Guarantor Financial Statements (Tables)

9 Months Ended

Jun. 24, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Quarter Ended June 24, 2016

($ in millions)



	Tyco International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net revenue	$	—		$	—	$	—		$	2,449		$	—		$	2,449
Cost of product sales	—			—		—			1,026			—			1,026
Cost of services	—			—		—			508			—			508
Selling, general and administrative expenses	1			—		1			665			—			667
Merger costs	2			—		1			4			—			7
Restructuring and asset impairment charges, net	—			—		—			5			—			5
Operating (loss) income	(3		)	—		(2		)	241			—			236
Interest income	—			—		—			3			—			3
Interest expense	—			—		(22		)	—			—			(22		)
Other income, net	—			—		54			—			—			54
Equity in net income of subsidiaries	225			220		169			—			(614		)	—
Intercompany interest and fees	17			—		21			(38		)	—			—
Income from continuing operations before income taxes	239			220		220			206			(614		)	271
Income tax expense	—			—		—			(31		)	—			(31		)
Income from continuing operations	239			220		220			175			(614		)	240
Loss from discontinued operations, net of income taxes	—			—		—			(2		)	—			(2		)
Net income	239			220		220			173			(614		)	238
Less: noncontrolling interest in subsidiaries net loss	—			—		—			(1		)	—			(1		)
Net income attributable to Tyco ordinary shareholders	$	239		$	220	$	220		$	174		$	(614	)	$	239

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Nine Months Ended June 26, 2015

($ in millions)




	Tyco International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net revenue	$	—		$	—	$	—		$	7,397		$	—		$	7,397
Cost of product sales	—			—		—			3,046			—			3,046
Cost of services	—			—		—			1,645			—			1,645
Selling, general and administrative expenses	6			—		1			1,918			—			1,925
Restructuring and asset impairment charges, net	—			—		—			108			—			108
Operating (loss) income	(6		)	—		(1		)	680			—			673
Interest income	—			—		—			11			—			11
Interest expense	—			—		(73		)	(2		)	—			(75		)
Other income, net	—			—		3			6			—			9
Equity in net income of subsidiaries	440			456		453			—			(1,349		)	—
Intercompany interest and fees	51			—		74			(125		)	—			—
Income from continuing operations before income taxes	485			456		456			570			(1,349		)	618
Income tax expense	—			—		—			(86		)	—			(86		)
Income from continuing operations	485			456		456			484			(1,349		)	532
Loss from discontinued operations, net of income taxes	—			—		—			(50		)	—			(50		)
Net income	485			456		456			434			(1,349		)	482
Less: noncontrolling interest in subsidiaries net loss	—			—		—			(3		)	—			(3		)
Net income attributable to Tyco ordinary shareholders	$	485		$	456	$	456		$	437		$	(1,349	)	$	485

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Quarter Ended June 26, 2015

($ in millions)



	Tyco International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net revenue	$	—		$	—	$	—		$	2,489		$	—		$	2,489
Cost of product sales	—			—		—			1,025			—			1,025
Cost of services	—			—		—			548			—			548
Selling, general and administrative expenses	1			—		—			624			—			625
Restructuring and asset impairment charges, net	—			—		—			38			—			38
Operating (loss) income	(1		)	—		—			254			—			253
Interest income	—			—		—			4			—			4
Interest expense	—			—		(25		)	(1		)	—			(26		)
Other income, net	—			—		1			5			—			6
Equity in net income of subsidiaries	145			165		166			—			(476		)	—
Intercompany interest and fees	12			—		23			(35		)	—			—
Income from continuing operations before income taxes	156			165		165			227			(476		)	237
Income tax expense	—			—		—			(49		)	—			(49		)
Income from continuing operations	156			165		165			178			(476		)	188
Loss from discontinued operations, net of income taxes	—			—		—			(32		)	—			(32		)
Net income	156			165		165			146			(476		)	156
Less: noncontrolling interest in subsidiaries net loss	—			—		—			—			—			—
Net income attributable to Tyco ordinary shareholders	$	156		$	165	$	165		$	146		$	(476	)	$	156



	Tyco International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net revenue	$	—		$	—	$	—		$	7,156		$	—		$	7,156
Cost of product sales	—			—		—			2,956			—			2,956
Cost of services	—			—		—			1,550			—			1,550
Selling, general and administrative expenses	5			—		2			1,835			—			1,842
Merger costs	2			—		11			20			—			33
Restructuring and asset impairment charges, net	—			—		—			21			—			21
Operating (loss) income	(7		)	—		(13		)	774			—			754
Interest income	—			—		—			11			—			11
Interest expense	—			—		(67		)	(1		)	—			(68		)
Other (expense) income, net	—			—		(112		)	1			—			(111		)
Equity in net income of subsidiaries	388			380		504			—			(1,272		)	—
Intercompany interest and fees	82			—		68			(150		)	—			—
Income from continuing operations before income taxes	463			380		380			635			(1,272		)	586
Income tax expense	(2		)	—		—			(128		)	—			(130		)
Income from continuing operations	461			380		380			507			(1,272		)	456
Income from discontinued operations, net of income taxes	—			—		—			3			—			3
Net income	461			380		380			510			(1,272		)	459
Less: noncontrolling interest in subsidiaries net loss	—			—		—			(2		)	—			(2		)
Net income attributable to Tyco ordinary shareholders	$	461		$	380	$	380		$	512		$	(1,272	)	$	461

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Quarter Ended June 24, 2016

($ in millions)



	Tyco International plc		Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net income	$	239	$	220	$	220		$	173		$	(614	)	$	238
Other comprehensive income (loss), net of tax
Foreign currency translation	6		—		(6		)	12			(6		)	6
Defined benefit and post retirement plans	5		—		—			5			(5		)	5
Unrealized gain on marketable securities and derivative instruments, net of tax	3		—		—			3			(3		)	3
Total other comprehensive income (loss), net of tax	14		—		(6		)	20			(14		)	14
Comprehensive income	253		220		214			193			(628		)	252
Less: comprehensive loss attributable to noncontrolling interests	—		—		—			(1		)	—			(1		)
Comprehensive income attributable to Tyco ordinary shareholders	$	253	$	220	$	214		$	194		$	(628	)	$	253

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Nine Months Ended June 26, 2015

($ in millions)




	Tyco International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.		Other Subsidiaries			Consolidating Adjustments			Total
Net income	$	485		$	456	$	456	$	434		$	(1,349	)	$	482
Other comprehensive (loss) income, net of tax
Foreign currency translation	(346		)	—		3		(349		)	346			(346		)
Defined benefit and post retirement plans	13			—		—		13			(13		)	13
Unrealized loss on marketable securities and derivative instruments	(4		)	—		—		(4		)	4			(4		)
Total other comprehensive (loss) income, net of tax	(337		)	—		3		(340		)	337			(337		)
Comprehensive income	148			456		459		94			(1,012		)	145
Less: comprehensive loss attributable to noncontrolling interests	—			—		—		(3		)	—			(3		)
Comprehensive income attributable to Tyco ordinary shareholders	$	148		$	456	$	459	$	97		$	(1,012	)	$	148

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Quarter Ended June 26, 2015

($ in millions)



	Tyco International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net income	$	156		$	165	$	165		$	146		$	(476	)	$	156
Other comprehensive income (loss), net of tax
Foreign currency translation	28			—		(12		)	40			(28		)	28
Defined benefit and post retirement plans	4			—		—			4			(4		)	4
Unrealized loss on marketable securities and derivative instruments, net of tax	(4		)	—		—			(4		)	4			(4		)
Total other comprehensive income (loss), net of tax	28			—		(12		)	40			(28		)	28
Comprehensive income	184			165		153			186			(504		)	184
Less: comprehensive income attributable to noncontrolling interests	—			—		—			—			—			—
Comprehensive income attributable to Tyco ordinary shareholders	$	184		$	165	$	153		$	186		$	(504	)	$	184

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Nine Months Ended June 24, 2016

($ in millions)




	Tyco International plc		Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total
Net income	$	461	$	380	$	380		$	510		$	(1,272	)	$	459
Other comprehensive income (loss), net of tax
Foreign currency translation	7		—		(5		)	12			(7		)	7
Defined benefit and post retirement plans	13		—		—			13			(13		)	13
Unrealized gain on marketable securities and derivative instruments, net of tax	6		—		—			6			(6		)	6
Total other comprehensive income (loss), net of tax	26		—		(5		)	31			(26		)	26
Comprehensive income	487		380		375			541			(1,298		)	485
Less: comprehensive loss attributable to noncontrolling interests	—		—		—			(2		)	—			(2		)
Comprehensive income attributable to Tyco ordinary shareholders	$	487	$	380	$	375		$	543		$	(1,298	)	$	487

CONDENSED CONSOLIDATING BALANCE SHEET

As of June 24, 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	—			—		—		1,805		—			1,805
Inventories	—			—		—		656		—			656
Intercompany receivables	10			—		553		7,750		(8,313		)	—
Prepaid expenses and other current assets	1			—		56		826		—			883
Deferred income taxes	—			—		—		62		—			62
Assets held for sale	—			—		—		71		—			71
Total Current Assets	11			—		609		11,515		(8,313		)	3,822
Property, plant and equipment, net	—			—		—		1,180		—			1,180
Goodwill	—			—		—		4,418		—			4,418
Intangible assets, net	—			—		—		966		—			966
Investment in subsidiaries	11,339			11,581		16,569		—		(39,489		)	—
Intercompany loans receivable	—			—		13,987		16,166		(30,153		)	—
Other assets	—			—		21		1,207		—			1,228
Total Assets	$	11,350		$	11,581	$	31,186	$	35,452	$	(77,955	)	$	11,614
Liabilities and Equity
Current Liabilities:
Loans payable and current maturities of long-term debt	$	—		$	—	$	341	$	—	$	—		$	341
Accounts payable	1			—		—		798		—			799
Accrued and other current liabilities	90			—		61		1,413		—			1,564
Deferred revenue	—			—		—		378		—			378
Intercompany payables	3,736			—		4,023		554		(8,313		)	—
Liabilities held for sale	—			—		—		34		—			34
Total Current Liabilities	3,827			—		4,425		3,177		(8,313		)	3,116
Long-term debt	—			—		2,164		1		—			2,165
Intercompany loans payable	3,172			—		12,994		13,987		(30,153		)	—
Deferred revenue	—			—		—		284		—			284
Other liabilities	—			—		22		1,641		—			1,663
Total Liabilities	6,999			—		19,605		19,090		(38,466		)	7,228
Tyco Shareholders' Equity:
Ordinary shares	4			—		—		—		—			4
Ordinary shares held in treasury	(15		)	—		—		—		—			(15		)
Other shareholders' equity	4,362			11,581		11,581		16,327		(39,489		)	4,362
Total Tyco Shareholders' Equity	4,351			11,581		11,581		16,327		(39,489		)	4,351
Nonredeemable noncontrolling interest	—			—		—		35		—			35
Total Equity	4,351			11,581		11,581		16,362		(39,489		)	4,386
Total Liabilities and Equity	$	11,350		$	11,581	$	31,186	$	35,452	$	(77,955	)	$	11,614

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	—			—		—		1,722		—			1,722
Inventories	—			—		—		620		—			620
Intercompany receivables	15			—		332		6,508		(6,855		)	—
Prepaid expenses and other current assets	—			—		63		687		—			750
Deferred income taxes	—			—		—		62		—			62
Assets held for sale	—			—		—		208		—			208
Total Current Assets	15			—		395		11,208		(6,855		)	4,763
Property, plant and equipment, net	—			—		—		1,166		—			1,166
Goodwill	—			—		—		4,203		—			4,203
Intangible assets, net	—			—		—		822		—			822
Investment in subsidiaries	10,885			11,140		15,993		—		(38,018		)	—
Intercompany loans receivable	—			—		2,942		5,066		(8,008		)	—
Other assets	1			—		44		1,322		—			1,367
Total Assets	$	10,901		$	11,140	$	19,374	$	23,787	$	(52,881	)	$	12,321
Liabilities and Equity
Current Liabilities:
Loans payable and current maturities of long-term debt	$	—		$	—	$	967	$	20	$	—		$	987
Accounts payable	1			—		—		763		—			764
Accrued and other current liabilities	88			—		61		1,495		—			1,644
Deferred revenue	—			—		—		379		—			379
Intercompany payables	3,616			—		2,892		347		(6,855		)	—
Liabilities held for sale	—			—		—		80		—			80
Total Current Liabilities	3,705			—		3,920		3,084		(6,855		)	3,854
Long-term debt	—			—		2,158		1		—			2,159
Intercompany loans payable	3,155			—		1,911		2,942		(8,008		)	—
Deferred revenue	—			—		—		302		—			302
Other liabilities	—			—		245		1,685		—			1,930
Total Liabilities	6,860			—		8,234		8,014		(14,863		)	8,245
Tyco Shareholders' Equity:
Ordinary shares	4			—		—		—		—			4
Ordinary shares held in treasury	(3		)	—		—		—		—			(3		)
Other shareholders' equity	4,040			11,140		11,140		15,738		(38,018		)	4,040
Total Tyco Shareholders' Equity	4,041			11,140		11,140		15,738		(38,018		)	4,041
Nonredeemable noncontrolling interest	—			—		—		35		—			35
Total Equity	4,041			11,140		11,140		15,773		(38,018		)	4,076
Total Liabilities and Equity	$	10,901		$	11,140	$	19,374	$	23,787	$	(52,881	)	$	12,321

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended June 24, 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	$	216		$	—	$	775		$	(487	)	$	—		$	504
Net cash used in discontinued operating activities	—			—		—			(12		)	—			(12		)
Cash Flows From Investing Activities:
Capital expenditures	—			—		—			(209		)	—			(209		)
Acquisition of businesses, net of cash acquired	—			—		—			(320		)	—			(320		)
Acquisition of dealer generated customer accounts and bulk account purchases	—			—		—			(17		)	—			(17		)
Divestiture of businesses, net of cash divested	—			—		—			14			—			14
Net decrease in intercompany loans	—			—		37			—			(37		)	—
Increase in investment in subsidiaries	—			—		(5		)	—			5			—
Sales and maturities of investments including restricted investments	—			—		7			19			—			26
Purchases of investments including restricted investments	—			—		—			(8		)	—			(8		)
Decrease in restricted cash	—			—		—			3			—			3
Net cash provided by (used in) investing activities	—			—		39			(518		)	(32		)	(511		)
Net cash provided by discontinued investing activities	—			—		—			4			—			4
Cash Flows From Financing Activities:
Proceeds from issuance of short-term debt	—			—		4,179			—			—			4,179
Repayment of short-term debt	—			—		(3,838		)	—			—			(3,838		)
Repayment of current portion of long-term debt	—			—		(1,134		)	—			—			(1,134		)
Proceeds from exercise of share options	57			—		—			—			—			57
Dividends paid	(261		)	—		—			—			—			(261		)
Net intercompany loan repayments	—			—		—			(37		)	37			—
Increase in equity from parent	—			—		—			5			(5		)	—
Transfer to discontinued operations	—			—		—			(8		)	—			(8		)
Payment of contingent consideration	—			—		—			(1		)	—			(1		)
Debt financing costs	—			—		(21		)	(2		)				(23		)
Other	(12		)	—		—			—			—			(12		)
Net cash used in financing activities	(216		)	—		(814		)	(43		)	32			(1,041		)
Net cash provided by discontinued financing activities	—			—		—			8			—			8
Effect of currency translation on cash	—			—		—			(8		)	—			(8		)
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 Nine Months Ended June 26, 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	$	94		$	—	$	(525	)	$	942		$	—		$	511
Net cash used in discontinued operating activities	—			—		—			(1		)	—			(1		)
Cash Flows From Investing Activities:
Capital expenditures	—			—		—			(183		)	—			(183		)
Acquisition of businesses, net of cash acquired	—			—		—			(525		)	—			(525		)
Acquisition of dealer generated customer accounts and bulk account purchases	—			—		—			(13		)	—			(13		)
Divestiture of businesses, net of cash divested	—			—		—			(1		)	—			(1		)
Net increase in intercompany loans	—			—		(41		)	—			41			—
Sales and maturities of investments including restricted investments	—			—		4			279			—			283
Purchases of investments including restricted investments	—			—		(1		)	(289		)	—			(290		)
Increase in restricted cash	—			—		—			(27		)	—			(27		)
Other	—			—		—			4			—			4
Net cash used in investing activities	—			—		(38		)	(755		)	41			(752		)
Net cash used in discontinued investing activities	—			—		—			(37		)	—			(37		)
Cash Flows From Financing Activities:
Proceeds from issuance of short-term debt	—			—		258			—			—			258
Repayment of short-term debt	—			—		(258		)	(1		)	—			(259		)
Proceeds from issuance of long-term debt	—			—		567			3			—			570
Proceeds from exercise of share options	63			—		—			7			—			70
Dividends paid	(237		)	—		—			—			—			(237		)
Repurchase of ordinary shares	—			—		—			(417		)	—			(417		)
Net intercompany loan borrowings	83			—		—			(42		)	(41		)	—
Transfer to discontinued operations	—			—		—			(38		)	—			(38		)
Payment of contingent consideration	—			—		—			(23		)	—			(23		)
Debt financing costs	—			—		(5		)	—			—			(5		)
Other	(3		)	—		1			(19		)	—			(21		)
Net cash (used in) provided by financing activities	(94		)	—		563			(530		)	(41		)	(102		)
Net cash provided by discontinued financing activities	—			—		—			38			—			38
Effect of currency translation on cash	—			—		—			(18		)	—			(18		)
Net decrease in cash and cash equivalents	—			—		—			(361		)	—			(361		)
Cash and cash equivalents at beginning of period	—			—		—			892			—			892
Cash and cash equivalents at end of period	$	—		$	—	$	—		$	531		$	—		$	531