Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 28, 2013 | Dec. 11, 2013 | Mar. 28, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 28-Sep-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'BERRY PLASTICS GROUP INC | ' | ' |
Entity Central Index Key | '0001378992 | ' | ' |
Current Fiscal Year End Date | '--09-28 | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Trading Symbol | 'bery | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 115,900,000 | ' |
Entity Public Float | ' | ' | $763 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $142 | $87 |
Accounts receivable, net | 449 | 455 |
Inventories: | ' | ' |
Inventory, total | 575 | 535 |
Deferred income taxes | 139 | 114 |
Prepaid expenses and other current assets | 32 | 42 |
Total current assets | 1,337 | 1,233 |
Property, plant, and equipment, net | 1,266 | 1,216 |
Goodwill, intangible assets and deferred costs | 2,520 | 2,636 |
Other assets | 12 | 21 |
Total assets | 5,135 | 5,106 |
Current liabilities: | ' | ' |
Accounts payable | 337 | 306 |
Accrued expenses and other current liabilities | 276 | 300 |
Current portion of long-term debt | 71 | 40 |
Total current liabilities | 684 | 646 |
Long-term debt, less current portion | 3,875 | 4,431 |
Deferred income taxes | 385 | 315 |
Other long-term liabilities | 387 | 166 |
Total liabilities | 5,331 | 5,558 |
Commitments and contingencies | ' | ' |
Redeemable shares | ' | 23 |
Stockholders' equity (deficit): | ' | ' |
Common stock: ($0.01 par value; 400,000,000 shares authorized; 115,895,927 shares issued and 115,825,443 shares outstanding as of September 28, 2013; 84,696,218 issued and 83,209,232 outstanding as of September 29, 2012) | 1 | 1 |
Additional paid-in capital | 322 | 131 |
Notes receivable-common stock | ' | -2 |
Non-controlling interest | 3 | 3 |
Accumulated deficit | -504 | -561 |
Accumulated other comprehensive loss | -18 | -47 |
Total stockholders' equity (deficit) | -196 | -475 |
Total liabilities and stockholders' equity (deficit) | $5,135 | $5,106 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $3 | $3 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Common stock, shares issued | 115,895,927 | 84,696,218 |
Common stock, shares outstanding | 115,825,443 | 83,209,232 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations And Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Consolidated Statements Of Operations And Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Net sales | $4,647 | $4,766 | $4,561 |
Costs and expenses: | ' | ' | ' |
Cost of goods sold | 3,835 | 3,984 | 3,908 |
Selling, general and administrative | 307 | 317 | 284 |
Amortization of intangibles | 105 | 109 | 106 |
Restructuring and impairment charges | 14 | 31 | 221 |
Operating income | 386 | 325 | 42 |
Debt extinguishment | 64 | ' | 68 |
Other income, net | -7 | -7 | -7 |
Interest expense | 244 | 328 | 327 |
Income (loss) before income taxes | 85 | 4 | -346 |
Income tax expense (benefit) | 28 | 2 | -47 |
Net income (loss) | 57 | 2 | -299 |
Comprehensive Income (Loss) | ' | ' | ' |
Currency translation | -5 | 6 | -10 |
Interest rate hedges | 20 | 4 | -8 |
Defined benefit pension and retiree benefit plans | 34 | -14 | -14 |
Provision for income taxes related to other comprehensive income items | -20 | 5 | 7 |
Other Comprehensive Income (Loss) | $86 | $3 | ($324) |
Net income (loss) per share: | ' | ' | ' |
Basic | $0.50 | $0.02 | ($3.55) |
Diluted | $0.48 | $0.02 | ($3.55) |
Weighted-average number of shares outstanding: (in thousands) | ' | ' | ' |
Basic | 113,486 | 83,435 | 84,121 |
Diluted | 119,454 | 86,644 | 84,121 |
Consolidated_Statement_Of_Chan
Consolidated Statement Of Changes In Stockholders' Equity (Deficit) (USD $) | Common Stock [Member] | Paid-in Capital [Member] | Notes Receivable - Common Stock [Member] | Non-Controlling Interest [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Total |
In Millions | |||||||
Balance at Oct. 02, 2010 | $1 | $147 | ($2) | ' | ($23) | ($264) | ($141) |
Stock compensation expense | ' | 2 | ' | ' | ' | ' | 2 |
Fair value adjustment of redeemable stock | ' | -7 | ' | ' | ' | ' | -7 |
Noncontrolling Interest | ' | ' | ' | 3 | ' | ' | 3 |
Currency translation | ' | ' | ' | ' | -10 | ' | -10 |
Interest rate hedge, net of tax | ' | ' | ' | ' | -6 | ' | -6 |
Defined benefit pension and retiree health benefit plans, net of tax | ' | ' | ' | ' | -9 | ' | -9 |
Net income | ' | ' | ' | ' | ' | -299 | -299 |
Balance at Oct. 01, 2011 | 1 | 142 | -2 | 3 | -48 | -563 | -467 |
Stock compensation expense | ' | 2 | ' | ' | ' | ' | 2 |
Fair value adjustment of redeemable stock | ' | -13 | ' | ' | ' | ' | -13 |
Interest rate hedge amortization | ' | ' | ' | ' | 3 | ' | 3 |
Currency translation | ' | ' | ' | ' | 6 | ' | 6 |
Defined benefit pension and retiree health benefit plans, net of tax | ' | ' | ' | ' | -8 | ' | -8 |
Net income | ' | ' | ' | ' | ' | 2 | 2 |
Balance at Sep. 29, 2012 | 1 | 131 | -2 | 3 | -47 | -561 | -475 |
Proceeds from issuance of common stock | ' | 27 | ' | ' | ' | ' | 27 |
Stock compensation expense | ' | 16 | ' | ' | ' | ' | 16 |
Repayment of note receivable | ' | ' | 2 | ' | ' | ' | 2 |
Termination of redeemable shares redemption requirement | ' | 23 | ' | ' | ' | ' | 23 |
Proceeds from initial public offering | ' | 438 | ' | ' | ' | ' | 438 |
Obligation under TRA | ' | -313 | ' | ' | ' | ' | -313 |
Derivative amortization, net of tax | ' | ' | ' | ' | 3 | ' | 3 |
Interest rate hedge amortization | ' | ' | ' | ' | 10 | ' | 10 |
Currency translation | ' | ' | ' | ' | -5 | ' | -5 |
Defined benefit pension and retiree health benefit plans, net of tax | ' | ' | ' | ' | 21 | ' | 21 |
Net income | ' | ' | ' | ' | ' | 57 | 57 |
Balance at Sep. 28, 2013 | $1 | $322 | ' | $3 | ($18) | ($504) | ($196) |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Cash Flows from Operating Activities: | ' | ' | ' |
Net income (loss) | $57 | $2 | ($299) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 236 | 246 | 238 |
Amortization of intangibles | 105 | 109 | 106 |
Non-cash interest expense | 14 | 24 | 21 |
Debt extinguishment | 64 | ' | 68 |
Settlement of interest rate hedge | 16 | ' | ' |
Stock compensation expense | 16 | 2 | 2 |
Deferred income tax expense | 22 | 1 | -51 |
Impairment of long-lived assets and goodwill | 6 | 20 | 200 |
Other non-cash expense | -6 | 3 | -9 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable, net | 3 | 95 | -11 |
Inventories | -43 | 37 | 59 |
Prepaid expenses and other assets | 15 | -7 | 25 |
Accounts payable and other liabilities | -41 | -53 | -22 |
Net cash from operating activities | 464 | 479 | 327 |
Cash Flows from Investing Activities: | ' | ' | ' |
Additions to property, plant and equipment | -239 | -230 | -160 |
Proceeds from disposal of assets | 18 | 30 | 5 |
Acquisition of businesses, net of cash acquired | -24 | -55 | -368 |
Net cash from investing activities | -245 | -255 | -523 |
Cash Flows from Financing Activities: | ' | ' | ' |
Proceeds from long-term debt | 1,391 | 2 | 995 |
Repayments on long-term borrowings | -1,978 | -175 | -880 |
Proceeds from issuance of common stock | 27 | ' | ' |
Purchase of common stock | ' | -6 | -2 |
Payment of tax receivable agreement | -5 | ' | ' |
Proceeds from initial public offering | 438 | ' | ' |
Repayment of notes receivable | 2 | ' | ' |
Debt financing costs | -39 | ' | -23 |
Net cash from financing activities | -164 | -179 | 90 |
Effect of currency translation on cash | ' | ' | ' |
Net change in cash and cash equivalents | 55 | 45 | -106 |
Cash and cash equivalents at beginning of period | 87 | 42 | 148 |
Cash and cash equivalents at end of period | $142 | $87 | $42 |
Basis_Of_Presentation_And_Summ
Basis Of Presentation And Summary Of Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Sep. 28, 2013 | ||||||||||||||||
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | |||||||||||||||
Basis Of Presentation And Summary Of Significant Accounting Policies | ' | |||||||||||||||
1. Basis of Presentation and Summary of Significant Accounting Policies | ||||||||||||||||
Background | ||||||||||||||||
Berry Plastics Group, Inc. ("Berry" or the "Company") is a leading provider of value-added plastic consumer packaging and engineered materials with a track record of delivering high-quality customized solutions to our customers. Representative examples of our products include drink cups, thin-wall containers, bottles, specialty closures, prescription vials, specialty films, adhesives and corrosion protection materials. We sell our solutions predominantly into consumer-oriented end-markets, such as food and beverage, healthcare and personal care. | ||||||||||||||||
Initial Public Offering, Stock Split and TRA | ||||||||||||||||
In October 2012, the Company completed an initial public offering and sold 29,411,764 shares of common stock at a public offering price of $16.00 per share. In conjunction with the initial public offering the Company executed a 12.25 for one stock split of the Company's common stock. The effect of the stock split on outstanding shares and earnings per share has been retroactively applied to all periods presented. Transaction fees totaling $33 million were included in Paid-in capital on the Consolidated Balance Sheets. Proceeds, net of transaction fees, of $438 million and cash from operations were used to repurchase $455 million of 11% Senior Subordinated Notes due September 2016. As part of the repurchase the Company paid premiums of $13 million and wrote-off $3 million of deferred financing fees. | ||||||||||||||||
In connection with the initial public offering, the Company entered into an income tax receivable agreement ("TRA") that provides for the payment to pre-initial public offering stockholders, option holders and holders of our stock appreciation rights, 85% of the amount of cash savings, if any, in U.S. federal, foreign, state and local income tax that are actually realized (or are deemed to be realized in the case of a change of control) as a result of the utilization of our and our subsidiaries' net operating losses attributable to periods prior to the initial public offering. The Company expects to pay between $313 million and $360 million in cash related to this agreement. This range is based on the Company's assumptions using various items, including valuation analysis and current tax law. The Company recorded an obligation of $313 million which was recognized as a reduction of Paid-in capital on the Consolidated Balance Sheets. Changes in the estimated TRA obligation will be recorded as Other expense (income) in the Consolidated Statement of Operations. Payments under the TRA are not conditioned upon the parties' continued ownership of the Company. | ||||||||||||||||
Secondary Public Offerings | ||||||||||||||||
In April 2013, we completed a secondary public offering in which certain funds affiliated with Apollo Global Management, LLC ("Apollo") and Graham Partners ("Graham") sold 18,975,000 shares of common stock at $17.00 per share, which included 2,475,000 shares purchased by the underwriters upon the exercise in full of their option to purchase additional shares. The selling stockholders received proceeds from the offering, which, net of underwriting fees, totaled $311 million. The Company received no proceeds and incurred fees of $1 million related to this offering. | ||||||||||||||||
In July 2013, we completed a secondary public offering in which certain funds affiliated with Apollo and Graham sold 17,250,000 shares of common stock at $21.63 per share, which included 2,250,000 shares purchased by the underwriters upon the exercise in full of their option to purchase additional shares. The selling stockholders received proceeds from the offering, which, net of underwriting fees, totaled $360 million. The Company received no proceeds and incurred fees of $1 million related to this offering. | ||||||||||||||||
Basis of Presentation | ||||||||||||||||
Periods presented in these financial statements include fiscal periods ending September 28, 2013 ("fiscal 2013"), September 29, 2012 ("fiscal 2012"), and October 1, 2011 ("fiscal 2011"). Berry, through its wholly-owned subsidiaries operates in four primary segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging. The Company's customers are located principally throughout the United States, without significant concentration in any one region or with any one customer. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. The Company's fiscal year is based on fifty-two or fifty-three week periods. The Company has evaluated subsequent events through the date the financial statements were issued. | ||||||||||||||||
Reclassification Adjustments | ||||||||||||||||
Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. The Company historically presented Other operating expenses in its Consolidated Statements of Operations, which consisted predominately of business optimization costs and management fees to affiliates of Apollo and Graham. The Company has eliminated separate presentation of Other operating expenses from its Consolidated Statements of Operations to better align with the way the Company is reviewing its operating results. The Company incurred business optimization costs of $16 million, $32 million and $31 million in fiscal 2013, fiscal 2012 and fiscal 2011, respectively and are included in Cost of goods sold. The Company recorded management fees of $9 million in fiscal 2012 and fiscal 2011, respectively and are included in Selling, general and administrative expense. The Company's management fee agreement with Apollo and other investors terminated upon completion of the initial public offering. | ||||||||||||||||
Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of Berry and its subsidiaries, all of which includes our wholly owned and majority owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Where our ownership of consolidated subsidiaries is less than 100% the non-controlling interests are reflected in stockholders' equity. | ||||||||||||||||
Revenue Recognition | ||||||||||||||||
Revenue from the sales of products is recognized at the time title and risks and rewards of ownership pass to the customer (either when the products reach the free-on-board shipping point or destination depending on the contractual terms), there is persuasive evidence of an arrangement, the sales price is fixed and determinable and collection is reasonably assured. Provisions for certain rebates, sales incentives, trade promotions, coupons, product returns and discounts to customers are accounted for as reductions in gross sales to arrive at net sales. In accordance with the Revenue Recognition standards of the Accounting Standards Codification ("Codification" or "ASC"), the Company provides for these items as reductions of revenue at the later of the date of the sale or the date the incentive is offered. These provisions are based on estimates derived from current program requirements and historical experience. | ||||||||||||||||
Shipping, handling, purchasing, receiving, inspecting, warehousing, and other costs of distribution are presented in Cost of goods sold in the Consolidated Statements of Operations. The Company classifies amounts charged to its customers for shipping and handling in Net sales in the Consolidated Statements of Operations. | ||||||||||||||||
Vendor Rebates, Purchases of Raw Materials and Concentration of Risk | ||||||||||||||||
The Company receives consideration in the form of rebates from certain vendors. The Company accrues these as a reduction of inventory cost as earned under existing programs, and reflects as a reduction of cost of goods sold at the time that the related underlying inventory is sold to customers. | ||||||||||||||||
The largest supplier of the Company's total resin material requirements represented approximately 20% of purchases in fiscal 2013. The Company uses a variety of suppliers to meet its resin requirements. | ||||||||||||||||
Research and Development | ||||||||||||||||
Research and development costs are expensed when incurred. The Company incurred research and development expenditures of $28 million, $25 million, and $20 million in fiscal 2013, 2012, and 2011, respectively. | ||||||||||||||||
Stock-Based Compensation | ||||||||||||||||
The compensation guidance of the FASB requires that the compensation cost relating to share-based payment transactions be recognized in financial statements based on alternative fair value models. The share-based compensation cost is measured based on the fair value of the equity or liability instruments issued. The Company's share-based compensation plan is more fully described in Note 12. The Company recorded total stock compensation expense of $16 million, $2 million, and $2 million for fiscal 2013, 2012 and 2011, respectively. | ||||||||||||||||
In August 2013, the Company recorded an $8 million stock compensation charge related to certain modifications to the Berry Plastics Group Inc. 2006 Equity Incentive Plan and the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (collectively, the "Plans"), and amended outstanding non-qualified stock option agreements to reflect such modifications. The modifications, include (i) accelerated vesting of all unvested options upon an employee's death or permanent disability (ii) in the event of an employee's qualified retirement, continuation of the normal vesting period applicable to the retiree's unvested options, as well as an extension of the exercise period to the end of the original ten-year term of the retiree's vested options and (iii) all unvested options and stock appreciation rights that were subject to performance-based vesting criteria as of January 1, 2013 (excluding certain IRR performance-based options) were modified to time-based vesting. | ||||||||||||||||
The Company utilizes the Black-Scholes option valuation model for estimating the fair value of the stock options. The model allows for the use of a range of assumptions. Expected volatilities utilized in the Black-Scholes model are based on implied volatilities from traded stocks of peer companies. Similarly, the dividend yield is based on historical experience and the estimate of future dividend yields. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The Company's options have a ten year contractual life. For purposes of the valuation model in fiscal 2013, the Company used the simplified method for determining the granted options expected lives. The fair value for options granted has been estimated at the date of grant using a Black-Scholes model, with the following weighted average assumptions: | ||||||||||||||||
Fiscal year | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Risk-free interest rate | 0.6 | % | 0.6 - 0.9 | % | 1.3 | % | ||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||||
Volatility factor | 0.38 | 0.38 | .32-.34 | |||||||||||||
Expected option life | 7 years | 5 years | 5 years | |||||||||||||
Foreign Currency | ||||||||||||||||
For the non-U.S. subsidiaries that account in a functional currency other than U.S. Dollars, assets and liabilities are translated into U.S. Dollars using period-end exchange rates. Sales and expenses are translated at the average exchange rates in effect during the period. Foreign currency translation gains and losses are included as a component of Accumulated other comprehensive income (loss) within stockholders' equity. Gains and losses resulting from foreign currency transactions, the amounts of which are not material in any period presented are included in the Consolidated Statements of Operations. | ||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
All highly liquid investments purchased with a maturity of three months or less from the time of purchase are considered to be cash equivalents. | ||||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||
The Company's accounts receivable and related allowance for doubtful accounts are analyzed in detail on a quarterly basis and all significant customers with delinquent balances are reviewed to determine future collectibility. The determinations are based on legal issues (such as bankruptcy status), past history, current financial and credit agency reports, and the experience of the credit representatives. Reserves are established in the quarter in which the Company makes the determination that the account is deemed uncollectible. The Company maintains additional reserves based on its historical bad debt experience. The following table summarizes the activity for fiscal 2013, 2012 and 2011 for the allowance for doubtful accounts: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Allowance for doubtful accounts, beginning | $ | 3 | $ | 4 | $ | 4 | ||||||||||
Bad debt expense | 1 | 1 | 1 | |||||||||||||
Write-offs against allowance | (1 | ) | (2 | ) | (1 | ) | ||||||||||
Allowance for doubtful accounts, ending | $ | 3 | $ | 3 | $ | 4 | ||||||||||
Inventories | ||||||||||||||||
Inventories are stated at the lower of cost or market and are valued using the first-in, first-out method. Management periodically reviews inventory balances, using recent and future expected sales to identify slow-moving and/or obsolete items. The cost of spare parts inventory is charged to manufacturing overhead expense when incurred. We evaluate our reserve for inventory obsolescence on a quarterly basis and review inventory on-hand to determine future salability. We base our determinations on the age of the inventory and the experience of our personnel. We reserve inventory that we deem to be not salable in the quarter in which we make the determination. We believe, based on past history and our policies and procedures, that our net inventory is salable. Inventory as of fiscal 2013 and 2012 was: | ||||||||||||||||
Inventories: | 2013 | 2012 | ||||||||||||||
Finished goods | $ | 335 | $ | 306 | ||||||||||||
Raw materials | 240 | 229 | ||||||||||||||
$ | 575 | $ | 535 | |||||||||||||
Property, Plant and Equipment | ||||||||||||||||
Property, plant and equipment are stated at cost. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets ranging from 15 to 25 years for buildings and improvements two to 10 years for machinery, equipment, and tooling and over the term of the agreement for capital. Leasehold improvements are depreciated over the shorter of the useful life of the improvement or the lease term. Repairs and maintenance costs are charged to expense as incurred. The Company capitalized interest of $5 million, $5 million, and $3 million in fiscal 2013, 2012, and 2011, respectively. Property, plant and equipment as of fiscal 2013 and 2012 was: | ||||||||||||||||
Property, plant and equipment: | 2013 | 2012 | ||||||||||||||
Land, buildings and improvements | $ | 302 | $ | 281 | ||||||||||||
Equipment and construction in progress | 2,241 | 2,019 | ||||||||||||||
2,543 | 2,300 | |||||||||||||||
Less accumulated depreciation | (1,277 | ) | (1,084 | ) | ||||||||||||
$ | 1,266 | $ | 1,216 | |||||||||||||
Long-lived Assets | ||||||||||||||||
Long-lived assets, including property, plant and equipment and definite lived intangible assets are reviewed for impairment at the product line level in accordance with the Property, Plant and Equipment standard of the ASC whenever facts and circumstances indicate that the carrying amount may not be recoverable. Specifically, this process involves comparing an asset's carrying value to the estimated undiscounted future cash flows the asset is expected to generate over its remaining life. If this process were to result in the conclusion that the carrying value of a long-lived asset would not be recoverable, a write-down of the asset to fair value would be recorded through a charge to operations. Fair value is determined based upon discounted cash flows or appraisals as appropriate. Long-lived assets that are held for sale are reported at the lower of the assets' carrying amount or fair value less costs related to the assets' disposition. We recorded impairment charges totaling $5 million, $20 million, and $35 million to write-down long-lived assets to their net realizable valuables during fiscal years 2013, 2012, and 2011 respectively. | ||||||||||||||||
Goodwill | ||||||||||||||||
The Company follows the principles provided by the Goodwill and Other Intangibles standard of the ASC. Goodwill is not amortized but rather tested annually for impairment. The Company performs their annual impairment test on the first day of the fourth quarter in each respective fiscal year. For purposes of conducting our annual goodwill impairment test, the Company determined that we have five reporting units, Open Top, Rigid Closed Top, Engineered Films, Flexible Packaging and Tapes. Tapes and Engineered Films comprise the Engineered Materials operating segment. We determined that each of the components within our respective reporting units have similar economic characteristics and therefore should be aggregated. We reached this conclusion because within each of our reporting units, we have similar products and production processes which allow us to share assets and resources across the product lines. We regularly re-align our production equipment and manufacturing facilities in order to take advantage of cost savings opportunities, obtain synergies and create manufacturing efficiencies. In addition, we utilize our research and development centers, design center, tool shops, and graphics center which all provide benefits to each of the reporting units and work on new products that can not only benefit one product line, but can benefit multiple product lines. We also believe that the goodwill is recoverable from the overall operations of the unit given the similarity in production processes, synergies from leveraging the combined resources, common raw materials, common research and development, similar margins and similar distribution methodologies. In fiscal 2013, the Company applied the quantitative assessment to determine whether it is more likely than not that the fair value of the reporting unit may be less than the carrying amount. Based on our review of prior quantitative tests, changes in the carrying values, operating results, relevant market data and other factors we determined that no impairment is indicated and we did not perform a two-step impairment test. In fiscal 2012, we completed step 1 of the impairment test which indicated no impairment in any of our reporting units. In fiscal 2011 the Company completed the annual impairment and determined the carrying value of the Specialty Films division, which is now included in the Engineered Materials and Flexible Packaging exceeded its fair value. The Company performed the second step of its evaluation to calculate the impairment and as a result recorded a goodwill impairment charge of $165 million in Restructuring and impairment charges on the Consolidated Statement of Operations. This impairment was primarily the result of a base volume decline of 11% in our Engineered Materials and Flexible Packaging segments. This base volume decline of 11% occurred because of a pricing strategy that we | ||||||||||||||||
implemented in the second fiscal quarter of 2011. The $165 million impairment charge incurred in fiscal 2011 is the Company's only goodwill impairment charge. | ||||||||||||||||
The changes in the carrying amount of goodwill by reportable segment are as follows: | ||||||||||||||||
Rigid Open | Rigid Closed | Engineered | Flexible | |||||||||||||
Top | Top | Materials | Packaging | Total | ||||||||||||
Balance as of fiscal 2011 | $ | 681 | $ | 819 | $ | 55 | $ | 40 | $ | 1,595 | ||||||
Foreign currency translation adjustment | - | 2 | - | - | 2 | |||||||||||
Acquisitions(divestitures) goodwill, net | - | 11 | 18 | - | 29 | |||||||||||
Balance as of fiscal 2012 | $ | 681 | $ | 832 | $ | 73 | $ | 40 | $ | 1,626 | ||||||
Foreign currency translation adjustment | - | (1 | ) | 1 | - | - | ||||||||||
Acquisitions(divestitures) goodwill, net | - | - | (1 | ) | 9 | 8 | ||||||||||
Balance as of fiscal 2013 | $ | 681 | $ | 831 | $ | 73 | $ | 49 | $ | 1,634 | ||||||
Deferred Financing Fees | ||||||||||||||||
Deferred financing fees are being amortized to interest expense using the effective interest method over the lives of the respective debt agreements. | ||||||||||||||||
Intangible Assets | ||||||||||||||||
Customer relationships are being amortized using an accelerated amortization method which corresponds with the customer attrition rates used in the initial valuation of the intangibles over the estimated life of the relationships which range from 11 to 20 years. Trademarks that are expected to remain in use, which are indefinite lived intangible assets, are required to be reviewed for impairment annually. Technology intangibles are being amortized using the straight-line method over the estimated life of the technology which is 11 years. License intangibles are being amortized using the straight-line method over the life of the license which is 10 years. Patent intangibles are being amortized using the straight-line method over the shorter of the estimated life of the technology or the patent expiration date ranging from 10 to 20 years, with a weighted-average life of 15 years. The Company evaluates the remaining useful life of intangible assets on a periodic basis to determine whether events and circumstances warrant a revision to the remaining useful life. We completed the annual impairment test of our indefinite lived tradenames and noted no impairment. As discussed in Note 10, the Company recorded a $5 million and $17 million impairment charge related to the exit of certain operations in fiscal 2013 and fiscal 2012, respectively. | ||||||||||||||||
Customer | Other | Accumulated | ||||||||||||||
Relationships | Trademarks | Intangibles | Amortization | Total | ||||||||||||
Balance as of fiscal 2011 | $ | 1,178 | $ | 286 | $ | 82 | $ | (502 | ) | $ | 1,044 | |||||
Adjustment for income taxes | - | - | (4 | ) | - | (4 | ) | |||||||||
Write-off of fully amortized intangibles | - | - | (7 | ) | 7 | - | ||||||||||
Amortization expense | - | - | - | (109 | ) | (109 | ) | |||||||||
Impairment of intangibles | (37 | ) | - | - | 20 | (17 | ) | |||||||||
Acquisition intangibles | 12 | 3 | 28 | - | 43 | |||||||||||
Balance as of fiscal 2012 | $ | 1,153 | $ | 289 | $ | 99 | $ | (584 | ) | $ | 957 | |||||
Adjustment for income taxes | (7 | ) | (1 | ) | 5 | (2 | ) | (5 | ) | |||||||
Foreign currency translation adjustment | - | - | 2 | - | 2 | |||||||||||
Write-off of fully amortized intangibles | - | (5 | ) | (1 | ) | 6 | - | |||||||||
Amortization expense | - | - | - | (105 | ) | (105 | ) | |||||||||
Impairment of intangibles | (21 | ) | (1 | ) | - | 17 | (5 | ) | ||||||||
Acquisition intangibles | 9 | 1 | 2 | - | 12 | |||||||||||
Balance as of fiscal 2013 | $ | 1,134 | $ | 283 | $ | 107 | $ | (668 | ) | $ | 856 | |||||
Insurable Liabilities | ||||||||||||||||
The Company records liabilities for the self-insured portion of workers' compensation, health, product, general and auto liabilities. The determination of these liabilities and related expenses is dependent on claims experience. For most of these liabilities, claims incurred but not yet reported are estimated by utilizing actuarial valuations based upon historical claims experience. | ||||||||||||||||
Income Taxes | ||||||||||||||||
The Company accounts for income taxes under the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequence of events that have been recognized in the Company's financial statements or income tax returns. Income taxes are recognized during the period in which the underlying transactions are recorded. Deferred taxes, with the exception of non-deductible goodwill, are provided for temporary differences between amounts of assets and liabilities as recorded for financial reporting purposes and such amounts as measured by tax laws. If the Company determines that a deferred tax asset arising from temporary differences is not likely to be utilized, the Company will establish a valuation allowance against that asset to record it at its expected realizable value. The Company recognizes uncertain tax positions when it is more likely than not that the tax position will be sustained upon examination by relevant taxing authorities, based on the technical merits of the position. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company's effective tax rate is dependent on many factors including: the impact of enacted tax laws in jurisdictions in which the Company operates; the amount of earnings by jurisdiction, due to varying tax rates in each country; and the Company's ability to utilize foreign tax credits related to foreign taxes paid on foreign earnings that will be remitted to the United States. | ||||||||||||||||
Comprehensive Income (Loss) | ||||||||||||||||
Comprehensive income (loss) is comprised of net income (loss) and other comprehensive income (loss). Other comprehensive losses include net unrealized gains or losses resulting from currency translations of foreign subsidiaries, changes in the value of our derivative instruments and adjustments to the pension liability. | ||||||||||||||||
The accumulated balances related to each component of other comprehensive income (loss) were as follows (amounts below are net of taxes): | ||||||||||||||||
Defined Benefit | ||||||||||||||||
Currency | Pension and Retiree | Interest Rate | Accumulated Other | |||||||||||||
Translation | Health Benefit Plans | Hedges | Comprehensive Loss | |||||||||||||
Balance as of fiscal 2010 | $ | (11 | ) | $ | (12 | ) | $ | - | $ | (23 | ) | |||||
Other comprehensive loss | (10 | ) | (14 | ) | (8 | ) | (32 | ) | ||||||||
Tax expense (benefit) | - | 5 | 2 | 7 | ||||||||||||
Balance as of fiscal 2011 | $ | (21 | ) | $ | (21 | ) | $ | (6 | ) | $ | (48 | ) | ||||
Other comprehensive income (loss) | 6 | (14 | ) | 4 | (4 | ) | ||||||||||
Tax expense (benefit) | - | 6 | (1 | ) | 5 | |||||||||||
Balance as of fiscal 2012 | $ | (15 | ) | $ | (29 | ) | $ | (3 | ) | $ | (47 | ) | ||||
Other comprehensive income (loss) | (5 | ) | 34 | 20 | 49 | |||||||||||
Tax expense (benefit) | - | (13 | ) | (7 | ) | (20 | ) | |||||||||
Balance as of fiscal 2013 | $ | (20 | ) | $ | (8 | ) | $ | 10 | $ | (18 | ) | |||||
Accrued Rebates | ||||||||||||||||
The Company offers various rebates to customers based on purchases. These rebate programs are individually negotiated with customers and contain a variety of different terms and conditions. Certain rebates are calculated as flat percentages of purchases, while others included tiered volume incentives. These rebates may be payable monthly, quarterly, or annually. The calculation of the accrued rebate balance involves significant management estimates, especially where the terms of the | ||||||||||||||||
rebate involve tiered volume levels that require estimates of expected annual sales. These provisions are based on estimates derived from current program requirements and historical experience. The accrual for customer rebates was $55 million and $68 million at the end of fiscal 2013 and 2012, respectively and is included in Accrued expenses and other current liabilities. | ||||||||||||||||
Pension | ||||||||||||||||
Pension benefit costs include assumptions for the discount rate, retirement age, and expected return on plan assets. Retiree medical plan costs include assumptions for the discount rate, retirement age, and health-care-cost trend rates. Periodically, the Company evaluates the discount rate and the expected return on plan assets in its defined benefit pension and retiree health benefit plans. In evaluating these assumptions, the Company considers many factors, including an evaluation of the discount rates, expected return on plan assets and the health-care-cost trend rates of other companies; historical assumptions compared with actual results; an analysis of current market conditions and asset allocations; and the views of advisers | ||||||||||||||||
Net Income (Loss) Per Share | ||||||||||||||||
The Company calculates basic net income (loss) per share based on the weighted-average number of outstanding common shares. The Company calculates diluted net income (loss) per share based on the weighted-average number of outstanding common shares plus the effect of dilutive securities. | ||||||||||||||||
Use of Estimates | ||||||||||||||||
The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires management to make extensive use of estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of sales and expenses. Actual results could differ materially from these estimates. Changes in estimates are recorded in results of operations in the period that the event or circumstances giving rise to such changes occur. | ||||||||||||||||
Recently Issued Accounting Pronouncements | ||||||||||||||||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02: Comprehensive Income (Topic 220), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("ASU 2013-02"). This guidance requires companies to report, in one place, information about reclassifications out of accumulated other comprehensive income (AOCI). Companies also are required to present reclassifications by component when reporting changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the period, companies must report the effect of the reclassifications on the respective line items in the statement where net income is presented. In certain circumstances, this can be done on the face of that statement. Otherwise, it must be presented in the notes. For items not reclassified to net income in their entirety in the period (e.g., pension amounts that are capitalized in inventory), companies must cross-reference in a note to other required disclosures. The adoption of ASU 2013-02 in fiscal 2013 did have an impact on the Company's consolidated financial statements. | ||||||||||||||||
In July 2013, the FASB issued Accounting Standards Update No. 2013-11: Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force) ("ASU 2013-11"). An entity is required to present unrecognized tax benefits as a decrease in a net operating loss, similar tax loss or tax credit carryforward if certain criteria are met. The determination of whether a deferred tax asset is available is based on the unrecognized tax benefit and the deferred tax asset that exists at the reporting date and presumes disallowance of the tax position at the reporting date. The guidance will eliminate the diversity in practice in the presentation of unrecognized tax benefits but will not alter the way in which entities assess deferred tax assets for realizability. ASU 2013-11 will be effective for the company in fiscal 2014. The Company is currently assessing the impact to the consolidated financial statements. | ||||||||||||||||
Acquisitions
Acquisitions | 12 Months Ended | ||
Sep. 28, 2013 | |||
Acquisitions [Abstract] | ' | ||
Acquisitions | ' | ||
2. Acquisition | |||
Prime Label | |||
In October 2012, the Company acquired 100% of the shares of Prime Label and Screen Incorporated ("Prime Label") for a purchase price of $20 million. Prime Label is a leader in specialty re-sealable labels, including a patented rigid lens closure system. The newly added business is operated in the Company's Flexible Packaging reporting segment. To finance the purchase, the Company used cash on hand and existing credit facilities. The Prime Label acquisition has been accounted for under the purchase method of accounting, and accordingly, the preliminary purchase price has been allocated to the identifiable assets and liabilities based on estimated fair values at the acquisition date. The Company has recognized goodwill on this transaction as a result of expected synergies. A portion of the goodwill will not be deductible for tax purposes. | |||
Stopaq® | |||
In June 2012, the Company acquired 100% of the shares of Frans Nooren Beheer B.V. and its operating companies ("Stopaq") for a purchase price of $65 million ($62 million, net of cash acquired). Stopaq is the inventor and manufacturer of patented visco-elastic technologies for use in corrosion prevention, sealing and insulation applications ranging from pipelines to subsea piles to rail and cable joints. The newly added business is operated in the Company's Engineered Materials reporting segment. To finance the purchase, the Company used cash on hand and existing credit facilities. The Stopaq acquisition has been accounted for under the purchase method of accounting, and accordingly, the purchase price has been allocated to the identifiable assets and liabilities based on estimated fair values at the acquisition date. The Company has recognized goodwill on this transaction as a result of expected synergies. A portion of the goodwill will not be deductible for tax purposes. | |||
Rexam Specialty and Beverage Closures | |||
In September 2011, the Company acquired 100% of the capital stock of Rexam Closures Kentucky Inc., Rexam Delta Inc., Rexam Closures LLC, Rexam Closure Systems LLC, Rexam de Mexico S. de R.L. de C.V., Rexam Singapore PTE Ltd., Rexam Participacoes Ltda. and Rexam Plasticos do Brasil Ltda. (collectively, "Rexam SBC") pursuant to an Equity Purchase Agreement by and among Rexam Inc., Rexam Closures and Containers Inc., Rexam Closure Systems Inc., Rexam Plastic Packaging Inc., Rexam Brazil Closure Inc., Rexam Beverage Can South America S.A. and the Company. The aggregate purchase price was $351 million ($340 million, net of cash acquired). Rexam SBC's primary products include plastic closures, fitments and dispensing closure systems, and jars. The newly added business is operated in the Company's Rigid Closed Top reporting segment. To finance the purchase, the Company used cash on hand and existing credit facilities. The | |||
Rexam SBC acquisition has been accounted for under the purchase method of accounting, and accordingly, the purchase price has been allocated to the identifiable assets and liabilities based on estimated fair values at the acquisition date. | |||
The acquisition was accounted for as a business combination using the purchase method of accounting. The Company has recognized goodwill on this transaction as a result of expected synergies. A portion of the goodwill will not be deductible for tax purposes. The following table summarizes the allocation of purchase price: | |||
Working capital | $ | 80 | |
Property and equipment | 199 | ||
Intangible assets | 43 | ||
Goodwill | 60 | ||
Other long-term liabilities | -31 | ||
Net assets acquired | $ | 351 | |
Pro forma net sales was $4,996 million and unaudited pro forma net loss was $307 million for fiscal 2011. The pro forma net sales and net loss assume that the Rexam SBC acquisition had occurred as of the beginning of the respective periods. | |||
The pro forma information presented above is for informational purposes only and is not necessarily indicative of the operating results that would have occurred had the Rexam SBC acquisition been consummated at the beginning of the respective period, nor is it necessarily indicative of future operating results. Further, the information reflects only pro forma adjustments for additional interest expense, amortization and closing expenses, net of the applicable income tax effects. |
Financial_Instruments_And_Fair
Financial Instruments And Fair Value Measurements | 12 Months Ended | ||||||||||
Sep. 28, 2013 | |||||||||||
Financial Instruments And Fair Value Measurements [Abstract] | ' | ||||||||||
Financial Instruments And Fair Value Measurements | ' | ||||||||||
4. Financial Instruments and Fair Value Measurements | |||||||||||
As part of the overall risk management, the Company uses derivative instruments to reduce exposure to changes in interest rates attributed to the Company's floating-rate borrowings. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. To the extent hedging relationships are found to be effective, as determined by FASB guidance, changes in fair value of the derivatives are offset by changes in the fair value of the related hedged item are recorded to Accumulated other comprehensive loss. Management believes hedge effectiveness is evaluated properly in preparation of the financial statements. | |||||||||||
Cash Flow Hedging Strategy | |||||||||||
For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative instrument is reported as a component of Accumulated other comprehensive loss and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. | |||||||||||
In November 2010, the Company entered into two separate interest rate swap transactions to manage cash flow variability associated with $1 billion of the outstanding variable rate term loan debt (the "2010 Swaps"). The first agreement had a notional amount of $500 million and became effective in November 2010. The agreement swaps three month variable LIBOR contracts for a fixed three year rate of 0.8925% and expires in November 2013. The second agreement had a notional amount of $500 million and became effective in December 2010. The agreement swaps three month variable LIBOR contracts for a fixed three year rate of 1.0235% and expires in November 2013. In August 2011, the Company began utilizing 1-month LIBOR contracts for the underlying senior secured credit facility. The Company's change in interest rate selection caused the Company to lose hedge accounting on both of the interest rate swaps. The Company recorded changes in fair value in the Consolidated Statement of Operations and will amortize the previously recorded unrealized losses of $1 million, net of tax as of fiscal year-end 2013 to Interest expense through the end of the respective swap agreements. | |||||||||||
In February 2013, the Company entered into an interest rate swap transaction to protect $1 billion of outstanding variable rate term loan debt from future interest rate volatility. The agreement swapped the greater of a three-month variable LIBOR contract or 1.00% for a fixed three-year rate of 2.355%, with an effective date in May 2016 and expiration in May 2019. In June 2013, the Company elected to settle this derivative instrument and received $16 million as a result of this settlement. The offset is included in Accumulated other comprehensive loss and Deferred income taxes and will be amortized to Interest expense from May 2016 through May 2019, the original term of the swap agreement. | |||||||||||
Liability Derivatives | |||||||||||
Derivatives not designated as hedging | |||||||||||
instruments under FASB guidance | Balance Sheet Location | 2013 | 2012 | ||||||||
Interest rate swaps – 2010 Swaps | Other long-term liabilities | $ | 1 | $ | 7 | ||||||
The effect of the derivative instruments on the Consolidated Statement of Operations are as follows: | |||||||||||
Derivatives not designated as hedging | |||||||||||
instruments under FASB guidance | Statement of Operations Location | 2013 | 2012 | ||||||||
Interest rate swaps – 2010 Swaps | Other expense (income) | $ | (6 | ) | $ | - | |||||
Interest expense | $ | 4 | $ | 4 | |||||||
The Fair Value Measurements and Disclosures section of the ASC defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework for measuring fair value. This section also establishes a three-level hierarchy (Level 1, 2, or 3) for fair value measurements based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. This section also requires the consideration of the counterparty's or the Company's nonperformance risk when assessing fair value. | |||||||||||
The Company's interest rate swap fair values were determined using Level 2 inputs as other significant observable inputs were not available. | |||||||||||
The Company's financial instruments consist primarily of cash and cash equivalents, long-term debt, interest rate swap agreements and capital lease obligations. The fair value of our long-term indebtedness exceeded book value by $164 million and $195 million as of fiscal 2013 and fiscal 2012, respectively. The Company's long-term debt fair values were determined using Level 2 inputs as other significant observable inputs were not available. | |||||||||||
Redeemable Common Stock | |||||||||||
The Company had entered into agreements with former employees that required the Company to redeem [certain common stock held by such former employees] at pre-determined dates. Redemption of this common stock was based on the fair value of the stock on the fixed redemption date and this redemption was out of the control of the Company. At fiscal year-end 2011 and 2012, this redeemable common stock was recorded at its fair value in temporary equity and changes in the fair value were recorded in additional paid in capital each period. Under the 2006 Equity Incentive Plan, the exercise price for option awards is the fair market value of common stock on the date of grant. Historically, the fair market value of a share of common stock was determined by the Board of Directors by applying industry-appropriate multiples to EBITDA. This valuation took into account a level of net debt that excluded cash required for working capital purposes. The categorization of the framework used to price these liabilities is considered a Level 3, due to the subjective nature of the unobservable inputs used to determine the fair value. Upon completion of the initial public offering, the redemption requirement terminated resulting in the Company reclassifying the shares into equity on the Consolidated Balance Sheets. The fair value as of the end of fiscal 2012 was $23 million. | |||||||||||
Non-recurring Fair Value Measurements | |||||||||||
The Company has certain assets that are measured at fair value on a non-recurring basis under the circumstances and events described in Note 1 and Note 10. The assets are adjusted to fair value only when the carrying values exceed the fair values. The categorization of the framework used to price the assets is considered a Level 3, due to the subjective nature of the unobservable inputs used to determine the fair value (see Note 1 and 10 for additional discussion). | |||||||||||
Included in the following table are the major categories of assets measured at fair value on a non-recurring basis along with the impairment loss recognized on the fair value measurement for the year then ended. | |||||||||||
As of the end of fiscal 2013 | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Quoted Prices in Active | Significant Other | ||||||||||
Markets for Identical | Observable | Significant | |||||||||
Assets or Liabilities | Inputs | Unobservable Inputs | Total | Impairment Loss | |||||||
Indefinite-lived trademarks | $ | - | $ | - | $ | 207 | $ | 207 | $ | - | |
Goodwill | - | - | 1,634 | 1,634 | - | ||||||
Definite lived intangibles | - | - | 649 | 649 | 5 | ||||||
Property, plant, and equipment | - | - | 1,266 | 1,266 | - | ||||||
Total | $ | - | $ | - | $ | 3,756 | $ | 3,756 | $ | 5 | |
As of the end of fiscal 2012 | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Quoted Prices in Active | Significant Other | ||||||||||
Markets for Identical | Observable | Significant | |||||||||
Assets or Liabilities | Inputs | Unobservable Inputs | Total | Impairment Loss | |||||||
Indefinite-lived trademarks | $ | - | $ | - | $ | 220 | $ | 220 | $ | - | |
Goodwill | 1,626 | 1,626 | - | ||||||||
Definite lived intangibles | - | - | 737 | 737 | 17 | ||||||
Property, plant, and equipment | - | - | 1,216 | 1,216 | 3 | ||||||
Total | $ | - | $ | - | $ | 3,799 | $ | 3,799 | $ | 20 | |
As of the end of fiscal 2011 | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Quoted Prices in Active | Significant Other | ||||||||||
Markets for Identical | Observable | Significant | |||||||||
Assets or Liabilities | Inputs | Unobservable Inputs | Total | Impairment Loss | |||||||
Indefinite-lived trademarks | $ | - | $ | - | $ | 220 | $ | 220 | $ | - | |
Goodwill | - | - | 1,595 | 1,595 | 165 | ||||||
Property, plant, and equipment | - | - | 1,250 | 1,250 | 35 | ||||||
Total | $ | - | $ | - | $ | 3,065 | $ | 3,065 | $ | 200 | |
Valuation of Goodwill and Indefinite Lived Intangible Assets | |||||||||||
ASC Topic 350 requires the Company to test goodwill for impairment at least annually. The Company conducts the impairment test on the first day of the fourth fiscal quarter, unless indications of impairment exist during an interim period. When assessing its goodwill for impairment, the Company utilizes a discounted cash flow analysis in combination with a comparable company market approach to determine the fair value of their reporting units and corroborate the fair values. The Company utilizes a relief from royalty method to value their indefinite lived trademarks and uses the forecasts that are consistent with those used in the reporting unit analysis. The Company has five reporting units more fully discussed in Note 1. In fiscal 2013 and fiscal 2012 the Company performed their annual impairment test and determined no impairment existed. In fiscal 2011, the Company recorded a goodwill impairment charge of $165 million in Restructuring and impairment charges on the Consolidated Statement of Operations. The Company did not recognize any impairment charges on the indefinitive lived intangible assets in any of the years presented. | |||||||||||
Valuation of Property, Plant and Equipment and Definite Lived Intangible Assets | |||||||||||
The Company periodically realigns their manufacturing operations which results in facilities being closed and shut down and equipment transferred to other facilities or equipment being scrapped or sold. The Company utilizes appraised values to | |||||||||||
corroborate the fair value of the facilities and has utilized a scrap value based on prior facility shut downs to estimate the fair value of the equipment, which has approximated the actual value that was received. When impairment indicators exist, the Company will also perform an undiscounted cash flow analysis to determine the recoverability of the Company's long-lived assets. The Company did not incur an impairment charge related to property, plant and equipment in fiscal 2013. The Company wrote-down their property, plant, and equipment with a carrying value of $1,219 million to its fair value of $1,216 million, which resulted in an impairment charge of $3 million during fiscal 2012. The Company wrote-down their property, plant, and equipment with a carrying value of $1,285 million to its fair value of $1,250 million, which resulted in an impairment charge of $35 million during fiscal 2011. The Company recognized an impairment charge of $5 million and $17 million on definite long-lived assets related to the decision to exit certain businesses during fiscal 2013 and fiscal 2012, respectively. | |||||||||||
Goodwill_Intangible_Assets_And
Goodwill, Intangible Assets And Deferred Costs | 12 Months Ended | ||||||
Sep. 28, 2013 | |||||||
Goodwill, Intangible Assets And Deferred Costs [Abstract] | ' | ||||||
Goodwill, Intangible Assets And Deferred Costs | ' | ||||||
5. Goodwill, Intangible Assets and Deferred Costs | |||||||
The following table sets forth the gross carrying amount and accumulated amortization of the Company's goodwill, intangible assets and deferred costs as of the fiscal year-end 2013 and 2012: | |||||||
2013 | 2012 | Amortization Period | |||||
Deferred financing fees | $ | 48 | $ | 104 | Respective debt | ||
Accumulated amortization | -18 | -51 | |||||
Deferred financing fees, net | 30 | 53 | |||||
Goodwill | 1,634 | 1,626 | Indefinite lived | ||||
Customer relationships | 1,134 | 1,153 | 11 – 20 years | ||||
Trademarks (indefinite lived) | 207 | 220 | Indefinite lived | ||||
Trademarks (definite lived) | 76 | 69 | 8-15 years | ||||
Other intangibles | 107 | 99 | 10-20 years | ||||
Accumulated amortization | -668 | -584 | |||||
Intangible assets, net | 856 | 957 | |||||
Total goodwill, intangible assets and deferred costs | $ | 2,520 | $ | 2,636 | |||
The Company recorded a goodwill impairment charge in the Engineered Materials and Flexible Packaging segments in fiscal 2011. See Note 1 for further discussion. Future amortization expense for definite lived intangibles as of fiscal 2013 for the next five fiscal years is $96 million, $88 million, $81 million, $69 million and $49 million each year for fiscal years ending 2014, 2015, 2016, 2017, and 2018, respectively. |
Lease_And_Other_Commitments_An
Lease And Other Commitments And Contingencies | 12 Months Ended | |||||
Sep. 28, 2013 | ||||||
Lease And Other Commitments And Contingencies [Abstract] | ' | |||||
Lease And Other Commitments And Contingencies | ' | |||||
6. Lease and Other Commitments and Contingencies | ||||||
The Company leases certain property, plant and equipment under long-term lease agreements. Property, plant, and equipment under capital leases are reflected on the Company's balance sheet as owned. The Company entered into new capital lease obligations totaling $49 million, $7 million, and $29 million during fiscal 2013, 2012, and 2011, respectively, with various lease expiration dates through 2020. The Company records amortization of capital leases in Cost of goods sold in the Consolidated Statement of Operations. Assets under operating leases are not recorded on the Company's balance sheet. Operating leases expire at various dates in the future with certain leases containing renewal options. The Company had minimum lease payments or contingent rentals of $16 million and $15 million and asset retirement obligations of $6 million and $5 million as of fiscal 2013 and 2012, respectively. Total rental expense from operating leases was $53 million, $56 million, and $59 million in fiscal 2013, 2012, and 2011, respectively. | ||||||
Future minimum lease payments for capital leases and noncancellable operating leases with initial terms in excess of one year as of fiscal year-end 2013, are as follows: | ||||||
Capital Leases | Operating Leases | |||||
2014 | $ | 30 | $ | 44 | ||
2015 | 33 | 41 | ||||
2016 | 20 | 39 | ||||
2017 | 12 | 34 | ||||
2018 | 11 | 29 | ||||
Thereafter | 21 | 114 | ||||
127 | $ | 301 | ||||
Less: amount representing interest | -15 | |||||
Present value of net minimum lease payments | $ | 112 | ||||
In September 2012, the Company entered into a sale-leaseback transaction pursuant to which it sold its warehouse facility located in Lawrence , Kansas. The Company received net proceeds of $20 million and resulted in the Company realizing a deferred gain of $1 million which will be offset against the future lease payments over the life of the lease. | ||||||
The Company is party to various legal proceedings involving routine claims which are incidental to its business. Although the Company's legal and financial liability with respect to such proceedings cannot be estimated with certainty, the Company believes that any ultimate liability would not be material to its financial position, results of operations or cash flows. The Company has various purchase commitments for raw materials, supplies and property and equipment incidental to the ordinary conduct of business. | ||||||
At the end of fiscal 2013, the Company employed over 15,000 employees. Approximately 12% of the Company's employees are covered by collective bargaining agreements. One of the ten agreements, covering approximately 30 employees, which was scheduled for renegotiation in fiscal 2013 is still being renegotiated. The remaining agreements expire after fiscal 2013. The Company's relations with employees remain satisfactory and there have been no significant work stoppages or other labor disputes during the past three years. |
Accrued_Expenses_Other_Current
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities | 12 Months Ended | ||||
Sep. 28, 2013 | |||||
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities [Abstract] | ' | ||||
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities | ' | ||||
7. Accrued Expenses, Other Current Liabilities and Other Long-Term Liabilities | |||||
The following table sets forth the totals included in Accrued expenses and other current liabilities as of fiscal year-end 2013 and 2012. | |||||
2013 | 2012 | ||||
Employee compensation, payroll and other taxes | $ | 86 | $ | 95 | |
Interest | 45 | 60 | |||
Rebates | 55 | 68 | |||
TRA obligation | 32 | - | |||
Other | 58 | 77 | |||
$ | 276 | $ | 300 | ||
The following table sets forth the totals included in Other long-term liabilities as of fiscal year-end 2013 and 2012: | |||||
. | |||||
2013 | 2012 | ||||
Lease retirement obligation | $ | 22 | $ | 20 | |
Sale-lease back deferred gain | 32 | 34 | |||
Pension liability | 43 | 84 | |||
TRA obligation | 277 | - | |||
Other | 13 | 28 | |||
$ | 387 | $ | 166 | ||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||
Jun. 29, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
8. Income Taxes | |||||||||
The Company is being taxed at the U.S. corporate level as a C-Corporation and has provided U.S. Federal, State and foreign income taxes. | |||||||||
Significant components of income tax expense (benefit) for the fiscal years ended 2013, 2012 and 2011 are as follows: | |||||||||
2013 | 2012 | 2011 | |||||||
Current | |||||||||
United States | |||||||||
Federal | $ | - | -3 | $ | - | ||||
State | 2 | - | 1 | ||||||
Non-U.S. | 4 | 4 | 3 | ||||||
Current income tax provision | 6 | 1 | 4 | ||||||
Deferred: | |||||||||
United States | |||||||||
Federal | 26 | 3 | -57 | ||||||
State | -3 | -1 | 7 | ||||||
Non-U.S. | -1 | -1 | -1 | ||||||
Deferred income tax expense (benefit) | 22 | 1 | -51 | ||||||
Expense (benefit) for income taxes | $ | 28 | $ | 2 | $ | -47 | |||
U.S. income (loss) from continuing operations before income taxes was $77 million, $2 million, and $(342) million for fiscal 2013, 2012, and 2011, respectively. Non-U.S. income (loss) from continuing operations before income taxes was $8 million, $2 million, and $(4) million for fiscal 2013, 2012, and 2011, respectively. | |||||||||
The reconciliation between U.S. Federal income taxes at the statutory rate and the Company's benefit for income taxes on continuing operations for fiscal 2013, 2012, and 2011 are as follows: | |||||||||
2013 | 2012 | 2011 | |||||||
U.S. Federal income tax expense (benefit) at the statutory rate | $ | 29 | $ | 1 | $ | -121 | |||
Adjustments to reconcile to the income tax provision: | |||||||||
U.S. State income tax expense, net of valuation allowance | -1 | -1 | 8 | ||||||
Impairment of goodwill | - | - | 58 | ||||||
Permanent differences | - | 1 | 1 | ||||||
Transaction costs | - | - | 1 | ||||||
Changes in foreign valuation allowance | 1 | 1 | 3 | ||||||
Rate differences between U.S. and foreign | -2 | 1 | 1 | ||||||
Other | 1 | -1 | 2 | ||||||
Expense (benefit) for income taxes | $ | 28 | $ | 2 | $ | -47 | |||
Deferred income taxes result from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes. The components of the net deferred income tax liability as of fiscal 2013 and 2012 are as follows: | |||||||||
2013 | 2012 | ||||||||
Deferred tax assets: | |||||||||
Allowance for doubtful accounts | $ | 3 | $ | 4 | |||||
Deferred gain on sale-leaseback | 14 | 15 | |||||||
Accrued liabilities and reserves | 34 | 60 | |||||||
Inventories | 9 | 8 | |||||||
Net operating loss carryforward | 343 | 393 | |||||||
Alternative minimum tax (AMT) credit carryforward | 9 | 9 | |||||||
Federal and state tax credits | 14 | ||||||||
Other | 7 | 6 | |||||||
Total deferred tax assets | 433 | 495 | |||||||
Valuation allowance | -59 | -51 | |||||||
Total deferred tax assets, net of valuation allowance | 374 | 444 | |||||||
Deferred tax liabilities: | |||||||||
Property, plant and equipment | 187 | 190 | |||||||
Intangible assets | 300 | 322 | |||||||
Debt extinguishment | 132 | 132 | |||||||
Other | 1 | 1 | |||||||
Total deferred tax liabilities | 620 | 645 | |||||||
Net deferred tax liability | $ | -246 | $ | -201 | |||||
In the United Sates the Company had $824 million of Federal net operating loss carryforwards, which will be available to offset future taxable income. As of fiscal year-end 2013, the Company had foreign net operating loss carryforwards of $117 million, which will be available to offset future taxable income. If not used, the Federal net operating loss carryforwards will expire in future years beginning 2025 through 2031. AMT credit carryforwards totaling $9 million are available to the Company indefinitely to reduce future years' Federal income taxes. The Company has $1 million of Federal Research and Development tax credits that will expire in 2033. | |||||||||
In connection with the initial public offering, the Company entered into an income tax receivable agreement that provides for the payment to pre-initial public offering stockholders, option holders and holders of our stock appreciation rights, 85% of the amount of cash savings, if any, in U.S. federal, foreign, state and local income tax that are actually realized (or are deemed to be realized in the case of a change of control) as a result of the utilization of our and our subsidiaries' net operating losses attributable to periods prior to the initial public offering. The Company expects to pay between $313 million and $360 million in cash related to this agreement. This range is based on the Company's assumptions using various items, including valuation analysis and current tax law. The Company recorded an obligation of $313 million which was recognized as a reduction of Paid-in capital on the Consolidated Balance Sheets. The balance at the end of fiscal 2013 was $308 million. | |||||||||
The Company believes that it will not generate sufficient future taxable income to realize the tax benefits in certain foreign jurisdictions related to the deferred tax assets. The Company also has certain state net operating losses that may expire before they are fully utilized. Therefore, the Company has provided a full valuation allowance against certain of its foreign deferred tax assets and a valuation allowance against certain of its state deferred tax assets included within the deferred tax assets. | |||||||||
Prior changes in ownership have created limitations under Sec. 382 of the internal revenue code on annual usage of net operating loss carryforwards. However, all of the Company's Federal net operating loss carryforwards should be available for use within the next five years. As part of the effective tax rate calculation, if we determine that a deferred tax asset arising from temporary differences is not likely to be utilized, we will establish a valuation allowance against that asset to record it at its expected realizable value. The Company has not provided a valuation allowance on its Federal net operating loss carryforwards in the United States because it has determined that future reversals of its temporary taxable differences will occur in the same periods and are of the same nature as the temporary differences giving rise to the deferred tax assets. Our valuation allowance against deferred tax assets was $59 million and $51 million as of fiscal year-end 2013 and 2012, respectively, related to the foreign and U.S. State operations. The Company paid cash taxes of $3 million, $2 million and $2 million in fiscal 2013, 2012, and 2011, respectively. | |||||||||
Uncertain Tax Positions | |||||||||
We adopted the provisions of the Income Taxes standard of the Codification. This interpretation clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with guidance provide by FASB and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination. Our policy to include interest and penalties related to gross unrecognized tax benefits within our provision for income taxes did not change. | |||||||||
The following table summarizes the activity related to our gross unrecognized tax benefits from year-end fiscal 2012 to year-end fiscal 2013: | |||||||||
2013 | 2012 | ||||||||
Beginning unrecognized tax benefits | $ | 8 | $ | 33 | |||||
Gross increases – tax positions in prior periods | 6 | 2 | |||||||
Gross decreases – tax positions in prior periods | - | -25 | |||||||
Gross increases – current period tax positions | 1 | - | |||||||
Settlements | -1 | - | |||||||
Lapse of statute of limitations | - | -2 | |||||||
Ending unrecognized tax benefits | $ | 14 | $ | 8 | |||||
The amount of unrecognized tax benefits that, if recognized, would affect our effective tax rate was $7 million and $5 million for fiscal year-end 2013 and 2012. | |||||||||
As of fiscal year-end 2013, we had $1 million accrued for payment of interest and penalties related to our uncertain tax positions. Our penalties and interest related to uncertain tax positions are included in income tax expense. | |||||||||
We and our subsidiaries are routinely examined by various taxing authorities. Although we file U.S. Federal, U.S. State, and foreign tax returns, our major tax jurisdiction is the U.S. The IRS has completed an examination of our 2003 tax year. The Company is currently under examination by the IRS for U.S. Federal tax years 2010 and 2011. Our 2004 - 2009 tax years remain subject to examination by the IRS. There are various other on-going audits in various other jurisdictions that are not material to our financial statements. | |||||||||
As of the end of fiscal 2013, we had unremitted earnings from foreign subsidiaries including earnings that have been or are intended to be permanently reinvested for continued use in foreign operations, accordingly, no provision for US Federal or State income taxes has been provided thereon. If distributed, those earnings would result in additional income tax expense at approximately the U.S. statutory rate. Determination of the amount of unrecognized deferred US income tax liability is not practicable due to the complexities associated with its hypothetical calculation . We have identified non U.S. funds from India that are not permanently reinvested and have recognized deferred tax liabilities for additional tax expense that we expect to incur upon repatriation of earnings that are not sourced from previously taxed income. |
Retirement_Plan
Retirement Plan | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Retirement Plan [Abstract] | ' | ||||||||||||
Retirement Plan | ' | ||||||||||||
9. Retirement Plan | |||||||||||||
The Company maintains three defined benefit pension plans which cover certain manufacturing facilities. The Company also maintains a retiree health plan, which covers certain healthcare and life insurance benefits for certain retired employees and their spouses. Each of the three defined benefit plans and the retiree health plan are frozen plans. The Company uses fiscal year-end as a measurement date for the retirement plans. | |||||||||||||
The Company sponsors two defined contribution 401(k) retirement plans covering substantially all employees. Contributions are based upon a fixed dollar amount for employees who participate and percentages of employee contributions at specified thresholds. Contribution expense for these plans was $7 million, $7 million, and $6 million for fiscal 2013, 2012, and 2011, respectively. | |||||||||||||
The Company participates in one multiemployer plan. Contributions to the plan are based on specific percentages of employee compensation and are immaterial. | |||||||||||||
The projected benefit obligations of the Company's plans presented herein are equal to the accumulated benefit obligations of such plans. The tables below exclude the obligations related to the foreign plans. The net liability for foreign plans is $3 million. The net amount of liability recognized is included in Other long-term liabilities on the Consolidated Balance Sheets. | |||||||||||||
Defined Benefit Pension Plans | Retiree Health Plan | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Change in Projected Benefit Obligations (PBO) | |||||||||||||
PBO at beginning of period | $ | 207 | $ | 179 | $ | 3 | $ | 4 | |||||
Service cost | - | - | - | - | |||||||||
Interest cost | 7 | 8 | - | - | |||||||||
Actuarial loss (gain) | (27 | ) | 29 | - | - | ||||||||
Benefits paid | (9 | ) | (9 | ) | (1 | ) | (1 | ) | |||||
PBO at end of period | $ | 178 | $ | 207 | $ | 2 | $ | 3 | |||||
Change in Fair Value of Plan Assets | |||||||||||||
Plan assets at beginning of period | $ | 129 | $ | 109 | $ | - | $ | - | |||||
Actual return on plan assets | 14 | 20 | - | - | |||||||||
Company contributions | 7 | 9 | - | 1 | |||||||||
Benefits paid | (9 | ) | (9 | ) | - | (1 | ) | ||||||
Plan assets at end of period | 141 | 129 | - | - | |||||||||
Net amount recognized | $ | (37 | ) | $ | (78 | ) | $ | (2 | ) | $ | (3 | ) | |
At the end of fiscal 2013 the Company had $20 million of net unrealized losses recorded in Accumulated other comprehensive loss on the Consolidated Balance Sheets. The Company expects $0 to be realized in fiscal 2014. | |||||||||||||
The following table presents significant weighted-average assumptions used to determine benefit obligation and benefit cost for the fiscal years ended: | |||||||||||||
Defined Benefit Pension Plans | Retiree Health Plan | ||||||||||||
(Percents) | 2013 | 2012 | 2013 | 2012 | |||||||||
Weighted-average assumptions: | |||||||||||||
Discount rate for benefit obligation | 4.5 | 3.6 | 3.1 | 2.4 | |||||||||
Discount rate for net benefit cost | 3.6 | 4.4 | 2.4 | 4.5 | |||||||||
Expected return on plan assets for net benefit costs | 8 | 8 | 8 | 8 | |||||||||
In evaluating the expected return on plan assets, Berry considered its historical assumptions compared with actual results, an analysis of current market conditions, asset allocations, and the views of advisors. The return on plan assets is derived from | |||||||||||||
target allocations and historical yield by asset type. Health-care-cost trend rates were assumed to increase at an annual rate of 7.0% in 2013 and thereafter. A one-percentage-point change in these assumed health care cost trend rates would not have a material impact on our postretirement benefit obligation. | |||||||||||||
In accordance with the guidance from the FASB for employers' disclosure about postretirement benefit plan assets the table below discloses fair values of each pension plan asset category and level within the fair value hierarchy in which it falls. There were no material changes or transfers between level 3 assets and the other levels. | |||||||||||||
Fiscal 2013 Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 5 | $ | - | $ | - | $ | 5 | |||||
U.S. large cap comingled equity funds | - | 46 | - | 46 | |||||||||
U.S. mid cap equity mutual funds | 15 | - | - | 15 | |||||||||
U.S. small cap equity mutual funds | 8 | - | - | 8 | |||||||||
International equity mutual funds | 12 | - | - | 12 | |||||||||
Real estate equity investment funds | 4 | - | - | 4 | |||||||||
Corporate bond mutual funds | 33 | - | - | 33 | |||||||||
Corporate bonds | - | 8 | - | 8 | |||||||||
Guaranteed investment account | - | - | 10 | 10 | |||||||||
Other | - | - | - | - | |||||||||
Total | $ | 77 | $ | 54 | $ | 10 | $ | 141 | |||||
Fiscal 2012 Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 4 | $ | - | $ | - | $ | 4 | |||||
U.S. large cap comingled equity funds | - | 40 | - | 40 | |||||||||
U.S. mid cap equity mutual funds | 13 | - | - | 13 | |||||||||
U.S. small cap equity mutual funds | 7 | - | - | 7 | |||||||||
International equity mutual funds | 13 | - | - | 13 | |||||||||
Real estate equity investment funds | 4 | - | - | 4 | |||||||||
Corporate bond mutual funds | 22 | - | - | 22 | |||||||||
Corporate bonds | - | 15 | - | 15 | |||||||||
Guaranteed investment account | - | - | 11 | 11 | |||||||||
Other | - | - | - | - | |||||||||
Total | $ | 63 | $ | 55 | $ | 11 | $ | 129 | |||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid for the fiscal years ending as follows: | |||||||||||||
Defined Benefit | |||||||||||||
Pension Plans | Retiree Health Plan | ||||||||||||
2014 | $ | 9 | $ | - | |||||||||
2015 | 10 | - | |||||||||||
2016 | 10 | - | |||||||||||
2017 | 10 | - | |||||||||||
2018 | 10 | - | |||||||||||
2019-2023 | 54 | 1 | |||||||||||
Net pension and retiree health benefit expense included the following components as of fiscal 2013 and 2012: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Defined Benefit Pension Plans | |||||||||||||
Service cost | $ | - | $ | - | $ | - | |||||||
Interest cost | 7 | 8 | 9 | ||||||||||
Amortization | 3 | 2 | 1 | ||||||||||
Expected return on plan | (10 | ) | (8 | ) | (9 | ) | |||||||
Net periodic benefit cost | $ | - | $ | 2 | $ | 1 | |||||||
Our defined benefit pension plan asset allocations as of fiscal year-end 2013 and 2012 are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Asset Category | |||||||||||||
Equity securities and equity-like | 60 | % | 59 | % | |||||||||
Debt securities and debt-like | 29 | 29 | |||||||||||
Other | 11 | 12 | |||||||||||
Total | 100 | % | 100 | % | |||||||||
The Company's retirement plan assets are invested with the objective of providing the plans the ability to fund current and future benefit payment requirements while minimizing annual Company contributions. The plans' asset allocation strategy reflects a long-term growth strategy with approximately 40-50% allocated to growth investments and 40-50% allocated to fixed income investments and 5-10% in other, including cash. The retirement plans held $1 million of the Company's stock at the end of fiscal 2013. The Company re-addresses the allocation of its investments on a regular basis. | |||||||||||||
Restructuring_And_Impairment_C
Restructuring And Impairment Charges | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Restructuring And Impairment Charges [Abstract] | ' | ||||||||||||
Restructuring And Impairment Charges | ' | ||||||||||||
10. Restructuring and Impairment Charges | |||||||||||||
The Company announced various restructuring plans in the last three fiscal years which included shutting down facilities in all four of the Company's operating segments. | |||||||||||||
During fiscal 2011, the Company announced the intention to shut down two facilities within its Engineered Materials division. The affected business accounted for approximately $106 million of annual net sales with the majority of the operations transferred to other facilities. The Company also announced its intention to shut down a manufacturing location within its Flexible Packaging division. The affected business accounted for approximately $24 million of annual net sales with the majority of the operations transferred to other facilities. The Company also announced its intention to shut down a manufacturing location within its Rigid Closed Top division. The affected business accounted for approximately $14 million of annual net sales with the majority of the operations transferred to other facilities. The Company recorded $35 million of non-cash asset impairment costs in fiscal 2011 related to these restructuring plans and has been reported as Restructuring and impairment charges in the Consolidated Statements of Operations. These impairments were for buildings and equipment that exceeded net realizable value as of the valuation dates. | |||||||||||||
During fiscal 2012, the Company announced the intention to shut down three facilities one each in Rigid Closed Top, Engineered Materials and Flexible Packaging divisions. The affected Rigid Closed Top, Engineered Materials, and Flexible Packaging businesses accounted for approximately $14 million, $71 million, and $24 million of annual net sales, with the majority of the operations transferred to other facilities. During the first fiscal quarter the Company made the decision to exit certain operations in the Engineered Materials division. This decision resulted in non-cash impairment charges of $17 million related to certain customer lists deemed to have no further value and is recorded in Restructuring and impairment charges on the Consolidated Statement of Operations. The exited operations were immaterial to the Company and Engineered Materials segment. | |||||||||||||
During fiscal 2013, the Company made the decision to exit certain operations in the Engineered Materials division. This decision resulted in a non-cash impairment charges of $6 million related to certain intangible assets deemed to have no further value recorded in Restructuring and impairment charges on the Consolidated Statement of Operations. The exited businesses were immaterial to the Company and the Engineered Materials segment. | |||||||||||||
The table below sets forth the Company's estimate of the total cost of the restructuring programs since 2007, the portion recognized through fiscal year-end 2013 and the portion expected to be recognized in a future period: | |||||||||||||
Cumulative charges | To be Recognized in | ||||||||||||
Expected Total Costs | through Fiscal 2013 | Future | |||||||||||
Severance and termination benefits | $ | 39 | $ | 39 | $ | - | |||||||
Facility exit costs | 56 | 53 | 3 | ||||||||||
Asset impairment | 106 | 106 | - | ||||||||||
Other | 4 | 4 | - | ||||||||||
Total | $ | 205 | $ | 202 | $ | 3 | |||||||
The tables below sets forth the significant components of the restructuring charges recognized for the fiscal years ended 2013 2012 and 2011, by segment: | |||||||||||||
Fiscal Year | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Rigid Open Top | |||||||||||||
Severance & termination benefits | $ | 1 | $ | - | $ | 2 | |||||||
Total | $ | 1 | $ | - | $ | 2 | |||||||
Rigid Closed Top | |||||||||||||
Severance & termination benefits | $ | 2 | $ | 3 | $ | 3 | |||||||
Facility exit costs | 1 | 2 | 1 | ||||||||||
Non-cash asset impairment | - | 4 | 4 | ||||||||||
Total | $ | 3 | $ | 9 | $ | 8 | |||||||
Engineered Materials | |||||||||||||
Severance & termination benefits | $ | 2 | $ | 4 | $ | 2 | |||||||
Facility exit costs | 1 | 2 | 7 | ||||||||||
Non-cash asset impairment | 6 | 16 | 22 | ||||||||||
Total | $ | 9 | $ | 22 | $ | 31 | |||||||
Flexible Packaging | |||||||||||||
Severance & termination benefits | $ | - | $ | - | $ | 4 | |||||||
Facility exit costs | 1 | - | 2 | ||||||||||
Non-cash asset impairment | - | - | 9 | ||||||||||
Total | $ | 1 | $ | - | $ | 15 | |||||||
Consolidated | |||||||||||||
Severance & termination benefits | $ | 5 | $ | 7 | $ | 11 | |||||||
Facility exit costs | 3 | 4 | 10 | ||||||||||
Non-cash asset impairment | 6 | 20 | 35 | ||||||||||
Total | $ | 14 | $ | 31 | $ | 56 | |||||||
The table below sets forth the activity with respect to the restructuring accrual as of fiscal 2013 and 2012: | |||||||||||||
Employee | Facility | ||||||||||||
Severance | Exit | Non-cash | |||||||||||
and Benefits | Costs | charges | Total | ||||||||||
Balance as of fiscal 2011 | $ | 4 | $ | 3 | $ | - | $ | 7 | |||||
Charges | 7 | 4 | 20 | 31 | |||||||||
Non-cash asset impairment | - | - | (20 | ) | (20 | ) | |||||||
Cash payments | (7 | ) | (4 | ) | - | (11 | ) | ||||||
Balance as of fiscal 2012 | 4 | 3 | - | 7 | |||||||||
Charges | 5 | 3 | 6 | 14 | |||||||||
Non-cash asset impairment | - | - | (6 | ) | (6 | ) | |||||||
Cash payments | (7 | ) | (4 | ) | - | (11 | ) | ||||||
Balance as of fiscal 2013 | $ | 2 | $ | 2 | $ | - | $ | 4 | |||||
The restructuring costs accrued as of fiscal year-end 2013 will result in future cash outflows, which are not expected to be material. | |||||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Sep. 28, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
11. Related Party Transactions | |
Management Fee | |
Prior to the initial public offering, the Company was charged a management fee by affiliates of Apollo and Graham for the provision of management consulting and advisory services provided throughout the year. The management fee was the greater of $3 million or 1.25% of adjusted EBITDA. The management fees are classified in Selling general and administrative in the Statement of Operations. The management services agreement with Apollo and Graham terminated upon completion of the initial public offering. | |
Total management fees charged by Apollo and Graham were $9 million in fiscal 2012 and 2011. The Company paid $8 million and $6 million to entities affiliated with Apollo and $1 million to entities affiliated with Graham for fiscal 2012 and 2011, respectively. In connection with the Rexam SBC acquisition, Berry management and the sponsors received a transaction fee of $5 million in fiscal 2012. | |
Other Related Party Transactions | |
Certain of our management, stockholders and related parties and its affiliates have independently acquired and held financial debt instruments of the Company. During fiscal 2012, interest expense related to this debt was $2 million. | |
BP Parallel LLC, a non-guarantor subsidiary of the Company, invested $21 million to purchase assignments of $21 million of unsecured term loan during the quarter ended December 29, 2012. Of the $21 million assignments purchased, $14 million were purchased from third parties affiliated with Apollo. | |
In connection with our initial public offering in October 2012, the Company paid a $1 million underwriting fee to Apollo Global Securities, LLC, an affiliate of Apollo that served as a manager of the offering. | |
In connection with the incremental term loan Berry Plastics Corporation entered into in February 2013, the Company paid a $1 million underwriting fee to Apollo Global Securities, LLC, an affiliate of Apollo that served as a manager of the offering. | |
In connection with our secondary offerings in fiscal 2013, the selling stockholders, the Apollo Fund and the Graham Fund, paid $1 million in underwriting fees to Apollo Global Securities, LLC, an affiliate of Apollo that served as a manager of the offerings, reflecting its pro rata portion of the aggregate underwriting fee. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||||||||||
Sep. 28, 2013 | ||||||||||||||
Stockholders' Equity [Abstract] | ' | |||||||||||||
Stockholders' Equity | ' | |||||||||||||
12. Stockholders' Equity | ||||||||||||||
Equity Incentive Plans | ||||||||||||||
In connection with Apollo's acquisition of the Company, we adopted an equity incentive plan pursuant to which options to acquire up to 7,071,337 shares of the Company's common stock may be granted. Prior to fiscal 2011, the plan was amended to allow for an additional 5,267,500 options to be granted. | ||||||||||||||
In connection with the initial public offering, the Company adopted the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan, which authorized the issuance of up to 9,297,750 shares of common stock pursuant to the grant or exercise of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other equity-based awards. | ||||||||||||||
In August 2013, the Company recorded an $8 million stock compensation charge related to certain modifications to the Berry Plastics Group Inc. 2006 Equity Incentive Plan and the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (collectively, the "Plans"). The modifications include (i) accelerated vesting of all unvested options upon an employee's death or termination by the Company by reason of an employee's permanent disability, (ii) in the event of an employee's qualified retirement, continuation of the normal vesting period applicable to the retiree's unvested options, as well as an extension of the exercise period to the end of the original ten-year term of the retiree's vested options and (iii) all unvested options and stock appreciation rights that were subject to performance-based vesting criteria as of January 1, 2013 (excluding certain IRR performance-based options) were modified to time-based vesting. | ||||||||||||||
The Company recognized total stock-based compensation of $16 million, $2 million, and $2 million for fiscal 2013, 2012 and 2011. | ||||||||||||||
The intrinsic value of options exercised or cash settled in fiscal 2013 was $40 million. | ||||||||||||||
Information related to the equity incentive plans as of the fiscal year-end 2013 and 2012 is as follows: | ||||||||||||||
2013 | 2012 | |||||||||||||
Weighted | Weighted | |||||||||||||
Number | Average | Number | Average | |||||||||||
Of | Exercise | Of | Exercise | |||||||||||
Shares | Price | Shares | Price | |||||||||||
Options outstanding, beginning of period | 10,741,090 | $ | 7.76 | 10,826,232 | $ | 7.7 | ||||||||
Options granted | 2,818,700 | 16.01 | 695,898 | 10.57 | ||||||||||
Options exercised or cash settled | (3,333,153 | ) | 7.97 | (175,412 | ) | 7.33 | ||||||||
Options forfeited or cancelled | (191,408 | ) | 10.14 | (605,628 | ) | 7.43 | ||||||||
Options outstanding, end of period | 10,035,229 | $ | 9.96 | 10,741,090 | $ | 7.76 | ||||||||
Option price range at end of period | $ | 3.04-17.59 | $ | 3.04-15.04 | ||||||||||
Options exercisable at end of period | 5,182,027 | 7,327,612 | ||||||||||||
Options available for grant at period end | 8,076,290 | 1,597,240 | ||||||||||||
Weighted average fair value of options granted | $ | 6.15 | $ | 2.71 | ||||||||||
during period | ||||||||||||||
The fair value for options granted has been estimated at the date of grant using a Black-Scholes model, generally with the following weighted average assumptions: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Risk-free interest rate | 0.6 | % | .6 -.9 | % | 1.3 | % | ||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Volatility factor | 0.38 | 0.38 | .32 -.34 | |||||||||||
Expected option life | 7 years | 5 years | 5 years | |||||||||||
The following table summarizes information about the options outstanding as of fiscal 2013: | ||||||||||||||
Range of Exercise | Number | Intrinsic Value | Weighted Remaining | Weighted | Number | Intrinsic Value | Unrecognized | Weighted | ||||||
Prices | Outstanding | of Outstanding | Contractual Life | Exercise Price | Exercisable | of Exercisable | Compensation | Recognition Period | ||||||
$ | 3.04 - $17.59 | 10,035,229 | $ | 106 | 6 years | $ | 9.96 | 5,182,027 | $ | 64 | $ | 15 | 2 years |
Segment_And_Geographic_Data
Segment And Geographic Data | 12 Months Ended | |||||||
Sep. 28, 2013 | ||||||||
Segment and Geographic Data [Abstract] | ' | |||||||
Segment and Geographic Data | ' | |||||||
13. Segment and Geographic Data | ||||||||
Berry's operations are organized into four reportable segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging. The Company has manufacturing and distribution centers in the United States, Canada, Mexico, Belgium, Australia, Germany, Brazil, Malaysia, Netherlands and India. The North American operation represents 96% of the Company's net sales, 98% of total long-lived assets, and 97% of the total assets. Selected information by reportable segment is presented in the following table. | ||||||||
2013 | 2012 | 2011 | ||||||
Net sales | ||||||||
Rigid Open Top | $ | 1,127 | $ | 1,229 | $ | 1,261 | ||
Rigid Closed Top | 1,387 | 1,438 | 1,053 | |||||
Engineered Materials | 1,397 | 1,362 | 1,451 | |||||
Flexible Packaging | 736 | 737 | 796 | |||||
Total | $ | 4,647 | $ | 4,766 | $ | 4,561 | ||
Operating income (loss) | ||||||||
Rigid Open Top | $ | 123 | $ | 159 | $ | 155 | ||
Rigid Closed Top | 130 | 95 | 77 | |||||
Engineered Materials | 116 | 70 | (71 | ) | ||||
Flexible Packaging | 17 | 1 | (119 | ) | ||||
Total | $ | 386 | $ | 325 | $ | 42 | ||
Depreciation and amortization | ||||||||
Rigid Open Top | $ | 90 | $ | 90 | $ | 102 | ||
Rigid Closed Top | 129 | 135 | 95 | |||||
Engineered Materials | 71 | 71 | 72 | |||||
Flexible Packaging | 51 | 59 | 75 | |||||
Total | $ | 341 | $ | 355 | $ | 344 | ||
Total assets | 2013 | 2012 | ||||||
Rigid Open Top | $ | 1,805 | $ | 1,773 | ||||
Rigid Closed Top | 1,964 | 1,959 | ||||||
Engineered Materials | 817 | 873 | ||||||
Flexible Packaging | 549 | 501 | ||||||
$ | 5,135 | $ | 5,106 | |||||
Goodwill | 2013 | 2012 | ||||||
Rigid Open Top | $ | 681 | $ | 681 | ||||
Rigid Closed Top | 831 | 832 | ||||||
Engineered Materials | 73 | 73 | ||||||
Flexible Packaging | 49 | 40 | ||||||
$ | 1,634 | $ | 1,626 | |||||
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 12 Months Ended | |||||||
Sep. 28, 2013 | ||||||||
Net Income (Loss) Per Share [Abstract] | ' | |||||||
Net Income (Loss) Per Share | ' | |||||||
14. Net Income (Loss) Per Share | ||||||||
Basic net income or loss per share is calculated by dividing the net income or loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net income or loss per share is computed by dividing the net income or loss attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method and the if-converted method. For purposes of this calculation, stock options are considered to be common stock equivalents and are only included in the calculation of diluted net income or loss per share when their effect is dilutive. The Company's redeemable common stock is included in the weighted-average number of common shares outstanding for calculating basic and diluted net income or loss per share. | ||||||||
The following tables and discussion provide a reconciliation of the numerator and denominator of the basic and diluted net loss per share computations. The calculation below provides net income or loss on both basic and diluted basis for fiscal 2013, 2012, and 2011 (in thousands). | ||||||||
2013 | 2012 | 2011 | ||||||
Net income (loss) | $ | 57 | $ | 2 | $ | (299 | ) | |
Weighted average shares of common stock outstanding--basic | 113,486 | 83,435 | 84,121 | |||||
Weighted average shares of common stock outstanding | 113,486 | 83,435 | 84,121 | |||||
Other common stock equivalents | 5,968 | 3,209 | - | |||||
Weighted average shares of common stock outstanding--diluted | 119,454 | 86,644 | 84,121 | |||||
Basic net income (loss) per share | ||||||||
Basic net income (loss) per share from continuing operations | $ | 0.5 | $ | 0.02 | $ | (3.55 | ) | |
Basic net income (loss) per share available to common shareholders | $ | 0.5 | $ | 0.02 | $ | (3.55 | ) | |
Diluted net income (loss) per share | ||||||||
Diluted net income (loss) per share from continuing operations | $ | 0.48 | $ | 0.02 | $ | (3.55 | ) | |
Diluted net income (loss) per share available to common shareholders | $ | 0.48 | $ | 0.02 | $ | (3.55 | ) | |
The conversion of stock options is not included in the calculation of diluted net loss per common share as of the end of fiscal 2011 as the effect of these conversions would be antidilutive to the net loss available to common shareholders. Thus, the weighted-average common equivalent shares used for purposed of computing diluted EPS are the same as those used to compute basic EPS for these periods. Shares excluded from the calculation as the effect of their conversion into shares of our common stock would be antidilutive were 10,826,232 as of the end of fiscal 2011. | ||||||||
Guarantor_And_NonGuarantor_Fin
Guarantor And Non-Guarantor Financial Information | 12 Months Ended | ||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ||||||||||||||||||
Guarantor And Non-Guarantor Financial Information | ' | ||||||||||||||||||
15. Guarantor and Non-Guarantor Financial Information | |||||||||||||||||||
Berry Plastics Corporation ("Issuer") has notes outstanding which are fully, jointly, severally, and unconditionally guaranteed by substantially all of Berry's domestic subsidiaries. Separate narrative information or financial statements of the guarantor subsidiaries have not been included because they are 100% owned by the parent company and the guarantor subsidiaries unconditionally guarantee such debt on a joint and several basis. A guarantee of a guarantor of the securities will terminate upon the following customary circumstances: the sale of the capital stock of such guarantor if such sale complies with the indenture, the designation of such guarantor as an unrestricted subsidiary, the defeasance or discharge of the indenture, as a result of the holders of certain other indebtedness foreclosing on a pledge of the shares of a guarantor subsidiary or if such guarantor no longer guarantees certain other indebtedness of the issuer. The guarantees are also limited as necessary to prevent them from constituting a fraudulent conveyance under applicable law and guarantees guaranteeing subordinated debt are subordinated to certain other of the Company's debts. Presented below is condensed consolidating financial information for the parent, issuer, guarantor subsidiaries and non-guarantor subsidiaries. Our issuer and guarantor financial information includes all of our domestic operating subsidiaries, our non-guarantor subsidiaries include our foreign subsidiaries and BP Parallel, LLC. BP Parallel, LLC is the entity that we established to buyback debt securities of Berry Plastics Group, Inc. and Berry Plastics Corporation. Berry Plastics Group, Inc. uses the equity method to account for its ownership in Berry Plastics Corporation in the Condensed Consolidating Supplemental Financial Statements. Berry Plastics Corporation uses the equity method to account for its ownership in the guarantor and non-guarantor subsidiaries. All consolidating entries are included in the eliminations column along with the elimination of intercompany balances. | |||||||||||||||||||
Condensed Supplemental Consolidated Statements of Operations | |||||||||||||||||||
Fiscal 2013 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Net sales | $ | - | $ | 571 | $ | 3,706 | $ | 370 | $ | - | $ | 4,647 | |||||||
Cost of sales | - | 506 | 3,021 | 308 | - | 3,835 | |||||||||||||
Selling, general and administrative expenses | - | 58 | 314 | 40 | - | 412 | |||||||||||||
Restructuring and impairment charges, net | - | 1 | 13 | - | - | 14 | |||||||||||||
Operating income | - | 6 | 358 | 22 | - | 386 | |||||||||||||
Other income | - | 56 | 1 | - | - | 57 | |||||||||||||
Interest expense, net | 47 | 24 | 201 | (120 | ) | 92 | 244 | ||||||||||||
Equity in net income of subsidiaries | (132 | ) | (297 | ) | - | - | 429 | - | |||||||||||
Net income (loss) before income taxes | 85 | 223 | 156 | 142 | (521 | ) | 85 | ||||||||||||
Income tax expense (benefit) | 28 | 80 | - | 2 | (82 | ) | 28 | ||||||||||||
Net income (loss) | $ | 57 | $ | 143 | $ | 156 | $ | 140 | $ | (439 | ) | $ | 57 | ||||||
Currency translation | - | - | - | (5 | ) | - | (5 | ) | |||||||||||
Interest rate hedges | - | 20 | - | - | - | 20 | |||||||||||||
Defined benefit pension and retiree benefit plans | - | 34 | - | - | - | 34 | |||||||||||||
Provision for income taxes related to other | |||||||||||||||||||
comprehensive income items | - | (20 | ) | - | - | - | (20 | ) | |||||||||||
Comprehensive income (loss) | $ | 57 | $ | 177 | $ | 156 | $ | 135 | $ | (439 | ) | $ | 86 | ||||||
Fiscal 2012 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Net sales | $ | - | $ | 579 | $ | 3,829 | $ | 358 | $ | - | $ | 4,766 | |||||||
Cost of sales | - | 520 | 3,151 | 313 | - | 3,984 | |||||||||||||
Selling, general and administrative expenses | - | 62 | 329 | 35 | - | 426 | |||||||||||||
Restructuring and impairment charges, net | - | 1 | 29 | 1 | - | 31 | |||||||||||||
Operating income (loss) | - | (4 | ) | 320 | 9 | - | 325 | ||||||||||||
Other income | - | (7 | ) | - | - | - | (7 | ) | |||||||||||
Interest expense, net | 54 | 39 | 261 | (110 | ) | 84 | 328 | ||||||||||||
Equity in net income of subsidiaries | (58 | ) | (173 | ) | - | - | 231 | - | |||||||||||
Net income (loss) before income taxes | 4 | 137 | 59 | 119 | (315 | ) | 4 | ||||||||||||
Income tax expense (benefit) | 2 | 46 | 1 | 3 | (50 | ) | 2 | ||||||||||||
Net income (loss) | $ | 2 | $ | 91 | $ | 58 | $ | 116 | $ | (265 | ) | $ | 2 | ||||||
Currency translation | - | - | - | 6 | - | 6 | |||||||||||||
Interest rate hedges | - | 4 | - | - | - | 4 | |||||||||||||
Defined benefit pension and retiree benefit plans | - | - | (14 | ) | - | - | (14 | ) | |||||||||||
Provision for income taxes related to other | |||||||||||||||||||
comprehensive income items | - | (1 | ) | 6 | - | - | 5 | ||||||||||||
Comprehensive income (loss) | $ | 2 | $ | 94 | $ | 50 | $ | 122 | $ | (265 | ) | $ | 3 | ||||||
Fiscal 2011 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Net sales | $ | - | $ | 695 | $ | 3,503 | $ | 363 | $ | - | $ | 4,561 | |||||||
Cost of sales | - | 617 | 2,948 | 343 | - | 3,908 | |||||||||||||
Selling, general and administrative expenses | - | 65 | 295 | 30 | - | 390 | |||||||||||||
Restructuring and impairment charges, net | - | 30 | 190 | 1 | - | 221 | |||||||||||||
Operating income (loss) | - | (17 | ) | 70 | (11 | ) | - | 42 | |||||||||||
Other income | - | 62 | (1 | ) | - | - | 61 | ||||||||||||
Interest expense, net | 50 | 49 | 249 | (77 | ) | 56 | 327 | ||||||||||||
Equity in net income of subsidiaries | 296 | 85 | - | - | (381 | ) | - | ||||||||||||
Net income (loss) before income taxes | (346 | ) | (213 | ) | (178 | ) | 66 | 325 | (346 | ) | |||||||||
Income tax expense (benefit) | (47 | ) | 16 | (29 | ) | 2 | 11 | (47 | ) | ||||||||||
Net income (loss) | $ | (299 | ) | $ | (229 | ) | $ | (149 | ) | $ | 64 | $ | 314 | $ | (299 | ) | |||
Currency translation | - | - | - | (10 | ) | - | (10 | ) | |||||||||||
Interest rate hedges | - | (8 | ) | - | - | - | (8 | ) | |||||||||||
Defined benefit pension and retiree benefit plans | - | - | (14 | ) | - | - | (14 | ) | |||||||||||
Provision for income taxes related to other | |||||||||||||||||||
comprehensive income items | - | 2 | 5 | - | - | 7 | |||||||||||||
Comprehensive income (loss) | $ | (299 | ) | $ | (235 | ) | $ | (158 | ) | $ | 54 | $ | 314 | $ | (324 | ) | |||
Condensed Supplemental Consolidated Balance Sheet As of fiscal year-end 2013 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Assets | |||||||||||||||||||
Current assets: | |||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 116 | $ | - | $ | 26 | $ | - | $ | 142 | |||||||
Accounts receivable, net of allowance | - | 5 | 371 | 73 | - | 449 | |||||||||||||
Intercompany receivable | 348 | 3,448 | - | 40 | (3,836 | ) | - | ||||||||||||
Inventories | - | 53 | 482 | 40 | - | 575 | |||||||||||||
Deferred income taxes | 139 | - | - | - | - | 139 | |||||||||||||
Prepaid expenses and other current | - | 12 | 11 | 19 | (10 | ) | 32 | ||||||||||||
Total current assets | 487 | 3,634 | 864 | 198 | (3,846 | ) | 1,337 | ||||||||||||
Property, plant and equipment, net | - | 115 | 1,079 | 72 | - | 1,266 | |||||||||||||
Intangible assets, net | 8 | 139 | 2,275 | 106 | (8 | ) | 2,520 | ||||||||||||
Investment in subsidiaries | 760 | 905 | - | - | (1,665 | ) | - | ||||||||||||
Other assets | - | 10 | 2 | 631 | (631 | ) | 12 | ||||||||||||
Total assets | $ | 1,255 | $ | 4,803 | $ | 4,220 | $ | 1,007 | $ | (6,150 | ) | $ | 5,135 | ||||||
Liabilities and equity | |||||||||||||||||||
Current liabilities: | |||||||||||||||||||
Accounts payable | $ | - | $ | 9 | $ | 262 | $ | 66 | $ | - | $ | 337 | |||||||
Accrued and other current liabilities | 41 | 119 | 112 | 15 | (11 | ) | 276 | ||||||||||||
Intercompany payable | - | - | 3,837 | - | (3,837 | ) | - | ||||||||||||
Long-term debt-current portion | - | 69 | - | 2 | - | 71 | |||||||||||||
Total current liabilities | 41 | 197 | 4,211 | 83 | (3,848 | ) | 684 | ||||||||||||
Long-term debt | 740 | 3,855 | - | 2 | (722 | ) | 3,875 | ||||||||||||
Deferred tax liabilities | 385 | - | - | - | - | 385 | |||||||||||||
Other long-term liabilities | 285 | 64 | 44 | 4 | (10 | ) | 387 | ||||||||||||
Total long-term liabilities | 1,410 | 3,919 | 44 | 6 | (732 | ) | 4,647 | ||||||||||||
Total liabilities | 1,451 | 4,116 | 4,255 | 89 | (4,580 | ) | 5,331 | ||||||||||||
Redeemable shares | - | - | - | - | - | ||||||||||||||
Other equity (deficit) | (196 | ) | 687 | (35 | ) | 918 | (1,570 | ) | (196 | ) | |||||||||
Total equity (deficit) | (196 | ) | 687 | (35 | ) | 918 | (1,570 | ) | (196 | ) | |||||||||
Total liabilities and equity (deficit) | $ | 1,255 | $ | 4,803 | $ | 4,220 | $ | 1,007 | $ | (6,150 | ) | $ | 5,135 | ||||||
Condensed Supplemental Consolidated Balance Sheet As of fiscal year-end 2012 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Assets | |||||||||||||||||||
Current assets: | |||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 66 | $ | - | $ | 21 | $ | - | $ | 87 | |||||||
Accounts receivable, net of allowance | - | 60 | 336 | 59 | - | 455 | |||||||||||||
Intercompany receivable | 243 | 3,800 | 74 | - | (4,117 | ) | - | ||||||||||||
Inventories | - | 83 | 414 | 38 | - | 535 | |||||||||||||
Prepaid expenses and other current | 120 | 17 | 9 | 21 | (11 | ) | 156 | ||||||||||||
Total current assets | 363 | 4,026 | 833 | 139 | (4,128 | ) | 1,233 | ||||||||||||
Property, plant and equipment, net | - | 113 | 1,023 | 80 | - | 1,216 | |||||||||||||
Intangible assets, net | 8 | 184 | 2,343 | 111 | (10 | ) | 2,636 | ||||||||||||
Investment in subsidiaries | 254 | 615 | - | - | (869 | ) | - | ||||||||||||
Other assets | - | 10 | 10 | 638 | (637 | ) | 21 | ||||||||||||
Total assets | $ | 625 | $ | 4,948 | $ | 4,209 | $ | 968 | $ | (5,644 | ) | $ | 5,106 | ||||||
Liabilities and equity | |||||||||||||||||||
Current liabilities: | |||||||||||||||||||
Accounts payable | $ | - | $ | 84 | $ | 195 | $ | 27 | $ | - | $ | 306 | |||||||
Accrued and other current liabilities | 18 | 159 | 120 | 16 | (13 | ) | 300 | ||||||||||||
Intercompany payable | - | - | 3,966 | 151 | (4,117 | ) | - | ||||||||||||
Long-term debt-current portion | - | 35 | - | 5 | - | 40 | |||||||||||||
Total current liabilities | 18 | 278 | 4,281 | 199 | (4,130 | ) | 646 | ||||||||||||
Long-term debt | 736 | 4,542 | - | 3 | (850 | ) | 4,431 | ||||||||||||
Deferred tax liabilities | 315 | - | - | - | - | 315 | |||||||||||||
Other long-term liabilities | 8 | 37 | 119 | 5 | (3 | ) | 166 | ||||||||||||
Total long-term liabilities | 1,059 | 4,579 | 119 | 8 | (853 | ) | 4,912 | ||||||||||||
Total liabilities | 1,077 | 4,857 | 4,400 | 207 | (4,983 | ) | 5,558 | ||||||||||||
Redeemable shares | 23 | - | - | - | 23 | ||||||||||||||
Other equity (deficit) | (475 | ) | 91 | (191 | ) | 761 | (661 | ) | (475 | ) | |||||||||
Total equity (deficit) | (452 | ) | 91 | (191 | ) | 761 | (661 | ) | (452 | ) | |||||||||
Total liabilities and equity (deficit) | $ | 625 | $ | 4,948 | $ | 4,209 | $ | 968 | $ | (5,644 | ) | $ | 5,106 | ||||||
Condensed Supplemental Consolidated Statements of Cash Flows | |||||||||||||||||||
Fiscal 2013 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Cash Flow from Operating Activities | $ | - | $ | (16 | ) | $ | 417 | $ | 63 | $ | - | $ | 464 | ||||||
Cash Flow from Investing Activities | |||||||||||||||||||
Additions to property, plant, and equipment | - | (7 | ) | (218 | ) | (14 | ) | - | (239 | ) | |||||||||
Proceeds from disposal of assets | - | 1 | 17 | - | - | 18 | |||||||||||||
Investment in Parent | - | - | - | (21 | ) | 21 | - | - | |||||||||||
(Contributions) distributions to/from subsidiaries | (462 | ) | 441 | - | - | 21 | - | ||||||||||||
Intercompany advances (repayments) | - | 210 | - | - | (210 | ) | - | ||||||||||||
Investment in Issuer debt securities | - | - | - | - | - | - | |||||||||||||
Acquisition of business net of cash acquired | - | - | (24 | ) | - | - | (24 | ) | |||||||||||
Net cash from investing activities | (462 | ) | 645 | (225 | ) | (35 | ) | (168 | ) | (245 | ) | ||||||||
Cash Flow from Financing Activities | |||||||||||||||||||
Proceeds from long-term debt | - | 1,391 | - | - | - | 1,391 | |||||||||||||
IPO proceeds | 438 | - | - | - | - | 438 | |||||||||||||
Payment of TRA | (5 | ) | (5 | ) | - | - | 5 | (5 | ) | ||||||||||
Proceed from issuance of common stock | 27 | - | - | - | - | 27 | |||||||||||||
Repayment of note receivable | 2 | 2 | - | - | (2 | ) | 2 | ||||||||||||
Repayment of long-term debt | - | (1,955 | ) | - | (2 | ) | (21 | ) | (1,978 | ) | |||||||||
Changes in intercompany balances | - | - | (192 | ) | (15 | ) | 207 | - | |||||||||||
Contribution from Parent | - | - | - | 21 | (21 | ) | - | ||||||||||||
Deferred financing costs | - | (39 | ) | - | - | - | (39 | ) | |||||||||||
Net cash from financing activities | 462 | (606 | ) | (192 | ) | 4 | 168 | (164 | ) | ||||||||||
Net change in cash and cash equivalents | - | 50 | - | 5 | - | 55 | |||||||||||||
Cash and cash equivalents at beginning of period | - | 66 | - | 21 | - | 87 | |||||||||||||
Cash and cash equivalents at end of period | $ | - | $ | 116 | $ | - | $ | 26 | $ | - | $ | 142 | |||||||
Fiscal 2012 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Cash Flow from Operating Activities | $ | - | $ | (22 | ) | $ | 504 | $ | (3 | ) | $ | - | $ | 479 | |||||
Cash Flow from Investing Activities | |||||||||||||||||||
Additions to property, plant, and equipment | - | (9 | ) | (209 | ) | (12 | ) | - | (230 | ) | |||||||||
Proceeds from disposal of assets | - | - | 30 | - | - | 30 | |||||||||||||
Investment in Parent | - | - | - | (4 | ) | 4 | - | - | |||||||||||
(Contributions) distributions to/from subsidiaries | 16 | (20 | ) | - | - | 4 | - | ||||||||||||
Intercompany advances (repayments) | - | 258 | - | - | (258 | ) | - | ||||||||||||
Investment in Issuer debt securities | - | - | - | - | - | - | |||||||||||||
Acquisition of business net of cash acquired | - | - | 7 | (62 | ) | - | (55 | ) | |||||||||||
Net cash from investing activities | 16 | 229 | (172 | ) | (78 | ) | (250 | ) | (255 | ) | |||||||||
Cash Flow from Financing Activities | |||||||||||||||||||
Proceeds from long-term debt | - | - | - | 2 | - | 2 | |||||||||||||
Equity contributions | - | (6 | ) | - | - | - | (6 | ) | |||||||||||
Repayment of long-term debt | (16 | ) | (155 | ) | - | - | (4 | ) | (175 | ) | |||||||||
Changes in intercompany balances | - | - | (337 | ) | 79 | 258 | - | ||||||||||||
Contribution from Parent | - | - | - | 4 | (4 | ) | - | ||||||||||||
Deferred financing costs | - | - | - | - | - | - | |||||||||||||
Net cash from financing activities | (16 | ) | (161 | ) | (337 | ) | 85 | 250 | (179 | ) | |||||||||
Net change in cash and cash equivalents | - | 46 | (5 | ) | 4 | - | 45 | ||||||||||||
Cash and cash equivalents at beginning of period | - | 20 | 5 | 17 | - | 42 | |||||||||||||
Cash and cash equivalents at end of period | $ | - | $ | 66 | $ | - | $ | 21 | $ | - | $ | 87 | |||||||
Fiscal 2011 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Cash Flow from Operating Activities | $ | 2 | $ | 15 | $ | 322 | $ | (11 | ) | $ | (1 | ) | $ | 327 | |||||
Cash Flow from Investing Activities | |||||||||||||||||||
Additions to property, plant, and equipment | - | (16 | ) | (138 | ) | (6 | ) | - | (160 | ) | |||||||||
Proceeds from disposal of assets | - | - | 5 | - | - | 5 | |||||||||||||
Investment in Parent | - | - | - | - | - | - | - | ||||||||||||
(Contributions) distributions to/from subsidiaries | - | (39 | ) | - | - | 39 | - | ||||||||||||
Intercompany advances (repayments) | - | 166 | - | - | (166 | ) | - | ||||||||||||
Investment in Issuer debt securities | - | - | - | (39 | ) | 39 | - | ||||||||||||
Acquisition of business net of cash acquired | - | (368 | ) | - | - | - | (368 | ) | |||||||||||
Net cash from investing activities | - | (257 | ) | (133 | ) | (45 | ) | (88 | ) | (523 | ) | ||||||||
Cash Flow from Financing Activities | |||||||||||||||||||
Proceeds from long-term debt | - | 995 | - | - | - | 995 | |||||||||||||
Equity contributions | (2 | ) | (1 | ) | - | - | 1 | (2 | ) | ||||||||||
Repayment of long-term debt | - | (841 | ) | - | - | (39 | ) | (880 | ) | ||||||||||
Changes in intercompany balances | - | - | (186 | ) | 20 | 166 | - | ||||||||||||
Contribution from Parent | - | - | - | 39 | (39 | ) | - | ||||||||||||
Deferred financing costs | - | (23 | ) | - | - | - | (23 | ) | |||||||||||
Net cash from financing activities | (2 | ) | 130 | (186 | ) | 59 | 89 | 90 | |||||||||||
Net change in cash and cash equivalents | - | (112 | ) | 3 | 3 | - | (106 | ) | |||||||||||
Cash and cash equivalents at beginning of period | - | 132 | 2 | 14 | - | 148 | |||||||||||||
Cash and cash equivalents at end of period | $ | - | $ | 20 | $ | 5 | $ | 17 | $ | - | $ | 42 | |||||||
Quarterly_Financial_Data
Quarterly Financial Data | 12 Months Ended | ||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||
Quarterly Financial Data | ' | ||||||||||||||||||
16. Quarterly Financial Data (Unaudited) | |||||||||||||||||||
The following table contains selected unaudited quarterly financial data for fiscal years 2013 and 2012. | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | ||||||||||||
Net sales | $ | 1,072 | $ | 1,150 | $ | 1,221 | $ | 1,204 | $ | 1,137 | $ | 1,183 | $ | 1,242 | $ | 1,204 | |||
Cost of sales | 895 | 936 | 998 | 1,006 | 972 | 972 | 1,028 | 977 | |||||||||||
Gross profit | 177 | 214 | 223 | 198 | 165 | 211 | 214 | 227 | |||||||||||
Net income (loss) | $ | (10 | ) | $ | 1 | $ | 40 | $ | 26 | $ | (31 | ) | $ | 2 | $ | 9 | $ | 22 |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 28, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
17. Subsequent Events | |
Graphic Packaging | |
On September 30, 2013, the Company acquired Graphic Packaging's flexible plastics and films business ("Graphic") for a purchase price of $62 million. Graphic is a producer of wraps, films, pouches, and bags for the food, medical, industrial, personal care, and pet food markets. The newly acquired business will be operated in the Company's Flexible Packaging Division. To finance the purchase, the Company used cash on hand and existing credit facilities. The Graphic acquisition will be accounted for under the purchase method of accounting, and accordingly, the purchase price will be allocated to the identifiable assets and liabilities based on estimated fair values at the acquisition date. | |
2014 Cost Reduction Plan | |
In November 2013, the Company initiated a cost reduction plan designed to deliver meaningful cost savings and optimal equipment utilization. This plan will result in several plant rationalizations. The costs associated with this plan will primarily consist of one-time costs associated with facility consolidation, including severance and termination benefits for employees of approximately $6 million, other costs associated with exiting facilities of approximately $30 million and non-cash asset impairment charges of approximately $11 million. In addition, as part of this cost reduction plan the Company estimates it will incur capital expenditures of approximately $13 million. Overall these facility restructuring programs are projected to generate approximately $27 million of annual operating savings when fully implemented. These amounts are preliminary estimates based on the information currently available to management. The plan is expected to be fully implemented by the end of fiscal 2014. | |
Basis_Of_Presentation_And_Summ1
Basis Of Presentation And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |||||||||||||||
Sep. 28, 2013 | ||||||||||||||||
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | |||||||||||||||
Initial Public Offering, Stock Split and TRA | ' | |||||||||||||||
Initial Public Offering, Stock Split and TRA | ||||||||||||||||
In October 2012, the Company completed an initial public offering and sold 29,411,764 shares of common stock at a public offering price of $16.00 per share. In conjunction with the initial public offering the Company executed a 12.25 for one stock split of the Company's common stock. The effect of the stock split on outstanding shares and earnings per share has been retroactively applied to all periods presented. Transaction fees totaling $33 million were included in Paid-in capital on the Consolidated Balance Sheets. Proceeds, net of transaction fees, of $438 million and cash from operations were used to repurchase $455 million of 11% Senior Subordinated Notes due September 2016. As part of the repurchase the Company paid premiums of $13 million and wrote-off $3 million of deferred financing fees. | ||||||||||||||||
In connection with the initial public offering, the Company entered into an income tax receivable agreement ("TRA") that provides for the payment to pre-initial public offering stockholders, option holders and holders of our stock appreciation rights, 85% of the amount of cash savings, if any, in U.S. federal, foreign, state and local income tax that are actually realized (or are deemed to be realized in the case of a change of control) as a result of the utilization of our and our subsidiaries' net operating losses attributable to periods prior to the initial public offering. The Company expects to pay between $313 million and $360 million in cash related to this agreement. This range is based on the Company's assumptions using various items, including valuation analysis and current tax law. The Company recorded an obligation of $313 million which was recognized as a reduction of Paid-in capital on the Consolidated Balance Sheets. Changes in the estimated TRA obligation will be recorded as Other expense (income) in the Consolidated Statement of Operations. Payments under the TRA are not conditioned upon the parties' continued ownership of the Company. | ||||||||||||||||
Secondary Public Offerings | ' | |||||||||||||||
Secondary Public Offerings | ||||||||||||||||
In April 2013, we completed a secondary public offering in which certain funds affiliated with Apollo Global Management, LLC ("Apollo") and Graham Partners ("Graham") sold 18,975,000 shares of common stock at $17.00 per share, which included 2,475,000 shares purchased by the underwriters upon the exercise in full of their option to purchase additional shares. The selling stockholders received proceeds from the offering, which, net of underwriting fees, totaled $311 million. The Company received no proceeds and incurred fees of $1 million related to this offering. | ||||||||||||||||
In July 2013, we completed a secondary public offering in which certain funds affiliated with Apollo and Graham sold 17,250,000 shares of common stock at $21.63 per share, which included 2,250,000 shares purchased by the underwriters upon the exercise in full of their option to purchase additional shares. The selling stockholders received proceeds from the offering, which, net of underwriting fees, totaled $360 million. The Company received no proceeds and incurred fees of $1 million related to this offering. | ||||||||||||||||
Basis Of Presentation | ' | |||||||||||||||
Basis of Presentation | ||||||||||||||||
Periods presented in these financial statements include fiscal periods ending September 28, 2013 ("fiscal 2013"), September 29, 2012 ("fiscal 2012"), and October 1, 2011 ("fiscal 2011"). Berry, through its wholly-owned subsidiaries operates in four primary segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging. The Company's customers are located principally throughout the United States, without significant concentration in any one region or with any one customer. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. The Company's fiscal year is based on fifty-two or fifty-three week periods. The Company has evaluated subsequent events through the date the financial statements were issued. | ||||||||||||||||
Reclassification Adjustments | ' | |||||||||||||||
Reclassification Adjustments | ||||||||||||||||
Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. The Company historically presented Other operating expenses in its Consolidated Statements of Operations, which consisted predominately of business optimization costs and management fees to affiliates of Apollo and Graham. The Company has eliminated separate presentation of Other operating expenses from its Consolidated Statements of Operations to better align with the way the Company is reviewing its operating results. The Company incurred business optimization costs of $16 million, $32 million and $31 million in fiscal 2013, fiscal 2012 and fiscal 2011, respectively and are included in Cost of goods sold. The Company recorded management fees of $9 million in fiscal 2012 and fiscal 2011, respectively and are included in Selling, general and administrative expense. The Company's management fee agreement with Apollo and other investors terminated upon completion of the initial public offering. | ||||||||||||||||
Consolidation | ' | |||||||||||||||
Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of Berry and its subsidiaries, all of which includes our wholly owned and majority owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Where our ownership of consolidated subsidiaries is less than 100% the non-controlling interests are reflected in stockholders' equity. | ||||||||||||||||
Revenue Recognition | ' | |||||||||||||||
Revenue Recognition | ||||||||||||||||
Revenue from the sales of products is recognized at the time title and risks and rewards of ownership pass to the customer (either when the products reach the free-on-board shipping point or destination depending on the contractual terms), there is persuasive evidence of an arrangement, the sales price is fixed and determinable and collection is reasonably assured. Provisions for certain rebates, sales incentives, trade promotions, coupons, product returns and discounts to customers are accounted for as reductions in gross sales to arrive at net sales. In accordance with the Revenue Recognition standards of the Accounting Standards Codification ("Codification" or "ASC"), the Company provides for these items as reductions of revenue at the later of the date of the sale or the date the incentive is offered. These provisions are based on estimates derived from current program requirements and historical experience. | ||||||||||||||||
Shipping, handling, purchasing, receiving, inspecting, warehousing, and other costs of distribution are presented in Cost of goods sold in the Consolidated Statements of Operations. The Company classifies amounts charged to its customers for shipping and handling in Net sales in the Consolidated Statements of Operations. | ||||||||||||||||
Vendor Rebates, Purchases Of Raw Materials And Concentration Of Risk | ' | |||||||||||||||
Vendor Rebates, Purchases of Raw Materials and Concentration of Risk | ||||||||||||||||
The Company receives consideration in the form of rebates from certain vendors. The Company accrues these as a reduction of inventory cost as earned under existing programs, and reflects as a reduction of cost of goods sold at the time that the related underlying inventory is sold to customers. | ||||||||||||||||
The largest supplier of the Company's total resin material requirements represented approximately 20% of purchases in fiscal 2013. The Company uses a variety of suppliers to meet its resin requirements. | ||||||||||||||||
Research And Development | ' | |||||||||||||||
Research and Development | ||||||||||||||||
Research and development costs are expensed when incurred. The Company incurred research and development expenditures of $28 million, $25 million, and $20 million in fiscal 2013, 2012, and 2011, respectively. | ||||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||
Stock-Based Compensation | ||||||||||||||||
The compensation guidance of the FASB requires that the compensation cost relating to share-based payment transactions be recognized in financial statements based on alternative fair value models. The share-based compensation cost is measured based on the fair value of the equity or liability instruments issued. The Company's share-based compensation plan is more fully described in Note 12. The Company recorded total stock compensation expense of $16 million, $2 million, and $2 million for fiscal 2013, 2012 and 2011, respectively. | ||||||||||||||||
In August 2013, the Company recorded an $8 million stock compensation charge related to certain modifications to the Berry Plastics Group Inc. 2006 Equity Incentive Plan and the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (collectively, the "Plans"), and amended outstanding non-qualified stock option agreements to reflect such modifications. The modifications, include (i) accelerated vesting of all unvested options upon an employee's death or permanent disability (ii) in the event of an employee's qualified retirement, continuation of the normal vesting period applicable to the retiree's unvested options, as well as an extension of the exercise period to the end of the original ten-year term of the retiree's vested options and (iii) all unvested options and stock appreciation rights that were subject to performance-based vesting criteria as of January 1, 2013 (excluding certain IRR performance-based options) were modified to time-based vesting. | ||||||||||||||||
The Company utilizes the Black-Scholes option valuation model for estimating the fair value of the stock options. The model allows for the use of a range of assumptions. Expected volatilities utilized in the Black-Scholes model are based on implied volatilities from traded stocks of peer companies. Similarly, the dividend yield is based on historical experience and the estimate of future dividend yields. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The Company's options have a ten year contractual life. For purposes of the valuation model in fiscal 2013, the Company used the simplified method for determining the granted options expected lives. The fair value for options granted has been estimated at the date of grant using a Black-Scholes model, with the following weighted average assumptions: | ||||||||||||||||
Fiscal year | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Risk-free interest rate | 0.6 | % | 0.6 - 0.9 | % | 1.3 | % | ||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||||
Volatility factor | 0.38 | 0.38 | .32-.34 | |||||||||||||
Expected option life | 7 years | 5 years | 5 years | |||||||||||||
Foreign Currency | ' | |||||||||||||||
Foreign Currency | ||||||||||||||||
For the non-U.S. subsidiaries that account in a functional currency other than U.S. Dollars, assets and liabilities are translated into U.S. Dollars using period-end exchange rates. Sales and expenses are translated at the average exchange rates in effect during the period. Foreign currency translation gains and losses are included as a component of Accumulated other comprehensive income (loss) within stockholders' equity. Gains and losses resulting from foreign currency transactions, the amounts of which are not material in any period presented are included in the Consolidated Statements of Operations. | ||||||||||||||||
Cash And Cash Equivalents | ' | |||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
All highly liquid investments purchased with a maturity of three months or less from the time of purchase are considered to be cash equivalents. | ||||||||||||||||
Allowance For Doubtful Accounts | ' | |||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||
The Company's accounts receivable and related allowance for doubtful accounts are analyzed in detail on a quarterly basis and all significant customers with delinquent balances are reviewed to determine future collectibility. The determinations are based on legal issues (such as bankruptcy status), past history, current financial and credit agency reports, and the experience of the credit representatives. Reserves are established in the quarter in which the Company makes the determination that the account is deemed uncollectible. The Company maintains additional reserves based on its historical bad debt experience. The following table summarizes the activity for fiscal 2013, 2012 and 2011 for the allowance for doubtful accounts: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Allowance for doubtful accounts, beginning | $ | 3 | $ | 4 | $ | 4 | ||||||||||
Bad debt expense | 1 | 1 | 1 | |||||||||||||
Write-offs against allowance | (1 | ) | (2 | ) | (1 | ) | ||||||||||
Allowance for doubtful accounts, ending | $ | 3 | $ | 3 | $ | 4 | ||||||||||
Inventories | ' | |||||||||||||||
Inventories are stated at the lower of cost or market and are valued using the first-in, first-out method. Management periodically reviews inventory balances, using recent and future expected sales to identify slow-moving and/or obsolete items. The cost of spare parts inventory is charged to manufacturing overhead expense when incurred. We evaluate our reserve for inventory obsolescence on a quarterly basis and review inventory on-hand to determine future salability. We base our determinations on the age of the inventory and the experience of our personnel. We reserve inventory that we deem to be not salable in the quarter in which we make the determination. We believe, based on past history and our policies and procedures, that our net inventory is salable. Inventory as of fiscal 2013 and 2012 was: | ||||||||||||||||
Inventories: | 2013 | 2012 | ||||||||||||||
Finished goods | $ | 335 | $ | 306 | ||||||||||||
Raw materials | 240 | 229 | ||||||||||||||
$ | 575 | $ | 535 | |||||||||||||
Property, Plant And Equipment | ' | |||||||||||||||
Property, Plant and Equipment | ||||||||||||||||
Property, plant and equipment are stated at cost. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets ranging from 15 to 25 years for buildings and improvements two to 10 years for machinery, equipment, and tooling and over the term of the agreement for capital. Leasehold improvements are depreciated over the shorter of the useful life of the improvement or the lease term. Repairs and maintenance costs are charged to expense as incurred. The Company capitalized interest of $5 million, $5 million, and $3 million in fiscal 2013, 2012, and 2011, respectively. Property, plant and equipment as of fiscal 2013 and 2012 was: | ||||||||||||||||
Property, plant and equipment: | 2013 | 2012 | ||||||||||||||
Land, buildings and improvements | $ | 302 | $ | 281 | ||||||||||||
Equipment and construction in progress | 2,241 | 2,019 | ||||||||||||||
2,543 | 2,300 | |||||||||||||||
Less accumulated depreciation | (1,277 | ) | (1,084 | ) | ||||||||||||
$ | 1,266 | $ | 1,216 | |||||||||||||
Long-Lived Assets | ' | |||||||||||||||
Long-lived Assets | ||||||||||||||||
Long-lived assets, including property, plant and equipment and definite lived intangible assets are reviewed for impairment at the product line level in accordance with the Property, Plant and Equipment standard of the ASC whenever facts and circumstances indicate that the carrying amount may not be recoverable. Specifically, this process involves comparing an asset's carrying value to the estimated undiscounted future cash flows the asset is expected to generate over its remaining life. If this process were to result in the conclusion that the carrying value of a long-lived asset would not be recoverable, a write-down of the asset to fair value would be recorded through a charge to operations. Fair value is determined based upon discounted cash flows or appraisals as appropriate. Long-lived assets that are held for sale are reported at the lower of the assets' carrying amount or fair value less costs related to the assets' disposition. We recorded impairment charges totaling $5 million, $20 million, and $35 million to write-down long-lived assets to their net realizable valuables during fiscal years 2013, 2012, and 2011 respectively. | ||||||||||||||||
Goodwill | ' | |||||||||||||||
The Company follows the principles provided by the Goodwill and Other Intangibles standard of the ASC. Goodwill is not amortized but rather tested annually for impairment. The Company performs their annual impairment test on the first day of the fourth quarter in each respective fiscal year. For purposes of conducting our annual goodwill impairment test, the Company determined that we have five reporting units, Open Top, Rigid Closed Top, Engineered Films, Flexible Packaging and Tapes. Tapes and Engineered Films comprise the Engineered Materials operating segment. We determined that each of the components within our respective reporting units have similar economic characteristics and therefore should be aggregated. We reached this conclusion because within each of our reporting units, we have similar products and production processes which allow us to share assets and resources across the product lines. We regularly re-align our production equipment and manufacturing facilities in order to take advantage of cost savings opportunities, obtain synergies and create manufacturing efficiencies. In addition, we utilize our research and development centers, design center, tool shops, and graphics center which all provide benefits to each of the reporting units and work on new products that can not only benefit one product line, but can benefit multiple product lines. We also believe that the goodwill is recoverable from the overall operations of the unit given the similarity in production processes, synergies from leveraging the combined resources, common raw materials, common research and development, similar margins and similar distribution methodologies. In fiscal 2013, the Company applied the quantitative assessment to determine whether it is more likely than not that the fair value of the reporting unit may be less than the carrying amount. Based on our review of prior quantitative tests, changes in the carrying values, operating results, relevant market data and other factors we determined that no impairment is indicated and we did not perform a two-step impairment test. In fiscal 2012, we completed step 1 of the impairment test which indicated no impairment in any of our reporting units. In fiscal 2011 the Company completed the annual impairment and determined the carrying value of the Specialty Films division, which is now included in the Engineered Materials and Flexible Packaging exceeded its fair value. The Company performed the second step of its evaluation to calculate the impairment and as a result recorded a goodwill impairment charge of $165 million in Restructuring and impairment charges on the Consolidated Statement of Operations. This impairment was primarily the result of a base volume decline of 11% in our Engineered Materials and Flexible Packaging segments. This base volume decline of 11% occurred because of a pricing strategy that we | ||||||||||||||||
implemented in the second fiscal quarter of 2011. The $165 million impairment charge incurred in fiscal 2011 is the Company's only goodwill impairment charge. | ||||||||||||||||
The changes in the carrying amount of goodwill by reportable segment are as follows: | ||||||||||||||||
Rigid Open | Rigid Closed | Engineered | Flexible | |||||||||||||
Top | Top | Materials | Packaging | Total | ||||||||||||
Balance as of fiscal 2011 | $ | 681 | $ | 819 | $ | 55 | $ | 40 | $ | 1,595 | ||||||
Foreign currency translation adjustment | - | 2 | - | - | 2 | |||||||||||
Acquisitions(divestitures) goodwill, net | - | 11 | 18 | - | 29 | |||||||||||
Balance as of fiscal 2012 | $ | 681 | $ | 832 | $ | 73 | $ | 40 | $ | 1,626 | ||||||
Foreign currency translation adjustment | - | (1 | ) | 1 | - | - | ||||||||||
Acquisitions(divestitures) goodwill, net | - | - | (1 | ) | 9 | 8 | ||||||||||
Balance as of fiscal 2013 | $ | 681 | $ | 831 | $ | 73 | $ | 49 | $ | 1,634 | ||||||
Deferred Financing Fees | ' | |||||||||||||||
Deferred Financing Fees | ||||||||||||||||
Deferred financing fees are being amortized to interest expense using the effective interest method over the lives of the respective debt agreements. | ||||||||||||||||
Intangible Assets | ' | |||||||||||||||
Intangible Assets | ||||||||||||||||
Customer relationships are being amortized using an accelerated amortization method which corresponds with the customer attrition rates used in the initial valuation of the intangibles over the estimated life of the relationships which range from 11 to 20 years. Trademarks that are expected to remain in use, which are indefinite lived intangible assets, are required to be reviewed for impairment annually. Technology intangibles are being amortized using the straight-line method over the estimated life of the technology which is 11 years. License intangibles are being amortized using the straight-line method over the life of the license which is 10 years. Patent intangibles are being amortized using the straight-line method over the shorter of the estimated life of the technology or the patent expiration date ranging from 10 to 20 years, with a weighted-average life of 15 years. The Company evaluates the remaining useful life of intangible assets on a periodic basis to determine whether events and circumstances warrant a revision to the remaining useful life. We completed the annual impairment test of our indefinite lived tradenames and noted no impairment. As discussed in Note 10, the Company recorded a $5 million and $17 million impairment charge related to the exit of certain operations in fiscal 2013 and fiscal 2012, respectively. | ||||||||||||||||
Customer | Other | Accumulated | ||||||||||||||
Relationships | Trademarks | Intangibles | Amortization | Total | ||||||||||||
Balance as of fiscal 2011 | $ | 1,178 | $ | 286 | $ | 82 | $ | (502 | ) | $ | 1,044 | |||||
Adjustment for income taxes | - | - | (4 | ) | - | (4 | ) | |||||||||
Write-off of fully amortized intangibles | - | - | (7 | ) | 7 | - | ||||||||||
Amortization expense | - | - | - | (109 | ) | (109 | ) | |||||||||
Impairment of intangibles | (37 | ) | - | - | 20 | (17 | ) | |||||||||
Acquisition intangibles | 12 | 3 | 28 | - | 43 | |||||||||||
Balance as of fiscal 2012 | $ | 1,153 | $ | 289 | $ | 99 | $ | (584 | ) | $ | 957 | |||||
Adjustment for income taxes | (7 | ) | (1 | ) | 5 | (2 | ) | (5 | ) | |||||||
Foreign currency translation adjustment | - | - | 2 | - | 2 | |||||||||||
Write-off of fully amortized intangibles | - | (5 | ) | (1 | ) | 6 | - | |||||||||
Amortization expense | - | - | - | (105 | ) | (105 | ) | |||||||||
Impairment of intangibles | (21 | ) | (1 | ) | - | 17 | (5 | ) | ||||||||
Acquisition intangibles | 9 | 1 | 2 | - | 12 | |||||||||||
Balance as of fiscal 2013 | $ | 1,134 | $ | 283 | $ | 107 | $ | (668 | ) | $ | 856 | |||||
Insurable Liabilities | ' | |||||||||||||||
Insurable Liabilities | ||||||||||||||||
The Company records liabilities for the self-insured portion of workers' compensation, health, product, general and auto liabilities. The determination of these liabilities and related expenses is dependent on claims experience. For most of these liabilities, claims incurred but not yet reported are estimated by utilizing actuarial valuations based upon historical claims experience. | ||||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
The Company accounts for income taxes under the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequence of events that have been recognized in the Company's financial statements or income tax returns. Income taxes are recognized during the period in which the underlying transactions are recorded. Deferred taxes, with the exception of non-deductible goodwill, are provided for temporary differences between amounts of assets and liabilities as recorded for financial reporting purposes and such amounts as measured by tax laws. If the Company determines that a deferred tax asset arising from temporary differences is not likely to be utilized, the Company will establish a valuation allowance against that asset to record it at its expected realizable value. The Company recognizes uncertain tax positions when it is more likely than not that the tax position will be sustained upon examination by relevant taxing authorities, based on the technical merits of the position. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company's effective tax rate is dependent on many factors including: the impact of enacted tax laws in jurisdictions in which the Company operates; the amount of earnings by jurisdiction, due to varying tax rates in each country; and the Company's ability to utilize foreign tax credits related to foreign taxes paid on foreign earnings that will be remitted to the United States. | ||||||||||||||||
Comprehensive Loss | ' | |||||||||||||||
Comprehensive Income (Loss) | ||||||||||||||||
Comprehensive income (loss) is comprised of net income (loss) and other comprehensive income (loss). Other comprehensive losses include net unrealized gains or losses resulting from currency translations of foreign subsidiaries, changes in the value of our derivative instruments and adjustments to the pension liability. | ||||||||||||||||
The accumulated balances related to each component of other comprehensive income (loss) were as follows (amounts below are net of taxes): | ||||||||||||||||
Defined Benefit | ||||||||||||||||
Currency | Pension and Retiree | Interest Rate | Accumulated Other | |||||||||||||
Translation | Health Benefit Plans | Hedges | Comprehensive Loss | |||||||||||||
Balance as of fiscal 2010 | $ | (11 | ) | $ | (12 | ) | $ | - | $ | (23 | ) | |||||
Other comprehensive loss | (10 | ) | (14 | ) | (8 | ) | (32 | ) | ||||||||
Tax expense (benefit) | - | 5 | 2 | 7 | ||||||||||||
Balance as of fiscal 2011 | $ | (21 | ) | $ | (21 | ) | $ | (6 | ) | $ | (48 | ) | ||||
Other comprehensive income (loss) | 6 | (14 | ) | 4 | (4 | ) | ||||||||||
Tax expense (benefit) | - | 6 | (1 | ) | 5 | |||||||||||
Balance as of fiscal 2012 | $ | (15 | ) | $ | (29 | ) | $ | (3 | ) | $ | (47 | ) | ||||
Other comprehensive income (loss) | (5 | ) | 34 | 20 | 49 | |||||||||||
Tax expense (benefit) | - | (13 | ) | (7 | ) | (20 | ) | |||||||||
Balance as of fiscal 2013 | $ | (20 | ) | $ | (8 | ) | $ | 10 | $ | (18 | ) | |||||
Accrued Rebates | ' | |||||||||||||||
Accrued Rebates | ||||||||||||||||
The Company offers various rebates to customers based on purchases. These rebate programs are individually negotiated with customers and contain a variety of different terms and conditions. Certain rebates are calculated as flat percentages of purchases, while others included tiered volume incentives. These rebates may be payable monthly, quarterly, or annually. The calculation of the accrued rebate balance involves significant management estimates, especially where the terms of the | ||||||||||||||||
rebate involve tiered volume levels that require estimates of expected annual sales. These provisions are based on estimates derived from current program requirements and historical experience. The accrual for customer rebates was $55 million and $68 million at the end of fiscal 2013 and 2012, respectively and is included in Accrued expenses and other current liabilities. | ||||||||||||||||
Pension | ' | |||||||||||||||
Pension | ||||||||||||||||
Pension benefit costs include assumptions for the discount rate, retirement age, and expected return on plan assets. Retiree medical plan costs include assumptions for the discount rate, retirement age, and health-care-cost trend rates. Periodically, the Company evaluates the discount rate and the expected return on plan assets in its defined benefit pension and retiree health benefit plans. In evaluating these assumptions, the Company considers many factors, including an evaluation of the discount rates, expected return on plan assets and the health-care-cost trend rates of other companies; historical assumptions compared with actual results; an analysis of current market conditions and asset allocations; and the views of advisers | ||||||||||||||||
Net Income (Loss) Per Share | ' | |||||||||||||||
Net Income (Loss) Per Share | ||||||||||||||||
The Company calculates basic net income (loss) per share based on the weighted-average number of outstanding common shares. The Company calculates diluted net income (loss) per share based on the weighted-average number of outstanding common shares plus the effect of dilutive securities. | ||||||||||||||||
Use Of Estimates | ' | |||||||||||||||
Use of Estimates | ||||||||||||||||
The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires management to make extensive use of estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of sales and expenses. Actual results could differ materially from these estimates. Changes in estimates are recorded in results of operations in the period that the event or circumstances giving rise to such changes occur. | ||||||||||||||||
Basis_Of_Presentation_And_Summ2
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Sep. 28, 2013 | ||||||||||||||||
Schedule Of Assumptions Used For Options Granted | ' | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Risk-free interest rate | 0.6 | % | .6 -.9 | % | 1.3 | % | ||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||||
Volatility factor | 0.38 | 0.38 | .32 -.34 | |||||||||||||
Expected option life | 7 years | 5 years | 5 years | |||||||||||||
Activity For Allowance For Doubtful Accounts | ' | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Allowance for doubtful accounts, beginning | $ | 3 | $ | 4 | $ | 4 | ||||||||||
Bad debt expense | 1 | 1 | 1 | |||||||||||||
Write-offs against allowance | (1 | ) | (2 | ) | (1 | ) | ||||||||||
Allowance for doubtful accounts, ending | $ | 3 | $ | 3 | $ | 4 | ||||||||||
Schedule Of Inventory | ' | |||||||||||||||
Inventories: | 2013 | 2012 | ||||||||||||||
Finished goods | $ | 335 | $ | 306 | ||||||||||||
Raw materials | 240 | 229 | ||||||||||||||
$ | 575 | $ | 535 | |||||||||||||
Schedule Of Property, Plant And Equipment | ' | |||||||||||||||
Property, plant and equipment: | 2013 | 2012 | ||||||||||||||
Land, buildings and improvements | $ | 302 | $ | 281 | ||||||||||||
Equipment and construction in progress | 2,241 | 2,019 | ||||||||||||||
2,543 | 2,300 | |||||||||||||||
Less accumulated depreciation | (1,277 | ) | (1,084 | ) | ||||||||||||
$ | 1,266 | $ | 1,216 | |||||||||||||
Changes In The Carrying Amount Of Goodwill | ' | |||||||||||||||
Rigid Open | Rigid Closed | Engineered | Flexible | |||||||||||||
Top | Top | Materials | Packaging | Total | ||||||||||||
Balance as of fiscal 2011 | $ | 681 | $ | 819 | $ | 55 | $ | 40 | $ | 1,595 | ||||||
Foreign currency translation adjustment | - | 2 | - | - | 2 | |||||||||||
Acquisitions(divestitures) goodwill, net | - | 11 | 18 | - | 29 | |||||||||||
Balance as of fiscal 2012 | $ | 681 | $ | 832 | $ | 73 | $ | 40 | $ | 1,626 | ||||||
Foreign currency translation adjustment | - | (1 | ) | 1 | - | - | ||||||||||
Acquisitions(divestitures) goodwill, net | - | - | (1 | ) | 9 | 8 | ||||||||||
Balance as of fiscal 2013 | $ | 681 | $ | 831 | $ | 73 | $ | 49 | $ | 1,634 | ||||||
Schedule Of Intangible Assets | ' | |||||||||||||||
Customer | Other | Accumulated | ||||||||||||||
Relationships | Trademarks | Intangibles | Amortization | Total | ||||||||||||
Balance as of fiscal 2011 | $ | 1,178 | $ | 286 | $ | 82 | $ | (502 | ) | $ | 1,044 | |||||
Adjustment for income taxes | - | - | (4 | ) | - | (4 | ) | |||||||||
Write-off of fully amortized intangibles | - | - | (7 | ) | 7 | - | ||||||||||
Amortization expense | - | - | - | (109 | ) | (109 | ) | |||||||||
Impairment of intangibles | (37 | ) | - | - | 20 | (17 | ) | |||||||||
Acquisition intangibles | 12 | 3 | 28 | - | 43 | |||||||||||
Balance as of fiscal 2012 | $ | 1,153 | $ | 289 | $ | 99 | $ | (584 | ) | $ | 957 | |||||
Adjustment for income taxes | (7 | ) | (1 | ) | 5 | (2 | ) | (5 | ) | |||||||
Foreign currency translation adjustment | - | - | 2 | - | 2 | |||||||||||
Write-off of fully amortized intangibles | - | (5 | ) | (1 | ) | 6 | - | |||||||||
Amortization expense | - | - | - | (105 | ) | (105 | ) | |||||||||
Impairment of intangibles | (21 | ) | (1 | ) | - | 17 | (5 | ) | ||||||||
Acquisition intangibles | 9 | 1 | 2 | - | 12 | |||||||||||
Balance as of fiscal 2013 | $ | 1,134 | $ | 283 | $ | 107 | $ | (668 | ) | $ | 856 | |||||
Schedule Of Other Comprehensive Income (Loss) | ' | |||||||||||||||
Defined Benefit | ||||||||||||||||
Currency | Pension and Retiree | Interest Rate | Accumulated Other | |||||||||||||
Translation | Health Benefit Plans | Hedges | Comprehensive Loss | |||||||||||||
Balance as of fiscal 2010 | $ | (11 | ) | $ | (12 | ) | $ | - | $ | (23 | ) | |||||
Other comprehensive loss | (10 | ) | (14 | ) | (8 | ) | (32 | ) | ||||||||
Tax expense (benefit) | - | 5 | 2 | 7 | ||||||||||||
Balance as of fiscal 2011 | $ | (21 | ) | $ | (21 | ) | $ | (6 | ) | $ | (48 | ) | ||||
Other comprehensive income (loss) | 6 | (14 | ) | 4 | (4 | ) | ||||||||||
Tax expense (benefit) | - | 6 | (1 | ) | 5 | |||||||||||
Balance as of fiscal 2012 | $ | (15 | ) | $ | (29 | ) | $ | (3 | ) | $ | (47 | ) | ||||
Other comprehensive income (loss) | (5 | ) | 34 | 20 | 49 | |||||||||||
Tax expense (benefit) | - | (13 | ) | (7 | ) | (20 | ) | |||||||||
Balance as of fiscal 2013 | $ | (20 | ) | $ | (8 | ) | $ | 10 | $ | (18 | ) | |||||
Parent Company [Member] | ' | |||||||||||||||
Schedule Of Assumptions Used For Options Granted | ' | |||||||||||||||
Fiscal year | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Risk-free interest rate | 0.6 | % | 0.6 - 0.9 | % | 1.3 | % | ||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||||
Volatility factor | 0.38 | 0.38 | .32-.34 | |||||||||||||
Expected option life | 7 years | 5 years | 5 years |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||
Sep. 28, 2013 | |||
Acquisitions [Abstract] | ' | ||
Schedule Of Preliminary Allocation Of Purchase Price | ' | ||
Working capital | $ | 80 | |
Property and equipment | 199 | ||
Intangible assets | 43 | ||
Goodwill | 60 | ||
Other long-term liabilities | -31 | ||
Net assets acquired | $ | 351 |
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Long-Term Debt [Abstract] | ' | ||||||||
Summary Of Long-Term Debt | ' | ||||||||
Maturity Date | 2013 | 2012 | |||||||
Term loan | Apr-15 | $ | 1,125 | $ | 1,134 | ||||
Term loan | Feb-20 | 1,397 | - | ||||||
Revolving line of credit | Jun-16 | - | 73 | ||||||
9¾% Second Priority Notes | Jan-21 | 800 | 800 | ||||||
91/2% Second Priority Notes | May-18 | 500 | 500 | ||||||
Senior Unsecured Term Loan | Jun-14 | 18 | 39 | ||||||
First Priority Senior Secured Floating Rate Notes | Feb-15 | - | 681 | ||||||
8¼% First Priority Notes | Nov-15 | - | 370 | ||||||
Second Priority Senior Secured Floating Rate Notes | Sep-14 | - | 210 | ||||||
10¼% Senior Subordinated Notes | Mar-16 | - | 127 | ||||||
11% Senior Subordinated Notes | Sep-16 | - | 455 | ||||||
Debt discount, net | -8 | -9 | |||||||
Capital leases and other | Various | 114 | 91 | ||||||
3,946 | 4,471 | ||||||||
Less current portion of long-term debt | -71 | -40 | |||||||
$ | 3,875 | $ | 4,431 | ||||||
Future Maturities Of Long-Term Debt | ' | ||||||||
Fiscal Year | Maturities | ||||||||
2014 | $ 71 | ||||||||
2015 | 1,156 | ||||||||
2016 | 32 | ||||||||
2017 | 24 | ||||||||
2018 | 524 | ||||||||
Thereafter | 2,147 | ||||||||
$3,954 | |||||||||
Financial_Instruments_And_Fair1
Financial Instruments And Fair Value Measurements (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Jun. 29, 2013 | Sep. 28, 2013 | |||||||||||||||||
Financial Instruments And Fair Value Measurements [Abstract] | ' | ' | ||||||||||||||||
Schedule Of Derivatives Not Designated As Hedging, By Balance Sheet Location | ' | ' | ||||||||||||||||
Liability Derivatives | ||||||||||||||||||
Derivatives not designated as hedging | ||||||||||||||||||
instruments under FASB guidance | Balance Sheet Location | 2013 | 2012 | |||||||||||||||
Interest rate swaps – 2010 Swaps | Other long-term liabilities | $ | 1 | $ | 7 | |||||||||||||
Schedule Of Derivatives Not Designated As Hedging, By Statement Of Operations Location | ' | ' | ||||||||||||||||
Derivatives not designated as hedging | ||||||||||||||||||
instruments under FASB guidance | Statement of Operations Location | 2013 | 2012 | |||||||||||||||
Interest rate swaps – 2010 Swaps | Other expense (income) | $ | (6 | ) | $ | - | ||||||||||||
Interest expense | $ | 4 | $ | 4 | ||||||||||||||
Schedule Of Assets Measured At Fair Value On A Non-Recurring Basis | ' | ' | ||||||||||||||||
As of the end of fiscal 2013 | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||
Quoted Prices in Active | Significant Other | |||||||||||||||||
Markets for Identical | Observable | Significant | ||||||||||||||||
Assets or Liabilities | Inputs | Unobservable Inputs | Total | Impairment Loss | ||||||||||||||
Indefinite-lived trademarks | $ | - | $ | - | $ | 207 | $ | 207 | $ | - | ||||||||
Goodwill | - | - | 1,634 | 1,634 | - | |||||||||||||
Definite lived intangibles | - | - | 649 | 649 | 5 | |||||||||||||
Property, plant, and equipment | - | - | 1,266 | 1,266 | - | |||||||||||||
Total | $ | - | $ | - | $ | 3,756 | $ | 3,756 | $ | 5 | ||||||||
As of the end of fiscal 2012 | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||
Quoted Prices in Active | Significant Other | |||||||||||||||||
Markets for Identical | Observable | Significant | ||||||||||||||||
Assets or Liabilities | Inputs | Unobservable Inputs | Total | Impairment Loss | ||||||||||||||
Indefinite-lived trademarks | $ | - | $ | - | $ | 220 | $ | 220 | $ | - | ||||||||
Goodwill | 1,626 | 1,626 | - | |||||||||||||||
Definite lived intangibles | - | - | 737 | 737 | 17 | |||||||||||||
Property, plant, and equipment | - | - | 1,216 | 1,216 | 3 | |||||||||||||
Total | $ | - | $ | - | $ | 3,799 | $ | 3,799 | $ | 20 | ||||||||
As of the end of fiscal 2011 | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||
Quoted Prices in Active | Significant Other | |||||||||||||||||
Markets for Identical | Observable | Significant | ||||||||||||||||
Assets or Liabilities | Inputs | Unobservable Inputs | Total | Impairment Loss | ||||||||||||||
Indefinite-lived trademarks | $ | - | $ | - | $ | 220 | $ | 220 | $ | - | ||||||||
Goodwill | - | - | 1,595 | 1,595 | 165 | |||||||||||||
Property, plant, and equipment | - | - | 1,250 | 1,250 | 35 | |||||||||||||
Total | $ | - | $ | - | $ | 3,065 | $ | 3,065 | $ | 200 | ||||||||
Goodwill_Intangible_Assets_And1
Goodwill, Intangible Assets And Deferred Costs (Tables) | 12 Months Ended | ||||||
Sep. 28, 2013 | |||||||
Goodwill, Intangible Assets And Deferred Costs [Abstract] | ' | ||||||
Schedule Of Intangible Assets, Goodwill And Deferred Costs | ' | ||||||
2013 | 2012 | Amortization Period | |||||
Deferred financing fees | $ | 48 | $ | 104 | Respective debt | ||
Accumulated amortization | -18 | -51 | |||||
Deferred financing fees, net | 30 | 53 | |||||
Goodwill | 1,634 | 1,626 | Indefinite lived | ||||
Customer relationships | 1,134 | 1,153 | 11 – 20 years | ||||
Trademarks (indefinite lived) | 207 | 220 | Indefinite lived | ||||
Trademarks (definite lived) | 76 | 69 | 8-15 years | ||||
Other intangibles | 107 | 99 | 10-20 years | ||||
Accumulated amortization | -668 | -584 | |||||
Intangible assets, net | 856 | 957 | |||||
Total goodwill, intangible assets and deferred costs | $ | 2,520 | $ | 2,636 |
Lease_And_Other_Commitments_An1
Lease And Other Commitments And Contingencies (Tables) | 12 Months Ended | |||||
Sep. 28, 2013 | ||||||
Lease And Other Commitments And Contingencies [Abstract] | ' | |||||
Schedule Of Future Minimum Payments For Capital And Operating Leases | ' | |||||
Capital Leases | Operating Leases | |||||
2014 | $ | 30 | $ | 44 | ||
2015 | 33 | 41 | ||||
2016 | 20 | 39 | ||||
2017 | 12 | 34 | ||||
2018 | 11 | 29 | ||||
Thereafter | 21 | 114 | ||||
127 | $ | 301 | ||||
Less: amount representing interest | -15 | |||||
Present value of net minimum lease payments | $ | 112 |
Accrued_Expenses_Other_Current1
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities (Tables) | 12 Months Ended | ||||
Sep. 28, 2013 | |||||
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities [Abstract] | ' | ||||
Summary Of Accrued Expenses And Other Current Liabilities | ' | ||||
2013 | 2012 | ||||
Employee compensation, payroll and other taxes | $ | 86 | $ | 95 | |
Interest | 45 | 60 | |||
Rebates | 55 | 68 | |||
TRA obligation | 32 | - | |||
Other | 58 | 77 | |||
$ | 276 | $ | 300 | ||
Summary Of Other Long-Term Liabilities | ' | ||||
2013 | 2012 | ||||
Lease retirement obligation | $ | 22 | $ | 20 | |
Sale-lease back deferred gain | 32 | 34 | |||
Pension liability | 43 | 84 | |||
TRA obligation | 277 | - | |||
Other | 13 | 28 | |||
$ | 387 | $ | 166 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income Taxes (Schedule Of Income Tax Benefit) | ' | ||||||||
2013 | 2012 | 2011 | |||||||
Current | |||||||||
United States | |||||||||
Federal | $ | - | -3 | $ | - | ||||
State | 2 | - | 1 | ||||||
Non-U.S. | 4 | 4 | 3 | ||||||
Current income tax provision | 6 | 1 | 4 | ||||||
Deferred: | |||||||||
United States | |||||||||
Federal | 26 | 3 | -57 | ||||||
State | -3 | -1 | 7 | ||||||
Non-U.S. | -1 | -1 | -1 | ||||||
Deferred income tax expense (benefit) | 22 | 1 | -51 | ||||||
Expense (benefit) for income taxes | $ | 28 | $ | 2 | $ | -47 | |||
Reconciliation From Federal Income Tax To Tax Benefit | ' | ||||||||
2013 | 2012 | 2011 | |||||||
U.S. Federal income tax expense (benefit) at the statutory rate | $ | 29 | $ | 1 | $ | -121 | |||
Adjustments to reconcile to the income tax provision: | |||||||||
U.S. State income tax expense, net of valuation allowance | -1 | -1 | 8 | ||||||
Impairment of goodwill | - | - | 58 | ||||||
Permanent differences | - | 1 | 1 | ||||||
Transaction costs | - | - | 1 | ||||||
Changes in foreign valuation allowance | 1 | 1 | 3 | ||||||
Rate differences between U.S. and foreign | -2 | 1 | 1 | ||||||
Other | 1 | -1 | 2 | ||||||
Expense (benefit) for income taxes | $ | 28 | $ | 2 | $ | -47 | |||
Components Of Net Deferred Income Tax Liability | ' | ||||||||
2013 | 2012 | ||||||||
Deferred tax assets: | |||||||||
Allowance for doubtful accounts | $ | 3 | $ | 4 | |||||
Deferred gain on sale-leaseback | 14 | 15 | |||||||
Accrued liabilities and reserves | 34 | 60 | |||||||
Inventories | 9 | 8 | |||||||
Net operating loss carryforward | 343 | 393 | |||||||
Alternative minimum tax (AMT) credit carryforward | 9 | 9 | |||||||
Federal and state tax credits | 14 | ||||||||
Other | 7 | 6 | |||||||
Total deferred tax assets | 433 | 495 | |||||||
Valuation allowance | -59 | -51 | |||||||
Total deferred tax assets, net of valuation allowance | 374 | 444 | |||||||
Deferred tax liabilities: | |||||||||
Property, plant and equipment | 187 | 190 | |||||||
Intangible assets | 300 | 322 | |||||||
Debt extinguishment | 132 | 132 | |||||||
Other | 1 | 1 | |||||||
Total deferred tax liabilities | 620 | 645 | |||||||
Net deferred tax liability | $ | -246 | $ | -201 | |||||
Activity Related To Gross Unrecognized Tax Benefits | ' | ||||||||
2013 | 2012 | ||||||||
Beginning unrecognized tax benefits | $ | 8 | $ | 33 | |||||
Gross increases – tax positions in prior periods | 6 | 2 | |||||||
Gross decreases – tax positions in prior periods | - | -25 | |||||||
Gross increases – current period tax positions | 1 | - | |||||||
Settlements | -1 | - | |||||||
Lapse of statute of limitations | - | -2 | |||||||
Ending unrecognized tax benefits | $ | 14 | $ | 8 |
Retirement_Plan_Tables
Retirement Plan (Tables) | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Retirement Plan [Abstract] | ' | ||||||||||||
Schedule Of Projected Benefit Obligations And Change In Fair Value Of Plan Assets | ' | ||||||||||||
Defined Benefit Pension Plans | Retiree Health Plan | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Change in Projected Benefit Obligations (PBO) | |||||||||||||
PBO at beginning of period | $ | 207 | $ | 179 | $ | 3 | $ | 4 | |||||
Service cost | - | - | - | - | |||||||||
Interest cost | 7 | 8 | - | - | |||||||||
Actuarial loss (gain) | (27 | ) | 29 | - | - | ||||||||
Benefits paid | (9 | ) | (9 | ) | (1 | ) | (1 | ) | |||||
PBO at end of period | $ | 178 | $ | 207 | $ | 2 | $ | 3 | |||||
Change in Fair Value of Plan Assets | |||||||||||||
Plan assets at beginning of period | $ | 129 | $ | 109 | $ | - | $ | - | |||||
Actual return on plan assets | 14 | 20 | - | - | |||||||||
Company contributions | 7 | 9 | - | 1 | |||||||||
Benefits paid | (9 | ) | (9 | ) | - | (1 | ) | ||||||
Plan assets at end of period | 141 | 129 | - | - | |||||||||
Net amount recognized | $ | (37 | ) | $ | (78 | ) | $ | (2 | ) | $ | (3 | ) | |
Weighted Average Assumptions Used To Determine Benefit Obligation And Benefit Cost | ' | ||||||||||||
Defined Benefit Pension Plans | Retiree Health Plan | ||||||||||||
(Percents) | 2013 | 2012 | 2013 | 2012 | |||||||||
Weighted-average assumptions: | |||||||||||||
Discount rate for benefit obligation | 4.5 | 3.6 | 3.1 | 2.4 | |||||||||
Discount rate for net benefit cost | 3.6 | 4.4 | 2.4 | 4.5 | |||||||||
Expected return on plan assets for net benefit costs | 8 | 8 | 8 | 8 | |||||||||
Schedule Of Plan Asset Fair Values | ' | ||||||||||||
Fiscal 2013 Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 5 | $ | - | $ | - | $ | 5 | |||||
U.S. large cap comingled equity funds | - | 46 | - | 46 | |||||||||
U.S. mid cap equity mutual funds | 15 | - | - | 15 | |||||||||
U.S. small cap equity mutual funds | 8 | - | - | 8 | |||||||||
International equity mutual funds | 12 | - | - | 12 | |||||||||
Real estate equity investment funds | 4 | - | - | 4 | |||||||||
Corporate bond mutual funds | 33 | - | - | 33 | |||||||||
Corporate bonds | - | 8 | - | 8 | |||||||||
Guaranteed investment account | - | - | 10 | 10 | |||||||||
Other | - | - | - | - | |||||||||
Total | $ | 77 | $ | 54 | $ | 10 | $ | 141 | |||||
Fiscal 2012 Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash and cash equivalents | $ | 4 | $ | - | $ | - | $ | 4 | |||||
U.S. large cap comingled equity funds | - | 40 | - | 40 | |||||||||
U.S. mid cap equity mutual funds | 13 | - | - | 13 | |||||||||
U.S. small cap equity mutual funds | 7 | - | - | 7 | |||||||||
International equity mutual funds | 13 | - | - | 13 | |||||||||
Real estate equity investment funds | 4 | - | - | 4 | |||||||||
Corporate bond mutual funds | 22 | - | - | 22 | |||||||||
Corporate bonds | - | 15 | - | 15 | |||||||||
Guaranteed investment account | - | - | 11 | 11 | |||||||||
Other | - | - | - | - | |||||||||
Total | $ | 63 | $ | 55 | $ | 11 | $ | 129 | |||||
Schedule Of Expected Benefit Payments | ' | ||||||||||||
Defined Benefit | |||||||||||||
Pension Plans | Retiree Health Plan | ||||||||||||
2014 | $ | 9 | $ | - | |||||||||
2015 | 10 | - | |||||||||||
2016 | 10 | - | |||||||||||
2017 | 10 | - | |||||||||||
2018 | 10 | - | |||||||||||
2019-2023 | 54 | 1 | |||||||||||
Schedule Of Net Pension And Retiree Health Benefit Expense | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Defined Benefit Pension Plans | |||||||||||||
Service cost | $ | - | $ | - | $ | - | |||||||
Interest cost | 7 | 8 | 9 | ||||||||||
Amortization | 3 | 2 | 1 | ||||||||||
Expected return on plan | (10 | ) | (8 | ) | (9 | ) | |||||||
Net periodic benefit cost | $ | - | $ | 2 | $ | 1 | |||||||
Schedule Of Defined Benefit Pension Plan Asset Allocations | ' | ||||||||||||
2013 | 2012 | ||||||||||||
Asset Category | |||||||||||||
Equity securities and equity-like | 60 | % | 59 | % | |||||||||
Debt securities and debt-like | 29 | 29 | |||||||||||
Other | 11 | 12 | |||||||||||
Total | 100 | % | 100 | % |
Restructuring_And_Impairment_C1
Restructuring And Impairment Charges (Tables) | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Restructuring And Impairment Charges [Abstract] | ' | ||||||||||||
Schedule Of Estimated Costs For Restructuring Programs | ' | ||||||||||||
Cumulative charges | To be Recognized in | ||||||||||||
Expected Total Costs | through Fiscal 2013 | Future | |||||||||||
Severance and termination benefits | $ | 39 | $ | 39 | $ | - | |||||||
Facility exit costs | 56 | 53 | 3 | ||||||||||
Asset impairment | 106 | 106 | - | ||||||||||
Other | 4 | 4 | - | ||||||||||
Total | $ | 205 | $ | 202 | $ | 3 | |||||||
Components Of Restructuring Charges By Segment | ' | ||||||||||||
Fiscal Year | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Rigid Open Top | |||||||||||||
Severance & termination benefits | $ | 1 | $ | - | $ | 2 | |||||||
Total | $ | 1 | $ | - | $ | 2 | |||||||
Rigid Closed Top | |||||||||||||
Severance & termination benefits | $ | 2 | $ | 3 | $ | 3 | |||||||
Facility exit costs | 1 | 2 | 1 | ||||||||||
Non-cash asset impairment | - | 4 | 4 | ||||||||||
Total | $ | 3 | $ | 9 | $ | 8 | |||||||
Engineered Materials | |||||||||||||
Severance & termination benefits | $ | 2 | $ | 4 | $ | 2 | |||||||
Facility exit costs | 1 | 2 | 7 | ||||||||||
Non-cash asset impairment | 6 | 16 | 22 | ||||||||||
Total | $ | 9 | $ | 22 | $ | 31 | |||||||
Flexible Packaging | |||||||||||||
Severance & termination benefits | $ | - | $ | - | $ | 4 | |||||||
Facility exit costs | 1 | - | 2 | ||||||||||
Non-cash asset impairment | - | - | 9 | ||||||||||
Total | $ | 1 | $ | - | $ | 15 | |||||||
Consolidated | |||||||||||||
Severance & termination benefits | $ | 5 | $ | 7 | $ | 11 | |||||||
Facility exit costs | 3 | 4 | 10 | ||||||||||
Non-cash asset impairment | 6 | 20 | 35 | ||||||||||
Total | $ | 14 | $ | 31 | $ | 56 | |||||||
Schedule Of Restructuring Accrual Costs | ' | ||||||||||||
Employee | Facility | ||||||||||||
Severance | Exit | Non-cash | |||||||||||
and Benefits | Costs | charges | Total | ||||||||||
Balance as of fiscal 2011 | $ | 4 | $ | 3 | $ | - | $ | 7 | |||||
Charges | 7 | 4 | 20 | 31 | |||||||||
Non-cash asset impairment | - | - | (20 | ) | (20 | ) | |||||||
Cash payments | (7 | ) | (4 | ) | - | (11 | ) | ||||||
Balance as of fiscal 2012 | 4 | 3 | - | 7 | |||||||||
Charges | 5 | 3 | 6 | 14 | |||||||||
Non-cash asset impairment | - | - | (6 | ) | (6 | ) | |||||||
Cash payments | (7 | ) | (4 | ) | - | (11 | ) | ||||||
Balance as of fiscal 2013 | $ | 2 | $ | 2 | $ | - | $ | 4 |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||||||||
Sep. 28, 2013 | ||||||||||||||
Schedule Of Stock Option Activity | ' | |||||||||||||
2013 | 2012 | |||||||||||||
Weighted | Weighted | |||||||||||||
Number | Average | Number | Average | |||||||||||
Of | Exercise | Of | Exercise | |||||||||||
Shares | Price | Shares | Price | |||||||||||
Options outstanding, beginning of period | 10,741,090 | $ | 7.76 | 10,826,232 | $ | 7.7 | ||||||||
Options granted | 2,818,700 | 16.01 | 695,898 | 10.57 | ||||||||||
Options exercised or cash settled | (3,333,153 | ) | 7.97 | (175,412 | ) | 7.33 | ||||||||
Options forfeited or cancelled | (191,408 | ) | 10.14 | (605,628 | ) | 7.43 | ||||||||
Options outstanding, end of period | 10,035,229 | $ | 9.96 | 10,741,090 | $ | 7.76 | ||||||||
Option price range at end of period | $ | 3.04-17.59 | $ | 3.04-15.04 | ||||||||||
Options exercisable at end of period | 5,182,027 | 7,327,612 | ||||||||||||
Options available for grant at period end | 8,076,290 | 1,597,240 | ||||||||||||
Weighted average fair value of options granted | $ | 6.15 | $ | 2.71 | ||||||||||
during period | ||||||||||||||
Schedule Of Assumptions Used For Options Granted | ' | |||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Risk-free interest rate | 0.6 | % | .6 -.9 | % | 1.3 | % | ||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Volatility factor | 0.38 | 0.38 | .32 -.34 | |||||||||||
Expected option life | 7 years | 5 years | 5 years | |||||||||||
Summary Of Options Outstanding By Exercise Price Range | ' | |||||||||||||
Range of Exercise | Number | Intrinsic Value | Weighted Remaining | Weighted | Number | Intrinsic Value | Unrecognized | Weighted | ||||||
Prices | Outstanding | of Outstanding | Contractual Life | Exercise Price | Exercisable | of Exercisable | Compensation | Recognition Period | ||||||
$ | 3.04 - $17.59 | 10,035,229 | $ | 106 | 6 years | $ | 9.96 | 5,182,027 | $ | 64 | $ | 15 | 2 years | |
Parent Company [Member] | ' | |||||||||||||
Schedule Of Assumptions Used For Options Granted | ' | |||||||||||||
Fiscal year | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Risk-free interest rate | 0.6 | % | 0.6 - 0.9 | % | 1.3 | % | ||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Volatility factor | 0.38 | 0.38 | .32-.34 | |||||||||||
Expected option life | 7 years | 5 years | 5 years |
Segment_And_Geographic_Data_Ta
Segment And Geographic Data (Tables) | 12 Months Ended | |||||||
Sep. 28, 2013 | ||||||||
Segment and Geographic Data [Abstract] | ' | |||||||
Summary Of Selected Information By Reportable Segment | ' | |||||||
2013 | 2012 | 2011 | ||||||
Net sales | ||||||||
Rigid Open Top | $ | 1,127 | $ | 1,229 | $ | 1,261 | ||
Rigid Closed Top | 1,387 | 1,438 | 1,053 | |||||
Engineered Materials | 1,397 | 1,362 | 1,451 | |||||
Flexible Packaging | 736 | 737 | 796 | |||||
Total | $ | 4,647 | $ | 4,766 | $ | 4,561 | ||
Operating income (loss) | ||||||||
Rigid Open Top | $ | 123 | $ | 159 | $ | 155 | ||
Rigid Closed Top | 130 | 95 | 77 | |||||
Engineered Materials | 116 | 70 | (71 | ) | ||||
Flexible Packaging | 17 | 1 | (119 | ) | ||||
Total | $ | 386 | $ | 325 | $ | 42 | ||
Depreciation and amortization | ||||||||
Rigid Open Top | $ | 90 | $ | 90 | $ | 102 | ||
Rigid Closed Top | 129 | 135 | 95 | |||||
Engineered Materials | 71 | 71 | 72 | |||||
Flexible Packaging | 51 | 59 | 75 | |||||
Total | $ | 341 | $ | 355 | $ | 344 | ||
Summary Of Assets And Goodwill By Segment | ' | |||||||
Total assets | 2013 | 2012 | ||||||
Rigid Open Top | $ | 1,805 | $ | 1,773 | ||||
Rigid Closed Top | 1,964 | 1,959 | ||||||
Engineered Materials | 817 | 873 | ||||||
Flexible Packaging | 549 | 501 | ||||||
$ | 5,135 | $ | 5,106 | |||||
Goodwill | 2013 | 2012 | ||||||
Rigid Open Top | $ | 681 | $ | 681 | ||||
Rigid Closed Top | 831 | 832 | ||||||
Engineered Materials | 73 | 73 | ||||||
Flexible Packaging | 49 | 40 | ||||||
$ | 1,634 | $ | 1,626 |
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 12 Months Ended | |||||||
Sep. 28, 2013 | ||||||||
Net Income (Loss) Per Share [Abstract] | ' | |||||||
Schedule Of Net Income (Loss) Per Share | ' | |||||||
2013 | 2012 | 2011 | ||||||
Net income (loss) | $ | 57 | $ | 2 | $ | (299 | ) | |
Weighted average shares of common stock outstanding--basic | 113,486 | 83,435 | 84,121 | |||||
Weighted average shares of common stock outstanding | 113,486 | 83,435 | 84,121 | |||||
Other common stock equivalents | 5,968 | 3,209 | - | |||||
Weighted average shares of common stock outstanding--diluted | 119,454 | 86,644 | 84,121 | |||||
Basic net income (loss) per share | ||||||||
Basic net income (loss) per share from continuing operations | $ | 0.5 | $ | 0.02 | $ | (3.55 | ) | |
Basic net income (loss) per share available to common shareholders | $ | 0.5 | $ | 0.02 | $ | (3.55 | ) | |
Diluted net income (loss) per share | ||||||||
Diluted net income (loss) per share from continuing operations | $ | 0.48 | $ | 0.02 | $ | (3.55 | ) | |
Diluted net income (loss) per share available to common shareholders | $ | 0.48 | $ | 0.02 | $ | (3.55 | ) |
Guarantor_And_NonGuarantor_Fin1
Guarantor And Non-Guarantor Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ||||||||||||||||||
Condensed Supplemental Consolidated Statements Of Operations | ' | ||||||||||||||||||
Condensed Supplemental Consolidated Statements of Operations | |||||||||||||||||||
Fiscal 2013 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Net sales | $ | - | $ | 571 | $ | 3,706 | $ | 370 | $ | - | $ | 4,647 | |||||||
Cost of sales | - | 506 | 3,021 | 308 | - | 3,835 | |||||||||||||
Selling, general and administrative expenses | - | 58 | 314 | 40 | - | 412 | |||||||||||||
Restructuring and impairment charges, net | - | 1 | 13 | - | - | 14 | |||||||||||||
Operating income | - | 6 | 358 | 22 | - | 386 | |||||||||||||
Other income | - | 56 | 1 | - | - | 57 | |||||||||||||
Interest expense, net | 47 | 24 | 201 | (120 | ) | 92 | 244 | ||||||||||||
Equity in net income of subsidiaries | (132 | ) | (297 | ) | - | - | 429 | - | |||||||||||
Net income (loss) before income taxes | 85 | 223 | 156 | 142 | (521 | ) | 85 | ||||||||||||
Income tax expense (benefit) | 28 | 80 | - | 2 | (82 | ) | 28 | ||||||||||||
Net income (loss) | $ | 57 | $ | 143 | $ | 156 | $ | 140 | $ | (439 | ) | $ | 57 | ||||||
Currency translation | - | - | - | (5 | ) | - | (5 | ) | |||||||||||
Interest rate hedges | - | 20 | - | - | - | 20 | |||||||||||||
Defined benefit pension and retiree benefit plans | - | 34 | - | - | - | 34 | |||||||||||||
Provision for income taxes related to other | |||||||||||||||||||
comprehensive income items | - | (20 | ) | - | - | - | (20 | ) | |||||||||||
Comprehensive income (loss) | $ | 57 | $ | 177 | $ | 156 | $ | 135 | $ | (439 | ) | $ | 86 | ||||||
Fiscal 2012 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Net sales | $ | - | $ | 579 | $ | 3,829 | $ | 358 | $ | - | $ | 4,766 | |||||||
Cost of sales | - | 520 | 3,151 | 313 | - | 3,984 | |||||||||||||
Selling, general and administrative expenses | - | 62 | 329 | 35 | - | 426 | |||||||||||||
Restructuring and impairment charges, net | - | 1 | 29 | 1 | - | 31 | |||||||||||||
Operating income (loss) | - | (4 | ) | 320 | 9 | - | 325 | ||||||||||||
Other income | - | (7 | ) | - | - | - | (7 | ) | |||||||||||
Interest expense, net | 54 | 39 | 261 | (110 | ) | 84 | 328 | ||||||||||||
Equity in net income of subsidiaries | (58 | ) | (173 | ) | - | - | 231 | - | |||||||||||
Net income (loss) before income taxes | 4 | 137 | 59 | 119 | (315 | ) | 4 | ||||||||||||
Income tax expense (benefit) | 2 | 46 | 1 | 3 | (50 | ) | 2 | ||||||||||||
Net income (loss) | $ | 2 | $ | 91 | $ | 58 | $ | 116 | $ | (265 | ) | $ | 2 | ||||||
Currency translation | - | - | - | 6 | - | 6 | |||||||||||||
Interest rate hedges | - | 4 | - | - | - | 4 | |||||||||||||
Defined benefit pension and retiree benefit plans | - | - | (14 | ) | - | - | (14 | ) | |||||||||||
Provision for income taxes related to other | |||||||||||||||||||
comprehensive income items | - | (1 | ) | 6 | - | - | 5 | ||||||||||||
Comprehensive income (loss) | $ | 2 | $ | 94 | $ | 50 | $ | 122 | $ | (265 | ) | $ | 3 | ||||||
Fiscal 2011 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Net sales | $ | - | $ | 695 | $ | 3,503 | $ | 363 | $ | - | $ | 4,561 | |||||||
Cost of sales | - | 617 | 2,948 | 343 | - | 3,908 | |||||||||||||
Selling, general and administrative expenses | - | 65 | 295 | 30 | - | 390 | |||||||||||||
Restructuring and impairment charges, net | - | 30 | 190 | 1 | - | 221 | |||||||||||||
Operating income (loss) | - | (17 | ) | 70 | (11 | ) | - | 42 | |||||||||||
Other income | - | 62 | (1 | ) | - | - | 61 | ||||||||||||
Interest expense, net | 50 | 49 | 249 | (77 | ) | 56 | 327 | ||||||||||||
Equity in net income of subsidiaries | 296 | 85 | - | - | (381 | ) | - | ||||||||||||
Net income (loss) before income taxes | (346 | ) | (213 | ) | (178 | ) | 66 | 325 | (346 | ) | |||||||||
Income tax expense (benefit) | (47 | ) | 16 | (29 | ) | 2 | 11 | (47 | ) | ||||||||||
Net income (loss) | $ | (299 | ) | $ | (229 | ) | $ | (149 | ) | $ | 64 | $ | 314 | $ | (299 | ) | |||
Currency translation | - | - | - | (10 | ) | - | (10 | ) | |||||||||||
Interest rate hedges | - | (8 | ) | - | - | - | (8 | ) | |||||||||||
Defined benefit pension and retiree benefit plans | - | - | (14 | ) | - | - | (14 | ) | |||||||||||
Provision for income taxes related to other | |||||||||||||||||||
comprehensive income items | - | 2 | 5 | - | - | 7 | |||||||||||||
Comprehensive income (loss) | $ | (299 | ) | $ | (235 | ) | $ | (158 | ) | $ | 54 | $ | 314 | $ | (324 | ) | |||
Condensed Supplemental Consolidated Balance Sheet | ' | ||||||||||||||||||
Condensed Supplemental Consolidated Balance Sheet As of fiscal year-end 2013 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Assets | |||||||||||||||||||
Current assets: | |||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 116 | $ | - | $ | 26 | $ | - | $ | 142 | |||||||
Accounts receivable, net of allowance | - | 5 | 371 | 73 | - | 449 | |||||||||||||
Intercompany receivable | 348 | 3,448 | - | 40 | (3,836 | ) | - | ||||||||||||
Inventories | - | 53 | 482 | 40 | - | 575 | |||||||||||||
Deferred income taxes | 139 | - | - | - | - | 139 | |||||||||||||
Prepaid expenses and other current | - | 12 | 11 | 19 | (10 | ) | 32 | ||||||||||||
Total current assets | 487 | 3,634 | 864 | 198 | (3,846 | ) | 1,337 | ||||||||||||
Property, plant and equipment, net | - | 115 | 1,079 | 72 | - | 1,266 | |||||||||||||
Intangible assets, net | 8 | 139 | 2,275 | 106 | (8 | ) | 2,520 | ||||||||||||
Investment in subsidiaries | 760 | 905 | - | - | (1,665 | ) | - | ||||||||||||
Other assets | - | 10 | 2 | 631 | (631 | ) | 12 | ||||||||||||
Total assets | $ | 1,255 | $ | 4,803 | $ | 4,220 | $ | 1,007 | $ | (6,150 | ) | $ | 5,135 | ||||||
Liabilities and equity | |||||||||||||||||||
Current liabilities: | |||||||||||||||||||
Accounts payable | $ | - | $ | 9 | $ | 262 | $ | 66 | $ | - | $ | 337 | |||||||
Accrued and other current liabilities | 41 | 119 | 112 | 15 | (11 | ) | 276 | ||||||||||||
Intercompany payable | - | - | 3,837 | - | (3,837 | ) | - | ||||||||||||
Long-term debt-current portion | - | 69 | - | 2 | - | 71 | |||||||||||||
Total current liabilities | 41 | 197 | 4,211 | 83 | (3,848 | ) | 684 | ||||||||||||
Long-term debt | 740 | 3,855 | - | 2 | (722 | ) | 3,875 | ||||||||||||
Deferred tax liabilities | 385 | - | - | - | - | 385 | |||||||||||||
Other long-term liabilities | 285 | 64 | 44 | 4 | (10 | ) | 387 | ||||||||||||
Total long-term liabilities | 1,410 | 3,919 | 44 | 6 | (732 | ) | 4,647 | ||||||||||||
Total liabilities | 1,451 | 4,116 | 4,255 | 89 | (4,580 | ) | 5,331 | ||||||||||||
Redeemable shares | - | - | - | - | - | ||||||||||||||
Other equity (deficit) | (196 | ) | 687 | (35 | ) | 918 | (1,570 | ) | (196 | ) | |||||||||
Total equity (deficit) | (196 | ) | 687 | (35 | ) | 918 | (1,570 | ) | (196 | ) | |||||||||
Total liabilities and equity (deficit) | $ | 1,255 | $ | 4,803 | $ | 4,220 | $ | 1,007 | $ | (6,150 | ) | $ | 5,135 | ||||||
Condensed Supplemental Consolidated Balance Sheet As of fiscal year-end 2012 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Assets | |||||||||||||||||||
Current assets: | |||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 66 | $ | - | $ | 21 | $ | - | $ | 87 | |||||||
Accounts receivable, net of allowance | - | 60 | 336 | 59 | - | 455 | |||||||||||||
Intercompany receivable | 243 | 3,800 | 74 | - | (4,117 | ) | - | ||||||||||||
Inventories | - | 83 | 414 | 38 | - | 535 | |||||||||||||
Prepaid expenses and other current | 120 | 17 | 9 | 21 | (11 | ) | 156 | ||||||||||||
Total current assets | 363 | 4,026 | 833 | 139 | (4,128 | ) | 1,233 | ||||||||||||
Property, plant and equipment, net | - | 113 | 1,023 | 80 | - | 1,216 | |||||||||||||
Intangible assets, net | 8 | 184 | 2,343 | 111 | (10 | ) | 2,636 | ||||||||||||
Investment in subsidiaries | 254 | 615 | - | - | (869 | ) | - | ||||||||||||
Other assets | - | 10 | 10 | 638 | (637 | ) | 21 | ||||||||||||
Total assets | $ | 625 | $ | 4,948 | $ | 4,209 | $ | 968 | $ | (5,644 | ) | $ | 5,106 | ||||||
Liabilities and equity | |||||||||||||||||||
Current liabilities: | |||||||||||||||||||
Accounts payable | $ | - | $ | 84 | $ | 195 | $ | 27 | $ | - | $ | 306 | |||||||
Accrued and other current liabilities | 18 | 159 | 120 | 16 | (13 | ) | 300 | ||||||||||||
Intercompany payable | - | - | 3,966 | 151 | (4,117 | ) | - | ||||||||||||
Long-term debt-current portion | - | 35 | - | 5 | - | 40 | |||||||||||||
Total current liabilities | 18 | 278 | 4,281 | 199 | (4,130 | ) | 646 | ||||||||||||
Long-term debt | 736 | 4,542 | - | 3 | (850 | ) | 4,431 | ||||||||||||
Deferred tax liabilities | 315 | - | - | - | - | 315 | |||||||||||||
Other long-term liabilities | 8 | 37 | 119 | 5 | (3 | ) | 166 | ||||||||||||
Total long-term liabilities | 1,059 | 4,579 | 119 | 8 | (853 | ) | 4,912 | ||||||||||||
Total liabilities | 1,077 | 4,857 | 4,400 | 207 | (4,983 | ) | 5,558 | ||||||||||||
Redeemable shares | 23 | - | - | - | 23 | ||||||||||||||
Other equity (deficit) | (475 | ) | 91 | (191 | ) | 761 | (661 | ) | (475 | ) | |||||||||
Total equity (deficit) | (452 | ) | 91 | (191 | ) | 761 | (661 | ) | (452 | ) | |||||||||
Total liabilities and equity (deficit) | $ | 625 | $ | 4,948 | $ | 4,209 | $ | 968 | $ | (5,644 | ) | $ | 5,106 | ||||||
Condensed Supplemental Consolidated Statements Of Cash Flows | ' | ||||||||||||||||||
Condensed Supplemental Consolidated Statements of Cash Flows | |||||||||||||||||||
Fiscal 2013 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Cash Flow from Operating Activities | $ | - | $ | (16 | ) | $ | 417 | $ | 63 | $ | - | $ | 464 | ||||||
Cash Flow from Investing Activities | |||||||||||||||||||
Additions to property, plant, and equipment | - | (7 | ) | (218 | ) | (14 | ) | - | (239 | ) | |||||||||
Proceeds from disposal of assets | - | 1 | 17 | - | - | 18 | |||||||||||||
Investment in Parent | - | - | - | (21 | ) | 21 | - | - | |||||||||||
(Contributions) distributions to/from subsidiaries | (462 | ) | 441 | - | - | 21 | - | ||||||||||||
Intercompany advances (repayments) | - | 210 | - | - | (210 | ) | - | ||||||||||||
Investment in Issuer debt securities | - | - | - | - | - | - | |||||||||||||
Acquisition of business net of cash acquired | - | - | (24 | ) | - | - | (24 | ) | |||||||||||
Net cash from investing activities | (462 | ) | 645 | (225 | ) | (35 | ) | (168 | ) | (245 | ) | ||||||||
Cash Flow from Financing Activities | |||||||||||||||||||
Proceeds from long-term debt | - | 1,391 | - | - | - | 1,391 | |||||||||||||
IPO proceeds | 438 | - | - | - | - | 438 | |||||||||||||
Payment of TRA | (5 | ) | (5 | ) | - | - | 5 | (5 | ) | ||||||||||
Proceed from issuance of common stock | 27 | - | - | - | - | 27 | |||||||||||||
Repayment of note receivable | 2 | 2 | - | - | (2 | ) | 2 | ||||||||||||
Repayment of long-term debt | - | (1,955 | ) | - | (2 | ) | (21 | ) | (1,978 | ) | |||||||||
Changes in intercompany balances | - | - | (192 | ) | (15 | ) | 207 | - | |||||||||||
Contribution from Parent | - | - | - | 21 | (21 | ) | - | ||||||||||||
Deferred financing costs | - | (39 | ) | - | - | - | (39 | ) | |||||||||||
Net cash from financing activities | 462 | (606 | ) | (192 | ) | 4 | 168 | (164 | ) | ||||||||||
Net change in cash and cash equivalents | - | 50 | - | 5 | - | 55 | |||||||||||||
Cash and cash equivalents at beginning of period | - | 66 | - | 21 | - | 87 | |||||||||||||
Cash and cash equivalents at end of period | $ | - | $ | 116 | $ | - | $ | 26 | $ | - | $ | 142 | |||||||
Fiscal 2012 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Cash Flow from Operating Activities | $ | - | $ | (22 | ) | $ | 504 | $ | (3 | ) | $ | - | $ | 479 | |||||
Cash Flow from Investing Activities | |||||||||||||||||||
Additions to property, plant, and equipment | - | (9 | ) | (209 | ) | (12 | ) | - | (230 | ) | |||||||||
Proceeds from disposal of assets | - | - | 30 | - | - | 30 | |||||||||||||
Investment in Parent | - | - | - | (4 | ) | 4 | - | - | |||||||||||
(Contributions) distributions to/from subsidiaries | 16 | (20 | ) | - | - | 4 | - | ||||||||||||
Intercompany advances (repayments) | - | 258 | - | - | (258 | ) | - | ||||||||||||
Investment in Issuer debt securities | - | - | - | - | - | - | |||||||||||||
Acquisition of business net of cash acquired | - | - | 7 | (62 | ) | - | (55 | ) | |||||||||||
Net cash from investing activities | 16 | 229 | (172 | ) | (78 | ) | (250 | ) | (255 | ) | |||||||||
Cash Flow from Financing Activities | |||||||||||||||||||
Proceeds from long-term debt | - | - | - | 2 | - | 2 | |||||||||||||
Equity contributions | - | (6 | ) | - | - | - | (6 | ) | |||||||||||
Repayment of long-term debt | (16 | ) | (155 | ) | - | - | (4 | ) | (175 | ) | |||||||||
Changes in intercompany balances | - | - | (337 | ) | 79 | 258 | - | ||||||||||||
Contribution from Parent | - | - | - | 4 | (4 | ) | - | ||||||||||||
Deferred financing costs | - | - | - | - | - | - | |||||||||||||
Net cash from financing activities | (16 | ) | (161 | ) | (337 | ) | 85 | 250 | (179 | ) | |||||||||
Net change in cash and cash equivalents | - | 46 | (5 | ) | 4 | - | 45 | ||||||||||||
Cash and cash equivalents at beginning of period | - | 20 | 5 | 17 | - | 42 | |||||||||||||
Cash and cash equivalents at end of period | $ | - | $ | 66 | $ | - | $ | 21 | $ | - | $ | 87 | |||||||
Fiscal 2011 | |||||||||||||||||||
Non- | |||||||||||||||||||
Guarantor | Guarantor | ||||||||||||||||||
Parent | Issuer | Subsidiaries | Subsidiaries | Eliminations | Total | ||||||||||||||
Cash Flow from Operating Activities | $ | 2 | $ | 15 | $ | 322 | $ | (11 | ) | $ | (1 | ) | $ | 327 | |||||
Cash Flow from Investing Activities | |||||||||||||||||||
Additions to property, plant, and equipment | - | (16 | ) | (138 | ) | (6 | ) | - | (160 | ) | |||||||||
Proceeds from disposal of assets | - | - | 5 | - | - | 5 | |||||||||||||
Investment in Parent | - | - | - | - | - | - | - | ||||||||||||
(Contributions) distributions to/from subsidiaries | - | (39 | ) | - | - | 39 | - | ||||||||||||
Intercompany advances (repayments) | - | 166 | - | - | (166 | ) | - | ||||||||||||
Investment in Issuer debt securities | - | - | - | (39 | ) | 39 | - | ||||||||||||
Acquisition of business net of cash acquired | - | (368 | ) | - | - | - | (368 | ) | |||||||||||
Net cash from investing activities | - | (257 | ) | (133 | ) | (45 | ) | (88 | ) | (523 | ) | ||||||||
Cash Flow from Financing Activities | |||||||||||||||||||
Proceeds from long-term debt | - | 995 | - | - | - | 995 | |||||||||||||
Equity contributions | (2 | ) | (1 | ) | - | - | 1 | (2 | ) | ||||||||||
Repayment of long-term debt | - | (841 | ) | - | - | (39 | ) | (880 | ) | ||||||||||
Changes in intercompany balances | - | - | (186 | ) | 20 | 166 | - | ||||||||||||
Contribution from Parent | - | - | - | 39 | (39 | ) | - | ||||||||||||
Deferred financing costs | - | (23 | ) | - | - | - | (23 | ) | |||||||||||
Net cash from financing activities | (2 | ) | 130 | (186 | ) | 59 | 89 | 90 | |||||||||||
Net change in cash and cash equivalents | - | (112 | ) | 3 | 3 | - | (106 | ) | |||||||||||
Cash and cash equivalents at beginning of period | - | 132 | 2 | 14 | - | 148 | |||||||||||||
Cash and cash equivalents at end of period | $ | - | $ | 20 | $ | 5 | $ | 17 | $ | - | $ | 42 |
Quarterly_Financial_Data_Table
Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||
Schedule Of Quarterly Financial Data | ' | ||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | ||||||||||||
Net sales | $ | 1,072 | $ | 1,150 | $ | 1,221 | $ | 1,204 | $ | 1,137 | $ | 1,183 | $ | 1,242 | $ | 1,204 | |||
Cost of sales | 895 | 936 | 998 | 1,006 | 972 | 972 | 1,028 | 977 | |||||||||||
Gross profit | 177 | 214 | 223 | 198 | 165 | 211 | 214 | 227 | |||||||||||
Net income (loss) | $ | (10 | ) | $ | 1 | $ | 40 | $ | 26 | $ | (31 | ) | $ | 2 | $ | 9 | $ | 22 |
Basis_Of_Presentation_And_Summ3
Basis Of Presentation And Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Aug. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Jun. 29, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Dec. 31, 2013 | Oct. 02, 2006 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Oct. 31, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Jul. 31, 2013 | Apr. 30, 2013 |
segment | segment | Minimum [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Licenses [Member] | Patents [Member] | Patents [Member] | 11% Senior Subordinated Notes [Member] | Business Optimimization Costs [Member] | Business Optimimization Costs [Member] | Business Optimimization Costs [Member] | Write down Long lived Debt Assets [Member] | Write down Long lived Debt Assets [Member] | Write down Long lived Debt Assets [Member] | Initial Public Offering [Member] | Initial Public Offering [Member] | Initial Public Offering [Member] | Initial Public Offering [Member] | Secondary Public Offering [Member] | Secondary Public Offering [Member] | ||||||||||||||
Minimum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,411,764 | ' | ' | ' | 17,250,000 | 18,975,000 |
Stock sold, price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | ' | ' | ' | $21.63 | $17 |
Shares purchase by underwriters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,250,000 | 2,475,000 |
Proceeds from sale of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $438 | ' | ' | ' | ' | ' |
Amount of debt extinguished | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 455 | ' | ' | ' | ' | ' |
Additional Paid in Capital | ' | 322 | ' | ' | ' | 131 | ' | ' | ' | ' | 322 | 131 | ' | 308 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33 | 313 | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' |
Stock split ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.25 | ' | ' | ' | ' | ' |
Debt issued to related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 313 | 360 | ' | ' |
Underwriting fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 360 | 311 |
Debt premiums paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 | ' | ' | ' | ' | ' |
Write-off of deferred financing fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' |
Research and development expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 25 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation expense | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized for grant | ' | ' | ' | ' | ' | 9,297,750 | ' | ' | ' | ' | ' | 9,297,750 | ' | ' | 7,071,337 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest costs capitalized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 5 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 20 | 35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 20 | 35 | ' | ' | ' | ' | ' | ' |
Number of reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 165 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Base volume decline | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite intangible assets, useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | '20 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite intangible assets, weighted-average life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Definite lived intangible assets, Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 17 | 165 | ' | ' | ' | 21 | 37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrual for customer rebates | ' | 55 | ' | ' | ' | 68 | ' | ' | ' | ' | 55 | 68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secondary public offering fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 |
Cost of Goods Sold | ' | 1,006 | 998 | 936 | 895 | 977 | 1,028 | 972 | 972 | ' | 3,835 | 3,984 | 3,908 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 32 | 31 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
captitalized interest amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5 | $5 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_Of_Presentation_And_Summ4
Basis Of Presentation And Summary Of Significant Accounting Policies (Schedule Of Assumptions Used For Options Granted) (Details) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | |
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ' | ' |
Risk-free interest rate, minimum | 0.60% | 0.60% | ' |
Risk-free interest rate, maximum | 0.90% | 0.90% | ' |
Risk-free interest rate | ' | ' | 1.30% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility factor | 0.38% | 0.38% | ' |
Volatility factor, minimum | ' | ' | 0.32% |
Volatility factor, maximum | ' | ' | 0.34% |
Expected option life | '7 years | '5 years | '5 years |
Basis_Of_Presentation_And_Summ5
Basis Of Presentation And Summary Of Significant Accounting Policies (Activity For Allowance For Doubtful Accounts) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ' | ' |
Allowance for Doubtful Accounts Receivable, Current, Beginning Balance | $3 | $4 | $4 |
Bad debt expense | 1 | 1 | 1 |
Write-offs against allowance | -1 | -2 | -1 |
Allowance for Doubtful Accounts Receivable, Current, Ending Balance | $3 | $3 | $4 |
Basis_Of_Presentation_And_Summ6
Basis Of Presentation And Summary Of Significant Accounting Policies (Schedule Of Inventory) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ' |
Finished goods | $335 | $306 |
Raw materials | 240 | 229 |
Inventory, total | $575 | $535 |
Basis_Of_Presentation_And_Summ7
Basis Of Presentation And Summary Of Significant Accounting Policies (Schedule Of Property, Plant And Equipment) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | $2,543 | $2,300 |
Less accumulated depreciation | -1,277 | -1,084 |
Property, plant and equipment, net | 1,266 | 1,216 |
Land, Buildings And Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 302 | 281 |
Equipment And Construction In Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | $2,241 | $2,019 |
Basis_Of_Presentation_And_Summ8
Basis Of Presentation And Summary Of Significant Accounting Policies (Changes In The Carrying Amount Of Goodwill) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | $1,626 | $1,595 | ' |
Foreign currency translation adjustment | ' | 2 | ' |
Impairment of goodwill | ' | ' | -165 |
Goodwill from acquisitions | 8 | 29 | ' |
Goodwill, Ending Balance | 1,634 | 1,626 | 1,595 |
Rigid Open Top [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Ending Balance | 681 | 681 | 681 |
Rigid Closed Top [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | 832 | 819 | ' |
Foreign currency translation adjustment | -1 | 2 | ' |
Goodwill from acquisitions | ' | 11 | ' |
Goodwill, Ending Balance | 831 | 832 | ' |
Engineered Materials [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | 73 | 55 | ' |
Foreign currency translation adjustment | 1 | ' | ' |
Goodwill from acquisitions | -1 | 18 | ' |
Goodwill, Ending Balance | 73 | 73 | ' |
Flexible Packaging [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | 40 | ' | ' |
Goodwill from acquisitions | 9 | ' | ' |
Goodwill, Ending Balance | $49 | ' | $40 |
Basis_Of_Presentation_And_Summ9
Basis Of Presentation And Summary Of Significant Accounting Policies (Schedule Of Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets, net, beginning balance | $957 | $1,044 | ' |
Finite intangible assets, accumulated amortization, beginning balance | -584 | ' | ' |
Adjustment for income taxes | -5 | -4 | ' |
Amortization expense | -105 | -109 | -106 |
Acquisition intangibles | 12 | 43 | ' |
Impairment of intangibles, finite | -5 | -17 | -165 |
Intangible assets, net, ending balance | 856 | 957 | 1,044 |
Finite intangible assets, accumulated amortization, ending balance | -668 | -584 | ' |
Trademarks [Member] | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' |
Finite intangible assets, beginning balance | 289 | 286 | ' |
Adjustment for income taxes | -1 | ' | ' |
Write-off of fully amortized intangibles | -5 | ' | ' |
Acquisition intangibles | 1 | 3 | ' |
Impairment of intangibles, finite | -1 | ' | ' |
Finite intangible assets, ending balance | 283 | 289 | ' |
Accumulated Amortization [Member] | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' |
Finite intangible assets, beginning balance | -584 | -502 | ' |
Adjustment for income taxes | -2 | ' | ' |
Write-off of fully amortized intangibles | 6 | 7 | ' |
Amortization expense | -105 | -109 | ' |
Impairment of intangibles, finite | 17 | 20 | ' |
Finite intangible assets, ending balance | -668 | -584 | ' |
Customer Relationships [Member] | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' |
Finite intangible assets, beginning balance | 1,153 | 1,178 | ' |
Adjustment for income taxes | -7 | ' | ' |
Acquisition intangibles | 9 | 12 | ' |
Impairment of intangibles, finite | -21 | -37 | ' |
Finite intangible assets, ending balance | 1,134 | 1,153 | ' |
Other Intangible Assets [Member] | ' | ' | ' |
Intangible Assets [Line Items] | ' | ' | ' |
Finite intangible assets, beginning balance | 99 | 82 | ' |
Adjustment for income taxes | 5 | -4 | ' |
Write-off of fully amortized intangibles | -1 | -7 | ' |
Acquisition intangibles | 2 | 28 | ' |
Finite intangible assets, ending balance | $107 | $99 | ' |
Recovered_Sheet1
Basis Of Presentation And Summary Of Significant Accounting Policies (Schedule Of Other Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Basis Of Presentation And Guarantor And Non-Guarantor Financial Information [Abstract] | ' | ' | ' |
Beginning Balance, Currency Translation | ($15) | ($21) | ($11) |
Other Comprehensive Income (Loss), Currency Translation | -5 | 6 | -10 |
Balance, Currency Translation | -20 | -15 | -21 |
Beginning Balance, Defined Benefit Pension and Retiree Health Benefit Plans | 29 | 21 | -12 |
Defined benefit pension and retiree benefit plans | 34 | -14 | -14 |
Tax expense (benefit), Defined Benefit Pension and Retiree Health Benefit Plans | -13 | 6 | 5 |
Balance, Defined Benefit Pension and Retiree Health Benefit Plans | -8 | -29 | -21 |
Beginning Balance, Interest Rate Hedges | -3 | -6 | ' |
Other Comprehensive Income (Loss), Interest Rate Hedges | 20 | 4 | -8 |
Tax expense (benefit), Interest Rate Hedges | -7 | -1 | 2 |
Balance, Interest Rate Hedges | 10 | -3 | -6 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -47 | -48 | -23 |
Other Comprehensive Income (Loss), Accumulated Other Comprehensive Loss | 49 | -4 | -32 |
Provision for income taxes related to other comprehensive income items | -20 | 5 | 7 |
Balance, Accumulated Other Comprehensive Loss | ($18) | ($47) | ($48) |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | |
In Millions, unless otherwise specified | Oct. 01, 2011 | Sep. 28, 2013 | Sep. 30, 2011 |
STOPAQ [Member] | Rexam SBC [Member] | ||
Business Acquisition [Line Items] | ' | ' | ' |
Percentage of capital stock acquired | ' | 100.00% | 100.00% |
Aggregate purchase price | ' | $65 | $351 |
Purchase price, net of cash acquired | ' | 62 | 340 |
Pro forma net sales | 4,996 | ' | ' |
Pro forma net income (loss) | $307 | ' | ' |
Acquisitions_Schedule_Of_Preli
Acquisitions (Schedule Of Preliminary Allocation Of Purchase Price) (Details) (Rexam SBC [Member], USD $) | Sep. 28, 2013 |
In Millions, unless otherwise specified | |
Rexam SBC [Member] | ' |
Business Acquisition [Line Items] | ' |
Working capital | $80 |
Property and equipment | 199 |
Intangible assets | 43 |
Goodwill | 60 |
Other long-term liabilities | -31 |
Net assets acquired | $351 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 12 Months Ended | |||
Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Oct. 02, 2007 | |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | $2,500,000 |
Percentage of excess cash flow that must be used to prepay outstanding term loan | 50.00% | ' | ' | ' |
Percentage of net cash proceeds from non-ordinary asset sales, casualty and condemnation events that must be used to prepay outstanding term loan if not reinvested in business | 100.00% | ' | ' | ' |
Fixed charge coverage ratio | 2.25% | ' | ' | ' |
Credit facility, unused capacity | 10.00% | ' | ' | ' |
Credit facility, remaining borrowing capacity | 531,000,000 | ' | ' | ' |
First lien secured leverage ratio | 3.20% | ' | ' | ' |
Interest paid | 245,000,000 | 288,000,000 | 300,000,000 | ' |
Unsecured Debt | 21,000,000 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 4,000,000 | ' | ' | ' |
Term Loan [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | ' | 650,000,000 |
Maturity Date | 1-Apr-15 | ' | ' | ' |
Period of time company has to reinvest net cash proceeds from non-ordinary asset sales, casualty and condemnation events | '15 months | ' | ' | ' |
Term that unused capacity of credit facility must be below 10% to trigger ratio requirement | '10 days | ' | ' | ' |
First lien secured leverage ratio | 4.00% | ' | ' | ' |
Revolving Line Of Credit [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | ' | 650,000,000 |
Maturity Date | 1-Jun-16 | ' | ' | ' |
Letter of credit, fronting fee | 0.13% | ' | ' | ' |
Letter of credit, amount outstanding | 44,000,000 | ' | ' | ' |
Libor [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Amount added to base rate for interest rate | 2.00% | ' | ' | ' |
9 3/4% Second Priority Senior Secured Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | 9.75% | ' | ' | ' |
Maturity Date | 1-Jan-21 | ' | ' | ' |
10 1/4% Senior Subordinated Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | 10.25% | ' | ' | ' |
11% Senior Subordinated Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | 11.00% | ' | ' | ' |
Minimum [Member] | Revolving Line Of Credit [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Credit facility, unutilized capacity commitment fee | 0.38% | ' | ' | ' |
Minimum [Member] | Libor [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Amount added to base rate for interest rate | 1.75% | ' | ' | ' |
Maximum [Member] | Revolving Line Of Credit [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Credit facility, unutilized capacity commitment fee | 0.50% | ' | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | ' | $254,000,000 | ' | ' |
Base Rate [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Amount added to base rate for interest rate | 0.00% | ' | ' | ' |
Base Rate [Member] | Term Loan [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Amount added to base rate for interest rate | 1.00% | ' | ' | ' |
Based On Achievement Certain Leverage Ratios [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Percentage of excess cash flow that must be used to prepay outstanding term loan | 0.00% | ' | ' | ' |
LongTerm_Debt_Summary_Of_LongT
Long-Term Debt (Summary Of Long-Term Debt) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | $3,954 | ' |
Debt discount, net | -8 | -9 |
Capital leases and other | 114 | 91 |
Debt and Capital Lease Obligations, Total | 3,946 | 4,471 |
Less current portion of long-term debt | -71 | -40 |
Long-term debt | 3,875 | 4,431 |
Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 1,125 | 1,134 |
Maturity Date | 1-Apr-15 | ' |
Term Loan 2020[Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 1,397 | ' |
Maturity Date | 1-Feb-20 | ' |
Revolving Line Of Credit [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 73 |
Maturity Date | 1-Jun-16 | ' |
First Priority Senior Secured Floating Rate Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 681 |
8 1/4% First Priority Senior Secured Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 370 |
Debt instrument, interest rate, stated percentage | 8.25% | ' |
Second Priority Senior Secured Floating Rate Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 210 |
9 1/2% Second Priority Senior Secured Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 500 | 500 |
Debt instrument, interest rate, stated percentage | 9.50% | ' |
Maturity Date | 1-May-18 | ' |
Senior Unsecured Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 18 | 39 |
Maturity Date | 1-Jun-14 | ' |
9 3/4% Second Priority Senior Secured Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 800 | 800 |
Debt instrument, interest rate, stated percentage | 9.75% | ' |
Maturity Date | 1-Jan-21 | ' |
10 1/4% Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | 127 |
Debt instrument, interest rate, stated percentage | 10.25% | ' |
11% Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ' | $455 |
Debt instrument, interest rate, stated percentage | 11.00% | ' |
LongTerm_Debt_Future_Maturitie
Long-Term Debt (Future Maturities Of Long-Term Debt) (Details) (USD $) | Sep. 28, 2013 |
In Millions, unless otherwise specified | |
Long-Term Debt [Abstract] | ' |
2014 | $71 |
2015 | 1,156 |
2016 | 32 |
2017 | 24 |
2018 | 524 |
Thereafter | 2,147 |
Long-term Debt, Total | $3,954 |
Financial_Instruments_And_Fair2
Financial Instruments And Fair Value Measurements (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | |||
Feb. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Oct. 02, 2010 | |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Variable rate term loan, amount outstanding | $1,000,000,000 | ' | ' | ' | ' |
Term of fixed interest rate | '3 years | ' | ' | ' | ' |
Derivative instrument fixed interest rate | 2.36% | ' | ' | ' | ' |
Derivative maturity date | 1-May-16 | ' | ' | ' | ' |
Fair value of investments exceeding book value | ' | 164,000,000 | 195,000,000 | ' | ' |
Derivative settlement receivables | 16,000,000 | ' | ' | ' | ' |
Redeemable shares | ' | ' | 23,000,000 | ' | ' |
Goodwill, Impairment Loss | ' | ' | ' | 165,000,000 | ' |
Property, plant, and equipment carrying amount before impairment | ' | ' | 1,219,000,000 | 1,285,000,000 | 5,000,000 |
Property, plant, and equipment fair value | ' | 1,266,000,000 | 1,216,000,000 | 1,250,000,000 | ' |
Property, plant, and equipment, Impairment loss | ' | ' | 3,000,000 | 35,000,000 | ' |
Recognized impairment charge on property, plant, and equipment and fair value | ' | ' | 17,000,000 | ' | ' |
Unrealized Gain (Loss) on Fair Value | ' | -1,000,000 | ' | ' | ' |
Parent Company [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Redeemable shares | ' | ' | 23,000,000 | ' | ' |
2010 Swaps [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Number of interest rate swaps | ' | 2 | ' | ' | ' |
Variable rate term loan, amount outstanding | ' | 1,000,000,000 | ' | ' | ' |
2010 Swaps Part One [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Notional amount of swap agreement | ' | 500,000,000 | ' | ' | ' |
Term of fixed interest rate | ' | '3 years | ' | ' | ' |
Derivative instrument fixed interest rate | ' | 0.89% | ' | ' | ' |
2010 Swaps Part Two [Member] | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Notional amount of swap agreement | ' | $500,000,000 | ' | ' | ' |
Term of fixed interest rate | ' | '3 years | ' | ' | ' |
Derivative instrument fixed interest rate | ' | 1.02% | ' | ' | ' |
Financial_Instruments_And_Fair3
Financial Instruments And Fair Value Measurements (Schedule Of Derivatives Not Designated As Hedging, By Balance Sheet Location) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Other Expense (Income) [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
2010 Swaps | ($6) | ' |
Interest Expense [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
2010 Swaps | 4 | 4 |
2010 Swaps [Member] | Interest Rate Swap [Member] | Other Long-Term Liabilites [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Interest rate swaps | $1 | $7 |
Financial_Instruments_And_Fair4
Financial Instruments And Fair Value Measurements (Schedule Of Assets Measured At Fair Value On A Non-Recurring Basis) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Indefinite-lived trademarks | $207 | $220 | $220 |
Goodwill | 1,634 | 1,626 | 1,595 |
Definite lived intangibles | 649 | 737 | ' |
Property, plant, and equipment | 1,266 | 1,216 | 1,250 |
Total | 3,756 | 3,799 | 3,065 |
Goodwill, Impairment Loss | ' | ' | 165 |
Definite lived intangible assets, impairment loss | 5 | 17 | 165 |
Property, plant, and equipment, Impairment loss | ' | 3 | 35 |
Total, Impairment Loss | ' | ' | 200 |
Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Indefinite-lived trademarks | ' | ' | ' |
Goodwill | ' | ' | ' |
Definite lived intangibles | ' | ' | ' |
Property, plant, and equipment | ' | ' | ' |
Total | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Indefinite-lived trademarks | ' | ' | ' |
Goodwill | ' | ' | ' |
Definite lived intangibles | ' | ' | ' |
Property, plant, and equipment | ' | ' | ' |
Total | ' | ' | ' |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Indefinite-lived trademarks | 207 | 220 | 220 |
Goodwill | 1,634 | 1,626 | 1,595 |
Definite lived intangibles | 649 | 737 | ' |
Property, plant, and equipment | 1,266 | 1,216 | 1,250 |
Total | $3,756 | $3,799 | $3,065 |
Goodwill_Intangible_Assets_And2
Goodwill, Intangible Assets And Deferred Costs (Narrative) (Details) (USD $) | Sep. 28, 2013 |
In Millions, unless otherwise specified | |
Goodwill, Intangible Assets And Deferred Costs [Abstract] | ' |
Future amortization expense, 2014 | $96 |
Future amortization expense, 2015 | 88 |
Future amortization expense, 2016 | 81 |
Future amortization expense, 2017 | 69 |
Future amortization expense, 2018 | $49 |
Goodwill_Intangible_Assets_And3
Goodwill, Intangible Assets And Deferred Costs (Schedule Of Intangible Assets, Goodwill And Deferred Costs) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 |
In Millions, unless otherwise specified | Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Other Intangible Assets [Member] | Other Intangible Assets [Member] | Other Intangible Assets [Member] | Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||
Customer Relationships [Member] | Other Intangible Assets [Member] | Trademarks [Member] | Customer Relationships [Member] | Other Intangible Assets [Member] | Trademarks [Member] | |||||||||||||||||
Goodwill, Intangible Assets And Deferred Costs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees | $48 | $104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees, accumulated amortization | -18 | -51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees, net | 30 | 53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 1,634 | 1,626 | 1,595 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite intangible assets | ' | ' | ' | 283 | 289 | 286 | 1,134 | 1,153 | 1,178 | 107 | 99 | 82 | 76 | 69 | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 207 | 220 | ' | ' | ' | ' | ' | ' |
Finite intangible assets, accumulated amortization | -668 | -584 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | 856 | 957 | 1,044 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total goodwill, intangible assets and deferred costs | $2,520 | $2,636 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite intangible assets, amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | '10 years | '8 years | '20 years | '20 years | '15 years |
Lease_And_Other_Commitments_An2
Lease And Other Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
item | |||
employee | |||
Lease And Other Commitments And Contingencies [Line Items] | ' | ' | ' |
New capital lease obligations | $49 | $7 | $29 |
Lease expirations, final year | '2020 | ' | ' |
Minimum lease payments or contingent rentals | 16 | 15 | ' |
Asset retirement obligations | 6 | 5 | ' |
Rent expense from operating leases | 53 | 56 | 59 |
Sale leaseback transaction, net proceeds | ' | 20 | ' |
Sale leaseback transaction, deferred gain | ' | $1 | ' |
Number of employees | 15,000 | ' | ' |
Percentage of employees covered by collective bargaining agreements | 12.00% | ' | ' |
Number of collective bargaining agreements | 10 | ' | ' |
Scheduled For Renegotiation In Fiscal 2013 [Member] | ' | ' | ' |
Lease And Other Commitments And Contingencies [Line Items] | ' | ' | ' |
Number of employees | 30 | ' | ' |
Number of collective bargaining agreements | 1 | ' | ' |
Lease_And_Other_Commitments_An3
Lease And Other Commitments And Contingencies (Schedule Of Future Minimum Payments For Capital And Operating Leases) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Lease And Other Commitments And Contingencies [Abstract] | ' | ' |
Capital Leases, 2014 | $30 | ' |
Capital Leases, 2015 | 33 | ' |
Capital Leases, 2016 | 20 | ' |
Capital Leases, 2017 | 12 | ' |
Capital Leases, 2018 | 11 | ' |
Capital Leases, Thereafter | 21 | ' |
Capital Leases, Total net minimum payments | 127 | ' |
Capital Leases, Less: amount representing interest | -15 | ' |
Capital Leases, Present value of net minimum lease payments | 112 | ' |
Operating Leases, 2014 | ' | 44 |
Operating Leases, 2015 | ' | 41 |
Operating Leases, 2016 | ' | 39 |
Operating Leases, 2017 | ' | 34 |
Operating Leases, 2018 | ' | 29 |
Operating Leases, Thereafter | ' | 114 |
Operating Leases, Total net minimum payments | ' | $301 |
Accrued_Expenses_Other_Current2
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities (Summary Of Accrued Expenses And Other Current Liabilities) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Employee compensation, payroll and other taxes | $86 | $95 |
Interest | 45 | 60 |
Rebates | 55 | 68 |
TRA obligation | 32 | ' |
Other | 58 | 77 |
Total accrued liabilities, current | 276 | 300 |
Parent Company [Member] | ' | ' |
Total accrued liabilities, current | ' | $18 |
Accrued_Expenses_Other_Current3
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities (Summary Of Other Long-Term Liabilities) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Accrued Expenses, Other Current Liabilities And Other Long-Term Liabilities [Abstract] | ' | ' |
Lease retirement obligation | $22 | $20 |
Sale-lease back deferred gain | 32 | 34 |
Pension liability | 43 | 84 |
TRA obligation | 277 | ' |
Other | 13 | 28 |
Other long-term liabilities | $387 | $166 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Income Taxes [Line Items] | ' | ' | ' | ' |
U.S. income (loss) from continuing operations before income taxes | ' | $77 | $2 | ($342) |
Non-U.S. income (loss) from continuing operations before income taxes | ' | 8 | 2 | -4 |
AMT credit carryforwards | ' | 9 | ' | ' |
Deferred tax assets, valuation allowance | ' | 59 | 51 | ' |
Federal research and development tax credits | 1 | ' | ' | ' |
Cash paid for taxes | ' | 3 | 2 | 2 |
Unrecognized tax benefits that would affect effective tax rate if recognized | ' | 7 | 5 | ' |
Interest and penalties accrued for uncertain tax positions | ' | 1 | ' | ' |
Additional Paid in Capital | 308 | 322 | 131 | ' |
Federal [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carryforwards | ' | 824 | ' | ' |
Net operating loss carryforwards, expirations | ' | 'beginning 2025 through 2031. | ' | ' |
Foreign [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carryforwards | ' | $117 | ' | ' |
Minimum [Member] | Federal [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Open tax years | ' | '2004 | ' | ' |
Maximum [Member] | Federal [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Open tax years | ' | '2009 | ' | ' |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Tax Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Current - Federal | ' | ($3) | ' |
Current - State | 2 | ' | 1 |
Current - Non-U.S. | 4 | 4 | 3 |
Current income tax provision | 6 | 1 | 4 |
Deferred - Federal | 26 | 3 | -57 |
Deferred - State | -3 | -1 | 7 |
Deferred - Non-U.S. | -1 | -1 | -1 |
Deferred income tax expense (benefit) | 22 | 1 | -51 |
Expense (benefit) for income taxes | $28 | $2 | ($47) |
Income_Taxes_Reconciliation_Fr
Income Taxes (Reconciliation From Federal Income Tax To Tax Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
U.S. Federal income tax expense (benefit) at the statutory rate | $29 | $1 | ($121) |
U.S. State income tax expense, net of valuation allowance | -1 | -1 | 8 |
Impairment of goodwill | ' | ' | 58 |
Permanent differences | ' | 1 | 1 |
Transaction costs | ' | ' | 1 |
Changes in foreign valuation allowance | 1 | 1 | 3 |
Rate differences between U.S. and foreign | -2 | 1 | 1 |
Other | 1 | -1 | 2 |
Expense (benefit) for income taxes | $28 | $2 | ($47) |
Income_Taxes_Components_Of_Net
Income Taxes (Components Of Net Deferred Income Tax Liability) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Allowance for doubtful accounts | $3 | $4 |
Deferred gain on sale-leaseback | 14 | 15 |
Accrued liabilities and reserves | 34 | 60 |
Inventories | 9 | 8 |
Net operating loss carryforward | 343 | 393 |
Alternative minimum tax (AMT) credit carryforward | 9 | 9 |
Federal and state tax credits | 14 | ' |
Other | 7 | 6 |
Total deferred tax assets | 433 | 495 |
Valuation allowance | -59 | -51 |
Total deferred tax assets, net of valuation allowance | 374 | 444 |
Property, plant and equipment | 187 | 190 |
Intangible assets | 300 | 322 |
Debt extinguishment | 132 | 132 |
Other | 1 | 1 |
Total deferred tax liabilities | 620 | 645 |
Net deferred tax liability | ($246) | ($201) |
Income_Taxes_Activity_Related_
Income Taxes (Activity Related To Gross Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Income Taxes [Abstract] | ' | ' |
Beginning unrecognized tax benefits | $8 | $33 |
Gross increases - tax positions in prior periods | 6 | 2 |
Gross decreases - tax positions in prior periods | ' | -25 |
Gross increases - current period tax positions | 1 | ' |
Settlements | -1 | ' |
Lapse of statue of limitations | ' | -2 |
Ending unrecognized tax benefits | $14 | $8 |
Retirement_Plan_Narrative_Deta
Retirement Plan (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
item | |||
Retirement Plan [Line Items] | ' | ' | ' |
Number of defined contribution plans | 2 | ' | ' |
Defined contribution plan expense | $7 | $7 | $6 |
Number of multiemployer plans | 1 | ' | ' |
Net unrealized defined benefit losses in accumulated other comprehensive loss | 20 | ' | ' |
Amount expected to be amortized from accumulated other comprehensive loss in 2013 | 0 | ' | ' |
Assumed health care cost trend rate | 7.00% | ' | ' |
Plan assets | 141 | 129 | ' |
Defined Benefit Pension Plans [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
Number of defined benefit plans | 3 | ' | ' |
PBO | 178 | 207 | 179 |
Plan assets | 141 | 129 | 109 |
Foreign Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
PBO | 3 | ' | ' |
Retiree Health Plan [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
PBO | 2 | 3 | 4 |
Growth Investments [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
Target allocation for plan assets, minimum | 40.00% | ' | ' |
Target allocation for plan assets, maximum | -50.00% | ' | ' |
Fixed Income Investments [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
Target allocation for plan assets, minimum | 40.00% | ' | ' |
Target allocation for plan assets, maximum | -50.00% | ' | ' |
Other Asset Categories [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
Target allocation for plan assets, minimum | 5.00% | ' | ' |
Target allocation for plan assets, maximum | -10.00% | ' | ' |
10 1/4% Senior Subordinated Notes [Member] | ' | ' | ' |
Retirement Plan [Line Items] | ' | ' | ' |
Plan assets | $1 | ' | ' |
Debt instrument, interest rate | 10.25% | ' | ' |
Retirement_Plan_Schedule_Of_Pr
Retirement Plan (Schedule Of Projected Benefit Obligations And Change In Fair Value Of Plan Assets) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | ' | ' | ' |
Interest cost | 7 | 8 | 9 |
Plan assets at beginning of period | 129 | ' | ' |
Plan assets at end of period | 141 | 129 | ' |
Defined Benefit Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
PBO at beginning of period | 207 | 179 | ' |
Interest cost | 7 | 8 | ' |
Actuarial loss (gain) | -27 | 29 | ' |
Benefits paid | -9 | -9 | ' |
PBO at end of period | 178 | 207 | ' |
Plan assets at beginning of period | 129 | 109 | ' |
Actual return on plan assets | 14 | 20 | ' |
Company contributions | 7 | 9 | ' |
Plan assets at end of period | 141 | 129 | ' |
Net amount recognized | -37 | -78 | ' |
Retiree Health Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
PBO at beginning of period | 3 | 4 | ' |
Benefits paid | -1 | -1 | ' |
PBO at end of period | 2 | 3 | ' |
Company contributions | ' | 1 | ' |
Net amount recognized | ($2) | ($3) | ' |
Retirement_Plan_Weighted_Avera
Retirement Plan (Weighted Average Assumptions Used To Determine Benefit Obligation And Benefit Cost) (Details) | 12 Months Ended | |
Sep. 28, 2013 | Sep. 29, 2012 | |
Defined Benefit Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate for benefit obligation | 4.50% | 3.60% |
Discount rate for net benefit cost | 3.60% | 4.40% |
Expected return on plan assets for net benefit costs | 8.00% | 8.00% |
Retiree Health Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate for benefit obligation | 3.10% | 2.40% |
Discount rate for net benefit cost | 2.40% | 4.50% |
Expected return on plan assets for net benefit costs | 8.00% | 8.00% |
Retirement_Plan_Schedule_Of_Pl
Retirement Plan (Schedule Of Plan Asset Fair Values) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | $141 | $129 |
Cash And Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 5 | 4 |
U.S. Large Cap Comingled Equity Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 46 | 40 |
U.S. Mid Cap Equity Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 15 | 13 |
U.S. Small Cap Equity Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8 | 7 |
International Equity Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 12 | 13 |
Real Estate Equity Investment Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 4 | 4 |
Corporate Bond Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 33 | 22 |
Corporate Bond [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8 | 15 |
Guaranteed Investment Account [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 10 | 11 |
Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 77 | 63 |
Level 1 [Member] | Cash And Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 5 | 4 |
Level 1 [Member] | U.S. Mid Cap Equity Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 15 | 13 |
Level 1 [Member] | U.S. Small Cap Equity Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8 | 7 |
Level 1 [Member] | International Equity Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 12 | 13 |
Level 1 [Member] | Real Estate Equity Investment Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 4 | 4 |
Level 1 [Member] | Corporate Bond Mutual Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 33 | 22 |
Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 54 | 55 |
Level 2 [Member] | U.S. Large Cap Comingled Equity Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 46 | 40 |
Level 2 [Member] | Corporate Bond [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8 | 15 |
Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 10 | 11 |
Level 3 [Member] | Guaranteed Investment Account [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | $10 | $11 |
Retirement_Plan_Schedule_Of_Ex
Retirement Plan (Schedule Of Expected Benefit Payments) (Details) (USD $) | Sep. 28, 2013 |
In Millions, unless otherwise specified | |
Defined Benefit Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $9 |
2015 | 10 |
2016 | 10 |
2017 | 10 |
2018 | 10 |
2019-2023 | 54 |
Retiree Health Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2019-2023 | $1 |
Retirement_Plan_Schedule_Of_Ne
Retirement Plan (Schedule Of Net Pension And Retiree Health Benefit Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Retirement Plan [Abstract] | ' | ' | ' |
Service cost | ' | ' | ' |
Interest cost | 7 | 8 | 9 |
Amortization | 3 | 2 | 1 |
Expected return on plan assets | -10 | -8 | -9 |
Net periodic benefit cost | ' | $2 | $1 |
Retirement_Plan_Schedule_Of_De
Retirement Plan (Schedule Of Defined Benefit Pension Plan Asset Allocations) (Details) | Sep. 28, 2013 | Sep. 29, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined benefit pension plan asset allocation | 100.00% | 100.00% |
Equity Securities And Equity-Like Instruments [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined benefit pension plan asset allocation | 60.00% | 59.00% |
Debt securities and debt-like [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined benefit pension plan asset allocation | 29.00% | 29.00% |
Other Asset Categories [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined benefit pension plan asset allocation | 11.00% | 12.00% |
Restructuring_And_Impairment_C2
Restructuring And Impairment Charges (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Jun. 29, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
segment | segment | |||||||||||
Number of reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 4 | ' | ' |
Net sales | $1,204 | $1,221 | $1,150 | $1,072 | $1,204 | $1,242 | $1,183 | $1,137 | ' | $4,647 | $4,766 | $4,561 |
Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 20 | ' |
Engineered Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of facilities closed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71 | 106 |
Rigid Closed Top, Engineered Materials, And Flexible Packaging Afected By Closures [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 35 |
Flexible Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | 24 |
Rigid Closed Top Affected By Closures [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | 14 |
Certain Intangible Assets Redeemed [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non cash assets impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6 | ' |
Restructuring_And_Impairment_C3
Restructuring And Impairment Charges (Schedule Of Estimated Costs For Restructuring Programs) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 28, 2013 |
Restructuring Cost and Reserve [Line Items] | ' |
Expected Total Costs | $205 |
Cumulative charges through Fiscal 2013 | 202 |
To be Recognized in Future | 3 |
Employee Severance And Benefits [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Expected Total Costs | 39 |
Cumulative charges through Fiscal 2013 | 39 |
Facilities Exit Costs [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Expected Total Costs | 56 |
Cumulative charges through Fiscal 2013 | 53 |
To be Recognized in Future | 3 |
Asset Impairment [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Expected Total Costs | 106 |
Cumulative charges through Fiscal 2013 | 106 |
Other Restructuring [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Expected Total Costs | 4 |
Cumulative charges through Fiscal 2013 | $4 |
Restructuring_And_Impairment_C4
Restructuring And Impairment Charges (Components Of Restructuring Charges By Segment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance & termination benefits | $5 | $7 | $11 |
Facility exit costs and other | 3 | 4 | 10 |
Non-cash asset impairment | 6 | 20 | 35 |
Total | 14 | 31 | 56 |
Rigid Open Top [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance & termination benefits | 1 | ' | 2 |
Total | 1 | ' | 2 |
Rigid Closed Top [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance & termination benefits | 2 | 3 | 3 |
Facility exit costs and other | 1 | 2 | 1 |
Non-cash asset impairment | ' | 4 | 4 |
Total | 3 | 9 | 8 |
Engineered Materials [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance & termination benefits | 2 | 4 | 2 |
Facility exit costs and other | 1 | 2 | 7 |
Non-cash asset impairment | 6 | 16 | 22 |
Total | 9 | 22 | 31 |
Flexible Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance & termination benefits | ' | ' | 4 |
Facility exit costs and other | 1 | ' | 2 |
Non-cash asset impairment | ' | ' | 9 |
Total | $1 | ' | $15 |
Restructuring_And_Impairment_C5
Restructuring And Impairment Charges (Summary Of Activity In Restructuring Accrual) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Beginning balance | $7 | $7 | ' |
Charges | 14 | 31 | 56 |
Non-cash asset impairment | -6 | -20 | ' |
Cash payments | -11 | -11 | ' |
Ending balance | 4 | 7 | 7 |
Employee Severance And Benefits [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Beginning balance | 4 | 4 | ' |
Charges | 5 | 7 | ' |
Cash payments | -7 | -7 | ' |
Ending balance | 2 | 4 | ' |
Facilities Exit Costs [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Beginning balance | 3 | 3 | ' |
Charges | 3 | 4 | ' |
Cash payments | -4 | -4 | ' |
Ending balance | 2 | 3 | ' |
Non-Cash Charges [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Charges | 6 | 20 | ' |
Non-cash asset impairment | ($6) | ($20) | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Oct. 01, 2011 | Oct. 31, 2012 | Feb. 29, 2012 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 29, 2012 | Oct. 01, 2011 | Sep. 29, 2012 |
Apollo And Graham [Member] | Apollo And Graham [Member] | Entities Affiliated With Apollo [Member] | Entities Affiliated With Apollo [Member] | Entities Affiliated With Apollo [Member] | Entities Affiliated With Apollo [Member] | Entities Affiliated With Graham [Member] | Entities Affiliated With Graham [Member] | Berry Management and Sponsors [Member] | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential management fee | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential management fee as a percentage of EBITDA | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management fee | ' | ' | 9 | 9 | ' | ' | 8 | 6 | 1 | 1 | ' |
Transaction fee received | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | 5 |
Underwriting fees | ' | ' | 1 | ' | 1 | 1 | ' | ' | ' | ' | ' |
Payment to acquire assignments | ' | 21 | ' | ' | ' | ' | 14 | ' | ' | ' | ' |
Unsecured Long-term Debt, Noncurrent | ' | $21 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Aug. 31, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Oct. 02, 2010 | Oct. 02, 2006 |
Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' |
Shares authorized for grant | ' | ' | 9,297,750 | ' | ' | 7,071,337 |
Additional shares authorized for grant | ' | ' | ' | ' | 5,267,500 | ' |
Vesting period | ' | '10 years | ' | ' | ' | ' |
Stock based compensation expense | $8 | $16 | $2 | $2 | ' | ' |
Options exercised or cash settled amount | ' | -40 | ' | ' | ' | ' |
Redeemable shares | ' | ' | $23 | ' | ' | ' |
Common Stock, Shares Authorized | ' | 400,000,000 | 400,000,000 | ' | ' | ' |
Stockholders_Equity_Schedule_O
Stockholders' Equity (Schedule Of Stock Option Activity) (Details) (USD $) | 12 Months Ended | |
Sep. 28, 2013 | Sep. 29, 2012 | |
Stockholders' Equity [Abstract] | ' | ' |
Options outstanding, beginning of period | 10,741,090 | 10,826,232 |
Options granted | 2,818,700 | 695,898 |
Options exercised or cash settled | -3,333,153 | -175,412 |
Options forfeited or cancelled | -191,408 | -605,628 |
Options outstanding, end of period | 10,035,229 | 10,741,090 |
Options outstanding, beginning of period, weighted average exercise price | $7.76 | $7.70 |
Options granted, weighted average exercise price | $16.01 | $10.57 |
Options exercised or cash settled, weighted average exercise price | $7.97 | $7.33 |
Options forfeited or cancelled, weighted average exercise price | $10.14 | $7.43 |
Options outstanding, end of period, weighted average exercise price | $9.96 | $7.76 |
Range of exercise price, lower limit | $3.04 | $3.04 |
Range of exercise price, upper limit | $17.59 | ($15.04) |
Options exercisable at end of period | 5,182,027 | 7,327,612 |
Options available for grant at period end | 8,076,290 | 1,597,240 |
Weighted average fair value of options granted during period | $6.15 | $2.71 |
Stockholders_Equity_Schedule_O1
Stockholders' Equity (Schedule Of Assumptions Used For Options Granted) (Details) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | |
Stockholders' Equity [Abstract] | ' | ' | ' |
Risk-free interest rate, minimum | 0.60% | 0.60% | ' |
Risk-free interest rate, maximum | 0.90% | 0.90% | ' |
Risk-free interest rate | ' | ' | 1.30% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility factor | 0.38% | 0.38% | ' |
Volatility factor, minimum | ' | ' | 0.32% |
Volatility factor, maximum | ' | ' | 0.34% |
Expected option life | '7 years | '5 years | '5 years |
Stockholders_Equity_Summary_Of
Stockholders' Equity (Summary Of Options Outstanding By Exercise Price Range) (Details) (USD $) | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Stockholders' Equity [Abstract] | ' | ' |
Range of exercise price, lower limit | $3.04 | $3.04 |
Range of exercise price, upper limit | $17.59 | ($15.04) |
Number outstanding | 10,035,229 | ' |
Intrinsic value of outstanding | $106 | ' |
Weighted average remaining contractual life | '6 years | ' |
Weighted average exercise price | $9.96 | ' |
Number exercisable | 5,182,027 | 7,327,612 |
Intrinsic value of exercisable | 64 | ' |
Unrecognized compensation | $15 | ' |
Weighted recognition period | '2 years | ' |
Segment_And_Geographic_Data_Na
Segment And Geographic Data (Narrative) (Details) | 9 Months Ended | 12 Months Ended |
Jun. 29, 2013 | Sep. 28, 2013 | |
segment | segment | |
Segment Reporting Information [Line Items] | ' | ' |
Number of reporting segments | 4 | 4 |
Net Sales [Member] | North America [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | ' | 96.00% |
Long-Lived Assets [Member] | North America [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | ' | 98.00% |
Assets, Total [Member] | North America [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Concentration risk, percentage | ' | 97.00% |
Segment_And_Geographic_Data_Su
Segment And Geographic Data (Summary Of Selected Information By Reportable Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,204 | $1,221 | $1,150 | $1,072 | $1,204 | $1,242 | $1,183 | $1,137 | $4,647 | $4,766 | $4,561 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 386 | 325 | 42 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 341 | 355 | 344 |
Rigid Open Top [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,127 | 1,229 | 1,261 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 123 | 159 | 155 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 90 | 90 | 102 |
Rigid Closed Top [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,387 | 1,438 | 1,053 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 130 | 95 | 77 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 129 | 135 | 95 |
Engineered Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,397 | 1,362 | 1,451 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 116 | 70 | -71 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 71 | 71 | 72 |
Flexible Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 736 | 737 | 796 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 1 | -119 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | $51 | $59 | $75 |
Segment_And_Geographic_Data_Su1
Segment And Geographic Data (Summary Of Assets And Goodwill By Segment) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
In Millions, unless otherwise specified | |||
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | $5,135 | $5,106 | ' |
Goodwill | 1,634 | 1,626 | 1,595 |
Rigid Open Top [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 1,805 | 1,773 | ' |
Goodwill | 681 | 681 | 681 |
Rigid Closed Top [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 1,964 | 1,959 | ' |
Goodwill | 831 | 832 | 819 |
Engineered Materials [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 817 | 873 | ' |
Goodwill | 73 | 73 | 55 |
Flexible Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 549 | 501 | ' |
Goodwill | $49 | $40 | $40 |
Net_Income_Loss_Per_Share_Narr
Net Income (Loss) Per Share (Narrative) (Details) | 12 Months Ended |
Oct. 01, 2011 | |
Net Income (Loss) Per Share [Abstract] | ' |
Antidilutive shares excluded from caluculation | 10,826,232 |
Net_Income_Loss_Per_Share_Sche
Net Income (Loss) Per Share (Schedule Of Net Income (Loss) Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Net income (loss) | $26 | $40 | $1 | ($10) | $22 | $9 | $2 | ($31) | $57 | $2 | ($299) |
Weighted average shares of common stock outstanding--basic | ' | ' | ' | ' | ' | ' | ' | ' | 113,486 | 83,435 | 84,121 |
Weighted average shares of common stock outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 113,486 | 83,435 | 84,121 |
Other common stock equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 5,968 | 3,209 | ' |
Weighted Average Number of Shares Outstanding, Diluted, Total | ' | ' | ' | ' | ' | ' | ' | ' | 119,454 | 86,644 | 84,121 |
Basic net income (loss) per share from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $0.02 | ($3.55) |
Basic net income (loss) per share available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | $0.02 | ($3.55) |
Diluted net income (loss) per share from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | $0.48 | $0.02 | ($3.55) |
Diluted net income (loss) per share available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $0.48 | $0.02 | ($3.55) |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | $57 | $2 | ($299) |
Guarantor_And_NonGuarantor_Fin2
Guarantor And Non-Guarantor Financial Information (Condensed Supplemental Consolidated Statements Of Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,204 | $1,221 | $1,150 | $1,072 | $1,204 | $1,242 | $1,183 | $1,137 | $4,647 | $4,766 | $4,561 |
Cost of sales | 1,006 | 998 | 936 | 895 | 977 | 1,028 | 972 | 972 | 3,835 | 3,984 | 3,908 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 412 | 426 | 390 |
Restructuring and impairment charges, net | ' | ' | ' | ' | ' | ' | ' | ' | 14 | 31 | 221 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 386 | 325 | 42 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 57 | -7 | 61 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 244 | 328 | 327 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 85 | 4 | -346 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 2 | -47 |
Net income (loss) | 26 | 40 | 1 | -10 | 22 | 9 | 2 | -31 | 57 | 2 | -299 |
Currency translation | ' | ' | ' | ' | ' | ' | ' | ' | -5 | 6 | -10 |
Interest rate hedges | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 4 | -8 |
Defined benefit pension and retiree health benefit plans | ' | ' | ' | ' | ' | ' | ' | ' | 34 | -14 | -14 |
Provision for income taxes related to other comprehensive income items | ' | ' | ' | ' | ' | ' | ' | ' | -20 | 5 | 7 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 86 | 3 | -324 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 47 | 54 | 50 |
Equity in net income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -132 | -58 | 296 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 85 | 4 | -346 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 2 | -47 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 57 | 2 | -299 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 57 | 2 | -299 |
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 571 | 579 | 695 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 506 | 520 | 617 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 58 | 62 | 65 |
Restructuring and impairment charges, net | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 30 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 6 | -4 | -17 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 56 | -7 | 62 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 24 | 39 | 49 |
Equity in net income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -297 | -173 | 85 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 223 | 137 | -213 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 80 | 46 | 16 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 143 | 91 | -229 |
Interest rate hedges | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 4 | -8 |
Defined benefit pension and retiree health benefit plans | ' | ' | ' | ' | ' | ' | ' | ' | 34 | ' | ' |
Provision for income taxes related to other comprehensive income items | ' | ' | ' | ' | ' | ' | ' | ' | -20 | -1 | 2 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 177 | 94 | -235 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,706 | 3,829 | 3,503 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,021 | 3,151 | 2,948 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 314 | 329 | 295 |
Restructuring and impairment charges, net | ' | ' | ' | ' | ' | ' | ' | ' | 13 | 29 | 190 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 358 | 320 | 70 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | -1 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 201 | 261 | 249 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 156 | 59 | -178 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | -29 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 156 | 58 | -149 |
Defined benefit pension and retiree health benefit plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14 | -14 |
Provision for income taxes related to other comprehensive income items | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 5 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 156 | 50 | -158 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 370 | 358 | 363 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 308 | 313 | 343 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 40 | 35 | 30 |
Restructuring and impairment charges, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 22 | 9 | -11 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -120 | -110 | -77 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 142 | 119 | 66 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 3 | 2 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 140 | 116 | 64 |
Currency translation | ' | ' | ' | ' | ' | ' | ' | ' | -5 | 6 | -10 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 135 | 122 | 54 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 92 | 84 | 56 |
Equity in net income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 429 | 231 | -381 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -521 | -315 | 325 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -82 | -50 | 11 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -439 | -265 | 314 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($439) | ($265) | $314 |
Guarantor_And_NonGuarantor_Fin3
Guarantor And Non-Guarantor Financial Information (Condensed Supplemental Consolidated Balance Sheet) (Details) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Oct. 02, 2010 |
In Millions, unless otherwise specified | ||||
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $142 | $87 | $42 | $148 |
Accounts receivable, net of allowance | 449 | 455 | ' | ' |
Inventories | 575 | 535 | ' | ' |
Deferred income taxes | 139 | 114 | ' | ' |
Prepaid expenses and other current | ' | 156 | ' | ' |
Prepaid expenses and other current | 32 | 42 | ' | ' |
Total current assets | 1,337 | 1,233 | ' | ' |
Property, plant and equipment, net | 1,266 | 1,216 | ' | ' |
Intangible assets, net | 2,520 | 2,636 | ' | ' |
Investment in Subsidiaries | 4 | ' | ' | ' |
Other assets | 12 | 21 | ' | ' |
Total assets | 5,135 | 5,106 | ' | ' |
Accounts payable | 337 | 306 | ' | ' |
Accrued and other current liabilities | 276 | 300 | ' | ' |
Long-term debt - current portion | 71 | 40 | ' | ' |
Current liabilities | 684 | 646 | ' | ' |
Long-term debt | 3,875 | 4,431 | ' | ' |
Deferred tax liabilities | 385 | 315 | ' | ' |
Other long-term liabilities | 387 | 166 | ' | ' |
Total long-term liabilities | ' | 4,912 | ' | ' |
Total liabilities | 5,331 | 5,558 | ' | ' |
Redeemable shares | ' | 23 | ' | ' |
Other equity | ' | -475 | ' | ' |
Equity (deficit) | -196 | -475 | -467 | -141 |
Total liabilities and stockholders' equity (deficit) | 5,135 | 5,106 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Intercompany receivable | ' | 243 | ' | ' |
Prepaid expenses and other current | ' | 120 | ' | ' |
Total current assets | ' | 363 | ' | ' |
Intangible assets, net | ' | 8 | ' | ' |
Investment in Subsidiaries | ' | 254 | ' | ' |
Total assets | ' | 625 | ' | ' |
Accrued and other current liabilities | ' | 18 | ' | ' |
Current liabilities | ' | 18 | ' | ' |
Long-term debt | ' | 736 | ' | ' |
Deferred tax liabilities | ' | 315 | ' | ' |
Other long-term liabilities | ' | 8 | ' | ' |
Total long-term liabilities | ' | 1,059 | ' | ' |
Total liabilities | ' | 1,077 | ' | ' |
Redeemable shares | ' | 23 | ' | ' |
Other equity | ' | -475 | ' | ' |
Equity (deficit) | ' | -452 | ' | ' |
Total liabilities and stockholders' equity (deficit) | ' | 625 | ' | ' |
Issuer [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 116 | 66 | 20 | 132 |
Accounts receivable, net of allowance | ' | 60 | ' | ' |
Intercompany receivable | ' | 3,800 | ' | ' |
Inventories | ' | 83 | ' | ' |
Prepaid expenses and other current | ' | 17 | ' | ' |
Total current assets | ' | 4,026 | ' | ' |
Property, plant and equipment, net | ' | 113 | ' | ' |
Intangible assets, net | ' | 184 | ' | ' |
Investment in Subsidiaries | ' | 615 | ' | ' |
Other assets | ' | 10 | ' | ' |
Total assets | ' | 4,948 | ' | ' |
Accounts payable | ' | 84 | ' | ' |
Accrued and other current liabilities | ' | 159 | ' | ' |
Long-term debt - current portion | ' | 35 | ' | ' |
Current liabilities | ' | 278 | ' | ' |
Long-term debt | ' | 4,542 | ' | ' |
Other long-term liabilities | ' | 37 | ' | ' |
Total long-term liabilities | ' | 4,579 | ' | ' |
Total liabilities | ' | 4,857 | ' | ' |
Other equity | ' | 91 | ' | ' |
Equity (deficit) | ' | 91 | ' | ' |
Total liabilities and stockholders' equity (deficit) | ' | 4,948 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Intercompany receivable | ' | -4,117 | ' | ' |
Prepaid expenses and other current | ' | -11 | ' | ' |
Total current assets | ' | -4,128 | ' | ' |
Intangible assets, net | ' | -10 | ' | ' |
Investment in Subsidiaries | ' | -869 | ' | ' |
Other assets | ' | -637 | ' | ' |
Total assets | ' | -5,644 | ' | ' |
Accrued and other current liabilities | ' | -13 | ' | ' |
Intercompany payable | ' | -4,117 | ' | ' |
Current liabilities | ' | -4,130 | ' | ' |
Long-term debt | ' | -850 | ' | ' |
Other long-term liabilities | ' | -3 | ' | ' |
Total long-term liabilities | ' | -853 | ' | ' |
Total liabilities | ' | -4,983 | ' | ' |
Other equity | ' | -661 | ' | ' |
Equity (deficit) | ' | -661 | ' | ' |
Total liabilities and stockholders' equity (deficit) | ' | -5,644 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | 5 | 2 |
Accounts receivable, net of allowance | ' | 336 | ' | ' |
Intercompany receivable | ' | 74 | ' | ' |
Inventories | ' | 414 | ' | ' |
Prepaid expenses and other current | ' | 9 | ' | ' |
Total current assets | ' | 833 | ' | ' |
Property, plant and equipment, net | ' | 1,023 | ' | ' |
Intangible assets, net | ' | 2,343 | ' | ' |
Other assets | ' | 10 | ' | ' |
Total assets | ' | 4,209 | ' | ' |
Accounts payable | ' | 195 | ' | ' |
Accrued and other current liabilities | ' | 120 | ' | ' |
Intercompany payable | ' | 3,966 | ' | ' |
Current liabilities | ' | 4,281 | ' | ' |
Other long-term liabilities | ' | 119 | ' | ' |
Total long-term liabilities | ' | 119 | ' | ' |
Total liabilities | ' | 4,400 | ' | ' |
Other equity | ' | -191 | ' | ' |
Equity (deficit) | ' | -191 | ' | ' |
Total liabilities and stockholders' equity (deficit) | ' | 4,209 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 26 | 21 | 17 | 14 |
Accounts receivable, net of allowance | ' | 59 | ' | ' |
Inventories | ' | 38 | ' | ' |
Prepaid expenses and other current | ' | 21 | ' | ' |
Total current assets | ' | 139 | ' | ' |
Property, plant and equipment, net | ' | 80 | ' | ' |
Intangible assets, net | ' | 111 | ' | ' |
Other assets | ' | 638 | ' | ' |
Total assets | ' | 968 | ' | ' |
Accounts payable | ' | 27 | ' | ' |
Accrued and other current liabilities | ' | 16 | ' | ' |
Intercompany payable | ' | 151 | ' | ' |
Long-term debt - current portion | ' | 5 | ' | ' |
Current liabilities | ' | 199 | ' | ' |
Long-term debt | ' | 3 | ' | ' |
Other long-term liabilities | ' | 5 | ' | ' |
Total long-term liabilities | ' | 8 | ' | ' |
Total liabilities | ' | 207 | ' | ' |
Other equity | ' | 761 | ' | ' |
Equity (deficit) | ' | 761 | ' | ' |
Total liabilities and stockholders' equity (deficit) | ' | 968 | ' | ' |
Redeemable Preferred Stock [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Equity (deficit) | ' | ($452) | ' | ' |
Guarantor_And_NonGuarantor_Fin4
Guarantor And Non-Guarantor Financial Information (Condensed Supplemental Consolidated Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Oct. 02, 2010 |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash Flow from Operating Activities | $464 | $479 | $327 | ' |
Additions to property and equipment | -239 | -230 | -160 | ' |
Proceeds from disposal of assets | 18 | 30 | 5 | ' |
Acquisition of business net of cash acquired | -24 | -55 | -368 | ' |
Net cash from investing activities | -245 | -255 | -523 | ' |
Proceeds from long-term debt | 1,391 | 2 | 995 | ' |
IPO proceeds | 438 | ' | ' | ' |
Payment of TRA | -5 | ' | ' | ' |
Proceeds from issuance of common stock | 27 | ' | ' | ' |
Repayment of notes receivable | 2 | ' | ' | ' |
Equity contributions (distributions), net | ' | -6 | -2 | ' |
Repayments on long-term borrowings | -1,978 | -175 | -880 | ' |
Deferred financing costs | -39 | ' | -23 | ' |
Net cash from financing activities | -164 | -179 | 90 | ' |
Net change in cash and cash equivalents | 55 | 45 | -106 | -106 |
Cash and cash equivalents at beginning of period | 87 | 42 | 148 | ' |
Cash and cash equivalents at end of period | 142 | 87 | 42 | 148 |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash Flow from Operating Activities | ' | ' | 2 | ' |
(Contributions) distributions to/from subsidiaries | -462 | 16 | ' | ' |
Net cash from investing activities | -462 | 16 | ' | ' |
IPO proceeds | 438 | ' | ' | ' |
Payment of TRA | -5 | ' | ' | ' |
Proceeds from issuance of common stock | 27 | ' | ' | ' |
Repayment of notes receivable | 2 | ' | ' | ' |
Equity contributions (distributions), net | ' | ' | -2 | ' |
Repayments on long-term borrowings | ' | -16 | ' | ' |
Net cash from financing activities | 462 | -16 | -2 | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash Flow from Operating Activities | 417 | 504 | 322 | ' |
Additions to property and equipment | -218 | -209 | -138 | ' |
Proceeds from disposal of assets | 17 | 30 | 5 | ' |
Acquisition of business net of cash acquired | -24 | 7 | ' | ' |
Net cash from investing activities | -225 | -172 | -133 | ' |
Changes in intercompany balances | -192 | -337 | -186 | ' |
Net cash from financing activities | -192 | -337 | -186 | ' |
Net change in cash and cash equivalents | ' | -5 | ' | 3 |
Cash and cash equivalents at beginning of period | ' | 5 | 2 | ' |
Cash and cash equivalents at end of period | ' | ' | 5 | 2 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash Flow from Operating Activities | 63 | -3 | -11 | ' |
Additions to property and equipment | -14 | -12 | -6 | ' |
Equity in net income of subsidiaries | -21 | -4 | ' | ' |
Investment in Issuer debt securities | ' | ' | -39 | ' |
Acquisition of business net of cash acquired | ' | -62 | ' | ' |
Net cash from investing activities | -35 | -78 | -45 | ' |
Proceeds from long-term debt | ' | 2 | ' | ' |
Repayments on long-term borrowings | -2 | ' | ' | ' |
Changes in intercompany balances | -15 | 79 | 20 | ' |
Contribution from Parent | 21 | 4 | 39 | ' |
Net cash from financing activities | 4 | 85 | 59 | ' |
Net change in cash and cash equivalents | 5 | 4 | ' | 3 |
Cash and cash equivalents at beginning of period | 21 | 17 | 14 | ' |
Cash and cash equivalents at end of period | 26 | 21 | 17 | 14 |
Eliminations [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash Flow from Operating Activities | ' | ' | -1 | ' |
Equity in net income of subsidiaries | 21 | 4 | ' | ' |
(Contributions) distributions to/from subsidiaries | 21 | 4 | 39 | ' |
Intercompany advances (repayments) | -210 | -258 | -166 | ' |
Investment in Issuer debt securities | ' | ' | 39 | ' |
Net cash from investing activities | -168 | -250 | -88 | ' |
Payment of TRA | 5 | ' | ' | ' |
Repayment of notes receivable | -2 | ' | ' | ' |
Equity contributions (distributions), net | ' | ' | 1 | ' |
Repayments on long-term borrowings | -21 | -4 | -39 | ' |
Changes in intercompany balances | 207 | 258 | 166 | ' |
Contribution from Parent | -21 | -4 | -39 | ' |
Net cash from financing activities | 168 | 250 | 89 | ' |
Issuer [Member] | ' | ' | ' | ' |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Cash Flow from Operating Activities | -16 | -22 | 15 | ' |
Additions to property and equipment | -7 | -9 | -16 | ' |
Proceeds from disposal of assets | 1 | ' | ' | ' |
(Contributions) distributions to/from subsidiaries | 441 | -20 | -39 | ' |
Intercompany advances (repayments) | 210 | 258 | 166 | ' |
Acquisition of business net of cash acquired | ' | ' | -368 | ' |
Net cash from investing activities | 645 | 229 | -257 | ' |
Proceeds from long-term debt | 1,391 | ' | 995 | ' |
Payment of TRA | -5 | ' | ' | ' |
Repayment of notes receivable | 2 | ' | ' | ' |
Equity contributions (distributions), net | ' | -6 | -1 | ' |
Repayments on long-term borrowings | -1,955 | -155 | -841 | ' |
Deferred financing costs | -39 | ' | -23 | ' |
Net cash from financing activities | -606 | -161 | 130 | ' |
Net change in cash and cash equivalents | 50 | 46 | ' | -112 |
Cash and cash equivalents at beginning of period | 66 | 20 | 132 | ' |
Cash and cash equivalents at end of period | $116 | $66 | $20 | $132 |
Quarterly_Financial_Data_Detai
Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,204 | $1,221 | $1,150 | $1,072 | $1,204 | $1,242 | $1,183 | $1,137 | $4,647 | $4,766 | $4,561 |
Cost of sales | 1,006 | 998 | 936 | 895 | 977 | 1,028 | 972 | 972 | 3,835 | 3,984 | 3,908 |
Gross profit | 198 | 223 | 214 | 177 | 227 | 214 | 211 | 165 | ' | ' | ' |
Net income | $26 | $40 | $1 | ($10) | $22 | $9 | $2 | ($31) | $57 | $2 | ($299) |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | 1 Months Ended | |||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Oct. 01, 2011 | Nov. 30, 2013 | Sep. 30, 2013 |
employee | Subsequent Event [Member] | Subsequent Event [Member] | |||
Graphic Packagings Flexible Plastics And Films Business [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' |
Aggregate purchase price | ' | ' | ' | ' | $62 |
Number of employees | 15,000 | ' | ' | ' | ' |
Employees severance and termination benefits | ' | ' | ' | 6 | ' |
Other costs | ' | ' | ' | 30 | ' |
Impairment of Intangible Assets, Finite-lived | 5 | 17 | 165 | ' | ' |
Non cash assets impairment charges | ' | ' | ' | 11 | ' |
Estimates capital expenditures | ' | ' | ' | 13 | ' |
Facility restructuring programs projected amount | ' | ' | ' | $27 | ' |