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LEIDOS HOLDINGS, INC.
UNAUDITED HISTORICAL FINANCIAL MEASURES

Background
Beginning in fiscal 2025, Leidos revised its backlog policy to include estimated future revenue on task orders expected to be awarded under sole source indefinite delivery/indefinite quantity contracts. Leidos believes this presentation provides enhanced visibility for investors and more accurately reflects the future revenues we expect to generate from our business.
The impact of this policy change is reflected in the restated values of backlog, bookings and book-to-bill ratio as follows:
June 28, 2024
(in millions)FundedUnfundedTotal
National Security & Digital$2,681 $19,704 $22,385 
Health & Civil1,607 9,015 10,622 
Commercial & International2,699 1,886 4,585 
Defense Systems1,036 2,923 3,959 
Total$8,023 $33,528 $41,551 
Recasted net bookings for the three and six months ended June 28, 2024, were $4.0 billion and $7.8 billion, respectively, and recasted book-to-bill ratio for the three months ended June 28, 2024, was 1.0.

September 27, 2024
(in millions)FundedUnfundedTotal
National Security & Digital$3,323 $20,908 $24,231 
Health & Civil1,536 10,002 11,538 
Commercial & International2,631 2,022 4,653 
Defense Systems1,602 3,489 5,091 
Total$9,092 $36,421 $45,513 

Recasted net bookings for the three and nine months ended September 27, 2024, were $8.0 billion and $15.8 billion, respectively, and recasted book-to-bill ratio for the three months ended September 27, 2024, was 1.9.

January 3, 2025
(in millions)FundedUnfundedTotal
National Security & Digital$2,881 $23,404 $26,285 
Health & Civil1,456 10,735 12,191 
Commercial & International2,456 1,901 4,357 
Defense Systems1,616 3,941 5,557 
Total$8,409 $39,981 $48,390 

Recasted net bookings for the three and twelve months ended January 3, 2025, were $7.4 billion and $23.2 billion, respectively, and recasted book-to-bill ratio for the three months ended January 3, 2025, was 1.7.
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Leidos Holdings, Inc. .2