8-KOther Events

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report (May 10, 2002)

Filed May 10, 2002For Securities:LHX

Summary

L3Harris Technologies, Inc. (formerly Harris Corporation) filed a Current Report (8-K) on May 10, 2002, primarily to disclose a change in its business segment reporting. The company is shifting from a two-segment reporting structure (Commercial and Government) to a more granular five-segment basis. This change is effective for its fiscal quarter ended March 29, 2002, and prior periods have been restated for comparability. The five new segments are Government Communications, RF Communications, Microwave Communications, Network Support, and Broadcast Communications. This move provides investors with a more detailed view of the company's performance across its various operational areas, allowing for a better understanding of revenue drivers and strategic focus within each segment.

Key Highlights

  • 1Harris Corporation is changing its business segment reporting from two segments to five segments, effective for the quarter ended March 29, 2002.
  • 2The five new reporting segments are: Government Communications, RF Communications, Microwave Communications, Network Support, and Broadcast Communications.
  • 3Prior period segment data for fiscal years 2000 and 2001, as well as fiscal quarters of 2000, 2001, and the first three quarters of fiscal 2002, have been restated to conform to the new five-segment structure.
  • 4The primary purpose of this 8-K filing is to provide summary business segment data on this new five-segment basis.
  • 5No other financial statements or pro forma information are included in this specific filing.
  • 6The filing includes information that supports Regulation FD disclosures, specifically related to the updated segment reporting.

Frequently Asked Questions

The primary reason for this 8-K filing is to announce and provide data on Harris Corporation's transition from reporting its business on a two-segment basis (Commercial and Government) to a more detailed five-segment basis. This change allows for a more granular view of the company's operational performance.

The five new business segments are Government Communications, RF Communications, Microwave Communications, Network Support, and Broadcast Communications.

This change primarily affects how results are reported and categorized. While it provides more detail, it does not inherently change the company's overall financial performance. However, investors can now analyze performance at a more detailed segment level.

The new five-segment reporting structure is effective for the fiscal quarter ended March 29, 2002. Prior periods (fiscal years 2000 and 2001, and quarterly periods within those years, plus the first three quarters of fiscal 2002) have been restated to align with this new structure for comparability.