| Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| December 27, 2024 | December 29, 2023 | Cash flows from operating activities | Net income (loss) | $ | 21 | $ | (39) | Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | Depreciation | 9 | 7 | Amortization of intangibles | 120 | 56 | Amortization of deferred loan costs and original issue discount | 3 | 5 | Derivative instruments | 3 | 15 | Equity earnings of non-consolidated subsidiaries | (21) | (15) | Distributions from equity method investments | 21 | 17 | Deferred income taxes | (15) | (12) | Equity-based compensation | 3 | 1 | Other | (1) | (2) | Changes in assets and liabilities, net of effects of business acquisition: | Accounts receivable, net | (27) | (103) | Prepaid expenses and other assets | 35 | 8 | Accounts payable, contract liabilities, and other current liabilities | (31) | (27) | Accrued employee compensation and benefits | (6) | 8 | Other long-term liabilities | (4) | (2) | Net cash provided by (used in) operating activities | 110 | (83) | Cash flows from investing activities | Payments for property and equipment | (8) | (2) | Contributions to equity method investments | (1) | — | Other | 1 | (1) | Net cash used in investing activities | (8) | (3) | Cash flows from financing activities | Borrowings on revolving credit facilities | 210 | 200 | Payments on revolving credit facilities | (210) | (200) | Repayments of borrowings under the credit agreement | — | (8) | Repayments of borrowings under other agreements | (2) | (3) | Distributions to non-controlling interests | (13) | (1) | Other | (1) | (2) | Net cash used in financing activities | (16) | (14) | Effect of exchange rate changes on cash | (16) | 6 | Net change in cash and cash equivalents | 70 | (94) | Cash and cash equivalents, beginning of period | 452 | 305 | Cash and cash equivalents, end of period | $ | 522 | $ | 211 | Supplemental disclosure of cash flow information | Income (taxes paid) tax refunds received, net of receipts | $ | (6) | $ | 2 | Interest paid | $ | (39) | $ | (94) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of | ||||||||||||||||||||||||||||||||||||||||||||
| Description of Contract Related Balance | Classification | December 27, 2024 | September 27, 2024 | |||||||||||||||||||||||||||||||||||||||||
| Billed and billable receivables | Accounts receivable, net | $ | 1,443 | $ | 1,378 | Contract assets | Accounts receivable, net | 927 | 986 | Related party receivables | Accounts receivable, net | 35 | 37 | Long-term contract assets | Other long-term assets | 138 | 138 | Contract liabilities - deferred revenues and other contract liabilities | Contract liabilities | (143) | (113) | |||||||||||||||||||||||
| December 27, 2024 | September 27, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | Current assets: | Cash and cash equivalents | $ | 522 | $ | 452 | Accounts receivable, net | 2,405 | 2,401 | Prepaid expenses and other current assets | 213 | 231 | Total current assets | 3,140 | 3,084 | Property and equipment, net | 140 | 144 | Equity method investments | 124 | 123 | Goodwill | 5,588 | 5,556 | Intangible assets, net | 2,503 | 2,623 | Other long-term assets | 424 | 444 | Total assets | $ | 11,919 | $ | 11,974 | LIABILITIES | Current liabilities: | Current portion of long-term debt | $ | 44 | $ | 36 | Accounts payable | 726 | 764 | Accrued compensation and benefits | 691 | 696 | Contract liabilities | 143 | 113 | Other current liabilities | 367 | 356 | Total current liabilities | 1,971 | 1,965 | Long-term debt, net of current portion | 4,636 | 4,643 | Deferred tax liabilities | 347 | 370 | Other long-term liabilities | 402 | 444 | Total liabilities | 7,356 | 7,422 | Commitments and contingencies (Note 14) | |||||||||||||||||||||||||||||||||
| SHAREHOLDERS' EQUITY | Common stock, $0.01 par value, 1,000,000,000 shares authorized; 243,302,257 shares issued and outstanding at December 27, 2024 and 243,302,173 shares issued and outstanding at September 27, 2024. | 2 | 2 | Additional paid-in capital | 4,965 | 4,962 | Retained deficit | (515) | (527) | Accumulated other comprehensive income | 23 | 23 | Total Amentum shareholders' equity | 4,475 | 4,460 | Non-controlling interests | 88 | 92 | Total shareholders' equity | 4,563 | 4,552 | Total liabilities and shareholders' equity | $ | 11,919 | $ | 11,974 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of | ||||||||||||||||||||||||||||||||||||
| (Amounts in millions) | December 27, 2024 | September 27, 2024 | ||||||||||||||||||||||||||||||||||
| Term Loan | $ | 3,750 | $ | 3,750 | Senior notes | 1,000 | 1,000 | Other | 15 | 17 | Total debt | 4,765 | 4,767 | Unamortized original issue discount and unamortized deferred financing costs | (85) | (88) | Total debt, net of original issue discount and deferred financing costs | 4,680 | 4,679 | Less current portion of long-term debt | (44) | (36) | Total long-term debt, net of current portion | $ | 4,636 | $ | 4,643 | |||||||||
| Name | Cash Severance ($) | Prorated Bonus ($) | Benefit Continuation ($)1 | Long Term Disability ($)2 | Outplacement Services ($)3 | Equity With Accelerated Vesting ($)4 | Total ($) | |
| John Heller | Death/Disability | — | 1,586,384 | — | 300,000 | — | — | 1,886,384 |
| Retirement | — | 1,586,384 | — | — | — | — | 1,586,384 | |
| Change-in-Control | — | — | — | — | — | — | — | |
| Qualifying Termination On or After Change-In-Control | 4,900,345 | 1,586,384 | 399,953 | — | 15,000 | — | 6,901,682 | |
| Involuntary Termination | 3,675,259 | 1,586,384 | 386,123 | — | 15,000 | — | 5,662,766 | |
| Voluntary Resignation | — | — | — | — | — | — | — | |
| Termination for Cause | — | — | — | — | — | — | — | |
| Steven J. Demetriou | Death/Disability | — | 1,306,422 | — | 300,000 | — | 1,195,772 | 2,802,194 |
| Retirement | — | 1,306,422 | — | — | — | 1,195,772 | 2,502,194 | |
| Change-in-Control | — | — | — | — | — | — | — | |
| Qualifying Termination On or After Change-In-Control | 5,000,000 | 1,306,422 | 68,304 | — | 15,000 | 1,195,772 | 7,585,498 | |
| Involuntary Termination | 3,750,000 | 1,306,422 | 59,478 | — | 15,000 | 1,195,772 | 6,326,673 | |
| Voluntary Resignation | — | — | — | — | — | — | — | |
| Termination for Cause | — | — | — | — | — | — | — | |
| Stephen A. Arnette | Death/Disability | — | 511,203 | — | 300,000 | — | 1,729,676 | 2,540,879 |
| Retirement | — | 511,203 | — | — | — | 1,729,676 | 2,240,879 | |
| Change-in-Control | — | — | — | — | — | — | — | |
| Qualifying Termination On or After Change-In-Control | 1,800,000 | 511,203 | 59,478 | — | 15,000 | 1,729,676 | 4,115,357 | |
| Involuntary Termination | 1,800,000 | 511,203 | 59,478 | — | 15,000 | 1,729,676 | 4,115,357 | |
| Voluntary Resignation | — | — | — | — | — | — | — | |
| Termination for Cause | — | — | — | — | — | — | — | |
| Travis B. Johnson | Death/Disability | — | 858,781 | — | 300,000 | — | — | 1,158,781 |
| Retirement | — | 858,781 | — | — | — | — | 858,781 | |
| Change-in-Control | — | — | — | — | — | — | — | |
| Qualifying Termination On or After Change-In-Control | 2,107,785 | 858,781 | 137,620 | — | 15,000 | — | 3,119,186 | |
| Involuntary Termination | 2,107,785 | 858,781 | 137,620 | 15,000 | — | 3,119,186 | ||
| Voluntary Resignation | — | — | — | — | — | — | — | |
| Termination for Cause | — | — | — | — | — | — | — | |
| Sean Mullen | Death/Disability | — | 416,061 | — | 270,024 | — | — | 686,085 |
| Retirement | — | 416,061 | — | — | — | — | 416,061 | |
| Change-in-Control | 2,000,000 | — | — | — | — | — | 2,000,000 | |
| Qualifying Termination On or After Change-In-Control | 880,384 | 416,061 | 209,135 | — | 15,000 | — | 1,520,580 | |
| Involuntary Termination | 880,384 | 416,061 | 209,135 | — | 15,000 | — | 1,520,580 | |
| Voluntary Resignation | — | — | — | — | — | — | — | |
| Termination for Cause | — | — | — | — | — | — | — |
