Basis of Presentation and Summary of Significant Accounting Policies

Organization and Ownership Structure — Atkore International Holdings Inc. (hereinafter collectively with all its subsidiaries referred to as the “Company,” “we,” “our,” “us,” or “Atkore”) was incorporated in the State of Delaware on November 4, 2010. The Company is 100% owned by Atkore International Group Inc. (“Atkore Group”). The Company is the sole owner of Atkore International, Inc. (“Atkore International”). Prior to the transactions described below, all the capital stock of Atkore International was owned by Tyco International Ltd. (“Tyco”). The business of Atkore International was operated as the Tyco Electrical and Metal Products (“TEMP”) business of Tyco. Atkore was initially formed by Tyco as a holding company to hold ownership of TEMP.

The Transactions — On November 9, 2010, Tyco announced that it entered into an agreement to sell a majority interest in TEMP to an affiliate of the private equity firm Clayton Dubilier & Rice, LLC (“CD&R”). On December 22, 2010, the transaction closed and CD&R acquired shares of a newly created class of cumulative convertible preferred stock (the “Preferred Stock”) of Atkore Group. The Preferred Stock initially represented 51% of the outstanding capital stock (on an as-converted basis) of Atkore Group. On December 22, 2010, Atkore Group also issued common stock (the “Common Stock”) to a Tyco subsidiary that initially represented the remaining 49% of the outstanding capital stock of Atkore Group. Atkore Group continues to be the sole owner of the Company, which in turn continues to be the sole owner of Atkore International. Subsequent to December 22, 2010, Atkore has operated as an independent, stand-alone entity. The aforementioned transactions described in this paragraph are referred to herein as the “Transactions.”

Basis of Presentation — The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to ensure the information presented is not misleading. These condensed financial statements have been prepared in accordance with the Company’s accounting policies and on the same basis as those financial statements included in the Form 10-K for the fiscal year ended September 27, 2013, and should be read in conjunction with the consolidated financial statements and the notes thereto.

These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these condensed financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year.

The Company has a 52- or 53- week fiscal year that ends on the last Friday in September. It is our practice to establish quarterly closing using a 4-5-4 calendar. Fiscal year 2014 is a 52-week fiscal year ending on September 26, 2014. Fiscal year 2013 was a 52-week fiscal year and ended on September 27, 2013.

The Company has reclassified certain prior period amounts to conform to the current period presentation. The reclassifications included restatements for discontinued operations, as described in Note 16 and the reorganization of our reportable segments, as described below.

Description of Business — The Company is engaged in the design, manufacture and distribution of electrical conduit, cable products, steel tube and pipe products.

As a result of the acquisition of Heritage Plastics, Inc., Heritage Plastics Central, Inc. and Heritage Plastics West, Inc. (collectively “Heritage Plastics”) and Liberty Plastics, LLC (“Liberty Plastics”) on September 17, 2013, effective September 28, 2013, the Company set up a new operating segment, Plastic Pipe and Conduit ("PPC") to manage and incorporate Heritage Plastics and Liberty Plastics with the existing business of Georgia Pipe to create better business development, greater coordination, and enhanced customer focus. Ridgeline Pipe Manufacturing (“Ridgeline”), which was acquired on October 11, 2013, is also included in the PPC operating segment. In addition, as part of reorganization, the Company’s power-strut business was moved from the Pipe, Tube, and Conduit North America (“PTC NA”) operating segment to the Cable Management North America ("CM NA") operating segment. This restructuring aligns the internal management and functional support assets based on the Company’s product and service offerings and better reflects how our chief operating decision maker allocates resources and assesses performance.

As the result of the reorganization, the PTC NA operating segment and PPC operating segment are aggregated and continued to be reported within the Global Pipe, Tube and Conduit reportable segment. The Company continues to have the same two reportable segments: 1) Global Pipe, Tube & Conduit and 2) Global Cable & Cable Management. The product categories that pertain to each reportable segment are as follows:

Global Pipe, Tube & Conduit

•

Pipe & Tube - consists of steel pipe for low pressure sprinkler applications and for low pressure conveyance of fluids and certain structural and fabrication applications and commercial quality tubing in a variety of shapes and sizes for industrial applications, such as agricultural buildings, conveyor belt tubing and highway signage (including in-line galvanized steel tubing products for many original equipment manufacturers ("OEMs") and structural applications), high-strength fence framework that utilizes the in-line galvanization process to deliver consistent strength and quality, barbed tape products for high security perimeter fences, and polyvinyl chloride ("PVC") irrigation piping.


•	Conduit - consists of tubular steel used for the protection and routing of electrical wire, including such products as electrical metallic tubing, intermediate metal conduit, rigid steel conduit, PVC conduit and aluminum rigid conduit, elbows and fittings.

Global Cable & Cable Management


•	Cable - consists of armored cable and metal-clad cable, including fire alarm and super neutral; ColorSpec^™ ID System, self-grounding metal-clad cable, specialty cables and pre-fabricated wiring systems.


•	Cable Management - consists of systems that hold and protect electrical raceways, such as cable tray, cable ladder and wire basket, as well as metal framing or steel support structures using strut, channel and related fittings and accessories for both electrical and mechanical applications.

Corporate and Other contains those items that are not included in the Company’s two reportable segments (see Note 13).

Use of Estimates — The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclose contingent assets and liabilities at the date of the financial statements and report the associated amounts of revenues and expenses. Significant estimates and assumptions are used for, but not limited to, allowances for doubtful accounts, estimates of future cash flows associated with asset impairments, useful lives for depreciation and amortization, estimates of total costs for contracts under the percentage-of-completion method, loss contingencies, purchase price allocation, net realizable value of inventories, legal liabilities, income taxes and tax valuation allowances and pension and postretirement employee benefit liabilities. Actual results could differ materially from these estimates.

Restricted cash — Restricted cash was less than $1 million at both December 27, 2013 and September 27, 2013, respectively, and consisted of cash deposited with various financial institutions that was pledged as collateral for certain foreign locations of the Company to support guarantees provided by those financial institutions. Restricted cash was included in other current assets in the consolidated balance sheets.