-in Capital
|
Dec. 31, 2009
L-3 Communications [Member]
Additional Paid-in Capital
|
Dec. 31, 2008
L-3 Communications [Member]
Additional Paid-in Capital
|
Dec. 31, 2010
L-3 Communications [Member]
Treasury Stock
|
Dec. 31, 2009
L-3 Communications [Member]
Treasury Stock
|
Dec. 31, 2008
L-3 Communications [Member]
Treasury Stock
|
Dec. 31, 2007
L-3 Communications [Member]
Treasury Stock
|
Dec. 31, 2010
L-3 Communications [Member]
Retained Earnings
|
Dec. 31, 2009
L-3 Communications [Member]
Retained Earnings
|
Dec. 31, 2008
L-3 Communications [Member]
Retained Earnings
|
Dec. 31, 2010
Guarantor Subsidiaries [Member]
|
Dec. 31, 2009
Guarantor Subsidiaries [Member]
|
Dec. 31, 2008
Guarantor Subsidiaries [Member]
|
Dec. 31, 2010
Non-Guarantor Subsidiaries [Member]
|
Dec. 31, 2009
Non-Guarantor Subsidiaries [Member]
|
Dec. 31, 2008
Non-Guarantor Subsidiaries [Member]
|
Dec. 31, 2010
Eliminations [Member]
|
Dec. 31, 2009
Eliminations [Member]
|
Dec. 31, 2008
Eliminations [Member]
|
|
Condensed Combining Statements of Equity: | |||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares | 108.6 | 115.4 | 118.6 | 124.2 | 100.0 | 100.0 | 100.0 | 100.0 | |||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ 6,733 | $ 6,190 | $ 5,874 | $ 0 | $ 0 | $ 0 | $ 0 | $ 4,449 | $ 4,136 | $ 3,817 | $ 0 | $ 0 | $ 0 | $ 0 | $ 2,284 | $ 2,054 | $ 2,057 | ||||||||||||||||||||||||||||||
Net income attributable to L-3 | (268) | (238) | (228) | (221) | (227) | (250) | (225) | (199) | 955 | 901 | 938 | 955 | 901 | 938 | 955 | 901 | 938 | 955 | 901 | 938 | 955 | 901 | 938 | 538 | 602 | 524 | 189 | 155 | 128 | (1,682) | (1,658) | (1,590) | |||||||||||||||
Contributions from L-3 Holdings | 352 | 313 | 319 | 352 | 313 | 319 | |||||||||||||||||||||||||||||||||||||||||
Dividends to L-3 Holdings | (1,018) | (670) | (941) | (1,018) | (670) | (941) | |||||||||||||||||||||||||||||||||||||||||
Other | (2) | (1) | (2) | (1) | |||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ 7,020 | $ 6,733 | $ 6,190 | $ 0 | $ 0 | $ 0 | $ 0 | $ 4,801 | $ 4,449 | $ 4,136 | $ 0 | $ 0 | $ 0 | $ 0 | $ 2,219 | $ 2,284 | $ 2,054 | ||||||||||||||||||||||||||||||
Ending Balance, Shares | 108.6 | 115.4 | 118.6 | 124.2 | 100.0 | 100.0 | 100.0 | 100.0 |
X | ||||||||||
- Definition
Contributions from Parent. No definition available.
|
X | ||||||||||
- Definition
Dividends To Parent. No definition available.
|
X | ||||||||||
- Definition
Other. No definition available.
|
X | ||||||||||
- Definition
Stockholders Equity Before Accumulated Other Comprehensive Loss. No definition available.
|
X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Net unbilled contract receivables and net inventoried contract costs. No definition available.
|
X | ||||||||||
- Definition
Current Portion of Long term Debt. No definition available.
|
X | ||||||||||
- Definition
Long term debts noncurrent. No definition available.
|
X | ||||||||||
- Definition
Other Asset. No definition available.
|
X | ||||||||||
- Definition
Other current assets. No definition available.
|
X | ||||||||||
- Definition
Other current liabilities. No definition available.
|
X | ||||||||||
- Definition
Other long-term liabilities. No definition available.
|
X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Portion of the carrying amount as of the balance sheet date of obligations due all related parties that is payable after one year or beyond the normal operating cycle if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable form a party that is affiliated with the reporting entity by means of direct or indirect ownership. No definition available.
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
|
X | ||||||||||
- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate costs related to the retirement of debt, including call premium and the write-off of deferred debt issuance costs. No definition available.
|
X | ||||||||||
- Definition
Equity in net income of consolidated subsidiaries. No definition available.
|
X | ||||||||||
- Definition
Income from continuing operations before income taxes. No definition available.
|
X | ||||||||||
- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gain (loss) after tax expense (benefit), not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net proceeds or assets obtained in excess of (less than) the net carrying amount of assets recorded, or assets distributed and liabilities assumed less than (in excess of) litigation reserves extinguished, in settlement of a litigation matter. Represents (for other than an insurance entity in its normal claims settlement process), the amount of income (expense) recognized in the period to settle pending or threatened litigation and insurance claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of gains (losses) resulting from nonoperating activities (for example, interest and dividend revenue, property, plant and equipment impairment loss, and so forth.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Other financing activities. No definition available.
|
X | ||||||||||
- Definition
Other investing activities. No definition available.
|
X | ||||||||||
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents disclosure of the total aggregate cash dividends paid to the entity by consolidated subsidiaries, by unconsolidated subsidiaries, and by 50% or less owned persons accounted for using the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow from the distribution of an entity's earnings in the form of dividends to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from parent as a source of financing that is recorded as additional paid in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow from the repayment of borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in case of liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|