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L3harris

lhx · NYSE Industrials
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Ticker lhx
Exchange NYSE
Sector Industrials
Industry Aerospace & Defense
Employees 10,000+
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FY2017 Annual Report · L3harris
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2 0 1 7   A N N U A L   R E P O R T

WE ARE ACCELERATING THE PACE OF CHANGE AT L3 TECHNOLOGIES. WE’RE CREATING 

THE NEXT VERSION OF L3, RAPIDLY EVOLVING OUR COMPANY FOR ENHANCED 

PERFORMANCE WITH A FOCUS ON INNOVATION, COLLABORATION AND INTEGRATION.

WE ARE  
L3 3.0.

Select	Financial	Highlights

(In millions, except per share amounts)

For	the	year	ended	December	31,	

2017(a)(b)	 	

2016(a)	

2015	(a)(c)

Net sales	

Operating income	

Operating margin	

Diluted earnings per share (EPS) from continuing operations	

Diluted shares outstanding 	

Net cash from operating activities from continuing operations	

Capital expenditures, net of dispositions 	

$9,573	

$1,020	

10.7%	

$9.46	

79.6	

$985	

(150)	

Income tax payments (refunds) attributable to discontinued operations 	

27	

Free cash flow	

Cash dividends per common share	

Common stock repurchased	

$862	

$3.00	

$180	

$9,210		

$9,231	

$957		

10.4%		

$7.86		

78.8		

$785	

8.5%	

$6.01	

81.9	

$1,022		

$1,035	

(189)		

1		

$834		

$2.80		

$373		

(192)		

(11)		

$832		

$2.60	

$740

(a) The years ended December 31, 2017, 2016, and 2015 give effect to the sale of the National Security Solutions (NSS) business, which was   

completed on February 1, 2016, and the expected divestiture in 2018 of the Vertex Aerospace business. The results of these businesses   

are presented as discontinued operations. 

(b) The year ended December 31, 2017 includes an estimated tax benefit of $79 million, or $0.99 per diluted share, related to the enactment  

of the U.S. Tax Cuts and Jobs Act (U.S. Tax Reform) in December 2017.

(c) The year ended December 31, 2015 includes: (1) a non-cash goodwill impairment charge of $46 million ($44 million after income taxes),  

or $0.54 per diluted share, related to a business retained by L3 in connection with the sale of NSS, and (2) a pre-tax loss of $31 million    

($20 million after income taxes), or $0.25 per diluted share, related to business divestitures.

SALES

(In millions)

15

16

17

DILUTED EPS

from continuing operations

FREE CASH FLOW

(In millions)

$9,231

$9,210

$9,573

15

16

17

$6.01

$7.86

15

16

17

$832

$834

$862

$9.46

$740

CASH DIVIDENDS 
PER COMMON SHARE

15

16

17

$2.60

$2.80

$3.00

COMMON STOCK 
REPURCHASED

(In millions)

15

16

17

$373

$180

This Summary Annual Report should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2017.

L3	TECHNOLOGIES		2017	ANNUAL	REPORT	

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WE ARE 
L365.

WE ARE TRANSFORMING OUR CULTURE AND APPROACH TO DEEPEN, EXPAND 

WE ARE RE-ENGAGING OUR 31,000+ EMPLOYEES, REIGNITING OUR 

AND INTENSIFY OUR FOCUS ON CONTINUOUS IMPROVEMENT AND INNOVATION 

ENTREPRENEURIAL SPIRIT, AND WORKING FASTER AND CLOSER TOGETHER 

ACROSS EVERY FUNCTION OF OUR BUSINESS. EVERY SINGLE DAY. 

TO EXCEL FOR OUR COMPANY, OUR CUSTOMERS AND OUR SHAREHOLDERS. 

WE ARE 
THE FUTURE 
OF L3.

ENTREPRENEURIAL

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DEAR FELLOW SHAREHOLDERS:

2018 marks the beginning of a new era for L3 Technologies. We are executing our 

growth strategy and integrating more of our diverse capabilities to exceed the 

expectations of our customers. We are entering into a time when our core markets—

U.S. and international defense, commercial aviation and airport security—are growing. 

We are adapting to capitalize on these improved markets by intensifying our focus on 

being agile leaders and innovators in areas with attractive long-term potential. We’re 

accelerating the pace of change with an energy and confidence that stem from our 

clear vision of becoming a non-traditional 6th prime in aerospace and defense.

A Strong Foundation
I am truly excited to become the third CEO in L3’s 
history. Since joining the company in October 2015, 
I have worked closely with our executive team on a 
journey to move the enterprise toward next-level 
performance and growth. I would like to thank 
Michael Strianese for his stewardship and support. 
Under his tenure, L3 continued to advance its strong 
foundation and fundamentals. We are market leaders 
in a broad base of significant high-technology capa-
bilities, and we have a solid balance sheet, an unwav-
ering commitment to our customers, and a strong 
reputation for quality and integrity. 

It is clear that L3 is unique among our peers. 
We bring the scale, resources and capabilities of a 
large company coupled with the culture and innova-
tive mindset of small, forward-focused entrepreneurs. 
This strength, combined with our strategic agility, 
enables us to move faster when competing against the 
larger, more bureaucratic players. This is our blue-
print for the future, and we’re going to build on it.

2017: Disciplined Growth
L3 exceeded our financial plan in every metric and 
returned the company to growth for the first time in 
a decade. We achieved year-over-year growth in sales, 
orders, earnings per share and cash flow, with con-
solidated net sales increasing 4%, including organic 
sales growth of 2%. Orders increased by 5%, driven 
by performance in our Electronic Systems, Communi-
cation Systems and Sensor Systems segments, and we 
achieved a book-to-bill ratio greater than 1.0.

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L3	TECHNOLOGIES		2017	ANNUAL	REPORT	

We delivered another year of strong earnings per 
share (EPS). Diluted EPS from continuing operations 
was $9.46, up 20% from 2016, while free cash flow 
was up 3% for the year.

Capital Allocation: Shifting Focus
Our capital allocation strategy reflects our willing-
ness to invest in our future, an important dimen-
sion of delivering sustained long-term value to our 
shareholders. In 2017, we generated $985 million in 
net cash from operating activities, and in February 
2018, continued our 14-year track record of dividend 

A FUNDAMENTALLY 
DIFFERENT COMPANY

CONTINUOUS
IMPROVEMENT

ACCESS TO
KEY DOD
INFLUENCERS

RAPID
DECISION-
MAKING

CUSTOMER
INTIMACY

BEST
PRACTICES

LOCAL
AUTONOMY

SMALL	
COMPANY
AGILITY

ENTREPRE-
NEURSHIP

LEVERAGING
SCALE

GRASSROOTS
MARKET

INNOVATIVE
IDEAS

LARGE	
CORPORATION	
STRENGTHS

BRANDING

BROADER
ACCESS TO
TALENT

THE	FUTURE	BELONGS	TO	THE SWIFT.

increases. We’re deploying capital in areas where 
we see the greatest potential to grow operations and 
maximize value. We invested a robust $287 million 
in research and development (R&D), an 11% increase 
over 2016. We also spent $316 million in merger and 
acquisition (M&A) transactions and $180 million 
in share repurchases. L3 was one of the first in our 
industry to shift cash deployment toward M&A as 
we stepped up activity in attractive growth areas. 
One thing that hasn’t changed—our commitment to 
maintaining L3’s investment-grade credit rating. 

Investing in Our Future
The world is continuously evolving, and the pace 
of change is swift, particularly in defense. To 
succeed in their missions, our warfighters need 
trusted partners who quickly and affordably deliver 

innovative solutions in U.S. Department of Defense 
(DoD) high-priority areas. Airlines and commercial 
aviation customers are facing similar obstacles. The 
increase in air travel, coupled with the dynamic 
threat environment, requires more pilots and more 
advanced security in airports around the world. 
These represent significant opportunities for L3.

Both the U.S. DoD budget and commercial aviation 
are experiencing single-digit growth. Throughout 
the year, we invested in R&D, acquisitions and 
capital projects that strengthen our capabilities in 
these large markets, positioning L3 for future growth 
in C6ISR1, training, airport security, unmanned 
undersea vehicles (UUV), protected communications, 
sensors and precision engagement systems.

1  Command, Control, Communications, Computers, Combat Systems, Cyber, Intelligence, 
  Surveillance and Reconnaissance

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C6ISR is a critical competency that provides our 
forces with real-time situational awareness in an 
integrated, multi-domain battlespace. ISR integration 
and missionization have always been core strengths 
for L3. In 2017, we were selected by the U.S. Air 
Force to be the aircraft integrator to modernize its 
fleet of EC-130H Compass Call aircraft, now called 
EC-37B. This is the kind of trusted, reliable systems 
integration work we will continue to pursue, leverag-
ing our proven ability to bring new ISR capabilities 
online more rapidly and cost-effectively than 
the competition.

in increased capacity to deliver safe, efficient and 
affordable solutions. In 2018, we broke ground on a 
major expansion of our multipurpose training facility 
in Texas, adding 40,000 square feet of high-bay space. 
With our acquisition of Doss Aviation, we now offer 
complete ab initio training to our military customers. 
L3 Doss is the only third-party company authorized 
to provide initial flight training to the U.S. Air Force, 
operating a full-service facility in Colorado for fixed-
wing pilots, navigators and remotely piloted aircraft 
crews. This addition puts L3 in a stronger position to 
serve our Air Force customers’ need for top-quality 
aircrew training at lower cost.

Both military and commercial aviation are 
confronted with the challenge of a growing pilot 
shortage. Training the next generation of U.S. 
and allied military pilots is an honor and a great 
responsibility, and we are responding by investing 

The opportunities are even greater in commercial 
training. Around the world, we are opening cen-
ters to expand our ability to provide pilot train-
ing to airlines. Our October 2017 acquisition of a 

THREE-STAGE PATH TO LONG-TERM GROWTH

STAGE 2:
STRENGTHEN

Accelerate	talent	focus	through 	
recruitment	and	development

Bundle	technologies	into
innovative	solutions

	Increase	innovation	and
investment	in	R&D	and	M&A 	

Revenue	growth

STAGE 3:
NON-TRADITIONAL
6TH	PRIME

Generate	more	sales	
from	larger-scale,	
longer-lived	programs

Move	up	the	value	chain; 	
secure	prime	positions	
on	larger	contracts

Become	leaner,	faster 	
and	more	responsive	to 	
our	customers

Revenue	&	
margin	growth

STAGE 1:
INTEGRATE

Implement	L365:	Continuous	improvement	and	performance

Consolidation;	shared	services

Increased	collaboration,	quality	and	productivity

Expand	margins

Portugal-based company increased our offerings in 
Europe with the opening of the L3 European Air-
line Academy. We also announced plans to build a 
150,000-square-foot training and simulator manu-
facturing facility in the U.K. that will include the L3 
London Training Center. The facility will be equipped 
with eight new industry-leading RealitySeven™ full 
flight simulators, fixed-base simulators and space for 
classes, meetings and briefings. 

L3’s simulators and innovative “power-by-the-hour” 
business model have revolutionized the industry. 
We established a cadet training partnership with 
British Airways and won new contracts with easyJet, 
China’s Spring and Sichuan Airlines, and Japan’s 
ANA, among others, to advance our position in this 
growing area. 

To serve the global airport security market, we 
accelerated our development of total checkpoint 
solutions around our ClearScan® carry-on baggage 
and ProVision® personnel screening systems. In 
2017, ClearScan was the first automated explosives 
detection system for carry-on baggage to pass the 
new European Civil Aviation Conference standard, 
enabling passengers to keep electronics and liquids 
in their carry-on bags through the check-in process. 
Similarly, in October 2016, ClearScan received U.S. 
Transportation Security Administration (TSA) 
certification, allowing electronic devices to remain 
in luggage during screening. When coupled with our 
Mach-SmartLane® automated screening lane, the 
combined system can safely process passengers faster 
than any system in the industry, with a higher prob-
ability of detection and a lower false alarm rate.

As more missions take place in access-denied areas, 
unmanned and autonomous systems are a U.S. Navy 
priority to address evolving threats. L3 entered the 
emerging growth market for unmanned undersea 
vehicles with three acquisitions: OceanServer Tech-
nology, Open Water Power and Adaptive Methods. 
These businesses position us as a prime integrator 
in the undersea market, a strategy that is already 
beginning to pay off. In November 2017, the U.S. 
Navy awarded L3 a contract to design and integrate 
next-generation communications, mission planning, 
autonomy, navigation, and other capabilities for its 

Extra Large Unmanned Undersea Vehicle (XLUUV). 
We are also creating and demonstrating new avenues 
for protected communications. Our state-of-the-art 
technology will facilitate data teaming between 
manned and unmanned aircraft on the Apache 
MUMT-X program. In addition, our work enabling 
direct communications between advanced tactical air-
craft has yielded a next-generation solution that gives 
our customers a significant advantage over adversar-
ies. To foster more collaboration and innovation, we 
established the L3 IMPACT Center, which immerses 
operational users and development experts in a rapid 
prototyping environment. Across the company, we can 
work with customers and partners on dynamically 
changing mission scenarios to quickly design new 
solutions for operators in the field.

Our leadership in sensor technology, speed-to-market 
and cost-effective solutions led to L3’s selection by 
the United Launch Alliance (ULA) as the exclusive 
provider of launch avionics and other services for its 
new Vulcan Centaur rocket. On this program, L3 has 
secured a prime role working with the other suppliers 
to deliver for the customer. We also won a contract 
to develop next-generation Free Space Optics for the 
DoD and space customers. 

In our international business, we’re targeting oppor-
tunities around the world where our capabilities are 
best aligned with the needs of U.S. allies. In January 
2018, we formed International Boards in Australia, 
Canada and the U.K. to support our growth initia-
tives in these regions. My executive team and I have 
also traveled to Asia and the Middle East to connect 
with our customers and discuss how L3’s solutions 
meet their requirements. 

Along with strategic M&A and capital investments, 
we are continuously evaluating L3’s portfolio. As part 
of this process, we made the decision to divest Vertex 
Aerospace, which will be completed in 2018.

L3 3.0
Our L3 vision is to become a different kind of prime 
contractor, a non-traditional 6th prime that is lean 
and optimized, operating and innovating with an 
entrepreneur’s speed and sense of urgency. We are 
intently focused on our R&D approach, not just on 

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GROWTH FOCUS AREAS

We are sharpening our R&D and M&A investment focus to drive future growth in 
areas where L3 strengths, customer needs and market potential intersect.

PROTECTED COMMUNICATIONS
With	increasingly	sophisticated	adversaries, 	

C6ISR
L3	is	an	industry	leader	and	prime	integrator	in	

PRECISION ENGAGEMENT
L3	is	developing	new	alternatives	for	advanced 	

COMMERCIAL PILOT TRAINING
A	sh ortage	of	qualified	pilots	is	a	looming 	

UNMANNED UNDERSEA  
We	made	three	acquisitions	in	2017	to	leverage 	

AVIATION SECURITY
L3	i s	building	its	global	leadership	in	airport 	

protected	communications	are	more	critical 	

ISR,	delivering	advanced,	rapidly	reconfigurable	

precision	weapons	for	the	DoD.	The	low-cost	

challenge	confronting	commercial	and	military 	

and	expand	strong	L3	leadership	in	unmanned 	

security	with	acquisitions	that	support	a	fully 	

than	ever.	This	is	the	vital	connective	tissue 	

solutions	for	a	variety	of	complex	missions.	Our	

ALaMO	munition	demonstrates	how	L3’s	innovative	

aviation	worldwide.	L3’s	training	and	simulation 	

vehicle	technologies	and	systems	into	another 	

integrated	solution	for	improving	the	screening 	

between	ground,	air,	space	and	undersea 	

technologies	connect	airborne,	space-,	ground-	

and	entrepreneurial	mindset	delivered	a	unique	

solutions	include	world-class	training	centers	to 	

security-critical	realm—undersea.	

experience	and	increasing	hourly	passenger 	

domains.	This	is	an	L3	sweet	spot. 		

and	sea-based	communication	systems	to	

solution	to	increase	naval	platform	survivability	

help	customers	meet	the	need	safely,	efficiently 	

throughput	without	compromising	security.

provide	the	warfighter	with	the	actionable	

and	lethality.

and	cost-effectively.

intelligence	needed	for	real-time	situational	

awareness	and	response.

what our customers need now, but also on what 
they’re going to need five years from now. At L3, 
we pride ourselves on being a place where people 
love what they do and where they work. We are a 
company of people who not only embrace change, 
but who thrive on it. 

We call that L3 3.0.

We are undertaking a bold transformation and 
culture shift centered on Innovation, Collabora-
tion and Integration. L3 is a federation of best-in-
class entrepreneurs across a broad scope of products 
and capabilities, and we want each business to con-
centrate on four things: inventing, selling, building 
and delivering outstanding value for our customers. 
We are focused on putting the right people in the 
right places and making sure everyone is inspired 
with a relentless drive for performance and 
continuous improvement.

To achieve this, in Stage One, we are intensifying 
our integration supported by L365—our continu-
ous improvement program launched in 2017. L365 
involves a never-satisfied mindset, an ongoing 
quest for excellence that touches every corner of the 
company. It broadly encompasses eliminating waste, 
enhancing quality, improving processes and increas-
ing speed—from operations to R&D. For example, 
we’re expanding the scope of our shared services ini-
tiatives to include functions such as material procure-
ment, IT and Enterprise Resource Planning (ERP). 

Throughout 2017, we ‘sector-ized’ our divisions, 
consolidating and integrating complementary busi-
nesses to better align with customer needs and 
market opportunities. In 2018, we’re continuing this 
process and creating cost-saving synergies to clear 
the way for increased collaboration and accelerated 
innovation. This allows us to bundle our capabilities 
into cross-segment solutions, which is the best way to 
move up the food chain.

In Stage Two, we will strengthen the company as 
investments in growth and integration hit our top 
and bottom lines in 2019 and beyond. We expect our 
increased R&D, acquisitions and capital projects to 
drive sales and expand margins. 

impact—specifically for military personnel, veterans 
and their families; for communities devastated by 
natural disasters; and for the future of our nation’s 
leadership in science, technology, engineering and 
mathematics (STEM).

Stage Three is our larger goal—becoming a 
non-traditional 6th prime in the next five years—
achieving greater scale without compromising our 
entrepreneurial spirit. We will become a company 
transformed by securing more prime positions on 
major contracts and generating a higher percentage 
of sales from larger programs. This will deliver 
higher profits and cash flow, which we’ll continue to 
reinvest to drive top-line and earnings growth in the 
years ahead. 

Strong Company, Stronger Community
Transforming L3’s culture likewise increases our 
ability to support the communities around us. We 
are donating funds, time and talent to make a real 

L3 is a major supporter of Homes For Our Troops 
(HFOT). We raised significant funds for the program 
in 2017, in addition to volunteering at more than 50
HFOT build events nationwide. This is just one of 
numerous organizations and programs we support in 
honor of the men and women who serve our country, 
including the USO, Tragedy Assistance Program for 
Survivors (TAPS) and Bob Woodruff’s Stand Up for 
Heroes event.

In 2017, natural disasters devastated many areas in 
the U.S. L3 responded by donating to American Red 
Cross hurricane relief efforts. We also established 
L3 Cares, an emergency assistance fund to help 
employees who experience financial hardships after 

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these types of events. The fund relies primarily on 
the generous contributions of our employees, with an 
L3 company match. We will continue to expand this 
program to provide financial relief to our colleagues 
in need. 

We understand the importance of how tomorrow’s 
generation of engineers will define L3’s reputation for 
innovation. As a result, we strongly support STEM 
programs at all levels of education in a variety of 
ways, from mentorship to funding. Our newest part-
nership is with The Wings Club Foundation, which 
leads initiatives and awards scholarships to students 
pursuing careers in aerospace and aviation.

The True Growth Driver: People
For every company, performance is judged by sales, 
earnings and cash flow. These metrics are very 
important measures of success, but they’re an out-
come based on the people behind those numbers. It’s 
our people at L3 that determine our success, and we 
are hard at work ensuring our people have the right 
conditions to succeed. 

When we talk about Innovation, Collaboration 
and Integration, we’re effectively describing the 
accomplishments and efforts of all our employees 
around the world. Strategies alone do not make 
L3 3.0 a reality—there must be excellence in execu-
tion. We believe our human capital is the truest 
driver of competitive differentiation, and culture 
determines performance. This year, we distributed 
an L3 Employee Experience Survey to gain valuable 
insight to enhance our business and talent strategy. 
Our goal under our L3 3.0 transformation is to foster 
a highly inclusive workplace that attracts, encourages 
and retains the industry’s best innovators, collabora-
tors and integrators. 

As we develop talent from within, we are also recruit-
ing top people externally to help move us forward. 
Among the numerous talented leaders who recently 
joined our team is Sean Stackley, L3’s Vice President 
of Strategic Advanced Programs and Technology. 
Sean previously served as Assistant Secretary of the 
Navy (Research, Development and Acquisition) and 

brings stellar industry, policy and engineering 
experience to our team. Retired U.S. Army Lt. Gen. 
Patrick J. O'Reilly is L3’s Vice President of Engineer-
ing. Pat’s knowledge of the DoD and managing large, 
complex programs will help us advance cross-segment 
collaboration and innovation. John Feren, a world-
recognized aviation expert, joined us as Vice Presi-
dent of Business Development and Marketing for 
Commercial Aviation. In addition, we promoted 
Andrew C. Ivers, who led several businesses within 
the segment, to corporate Senior Vice President and 
President of Communication Systems. 

We are building a culture that supports our vision for 
L3 3.0—people with positive attitudes; team players 
who excel at what they do and only want to get better. 

On behalf of the entire corporation, we would like to 
thank Michael Strianese and Arthur Simon, who are 
retiring from L3’s Board of Directors in 2018. We are 
grateful for their years of distinguished service and 
many contributions to L3’s success.

Pushing the Pace 
We are building a truly unique company by leverag-
ing our strengths, identifying and capitalizing on 
opportunities, and positioning ourselves for success 
today and in the years ahead. We are singularly 
attuned to maintaining a steadfast commitment 
to our customers. We will develop and deliver the 
trusted solutions, capabilities and innovations they 
rely on to keep our warfighters, the traveling 
public, and U.S. military and commercial airline 
pilots around the world safe. 

L3 has the strength, the drive, the resources and 
the talent that enable us to redefine and exceed 
expectations. There’s no doubt in my mind—we are 
up to the task.

Sincerely, 

Christopher E. Kubasik
Chief Executive Officer and President 

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L3	TECHNOLOGIES		2017	ANNUAL	REPORT	

INNOVATION.
COLLABORATION.
INTEGRATION.
IT'S ALL ABOUT OUR PEOPLE.
ACROSS L3, WE ARE SHAPING THE 
FUTURE EVERY DAY, WORKING AS 
INNOVATORS, COLLABORATORS AND 
INTEGRATORS TO MAKE OUR VISION 
FOR L3 3.0 A REALITY. 

INTEGRATORS 
DRIVE EFFICIENCY,  
AGILITY AND  
VALUE.

OPTIMIZING EFFICIENCY EVERYWHERE

L3 is increasingly looking at its operations as an 

integrated whole, identifying opportunities to create 

efficiencies, reduce costs and improve performance 

through the consolidation of functions, businesses 

and facilities. The goal: a leaner, faster company that 

further empowers our entrepreneurial agility.

INNOVATORS 
ARE THE FUTURE  
OF L3 AND OUR  
CUSTOMERS.

INVENTION MEETS INVESTMENT

Customers need new solutions. They need them to be 

affordable, and they need them now. We are doing more 

than increasing our R&D investment—we are revamping 

our processes to ensure a sharper focus on our areas 

of strength, improve returns on our investments and 

compress development time to a sprint.

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COLLABORATORS
MOVE L3 FORWARD 
FASTER AND  
FARTHER.

LEVERAGING OUR COLLECTIVE KNOWLEDGE

L3 is ramping up cross-segment collaboration to 

develop and deliver comprehensive solutions today 

and accelerate R&D for industry-leading innovation 

tomorrow. Working in multifunctional teams turbo-

charges L3's competitiveness and capabilities, and 

creates new opportunities for growth.

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BOARD OF DIRECTORS

CORPORATE INFORMATION

Claude R. Canizares

Thomas A. Corcoran 

General (Ret.) Lloyd W. Newton

Vincent Pagano, Jr. 

General (Ret.) Ann E. Dunwoody

General (Ret.) H. Hugh Shelton

Lewis Kramer

Arthur L. Simon*

Christopher E. Kubasik

Michael T. Strianese* 

Robert B. Millard

Corporate Headquarters
You	can	contact	the	corporate	headquarters	by	writing	to:

L3	Technologies

600	Third	Avenue

New	York,	NY	10016

Equal Opportunity Employer
It	is	the	policy	of L3 Technologies, Inc.	to	be	an	equal	opportunity	
employer	and	to	comply	voluntarily	with	the	concepts	and	practices	

of	affirmative	action.	In	keeping	with	this	policy,	it	is	L3	Technologies’	

objective	to	advertise	for,	recruit,	hire,	train	and	promote	into	all	job	

or	by	calling	212-697-1111,	or	faxing	212-867-5249.

levels	the	most	qualified	applicants	without	regard	to	race,	color,	

Corporate Information
News	media,	analysts,	shareholders	and	others	seeking	corporate	

religion,	gender,	age,	national	origin,	genetic	information,	citizenship	

status,	marital	status,	gender	identity,	sexual	orientation,	disability,	

protected	veteran	status	or	any	other	legally	protected	status.	

information	about	L3	should	contact	corporate	communications	

All	such	decisions	will	be	made	in	accordance	with	established	

LEADERSHIP TEAM

Richard A. Cody
SVP,	Washington	Operations	

Ralph G. D’Ambrosio
SVP	and	Chief	Financial	Officer

Jeffrey A. Miller
SVP	and	President	of	Sensor	Systems	Segment

David M. Van Buren
SVP,	Program	Development

Ann D. Davidson
SVP,	General	Counsel	and	Corporate	Secretary

Mark R. Von Schwarz
SVP	and	President	of	Aerospace	Systems	Segment

Raymond J. DeLuke
VP,	Chief	Information	Officer

Kevin L. Weiss
VP,	Chief	Human	Resources	Officer

Todd W. Gautier
SVP	and	President	of	Electronic	Systems	Segment

Heidi R. Wood
SVP,	Corporate	Strategy	and	Technology

Andrew C. Ivers
SVP	and	President	of	Communication	Systems	Segment

personnel	policies	and	by	utilizing	objective	standards	based	on	the	

individual’s	qualifications	as	they	relate	to	the	particular	job	vacancy.	

Safe Harbor Statement Under the Private  
Securities Litigation Reform Act of 1995
Except	for	historical	information	contained	herein,	the	matters	

set	forth	in	this	Annual	Report	are	forward-looking	statements.	

Statements	that	are	predictive	in	nature,	that	depend	upon	or	refer	

to	events	or	conditions	or	that	include	words	such	as	“expects,”	

“anticipates,”	“intends,”	“plans,”	“believes,”	“estimates”	and	

similar	expressions	are	forward-looking	statements.	The	forward-

looking	statements	set	forth	herein	involve	a	number	of	risks	and	

uncertainties	that	could	cause	actual	results	to	differ	materially	

from	any	such	statement,	including	the	risks	and	uncertainties	

discussed	in	the	Company’s	“Forward-looking	Statements”	

included	in	the	Company’s	recent	filings,	including	Forms	10-K	

and	10-Q,	with	the	Securities	and	Exchange	Commission.	The	

forward-looking	statements	speak	only	as	of	the	date	made,	and	

the	Company	undertakes	no	obligation	to	update	these	forward-

looking	statements.	For	a	discussion	of	other	risks	and	uncertainties	

that	could	impair	our	results	of	operations	or	financial	condition,	

see	Part	I	-	Item	1A	-“Risk	Factors”	and	Note	18	to	our	audited	

consolidated	financial	statements	included	in	this	Annual	Report.

Credits
Design:	Conjure,	Chicago

Use	of	U.S.	DoD	and	U.S.	Coast	Guard	visual	information	does	not	

imply	or	constitute	DoD/USCG	endorsement.

©	2018	L3	Technologies,	Inc.

at	212-697-1111.

Printed Materials
Printed	financial	and	governance	materials	can	be	obtained	

without	charge	by	written	request	to	the	corporate	headquarters	

addressed	to	the	Corporate	Secretary	or	by	calling	

(866)	INFO-LLL,	(866)	463-6555.

Internet
You	can	access	quarterly	and	annual	financial	information,	

news	releases,	job	listings,	information	on	becoming	a	supplier,	

and	an	overview	of	the	company’s	products	and	services	on	the	

L3	website	at	www.L3T.com.

Stock Exchange Listing
L3’s	common	stock	is	listed	on	the	New	York	Stock	Exchange	

(NYSE)	under	the	symbol	LLL.

Annual Meeting
The	annual	meeting	of	shareholders	will	be	held	at	11:00	a.m.	on	

Monday,	May	7,	2018,	at	The	Wagner	at	The	Battery	(formerly	The	

Ritz-Carlton	New	York,	Battery	Park),	Two	West	Street,	New	York,	NY.

Shareholder Assistance
If	you	have	questions	concerning	your	shareholder	account,	

please	contact	the	stock	transfer	agent:

Regular Mail
Computershare

P.O.	Box	505000

Louisville,	KY	40233-5000

Overnight Deliveries
Computershare

462	South	4th	Street

Suite	1600

Louisville,	KY	40233-5000

or	call	877-282-1168	(781-575-2879	from	outside	the	United	States).
For	the	hearing	impaired,	the	phone	number	is	TDD:	800-490-1493.

You	can	also	contact	the	stock	transfer	agent	at	its	website	at	
www.computershare.com.

*	Will	not	stand	for	re-election	to	the	L3	Board	of	Directors	in	2018.

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L3	TECHNOLOGIES		2017	ANNUAL	REPORT	

L3	TECHNOLOGIES		2017	ANNUAL	REPORT	

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