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Kratos Defense & Security Solutions, Inc. – ‘10-Q’ for 6/26/22 – ‘R12’

On:  Thursday, 8/4/22, at 4:18pm ET   ·   For:  6/26/22   ·   Accession #:  1069258-22-54   ·   File #:  1-34460

Previous ‘10-Q’:  ‘10-Q’ on 5/5/22 for 3/27/22   ·   Next:  ‘10-Q’ on 11/3/22 for 9/25/22   ·   Latest:  ‘10-Q’ on 5/7/24 for 3/31/24   ·   5 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 8/04/22  Kratos Defense & Sec Solutio… Inc 10-Q        6/26/22   76:8M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.65M 
 2: EX-10.1     Material Contract                                   HTML    153K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     25K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     25K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     21K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     21K 
12: R1          Cover                                               HTML     74K 
13: R2          Condensed Consolidated Balance Sheets               HTML    143K 
14: R3          Condensed Consolidated Balance Sheets               HTML     37K 
                (Parenthetical)                                                  
15: R4          Condensed Consolidated Statements of Operations     HTML    163K 
16: R5          Condensed Consolidated Statements of Comprehensive  HTML     47K 
                Income (Loss)                                                    
17: R6          Condensed Consolidated Statements of Stockholders?  HTML    109K 
                Equity                                                           
18: R7          Condensed Consolidated Statements of Cash Flows     HTML    147K 
19: R8          Summary of Significant Accounting Policies          HTML     30K 
20: R9          Acquisitions                                        HTML     55K 
21: R10         Revenue Recognition                                 HTML     99K 
22: R11         Discontinued Operations                             HTML     23K 
23: R12         Goodwill and Intangible Assets                      HTML     68K 
24: R13         Inventoried Costs                                   HTML     29K 
25: R14         Net Income (Loss) per Common Share                  HTML     24K 
26: R15         Leases                                              HTML    166K 
27: R16         Income Taxes                                        HTML     43K 
28: R17         Debt                                                HTML     52K 
29: R18         Segment Information                                 HTML     69K 
30: R19         Redeemable Noncontrolling Interest                  HTML     26K 
31: R20         Significant Customers                               HTML     23K 
32: R21         Commitments and Contingencies                       HTML     28K 
33: R22         Summary of Significant Accounting Policies          HTML     41K 
                (Policies)                                                       
34: R23         Acquisitions (Tables)                               HTML     46K 
35: R24         Revenue Recognition (Tables)                        HTML     80K 
36: R25         Goodwill and Intangible Assets (Tables)             HTML    105K 
37: R26         Inventoried Costs (Tables)                          HTML     30K 
38: R27         Leases (Tables)                                     HTML    108K 
39: R28         Income Taxes (Tables)                               HTML     39K 
40: R29         Debt (Tables)                                       HTML     47K 
41: R30         Segment Information (Tables)                        HTML     63K 
42: R31         Summary of Significant Accounting Policies          HTML     25K 
                (Details)                                                        
43: R32         Acquisitions - Narrative (Details)                  HTML     73K 
44: R33         Acquisitions - Assets Acquired and Liabilities      HTML     51K 
                Assumed (Details)                                                
45: R34         Acquisitions - Consideration Paid (Details)         HTML     31K 
46: R35         Revenue Recognition - Remaining Performance         HTML     32K 
                Obligations (Details)                                            
47: R36         Revenue Recognition - Contract Assets and           HTML     32K 
                Liabilities (Details)                                            
48: R37         Revenue Recognition - Narrative (Details)           HTML     43K 
49: R38         Revenue Recognition - Disaggregation of Revenue     HTML     52K 
                (Details)                                                        
50: R39         Discontinued Operations (Details)                   HTML     29K 
51: R40         Goodwill and Intangible Assets - Goodwill           HTML     34K 
                (Details)                                                        
52: R41         Goodwill and Intangible Assets - Purchased          HTML     56K 
                Intangible Assets (Details)                                      
53: R42         Inventoried Costs (Details)                         HTML     29K 
54: R43         Net Income (Loss) per Common Share (Details)        HTML     24K 
55: R44         Leases - Lease Expense (Details)                    HTML     37K 
56: R45         Leases - Supplemental Balance Sheet (Details)       HTML     41K 
57: R46         Leases - Cash Paid (Details)                        HTML     27K 
58: R47         Leases - Weighted Average (Details)                 HTML     39K 
59: R48         Leases - Maturities of Operating and Financing      HTML     59K 
                Lease Liabilities (Details)                                      
60: R49         Income Taxes - Income Tax Provision Reconciliation  HTML     34K 
                (Details)                                                        
61: R50         Income Taxes - Narrative (Details)                  HTML     29K 
62: R51         Debt - New Credit Facility (Details)                HTML    115K 
63: R52         Debt - Long-Term Debt and the Current Period        HTML     42K 
                Interest Rates (Details)                                         
64: R53         Debt - Future Long-Term Debt Principal Payments     HTML     42K 
                (Details)                                                        
65: R54         Debt - Issuance of 6.5% Senior Secured Notes due    HTML     31K 
                2025 (Details)                                                   
66: R55         Debt - Other Indebtedness (Details)                 HTML     41K 
67: R56         Debt - Fair Value of Long-term Debt (Details)       HTML     28K 
68: R57         Segment Information - Narrative (Details)           HTML     26K 
69: R58         Segment Information - Schedule of Segment           HTML     57K 
                Revenues, Depreciation and Amortization, and                     
                Operating (Loss) (Details)                                       
70: R59         Redeemable Noncontrolling Interest (Details)        HTML     42K 
71: R60         Significant Customers (Details)                     HTML     37K 
74: XML         IDEA XML File -- Filing Summary                      XML    131K 
72: XML         XBRL Instance -- ktos-20220626_htm                   XML   2.07M 
73: EXCEL       IDEA Workbook of Financial Reports                  XLSX    128K 
 8: EX-101.CAL  XBRL Calculations -- ktos-20220626_cal               XML    261K 
 9: EX-101.DEF  XBRL Definitions -- ktos-20220626_def                XML    510K 
10: EX-101.LAB  XBRL Labels -- ktos-20220626_lab                     XML   1.46M 
11: EX-101.PRE  XBRL Presentations -- ktos-20220626_pre              XML    876K 
 7: EX-101.SCH  XBRL Schema -- ktos-20220626                         XSD    133K 
75: JSON        XBRL Instance as JSON Data -- MetaLinks              385±   583K 
76: ZIP         XBRL Zipped Folder -- 0001069258-22-000054-xbrl      Zip    407K 


‘R12’   —   Goodwill and Intangible Assets


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.22.2
Goodwill and Intangible Assets
6 Months Ended
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
 
(a)    Goodwill
 
    The carrying amounts of goodwill as of June 26, 2022 and December 26, 2021 by reportable segment are as follows (in millions):
As of June 26, 2022
KGSUSTotal
Gross value$677.3 $127.9 $805.2 
Less accumulated impairment239.5 13.8 253.3 
Net$437.8 $114.1 $551.9 
As of December 26, 2021
KGSUSTotal
Gross value$619.3 $127.9 $747.2 
Less accumulated impairment239.5 13.8 253.3 
Net$379.8 $114.1 $493.9 

(b)    Purchased Intangible Assets
 
The following table sets forth information for finite-lived and indefinite-lived intangible assets (in millions): 
 As of June 26, 2022As of December 26, 2021
 Gross
Value
Accumulated
Amortization
Net
Value
Gross
Value
Accumulated
Amortization
Net
Value
Acquired finite-lived intangible assets:    
Customer relationships$80.5 $(58.8)$21.7 $76.5 $(57.6)$18.9 
Contracts and backlog43.9 (34.4)9.5 34.9 (33.1)1.8 
Developed technology and technical know-how39.6 (26.3)13.3 31.4 (25.8)5.6 
Trade names5.0 (2.2)2.8 2.7 (2.0)0.7 
In-process research and development11.0 (0.3)10.7 9.5 (0.2)9.3 
Total finite-lived intangible assets180.0 (122.0)58.0 155.0 (118.7)36.3 
Indefinite-lived trade names6.9 — 6.9 6.9 — 6.9 
Total intangible assets$186.9 $(122.0)$64.9 $161.9 $(118.7)$43.2 
Consolidated amortization expense related to intangible assets subject to amortization was $1.6 million and $1.2 million for the three months ended June 26, 2022 and June 27, 2021, respectively, and $3.3 million and $2.6 million for the six months ended June 26, 2022 and June 27, 2021, respectively

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:8/4/22
For Period end:6/26/22
12/26/2110-K
6/27/2110-Q
 List all Filings 


2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/13/24  Kratos Defense & Sec Solutio… Inc 10-K       12/31/23  118:12M
 2/23/23  Kratos Defense & Sec Solutio… Inc 10-K       12/25/22  114:13M


3 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/08/19  Kratos Defense & Sec Solutio… Inc 10-Q        3/31/19   79:43M
 5/10/18  Kratos Defense & Sec Solutio… Inc 10-Q        4/01/18   73:10M
 2/27/17  Kratos Defense & Sec Solutio… Inc 10-K       12/25/16   92:16M
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Filing Submission 0001069258-22-000054   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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