Segment and Geographic Information

12 Months Ended

Jun. 28, 2014

Segments and Geographic Information [Abstract]

Segment and Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

The Company has five reportable segments, aligned primarily by type of product: Consumer Healthcare, Nutritionals, Rx Pharmaceuticals, API, and Specialty Sciences, along with an Other category. As noted in Note 2, in conjunction with the acquisition of Elan on December 18, 2013, the Company expanded its operating segments to include the Specialty Sciences segment, which is comprised of assets focused on the treatment of Multiple Sclerosis (Tysabri®). The accounting policies of each segment are the same as those described in the summary of significant accounting policies set forth in Note 1. The majority of corporate expenses, which generally represent shared services, are charged to operating segments as part of a corporate allocation. Unallocated expenses relate to certain corporate services that are not allocated to the segments.

The Company generated third-party revenues in the following geographic locations⁽¹⁾ during each of the fiscal years presented (in millions):

	2014		2013		2012
Ireland	$	146.7	$	—	$	—
U.S.	3,291.6		2,978.1		2,693.6
All other countries(2)	622.5		561.7		479.6
	$	4,060.8	$	3,539.8	$	3,173.2

⁽¹⁾ The Company attributes revenues to countries based on sales location.

⁽²⁾ Includes sales generated primarily in Israel, U.K., Mexico, Australia, and Canada.

The net book value of property and equipment at June 28, 2014 and June 29, 2013 was as follows (in millions):

	June 28, 2014		June 29, 2013
Ireland	$	2.0	$	—
U.S.	530.7		468.4
Israel	119.6		98.0
All other countries	127.6		115.0
	$	779.9	$	681.4

One customer in the Consumer Healthcare and Nutritionals segments accounted for 19% of net sales in fiscal 2014, 19% in fiscal 2013, and 20% in fiscal 2012.

($ in millions)	Consumer Healthcare			Nutritionals			Rx Pharma-ceuticals			API			Specialty Sciences			Other			Unallocated expenses			Total
Fiscal 2014
Net sales	$	2,219.0		$	551.7		$	927.1		$	137.6		$	146.7		$	78.7		$	—		$	4,060.8
Operating income	$	368.6		$	40.5		$	349.8		$	46.1		$	(68.6	)	$	4.0		$	(173.4	)	$	567.0
Operating income %	16.6		%	7.3		%	37.7		%	33.5		%	(46.7		)%	5.2		%	—		%	14.0		%
Total assets	$	3,774.5		$	1,077.2		$	2,537.2		$	288.0		$	6,096.6		$	106.7		$	—		$	13,880.2
Capital expenditures	$	115.9		$	7.3		$	32.9		$	10.4		$	—		$	5.1		$	—		$	171.6
Fixed assets, net	$	475.7		$	88.6		$	104.8		$	95.7		$	2.1		$	13.0		$	—		$	779.9
Depreciation/amortization	$	63.8		$	38.5		$	86.5		$	11.4		$	154.4		$	4.3		$	—		$	358.9
Fiscal 2013
Net sales	$	2,089.0		$	508.4		$	709.5		$	159.3		—			$	73.6		$	—		$	3,539.8
Operating income	$	363.2		$	35.2		$	263.2		$	48.9		—			$	3.4		$	(34.7	)	$	679.1
Operating income %	17.4		%	6.9		%	37.1		%	30.7		%	—		%	4.6		%	—		%	19.2		%
Total assets	$	2,409.0		$	949.7		$	1,604.9		$	284.5		—			$	102.7		$	—		$	5,350.8
Capital expenditures	$	85.5		$	7.8		$	17.7		$	17.3		—			$	3.8		$	—		$	132.2
Fixed assets, net	$	404.1		$	92.8		$	80.8		$	92.7		—			$	11.1		$	—		$	681.4
Depreciation/amortization	$	53.8		$	38.3		$	54.9		$	9.1		—			$	4.0		$	—		$	160.2
Fiscal 2012
Net sales	$	1,815.8		$	501.0		$	617.4		$	165.8		—			$	73.3		$	—		$	3,173.2
Operating income	$	315.3		$	25.4		$	213.5		$	53.9		—			$	2.0		$	(40.9	)	$	569.2
Operating income %	17.4		%	5.1		%	34.6		%	32.5		%	—		%	2.7		%	—		%	17.9		%
Total assets	$	1,651.4		$	951.0		$	1,072.6		$	258.4		—			$	90.7		$	—		$	4,024.0
Capital expenditures	$	76.3		$	14.4		$	8.0		$	18.5		—			$	3.0		$	—		$	120.2
Fixed assets, net	$	328.0		$	94.5		$	67.6		$	79.6		—			$	8.7		$	—		$	578.4
Depreciation/amortization	$	41.0		$	39.0		$	42.2		$	9.3		—			$	3.8		$	—		$	135.3

The following is a summary of the Company's net sales by major product category (in millions):

	Fiscal 2014		Fiscal 2013		Fiscal 2012
Consumer Healthcare (CHC)
Cough/Cold (1)	$	510.1	$	500.6	$	447.2
Analgesics (1)	504.0		536.0		452.3
Gastrointestinal (1)	400.1		388.8		402.4
Smoking Cessation	236.8		193.2		170.6
Animal Health	178.0		123.2		—
Other CHC (1,2)	390.0		347.3		343.3
Total CHC	2,219.0		2,089.0		1,815.8
Nutritionals
Infant nutritionals	374.8		350.1		352.7
Vitamins, minerals and dietary supplements	176.9		158.3		148.3
Total Nutritionals	551.7		508.4		501.0
Generic prescription drugs	927.1		709.5		617.4
Active pharmaceutical ingredients	137.6		159.3		165.8
Specialty sciences - Tysabri®	146.7		—		—
Pharmaceutical and medical diagnostic products	78.7		73.6		73.3
Total Net Sales	$	4,060.8	$	3,539.8	$	3,173.2

⁽¹⁾ Includes sales from the Company's contract manufacturing business.

⁽²⁾ Consists primarily of feminine hygiene, diabetes care, dermatological care and other miscellaneous or otherwise uncategorized product lines and markets