Guarantor Financial Statements (Tables)

6 Months Ended

Mar. 25, 2016

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Statement of Operations

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 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

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 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 Balance Sheet

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

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