Supplemental Subsidiary Guarantors (Tables) (Supplemental Subsidiary Guarantors)

3 Months Ended

Jan. 31, 2014

Supplemental Subsidiary Guarantors

Condensed Financial Statements, Captions [Line Items]

Subsidiary guarantor condensed consolidating statement of income

Condensed Consolidating Statement of Income Quarter ended January 31, 2014
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	478,576		$	604,861		$	(244,125	)	$	839,312
Cost of sales	—			361,369			447,537			(204,728		)	604,178
Product development, selling and administrative expenses	14,669			67,591			70,769			—			153,029
Other (income) expense	(473		)	2,330			(4,997		)	—			(3,140		)
Operating income (loss)	(14,196		)	47,286			91,552			(39,397		)	85,245
Intercompany items	17,278			(19,986		)	(9,071		)	11,779			—
Interest (expense) income, net	(16,045		)	1,854			371			—			(13,820		)
Income (loss) from continuing operations before income taxes and equity in income of subsidiaries	(12,963		)	29,154			82,852			(27,618		)	71,425
Provision (benefit) for income taxes	(5,054		)	27,256			362			—			22,564
Equity in income of subsidiaries	56,770			33,013			—			(89,783		)	—
Income from continuing operations	$	48,861		$	34,911		$	82,490		$	(117,401	)	$	48,861
Comprehensive income	$	2,403		$	33,376		$	34,786		$	(68,162	)	$	2,403

Condensed Consolidating Statement of Income Quarter ended January 25, 2013
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	600,956		$	877,521		$	(328,600	)	$	1,149,877
Cost of sales	—			410,643			621,120			(258,614		)	773,149
Product development, selling and administrative expenses	12,802			74,117			70,362			—			157,281
Other (income) expense	—			9,176			(10,881		)	—			(1,705		)
Operating income (loss)	(12,802		)	107,020			196,920			(69,986		)	221,152
Intercompany items	31,120			(19,848		)	(35,657		)	24,385			—
Interest (expense) income, net	(22,570		)	97			7,320			—			(15,153		)
Income (loss) from continuing operations before income taxes and equity in income of subsidiaries	(4,252		)	87,269			168,583			(45,601		)	205,999
Provision (benefit) for income taxes	(9,276		)	57,046			16,090			—			63,860
Equity in income of subsidiaries	137,115			92,701			—			(229,816		)	—
Income from continuing operations	$	142,139		$	122,924		$	152,493		$	(275,417	)	$	142,139
Comprehensive income	$	145,367		$	121,201		$	149,000		$	(270,201	)	$	145,367

Subsidiary guarantor condensed consolidating balance sheet

Condensed Consolidating Balance Sheet As of January 31, 2014
In thousands	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	29,665		$	6,580	$	254,654	$	—		$	290,899
Accounts receivable, net	—			390,404		571,903		(8,515		)	953,792
Inventories	—			455,890		804,206		(124,984		)	1,135,112
Other current assets	72,409			8,799		126,808		15			208,031
Total current assets	102,074			861,673		1,757,571		(133,484		)	2,587,834
Property, plant and equipment, net	20,885			363,273		513,726		—			897,884
Other assets:
Other intangible assets, net	—			242,456		83,116		—			325,572
Goodwill	—			454,199		1,025,122		—			1,479,321
Deferred income taxes	(33,294		)	—		71,017		—			37,723
Other non-current assets	4,113,404			1,800,826		2,617,174		(8,336,062		)	195,342
Total other assets	4,080,110			2,497,481		3,796,429		(8,336,062		)	2,037,958
Total assets	$	4,203,069		$	3,722,427	$	6,067,726	$	(8,469,546	)	$	5,523,676
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term notes payable, including current portion of long-term obligations	$	50,000		$	—	$	8,356	$	—		$	58,356
Trade accounts payable	731			138,347		144,891		—			283,969
Employee compensation and benefits	8,497			42,910		44,359		—			95,766
Advance payments and progress billings	—			162,715		331,384		(21,253		)	472,846
Accrued warranties	—			27,281		50,523		—			77,804
Other accrued liabilities	38,454			49,851		158,414		(3,631		)	243,088
Current liabilities of discontinued operations	—			11,684		—		—			11,684
Total current liabilities	97,682			432,788		737,927		(24,884		)	1,243,513
Long-term obligations	1,243,860			—		14		—			1,243,874
Other liabilities:
Liabilities for postretirement benefits	19,471			848		—		—			20,319
Accrued pension costs	131,673			5,502		7,146		—			144,321
Other non-current liabilities	(14,656		)	8,169		153,097		—			146,610
Total other liabilities	136,488			14,519		160,243		—			311,250
Shareholders’ equity	2,725,039			3,275,120		5,169,542		(8,444,662		)	2,725,039
Total liabilities and shareholders’ equity	$	4,203,069		$	3,722,427	$	6,067,726	$	(8,469,546	)	$	5,523,676

Condensed Consolidating Balance Sheet As of October 25, 2013
In thousands	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	122,901		$	20,361	$	262,447	$	—		$	405,709
Accounts receivable, net	—			402,321		687,790		(6,448		)	1,083,663
Inventories	—			456,345		813,182		(129,783		)	1,139,744
Other current assets	68,792			16,957		107,564		15			193,328
Total current assets	191,693			895,984		1,870,983		(136,216		)	2,822,444
Property, plant and equipment, net	18,081			373,235		521,326		—			912,642
Other assets:
Other intangible assets, net	—			247,200		84,612		—			331,812
Goodwill	—			454,199		1,026,320		—			1,480,519
Deferred income taxes	(49,393		)	—		90,925		—			41,532
Other non-current assets	4,168,916			2,070,239		3,963,205		(10,001,727		)	200,633
Total other assets	4,119,523			2,771,638		5,165,062		(10,001,727		)	2,054,496
Total assets	$	4,329,297		$	4,040,857	$	7,557,371	$	(10,137,943	)	$	5,789,582
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term notes payable, including current portion of long-term obligations	$	50,000		$	449	$	8,220	$	—		$	58,669
Trade accounts payable	2,565			165,045		220,509		—			388,119
Employee compensation and benefits	10,080			52,260		68,215		—			130,555
Advance payments and progress billings	—			144,853		269,628		(14,713		)	399,768
Accrued warranties	—			30,111		55,621		—			85,732
Other accrued liabilities	24,545			54,285		211,074		(3,841		)	286,063
Current liabilities of discontinued operations	—			11,684		—		—			11,684
Total current liabilities	87,190			458,687		833,267		(18,554		)	1,360,590
Long-term obligations	1,256,164			763		—		—			1,256,927
Other liabilities:
Liabilities for postretirement benefits	19,881			842		—		—			20,723
Accrued pension costs	136,886			5,685		7,234		—			149,805
Other non-current liabilities	(29,193		)	7,851		164,510		—			143,168
Total other liabilities	127,574			14,378		171,744		—			313,696
Shareholders’ equity	2,858,369			3,567,029		6,552,360		(10,119,389		)	2,858,369
Total liabilities and shareholders’ equity	$	4,329,297		$	4,040,857	$	7,557,371	$	(10,137,943	)	$	5,789,582

Subsidiary guarantor condensed consolidating statement of cash flows

Condensed Consolidating Statement of Cash Flows Quarter ended January 31, 2014
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided (used) by operating activities of continuing operations	$	61,014		$	(9,829	)	$	13,654		$	64,839
Net cash provided by operating activities of discontinued operations	—			67			—			67
Net cash provided (used) by operating activities	61,014			(9,762		)	13,654			64,906
Investing Activities:
Property, plant and equipment acquired	(3,544		)	(4,084		)	(19,027		)	(26,655		)
Proceeds from sale of property, plant and equipment	—			1,277			804			2,081
Other investing activities, net	(21		)	—			—			(21		)
Net cash used by investing activities	(3,565		)	(2,807		)	(18,223		)	(24,595		)
Financing Activities:
Common stock issued	1,985			—			—			1,985
Excess tax detriment from share-based compensation awards	(284		)	—			—			(284		)
Dividends paid	(17,850		)	—			—			(17,850		)
Repayments of term loan	(12,500		)	—			—			(12,500		)
Change in short and long-term obligations, net	—			(1,212		)	(47		)	(1,259		)
Treasury stock purchased	(122,036		)	—			—			(122,036		)
Net cash used by financing activities	(150,685		)	(1,212		)	(47		)	(151,944		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(3,177		)	(3,177		)
Decrease in Cash and Cash Equivalents	(93,236		)	(13,781		)	(7,793		)	(114,810		)
Cash and Cash Equivalents at Beginning of Period	122,901			20,361			262,447			405,709
Cash and Cash Equivalents at End of Period	$	29,665		$	6,580		$	254,654		$	290,899

Condensed Consolidating Statement of Cash Flows Quarter ended January 25, 2013
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided by operating activities of continuing operations	$	51,491		$	15,201		$	25,373		$	92,065
Net cash used by operating activities of discontinued operations	—			(1,571		)	—			(1,571		)
Net cash provided by operating activities	51,491			13,630			25,373			90,494
Investing Activities:
Property, plant and equipment acquired	(1,417		)	(14,081		)	(39,090		)	(54,588		)
Proceeds from sale of property, plant and equipment	—			(2,489		)	3,542			1,053
Other investing activities, net	(32		)	—			1,825			1,793
Net cash used by investing activities	(1,449		)	(16,570		)	(33,723		)	(51,742		)
Financing Activities:
Common stock issued	3,012			—			—			3,012
Excess tax benefit from share-based compensation awards	1,522			—			—			1,522
Dividends paid	(18,542		)	—			—			(18,542		)
Repayments of term loan	(12,500		)	—			—			(12,500		)
Change in short and long-term obligations, net	—			(104		)	(4,598		)	(4,702		)
Net cash used by financing activities	(26,508		)	(104		)	(4,598		)	(31,210		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(1,520		)	(1,520		)
Increase (Decrease) in Cash and Cash Equivalents	23,534			(3,044		)	(14,468		)	6,022
Cash and Cash Equivalents at Beginning of Period	3,459			6,628			253,786			263,873
Cash and Cash Equivalents at End of Period	$	26,993		$	3,584		$	239,318		$	269,895