Discontinued Operations (Tables)

12 Months Ended

Sep. 27, 2019

Discontinued Operations

Schedule of components of income (loss) from discontinued operations, net of income taxes and balance sheet information for assets and liabilities held for sale

	Fiscal
	2019		2018			2017
	(in millions)
Net sales	$	41	$	702		$	928
Cost of sales		50		602			653
Gross margin		(9)		100			275
Selling, general, and administrative expenses		11		48			50
Research, development, and engineering expenses		3		39			40
Restructuring and other charges (credits), net		3		30	(1)		(3)
Operating income (loss)		(26)		(17)			188
Non-operating income, net		—		—			22	(2)
Pre-tax income (loss) from discontinued operations		(26)		(17)			210
Pre-tax gain (loss) on sale of discontinued operations		(86)		(2)			3
Income tax (expense) benefit		10		—			(70)
Income (loss) from discontinued operations, net of income taxes	$	(102)	$	(19)		$	143

(1) Included a $19 million impairment charge recorded in connection with the sale of our SubCom business.

(2)Included a $19 million credit related to the SubCom business’ curtailment of a postretirement benefit plan.

The following table presents balance sheet information for assets and liabilities held for sale at fiscal year end 2018; there were no such balances at fiscal year end 2019:

	Fiscal Year End
	2018
	(in millions)
Accounts receivable, net	$	72
Inventories		130
Other current assets		32
Property, plant, and equipment, net(1)		221
Other assets		17
Total assets held for sale	$	472
Accounts payable	$	63
Accrued and other current liabilities		26
Deferred revenue		60
Other liabilities		39
Total liabilities held for sale	$	188

(1) Included a reduction of $19 million related to the impairment charge recorded in connection with the sale of our SubCom business.