L3Harris Technologies (LHX): what its 10-K says it depends on

Customers

U.S. Government

earns from · 75%named as a risk

In fiscal 2025, the percentage of our revenue that was derived from sales to U.S. Government customers, whether directly or through prime contractors, including foreign military sales funded through the U.S. Government, was 75% and no other customer accounted for more than 5% of our revenue.Business (Item 1)

Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more

International customers (non-U.S.)

earns from · $4.8 billion (22% of our revenue)named as a risk

In fiscal 2025, revenue where the end consumer is located outside the U.S., including foreign military sales funded through the U.S. Government, whether directly or through prime contractors, was $4.8 billion (22% of our revenue) and came from over 100 countries with no single foreign country accounting for more than 5% of our total revenue.Business (Item 1)

Also named by GPGI, GRC, LMT, NET, RMBS, ZS

U.S. Department of War (DoW)

earns fromnamed as a risk

We are highly dependent on revenue from U.S. Government customers, primarily defense-related programs with the DoW and other government agencies.Risk factors (Item 1A)

Also named by AIR, BA, CACI, CDRE, CVLG, GD, HII, MP and 4 more

NASA

earns from

Provides propulsion, power and armament products and systems to U.S. Government, including the DoW, National Aeronautics and Space Administration ("NASA") and major aerospace and defense prime contractors in the following business sectors:Business (Item 1)

Also named by BA, LMT, NOC, RKLB, SPIR, TDY

Suppliers

Sole-source suppliers

depends onnamed as a risk

In some instances, we depend upon a single supplier for certain components, which adds risk because that supplier may at times be unable to meet our needs and because we may have limited negotiating leverage with sole-source suppliers.Risk factors (Item 1A)

Also named by AVAV, AYI, BA, BDX, HII, IONQ, KMB, NOC and 6 more

Partners and platforms

Palantir Technologies

depends on

We also collaborate with innovative partners, such as our strategic partnerships with Palantir Technologies, Shield Capital, Anduril and Amazon Kuiper to develop new capabilities to meet the demands of our customers.Business (Item 1)

Also named by LEA

Amazon Kuiper

depends on

We also collaborate with innovative partners, such as our strategic partnerships with Palantir Technologies, Shield Capital, Anduril and Amazon Kuiper to develop new capabilities to meet the demands of our customers.Business (Item 1)

Other companies

Missile Solutions IPO

named as a risk

Strategic transactions in which we have engaged and may engage in the future, including mergers, acquisitions and divestitures, and the planned IPO of the Missile Solutions business, present significant risks and uncertainties that could adversely affect our business, financial condition, results of operations, cash flows and equity, which include:Risk factors (Item 1A)

Competitors

Northrop Grumman

competes with

We compete domestically and internationally against large defense companies; principally BAE Systems, Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, RTX, Thales and non-traditional defense contractors, such as Anduril, Ursa Major and Silvus Technologies.Business (Item 1)

Also named by KTOS, LMT, RBC

Lockheed Martin

competes with

We compete domestically and internationally against large defense companies; principally BAE Systems, Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, RTX, Thales and non-traditional defense contractors, such as Anduril, Ursa Major and Silvus Technologies.Business (Item 1)

Also named by RBC, RTX

Anduril

competes with

We compete domestically and internationally against large defense companies; principally BAE Systems, Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, RTX, Thales and non-traditional defense contractors, such as Anduril, Ursa Major and Silvus Technologies.Business (Item 1)

RTX

competes with

We compete domestically and internationally against large defense companies; principally BAE Systems, Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, RTX, Thales and non-traditional defense contractors, such as Anduril, Ursa Major and Silvus Technologies.Business (Item 1)

Places

Florida

concentrated innamed as a risk

Our corporate headquarters and significant business operations are located in Florida, which is subject to the risk of major hurricanes.Risk factors (Item 1A)

Also named by ABR, ALLY, AN, AXP, AZO, BBY, BJ, BRO and 54 more

Russia

depends onnamed as a risk

For example, some materials and components in our supply chain have previously been sourced from areas now under sanctions or other trade restrictions, such as specialty metals from Russia and certain equipment from China, or are currently sourced from areas which are at risk of sanctions or other trade restrictive actions, not just by the United States but by other nations or groups, such as the European Union.Risk factors (Item 1A)

Also named by ALSN, ATR, AVY, AXP, BKR, BSX, C, CDNA and 50 more

China

depends onnamed as a risk

For example, some materials and components in our supply chain have previously been sourced from areas now under sanctions or other trade restrictions, such as specialty metals from Russia and certain equipment from China, or are currently sourced from areas which are at risk of sanctions or other trade restrictive actions, not just by the United States but by other nations or groups, such as the European Union.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Canada

operates innamed as a risk

If we are not granted exemptions from tariffs due to the nature of our business and customers, we could see greater impacts than we currently expect, especially as it relates to tariffs between the U.S. and Canada.Risk factors (Item 1A)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Ukraine and Eastern Europe conflict

named as a risk

Ongoing instability and current conflicts in global markets, including in Ukraine and Eastern Europe, the Middle East and Asia, and the potential for other conflicts and future terrorist activities and geo-political events throughout the world have created and may continue to create economic and political uncertainties and impacts that could have a material adverse effect on our business, operations and profitability.Risk factors (Item 1A)

Hazards

Hurricanes

operates innamed as a risk

Our corporate headquarters and significant business operations are located in Florida, which is subject to the risk of major hurricanes.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

Energetic and explosive materials (rocket propulsion)

operates innamed as a risk

Our business operations are subject to risk in connection with the handling, production, and disposition of potentially explosive and ignitable energetic materials and other dangerous chemicals, including motors and other materials used in rocket propulsion.Risk factors (Item 1A)

Commodities and inputs

Canadian Dollar

exposed to its price · $203 million

As of January 2, 2026, we had open foreign currency forward contracts with an aggregate notional amount of $203 million, hedging certain forecasted transactions denominated in U.S. Dollars, Canadian Dollars and Australian Dollars.Market risk (Item 7A)

Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more

Microelectronics components

depends onnamed as a risk

We also rely on a limited number of certified microelectronics component suppliers for our products.Business (Item 1)

Regulators

U.S. Congress export approvals

subject tonamed as a risk

We may be unsuccessful in obtaining necessary licenses or authorizations or Congress may prevent or delay certain sales.Risk factors (Item 1A)

Laws and programs

Fixed-price contracts

75% of our revenuenamed as a risk

In fiscal 2025, 75% of our revenue was derived from fixed-price contracts that allow us to benefit from cost savings, but subject us to the risk of potential cost overruns, including due to greater than anticipated or a sustained period of increased inflation or unexpected delays because we assume all of the cost burden.Risk factors (Item 1A)

Also named by AVAV, MYRG, NOC

Cybersecurity Maturity Model Certification (CMMC)

subject to · Level 2

Our practices have been rigorously assessed by the Defense Contract Management Agency to meet the Level 2 Cybersecurity Maturity Model Certification requirements, reflecting our dedication to maintaining stringent security controls.Cybersecurity (Item 1C)

Also named by ADI, AVAV, BWXT, GE, HEI, HLIO, HON, HWM and 15 more

U.S. Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

U.S. Government contractors are subject to extensive legal and regulatory requirements, including the International Traffic in Arms Regulations (“ITAR”), the Export Administration Regulations (“EAR”), and U.S. Foreign Corrupt Practices Act (“FCPA”).Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

U.S. tariffs

subject tonamed as a risk

Beginning in first quarter 2025, we observed a significant shift in U.S. trade policy, with increased tariffs and the imposition of new tariffs that could impact our supply chain and our business.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

Export Administration Regulations (EAR)

subject tonamed as a risk

U.S. Government contractors are subject to extensive legal and regulatory requirements, including the International Traffic in Arms Regulations (“ITAR”), the Export Administration Regulations (“EAR”), and U.S. Foreign Corrupt Practices Act (“FCPA”).Risk factors (Item 1A)

Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more

International Traffic in Arms Regulations (ITAR)

subject tonamed as a risk

U.S. Government contractors are subject to extensive legal and regulatory requirements, including the International Traffic in Arms Regulations (“ITAR”), the Export Administration Regulations (“EAR”), and U.S. Foreign Corrupt Practices Act (“FCPA”).Risk factors (Item 1A)

Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more

Other transaction authority (OTA) agreements

subject tonamed as a risk

The DoW’s current procurement reform initiative, including the increased use of other transaction authority (“OTA”) agreements, could reduce barriers to entry and result in even greater competition and increased pricing pressure.Risk factors (Item 1A)

Also named by CACI, HII, RTX

U.S. Government budget and appropriations process

subject tonamed as a risk

Any inability of the U.S. Government to complete its budget process for any GFY and resulting operation on funding levels equivalent to its prior fiscal year pursuant to a Continuing Resolution (“CR”) or shut down, also could have material adverse consequences on our current or future business.Risk factors (Item 1A)

System for Award Management (SAM)

subject tonamed as a risk

In addition, if violations of environmental laws result in us, or in one or more of our operations, being identified as an excluded party in the U.S. Government’s System for Award Management, then we or one or more of our operations would become ineligible to receive certain contracts, subcontracts and other benefits from the federal government or to perform work under a government contract or subcontract.Risk factors (Item 1A)

Defense Federal Acquisition Regulation Supplement (DFARS)

subject to

As a defense contractor, we must comply with the DoW's cybersecurity regulations, including the Defense Federal Acquisition Regulation Supplement, relating to the protection of Controlled Unclassified Information and prompt reporting of cybersecurity incidents.Cybersecurity (Item 1C)

Also named by GD, LMT, TER, TXT

Warfighting Acquisition System

subject to

Recent reforms to the U.S. Government’s acquisition strategy, including the transformation of the Defense Acquisition System into the Warfighting Acquisition System, are fundamentally shifting procurement priorities toward speed, flexibility, and mission outcomes.Business (Item 1)