XML 36 R22.htm IDEA: XBRL DOCUMENT

Noncontrolling Interest

9 Months Ended

Jul. 01, 2011

Noncontrolling Interest

Noncontrolling Interest

(16)

NONCONTROLLING INTEREST:

During the third quarter of fiscal 2011, the Company sold a noncontrolling ownership interest in Seamless North America, LLC, an online and mobile food ordering service, for consideration of $50.0 million in cash. The carrying value of the noncontrolling ownership interest sold at the time of the transaction was approximately $30.9 million, which resulted in an increase to "Noncontrolling interest" in the Condensed Consolidated Balance Sheet. The difference between the consideration received, the carrying value of the noncontrolling ownership sold, the related tax consequences of the sale, and the fees incurred on the sale of the noncontrolling interest resulted in an increase of approximately $0.2 million to "Capital surplus" in the Condensed Consolidated Balance Sheet. The Company incurred approximately $1.6 million of pretax transaction-related costs, of which approximately $1.0 million was paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. The Company is in the process of finalizing the working capital adjustment pursuant to the terms of the sale agreement.

The following table presents the changes from net income (loss) attributable to ARAMARK shareholder and transfers from the noncontrolling interest:


		Three Months Ended July 1, 2011				Nine Months Ended July 1, 2011
Net income (loss) attributable to ARAMARK shareholder		$	(512	)		$	58,279
Transfers from the noncontrolling interest
Increase in ARAMARK's capital surplus from the sale of shares in Seamless North America, LLC			162				162

Net transfers from noncontrolling interest			162				162

Change from net income (loss) attributable to ARAMARK shareholder and transfer from noncontrolling interest		$	(350	)		$	58,441

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References+ Details