SUPPLEMENTAL GUARANTOR INFORMATION (Tables)

3 Months Ended

Dec. 28, 2019

Dec. 29, 2018

Condensed Financial Information Disclosure [Abstract]

Supplemental Condensed Consolidating Balance Sheet

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 28, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK		Subsidiary Guarantors			Non- Guarantor Subsidiaries		Eliminations			Total Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	3,087		$	1	$	(15	)	$	1,121	$	—		$	4,194
Trade accounts receivable - Net	—			—			—		161			864		—			1,025
Inventories - Net	—			55			—		899			356		(16		)	1,294
Prepaid expenses and other	—			29			—		52			58		—			139
Total current assets	—			3,171			1		1,097			2,399		(16		)	6,652
INVESTMENT IN SUBSIDIARIES AND INTERCOMPANY BALANCES	(4,303		)	15,750			974		17,542			5,957		(35,920		)	—
PROPERTY, PLANT AND  EQUIPMENT - NET	—			15			—		520			218		—			753
GOODWILL	—			83			—		5,895			1,868		—			7,846
OTHER INTANGIBLE ASSETS - NET	—			25			—		2,025			687		—			2,737
DEFERRED INCOME TAXES	—			—			—		—			13		—			13
OTHER	—			20			—		92			43		—			155
TOTAL ASSETS	$	(4,303	)	$	19,064		$	975	$	27,171		$	11,185	$	(35,936	)	$	18,156
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt	$	—		$	76		$	—	$	1		$	3	$	—		$	80
Short-term borrowings - trade receivable securitization facility	—			—			—		—			350		—			350
Accounts payable	—			17			—		148			100		—			265
Accrued liabilities	—			2,158			4		240			253		—			2,655
Total current liabilities	—			2,251			4		389			706		—			3,350
LONG-TERM DEBT	—			17,383			492		42			35		—			17,952
DEFERRED INCOME TAXES	—			—			—		350			98		—			448
OTHER NON-CURRENT LIABILITIES	—			273			—		265			167		—			705
Total liabilities	—			19,907			496		1,046			1,006		—			22,455
TD GROUP STOCKHOLDERS' (DEFICIT) EQUITY	(4,303		)	(843		)	479		26,125			10,175		(35,936		)	(4,303		)
NONCONTROLLING INTERESTS	—			—			—		—			4		—			4
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	$	(4,303	)	$	19,064		$	975	$	27,171		$	11,185	$	(35,936	)	$	18,156

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 28, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK		Subsidiary Guarantors			Non- Guarantor Subsidiaries		Eliminations			Total Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	3,087		$	1	$	(15	)	$	1,121	$	—		$	4,194
Trade accounts receivable - Net	—			—			—		161			864		—			1,025
Inventories - Net	—			55			—		899			356		(16		)	1,294
Prepaid expenses and other	—			29			—		52			58		—			139
Total current assets	—			3,171			1		1,097			2,399		(16		)	6,652
INVESTMENT IN SUBSIDIARIES AND INTERCOMPANY BALANCES	(4,303		)	15,750			974		17,542			5,957		(35,920		)	—
PROPERTY, PLANT AND  EQUIPMENT - NET	—			15			—		520			218		—			753
GOODWILL	—			83			—		5,895			1,868		—			7,846
OTHER INTANGIBLE ASSETS - NET	—			25			—		2,025			687		—			2,737
DEFERRED INCOME TAXES	—			—			—		—			13		—			13
OTHER	—			20			—		92			43		—			155
TOTAL ASSETS	$	(4,303	)	$	19,064		$	975	$	27,171		$	11,185	$	(35,936	)	$	18,156
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt	$	—		$	76		$	—	$	1		$	3	$	—		$	80
Short-term borrowings - trade receivable securitization facility	—			—			—		—			350		—			350
Accounts payable	—			17			—		148			100		—			265
Accrued liabilities	—			2,158			4		240			253		—			2,655
Total current liabilities	—			2,251			4		389			706		—			3,350
LONG-TERM DEBT	—			17,383			492		42			35		—			17,952
DEFERRED INCOME TAXES	—			—			—		350			98		—			448
OTHER NON-CURRENT LIABILITIES	—			273			—		265			167		—			705
Total liabilities	—			19,907			496		1,046			1,006		—			22,455
TD GROUP STOCKHOLDERS' (DEFICIT) EQUITY	(4,303		)	(843		)	479		26,125			10,175		(35,936		)	(4,303		)
NONCONTROLLING INTERESTS	—			—			—		—			4		—			4
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	$	(4,303	)	$	19,064		$	975	$	27,171		$	11,185	$	(35,936	)	$	18,156

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF SEPTEMBER 30, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK		Subsidiary Guarantors			Non- Guarantor Subsidiaries		Eliminations			Total Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	—		$	1,092		$	—	$	(12	)	$	387	$	—		$	1,467
Trade accounts receivable - Net	—			—			—		172			896		—			1,068
Inventories - Net	—			52			—		880			316		(15		)	1,233
Assets held-for-sale	—			—			—		206			756		—			962
Prepaid expenses and other	—			27			—		45			63		—			135
Total current assets	—			1,171			—		1,291			2,418		(15		)	4,865
INVESTMENT IN SUBSIDIARIES AND INTERCOMPANY BALANCES	(2,894		)	14,729			975		16,373			6,898		(36,081		)	—
PROPERTY, PLANT AND EQUIPMENT - NET	—			17			—		513			227		—			757
GOODWILL	—			83			—		5,544			2,193		—			7,820
OTHER INTANGIBLE ASSETS - NET	—			25			—		2,064			655		—			2,744
OTHER	—			6			—		35			28		—			69
TOTAL ASSETS	$	(2,894	)	$	16,031		$	975	$	25,820		$	12,419	$	(36,096	)	$	16,255
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt	$	—		$	76		$	—	$	1		$	3	$	—		$	80
Short-term borrowings - trade receivable securitization facility	—			—			—		—			350		—			350
Accounts payable	—			17			—		160			99		—			276
Accrued liabilities	—			215			12		237			211		—			675
Liabilities held-for-sale	—			—			—		22			135		—			157
Total current liabilities	—			308			12		420			798		—			1,538
LONG-TERM DEBT	—			15,893			492		49			35		—			16,469
DEFERRED INCOME TAXES	—			—			—		347			94		—			441
OTHER NON-CURRENT LIABILITIES	—			315			—		233			143		—			691
Total liabilities	—			16,516			504		1,049			1,070		—			19,139
TD GROUP STOCKHOLDERS' (DEFICIT) EQUITY	(2,894		)	(485		)	471		24,771			11,339		(36,096		)	(2,894		)
NONCONTROLLING INTERESTS	—			—			—		—			10		—			10
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	$	(2,894	)	$	16,031		$	975	$	25,820		$	12,419	$	(36,096	)	$	16,255

Supplemental Condensed Consolidating Income Statement

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

FOR THE THIRTEEN WEEK PERIOD ENDED DECEMBER 28, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Total Consolidated
NET SALES	$	—		$	45		$	—		$	1,130		$	347		$	(57	)	$	1,465
COST OF SALES	—			25			—			480			216			(57		)	664
GROSS PROFIT	—			20			—			650			131			—			801
SELLING AND ADMINISTRATIVE EXPENSES	—			54			—			97			50			—			201
AMORTIZATION OF INTANGIBLE ASSETS	—			—			—			30			10			—			40
(LOSS) INCOME FROM OPERATIONS	—			(34		)	—			523			71			—			560
INTEREST EXPENSE (INCOME) - NET	—			250			9			(5		)	(6		)	—			248
REFINANCING COSTS	—			22			—			—			—			—			22
OTHER (INCOME) EXPENSE	—			(3		)	(18		)	2			16			—			(3		)
EQUITY IN INCOME OF SUBSIDIARIES	(304		)	(493		)	—			—			—			797			—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	304			190			9			526			61			(797		)	293
INCOME TAX PROVISION	—			—			—			50			9			—			59
INCOME FROM CONTINUING OPERATIONS	304			190			9			476			52			(797		)	234
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX	—			114			—			—			(43		)	—			71
NET INCOME	304			304			9			476			9			(797		)	305
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—			—			—			—			(1		)	—			(1		)
NET INCOME ATTRIBUTABLE TO TD GROUP	$	304		$	304		$	9		$	476		$	8		$	(797	)	$	304
OTHER COMPREHENSIVE INCOME, NET OF TAX	127			43			—			5			132			(180		)	127
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO TD GROUP	$	431		$	347		$	9		$	481		$	140		$	(977	)	$	431

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

FOR THE THIRTEEN WEEK PERIOD ENDED DECEMBER 28, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Total Consolidated
NET SALES	$	—		$	45		$	—		$	1,130		$	347		$	(57	)	$	1,465
COST OF SALES	—			25			—			480			216			(57		)	664
GROSS PROFIT	—			20			—			650			131			—			801
SELLING AND ADMINISTRATIVE EXPENSES	—			54			—			97			50			—			201
AMORTIZATION OF INTANGIBLE ASSETS	—			—			—			30			10			—			40
(LOSS) INCOME FROM OPERATIONS	—			(34		)	—			523			71			—			560
INTEREST EXPENSE (INCOME) - NET	—			250			9			(5		)	(6		)	—			248
REFINANCING COSTS	—			22			—			—			—			—			22
OTHER (INCOME) EXPENSE	—			(3		)	(18		)	2			16			—			(3		)
EQUITY IN INCOME OF SUBSIDIARIES	(304		)	(493		)	—			—			—			797			—
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	304			190			9			526			61			(797		)	293
INCOME TAX PROVISION	—			—			—			50			9			—			59
INCOME FROM CONTINUING OPERATIONS	304			190			9			476			52			(797		)	234
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX	—			114			—			—			(43		)	—			71
NET INCOME	304			304			9			476			9			(797		)	305
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—			—			—			—			(1		)	—			(1		)
NET INCOME ATTRIBUTABLE TO TD GROUP	$	304		$	304		$	9		$	476		$	8		$	(797	)	$	304
OTHER COMPREHENSIVE INCOME, NET OF TAX	127			43			—			5			132			(180		)	127
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO TD GROUP	$	431		$	347		$	9		$	481		$	140		$	(977	)	$	431

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

FOR THE THIRTEEN WEEK PERIOD ENDED DECEMBER 29, 2018

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK			Subsidiary Guarantors		Non- Guarantor Subsidiaries			Eliminations			Total Consolidated
NET SALES	$	—		$	41		$	—		$	809	$	162		$	(19	)	$	993
COST OF SALES	—			23			—			338		87			(19		)	429
GROSS PROFIT	—			18			—			471		75			—			564
SELLING AND ADMINISTRATIVE EXPENSES	—			41			—			64		17			—			122
AMORTIZATION OF INTANGIBLE ASSETS	—			—			—			18		2			—			20
(LOSS) INCOME FROM OPERATIONS	—			(23		)	—			389		56			—			422
INTEREST EXPENSE (INCOME) - NET	—			177			5			—		(10		)	—			172
EQUITY IN INCOME OF SUBSIDIARIES	(196		)	(325		)	—			—		—			521			—
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	196			125			(5		)	389		66			(521		)	250
INCOME TAX PROVISION	—			(71		)	—			119		6			—			54
NET INCOME (LOSS) ATTRIBUTABLE TO TD GROUP	$	196		$	196		$	(5	)	$	270	$	60		$	(521	)	$	196
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX	(85		)	(74		)	—			12		(13		)	75			(85		)
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO TD GROUP	$	111		$	122		$	(5	)	$	282	$	47		$	(446	)	$	111

Supplemental Condensed Consolidating Cash Flow Statement

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE THIRTEEN WEEK PERIOD ENDED DECEMBER 28, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Total Consolidated
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	$	—		$	(80	)	$	(8	)	$	448		$	72		$	1		$	433
INVESTING ACTIVITIES:
Capital expenditures	—			(1		)	—			(22		)	(4		)	—			(27		)
Proceeds in connection with sale of discontinued operations, net	—			904			—			—			—			—			904
Net cash provided by (used in) investing activities	—			903			—			(22		)	(4		)	—			877
FINANCING ACTIVITIES:
Intercompany activities	44			(285		)	9			(429		)	662			(1		)	—
Proceeds from exercise of stock options	20			—			—			—			—			—			20
Dividend equivalent payments	(64		)	—			—			—			—			—			(64		)
Redemption of senior subordinated notes due 2022, net	—			(1,168		)	—			—			—			—			(1,168		)
Proceeds from 5.50% senior subordinated notes due 2027, net	—			2,625			—			—			—			—			2,625
Other, net	—			—			—			—			1			—			1
Net cash provided by (used in) financing activities	—			1,172			9			(429		)	663			(1		)	1,414
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			—			—			3			—			3
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			1,995			1			(3		)	734			—			2,727
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			1,092			—			(12		)	387			—			1,467
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	3,087		$	1		$	(15	)	$	1,121		$	—		$	4,194

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE THIRTEEN WEEK PERIOD ENDED DECEMBER 28, 2019

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations			Total Consolidated
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	$	—		$	(80	)	$	(8	)	$	448		$	72		$	1		$	433
INVESTING ACTIVITIES:
Capital expenditures	—			(1		)	—			(22		)	(4		)	—			(27		)
Proceeds in connection with sale of discontinued operations, net	—			904			—			—			—			—			904
Net cash provided by (used in) investing activities	—			903			—			(22		)	(4		)	—			877
FINANCING ACTIVITIES:
Intercompany activities	44			(285		)	9			(429		)	662			(1		)	—
Proceeds from exercise of stock options	20			—			—			—			—			—			20
Dividend equivalent payments	(64		)	—			—			—			—			—			(64		)
Redemption of senior subordinated notes due 2022, net	—			(1,168		)	—			—			—			—			(1,168		)
Proceeds from 5.50% senior subordinated notes due 2027, net	—			2,625			—			—			—			—			2,625
Other, net	—			—			—			—			1			—			1
Net cash provided by (used in) financing activities	—			1,172			9			(429		)	663			(1		)	1,414
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			—			—			3			—			3
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			1,995			1			(3		)	734			—			2,727
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			1,092			—			(12		)	387			—			1,467
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	3,087		$	1		$	(15	)	$	1,121		$	—		$	4,194

TRANSDIGM GROUP INCORPORATED

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE THIRTEEN WEEK PERIOD ENDED DECEMBER 29, 2018

(Amounts in millions)

	TransDigm Group			TransDigm Inc.			TransDigm UK		Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations		Total Consolidated
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	$	—		$	(19	)	$	—	$	285		$	64		$	—	$	330
INVESTING ACTIVITIES:
Capital expenditures	—			—			—		(20		)	(4		)	—		(24		)
Payments made in connection with acquisitions, net of cash acquired	—			—			—		(29		)	—			—		(29		)
Net cash used in investing activities	—			—			—		(49		)	(4		)	—		(53		)
FINANCING ACTIVITIES:
Intercompany activities	16			430			—		(235		)	(211		)	—		—
Proceeds from exercise of stock options	14			—			—		—			—			—		14
Dividend equivalent payments	(24		)	—			—		—			—			—		(24		)
Net cash provided by (used in) financing activities	6			430			—		(235		)	(211		)	—		(10		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			—		—			(3		)	—		(3		)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	6			411			—		1			(154		)	—		264
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			1,821			—		(2		)	254			—		2,073
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	6		$	2,232		$	—	$	(1	)	$	100		$	—	$	2,337