LDOS · 10-Q · 2026Q3 · Full report
Liquidity and Debt Position
Leidos Holdings, Inc. · 2026-08-04 · Importance 84 · Surprise 74 · Matches filing data
Leidos held $748 million of cash and cash equivalents as of July 3, 2026, with no borrowings under its $1.5 billion revolving credit facility and no commercial paper outstanding. Outstanding debt increased to $6.0 billion from $4.6 billion at January 2, 2026, primarily after issuing $600 million of 4.10% notes due March 2029 and $800 million of 5.00% notes due March 2036. The note proceeds funded part of the Entrust acquisition consideration and general corporate purposes, while six-month debt principal payments totaled $10 million. Leidos remained in compliance with all financial covenants as of July 3, 2026.
Key facts
- In March 2026, Leidos issued $600 million 4.10% senior unsecured notes maturing in March 2029 and $800 million 5.00% senior unsecured notes maturing in March 2036. source
- Outstanding debt was $6.0 billion at July 3, 2026 and $4.6 billion at January 2, 2026. source
- Leidos' senior unsecured revolving credit facility can provide up to $1.5 billion in additional borrowing and its commercial paper program may issue notes not to exceed $1.5 billion. source
- During the three and six months ended July 3, 2026, Leidos invested $12 million and $18 million, respectively, in an investment fund as a limited partner and committed to invest an additional $82 million over the next five years. source
- For the next 12 months, Leidos anticipates it will be able to meet liquidity needs including servicing debt through operations, available cash, commercial paper and, if needed, sales of accounts receivable and borrowings from its revolving credit facility. source
- As of July 3, 2026, Leidos had $748 million in cash and cash equivalents. source
- As of July 3, 2026, and January 2, 2026, there were no borrowings outstanding under the revolving credit facility and no Commercial Paper Notes outstanding. source
- Leidos was in compliance with all financial covenants as of July 3, 2026 under its senior unsecured revolving credit facility, Commercial Paper Notes, senior unsecured term loan and notes outstanding. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -9.0% | In March 2026, Leidos issued $600 million 4.10% senior unsecured notes maturing in March 2029 and $800 million 5.00% senior unsecured… |
| cash | negative | committed | -0.4% | During the three and six months ended July 3, 2026, Leidos invested $12 million and $18 million, respectively, in an investment fund as a… |
| cash | negative | realized | -0.1% | During the three and six months ended July 3, 2026, Leidos invested $12 million and $18 million, respectively, in an investment fund as a… |