XML 100 R41.htm IDEA: XBRL DOCUMENT

Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Mar. 28, 2014

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables provide a summary of the significant assets and liabilities that are measured at fair value on a recurring basis at the end of each period:



	March 28, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	35.1	$	22.9	$	12.2	$	—
Foreign exchange forward and option contracts	0.6		0.6		—		—
	$	35.7	$	23.5	$	12.2	$	—

Liabilities:
Deferred compensation liabilities	$	13.7	$	—	$	13.7	$	—
Contingent consideration	7.0		—		—		7.0
Foreign exchange forward and option contracts	0.6		0.6		—		—
	$	21.3	$	0.6	$	13.7	$	7.0



	September 27, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	35.3	$	22.6	$	12.7	$	—
Foreign exchange forward and option contracts	0.9		0.9		—		—
	$	36.2	$	23.5	$	12.7	$	—

Liabilities:
Deferred compensation liabilities	$	13.5	$	—	$	13.5	$	—
Contingent consideration	6.9		—		—		6.9
Foreign exchange forward and option contracts	1.4		1.4		—		—
	$	21.8	$	1.4	$	13.5	$	6.9

Schedule of Reconciliation of Changes in Fair Value of Contingent Consideration



Balance at September 27, 2013	$	6.9
Accretion expense	0.1
Balance at March 28, 2014	$	7.0

Schedule of Carrying Amount and Fair Value of Long-term Debt

The following table presents the carrying values and estimated fair values of the Company's long-term debt, excluding capital leases, as of the end of each period:



	March 28, 2014				September 27, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
Loan payable	$	—	$	—	$	0.1	$	0.1
Term loan	1,296.8		1,301.0		—		—
3.50% notes due April 2018	300.0		296.0		299.9		293.7
9.50% debentures due May 2022	10.4		14.2		10.4		14.3
8.00% debentures due March 2023	8.0		10.2		8.0		10.2
4.75% notes due April 2023	598.2		571.6		598.2		568.5

Schedule of Accounts Receivable Concentration Risk

The Company's accounts receivable, net of allowance for doubtful accounts, in Spain and Italy, which the Company has been closely monitoring, at the end of each period were as follows:



	March 28, 2014		September 27, 2013
Spain	$	9.8	$	9.2
Italy	10.7		12.6

Schedules of Concentration of Risk

The following table shows net sales attributable to distributors that accounted for 10% or more of the Company's total net sales:



	Three Months Ended				Six Months Ended
	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Cardinal Health, Inc.	15	%	20	%	18	%	20	%
McKesson Corporation	15	%	19	%	15	%	16	%
Amerisource Bergen Corporation	10	%	6	%	11	%	7	%

The following table shows accounts receivable attributable to distributors that accounted for 10% or more of the Company's gross accounts receivable at the end of each period:



	March 28, 2014		September 27, 2013
Cardinal Health, Inc.	20	%	18	%
McKesson Corporation	23	%	22	%
Amerisource Bergen Corporation	13	%	14	%

The following table shows net sales attributable to products that accounted for 10% or more of the Company's total net sales:



	Three Months Ended				Six Months Ended
	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Optiray™ (CMDS)	13	%	13	%	13	%	14	%
Acetaminophen products (API)	9	%	10	%	8	%	10	%
Methylphenidate ER (Specialty Generics)	8	%	11	%	9	%	7	%

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

- Definition

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References+ Details