Guarantor Financial Statements |
Guarantor Financial Statements TIFSA, a 100% owned subsidiary of the Company, has public debt securities outstanding which are fully and unconditionally guaranteed by Tyco and by Tyco Fire & Security Finance SCA ("TIFSCA"), a wholly owned subsidiary of Tyco and parent company of TIFSA. The following tables present condensed consolidating financial information for Tyco, TIFSCA, TIFSA and all other subsidiaries. Condensed financial information for Tyco, TIFSCA and TIFSA on a stand-alone basis is presented using the equity method of accounting for subsidiaries. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Quarter Ended March 25, 2016 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net revenue | $ | — |
| | $ | — |
| | $ | — |
| | $ | 2,331 |
| | $ | — |
| | $ | 2,331 |
| Cost of product sales | — |
| | — |
| | — |
| | 968 |
| | — |
| | 968 |
| Cost of services | — |
| | — |
| | — |
| | 506 |
| | — |
| | 506 |
| Selling, general and administrative expenses | 2 |
| | — |
| | 1 |
| | 599 |
| | — |
| | 602 |
| Merger costs | — |
| | — |
| | 10 |
| | 16 |
| | — |
| | 26 |
| Restructuring and asset impairment charges, net | — |
| | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Operating (loss) income | (2 | ) | | — |
| | (11 | ) | | 238 |
| | — |
| | 225 |
| Interest income | — |
| | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Interest expense | — |
| | — |
| | (22 | ) | | — |
| | — |
| | (22 | ) | Other (expense) income, net | — |
| | — |
| | (1 | ) | | 1 |
| | — |
| | — |
| Equity in net income of subsidiaries | 145 |
| | 144 |
| | 156 |
| | — |
| | (445 | ) | | — |
| Intercompany interest and fees | 5 |
| | — |
| | 22 |
| | (27 | ) | | — |
| | — |
| Income from continuing operations before income taxes | 148 |
| | 144 |
| | 144 |
| | 216 |
| | (445 | ) | | 207 |
| Income tax expense | (2 | ) | | — |
| | — |
| | (61 | ) | | — |
| | (63 | ) | Income from continuing operations | 146 |
| | 144 |
| | 144 |
| | 155 |
| | (445 | ) | | 144 |
| Income from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | 1 |
| | — |
| | 1 |
| Net income | 146 |
| | 144 |
| | 144 |
| | 156 |
| | (445 | ) | | 145 |
| Less: noncontrolling interest in subsidiaries net loss | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net income attributable to Tyco ordinary shareholders | $ | 146 |
| | $ | 144 |
| | $ | 144 |
| | $ | 157 |
| | $ | (445 | ) | | $ | 146 |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Quarter Ended March 25, 2016 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net income | $ | 146 |
| | $ | 144 |
| | $ | 144 |
| | $ | 156 |
| | $ | (445 | ) | | $ | 145 |
| Other comprehensive income (loss), net of tax | | | | | | | | | | | | Foreign currency translation | 44 |
| | — |
| | (13 | ) | | 57 |
| | (44 | ) | | 44 |
| Defined benefit and post retirement plans | 3 |
| | — |
| | — |
| | 3 |
| | (3 | ) | | 3 |
| Unrealized gain on marketable securities and derivative instruments, net of tax | 2 |
| | — |
| | — |
| | 2 |
| | (2 | ) | | 2 |
| Total other comprehensive income (loss), net of tax | 49 |
| | — |
| | (13 | ) | | 62 |
| | (49 | ) | | 49 |
| Comprehensive income | 195 |
| | 144 |
| | 131 |
| | 218 |
| | (494 | ) | | 194 |
| Less: comprehensive loss attributable to noncontrolling interests | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Comprehensive income attributable to Tyco ordinary shareholders | $ | 195 |
| | $ | 144 |
| | $ | 131 |
| | $ | 219 |
| | $ | (494 | ) | | $ | 195 |
|
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Quarter Ended March 27, 2015 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net revenue | $ | — |
| | $ | — |
| | $ | — |
| | $ | 2,430 |
| | $ | — |
| | $ | 2,430 |
| Cost of product sales | — |
| | — |
| | — |
| | 999 |
| | — |
| | 999 |
| Cost of services | — |
| | — |
| | — |
| | 550 |
| | — |
| | 550 |
| Selling, general and administrative expenses | 2 |
| | — |
| | — |
| | 646 |
| | — |
| | 648 |
| Restructuring and asset impairment charges, net
| — |
| | — |
| | — |
| | 12 |
| | — |
| | 12 |
| Operating (loss) income | (2 | ) | | — |
| | — |
| | 223 |
| | — |
| | 221 |
| Interest income | — |
| | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Interest expense | — |
| | — |
| | (24 | ) | | (1 | ) | | — |
| | (25 | ) | Other (expense) income, net | — |
| | — |
| | (2 | ) | | 1 |
| | — |
| | (1 | ) | Equity in net income of subsidiaries | 152 |
| | 158 |
| | 160 |
| | — |
| | (470 | ) | | — |
| Intercompany interest and fees | 17 |
| | — |
| | 24 |
| | (41 | ) | | — |
| | — |
| Income from continuing operations before income taxes | 167 |
| | 158 |
| | 158 |
| | 186 |
| | (470 | ) | | 199 |
| Income tax expense | — |
| | — |
| | — |
| | (18 | ) | | — |
| | (18 | ) | Income from continuing operations | 167 |
| | 158 |
| | 158 |
| | 168 |
| | (470 | ) | | 181 |
| Loss from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | (16 | ) | | — |
| | (16 | ) | Net income | 167 |
| | 158 |
| | 158 |
| | 152 |
| | (470 | ) | | 165 |
| Less: noncontrolling interest in subsidiaries net loss | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Net income attributable to Tyco ordinary shareholders | $ | 167 |
| | $ | 158 |
| | $ | 158 |
| | $ | 154 |
| | $ | (470 | ) | | $ | 167 |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Quarter Ended March 27, 2015 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net income | $ | 167 |
| | $ | 158 |
| | $ | 158 |
| | $ | 152 |
| | $ | (470 | ) | | $ | 165 |
| Other comprehensive (loss) income, net of tax | | | | | | | | | | | | Foreign currency translation | (176 | ) | | — |
| | 16 |
| | (192 | ) | | 176 |
| | (176 | ) | Defined benefit and post retirement plans | 4 |
| | — |
| | — |
| | 4 |
| | (4 | ) | | 4 |
| Total other comprehensive (loss) income, net of tax | (172 | ) | | — |
| | 16 |
| | (188 | ) | | 172 |
| | (172 | ) | Comprehensive (loss) income | (5 | ) | | 158 |
| | 174 |
| | (36 | ) | | (298 | ) | | (7 | ) | Less: comprehensive loss attributable to noncontrolling interests | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Comprehensive (loss) income attributable to Tyco ordinary shareholders | $ | (5 | ) | | $ | 158 |
| | $ | 174 |
| | $ | (34 | ) | | $ | (298 | ) | | $ | (5 | ) |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Six Months Ended March 25, 2016 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net revenue | $ | — |
| | $ | — |
| | $ | — |
| | $ | 4,707 |
| | $ | — |
| | $ | 4,707 |
| Cost of product sales | — |
| | — |
| | — |
| | 1,930 |
| | — |
| | 1,930 |
| Cost of services | — |
| | — |
| | — |
| | 1,042 |
| | — |
| | 1,042 |
| Selling, general and administrative expenses | 4 |
| | — |
| | 1 |
| | 1,170 |
| | — |
| | 1,175 |
| Merger costs | — |
| | — |
| | 10 |
| | 16 |
| | — |
| | 26 |
| Restructuring and asset impairment charges, net | — |
| | — |
| | — |
| | 16 |
| | — |
| | 16 |
| Operating (loss) income | (4 | ) | | — |
| | (11 | ) | | 533 |
| | — |
| | 518 |
| Interest income | — |
| | — |
| | — |
| | 8 |
| | — |
| | 8 |
| Interest expense | — |
| | — |
| | (45 | ) | | (1 | ) | | — |
| | (46 | ) | Other (expense) income, net
| — |
| | — |
| | (166 | ) | | 1 |
| | — |
| | (165 | ) | Equity in net income of subsidiaries | 163 |
| | 160 |
| | 335 |
| | — |
| | (658 | ) | | — |
| Intercompany interest and fees | 65 |
| | — |
| | 47 |
| | (112 | ) | | — |
| | — |
| Income from continuing operations before income taxes | 224 |
| | 160 |
| | 160 |
| | 429 |
| | (658 | ) | | 315 |
| Income tax expense | (2 | ) | | — |
| | — |
| | (97 | ) | | — |
| | (99 | ) | Income from continuing operations | 222 |
| | 160 |
| | 160 |
| | 332 |
| | (658 | ) | | 216 |
| Income from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | 5 |
| | — |
| | 5 |
| Net income | 222 |
| | 160 |
| | 160 |
| | 337 |
| | (658 | ) | | 221 |
| Less: noncontrolling interest in subsidiaries net loss | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net income attributable to Tyco ordinary shareholders | $ | 222 |
| | $ | 160 |
| | $ | 160 |
| | $ | 338 |
| | $ | (658 | ) | | $ | 222 |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended March 25, 2016 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net income | $ | 222 |
| | $ | 160 |
| | $ | 160 |
| | $ | 337 |
| | $ | (658 | ) | | $ | 221 |
| Other comprehensive income, net of tax | | | | | | | | | | | | Foreign currency translation | 1 |
| | — |
| | 1 |
| | — |
| | (1 | ) | | 1 |
| Defined benefit and post retirement plans | 8 |
| | — |
| | — |
| | 8 |
| | (8 | ) | | 8 |
| Unrealized gain on marketable securities and derivative instruments, net of tax | 3 |
| | — |
| | — |
| | 3 |
| | (3 | ) | | 3 |
| Total other comprehensive income, net of tax | 12 |
| | — |
| | 1 |
| | 11 |
| | (12 | ) | | 12 |
| Comprehensive income | 234 |
| | 160 |
| | 161 |
| | 348 |
| | (670 | ) | | 233 |
| Less: comprehensive loss attributable to noncontrolling interests | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Comprehensive income attributable to Tyco ordinary shareholders | $ | 234 |
| | $ | 160 |
| | $ | 161 |
| | $ | 349 |
| | $ | (670 | ) | | $ | 234 |
|
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Six Months Ended March 27, 2015 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net revenue | $ | — |
| | $ | — |
| | $ | — |
| | $ | 4,908 |
| | $ | — |
| | $ | 4,908 |
| Cost of product sales | — |
| | — |
| | — |
| | 2,021 |
| | — |
| | 2,021 |
| Cost of services | — |
| | — |
| | — |
| | 1,097 |
| | — |
| | 1,097 |
| Selling, general and administrative expenses | 5 |
| | — |
| | 1 |
| | 1,294 |
| | — |
| | 1,300 |
| Restructuring and asset impairment charges, net | — |
| | — |
| | — |
| | 70 |
| | — |
| | 70 |
| Operating (loss) income | (5 | ) | | — |
| | (1 | ) | | 426 |
| | — |
| | 420 |
| Interest income | — |
| | — |
| | — |
| | 7 |
| | — |
| | 7 |
| Interest expense | — |
| | — |
| | (48 | ) | | (1 | ) | | — |
| | (49 | ) | Other income, net | — |
| | — |
| | 2 |
| | 1 |
| | — |
| | 3 |
| Equity in net income of subsidiaries | 295 |
| | 291 |
| | 287 |
| | — |
| | (873 | ) | | — |
| Intercompany interest and fees | 39 |
| | — |
| | 51 |
| | (90 | ) | | — |
| | — |
| Income from continuing operations before income taxes | 329 |
| | 291 |
| | 291 |
| | 343 |
| | (873 | ) | | 381 |
| Income tax expense | — |
| | — |
| | — |
| | (37 | ) | | — |
| | (37 | ) | Income from continuing operations | 329 |
| | 291 |
| | 291 |
| | 306 |
| | (873 | ) | | 344 |
| Loss from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | (18 | ) | | — |
| | (18 | ) | Net income | 329 |
| | 291 |
| | 291 |
| | 288 |
| | (873 | ) | | 326 |
| Less: noncontrolling interest in subsidiaries net loss | — |
| | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Net income attributable to Tyco ordinary shareholders | $ | 329 |
| | $ | 291 |
| | $ | 291 |
| | $ | 291 |
| | $ | (873 | ) | | $ | 329 |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended March 27, 2015 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Net income | $ | 329 |
| | $ | 291 |
| | $ | 291 |
| | $ | 288 |
| | $ | (873 | ) | | $ | 326 |
| Other comprehensive (loss) income, net of tax | | |
| | | | | | | | | Foreign currency translation | (374 | ) | | — |
| | 15 |
| | (389 | ) | | 374 |
| | (374 | ) | Defined benefit and post retirement plans | 9 |
| | — |
| | — |
| | 9 |
| | (9 | ) | | 9 |
| Total other comprehensive (loss) income, net of tax | (365 | ) | | — |
| | 15 |
| | (380 | ) | | 365 |
| | (365 | ) | Comprehensive (loss) income | (36 | ) | | 291 |
| | 306 |
| | (92 | ) | | (508 | ) | | (39 | ) | Less: comprehensive loss attributable to noncontrolling interests | — |
| | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Comprehensive (loss) income attributable to Tyco ordinary shareholders | $ | (36 | ) | | $ | 291 |
| | $ | 306 |
| | $ | (89 | ) | | $ | (508 | ) | | $ | (36 | ) |
CONDENSED CONSOLIDATING BALANCE SHEET As of March 25, 2016 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Assets | | | | | | | | | | | | Current Assets: | | | | | | | | | | | | Cash and cash equivalents | $ | — |
| | $ | — |
| | $ | — |
| | $ | 345 |
| | $ | — |
| | $ | 345 |
| Accounts receivable, net | — |
| | — |
| | — |
| | 1,722 |
| | — |
| | 1,722 |
| Inventories | — |
| | — |
| | — |
| | 670 |
| | — |
| | 670 |
| Intercompany receivables | 15 |
| | — |
| | 496 |
| | 7,629 |
| | (8,140 | ) | | — |
| Prepaid expenses and other current assets | 1 |
| | — |
| | 58 |
| | 805 |
| | — |
| | 864 |
| Deferred income taxes | — |
| | — |
| | — |
| | 62 |
| | — |
| | 62 |
| Total Current Assets | 16 |
| | — |
| | 554 |
| | 11,233 |
| | (8,140 | ) | | 3,663 |
| Property, plant and equipment, net | — |
| | — |
| | — |
| | 1,189 |
| | — |
| | 1,189 |
| Goodwill | — |
| | — |
| | — |
| | 4,460 |
| | — |
| | 4,460 |
| Intangible assets, net | — |
| | — |
| | — |
| | 1,025 |
| | — |
| | 1,025 |
| Investment in subsidiaries | 11,086 |
| | 11,343 |
| | 16,373 |
| | — |
| | (38,802 | ) | | — |
| Intercompany loans receivable | — |
| | — |
| | 2,937 |
| | 5,100 |
| | (8,037 | ) | | — |
| Other assets | 1 |
| | — |
| | 50 |
| | 1,223 |
| | — |
| | 1,274 |
| Total Assets | $ | 11,103 |
| | $ | 11,343 |
| | $ | 19,914 |
| | $ | 24,230 |
| | $ | (54,979 | ) | | $ | 11,611 |
| Liabilities and Equity | | | | | | | | | | | | Current Liabilities: | | | | | | | | | | | | Loans payable and current maturities of long-term debt | $ | — |
| | $ | — |
| | $ | 400 |
| | $ | — |
| | $ | — |
| | $ | 400 |
| Accounts payable | 2 |
| | — |
| | — |
| | 795 |
| | — |
| | 797 |
| Accrued and other current liabilities | 89 |
| | — |
| | 96 |
| | 1,458 |
| | — |
| | 1,643 |
| Deferred revenue | — |
| | — |
| | — |
| | 393 |
| | — |
| | 393 |
| Intercompany payables | 3,704 |
| | — |
| | 3,931 |
| | 505 |
| | (8,140 | ) | | — |
| Total Current Liabilities | 3,795 |
| | — |
| | 4,427 |
| | 3,151 |
| | (8,140 | ) | | 3,233 |
| Long-term debt | — |
| | — |
| | 2,158 |
| | 1 |
| | — |
| | 2,159 |
| Intercompany loans payable | 3,166 |
| | — |
| | 1,934 |
| | 2,937 |
| | (8,037 | ) | | — |
| Deferred revenue | — |
| | — |
| | — |
| | 285 |
| | — |
| | 285 |
| Other liabilities | — |
| | — |
| | 52 |
| | 1,704 |
| | — |
| | 1,756 |
| Total Liabilities | 6,961 |
| | — |
| | 8,571 |
| | 8,078 |
| | (16,177 | ) | | 7,433 |
| Tyco Shareholders' Equity: | | | | | | | | | | | | Ordinary shares | 4 |
| | — |
| | — |
| | — |
| | — |
| | 4 |
| Ordinary shares held in treasury | (15 | ) | | — |
| | — |
| | — |
| | — |
| | (15 | ) | Other shareholders' equity | 4,153 |
| | 11,343 |
| | 11,343 |
| | 16,116 |
| | (38,802 | ) | | 4,153 |
| Total Tyco Shareholders' Equity | 4,142 |
| | 11,343 |
| | 11,343 |
| | 16,116 |
| | (38,802 | ) | | 4,142 |
| Nonredeemable noncontrolling interest | — |
| | — |
| | — |
| | 36 |
| | — |
| | 36 |
| Total Equity | 4,142 |
| | 11,343 |
| | 11,343 |
| | 16,152 |
| | (38,802 | ) | | 4,178 |
| Total Liabilities and Equity | $ | 11,103 |
| | $ | 11,343 |
| | $ | 19,914 |
| | $ | 24,230 |
| | $ | (54,979 | ) | | $ | 11,611 |
|
CONDENSED CONSOLIDATING BALANCE SHEET As of September 25, 2015 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Assets | | | | | | | | | | | | Current Assets: | | | | | | | | | | | | Cash and cash equivalents | $ | — |
| | $ | — |
| | $ | — |
| | $ | 1,401 |
| | $ | — |
| | $ | 1,401 |
| Accounts receivable, net | — |
| | — |
| | — |
| | 1,732 |
| | — |
| | 1,732 |
| Inventories | — |
| | — |
| | — |
| | 624 |
| | — |
| | 624 |
| Intercompany receivables | 15 |
| | — |
| | 332 |
| | 6,508 |
| | (6,855 | ) | | — |
| Prepaid expenses and other current assets | — |
| | — |
| | 63 |
| | 691 |
| | — |
| | 754 |
| Deferred income taxes | — |
| | — |
| | — |
| | 62 |
| | — |
| | 62 |
| Assets held for sale | — |
| | — |
| | — |
| | 102 |
| | — |
| | 102 |
| Total Current Assets | 15 |
| | — |
| | 395 |
| | 11,120 |
| | (6,855 | ) | | 4,675 |
| Property, plant and equipment, net | — |
| | — |
| | — |
| | 1,177 |
| | — |
| | 1,177 |
| Goodwill | — |
| | — |
| | — |
| | 4,234 |
| | — |
| | 4,234 |
| Intangible assets, net | — |
| | — |
| | — |
| | 863 |
| | — |
| | 863 |
| Investment in subsidiaries | 10,885 |
| | 11,148 |
| | 16,001 |
| | — |
| | (38,034 | ) | | — |
| Intercompany loans receivable | — |
| | — |
| | 2,942 |
| | 5,066 |
| | (8,008 | ) | | — |
| Other assets | 1 |
| | — |
| | 44 |
| | 1,327 |
| | — |
| | 1,372 |
| Total Assets | $ | 10,901 |
| | $ | 11,148 |
| | $ | 19,382 |
| | $ | 23,787 |
| | $ | (52,897 | ) | | $ | 12,321 |
| Liabilities and Equity | | | | | | | | | | | | Current Liabilities: | | | | | | | | | | | | Loans payable and current maturities of long-term debt | $ | — |
| | $ | — |
| | $ | 967 |
| | $ | 20 |
| | $ | — |
| | $ | 987 |
| Accounts payable | 1 |
| | — |
| | — |
| | 773 |
| | — |
| | 774 |
| Accrued and other current liabilities | 88 |
| | — |
| | 61 |
| | 1,512 |
| | — |
| | 1,661 |
| Deferred revenue | — |
| | — |
| | — |
| | 380 |
| | — |
| | 380 |
| Intercompany payables | 3,616 |
| | — |
| | 2,892 |
| | 347 |
| | (6,855 | ) | | — |
| Liabilities held for sale | — |
| | — |
| | — |
| | 50 |
| | — |
| | 50 |
| Total Current Liabilities | 3,705 |
| | — |
| | 3,920 |
| | 3,082 |
| | (6,855 | ) | | 3,852 |
| Long-term debt | — |
| | — |
| | 2,158 |
| | 1 |
| | — |
| | 2,159 |
| Intercompany loans payable | 3,155 |
| | — |
| | 1,911 |
| | 2,942 |
| | (8,008 | ) | | — |
| Deferred revenue | — |
| | — |
| | — |
| | 303 |
| | — |
| | 303 |
| Other liabilities | — |
| | — |
| | 245 |
| | 1,686 |
| | — |
| | 1,931 |
| Total Liabilities | 6,860 |
| | — |
| | 8,234 |
| | 8,014 |
| | (14,863 | ) | | 8,245 |
| Tyco Shareholders' Equity: | | | | | | | | | | | | Ordinary shares | 4 |
| | — |
| | — |
| | — |
| | — |
| | 4 |
| Other shareholders' equity | 4,037 |
| | 11,148 |
| | 11,148 |
| | 15,738 |
| | (38,034 | ) | | 4,037 |
| Total Tyco Shareholders' Equity | 4,041 |
| | 11,148 |
| | 11,148 |
| | 15,738 |
| | (38,034 | ) | | 4,041 |
| Nonredeemable noncontrolling interest | — |
| | — |
| | — |
| | 35 |
| | — |
| | 35 |
| Total Equity | 4,041 |
| | 11,148 |
| | 11,148 |
| | 15,773 |
| | (38,034 | ) | | 4,076 |
| Total Liabilities and Equity | $ | 10,901 |
| | $ | 11,148 |
| | $ | 19,382 |
| | $ | 23,787 |
| | $ | (52,897 | ) | | $ | 12,321 |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended March 25, 2016 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Cash Flows From Operating Activities: | | | | | | | | | | | | Net cash provided by (used in) operating activities | $ | 160 |
| | $ | — |
| | $ | 701 |
| | $ | (548 | ) | | $ | — |
| | $ | 313 |
| Net cash used in discontinued operating activities | — |
| | — |
| | — |
| | (11 | ) | | — |
| | (11 | ) | Cash Flows From Investing Activities: | | | | | | | | | | | | Capital expenditures | — |
| | — |
| | — |
| | (143 | ) | | — |
| | (143 | ) | Acquisition of businesses, net of cash acquired | — |
| | — |
| | — |
| | (314 | ) | | — |
| | (314 | ) | Acquisition of dealer generated customer accounts and bulk account purchases | — |
| | — |
| | — |
| | (11 | ) | | — |
| | (11 | ) | Divestiture of businesses, net of cash divested | — |
| | — |
| | — |
| | 9 |
| | — |
| | 9 |
| Net decrease in intercompany loans | — |
| | — |
| | 28 |
| | — |
| | (28 | ) | | — |
| Sales and maturities of investments including restricted investments | — |
| | — |
| | 5 |
| | 3 |
| | — |
| | 8 |
| Purchases of investments including restricted investments | — |
| | — |
| | — |
| | (7 | ) | | — |
| | (7 | ) | Decrease in restricted cash | — |
| | — |
| | — |
| | 24 |
| | — |
| | 24 |
| Other | — |
| | — |
| | — |
| | 1 |
| | — |
| | 1 |
| Net cash provided by (used in) investing activities | — |
| | — |
| | 33 |
| | (438 | ) | | (28 | ) | | (433 | ) | Net cash provided by discontinued investing activities | — |
| | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Cash Flows From Financing Activities: | | | | | | | | | | | | Proceeds from issuance of short-term debt | — |
| | — |
| | 2,498 |
| | — |
| | — |
| | 2,498 |
| Repayment of short-term debt | — |
| | — |
| | (2,098 | ) | | — |
| | — |
| | (2,098 | ) | Repayment of current portion of long-term debt | — |
| | — |
| | (1,134 | ) | | — |
| | — |
| | (1,134 | ) | Proceeds from exercise of share options | 26 |
| | — |
| | — |
| | — |
| | — |
| | 26 |
| Dividends paid | (174 | ) | | — |
| | — |
| | — |
| | — |
| | (174 | ) | Net intercompany loan repayments | — |
| | — |
| | — |
| | (28 | ) | | 28 |
| | — |
| Transfer to discontinued operations | — |
| | — |
| | — |
| | (7 | ) | | — |
| | (7 | ) | Payment of contingent consideration | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Debt financing costs | — |
| | — |
| | — |
| | (23 | ) | | — |
| | (23 | ) | Other | (12 | ) | | — |
| | — |
| | (1 | ) | | — |
| | (13 | ) | Net cash used in financing activities | (160 | ) | | — |
| | (734 | ) | | (60 | ) | | 28 |
| | (926 | ) | Net cash provided by discontinued financing activities | — |
| | — |
| | — |
| | 7 |
| | — |
| | 7 |
| Effect of currency translation on cash | — |
| | — |
| | — |
| | (10 | ) | | — |
| | (10 | ) | Net decrease in cash and cash equivalents | — |
| | — |
| | — |
| | (1,056 | ) | | — |
| | (1,056 | ) | Cash and cash equivalents at beginning of period | — |
| | — |
| | — |
| | 1,401 |
| | — |
| | 1,401 |
| Cash and cash equivalents at end of period | $ | — |
| | $ | — |
| | $ | — |
| | $ | 345 |
| | $ | — |
| | $ | 345 |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended March 27, 2015 ($ in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | Tyco International plc | | Tyco Fire & Security Finance SCA | | Tyco International Finance S.A. | | Other Subsidiaries | | Consolidating Adjustments | | Total | Cash Flows From Operating Activities: | | | | | | | | | | | | Net cash provided by (used in) operating activities | $ | 20 |
| | $ | — |
| | $ | (504 | ) | | $ | 746 |
| | $ | — |
| | $ | 262 |
| Net cash provided by discontinued operating activities | — |
| | — |
| | — |
| | 3 |
| | — |
| | 3 |
| Cash Flows From Investing Activities: | | | | | | | | | | | | Capital expenditures | — |
| | — |
| | — |
| | (123 | ) | | — |
| | (123 | ) | Acquisition of businesses, net of cash acquired | — |
| | — |
| | — |
| | (525 | ) | | — |
| | (525 | ) | Acquisition of dealer generated customer accounts and bulk purchases | — |
| | — |
| | — |
| | (8 | ) | | — |
| | (8 | ) | Divestiture of businesses, net of cash divested
| — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net increase in intercompany loans | — |
| | — |
| | (59 | ) | | — |
| | 59 |
| | — |
| Sales and maturities of investments including restricted investments | — |
| | — |
| | — |
| | 279 |
| | — |
| | 279 |
| Purchases of investments including restricted investments | — |
| | — |
| | — |
| | (288 | ) | | — |
| | (288 | ) | Increase in restricted cash | — |
| | — |
| | — |
| | (39 | ) | | — |
| | (39 | ) | Other | — |
| | — |
| | — |
| | 2 |
| | — |
| | 2 |
| Net cash used in investing activities | — |
| | — |
| | (59 | ) | | (703 | ) | | 59 |
| | (703 | ) | Net cash used in discontinued investing activities | — |
| | — |
| | — |
| | (15 | ) | | — |
| | (15 | ) | Cash Flows From Financing Activities: | | | | | | | | | | | | Repayment of short-term debt | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Proceeds from issuance of long-term debt | — |
| | — |
| | 567 |
| | — |
| | — |
| | 567 |
| Proceeds from exercise of share options | 50 |
| | — |
| | — |
| | 7 |
| | — |
| | 57 |
| Dividends paid | (151 | ) | | — |
| | — |
| | — |
| | — |
| | (151 | ) | Repurchase of ordinary shares | — |
| | — |
| | — |
| | (417 | ) | | — |
| | (417 | ) | Net intercompany loan borrowings | 83 |
| | — |
| | — |
| | (24 | ) | | (59 | ) | | — |
| Transfer to discontinued operations | — |
| | — |
| | — |
| | (12 | ) | | — |
| | (12 | ) | Payment of contingent consideration | — |
| | — |
| | — |
| | (23 | ) | | — |
| | (23 | ) | Debt financing costs | — |
| | — |
| | (4 | ) | | — |
| | — |
| | (4 | ) | Other | (2 | ) | | — |
| | — |
| | (17 | ) | | — |
| | (19 | ) | Net cash (used in) provided by financing activities | (20 | ) | | — |
| | 563 |
| | (487 | ) | | (59 | ) | | (3 | ) | Net cash provided by discontinued financing activities | — |
| | — |
| | — |
| | 12 |
| | — |
| | 12 |
| Effect of currency translation on cash | — |
| | — |
| | — |
| | (16 | ) | | — |
| | (16 | ) | Net decrease in cash and cash equivalents | — |
| | — |
| | — |
| | (460 | ) | | — |
| | (460 | ) | Cash and cash equivalents at beginning of period | — |
| | — |
| | — |
| | 892 |
| | — |
| | 892 |
| Cash and cash equivalents at end of period | $ | — |
| | $ | — |
| | $ | — |
| | $ | 432 |
| | $ | — |
| | $ | 432 |
|
|