Supplemental Guarantor Condensed Consolidating Financials | 6 Months Ended |
Mar. 29, 2014 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Supplemental Guarantor Condensed Consolidating Financials | ' |
(16) 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 March 29, 2014 and September 28, 2013 and for the three and six months ended March 29, 2014 and March 30, 2013, as applicable. |
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Three Months Ended March 29, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | $ | 122,938 | | | $ | 385,989 | | | $ | 121,579 | | | $ | (109,371 | ) | | $ | 521,135 | |
Service and other | | | 88,608 | | | | 17,068 | | | | 12,342 | | | | (14,145 | ) | | | 103,873 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 211,546 | | | | 403,057 | | | | 133,921 | | | | (123,516 | ) | | | 625,008 | |
| | | | | | | | | | | | | | | | | | | | |
Costs of revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | | 58,047 | | | | 145,665 | | | | 91,383 | | | | (109,371 | ) | | | 185,724 | |
Amortization of intangible assets | | | 1,397 | | | | 74,619 | | | | 867 | | | | — | | | | 76,883 | |
Impairment of intangible assets | | | — | | | | — | | | | 26,567 | | | | — | | | | 26,567 | |
Service and other | | | 51,109 | | | | 13,893 | | | | 2,865 | | | | (14,145 | ) | | | 53,722 | |
| | | | | | | | | | | | | | | | | | | | |
Gross Profit | | | 100,993 | | | | 168,880 | | | | 12,239 | | | | — | | | | 282,112 | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Research and development | | | 7,695 | | | | 39,997 | | | | 2,223 | | | | — | | | | 49,915 | |
Selling and marketing | | | 17,857 | | | | 40,532 | | | | 20,268 | | | | — | | | | 78,657 | |
General and administrative | | | 15,137 | | | | 35,530 | | | | 11,442 | | | | — | | | | 62,109 | |
Amortization of intangible assets | | | 1,115 | | | | 26,865 | | | | 1,120 | | | | — | | | | 29,100 | |
Impairment of intangible assets | | | — | | | | — | | | | 522 | | | | — | | | | 522 | |
Restructuring and divestiture charges | | | 1,656 | | | | 2,331 | | | | 7,572 | | | | — | | | | 11,559 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 43,460 | | | | 145,255 | | | | 43,147 | | | | — | | | | 231,862 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from operations | | | 57,533 | | | | 23,625 | | | | (30,908 | ) | | | — | | | | 50,250 | |
Interest income | | | 103 | | | | 901 | | | | 297 | | | | (1,152 | ) | | | 149 | |
Interest expense | | | (54,692 | ) | | | (308 | ) | | | (601 | ) | | | 1,152 | | | | (54,449 | ) |
Debt extinguishment loss | | | (4,437 | ) | | | — | | | | — | | | | — | | | | (4,437 | ) |
Other expense, net | | | (2,938 | ) | | | (186 | ) | | | (139 | ) | | | — | | | | (3,263 | ) |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income before income taxes | | | (4,431 | ) | | | 24,032 | | | | (31,351 | ) | | | — | | | | (11,750 | ) |
Provision (benefit) for income taxes | | | (1,753 | ) | | | 4,664 | | | | 2,104 | | | | — | | | | 5,015 | |
Equity in earnings (losses) of subsidiaries | | | (14,087 | ) | | | 1,028 | | | | — | | | | 13,059 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | $ | (16,765 | ) | | $ | 20,396 | | | $ | (33,455 | ) | | $ | 13,059 | | | $ | (16,765 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Six Months Ended March 29, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | $ | 228,394 | | | $ | 767,557 | | | $ | 247,982 | | | $ | (210,416 | ) | | $ | 1,033,517 | |
Service and other | | | 174,554 | | | | 32,941 | | | | 24,086 | | | | (27,642 | ) | | | 203,939 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 402,948 | | | | 800,498 | | | | 272,068 | | | | (238,058 | ) | | | 1,237,456 | |
| | | | | | | | | | | | | | | | | | | | |
Costs of revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | | 110,920 | | | | 284,425 | | | | 177,673 | | | | (210,416 | ) | | | 362,602 | |
Amortization of intangible assets | | | 2,794 | | | | 148,728 | | | | 2,027 | | | | — | | | | 153,549 | |
Impairment of intangible assets | | | — | | | | — | | | | 26,567 | | | | — | | | | 26,567 | |
Service and other | | | 93,429 | | | | 21,535 | | | | 19,708 | | | | (27,642 | ) | | | 107,030 | |
| | | | | | | | | | | | | | | | | | | | |
Gross Profit | | | 195,805 | | | | 345,810 | | | | 46,093 | | | | — | | | | 587,708 | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Research and development | | | 15,212 | | | | 78,848 | | | | 4,524 | | | | — | | | | 98,584 | |
Selling and marketing | | | 35,783 | | | | 83,307 | | | | 42,824 | | | | — | | | | 161,914 | |
General and administrative | | | 29,793 | | | | 77,024 | | | | 23,111 | | | | — | | | | 129,928 | |
Amortization of intangible assets | | | 1,894 | | | | 51,028 | | | | 2,394 | | | | — | | | | 55,316 | |
Impairment of intangible assets | | | — | | | | — | | | | 522 | | | | — | | | | 522 | |
Restructuring and divestiture charges | | | 6,646 | | | | 12,087 | | | | 11,176 | | | | — | | | | 29,909 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 89,328 | | | | 302,294 | | | | 84,551 | | | | — | | | | 476,173 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from operations | | | 106,477 | | | | 43,516 | | | | (38,458 | ) | | | — | | | | 111,535 | |
Interest income | | | 202 | | | | 1,206 | | | | 491 | | | | (1,394 | ) | | | 505 | |
Interest expense | | | (115,346 | ) | | | (616 | ) | | | (1,171 | ) | | | 1,394 | | | | (115,739 | ) |
Debt extinguishment loss | | | (7,377 | ) | | | — | | | | — | | | | — | | | | (7,377 | ) |
Other (expense) income, net | | | 6,627 | | | | (9,530 | ) | | | 810 | | | | — | | | | (2,093 | ) |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income before income taxes | | | (9,417 | ) | | | 34,576 | | | | (38,328 | ) | | | — | | | | (13,169 | ) |
Provision (benefit) for income taxes | | | (1,812 | ) | | | 6,224 | | | | 4,535 | | | | — | | | | 8,947 | |
Equity in earnings (losses) of subsidiaries | | | (14,511 | ) | | | 11,116 | | | | — | | | | 3,395 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | $ | (22,116 | ) | | $ | 39,468 | | | $ | (42,863 | ) | | $ | 3,395 | | | $ | (22,116 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Three Months Ended March 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | $ | 100,614 | | | $ | 396,913 | | | $ | 121,340 | | | $ | (102,751 | ) | | $ | 516,116 | |
Service and other | | | 81,176 | | | | 21,320 | | | | 9,535 | | | | (15,484 | ) | | | 96,547 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 181,790 | | | | 418,233 | | | | 130,875 | | | | (118,235 | ) | | | 612,663 | |
| | | | | | | | | | | | | | | | | | | | |
Costs of revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | | 52,488 | | | | 169,259 | | | | 88,231 | | | | (102,751 | ) | | | 207,227 | |
Amortization of intangible assets | | | 1,309 | | | | 73,374 | | | | 1,050 | | | | — | | | | 75,733 | |
Service and other | | | 40,620 | | | | 16,828 | | | | 8,413 | | | | (15,484 | ) | | | 50,377 | |
| | | | | | | | | | | | | | | | | | | | |
Gross profit | | | 87,373 | | | | 158,772 | | | | 33,181 | | | | — | | | | 279,326 | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Research and development | | | 7,234 | | | | 39,973 | | | | 2,414 | | | | — | | | | 49,621 | |
Selling and marketing | | | 20,484 | | | | 45,237 | | | | 22,893 | | | | — | | | | 88,614 | |
General and administrative | | | 16,716 | | | | 38,631 | | | | 8,886 | | | | — | | | | 64,233 | |
Amortization of intangible assets | | | 777 | | | | 26,687 | | | | 1,203 | | | | — | | | | 28,667 | |
Contingent consideration – compensation expense | | | 29,388 | | | | — | | | | — | | | | — | | | | 29,388 | |
Contingent consideration – fair value adjustments | | | 799 | | | | — | | | | — | | | | — | | | | 799 | |
Restructuring and divestiture charges | | | 164 | | | | 10,600 | | | | 3,092 | | | | (1,394 | ) | | | 12,462 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 75,562 | | | | 161,128 | | | | 38,488 | | | | (1,394 | ) | | | 273,784 | |
| | | | | | | | | | | | | | | | | | | | |
Income (loss) from operations | | | 11,811 | | | | (2,356 | ) | | | (5,307 | ) | | | 1,394 | | | | 5,542 | |
Interest income | | | 99 | | | | 36 | | | | 72 | | | | — | | | | 207 | |
Interest expense | | | (75,238 | ) | | | (309 | ) | | | (502 | ) | | | — | | | | (76,049 | ) |
Debt extinguishment loss | | | (3,247 | ) | | | — | | | | — | | | | — | | | | (3,247 | ) |
Other (expense) income, net | | | 1,638 | | | | (3,073 | ) | | | 1,247 | | | | (13 | ) | | | (201 | ) |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income before income taxes | | | (64,937 | ) | | | (5,702 | ) | | | (4,490 | ) | | | 1,381 | | | | (73,748 | ) |
(Benefit) provision for income taxes | | | (14,842 | ) | | | (8,081 | ) | | | 279 | | | | — | | | | (22,644 | ) |
Equity in earnings (losses) of subsidiaries | | | (1,009 | ) | | | 2,459 | | | | — | | | | (1,450 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | $ | (51,104 | ) | | $ | 4,838 | | | $ | (4,769 | ) | | $ | (69 | ) | | $ | (51,104 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the Six Months Ended March 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | $ | 198,657 | | | $ | 774,736 | | | $ | 254,415 | | | $ | (178,438 | ) | | $ | 1,049,370 | |
Service and other | | | 159,136 | | | | 44,409 | | | | 19,407 | | | | (28,297 | ) | | | 194,655 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 357,793 | | | | 819,145 | | | | 273,822 | | | | (206,735 | ) | | | 1,244,025 | |
| | | | | | | | | | | | | | | | | | | | |
Costs of revenues: | | | | | | | | | | | | | | | | | | | | |
Product | | | 106,008 | | | | 331,988 | | | | 169,996 | | | | (178,438 | ) | | | 429,554 | |
Amortization of intangible assets | | | 2,615 | | | | 146,291 | | | | 2,114 | | | | — | | | | 151,020 | |
Service and other | | | 78,998 | | | | 33,585 | | | | 18,166 | | | | (28,297 | ) | | | 102,452 | |
| | | | | | | | | | | | | | | | | | | | |
Gross profit | | | 170,172 | | | | 307,281 | | | | 83,546 | | | | — | | | | 560,999 | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Research and development | | | 14,652 | | | | 81,726 | | | | 4,752 | | | | — | | | | 101,130 | |
Selling and marketing | | | 41,257 | | | | 92,602 | | | | 49,198 | | | | — | | | | 183,057 | |
General and administrative | | | 32,036 | | | | 69,647 | | | | 16,941 | | | | — | | | | 118,624 | |
Amortization of intangible assets | | | 1,455 | | | | 53,336 | | | | 2,402 | | | | — | | | | 57,193 | |
Contingent consideration – compensation expense | | | 58,874 | | | | — | | | | — | | | | — | | | | 58,874 | |
Contingent consideration – fair value adjustments | | | 10,839 | | | | — | | | | — | | | | — | | | | 10,839 | |
Gain on sale of intellectual property | | | — | | | | (53,884 | ) | | | — | | | | — | | | | (53,884 | ) |
Restructuring and divestiture charges | | | 385 | | | | 13,886 | | | | 3,518 | | | | (1,394 | ) | | | 16,395 | |
| | | | | | | | | | | | | | | | | | | | |
| | | 159,498 | | | | 257,313 | | | | 76,811 | | | | (1,394 | ) | | | 492,228 | |
| | | | | | | | | | | | | | | | | | | | |
Income from operations | | | 10,674 | | | | 49,968 | | | | 6,735 | | | | 1,394 | | | | 68,771 | |
Interest income | | | 230 | | | | 78 | | | | 159 | | | | — | | | | 467 | |
Interest expense | | | (146,492 | ) | | | (623 | ) | | | (1,015 | ) | | | — | | | | (148,130 | ) |
Debt extinguishment loss | | | (3,247 | ) | | | — | | | | — | | | | — | | | | (3,247 | ) |
Other income (expense), net | | | 1,757 | | | | (7,119 | ) | | | 6,427 | | | | (27 | ) | | | 1,038 | |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income before income taxes | | | (137,078 | ) | | | 42,304 | | | | 12,306 | | | | 1,367 | | | | (81,101 | ) |
(Benefit) provision for income taxes | | | (26,589 | ) | | | (11,195 | ) | | | 4,669 | | | | — | | | | (33,115 | ) |
Equity in earnings (losses) of subsidiaries | | | 62,503 | | | | 13,393 | | | | — | | | | (75,896 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | $ | (47,986 | ) | | $ | 66,892 | | | $ | 7,637 | | | $ | (74,529 | ) | | $ | (47,986 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE (LOSS) INCOME |
For the Three Months Ended March 29, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Net (loss) income | | $ | (16,765 | ) | | $ | 20,396 | | | $ | (33,455 | ) | | $ | 13,059 | | | $ | (16,765 | ) |
Changes in foreign currency translation adjustment | | | — | | | | 26 | | | | (5,789 | ) | | | — | | | | (5,763 | ) |
Changes in unrealized holding gain on available-for-sale securities | | | — | | | | (1,048 | ) | | | — | | | | — | | | | (1,048 | ) |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income | | $ | (16,765 | ) | | $ | 19,374 | | | $ | (39,244 | ) | | $ | 13,059 | | | $ | (23,576 | ) |
| | | | | | | | | | | | | | | | | | | | |
For the Six Months Ended March 29, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Net (loss) income | | $ | (22,116 | ) | | $ | 39,468 | | | $ | (42,863 | ) | | $ | 3,395 | | | $ | (22,116 | ) |
Changes in foreign currency translation adjustment | | | — | | | | 115 | | | | (7,066 | ) | | | — | | | | (6,951 | ) |
Changes in unrealized holding gain on available-for-sale securities | | | — | | | | (2,228 | ) | | | — | | | | — | | | | (2,228 | ) |
Changes in pension plans, net of taxes | | | — | | | | — | | | | (615 | ) | | | — | | | | (615 | ) |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income | | $ | (22,116 | ) | | $ | 37,355 | | | $ | (50,544 | ) | | $ | 3,395 | | | $ | (31,910 | ) |
| | | | | | | | | | | | | | | | | | | | |
For the Three Months Ended March 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Net (loss) income | | $ | (51,104 | ) | | $ | 4,838 | | | $ | (4,769 | ) | | $ | (69 | ) | | $ | (51,104 | ) |
Changes in foreign currency translation adjustment | | | — | | | | (341 | ) | | | (7,947 | ) | | | — | | | | (8,288 | ) |
Changes in unrealized holding gain on available-for-sale securities | | | — | | | | 2,687 | | | | — | | | | — | | | | 2,687 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income | | $ | (51,104 | ) | | $ | 7,184 | | | $ | (12,716 | ) | | $ | (69 | ) | | $ | (56,705 | ) |
| | | | | | | | | | | | | | | | | | | | |
For the Six Months Ended March 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Subsidiaries | Subsidiaries |
Net (loss) income | | $ | (47,986 | ) | | $ | 66,892 | | | $ | 7,637 | | | $ | (74,529 | ) | | $ | (47,986 | ) |
Changes in foreign currency translation adjustment | | | — | | | | 236 | | | | (6,555 | ) | | | — | | | | (6,319 | ) |
Changes in unrealized holding gain on available-for-sale securities | | | — | | | | 2,130 | | | | — | | | | — | | | | 2,130 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income | | $ | (47,986 | ) | | $ | 69,258 | | | $ | 1,082 | | | $ | (74,529 | ) | | $ | (52,175 | ) |
| | | | | | | | | | | | | | | | | | | | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEET |
March 29, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/ | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Issuer | Subsidiaries | Subsidiaries |
ASSETS | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 139,343 | | | $ | 242,863 | | | $ | 102,316 | | | $ | — | | | $ | 484,522 | |
Restricted cash | | | — | | | | — | | | | 5,857 | | | | — | | | | 5,857 | |
Accounts receivable, net | | | 108,850 | | | | 177,540 | | | | 101,243 | | | | — | | | | 387,633 | |
Inventories | | | 83,479 | | | | 172,075 | | | | 55,426 | | | | — | | | | 310,980 | |
Deferred income tax assets | | | 14,907 | | | | 18,591 | | | | 900 | | | | — | | | | 34,398 | |
Prepaid income taxes | | | — | | | | 2,583 | | | | 957 | | | | (3,540 | ) | | | — | |
Prepaid expenses and other current assets | | | 19,252 | | | | 13,445 | | | | 8,473 | | | | — | | | | 41,170 | |
Intercompany receivables | | | — | | | | 2,576,516 | | | | 47,579 | | | | (2,624,095 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 365,831 | | | | 3,203,613 | | | | 322,751 | | | | (2,627,635 | ) | | | 1,264,560 | |
Property, plant and equipment, net | | | 28,596 | | | | 343,091 | | | | 100,467 | | | | — | | | | 472,154 | |
Intangible assets, net | | | 16,011 | | | | 3,585,729 | | | | 65,857 | | | | — | | | | 3,667,597 | |
Goodwill | | | 282,448 | | | | 2,391,294 | | | | 136,072 | | | | — | | | | 2,809,814 | |
Other assets | | | 98,195 | | | | 48,226 | | | | 1,849 | | | | — | | | | 148,270 | |
Long term intercompany receivables | | | — | | | | 144,000 | | | | — | | | | (144,000 | ) | | | — | |
Investment in subsidiaries | | | 8,648,043 | | | | 199,081 | | | | 280 | | | | (8,847,404 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 9,439,124 | | | $ | 9,915,034 | | | $ | 627,276 | | | $ | (11,619,039 | ) | | $ | 8,362,395 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current portion of long-term debt | | $ | 89,497 | | | $ | — | | | $ | — | | | $ | — | | | $ | 89,497 | |
Accounts payable | | | 27,969 | | | | 29,867 | | | | 10,361 | | | | — | | | | 68,197 | |
Accrued expenses | | | 136,690 | | | | 67,889 | | | | 47,515 | | | | (3,807 | ) | | | 248,287 | |
Deferred revenue | | | 105,712 | | | | 8,062 | | | | 30,928 | | | | — | | | | 144,702 | |
Intercompany payables | | | 2,576,709 | | | | — | | | | 50,145 | | | | (2,626,854 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 2,936,577 | | | | 105,818 | | | | 138,949 | | | | (2,630,661 | ) | | | 550,683 | |
Long-term debt, net of current portion | | | 4,183,958 | | | | — | | | | — | | | | — | | | | 4,183,958 | |
Deferred income tax liabilities | | | 78,567 | | | | 1,361,467 | | | | 10,308 | | | | — | | | | 1,450,342 | |
Deferred service obligations – long-term | | | 8,855 | | | | 3,750 | | | | 9,853 | | | | — | | | | 22,458 | |
Long-term intercompany payables | | | 144,000 | | | | — | | | | — | | | | (144,000 | ) | | | — | |
Other long-term liabilities | | | 107,064 | | | | 32,844 | | | | 34,943 | | | | — | | | | 174,851 | |
Total stockholders’ equity | | | 1,980,103 | | | | 8,411,155 | | | | 433,223 | | | | (8,844,378 | ) | | | 1,980,103 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and stockholders’ equity | | $ | 9,439,124 | | | $ | 9,915,034 | | | $ | 627,276 | | | $ | (11,619,039 | ) | | $ | 8,362,395 | |
| | | | | | | | | | | | | | | | | | | | |
|
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEET |
September 28, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/ | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Issuer | Subsidiaries | Subsidiaries |
ASSETS | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 321,523 | | | $ | 387,422 | | | $ | 113,545 | | | $ | — | | | $ | 822,490 | |
Restricted cash | | | — | | | | — | | | | 6,914 | | | | — | | | | 6,914 | |
Accounts receivable, net | | | 126,036 | | | | 174,433 | | | | 108,804 | | | | — | | | | 409,273 | |
Inventories | | | 81,924 | | | | 146,678 | | | | 60,761 | | | | — | | | | 289,363 | |
Deferred income tax assets | | | — | | | | 19,042 | | | | 494 | | | | (19,536 | ) | | | — | |
Prepaid income taxes | | | 47,131 | | | | 2,303 | | | | — | | | | (4,689 | ) | | | 44,745 | |
Prepaid expenses and other current assets | | | 16,246 | | | | 21,112 | | | | 11,003 | | | | — | | | | 48,361 | |
Intercompany receivables | | | — | | | | 2,442,502 | | | | 31,949 | | | | (2,474,451 | ) | | | — | |
Other current assets – assets held-for-sale | | | — | | | | — | | | | 2,997 | | | | — | | | | 2,997 | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 592,860 | | | | 3,193,492 | | | | 336,467 | | | | (2,498,676 | ) | | | 1,624,143 | |
Property, plant and equipment, net | | | 29,313 | | | | 356,736 | | | | 105,479 | | | | — | | | | 491,528 | |
Intangible assets, net | | | 19,925 | | | | 3,784,987 | | | | 101,810 | | | | — | | | | 3,906,722 | |
Goodwill | | | 283,038 | | | | 2,390,939 | | | | 140,551 | | | | — | | | | 2,814,528 | |
Other assets | | | 103,548 | | | | 58,446 | | | | 1,908 | | | | — | | | | 163,902 | |
Investments in subsidiaries | | | 8,667,620 | | | | 129,016 | | | | 2,296 | | | | (8,798,932 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 9,696,304 | | | $ | 9,913,616 | | | $ | 688,511 | | | $ | (11,297,608 | ) | | $ | 9,000,823 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current portion of long-term debt | | $ | 563,812 | | | $ | — | | | $ | — | | | $ | — | | | $ | 563,812 | |
Accounts payable | | | 27,865 | | | | 42,661 | | | | 10,008 | | | | — | | | | 80,534 | |
Accrued expenses | | | 152,950 | | | | 79,629 | | | | 44,319 | | | | (4,967 | ) | | | 271,931 | |
Deferred revenue | | | 93,306 | | | | 7,958 | | | | 31,055 | | | | — | | | | 132,319 | |
Deferred income tax liabilities | | | 59,346 | | | | — | | | | — | | | | (19,536 | ) | | | 39,810 | |
Intercompany payables | | | 2,418,089 | | | | — | | | | 64,411 | | | | (2,482,500 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 3,315,368 | | | | 130,248 | | | | 149,793 | | | | (2,507,003 | ) | | | 1,088,406 | |
Long-term debt, net of current portion | | | 4,242,098 | | | | — | | | | — | | | | — | | | | 4,242,098 | |
Deferred income tax liabilities | | | 89,085 | | | | 1,435,522 | | | | 10,699 | | | | — | | | | 1,535,306 | |
Deferred service obligations – long-term | | | 11,251 | | | | 3,511 | | | | 12,864 | | | | (2,170 | ) | | | 25,456 | |
Other long-term liabilities | | | 96,990 | | | | 37,598 | | | | 33,456 | | | | — | | | | 168,044 | |
Total stockholders’ equity | | | 1,941,512 | | | | 8,306,737 | | | | 481,699 | | | | (8,788,435 | ) | | | 1,941,513 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and stockholders’ equity | | $ | 9,696,304 | | | $ | 9,913,616 | | | $ | 688,511 | | | $ | (11,297,608 | ) | | $ | 9,000,823 | |
| | | | | | | | | | | | | | | | | | | | |
|
CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Six Months Ended March 29, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/ | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Issuer | Subsidiaries | Subsidiaries |
OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | 343,410 | | | $ | (122,511 | ) | | $ | (2,584 | ) | | $ | — | | | $ | 218,315 | |
| | | | | | | | | | | | | | | | | | | | |
INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | |
Proceeds from sale of business, net | | | — | | | | — | | | | 2,431 | | | | — | | | | 2,431 | |
Purchase of property and equipment | | | (5,643 | ) | | | (9,635 | ) | | | (4,499 | ) | | | — | | | | (19,777 | ) |
Increase in equipment under customer usage agreements | | | (453 | ) | | | (10,546 | ) | | | (6,965 | ) | | | — | | | | (17,964 | ) |
Net sales of insurance contracts | | | 13,841 | | | | — | | | | — | | | | — | | | | 13,841 | |
Purchases of mutual funds | | | (29,732 | ) | | | — | | | | — | | | | — | | | | (29,732 | ) |
Sales of mutual funds | | | 18,564 | | | | — | | | | — | | | | — | | | | 18,564 | |
(Increase) decrease in other assets | | | (945 | ) | | | (1,981 | ) | | | 994 | | | | — | | | | (1,932 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | (4,368 | ) | | | (22,162 | ) | | | (8,039 | ) | | | — | | | | (34,569 | ) |
| | | | | | | | | | | | | | | | | | | | |
FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | |
Repayment of long-term debt | | | (562,500 | ) | | | — | | | | — | | | | — | | | | (562,500 | ) |
Payment of debt issuance costs | | | (2,446 | ) | | | — | | | | — | | | | — | | | | (2,446 | ) |
Payment of deferred acquisition consideration | | | (4,965 | ) | | | — | | | | — | | | | — | | | | (4,965 | ) |
Net proceeds from issuance of common stock pursuant to employee stock plans | | | 53,718 | | | | — | | | | — | | | | — | | | | 53,718 | |
Excess tax benefit related to equity awards | | | 4,134 | | | | — | | | | — | | | | — | | | | 4,134 | |
Payment of minimum tax withholdings on net share settlement of equity awards | | | (9,163 | ) | | | — | | | | — | | | | — | | | | (9,163 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in financing activities | | | (521,222 | ) | | | — | | | | — | | | | — | | | | (521,222 | ) |
Effect of exchange rate changes on cash and cash equivalents | | | — | | | | 114 | | | | (606 | ) | | | — | | | | (492 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net decrease in cash and cash equivalents | | | (182,180 | ) | | | (144,559 | ) | | | (11,229 | ) | | | — | | | | (337,968 | ) |
Cash and cash equivalents, beginning of period | | | 321,523 | | | | 387,422 | | | | 113,545 | | | | — | | | | 822,490 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents, end of period | | $ | 139,343 | | | $ | 242,863 | | | $ | 102,316 | | | $ | — | | | $ | 484,522 | |
| | | | | | | | | | | | | | | | | | | | |
|
CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Six Months Ended March 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent/ | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Issuer | Subsidiaries | Subsidiaries |
OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities | | $ | 65,009 | | | $ | 72,387 | | | $ | 32,132 | | | $ | — | | | $ | 169,528 | |
| | | | | | | | | | | | | | | | | | | | |
INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | |
Acquisition of a business | | | (3,698 | ) | | | — | | | | (220 | ) | | | — | | | | (3,918 | ) |
Payment of additional acquisition consideration | | | (16,808 | ) | | | — | | | | — | | | | — | | | | (16,808 | ) |
Proceeds from sale of business, net of cash transferred | | | — | | | | 84,762 | | | | 1,488 | | | | — | | | | 86,250 | |
Purchase of property and equipment | | | (6,397 | ) | | | (14,335 | ) | | | (5,156 | ) | | | — | | | | (25,888 | ) |
Increase in equipment under customer usage agreements | | | (335 | ) | | | (13,031 | ) | | | (7,589 | ) | | | — | | | | (20,955 | ) |
Purchase of insurance contracts | | | (4,000 | ) | | | — | | | | — | | | | — | | | | (4,000 | ) |
Proceeds from sale of intellectual property | | | — | | | | 60,000 | | | | — | | | | — | | | | 60,000 | |
Purchase of cost-method investments | | | (3,400 | ) | | | (225 | ) | | | — | | | | — | | | | (3,625 | ) |
Increase in other assets | | | (1,984 | ) | | | (1,520 | ) | | | (1,447 | ) | | | — | | | | (4,951 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | (36,622 | ) | | | 115,651 | | | | (12,924 | ) | | | — | | | | 66,105 | |
| | | | | | | | | | | | | | | | | | | | |
FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | |
Repayment of long-term debt | | | (32,500 | ) | | | — | | | | — | | | | — | | | | (32,500 | ) |
Payment of debt issuance cost | | | (7,019 | ) | | | | | | | | | | | | | | | (7,019 | ) |
Payment of contingent consideration | | | (42,433 | ) | | | — | | | | — | | | | — | | | | (42,433 | ) |
Net proceeds from issuance of common stock pursuant to employee stock plans | | | 37,623 | | | | — | | | | — | | | | — | | | | 37,623 | |
Excess tax benefit related to equity awards | | | 4,437 | | | | — | | | | — | | | | — | | | | 4,437 | |
Payment of minimum tax withholdings on net share settlements of equity awards | | | (9,972 | ) | | | — | | | | — | | | | — | | | | (9,972 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in financing activities | | | (49,864 | ) | | | — | | | | — | | | | — | | | | (49,864 | ) |
Effect of exchange rate changes on cash and cash equivalents | | | — | | | | (1,782 | ) | | | 579 | | | | — | | | | (1,203 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | (21,477 | ) | | | 186,256 | | | | 19,787 | | | | — | | | | 184,566 | |
Cash and cash equivalents, beginning of period | | | 210,028 | | | | 269,416 | | | | 80,986 | | | | — | | | | 560,430 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents, end of period | | $ | 188,551 | | | $ | 455,672 | | | $ | 100,773 | | | $ | — | | | $ | 744,996 | |
| | | | | | | | | | | | | | | | | | | | |
|