Supplemental Guarantor Condensed Consolidating Financials | 9 Months Ended |
Jun. 28, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Supplemental Guarantor Condensed Consolidating Financials | ' |
Supplemental Guarantor Condensed Consolidating Financials |
The Company’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by Hologic, Inc. (“Parent/Issuer”) and certain of its domestic subsidiaries, which are 100% owned by Hologic, Inc. The following represents the supplemental condensed financial information of Hologic, Inc. and its guarantor and non-guarantor subsidiaries, as of June 28, 2014 and September 28, 2013 and for the three and nine months ended June 28, 2014 and June 29, 2013, as applicable. |
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Three Months Ended June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | |
Product | $ | 128.4 | | | $ | 386.4 | | | $ | 125.8 | | | $ | (111.3 | ) | | $ | 529.3 | |
|
Service and other | 88.2 | | | 14.4 | | | 13.1 | | | (12.4 | ) | | 103.3 | |
|
| 216.6 | | | 400.8 | | | 138.9 | | | (123.7 | ) | | 632.6 | |
|
Costs of revenues: | | | | | | | | | |
Product | 61.5 | | | 147.3 | | | 89.2 | | | (111.3 | ) | | 186.7 | |
|
Amortization of intangible assets | 1.4 | | | 75.3 | | | 3.8 | | | — | | | 80.5 | |
|
Service and other | 46.8 | | | 5.9 | | | 12.3 | | | (12.4 | ) | | 52.6 | |
|
Gross Profit | 106.9 | | | 172.3 | | | 33.6 | | | — | | | 312.8 | |
|
Operating expenses: | | | | | | | | | |
Research and development | 7.7 | | | 42.9 | | | 1.9 | | | — | | | 52.5 | |
|
Selling and marketing | 16.8 | | | 43.4 | | | 22.8 | | | — | | | 83 | |
|
General and administrative | 15.8 | | | 37.8 | | | 11.1 | | | — | | | 64.7 | |
|
Amortization of intangible assets | 0.6 | | | 26.8 | | | 2.3 | | | — | | | 29.7 | |
|
Restructuring and divestiture charges | 1 | | | 2.9 | | | 2.8 | | | — | | | 6.7 | |
|
| 41.9 | | | 153.8 | | | 40.9 | | | — | | | 236.6 | |
|
Income (loss) from operations | 65 | | | 18.5 | | | (7.3 | ) | | — | | | 76.2 | |
|
Interest income | 0.1 | | | 1.1 | | | 0.2 | | | (1.1 | ) | | 0.3 | |
|
Interest expense | (52.6 | ) | | (0.3 | ) | | (0.6 | ) | | 1.1 | | | (52.4 | ) |
|
Other (expense) income, net | 1.3 | | | (3.0 | ) | | 0.2 | | | — | | | (1.5 | ) |
|
Income (loss) before income taxes | 13.8 | | | 16.3 | | | (7.5 | ) | | — | | | 22.6 | |
|
Provision for income taxes | 6.8 | | | 3.6 | | | 0.9 | | | — | | | 11.3 | |
|
Equity in earnings (losses) of subsidiaries | 4.3 | | | 3.3 | | | — | | | (7.6 | ) | | — | |
|
Net income (loss) | $ | 11.3 | | | $ | 16 | | | $ | (8.4 | ) | | $ | (7.6 | ) | | $ | 11.3 | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Nine Months Ended June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | |
Product | $ | 356.8 | | | $ | 1,154.00 | | | $ | 373.7 | | | $ | (321.7 | ) | | $ | 1,562.80 | |
|
Service and other | 262.7 | | | 47.4 | | | 37.2 | | | (40.0 | ) | | 307.3 | |
|
| 619.5 | | | 1,201.40 | | | 410.9 | | | (361.7 | ) | | 1,870.10 | |
|
Costs of revenues: | | | | | | | | | |
Product | 172.4 | | | 431.7 | | | 266.9 | | | (321.7 | ) | | 549.3 | |
|
Amortization of intangible assets | 4.2 | | | 224 | | | 5.9 | | | — | | | 234.1 | |
|
Impairment of intangible assets | — | | | — | | | 26.6 | | | — | | | 26.6 | |
|
Service and other | 140.3 | | | 27.5 | | | 31.8 | | | (40.0 | ) | | 159.6 | |
|
Gross Profit | 302.6 | | | 518.2 | | | 79.7 | | | — | | | 900.5 | |
|
Operating expenses: | | | | | | | | | |
Research and development | 23 | | | 121.7 | | | 6.4 | | | — | | | 151.1 | |
|
Selling and marketing | 52.6 | | | 126.8 | | | 65.6 | | | — | | | 245 | |
|
General and administrative | 45.5 | | | 114.9 | | | 34.2 | | | — | | | 194.6 | |
|
Amortization of intangible assets | 2.4 | | | 77.9 | | | 4.7 | | | — | | | 85 | |
|
Impairment of intangible assets | — | | | — | | | 0.5 | | | — | | | 0.5 | |
|
Restructuring and divestiture charges | 7.6 | | | 15 | | | 14 | | | — | | | 36.6 | |
|
| 131.1 | | | 456.3 | | | 125.4 | | | — | | | 712.8 | |
|
Income (loss) from operations | 171.5 | | | 61.9 | | | (45.7 | ) | | — | | | 187.7 | |
|
Interest income | 0.3 | | | 2.3 | | | 0.7 | | | (2.5 | ) | | 0.8 | |
|
Interest expense | (168.0 | ) | | (0.8 | ) | | (1.8 | ) | | 2.5 | | | (168.1 | ) |
|
Debt extinguishment loss | (7.4 | ) | | — | | | — | | | — | | | (7.4 | ) |
|
Other (expense) income, net | 7.9 | | | (12.4 | ) | | 1 | | | — | | | (3.5 | ) |
|
Income (loss) before income taxes | 4.3 | | | 51 | | | (45.8 | ) | | — | | | 9.5 | |
|
Provision for income taxes | 5 | | | 9.9 | | | 5.4 | | | — | | | 20.3 | |
|
Equity in earnings (losses) of subsidiaries | (10.1 | ) | | 14.3 | | | — | | | (4.2 | ) | | — | |
|
Net (loss) income | $ | (10.8 | ) | | $ | 55.4 | | | $ | (51.2 | ) | | $ | (4.2 | ) | | $ | (10.8 | ) |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Three Months Ended June 29, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | |
Product | $ | 106.5 | | | $ | 399.1 | | | $ | 114.8 | | | $ | (90.5 | ) | | $ | 529.9 | |
|
Service and other | 81.4 | | | 15.9 | | | 11.3 | | | (12.4 | ) | | 96.2 | |
|
| 187.9 | | | 415 | | | 126.1 | | | (102.9 | ) | | 626.1 | |
|
Costs of revenues: | | | | | | | | | |
Product | 57.7 | | | 143.8 | | | 76.6 | | | (90.5 | ) | | 187.6 | |
|
Amortization of intangible assets | 1.3 | | | 73.7 | | | 1 | | | — | | | 76 | |
|
Impairment of intangible assets | — | | | — | | | 1.7 | | | — | | | 1.7 | |
|
Service and other | 39.1 | | | 14.8 | | | 9.5 | | | (12.4 | ) | | 51 | |
|
Gross profit | 89.8 | | | 182.7 | | | 37.3 | | | — | | | 309.8 | |
|
Operating expenses: | | | | | | | | | |
Research and development | 8 | | | 37.2 | | | 2.6 | | | — | | | 47.8 | |
|
Selling and marketing | 17.9 | | | 43.5 | | | 21.5 | | | — | | | 82.9 | |
|
General and administrative | 20 | | | 31.3 | | | 9.2 | | | — | | | 60.5 | |
|
Amortization of intangible assets | 0.8 | | | 26.7 | | | 1.2 | | | — | | | 28.7 | |
|
Contingent consideration – compensation expense | 21.6 | | | — | | | — | | | — | | | 21.6 | |
|
Contingent consideration – fair value adjustments | 0.5 | | | — | | | — | | | — | | | 0.5 | |
|
Restructuring and divestiture charges | 0.6 | | | 3.7 | | | 2.4 | | | — | | | 6.7 | |
|
| 69.4 | | | 142.4 | | | 36.9 | | | — | | | 248.7 | |
|
Income from operations | 20.4 | | | 40.3 | | | 0.4 | | | — | | | 61.1 | |
|
Interest income | 0.1 | | | — | | | 0.2 | | | — | | | 0.3 | |
|
Interest expense | (66.3 | ) | | (0.3 | ) | | (0.6 | ) | | — | | | (67.2 | ) |
|
Other (expense) income, net | 178.1 | | | (179.2 | ) | | (0.1 | ) | | — | | | (1.2 | ) |
|
(Loss) income before income taxes | 132.3 | | | (139.2 | ) | | (0.1 | ) | | — | | | (7.0 | ) |
|
Provision (benefit) for income taxes | 50.9 | | | (49.9 | ) | | 3 | | | — | | | 4 | |
|
Equity in earnings (losses) of subsidiaries | (92.4 | ) | | 1.1 | | | — | | | 91.3 | | | — | |
|
Net (loss) income | $ | (11.0 | ) | | $ | (88.2 | ) | | $ | (3.1 | ) | | $ | 91.3 | | | $ | (11.0 | ) |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Nine Months Ended June 29, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | |
Product | $ | 305.2 | | | $ | 1,177.70 | | | $ | 365.3 | | | $ | (268.9 | ) | | $ | 1,579.30 | |
|
Service and other | 240.5 | | | 56.5 | | | 34.6 | | | (40.7 | ) | | 290.9 | |
|
| 545.7 | | | 1,234.20 | | | 399.9 | | | (309.6 | ) | | 1,870.20 | |
|
Costs of revenues: | | | | | | | | | |
Product | 163.7 | | | 478.1 | | | 244.3 | | | (268.9 | ) | | 617.2 | |
|
Amortization of intangible assets | 4 | | | 219.8 | | | 3.2 | | | — | | | 227 | |
|
Impairment of intangible assets | — | | | — | | | 1.7 | | | — | | | 1.7 | |
|
Service and other | 118.1 | | | 46.2 | | | 29.9 | | | (40.7 | ) | | 153.5 | |
|
Gross profit | 259.9 | | | 490.1 | | | 120.8 | | | — | | | 870.8 | |
|
Operating expenses: | | | | | | | | | |
Research and development | 22.7 | | | 118.8 | | | 7.4 | | | — | | | 148.9 | |
|
Selling and marketing | 59.1 | | | 136.2 | | | 70.1 | | | — | | | 265.4 | |
|
General and administrative | 52 | | | 101 | | | 26.7 | | | — | | | 179.7 | |
|
Amortization of intangible assets | 2.2 | | | 80.1 | | | 3.6 | | | — | | | 85.9 | |
|
Contingent consideration – compensation expense | 80.5 | | | — | | | — | | | — | | | 80.5 | |
|
Contingent consideration – fair value adjustments | 11.3 | | | — | | | — | | | — | | | 11.3 | |
|
Gain on sale of intellectual property | — | | | (53.9 | ) | | — | | | — | | | (53.9 | ) |
|
Restructuring and divestiture charges | 0.9 | | | 17.7 | | | 4.5 | | | — | | | 23.1 | |
|
| 228.7 | | | 399.9 | | | 112.3 | | | — | | | 740.9 | |
|
Income from operations | 31.2 | | | 90.2 | | | 8.5 | | | — | | | 129.9 | |
|
Interest income | 0.4 | | | 0.1 | | | 0.3 | | | — | | | 0.8 | |
|
Interest expense | (212.9 | ) | | (0.9 | ) | | (1.5 | ) | | — | | | (215.3 | ) |
|
Debt extinguishment loss | (3.2 | ) | | — | | | — | | | — | | | (3.2 | ) |
|
Other income (expense), net | 179.8 | | | (186.3 | ) | | 6.3 | | | — | | | (0.2 | ) |
|
(Loss) income before income taxes | (4.7 | ) | | (96.9 | ) | | 13.6 | | | — | | | (88.0 | ) |
|
(Benefit) provision for income taxes | 24.3 | | | (61.1 | ) | | 7.7 | | | — | | | (29.1 | ) |
|
Equity in earnings (losses) of subsidiaries | (29.9 | ) | | 14.5 | | | — | | | 15.4 | | | — | |
|
Net (loss) income | $ | (58.9 | ) | | $ | (21.3 | ) | | $ | 5.9 | | | $ | 15.4 | | | $ | (58.9 | ) |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) |
For the Three Months Ended June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Net income (loss) | $ | 11.3 | | | $ | 16 | | | $ | (8.4 | ) | | $ | (7.6 | ) | | $ | 11.3 | |
|
Changes in foreign currency translation adjustment | — | | | 0.3 | | | 3 | | | — | | | 3.3 | |
|
Changes in unrealized holding gain on available-for-sale securities | — | | | 4.2 | | | — | | | — | | | 4.2 | |
|
Comprehensive income (loss) | $ | 11.3 | | | $ | 20.5 | | | $ | (5.4 | ) | | $ | (7.6 | ) | | $ | 18.8 | |
|
For the Nine Months Ended June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Net (loss) income | $ | (10.8 | ) | | $ | 55.4 | | | $ | (51.2 | ) | | $ | (4.2 | ) | | $ | (10.8 | ) |
|
Changes in foreign currency translation adjustment | — | | | 0.4 | | | (4.1 | ) | | — | | | (3.7 | ) |
|
Changes in unrealized holding gain on available-for-sale securities | — | | | 1.9 | | | — | | | — | | | 1.9 | |
|
Changes in pension plans, net of taxes | — | | | — | | | (0.6 | ) | | — | | | (0.6 | ) |
|
Comprehensive (loss) income | $ | (10.8 | ) | | $ | 57.7 | | | $ | (55.9 | ) | | $ | (4.2 | ) | | $ | (13.2 | ) |
|
For the Three Months Ended June 29, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Net (loss) income | $ | (11.0 | ) | | $ | (88.2 | ) | | $ | (3.1 | ) | | $ | 91.3 | | | $ | (11.0 | ) |
|
Changes in foreign currency translation adjustment | — | | | — | | | (2.9 | ) | | — | | | (2.9 | ) |
|
Changes in unrealized holding gain on available-for-sale securities | — | | | 0.1 | | | — | | | — | | | 0.1 | |
|
Comprehensive (loss) income | $ | (11.0 | ) | | $ | (88.1 | ) | | $ | (6.0 | ) | | $ | 91.3 | | | $ | (13.8 | ) |
|
For the Nine Months Ended June 29, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/Issuer | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Subsidiaries | Subsidiaries |
Net (loss) income | $ | (58.9 | ) | | $ | (21.3 | ) | | $ | 5.9 | | | $ | 15.4 | | | $ | (58.9 | ) |
|
Changes in foreign currency translation adjustment | — | | | 0.2 | | | (9.5 | ) | | — | | | (9.3 | ) |
|
Changes in unrealized holding gain on available-for-sale securities | — | | | 2.3 | | | — | | | — | | | 2.3 | |
|
Comprehensive (loss) income | $ | (58.9 | ) | | $ | (18.8 | ) | | $ | (3.6 | ) | | $ | 15.4 | | | $ | (65.9 | ) |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEET |
June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/ | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Issuer | Subsidiaries | Subsidiaries |
ASSETS | | | | | | | | | |
Current assets: | | | | | | | | | |
Cash and cash equivalents | $ | 215.4 | | | $ | 272.6 | | | $ | 144.5 | | | $ | — | | | $ | 632.5 | |
|
Restricted cash | — | | | — | | | 5.9 | | | — | | | 5.9 | |
|
Accounts receivable, net | 114.3 | | | 168.7 | | | 98.7 | | | — | | | 381.7 | |
|
Inventories | 88.8 | | | 186.1 | | | 54.9 | | | — | | | 329.8 | |
|
Deferred income tax assets | 14.4 | | | 19.2 | | | 0.8 | | | — | | | 34.4 | |
|
Prepaid income taxes | 6 | | | 2.9 | | | 1.4 | | | — | | | 10.3 | |
|
Prepaid expenses and other current assets | 18.7 | | | 10.1 | | | 9 | | | — | | | 37.8 | |
|
Intercompany receivables | — | | | 2,663.60 | | | 13.4 | | | (2,677.0 | ) | | — | |
|
Total current assets | 457.6 | | | 3,323.20 | | | 328.6 | | | (2,677.0 | ) | | 1,432.40 | |
|
Property, plant and equipment, net | 29.2 | | | 338 | | | 100.2 | | | — | | | 467.4 | |
|
Intangible assets, net | 14.1 | | | 3,484.20 | | | 60.4 | | | — | | | 3,558.70 | |
|
Goodwill | 282.4 | | | 2,391.00 | | | 137.7 | | | — | | | 2,811.10 | |
|
Other assets | 92.1 | | | 48.5 | | | 1.8 | | | — | | | 142.4 | |
|
Long term intercompany receivables | — | | | 144 | | | — | | | (144.0 | ) | | — | |
|
Investment in subsidiaries | 8,681.00 | | | 220.3 | | | 0.2 | | | (8,901.5 | ) | | — | |
|
Total assets | $ | 9,556.40 | | | $ | 9,949.20 | | | $ | 628.9 | | | $ | (11,722.5 | ) | | $ | 8,412.00 | |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | |
Current liabilities: | | | | | | | | | |
Current portion of long-term debt | $ | 102 | | | $ | — | | | $ | — | | | $ | — | | | $ | 102 | |
|
Accounts payable | 24 | | | 46.2 | | | 12.1 | | | — | | | 82.3 | |
|
Accrued expenses | 145.2 | | | 71.2 | | | 50.1 | | | — | | | 266.5 | |
|
Deferred revenue | 108.5 | | | 7.9 | | | 30.7 | | | — | | | 147.1 | |
|
Deferred income tax liability | — | | | — | | | — | | | — | | | — | |
|
Intercompany payables | 2,628.50 | | | — | | | 51.5 | | | (2,680.0 | ) | | — | |
|
Total current liabilities | 3,008.20 | | | 125.3 | | | 144.4 | | | (2,680.0 | ) | | 597.9 | |
|
Long-term debt, net of current portion | 4,168.50 | | | — | | | — | | | — | | | 4,168.50 | |
|
Deferred income tax liabilities | 82.6 | | | 1,320.10 | | | 8.1 | | | — | | | 1,410.80 | |
|
Deferred service obligations – long-term | 8.1 | | | 4 | | | 9.7 | | | — | | | 21.8 | |
|
Long-term intercompany payables | 144 | | | — | | | — | | | (144.0 | ) | | — | |
|
Other long-term liabilities | 113.7 | | | 32.8 | | | 35.2 | | | — | | | 181.7 | |
|
Total stockholders’ equity | 2,031.30 | | | 8,467.00 | | | 431.5 | | | (8,898.5 | ) | | 2,031.30 | |
|
Total liabilities and stockholders’ equity | $ | 9,556.40 | | | $ | 9,949.20 | | | $ | 628.9 | | | $ | (11,722.5 | ) | | $ | 8,412.00 | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEET |
September 28, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/ | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Issuer | Subsidiaries | Subsidiaries |
ASSETS | | | | | | | | | |
Current assets: | | | | | | | | | |
Cash and cash equivalents | $ | 321.6 | | | $ | 387.4 | | | $ | 113.5 | | | $ | — | | | $ | 822.5 | |
|
Restricted cash | — | | | — | | | 6.9 | | | — | | | 6.9 | |
|
Accounts receivable, net | 126.1 | | | 174.4 | | | 108.8 | | | — | | | 409.3 | |
|
Inventories | 81.9 | | | 146.7 | | | 60.8 | | | — | | | 289.4 | |
|
Deferred income tax assets | — | | | 19 | | | 0.5 | | | (19.5 | ) | | — | |
|
Prepaid income taxes | 47.1 | | | 2.3 | | | — | | | (4.7 | ) | | 44.7 | |
|
Prepaid expenses and other current assets | 16.3 | | | 21.1 | | | 11 | | | — | | | 48.4 | |
|
Intercompany receivables | — | | | 2,442.60 | | | 31.9 | | | (2,474.5 | ) | | — | |
|
Other current assets – assets held-for-sale | — | | | — | | | 3 | | | — | | | 3 | |
|
Total current assets | 593 | | | 3,193.50 | | | 336.4 | | | (2,498.7 | ) | | 1,624.20 | |
|
Property, plant and equipment, net | 29.3 | | | 356.7 | | | 105.5 | | | — | | | 491.5 | |
|
Intangible assets, net | 19.9 | | | 3,785.00 | | | 101.8 | | | — | | | 3,906.70 | |
|
Goodwill | 283 | | | 2,390.90 | | | 140.6 | | | — | | | 2,814.50 | |
|
Other assets | 103.6 | | | 58.4 | | | 1.9 | | | — | | | 163.9 | |
|
Investments in subsidiaries | 8,667.60 | | | 129 | | | 2.3 | | | (8,798.9 | ) | | — | |
|
Total assets | $ | 9,696.40 | | | $ | 9,913.50 | | | $ | 688.5 | | | $ | (11,297.6 | ) | | $ | 9,000.80 | |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | |
Current liabilities: | | | | | | | | | |
Current portion of long-term debt | $ | 563.8 | | | $ | — | | | $ | — | | | $ | — | | | $ | 563.8 | |
|
Accounts payable | 27.9 | | | 42.6 | | | 10 | | | — | | | 80.5 | |
|
Accrued expenses | 153 | | | 79.6 | | | 44.4 | | | (5.0 | ) | | 272 | |
|
Deferred revenue | 93.3 | | | 8 | | | 31 | | | — | | | 132.3 | |
|
Deferred income tax liabilities | 59.3 | | | — | | | — | | | (19.5 | ) | | 39.8 | |
|
Intercompany payables | 2,418.10 | | | — | | | 64.4 | | | (2,482.5 | ) | | — | |
|
Total current liabilities | 3,315.40 | | | 130.2 | | | 149.8 | | | (2,507.0 | ) | | 1,088.40 | |
|
Long-term debt, net of current portion | 4,242.10 | | | — | | | — | | | — | | | 4,242.10 | |
|
Deferred income tax liabilities | 89.1 | | | 1,435.50 | | | 10.7 | | | — | | | 1,535.30 | |
|
Deferred service obligations – long-term | 11.3 | | | 3.5 | | | 12.9 | | | (2.2 | ) | | 25.5 | |
|
Other long-term liabilities | 97 | | | 37.6 | | | 33.4 | | | — | | | 168 | |
|
Total stockholders’ equity | 1,941.50 | | | 8,306.70 | | | 481.7 | | | (8,788.4 | ) | | 1,941.50 | |
|
Total liabilities and stockholders’ equity | $ | 9,696.40 | | | $ | 9,913.50 | | | $ | 688.5 | | | $ | (11,297.6 | ) | | $ | 9,000.80 | |
|
CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Nine Months Ended June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/ | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Issuer | Subsidiaries | Subsidiaries |
OPERATING ACTIVITIES | | | | | | | | | |
Net cash provided by (used in) operating activities | $ | 412.6 | | | $ | (81.1 | ) | | $ | 45.2 | | | $ | — | | | $ | 376.7 | |
|
INVESTING ACTIVITIES | | | | | | | | | |
Proceeds from sale of business, net | — | | | — | | | 2.4 | | | — | | | 2.4 | |
|
Purchase of property and equipment | (9.4 | ) | | (15.3 | ) | | (6.2 | ) | | — | | | (30.9 | ) |
|
Increase in equipment under customer usage agreements | (0.5 | ) | | (15.8 | ) | | (10.6 | ) | | — | | | (26.9 | ) |
|
Net sales of insurance contracts | 13.8 | | | — | | | — | | | — | | | 13.8 | |
|
Purchases of mutual funds | (29.7 | ) | | — | | | — | | | — | | | (29.7 | ) |
|
Sales of mutual funds | 22.4 | | | — | | | — | | | — | | | 22.4 | |
|
(Increase) decrease in other assets | (1.0 | ) | | (3.0 | ) | | 1 | | | — | | | (3.0 | ) |
|
Net cash used in investing activities | (4.4 | ) | | (34.1 | ) | | (13.4 | ) | | — | | | (51.9 | ) |
|
FINANCING ACTIVITIES | | | | | | | | | |
Repayment of long-term debt | (578.8 | ) | | — | | | — | | | — | | | (578.8 | ) |
|
Payment of debt issuance costs | (2.4 | ) | | — | | | — | | | — | | | (2.4 | ) |
|
Payment of deferred acquisition consideration | (5.0 | ) | | — | | | — | | | — | | | (5.0 | ) |
|
Net proceeds from issuance of common stock pursuant to employee stock plans | 75.8 | | | — | | | — | | | — | | | 75.8 | |
|
Excess tax benefit related to equity awards | 5.2 | | | — | | | — | | | — | | | 5.2 | |
|
Payment of minimum tax withholdings on net share settlement of equity awards | (9.2 | ) | | — | | | — | | | — | | | (9.2 | ) |
|
Net cash used in financing activities | (514.4 | ) | | — | | | — | | | — | | | (514.4 | ) |
|
Effect of exchange rate changes on cash and cash equivalents | — | | | 0.4 | | | (0.8 | ) | | — | | | (0.4 | ) |
|
Net (decrease) increase in cash and cash equivalents | (106.2 | ) | | (114.8 | ) | | 31 | | | — | | | (190.0 | ) |
|
Cash and cash equivalents, beginning of period | 321.6 | | | 387.4 | | | 113.5 | | | — | | | 822.5 | |
|
Cash and cash equivalents, end of period | $ | 215.4 | | | $ | 272.6 | | | $ | 144.5 | | | $ | — | | | $ | 632.5 | |
|
CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Nine Months Ended June 29, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | |
| Parent/ | | Guarantor | | Non-Guarantor | | Eliminations | | Consolidated |
Issuer | Subsidiaries | Subsidiaries |
OPERATING ACTIVITIES | | | | | | | | | |
Net cash provided by operating activities | $ | 218.4 | | | $ | 146.4 | | | $ | 51 | | | $ | — | | | $ | 415.8 | |
|
INVESTING ACTIVITIES | | | | | | | | | |
Acquisition of a business | (6.1 | ) | | — | | | (0.2 | ) | | — | | | (6.3 | ) |
|
Payment of additional acquisition consideration | (16.8 | ) | | — | | | — | | | — | | | (16.8 | ) |
|
Proceeds from sale of business, net of cash transferred | — | | | 84.8 | | | 1.5 | | | — | | | 86.3 | |
|
Purchase of property and equipment | (13.1 | ) | | (19.7 | ) | | (8.3 | ) | | — | | | (41.1 | ) |
|
Increase in equipment under customer usage agreements | (0.5 | ) | | (18.8 | ) | | (12.6 | ) | | — | | | (31.9 | ) |
|
Purchase of insurance contracts | (4.0 | ) | | — | | | — | | | — | | | (4.0 | ) |
|
Proceeds from sale of intellectual property | — | | | 60 | | | — | | | — | | | 60 | |
|
Purchase of cost-method investments | (3.4 | ) | | (0.2 | ) | | — | | | — | | | (3.6 | ) |
|
Sale of cost-method investments | 2.1 | | | — | | | — | | | — | | | 2.1 | |
|
Increase in other assets | (2.1 | ) | | (2.1 | ) | | (0.4 | ) | | — | | | (4.6 | ) |
|
Net cash provided by (used in) investing activities | (43.9 | ) | | 104 | | | (20.0 | ) | | — | | | 40.1 | |
|
FINANCING ACTIVITIES | | | | | | | | | |
Repayment of long-term debt | (48.8 | ) | | — | | | — | | | — | | | (48.8 | ) |
|
Payment of debt issuance cost | (7.0 | ) | | — | | | — | | | — | | | (7.0 | ) |
|
Payment of contingent consideration | (42.4 | ) | | — | | | — | | | — | | | (42.4 | ) |
|
Payment of deferred acquisition consideration | (1.7 | ) | | — | | | — | | | — | | | (1.7 | ) |
|
Net proceeds from issuance of common stock pursuant to employee stock plans | 51.2 | | | — | | | — | | | — | | | 51.2 | |
|
Excess tax benefit related to equity awards | 5.4 | | | — | | | — | | | — | | | 5.4 | |
|
Payment of minimum tax withholdings on net share settlements of equity awards | (12.0 | ) | | — | | | — | | | — | | | (12.0 | ) |
|
Intercompany dividend | 175 | | | (175.0 | ) | | — | | | — | | | — | |
|
Net cash used in financing activities | (55.3 | ) | | — | | | — | | | — | | | (55.3 | ) |
|
Effect of exchange rate changes on cash and cash equivalents | — | | | (3.0 | ) | | 0.4 | | | — | | | (2.6 | ) |
|
Net increase in cash and cash equivalents | 119.2 | | | 247.4 | | | 31.4 | | | — | | | 398 | |
|
Cash and cash equivalents, beginning of period | 210 | | | 269.4 | | | 81 | | | — | | | 560.4 | |
|
Cash and cash equivalents, end of period | $ | 329.2 | | | $ | 516.8 | | | $ | 112.4 | | | $ | — | | | $ | 958.4 | |
|
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