harris corporation

ITEM 6. SELECTED FINANCIAL DATA.
The following table summarizes our selected historical financial information for each of the last five fiscal
years. All amounts presented have been restated on a continuing operations basis. Discontinued operations are more
fully discussed in Note 3: Discontinued Operations in the Notes. The selected financial information shown below
has been derived from our audited Consolidated Financial Statements, which for data presented for fiscal years 2011
and 2010 are included elsewhere in this Report. This table should be read in conjunction with our other financial
information, including “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and the Consolidated Financial Statements and accompanying Notes, included elsewhere in this Report.
2011 (1) 2010 (2)
Fiscal Years Ended
2009 (3) 2008 (4) 2007 (5)
(In millions, except per share amounts)
Results of Operations:
Revenue from product sales and services ............ $5,924.6 $5,206.1 $5,005.0 $4,596.1 $3,737.9
Cost of product sales and services ................. 3,810.5 3,334.4 3,420.2 3,145.6 2,519.8
Interest expense ............................... 90.4 72.1 52.8 53.1 38.9
Income from continuing operations before income
taxes ..................................... 880.7 840.3 485.3 667.5 518.1
Income taxes ................................. 293.6 278.7 172.9 214.0 170.9
Income from continuing operations. ................ 587.1 561.6 312.4 453.5 347.2
Discontinued operations, net of income taxes ......... — — (437.0) (16.5) 122.7
Net income (loss) ............................. 587.1 561.6 (124.6) 437.0 469.9
Noncontrolling interests, net of income taxes ......... 0.9 — 162.5 7.2 10.5
Net income attributable to Harris Corporation ......... 588.0 561.6 37.9 444.2 480.4
Average shares outstanding (diluted). ............... 126.3 130.0 133.0 136.2 141.1
Per Share Data (Diluted) Attributable to Harris
Corporation Common Shareholders:
Income from continuing operations. ................ $ 4.60 $ 4.28 $ 2.33 $ 3.31 $ 2.49
Income (loss) from discontinued operations, net of
income taxes ............................... — — (2.05) (0.07) 0.94
Net income .................................. 4.60 4.28 0.28 3.24 3.43
Cash dividends ............................... 1.00 0.88 0.80 0.60 0.44
Financial Position at Fiscal Year-End:
Net working capital ............................ $ 786.3 $ 952.8 $ 749.7 $ 814.5 $ 23.5
Net property, plant and equipment ................. 872.8 609.7 543.2 407.2 379.2
Long-term debt ............................... 1,887.2 1,176.6 1,177.3 828.0 400.1
Total assets .................................. 6,172.8 4,743.6 4,465.1 4,627.5 4,406.0
Equity ...................................... 2,512.0 2,190.1 1,869.1 2,604.3 2,230.7
Book value per share ........................... 20.40 17.18 14.23 19.49 17.22
(1) Results for fiscal 2011 included a $36.8 million after-tax ($.29 per diluted share) charge for integration and other costs in our Integrated
Network Solutions segment associated with our acquisitions of CapRock, Schlumberger GCS, the Core180 Infrastructure and Carefx.
(2) Results for fiscal 2010 included: a $14.5 million after-tax ($.11 per diluted share) charge for integration and other costs in our RF
Communications segment associated with our acquisition of Wireless Systems; a $3.6 million after-tax ($.03 per diluted share) charge for
integration and other costs in our Integrated Network Solutions segment associated with our acquisitions of Patriot Technologies, LLC
(“Patriot”), SignaCert, Inc. (“SignaCert”) and CapRock; and a $1.8 million after-tax ($.01 per diluted share) charge for integration and other
costs in our Government Communications Systems segment associated with our acquisitions of Crucial Security, Inc. (“Crucial”) and the Air
Traffic Control business unit (“SolaCom ATC”) of SolaCom Technologies, Inc.
(3) Results for fiscal 2009 included: a $196.7 million after-tax ($1.48 per diluted share) non-cash charge for impairment of goodwill and other
long-lived assets in our Integrated Network Solutions segment related to Broadcast and New Media Solutions; a $6.0 million after-tax ($.04
per diluted share) charge for integration and other costs in our RF Communications segment associated with our acquisition of Wireless
Systems; an $18.0 million after-tax ($.14 per diluted share) charge, net of government cost reimbursement, for company-wide cost-reduction
actions; and a $6.5 million after-tax ($.05 per diluted share) favorable impact from the settlement of the U.S. Federal income tax audit of
fiscal year 2007.
(4) Results for fiscal 2008 included: a $47.1 million after-tax ($.34 per diluted share) charge for schedule and cost overruns on commercial
satellite reflector programs in our Government Communications Systems segment; a $6.2 million after-tax ($.05 per diluted share) increase to
income related to the renegotiation of pricing on an IT services contract in our Integrated Network Solutions segment; and an $11.0 million
after-tax ($.08 per diluted share) favorable impact from the settlement of U.S. Federal income tax audits of fiscal years 2004 through 2006.
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