Subsequent Events

3 Months Ended

Sep. 30, 2016

On November 1, 2016, we entered into a definitive agreement to sell our CapRock Communications commercial business (“CapRock”), which we have determined is no longer strategic to our overall Company, to SpeedCast International Limited (“SpeedCast”) for $425 million in cash, subject to customary working capital adjustments. We intend to use proceeds from the sale to pay down debt and return cash to shareholders. The purchase price is expected to be funded by SpeedCast through a combination of cash on hand and debt and equity financing. The transaction is subject to regulatory review and other customary closing conditions and is expected to close in the third quarter of fiscal 2017.

The carrying amount of the major classes of assets and liabilities included as part of CapRock as of September 30, 2016 are as follows:



Assets	(In millions)
Receivables	$	61
Inventories	12
Property, plant and equipment	68
Goodwill	135
Other intangible assets	23
Current and deferred taxes	38
Other assets	23
Liabilities
Accounts payable	$	15
Other liabilities	51