UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

(Mark One)

þ		ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended June 27, 2008

o		TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                    

Commission file number 1-3863

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

Harris Corporation Retirement Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Harris Corporation
1025 West NASA Blvd.
Melbourne, Florida 32919

 

 

HARRIS CORPORATION
RETIREMENT PLAN


Financial Statements and Supplemental Schedule


June 27, 2008 and June 29, 2007 and
for the Fiscal Year Ended June 27, 2008

 

 

HARRIS CORPORATION RETIREMENT PLAN
June 27, 2008 and June 29, 2007
Table of Contents

Report of Independent Registered Public Accounting Firm			1
Audited Financial Statements:
Statements of Net Assets Available for Benefits at June 27, 2008 and June 29, 2007			2
Statement of Changes in Net Assets Available for Benefits for the Fiscal Year Ended June 27, 2008			3
Notes to Financial Statements			4
Supplemental Information:
Schedule H, Line 4(i) — Schedule of Assets (Held at End of Fiscal Year)			11
Exhibits:
Exhibit 23.1 Consent of Independent Registered Public Accounting Firm
Exhibit 23.1 Consent of Ernst & Young LLP

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Participants and the Harris Corporation Employee Benefits Committee
Harris Corporation Retirement Plan

We have audited the accompanying statements of net assets available for benefits of Harris Corporation Retirement Plan as of June 27, 2008 and June 29, 2007, and the related statement of changes in net assets available for benefits for the year ended June 27, 2008. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at June 27, 2008 and June 29, 2007, and the changes in its net assets available for benefits for the year ended June 27, 2008, in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of June 27, 2008 is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.

/s/ Ernst & Young LLP
Certified Public Accountants

Jacksonville, Florida
December 12, 2008

HARRIS CORPORATION RETIREMENT PLAN
Statements of Net Assets Available for Benefits

		June 27,				June 29,
		2008				2007
ASSETS
Investments at fair value:
Interest bearing cash		$	8,453,397			$	7,578,488
Preferred stocks			3,064,877				—
Common stocks			567,373,123				734,038,908
Registered investment companies			312,401,934				416,740,409
Common/collective trust funds			1,655,664,075				1,513,564,406
Guaranteed investment contracts			379,413				23,048,131
Corporate bonds and debentures			360,989				608,750
Real estate investments			846,173				—
U.S. Government securities			—				12,503,607
Participant loans			33,500,965				29,297,970
Total investments			2,582,044,946				2,737,380,669
Receivables:
Contributions receivable:
Employer			8,285,010				37,876,075
Participants			5,344,500				4,516,058
Accrued interest and dividends			48,556				2,434,936
Due from broker for securities sold			1,280,612				8,807,325
Total receivables			14,958,678				53,634,394
Total assets			2,597,003,624				2,791,015,063
LIABILITIES
Accrued expenses			508,472				316,805
Due to broker for securities purchased			793,347				11,297,662
Total liabilities			1,301,819				11,614,467
Net assets available for benefits at fair value			2,595,701,805				2,779,400,596
Adjustment from fair value to contract value for fully benefit-responsive investment contracts			14,407,298				11,141,939
Net assets available for benefits		$	2,610,109,103			$	2,790,542,535

The accompanying notes are an integral part of these financial statements.

HARRIS CORPORATION RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
For the Fiscal Year Ended June 27, 2008

		June 27, 2008
Additions to net assets attributed to:
Investment income:
Interest		$	2,853,692
Dividends			11,665,375
Total investment income			14,519,067
Contributions:
Participant rollovers			7,604,330
Performance Reward Plan			5,506,421
Employer matching			44,032,390
Participants			88,586,277
Total contributions			145,729,418
Transfers into the plan from other plans			82,518,510
Total additions			242,766,995
Deductions from net assets attributed to:
Net depreciation in fair value of investments			185,580,936
Benefits paid to participants			233,488,718
Transfers out of the plan			142,645
Administrative expenses			3,988,128
Total deductions			423,200,427
Net decrease			180,433,432
Net assets available for benefits:
Beginning of fiscal year			2,790,542,535
End of fiscal year		$	2,610,109,103

The accompanying notes are an integral part of these financial statements.

HARRIS CORPORATION RETIREMENT PLAN
Notes to the Financial Statements
June 27, 2008 and June 29, 2007

NOTE 1 — DESCRIPTION OF PLAN

The following description of the Harris Corporation Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

	A.		General — The Plan is a defined contribution plan with a 401(k) feature covering substantially all eligible employees of Harris Corporation and certain of its subsidiaries (collectively, the “Company” or “Employer”) as defined in the Plan document. The Plan Administrator is the Harris Corporation Employee Benefits Committee comprised of persons appointed by Harris Corporation. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended.
	B.		Contributions — Participants may contribute a percentage of both pre-tax and after-tax eligible compensation, as defined in the Plan document and subject to Internal Revenue Code (the “Code”) limitations. After-tax contributions may be made either on a regular after-tax basis or on a designated Roth after-tax basis. Participants age 50 and older by the end of the calendar year can contribute an additional amount above the annual pre-tax limitation, as defined in the Plan document and subject to Code limitations. The Company matches up to 50% or 100% (depending on business unit) of pre-tax and after-tax contributions subject to a limit of 4% or 6% (depending on business unit) of eligible compensation for any eligible employee who has completed the Plan’s service requirement (either six months or one year, depending on business unit). Full-time regular participants who make no election with respect to their contribution percentage are deemed to have elected deferment of 6% of eligible compensation on a pre-tax basis. With respect to the fiscal year ended June 29, 2007, the Company made non-discretionary profit sharing contributions based on a formula tied to the Company’s earnings per share and related financial targets. With respect to the fiscal year ended June 27, 2008, no profit sharing contributions were made; instead, the Company’s cash-based Performance Reward Plan (which replaced the Company’s non-discretionary profit sharing contribution program) permitted each participant to elect a special, unmatched pre-tax contribution to the Plan of 0%, 50% or 100% of the amount, if any, otherwise payable to the participant by the Company in cash under the Performance Reward Plan, subject to Code limitations. The Company may make discretionary profit sharing contributions to the Plan in an amount determined by the Company, allocated to eligible participants based on compensation as defined in the Plan document. In addition, participants also may rollover amounts to the Plan from other qualified plans.
	C.		Payments of Benefits — Prior to termination of employment, a participant may withdraw all or any portion of his or her regular after-tax account balance or rollover balance. A participant may also receive a distribution while employed for financial hardship or upon attainment of age 591/2 per the Plan document. Upon retirement or other termination of employment, a participant may elect to receive either a lump-sum amount equal to all or a portion of the participant’s vested interest in his or her account, or installments over a future period.
	D.		Participant Loans — The loan program permits participants to borrow against their pre-tax, regular after-tax, designated Roth after-tax and rollover contributions. A participant may borrow in increments of $100 from a minimum of $500 to a maximum of 50% of the vested portion of the participant’s account or $50,000 whichever is lower, within certain limitations established by the Plan document. Payback periods range from one to five years unless the loan is to be used for the purchase of a principal residence, in which case the payback period may not exceed ten years. Interest rates are established by the Company based on market rates. Loans are paid back ratably through payroll deductions. The outstanding loans have been established as a separate fund.
	E.		Participant Accounts — Each participant’s account is credited with the participant’s contribution, including the contribution, if any, in respect of the participant’s election under the Company’s cash-based Performance Reward Plan, and allocations of (a) the Company’s matching contribution, (b) the Company’s discretionary profit sharing contribution, if any, and (c) Plan earnings, and is charged with an allocation of Plan losses and administrative expenses. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements (continued)
June 27, 2008 and June 29, 2007

NOTE 1 — DESCRIPTION OF THE PLAN (CONTINUED)

F.

Vesting — Participants are immediately vested in their pre-tax, regular after-tax, designated Roth after-tax and rollover contributions plus actual earnings thereon. Vesting in the Employer matching and any profit sharing contributions, plus earnings thereon, is based on years of continuous service. Commencing July 1, 2007, a participant is 100% vested after four years of credited service, based on the following schedule:

Years of Service		Vesting Percentage
Less than 1 year			0	%
1 year			25	%
2 years			50	%
3 years			75	%
4 years			100	%

Prior to July 1, 2007, a participant was 100% vested after six years of credited service, based on the following schedule:

Years of Service		Vesting Percentage
Less than 2 years			0	%
2 years			20	%
3 years			40	%
4 years			60	%
5 years			80	%
6 years or more			100	%

			However, certain vesting schedules applicable to assets merged into the Plan have been preserved, as legally required, and may result in the vesting of Employer contributions more quickly than described above.
			A participant also becomes 100% vested in Employer contributions upon his or her termination of employment after attaining age 55 or on account of his or her death or disability.
	G.		Forfeitures — A terminated participant who is not 100% vested will forfeit the non-vested portion of the Company’s contributions unless the participant returns to employment within five years. The forfeited contributions are used first, to restore the accounts of recently located missing participants, as defined in the Plan document; next, to restore accounts of participants who are reemployed prior to incurring a break in service of five consecutive years; next, to fund any matching or profit sharing contributions to be allocated to participants who are reemployed after a period of qualified military service, as defined in the Plan document; and finally, to reduce future contributions to the Plan by the Company. Forfeited amounts included in Plan assets at June 27, 2008 and June 29, 2007 were $315,913 and $672,454, respectively. For the fiscal years ended June 27, 2008 and June 29, 2007, Employer contributions were reduced by $1,600,000 and $900,516, respectively, from forfeited non-vested accounts.
	H.		Plan Termination — Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.
	I.		Investment Options — Upon enrollment into the Plan, a participant may direct Employer and participant contributions into any of several investment options, including the Harris Stock Fund. A participant may transfer amounts from other investment options into the Harris Stock Fund, provided that no transfer shall cause more than 20% of a participant’s account to be invested in the Harris Stock Fund. The investment options are fully described in the “Employer Summary Plan Description,” which is available to all participants. In the event no investment option is selected by the participant, the default investment option for contributions is the LifeCycle Fund that is age-appropriate for the participant. Elections to change funds can be made daily; however, amounts in the Stable Value Fund, which is comprised of unallocated insurance contracts, cannot be transferred directly to the Money Market Fund. Investments are also governed by other limitations described in the Plan document.
	J.		Plan Mergers — During the fiscal year ended June 27, 2008, three defined contribution plans maintained by business units or subsidiaries of the Company were merged into the Plan. The Harris Broadcast Communications Division 401(k) Plan was merged into the Plan effective September 30, 2007. The Harris Technical Services Corporation 401(k) Plan was merged into the Plan effective October 31, 2007. The Multimax, Inc. 401(k) Retirement Savings Plan was merged into the Plan effective December 31, 2007. The total fair value of assets transferred into the Plan as a result of these mergers was $82,518,510.

HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements (continued)
June 27, 2008 and June 29, 2007

Basis of Accounting — The accounting records of the Plan are maintained on the accrual basis. Certain prior year data have been reclassified to conform to the fiscal 2008 presentation.

Recent Accounting Pronouncement — In September 2006, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“SFAS 157”). SFAS 157 establishes a framework for measuring fair value under U.S. generally accepted accounting principles (“GAAP”), clarifies the definition of fair value within that framework, and expands disclosures about the use of fair value measurements. SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. The Plan adopted SFAS 157 as of June 28, 2008 for fiscal 2009, subsequent to the end of the Plan’s fiscal 2008 on June 27, 2008. Plan management is currently evaluating the effect that the provisions of SFAS 157 will have on the Plan’s financial statements.

The Plan adopted FASB Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the“FSP”), in fiscal 2007, which ended June 29, 2007. As described in the FSP, investment contracts held by a defined contribution plan are required to be reported at fair value. However, because contract value is the relevant measurement attribute for investment contracts including fully benefit-responsive synthetic guaranteed investment contracts (“synthetic GICs”), the FSP requires that both fair value and the difference between fair value and contract value be disclosed in the Statements of Net Assets Available for Benefits, and accordingly both are so disclosed.

Valuation of Investments — The Plan’s investments are stated at fair value. Quoted market prices are used, when available, to value investments. Investments for which quoted market values are not available are stated at fair values as reported by the trustee or investee company. Participant loans are valued at their outstanding balances, which approximate fair value.

Investments in common/collective trusts are stated at fair value, based on quoted redemption values as determined by Northern Trust, the Trustee, as defined by the Plan document. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. The net appreciation (depreciation) in fair value of investments represents the sum of the unrealized appreciation (depreciation) in aggregate fair value of investments and the realized gain (loss) on sale of investments.

During fiscal 2008, the Plan held traditional guaranteed investment contracts (“traditional GICs”) and synthetic GICs in its Stable Value Fund (the “Fund”). A corresponding contract wrapper with the issuer of the synthetic GICs was also held in order to provide a variable rate of return on the cost of the investment. The fair value of the traditional GICs and the synthetic GICs was determined using a discounted cash flow method or quoted market value of underlying investments. The fair value of the wrapper contracts was based on the present value of the difference between the current fee and fee re-bids provided by the issuers and was $379,413 and zero dollars at June 27, 2008 and June 29, 2007, respectively. During fiscal 2008, the Plan discontinued all of its traditional GICs and held only synthetic GICs as of June 27, 2008.

The interest crediting rate of synthetic GICs is based on the contract value, and the fair value, duration, and yield to maturity of the portfolio of bonds underlying the synthetic GICs. The interest crediting rate is reset quarterly. The minimum crediting rate is zero percent.

The interest crediting rate reset allows the contract value to converge with the fair value of the underlying portfolio over time, assuming the portfolio continues to earn the current yield for a period of time equal to the current portfolio duration.

The primary variables impacting the future interest crediting rates of synthetic GICs include the current yield of the assets underlying the contract, the duration of the assets underlying the contract and the existing difference between the fair value and contract value of the assets within the contract.

As required by the FSP, the investments in traditional GICs and synthetic GICs are presented at fair value on the Statements of Net Assets Available for Benefits. To the extent that the underlying portfolio of a synthetic GIC has unrealized and/or realized losses, a positive adjustment is made to the adjustment from fair value to contract value under contract value accounting. As a result, the future interest crediting rate may be lower over time than the then-current market rates. Similarly, if the underlying portfolio generates unrealized and/or realized gains, a negative adjustment is made to the adjustment from fair value to contract value, and the future interest crediting rate may be higher than the then-current market rates. The adjustments ensure that ending net assets available for benefits are recorded at contract value and reflect the unrealized and/or realized gains and losses on the underlying portfolio of synthetic GICs.

HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements (continued)
June 27, 2008 and June 29, 2007

Synthetic GICs generally provide for withdrawals associated with certain events which are not in the ordinary course of Plan operations. These withdrawals are paid with a market value adjustment applied to the withdrawal as defined in the investment contract. Each contract issuer specifies the events which may trigger a market value adjustment. Such events include but are not limited to the following: material amendments to the Plan or in the administration of the Fund; changes to the Plan’s competing investment options including the elimination of equity wash provisions; complete or partial termination of the Plan, including a merger with another plan; the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA; the redemption of all or a portion of the interests in the Fund held by the Plan at the direction of the Plan sponsor, including withdrawals due to the removal of a specifically identifiable group of employees from coverage under the Plan (such as a group layoff or early retirement incentive program), the closing or sale of a subsidiary, employing unit, or affiliate, the bankruptcy or insolvency of the Plan sponsor, the merger of the Plan with another plan, or the Plan sponsor’s establishment of another tax qualified defined contribution plan; any change in law, regulation, ruling, administrative or judicial position, or accounting requirement, applicable to the Fund or the Plan; or the delivery of any communication to Plan participants designed to influence a participant not to invest in the Fund.

At this time, the Plan does not believe that the occurrence of any such market value adjustment-triggering event, which would limit the Plan’s ability to transact at contract value with participants, is probable.

If the Plan defaults in its obligations under any synthetic GIC (including the issuer’s determination that the agreement constitutes a non-exempt prohibited transaction as defined under ERISA), and such default is not corrected within the time permitted by the contract, then the contract may be terminated by the issuer and the Plan will receive the fair value of the underlying investments as of the date of termination. With the exception of this circumstance, termination of the contract by the issuer would be settled at contract value.

The average yield based on actual earnings was approximately 5.28% at June 27, 2008 and 5.05% at June 29, 2007. The average yield based on interest rate credited to participants was approximately 4.79% at June 27, 2008 and 5.04% at June 29, 2007.

Use of Estimates — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires the Plan Administrator to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results may differ from those estimates.

Administrative Expenses — Unless otherwise elected by Harris Corporation, all reasonable charges and expenses incurred in connection with the administration of the Plan are paid by the Trustee from the assets of the trust.

HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements (continued)
June 27, 2008 and June 29, 2007

NOTE 3 — INVESTMENTS

During the fiscal year ended June 27, 2008, the Plan’s investments (including investments bought, sold and held during the fiscal year) depreciated in value as follows:

		June 27, 2008
Net depreciation in fair value as determined by quoted market prices:
Preferred stocks		$	(724,794	)
Common stocks			(89,918,003	)
Registered investment companies			(27,537,020	)
Corporate bonds and debentures			(262,166	)
			(118,441,983	)
Net depreciation in fair value as determined by investee company/trustee:
Real estate investments			(199,343	)
Common/collective trusts			(66,939,610	)
			(67,138,953	)
Total net depreciation in fair value		$	(185,580,936	)

The fair value of individual investments that represent 5% or more of Plan net assets at June 27, 2008 and June 29, 2007 is as follows:

		June 27,				June 29,
		2008				2007
MFB NTGI-QM Collective Daily Russell 1000 Equity Index Fund		$	251,003,015			$	232,370,374
MFB NTGI-QM Collective Daily S&P500 Equity Index Fund			230,213,288				291,468,618
MFO Bank of New York Collective TR Aggregate Index Fund			247,919,593				300,849,810
MFO Columbia FDS SER TR Intl. Fund			189,658,204				239,422,460
Galliard Capital Management Wells Fargo Bank NA Fixed Income Fund A			133,038,313				—
Galliard Capital Management Wells Fargo Bank NA Fixed Income Fund E			151,430,213				—
Galliard Capital Management Wells Fargo Bank NA Fixed Income Fund F			242,687,071				—
Harris Corporation common stock			129,814,846				158,203,946

HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements (continued)
June 27, 2008 and June 29, 2007

NOTE 4 — RELATED-PARTY TRANSACTIONS

Certain Plan investments are shares of common stock of Harris Corporation and balances in a common/collective trust fund that are managed by Northern Trust. Harris Corporation is the Plan sponsor and Northern Trust is the Trustee and, therefore, these transactions qualify as exempt party-in-interest transactions.

     Harris Corporation common stock is included with other common stock at June 27, 2008 and June 29, 2007 as follows:

		June 27, 2008								June 29, 2007
		Shares				Fair Value				Shares				Fair Value
Harris Corporation common stock			2,536,437			$	129,814,846				2,900,164			$	158,203,946

Transactions in shares of the Company’s common stock qualify as exempt party-in-interest transactions under the provisions of ERISA. During the fiscal year ended June 27, 2008, the Plan made purchases of $8,342,839 and sales of $18,631,158 of the Company’s common stock.

NOTE 5 — INCOME TAX STATUS

The Plan received a determination letter from the Internal Revenue Service dated April 21, 2004, stating that the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the Internal Revenue Service, the Plan was amended and restated and has been further amended several times. The Plan is required to operate in conformity with the Code to maintain its qualification. The Plan sponsor has indicated that it will take the necessary steps, if any, to bring the Plan’s operations in compliance with the Code.

NOTE 6 — CREDIT RISKS AND UNCERTAINTIES

Cash amounts at the Trustee may exceed the federally insured limit from time to time. The Plan provides for investments in various investment securities, which, in general, are exposed to certain risks, such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term, and such changes could materially affect participant account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

NOTE 7 — RECONCILIATION OF PLAN FINANCIAL STATEMENTS TO THE FORM 5500

Form 5500 requires the recording of a liability for benefit amounts processed prior to year-end but not yet paid and requires fully benefit-responsive contracts to be reported at fair value. These requirements conflict with accounting principles generally accepted in the United States and the presentation of such amounts in the financial statements where they remain as part of net assets available for benefits.

     The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at June 27, 2008 and at June 29, 2007:

		June 27,				June 29,
		2008				2007
Net assets available for benefits per the financial statements		$	2,610,109,103			$	2,790,542,535
Due to participants			(251,175	)			(2,956,866	)
Adjustment to fair value from contract value for fully benefit-responsive investment contracts			(14,407,298	)			(11,141,939	)
Net assets available for benefits per the Form 5500		$	2,595,450,630			$	2,776,443,730

HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements (continued)
June 27, 2008 and June 29, 2007

     The following is a reconciliation of investment income per the financial statements to the Form 5500 for the fiscal year ended June 27, 2008:

		June 27,
		2008
Net depreciation in the fair value of investments in the financial statements		$	(185,580,936	)
Adjustment to fair value from contract value for fully benefit-responsive investment contracts			(3,265,359	)
Investment income per the Form 5500		$	(188,846,259	)

     The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the fiscal year ended June 27, 2008:

		June 27,
		2008
Benefits paid to participants per the financial statements		$	233,488,718
Add: benefits due but unpaid at June 27, 2008			251,175
Less: benefits due but unpaid at June 29, 2007			(2,956,866	)
Benefits paid to participants per the Form 5500		$	230,783,027

NOTE 8 — SUBSEQUENT EVENT

Subsequent to the end of the fiscal year ended June 27, 2008, credit and capital markets disruptions resulted in substantial volatility in financial markets and the banking system. These and other economic events have had a significant adverse impact on investment portfolios. As a result, the Plan’s investments have incurred a significant decline in fair value since June 27, 2008.

SUPPLEMENTAL INFORMATION

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)
June 27, 2008

(c)

Description of Investment

(b)

Including

(e)

Identity of Issue, Borrower, Lessor,

Maturity Date, Rate of Interest,

(d)

Current

(a)

or Similar Party

Collateral, Par or Maturity Value

Cost

Value

(In Shares/Par Value except

Participant Loans)

Corporate Debt Instruments — Other

FORD MTR CO DEL SR NT CONV 4.25 DUE 12-15-2036 REG SEDOL: B1L3918

$

487,000

$

360,989

Total Corporate Debt Instruments — Other

$

360,989

Preferred Shares

FNMA NON CUMULATIVE MANDATORY CONV PFD SER STK SEDOL: B2RDDY0

35200

$

1,427,008

MERRILL LYNCH & CO INC 9% PFD CONV CUSIP: 59022Y543

16

1,063,069

NATIONAL CITY CORP PFD CONV PERPETUAL SER G CONV PFD STK CUSIP: 635405806

6

574,800

Total Preferred Shares

$

3,064,877

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)
June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				3M CO COM			53200							$	3,697,932
				5TH 3RD BANCORP COM			103200								1,055,736
				#REORG/TRIARC COS INC CL B M/E/ARBYS GROUP INC CL A			82284								538,137
				AARON RENTS INC CL B			42212								984,384
				ABBOTT LAB COM			38200								2,024,600
				ABRAXIS BIOSCIENCE INC COM STK			5500								344,410
				ACCENTURE LTD BERMUDA CLS A COM			36323								1,501,593
				ACI WORLDWIDE INC COM STK			79288								1,389,126
				ADR ALCATEL-LUCENT			227500								1,342,250
				ADR ASML HLDG NV EURO 0.02 (NY REG)			47400								1,466,556
				ADR BP P L C SPONSORED ADR			41556								2,816,666
				ADR ASML HOOLDINGS NV NY REGISTERED SHS			21100								518,638
				ADR ELAN CORP PLC ADR REPRESENTING SHS			10900								380,519
				ADR NINTENDO LTD			10800								775,826
				ADR ROYAL DUTCH SHELL PLC SPONSORED ADR REPSTG A SHS			75900								6,076,554
				ADVANCED MED OPTICS INC COM			68000								1,315,800
				ALCOA INC COM STK			34100								1,206,458
				ALLEGHENY TECHNOLOGIES INC COM			24912								1,504,685
				ALLERGAN INC COM			73900								3,811,762
				ALLSCRIPTS HEALTHCARE SOLUTIONS INC COM			27479								350,357
				AMAZON COM INC COM			79221								5,914,640
				AMER MOVIL SAB DE C V SPONSORED ADR REPSTG SER L SHS			47000								2,473,610
				AMERICAN INTERNATIONAL GROUP			99300								2,755,575
				AMERICAN TOWER CORP CL A			50922								2,112,754
				AMGEN INC COM			64600								2,995,502
				ANADARKO PETRO CORP COM			53100								3,948,516
				ANALOG DEVICES INC COM			77500								2,456,750

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)
June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				ANHEUSER BUSCH COS INC COM			53100								3,306,006
				APPLE INC			33800								5,749,042
				APPLIED MATERIALS INC COM			59800								1,153,542
				AT&T INC COM			181141								5,934,179
				ATMEL CORP COM			158000								571,960
				AUTODESK INC COM			8400								285,852
				AUTOMATIC DATA PROCESSING INC COM			26488								1,102,960
				AVERY DENNISON CORP COM			60700								2,647,127
				BANK NEW YORK MELLON CORP COM STK			95800								3,700,754
				BANK OF AMERICA CORP			72000								1,770,480
				BAXTER INTL INC COM			8900								559,899
				BED BATH BEYOND INC COM			107100								3,112,326
				BERRY PETE CO CL A CL A			4500								259,875
				BJ SVCS CO COM			57000								1,831,410
				BLACM & DECKER CORP COM			15900								928,719
				BLOCK H & R INC COM			113600								2,365,152
				BRISTOL MYERS SQUIBB CO COM			98800								2,005,640
				BROADCOM CORP CL A CL A			135800								3,726,352
				CABLEVISION NY GROUP CL A COM			53100								1,200,060
				CAMPBELL SOUP CO COM			28300								910,694
				CAP1 FNCL COM			55100								2,110,881
				CAREER ED CORP COM			12000								189,360
				CARTER INC FRMLY CARTER HLDGS INC			75200								1,073,856
				CASTLE AM & CO MRYLAND			27470								760,370
				CBS CORP NEW CL B			89450								1,767,532
				CELGENE CORP COM			15000								949,950
				CERNER CORP COM			16500								754,050
				CENTY ALUM CO COM			22620								1,506,492
				CHEVRON CORP COM			86978								8,506,448
				CHUBB CORP COM			22700								1,135,681
				CITIGROUP INC COM			87400								1,507,650
				CL A SUB VTG SHS COM STK			33110								742,657
				CME GROUP INC COM STK			4500								1,752,750
				COINSTAR INC COM			36919								1,220,542
				COLGATE-PALMOLIVE CO COM			19100								1,302,811
				COMCAST CORP NEW CL A CL A			37900								706,077
				COMMERCIAL VEH GROUP INC COM			44200								440,674
				COMPUTER SCI CORP COM			39400								1,845,890
				COOPER COS INC COM NEW			37800								1,391,796
				COPART INC COM			11400								511,860
				COOPER INDUSTRIES INC COM			32600								1,303,348
				CORNING INC COM			1700								39,865
				CORINTHIAN COLLEGES INC COM			116900								1,393,448
				COUNTRYWIDE FINL CORP COM			69800								308,516
				CROWN CASTLE INTL CORP COM			18300								710,589
				CVS CORP COM STK			30545								1,214,775

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)
June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				D R HORTON INC COM			86900								1,006,302
				DANAHER CORP COM			30476								2,342,690
				DELL INC COM STK			157600								3,506,600
				DISNEY WALT CO COM			91000								2,872,870
				DU PONT E I DE NEMOURS & CO COM STK			68400								2,919,996
				DUKE ENERGY CORP NEW COM STK			107800								1,840,146
				DUPONT FABROS TECHNOLOGY INC COM STK			14920								280,496
				EASTMAN KODAK CO COM			94900								1,376,999
				EBAY INC COM			45500								1,256,255
				ELECTR ARTS COM			22900								1,006,226
				ELI LILLY & CO COM			87400								3,986,314
				EMC CORP COM			158500								2,341,045
				EMPLOYERS HLDGS INC COM			61240								1,240,722
				ENTERGY CORP NEW COM			21100								2,483,892
				EURONET WORLDWIDE INC COM			38236								657,659
				EXPEDIA INC DEL COM			27600								528,816
				EXPEDITORS INTL WASH INC COM			48700								2,086,795
				EXXON MOBIL CORP COM			91726								7,938,885
				FIRST AMERN CORP CALIF COM			2553								68,676
				FIRSTENERGY CORP COM			29635								2,371,096
				FMC TECHNOLOGIES INC COM			22000								1,652,860
				FNMA COM STK			120600								2,508,480
				FORD MTR CO DEL COM PAR $0.01			125700								625,986
				FORTUNE BRANDS INC COM STK			38800								2,419,956
				FOSTER WHEELER LTD			8800								637,912
				FREEPORT-MCMORAN COPPER & GOLD INC			6600								767,646
				FRKLN RES INC COM			9326								893,151
				GANNETT INC COM			92100								2,028,042
				GEN MILLS INC COM			53000								3,173,110
				GENENTECH INC COM STK			38489								2,798,920
				GENERAL DYNAMICS CORP COM			6600								549,648
				GENERAL ELEC CO COM			337300								8,857,498
				GENUINE PARTS CO COM			41700								1,664,664
				GENWORTH FINL INC COM			41700								750,183
				GENZYME CORP COM			41500								3,010,825
				GILEAD SCI INC COM			44268								2,340,006
				GOLDMAN SACHS GROUP INC COM			4100								715,696
				GOOGLE INC CL A CL A			15298								8,078,415
				HANCOCK HLDG CO COM			16470								671,646
				HANOVER INS GROUP INC COM			10580								458,114
				HARLEY DAVIDSON INC COM			49300								1,805,859
				HARMAN INTL INDS INC NEW COM STK USD0.01			22800								947,340
				*HARRIS CORP COM			2536437								129,814,846
				HENRY JACK & ASSOC INC COM			31495								688,166
				HERSHEY CO COM			111500								3,621,520

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)

June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				HOME DEPOT INC COM			137700								3,307,554
				HONEYWELL INTL INC COM STK			45500								2,239,965
				HUMANA INC COM			17600								726,352
				ICONIX BRAND GROUP INC COM			71004								854,178
				ILL TOOL WKS INC COM			67500								3,129,300
				INTEL CORP COM			133396								2,866,680
				INTERCONTINENTALEXCHANGE INC COM			17000								2,019,600
				INTL FLAVORS & FRAGRANCES INC COM			60200								2,390,542
				INTL GAME TECH COM			25716								640,586
				INTL PAPER CO COM			152096								3,557,525
				INTUITIVE SURGICAL INC COM NEW STK			8000								2,156,720
				IRON MTN INC COM STK			26000								732,160
				JOHNSON & JOHNSON COM			63600								4,043,052
				JPMORGAN CHASE & CO COM			193924								6,797,036
				JUNIPER NETWORKS INC COM			89979								2,037,125
				KEY ENERGY SVCS INC			113000								2,182,030
				KEYCORP NEW COM			102800								1,145,192
				KIMBERLY-CLARK CORP COM			30400								1,820,048
				KOHLS CORP COM			22948								949,588
				KRAFT FOODS INC CL A			72000								2,044,080
				LAMAR ADVERTISING CO CL A COM			13300								467,761
				LAS VEGAS SANDS CORP COM			53900								2,538,690
				LEGG MASON INC COM			45500								2,007,005
				LIBERTY GLOBAL INC COM SER A			6644								209,020
				LIBERTY GLOBAL INC COM SER C			36154								1,100,889
				LINCOLN NATL CORP COM			57023								2,641,305
				LIONS GATE ENTMT CORP COM NEW			123000								1,259,520
				LIVE NATION INC COM			66269								695,162
				MACYS INC COM			22700								443,331
				MAGELLAN HLTH SVCS INC COM			29760								1,125,523
				MARRIOTT INTL INC NEW COM			31500								840,735
				MARSH & MCLENNAN CO’S INC COM			172700								4,623,179
				MARVELL TECH GROUP COM USD02			107150								1,894,412
				MASCO CORP COM			126200								2,009,104
				MASTERCARD INC CL A			1300								353,236
				MATTEL INC COM			97500								1,727,700
				MC CORMICK & CO INC COM NON-VTG			31900								1,144,572
				MCDERMOTT INTL INC COM			13900								864,580
				MCGRAW HILL COMPANIES INC COM			83900								3,416,408
				MCKESSON CORP			11900								674,849
				MEADWESTVACO CORP COM			68400								1,586,196
				MEDCO HEALTH SOLUTIONS INC COM			15300								715,122
				MEDTRONIC INC COM			19554								1,001,947
				MERCK & CO INC COM			79600								2,943,608
				MERRILL LYNCH & CO INC COM			85300								2,789,310
				MERUELO MADDUX PPTYS INC COM			90930								154,581
				METROPCS COMMUNICATIONS INC COM			33700								581,662
				MGM MIRAGE COM			63568								2,198,181
				MICROSOFT CORP COM			220447								6,090,951
				MONEYGRAM INTL INC COM			126300								106,092

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)

June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				MONSTER WORLDWIDE INC COM			14700								308,406
				MOODYS CORP COM			48500								1,684,405
				MORGAN STANLEY COM STK			26257								963,894
				MOTOROLA INC COM			138800								1,020,180
				MURPHY OIL CORP COM			45600								4,390,824
				NATIONAL OILWELL VARCO COM			58500								5,171,985
				NATL CITY CORP COM			93100								445,949
				NBTY INC COM			22232								718,983
				NEW YORK TIMES CO CL A ISIN			115300								1,804,445
				NEWELL RUBBERMAID INC COM			106200								1,803,276
				NISOURCE INC COM			169200								2,981,304
				NORTHWESTERN CORP COM			43100								1,088,706
				NRG EMERGY INC COM NEW			14400								608,832
				PEABODY ENERGY CORP COM STK			22860								1,921,383
				PFIZER INC COM STK $.11 1/9 PAR			171100								2,956,608
				PG&E CORP COM			34100								1,308,758
				PINNACLE W. CAP CORP COM			36200								1,124,372
				PRAXAIR INC COM			13600								1,287,376
				PROCTER & GAMBLE CO COM			37900								2,292,571
				PROGRESS ENERGY INC COM			47000								1,953,320
				PROGRESSIVE CORP OH COM			84500								1,634,230
				QUALCOMM INC COM			29400								1,342,110
				QWEST COMMUNICATIONS INTL INC COM			349800								1,332,738

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)

June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				ROYAL BK SCOT GRP ORD GBP0.25			114400								496,107
				S.W. AIRL CO COM			81000								1,079,730
				SALESFORCE COM INC			33500								2,298,770
				SCHLUMBERGER LTD COM STK			76114								8,060,473
				SCHWAB CHARLES CORP COM NEW			13300								275,576
				SCIENTIFIC GAMES CORP			63760								1,938,304
				SLM CORP COM			109700								2,136,956
				SPECTRA ENERGY CORP COM			60800								1,731,584
				SPRINT NEXTEL CORP			184100								1,640,331
				ST JUDE MED INC COM			16648								674,910
				STARBUCKS CORP COM			131500								2,150,025
				STATE STR CORP COM			25729								1,646,913
				STRYKER CORP COMMON			34100								2,123,066
				SUN TR BANKS INC COM			72000								2,666,880
				SUNCOR INC COM STK NPV			12200								718,946
				SUNOCO INC COM			45700								1,712,836
				TECO ENERGY INC COM			34900								728,712
				TIME WARNER INC NEW COM			228100								3,289,202
				TIMKEN CO COM			12136								399,517
				TRAVELERS COS INC COM			37949								1,681,141
				TYCO ELECTRONICS L COM STK			10800								389,124
				UBS AG CHFO.10			60200								1,322,104
				UNITED PARCEL SVC INC			21200								1,279,632
				US BANCORP			125100								3,541,581
				USG CORP COM			43800								1,317,504
				UST INC COM			26400								1,431,936

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)

June 27, 2008

						(c)
						Description of Investment
				(b)		Including								(e)
				Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,				(d)				Current
(a)				or Similar Party		Collateral, Par or Maturity Value				Cost				Value
						(In Shares/Par Value except
						Participant Loans)
Corporate Common Stock
				VARIAN MED SYS INC COM ISIN			32500								1,671,475
				VERIZON COMMUNICATIONS COM			79834								2,736,710
				VISA INC COM CL A STK			34000								2,808,400
				VULCAN MATERIALS CO COM			34100								2,063,732
				WAL-MART STORES INC COM			21900								1,232,970
				WASTE MGMT INC DEL COM STK			49272								1,834,889
				WELLPOINT INC COM			22800								1,096,224
				WELLS FARGO & CO NEW COM STK			136500								3,280,095
				WHIRLPOOL CORP COM			30400								1,938,608
				WHOLE FOODS MKT INC COM			11400								281,010
				WYETH COM			85500								3,940,695
				XCEL ENERGY INC COM			96700								1,910,792
				XILINX INC COM			41072								1,037,889
				YAHOO INC COM			114100								2,433,753
				YUM BRANDS INC COM			21800								763,220
				Corporate Common Stock Total										$	567,373,123

Harris Corporation Retirement Plan

E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Fiscal Year)

June 27, 2008

				(c)
				Description of Investment
		(b)		Including				(e)
		Identity of Issue, Borrower, Lessor,		Maturity Date, Rate of Interest,		(d)		Current
(a)		or Similar Party		Collateral, Par or Maturity Value		Cost		Value
				(In Shares/Par Value except
				Participant Loans)
Participant Loans
		*PARTICIPANT LOAN ASSET — HARRIS CORP.		4.0% to 10.5% Maturing through 2017				$	33,500,965
		Participant Loans Total						$	33,500,965