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Guarantor And Non-Guarantor Financial Information (Tables)
12 Months Ended
Sep. 26, 2015
Guarantor And Non-Guarantor Financial Information [Abstract]  
Condensed Supplemental Consolidated Financial Information

Condensed Supplemental Consolidated Statements of Operations

​ ​ ​
Fiscal 2015
​
​ ​ ​
Parent
​ ​
Issuer
​ ​
Guarantor 
Subsidiaries
​ ​
Non- 
Guarantor 
Subsidiaries
​ ​
Eliminations
​ ​
Total
​
Net sales
​ ​ ​ $ — ​ ​ ​ ​ $ 622 ​ ​ ​ ​ $ 3,807 ​ ​ ​ ​ $ 452 ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 4,881 ​ ​
Cost of goods sold
​ ​ ​ ​ — ​ ​ ​ ​ ​ 526 ​ ​ ​ ​ ​ 3,128 ​ ​ ​ ​ ​ 358 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 4,012 ​ ​
Selling, general and administrative
​ ​ ​ ​ — ​ ​ ​ ​ ​ 64 ​ ​ ​ ​ ​ 244 ​ ​ ​ ​ ​ 49 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 357 ​ ​
Amortization of intangibles
​ ​ ​ ​ — ​ ​ ​ ​ ​ 8 ​ ​ ​ ​ ​ 75 ​ ​ ​ ​ ​ 8 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 91 ​ ​
Restructuring and impairment charges
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 13 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 13 ​ ​
Operating income
​ ​ ​ ​ — ​ ​ ​ ​ ​ 24 ​ ​ ​ ​ ​ 347 ​ ​ ​ ​ ​ 37 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 408 ​ ​
Debt extinguishment
​ ​ ​ ​ — ​ ​ ​ ​ ​ 94 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 94 ​ ​
Other expense (income), net
​ ​ ​ ​ (3) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 3 ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1 ​ ​
Interest expense, net
​ ​ ​ ​ — ​ ​ ​ ​ ​ 25 ​ ​ ​ ​ ​ 148 ​ ​ ​ ​ ​ 18 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 191 ​ ​
Equity in net income of subsidiaries
​ ​ ​ ​ (119) ​ ​ ​ ​ ​ (210) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 329 ​ ​ ​ ​ ​ — ​ ​
Income (loss) before income taxes
​ ​ ​ ​ 122 ​ ​ ​ ​ ​ 115 ​ ​ ​ ​ ​ 196 ​ ​ ​ ​ ​ 18 ​ ​ ​ ​ ​ (329) ​ ​ ​ ​ ​ 122 ​ ​
Income tax expense (benefit)
​ ​ ​ ​ 36 ​ ​ ​ ​ ​ 25 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 4 ​ ​ ​ ​ ​ (29) ​ ​ ​ ​ ​ 36 ​ ​
Consolidated net income (loss)
​ ​ ​ ​ 86 ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ 196 ​ ​ ​ ​ ​ 14 ​ ​ ​ ​ ​ (300) ​ ​ ​ ​ ​ 86 ​ ​
Net income (loss) attributable to non-controlling interests
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​
Net income (loss) attributable to the Company
​ ​ ​ $ 86 ​ ​ ​ ​ $ 90 ​ ​ ​ ​ $ 196 ​ ​ ​ ​ $ 14 ​ ​ ​ ​ $ (300) ​ ​ ​ ​ $ 86 ​ ​
Currency translation
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (45) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (45) ​ ​
Interest rate hedges
​ ​ ​ ​ — ​ ​ ​ ​ ​ (33) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (33) ​ ​
Defined benefit pension and retiree benefit plans
​ ​ ​ ​ — ​ ​ ​ ​ ​ (16) ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (16) ​ ​
Provision for income taxes related to other comprehensive income items
​ ​ ​ ​ — ​ ​ ​ ​ ​ 18 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 18 ​ ​
Comprehensive income (loss)
​ ​ ​ $ 86 ​ ​ ​ ​ $ 59 ​ ​ ​ ​ $ 196 ​ ​ ​ ​ $ (31) ​ ​ ​ ​ $ (300) ​ ​ ​ ​ $ 10 ​ ​
​

 

 

    Fiscal 2014  
    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Net sales   $ -     $ 638     $ 3,904     $ 416     $ -     $ 4,958  
Cost of goods sold     -       557       3,284       349       -       4,190  
Selling, general and administrative     -       52       232       36       -       320  
Amortization of intangibles     -       10       84       8       -       102  
Restructuring and impairment charges     -       -       30       -       -       30  
Operating income     -       19       274       23       -       316  
Debt extinguishment     -       35       -       -       -       35  
Other income, net     (3 )     -       (4 )     -       -       (7 )
Interest expense, net     34       27       176       (97 )     81       221  
Equity in net income of subsidiaries     (98 )     (218 )     -       -       316       -  
Income (loss) before income taxes     67       175       102       120       (397 )     67  
Income tax expense (benefit)     4       44       -       5       (49 )     4  
Consolidated net income (loss)     63       131       102       115       (348 )     63  
Net income(loss) attributable to non-controlling interests     1       -       -       -       -       1  
Net income(loss) attributable to the Company   $ 62     $ 131     $ 102     $ 115     $ (348 )   $ 62  
Currency translation     -       -       -       (16 )     -       (16 )
Interest rate hedges     -       (3 )     -       -       -       (3 )
Defined benefit pension and retiree benefit plans     -       (11 )     -       -       -       (11 )
Provision for income taxes related to other comprehensive income items     -       5       -       -       -       5  
Comprehensive  income (loss)   $ 62     $ 122     $ 102     $ 99     $ (348 )   $ 37  

 

    Fiscal 2013  
    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Net sales   $ -     $ 571     $ 3,706     $ 370     $ -     $ 4,647  
Cost of sales     -       506       3,021       308       -       3,835  
Selling, general and administrative expenses     -       58       314       40       -       412  
Restructuring and impairment charges, net     -       1       13       -       -       14  
Operating income (loss)     -       6       358       22       -       386  
Other income     -       56       1       -       -       57  
Interest expense, net     47       24       201       (120 )     92       244  
Equity in net income of subsidiaries     (132 )     (297 )     -       -       429       -  
Net income (loss) before income taxes     85       223       156       142       (521 )     85  
Income tax expense (benefit)     28       80       -       2       (82 )     28  
Net income (loss)   $ 57     $ 143     $ 156     $ 140     $ (439 )   $ 57  
Currency translation     -       -       -       (5 )     -       (5 )
Interest rate hedges     -       20       -       -       -       20  
Defined benefit pension and retiree benefit plans     -       34       -       -       -       34  
Provision for income taxes related to other comprehensive income items     -       (20 )     -       -       -       (20 )
Comprehensive  income (loss)   $ 57     $ 177     $ 156     $ 135     $ (439 )   $ 86  

 

 

Condensed Supplemental Consolidated Balance Sheet 
As of fiscal year end 2015

 

    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Assets                                                
Current assets:                                                
Cash and cash equivalents   $ -     $ 163     $ -     $ 65     $ -     $ 228  
Accounts receivable, net     -       23       337       74       -       434  
Intercompany receivable     329       2,963       -       83       (3,375 )     -  
Inventories     -       49       425       48       -       522  
Deferred income taxes     162       -       -       -       -       162  
Prepaid expenses and other current     -       22       5       10       -       37  
Total current assets     491       3,220       767       280       (3,375 )     1,383  
Property, plant and equipment, net     -       79       1,111       104       -       1,294  
Intangible assets, net     -       97       2,151       101       -       2,349  
Investment in subsidiaries     75       1,456       -       -       (1,531 )     -  
Other assets     -       -       1       1       -       2  
Total assets   $ 566     $ 4,852     $ 4,030     $ 486     $ (4,906 )   $ 5,028  
Liabilities and equity                                                
Current liabilities:                                                
Accounts payable   $ -     $ 28     $ 245     $ 57     $ -     $ 330  
Accrued expenses and other current liabilities     57       140       121       20       -       338  
Intercompany payable     -       -       3,375       -       (3,375 )     -  
Current portion of long-term debt     -       37       -       -       -       37  
Total current liabilities     57       205       3,741       77       (3,375 )     705  
Long-term debt, less current portion     -       3,647       -       1       -       3,648  
Deferred income taxes     387       -       -       -       -       387  
Other long-term liabilities     175       122       39       5       -       341  
Total long-term liabilities     562       3,769       39       6       -       4,376  
Total liabilities     619       3,974       3,780       83       (3,375 )     5,081  
                                                 
Redeemable non-controlling interests     12       -       -       -       -       12  
Other equity (deficit)     (65 )     878       250       403       (1,531 )     (65 )
Total equity (deficit)     (65 )     878       250       403       (1,531 )     (65 )
Total liabilities and equity (deficit)   $ 566     $ 4,852     $ 4,030     $ 486     $ (4,906 )   $ 5,028  

  

Condensed Supplemental Consolidated Balance Sheet 
As of fiscal year end 2014

 

    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Assets                                                
Current assets:                                                
Cash and cash equivalents   $ -     $ 70     $ 15     $ 44     $ -     $ 129  
Accounts receivable, net of allowance     -       35       377       79       -       491  
Intercompany receivable     319       3,343       -       87       (3,749 )     -  
Inventories     -       51       496       57       -       604  
Deferred income taxes     166       -       -       -       -       166  
Prepaid expenses and other current     -       15       13       14       -       42  
Total current assets     485       3,514       901       281       (3,749 )     1,432  
Property, plant and equipment, net     -       84       1,162       118       -       1,364  
Intangible assets, net     -       104       2,226       125       -       2,455  
Investment in subsidiaries     69       1,237       -       -       (1,306 )     -  
Other assets     -       -       1       -       -       1  
Total assets   $ 554     $ 4,939     $ 4,290     $ 524     $ (5,055 )   $ 5,252  
Liabilities and equity                                                
Current liabilities:                                                
Accounts payable   $ -     $ 31     $ 303     $ 61     $ -     $ 395  
Accrued and other current liabilities     35       127       132       20       -       314  
Intercompany payable     -       -       3,749       -       (3,749 )     -  
Long-term debt-current portion     -       54       -       4       -       58  
Total current liabilities     35       212       4,184       85       (3,749 )     767  
Long-term debt, less current portion     -       3,842       -       2       -       3,844  
Deferred tax liabilities     386       -       -       -       -       386  
Other long-term liabilities     234       76       42       4       -       356  
Total long-term liabilities     620       3,918       42       6       -       4,586  
Total liabilities     655       4,130       4,226       91       (3,749 )     5,353  
                                                 
Redeemable non-controlling interests     13       -       -       -       -       13  
Other equity (deficit)     (114 )     809       64       433       (1,306 )     (114 )
Total equity (deficit)     (114 )     809       64       433       (1,306 )     (114 )
Total liabilities and equity (deficit)   $ 554     $ 4,939     $ 4,290     $ 524     $ (5,055 )   $ 5,252  

  

Condensed Supplemental Consolidated Statements of Cash Flows

 

    Fiscal 2015  
    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Cash Flow from Operating Activities   $ -     $ 60     $ 542     $ 34     $ 1     $ 637  
                                                 
Cash Flow from Investing Activities                                                
Additions to  property, plant, and equipment     -       (13 )     (164 )     (3 )     -       (180 )
Proceeds from sale of assets     -       -       18       -       -       18  
Investment in Parent     -       -       -       -       -       -  
(Contributions) distributions to/from subsidiaries     (18 )     18       -       -       -       -  
Intercompany advances (repayments)     -       368       -       -       (368 )     -  
Acquisition of business, net of cash acquired     -       -       (3 )     -       -       (3 )
Net cash from investing activities     (18 )     373       (149 )     (3 )     (368 )     (165 )
Cash Flow from Financing Activities                                                
Proceeds from long-term borrowings     -       693       -       -       -       693  
Payment of tax receivable agreement     (39 )     -       -       -       -       (39 )
Proceed from issuance of common stock     18       -       -       -       -       18  
Repayment of note receivable     -       -       -       -       -       -  
Repayment of long-term borrowings     -       (947 )     -       (4 )     -       (951 )
Changes in intercompany balances     39       -       (408 )     2       367       -  
Contribution from Parent     -       -       -       -       -       -  
Debt financing costs     -       (86 )     -       -       -       (86 )
Net cash from financing activities     18       (340 )     (408 )     (2 )     367       (365 )
Effect of currency translation on cash     -       -       -       (8 )     -       (8 )
Net change in cash and cash equivalents     -       93       (15 )     21       -       99  
Cash and cash equivalents at beginning of period     -       70       15       44       -       129  
Cash and cash equivalents at end of period   $ -     $ 163     $ -     $ 65     $ -     $ 228  

 

    Fiscal 2014  
    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Cash Flow from Operating Activities   $ -     $ 27     $ 473     $ 30     $ -     $ 530  
                                                 
Cash Flow from Investing Activities                                                
Additions to  property, plant, and equipment     -       (6 )     (200 )     (9 )     -       (215 )
Proceeds from sale of assets     -       -       19       -       -       19  
Investment in Parent     -       -       -       -       -       -  
(Contributions) distributions to/from subsidiaries     723       (2 )     -       721       (1,442 )     -  
Intercompany advances (repayments)     -       20       -       -       (20 )     -  
Investment in Issuer debt securities     -       -       -       -       -       -  
Acquisition of business, net of cash acquired     -       -       (136 )     (90 )     -       (226 )
Net cash from investing activities     723       12       (317 )     622       (1,462 )     (422 )
Cash Flow from Financing Activities                                                
Proceeds from long-term borrowings     -       1,627       -       -       -       1,627  
Proceeds from initial public offering     -       -       -       -       -       -  
Payment of tax receivable agreement     (32 )     -       -       -       -       (32 )
Proceed from issuance of common stock     17       -       -       -       -       17  
Repayment of note receivable     -       -       -       -       -       -  
Repayment of long-term borrowings     (740 )     (1,668 )     -       -       721       (1,687 )
Changes in intercompany balances     32       -       (141 )     89       20       -  
Contribution from Parent     -       -       -       (721 )     721       -  
Debt financing costs     -       (44 )     -       -       -       (44 )
Net cash from financing activities     (723 )     (85 )     (141 )     (632 )     1,462       (119 )
Effect of currency translation on cash     -       -       -       (2 )     -       (2 )
Net change in cash and cash equivalents     -       (46 )     15       18       -       (13 )
Cash and cash equivalents at beginning of period     -       116       -       26       -       142  
Cash and cash equivalents at end of period   $ -     $ 70     $ 15     $ 44     $ -     $ 129  

 

    Fiscal 2013  
    Parent     Issuer     Guarantor
Subsidiaries
    Non-
Guarantor
Subsidiaries
    Eliminations     Total  
Cash Flow from Operating Activities   $ -     $ 11     $ 417     $ 36     $ -     $ 464  
                                                 
Cash Flow from Investing Activities                                                
Additions to  property, plant, and equipment     -       (7 )     (218 )     (14 )     -       (239 )
Proceeds from disposal of assets     -       1       17       -       -       18  
Investment in Parent     -       -       -       (21 )     21       -  
(Contributions) distributions to/from subsidiaries     (462 )     441       -       -       21       -  
Intercompany advances (repayments)     -       210       -       -       (210 )     -  
Investment in Issuer debt securities     -       -       -       -       -       -  
Acquisition of business net of cash acquired     -       -       (24 )     -       -       (24 )
Net cash from investing activities     (462 )     645       (225 )     (35 )     (168 )     (245 )
                                                 
Cash Flow from Financing Activities                                                
Proceeds from long-term debt     -       1,391       -       -       -       1,391  
IPO proceeds     438       -       -       -       -       438  
Payment of TRA     (5 )     (5 )     -       -       5       (5 )
Proceed from issuance of common stock     27       -       -       -       -       27  
Repayment of note receivable     2       2       -       -       (2 )     2  
Repayment of long-term debt     -       (1,955 )     -       (2 )     (21 )     (1,978 )
Changes in intercompany balances     -       -       (192 )     (15 )     207       -  
                                                 
Contribution from Parent     -       -       -       21       (21 )     -  
Deferred financing costs     -       (39 )     -       -       -       (39 )
Net cash from financing activities     462       (606 )     (192 )     4       168       (164 )
Net change in cash and cash equivalents     -       50       -       5       -       55  
Cash and cash equivalents at beginning of period     -       66       -       21       -       87  
Cash and cash equivalents at end of period   $ -     $ 116     $ -     $ 26     $ -     $ 142