<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 11-K
_____________________
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 1996
OR
[ ] 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 W. NASA Blvd.
Melbourne, Florida 32919
<PAGE> 2
HARRIS CORPORATION
RETIREMENT PLAN
Financial Statements
June 30, 1996
<PAGE> 3
HARRIS CORPORATION RETIREMENT PLAN
Table of Contents
June 30, 1996 PAGE
- --------------------------------------------------------------------------------
INDEPENDENT AUDITOR'S REPORT 1
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits 2-5
Statement of Changes in Net Assets Available for Benefits 6-7
Notes to Financial Statements 8-12
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<PAGE> 4
[BRAY, BECK & KOETTER LETTERHEAD]
INDEPENDENT AUDITOR'S REPORT
Investment Committee
Harris Corporation Retirement Plan
Melbourne, Florida
We have audited the accompanying statements of net assets available for benefits
of the Harris Corporation Retirement Plan (the "Plan") as of June 30, 1996 and
1995, and the related statement of changes in net assets available for benefits
for the year ended June 30, 1996. 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 generally accepted auditing
standards. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as 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
30, 1996 and 1995, and the changes in its net assets available for benefits for
the year ended June 30, 1996, in conformity with generally accepted accounting
principles.
/s/ Bray, Beck & Koetter
Melbourne, Florida
October 3, 1996
1
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<PAGE> 5
FINANCIAL STATEMENTS
<PAGE> 6
HARRIS CORPORATION RETIREMENT PLAN
Statements of Net Assets Available for Benefits
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
June 30, 1996
----------------------------------------------------------------
Money Equity
Balanced Short-Term Market Income
Fund Bond Fund Fund Fund
------------- --------------- ---------------- --------------
ASSETS
<S> <C> <C> <C> <C>
INVESTMENTS (NOTE 3):
Plan interest in Harris
Corporation Master Trust $736,649,161 $ 99,748,323 $ 494,442 $248,831,079
Participant loans -- -- -- --
------------ ------------ ------------ ------------
Total investments 736,649,161 99,748,323 494,442 248,831,079
RECEIVABLES:
Contribution receivable from
Harris Corporation 23,214,104 -- -- --
Contributions receivable from
participants 553,478 -- -- --
Accrued interest and dividends 3,736,081 1,077,475 63,063 964,451
Securities sold 6,237,577 -- -- 270,811
------------ ----------- ---------- -----------
Total receivables 33,741,240 1,077,475 63,063 1,235,262
CASH AND CASH EQUIVALENTS
(NOTE 2) 8,453,776 1,100,595 13,706,671 23,777,377
------------ ----------- ---------- -----------
Total assets 778,844,177 101,926,393 14,264,176 273,843,718
LIABILITIES
Accrued expenses 64,792 -- -- --
Securities purchased 9,768,804 1,479,759 -- 1,822,173
------------ ------------ ------------ ------------
Total liabilities 9,833,596 1,479,759 -- 1,822,173
------------ ------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $769,010,581 $100,446,634 $ 14,264,176 $272,021,545
============ ============ ============ ============
</TABLE>
See accompanying notes to financial statements. 2
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<PAGE> 7
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<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------
Equity Stable Harris
Index Value Growth Corporation Loan
Fund Fund Fund Stock Fund Fund Total
- -------------- -------------- -------------- ------------- -------------- ---------------
<C> <C> <C> <C> <C> <C>
$ 140,830,363 $ 190,471,822 $ 129,102,909 $ 12,950,548 $ -- $1,559,078,647
-- -- -- -- 33,790,689 33,790,689
- -------------- -------------- -------------- ------------- ------------- --------------
140,830,363 190,471,822 129,102,909 12,950,548 33,790,689 1,592,869,336
-- -- -- -- -- 23,214,104
-- -- -- -- -- 553,478
212,987 1,017,040 65,872 2,066 -- 7,139,035
12,066 -- 152,371 -- -- 6,672,825
- -------------- -------------- -------------- ------------- ------------- --------------
225,053 1,017,040 218,243 2,066 -- 37,579,442
4,431,651 824,616 1,652,527 310,248 -- 54,257,461
- -------------- -------------- -------------- ------------- ------------- --------------
145,487,067 192,313,478 130,973,679 13,262,862 33,790,689 1,684,706,239
217,912 -- -- -- -- 282,704
-- -- 251,528 -- -- 13,322,264
- -------------- -------------- -------------- -------------- -------------- --------------
217,912 -- 251,528 -- -- 13,604,968
- -------------- -------------- -------------- -------------- -------------- --------------
$ 145,269,155 $ 192,313,478 $ 130,722,151 $ 13,262,862 $ 33,790,689 $1,671,101,271
============== ============== ============== ============== ============== ==============
</TABLE>
Continued 3
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<PAGE> 8
HARRIS CORPORATION RETIREMENT PLAN
Statements of Net Assets Available for Benefits
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
June 30, 1995
---------------------------------------------------------------
Money Equity
Balanced Short-Term Market Income
Fund Bond Fund Fund Fund
------------ ------------ ------------ -------------
<S> <C> <C> <C> <C>
ASSETS
INVESTMENTS (NOTE 3):
Plan interest in Harris Corporation
Master Trust $634,709,144 $111,001,992 $ 11,315,046 $189,831,622
Participant loans - - - -
------------ ------------ ------------ ------------
Total investments 634,709,144 111,001,992 11,315,046 189,831,622
RECEIVABLES:
Contribution receivable from
Harris Corporation 22,074,992 - - -
Contributions receivable from
participants 560,391 - - -
Accrued interest and dividends 3,836,450 1,316,549 58,704 -
Securities sold - - - -
------------ ------------ ------------ ------------
Total receivables 26,471,833 1,316,549 58,704 -
CASH AND CASH EQUIVALENTS
(NOTE 2) 38,424,672 511,513 2,572,691 545
------------ ------------ ------------ ------------
Total assets 699,605,649 112,830,054 13,946,441 189,832,167
LIABILITIES
Accrued expenses 283,423 - - -
Securities purchased 10,005,953 2,773,070 - -
------------ ------------ ------------ ------------
Total liabilities 10,289,376 2,773,070 - -
------------ ------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $689,316,273 $110,056,984 $ 13,946,441 $189,832,167
============ ============ ============ ============
</TABLE>
See accompanying notes to financial statements. 4
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<PAGE> 9
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<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
Equity Stable Harris
Index Value Growth Corporation Loan
Fund Fund Fund Stock Fund Fund Total
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
$ 89,718,568 $208,751,581 $ 85,857,003 $ 6,618,388$ - $1,337,803,344
- - - - 37,593,676 37,593,676
------------- ------------- ------------- ------------ ------------ --------------
89,718,568 208,751,581 85,857,003 6,618,388 37,593,676 1,375,397,020
- - - - - 22,074,992
- - - - - 560,391
115,082 1,108,370 302 567 - 6,436,024
- 76,919 - - - 76,919
------------- ------------- ------------- ------------ ------------ --------------
115,082 1,185,289 302 567 - 29,148,326
1,109,038 10,366,715 - 344,809 - 53,329,983
------------- ------------- ------------- ------------ ------------ --------------
90,942,688 220,303,585 85,857,305 6,963,764 37,593,676 1,457,875,329
111,447 - - - - 394,870
- - - - - 12,779,023
------------- ------------- ------------- ------------ ------------ --------------
111,447 - - - - 13,173,893
------------- ------------- ------------- ------------ ------------ --------------
$ 90,831,241 $ 220,303,585 $ 85,857,305 $ 6,963,764 $ 37,593,676 $1,444,701,436
============= ============= ============= ============ ============ ==============
</TABLE>
5
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<PAGE> 10
HARRIS CORPORATION RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended June 30, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Money Equity
Balanced Short-Term Market Income
Fund Bond Fund Fund Fund
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
INCREASES:
Plan interest in Harris Corporation
Master Trust investment income $ 98,870,199 $ 5,747,339 $ 775,123 $ 50,128,356
Interest income -- -- -- --
Cash contributions from Harris
Corporation under profit-
sharing program 23,214,104 -- -- --
Cash contributions under deferred income program:
From Harris Corporation 5,340,849 2,627,696 391,801 5,388,247
From plan participants 12,490,121 3,374,305 848,984 9,633,158
Transfers from other trustees 3,131,172 4,048 9,820 242,807
------------- ------------- ------------- -------------
143,046,445 11,753,388 2,025,728 65,392,568
NET PARTICIPANTS' TRANSFERS
BETWEEN FUNDS (26,909,957) (14,427,154) 1,592,225 27,582,608
DECREASES:
Benefits paid directly to
participants 34,074,829 6,662,488 3,258,949 10,721,299
Administrative expenses 2,367,351 274,096 41,269 64,499
------------- ------------- ------------- -------------
36,442,180 6,936,584 3,300,218 10,785,798
------------- ------------- ------------- -------------
NET INCREASE (DECREASE) IN NET
ASSETS AVAILABLE FOR BENEFITS 79,694,308 (9,610,350) 317,735 82,189,378
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 689,316,273 110,056,984 13,946,441 189,832,167
------------- ------------- ------------- -------------
END OF YEAR $ 769,010,581 $ 100,446,634 $ 14,264,176 $ 272,021,545
============= ============= ============= =============
</TABLE>
See accompanying notes to financial statements. 6
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<PAGE> 11
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<TABLE>
<CAPTION>
Equity Stable Harris
Index Value Growth Corporation Loan
Fund Fund Fund Stock Fund Fund Total
------------ ------------ ------------ ------------ ------------ --------------
<S> <C> <C> <C> <C> <C>
$ 26,031,912 $ 12,999,732 $ 20,375,793 $ 1,938,825 $ - $ 216,867,279
- - - - 2,651,510 2,651,510
- - - - - 23,214,104
3,225,090 3,440,753 3,564,013 2,644,464 - 26,622,913
5,853,235 5,234,795 7,508,692 1,752,221 - 46,695,511
107,529 95,524 194,650 - 129,623 3,915,173
------------ ------------ ------------ ------------ ------------ --------------
35,217,766 21,770,804 31,643,148 6,335,510 2,781,133 319,966,490
24,830,574 (27,914,043) 18,467,237 409,823 (3,631,313) -
5,527,545 21,579,300 5,124,111 446,187 2,952,807 90,347,515
82,881 267,568 121,428 48 - 3,219,140
------------ ------------ ------------ ------------ ------------ --------------
5,610,426 21,846,868 5,245,539 446,235 2,952,807 93,566,655
------------ ------------ ------------ ------------ ------------ --------------
54,437,914 (27,990,107) 44,864,846 6,299,098 (3,802,987) 226,399,835
90,831,241 220,303,585 85,857,305 6,963,764 37,593,676 1,444,701,436
------------ ------------ ------------ ------------ ------------ --------------
$145,269,155 $192,313,478 $130,722,151 $ 13,262,862 $ 33,790,689 $1,671,101,271
============ ============ ============ ============ ============ ==============
</TABLE>
7
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<PAGE> 12
HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
1. DESCRIPTION OF THE PLAN AND SIGNIFICANT ACCOUNTING POLICIES
The Harris Corporation Retirement Plan includes substantially all domestic
employees of Harris Corporation who are not covered by a collective
bargaining agreement or a defined benefit plan.
The Harris Corporation Retirement Plan and the Harris Corporation Union
Retirement Plan share a common Profit-Sharing Program and Deferred Income
Savings Program. The Corporation's annual contribution to the Balanced
Fund under the Profit-Sharing Program is equal to 11.5% of the
Corporation's adjusted and consolidated net income as defined under the
plan documents, plus any discretionary amount determined by the Board of
Directors of the Corporation. The Profit-Sharing contribution is
allocated, in the subsequent Plan year, among participating employees'
individual account balances based on eligible compensation. The Deferred
Income Savings Program was designed to take advantage of Internal Revenue
Code Section 401(k). Under the Deferred Income Savings Program,
participants may contribute up to 12% of their regular eligible
compensation to the Plan in 1% increments. The contributions can be in
pre-tax or after-tax dollars at the participant's election. The employer
contributes a matching amount equal to 100% of the participant's
contributions, to a maximum of 6.857% of eligible compensation.
Participants are eligible to make elective contributions on a pre-tax or
after-tax basis during the first year of service. Participants become
eligible to receive allocations under the Profit-Sharing Program and
matching contributions under the Deferred Income Savings Program after
completing one year of credited service.
Distributions from the Plans can be made in the event of death,
disability, termination of employment or financial hardship.
The loan program permits employees to borrow against their 401(k) plan
contributions. Employees may borrow in increments of $100 from a minimum
of $500 to a maximum of $50,000, within certain limitations established by
the Plans. Payback periods range from one to 4 1/2 years at the option of
the participant. Interest rates are established by the Corporation based
on market rates. The outstanding loans have been established as a separate
fund. Principal and interest paid on the loans are allocated to the funds
consistent with the allocation of their 401(k) plan contributions.
A participant's right to profit-sharing funds and employer matched
deferred income contributions becomes vested using a formula based upon
service, with 30% vesting after three years of credited service, an
additional 10% vesting for the fourth year, and an additional 20% vesting
for each of the three following years of credited service. At the time of
retirement, death, or termination of employment, a participant's vested
share of the Plans assets, net of any participant loans outstanding,
becomes distributable in a lump-sum payment or through installments over a
period of time as requested by the participant and approved by the
Corporate Administrative Committee.
A participant who terminates employment for reasons other than retirement
or other specified circumstances and is not 100% vested, will forfeit the
non-vested portion of the Corporation's contributions unless the
participant returns to employment within five years. The forfeited
contributions reduce the cash contributions from the Corporation.
8
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<PAGE> 13
HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
1. DESCRIPTION OF THE PLAN AND SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
In the event of termination of the Plan, the net assets of the Plan are to
be converted into cash and distributed in a lump sum to each participant
or beneficiary of a deceased participant based upon their beneficial
interest in the Plans, net of any participant loans outstanding.
Upon enrollment into the Plan, a participant may direct employer and
employee contributions in any of eight investment options. The investment
options are fully described in the "Employer Summary Plan Description".
Elections to change funds can be made once every month; however, amounts
in the Stable Value Fund, which is comprised of unallocated insurance
contracts, cannot be transferred directly to the Short-Term Bond Fund or
the Money Market Fund.
The accounting records of the Plan are maintained on the accrual basis.
The fair value of the Plan's interest in the Harris Corporation Master
Trust (the "Master Trust") is based on the beginning of year value of the
Plan's interest in the trust plus actual contributions and allocated
investment income less actual distributions and allocated administrative
expenses. Quoted market prices are used when available, to value
investments in the Master Trust. Investments for which a quoted market
value is not available are stated at fair values reported by the trustee
or investee company. Investments in unallocated insurance contracts are
stated at contract value. Participant loans are stated at cost.
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 or
depreciation in aggregate fair value of investments and the realized gain
or loss on sale of investments.
The preparation of financial statements in conformity with 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.
Unless otherwise elected by Harris Corporation, all ordinary and
extraordinary charges and expenses incurred by the Trustee in connection
with the administration of the Plan are paid by the Trustee from the
assets of the Master Trust. In both fiscal 1996 and 1995, Harris
Corporation elected to pay administrative expenses such as legal fees, tax
counsel and accounting fees. Trustee, investment manager fees and certain
administrative expenses were paid by the Plan.
2. TRANSACTIONS WITH PARTIES-IN-INTEREST
Under Department of Labor regulations for reporting and disclosure, an
employee benefit plan is required to report investment transactions and
compensation paid to a "party-in-interest".
The term "party-in-interest" is broadly defined but would include Harris
Corporation as the Plan Sponsor; Bankers Trust Company as Trustee; and any
person or corporation that renders services to the Plan.
9
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<PAGE> 14
HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
2. TRANSACTIONS WITH PARTIES-IN-INTEREST, CONTINUED
Included in cash and cash equivalents at June 30, 1996 and 1995 are
31,669,199 and 46,345,599, shares respectively, of BT Pyramid Directed
Account Cash Fund, with a fair value of $31,669,199 and $46,345,599.
Investments of the Master Trust include 48,102 shares of Bankers Trust
Small Capitalization Fund with a fair value of $27,568,416 at June 30,
1996.
At June 30, 1996 and 1995, 222,053 and 132,223 shares, respectively, of
Harris Corporation common stock were included in investments of the Harris
Corporation Master Trust.
3. INTEREST IN HARRIS CORPORATION MASTER TRUST
The Harris Corporation Master Trust was established for the investment of
assets of the Plan and the Harris Corporation Union Retirement Plan. Each
participating retirement plan has an undivided interest in the Master
Trust. The assets of the Master Trust are held by Bankers Trust Company
(Trustee). At June 30, 1996 and 1995, the Plan's interest in the net
assets of the Master Trust was approximately 97.33% and 97.69%,
respectively. Investment income and administrative expenses relating to
the Master Trust are allocated to the individual plans based upon average
monthly balances invested by each plan.
Investments of the Master Trust are as follows:
<TABLE>
<CAPTION>
1996 1995
--------------- ----------------
<S> <C> <C>
Fair value as determined by quoted market prices:
U.S. government securities $ 238,229,856 $ 256,477,882
Corporate debt securities 128,320,993 118,257,194
Foreign debt securities 17,869,790 -
Corporate equity securities 702,688,555 295,431,424
Provident Endeavor Growth Fund - 87,249,847
T. Rowe Price Equity Income Fund - 193,232,584
Wells Fargo Bank Index Fund 174,934,990 178,768,644
Putnam New Opportunities Fund 114,490,640 -
-------------- --------------
1,376,534,824 1,129,417,575
Fair value as determined by investee company:
J.P. Morgan Real Estate Fund 29,203,028 26,304,218
Contract value:
Unallocated insurance contracts 196,103,471 213,703,017
-------------- --------------
$1,601,841,323 $1,369,424,810
============== ==============
</TABLE>
10
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<PAGE> 15
HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
3. INTEREST IN HARRIS CORPORATION MASTER TRUST, CONTINUED
Investment income for the Master Trust is as follows:
<TABLE>
<CAPTION>
1996 1995
------------- ------------
<S> <C> <C>
Net appreciation (depreciation) in fair value as
determined by quoted market price:
U.S. government securities $ (1,744,855) $ 6,284,253
Corporate debt securities (2,812,728) 3,190,047
Foreign debt securities (408,567) -
Corporate equity securities 75,231,983 54,787,093
Provident Endeavor Growth Fund - 17,174,126
T. Rowe Price Equity Income Fund - 18,984,069
Wells Fargo Bank Index Fund 49,971,202 32,482,357
Putnam New Opportunities Fund 13,627,254 -
------------ ------------
133,864,289 132,901,945
Net appreciation (depreciation) in fair value as
determined by investee company:
J.P. Morgan Real Estate Fund 956,872 277,049
------------ ------------
134,821,161 133,178,994
Interest and dividends 86,597,258 63,014,155
------------ ------------
$221,418,419 $196,193,149
============ ============
</TABLE>
4. INCOME TAX STATUS
The Internal Revenue Service has ruled that the Plan qualifies under
Section 401(a) of the Internal Revenue Code (IRC) and is, therefore, not
subject to tax under present income tax law. The Plan is required to
operate in conformity with the IRC to maintain its qualification. The plan
administrator is not aware of any course of action or series of events
that have occurred that might adversely affect the Plan's qualified
status.
5. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets available for benefits per
the financial statements at June 30, 1996 and 1995 to Form 5500:
<TABLE>
<CAPTION>
1996 1995
-------------- --------------
<S> <C> <C>
Net assets available for benefits per the
financial statement $1,671,101,271 $1,444,701,436
Amounts allocated to withdrawing participants (9,495,606) (5,918,375)
-------------- --------------
Net assets available for benefits per the
Form 5500 $1,661,605,665 $1,438,783,061
============== ==============
</TABLE>
11
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<PAGE> 16
HARRIS CORPORATION RETIREMENT PLAN
Notes to Financial Statements
June 30, 1996 and 1995
- --------------------------------------------------------------------------------
5. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500, CONTINUED
The following is a reconciliation of benefits paid to participants per the
financial statements for the year ended June 30, 1996 to Form 5500:
<TABLE>
<CAPTION>
<S> <C>
Benefits paid to participants per the financial statements $90,347,515
Add (deduct) amounts allocated to withdrawing participants:
Beginning of year 9,495,606
End of year (5,918,375)
Benefits paid to participants per Form 5500 $93,924,746
===========
</TABLE>
Amounts allocated to withdrawing participants are recorded on the Form
5500 for benefit claims that have been processed and approved for payment
prior to June 30 but not yet paid as of that date.
6. AMENDMENTS
The following amendments were made to the Plan during 1996.
- The eligibility period for participation in the Deferred Income Savings
Program was lifted, effective September 1. Employees are immediately
eligible to make pre-tax or after-tax contributions of 1% - 12% of
eligible compensation.
- Immediate participation was allowed in the Harris Stock Fund, effective
April 1. Employees are able to purchase Harris stock at a 30% discount.
- Allocation of contributions to investment options was changed to allow
allocations in 1% increments (versus 10%), effective March 1.
12
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<PAGE> 17
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on their behalf by the undersigned
hereunto duly authorized.
Harris Corporation
Union Retirement Plan
/s/ Edward T. Golitko
----------------------------
Edward T. Golitko
Plan Administrator
Date: December 20, 1996
<PAGE> 1
EXHIBIT 23
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
We consent to the incorporation by reference in the following registration
statement of Harris Corporation pertaining to the Harris Corporation Retirement
Plan of our report dated October 3, 1996, with respect to the financial
statements and schedules of the Harris Corporation Retirement Plan included in
this Annual Report (Form 11-K) for the year ended June 30, 1996;
Form S-8 No. 33-50169 Harris Corporation Retirement Plan
BRAY, BECK & KOETTER
Melbourne, Florida
December 20, 1996
