Noncontrolling Interests

12 Months Ended

Sep. 27, 2014

8. Noncontrolling Interests

The changes in the liability and temporary equity attributable to redeemable NCIs for the three fiscal years in the period ended September 27, 2014 are as follows (in thousands):

	Liability attributable to mandatorily redeemable noncontrolling interests			Equity attributable to redeemable noncontrolling interests
Balance at September 24, 2011	$	—		$	21,034
Disposition of noncontrolling interest		—			(10,331	)
Redeemable noncontrolling interest reclassified to other long-term liabilities		4,708			(4,708	)
Net income		60			812
Adjustment to redemption value		167			3,155
Cash distributions		(204	)		(513	)
Other comprehensive loss, net of tax		197			455

Balance at September 29, 2012	$	4,928		$	9,904
Net income		462			409
Adjustment to redemption value		372			2,025
Cash distributions		(583	)		(823	)
Other comprehensive loss, net of tax		(245	)		(470	)

Balance at September 28, 2013	$	4,934		$	11,045
Net income		344			552
Adjustment to redemption value		47			2,368
Cash distributions		(348	)		(651	)
Other comprehensive loss, net of tax		(225	)		(874	)
Purchase of noncontrolling interest		(4,752	)		—

Balance at September 27, 2014	$	—		$	12,440

Mandatorily Redeemable Noncontrolling Interest

On June 22, 2012, the Company executed a Share Purchase and Sale Agreement under which the Company was required to purchase a noncontrolling interest holder's shares in an entity in which the Company held a controlling interest within 30 days of the end of the Company's third quarter of fiscal 2014. The mandatorily redeemable noncontrolling interest was classified as a liability in the accompanying Consolidated Balance Sheet as of September 28, 2013 under the caption, Other current liabilities.

On August 22, 2014, the Company purchased the noncontrolling interest holder's shares for approximately $5.6 million, resulting in the subsidiary being wholly-owned by the Company. Of the $5.6 million purchase price, $0.8 million is in escrow and is contingently returnable to the Company upon final determination of fair value of the noncontrolling interest holder's shares. The contingent consideration is recorded in the accompanying Consolidated Balance Sheet as of September 27, 2014 under the caption, Other current assets, and any changes in the fair value of the contingent consideration will be recognized in earnings until resolved.

- Definition

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.

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