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ARAMARK Holdings Corporation (Parent Company)
3 Months Ended
Dec. 28, 2012
Parent Company Activity Note Disclosure [Abstract]  
ARAMARK Holdings Corporation (Parent Company)
ARAMARK HOLDINGS CORPORATION (PARENT COMPANY):
ARAMARK Holdings Corporation has 600.0 million common shares authorized, approximately 217.1 million common shares issued and approximately 202.0 million common shares outstanding as of December 28, 2012.
On April 18, 2011, the Parent Company completed a private placement of $600 million, net of a 1% discount, in aggregate principal amount of 8.625% / 9.375% Senior Notes due 2016 (the "Parent Company Notes"). Interest on the Parent Company Notes accrues at the rate of 8.625% per annum with respect to interest payments made in cash and 9.375% per annum with respect to any payment in-kind interest. The Parent Company Notes are obligations of the Parent Company, are not guaranteed by the Company and its subsidiaries and are structurally subordinated to all existing and future indebtedness and other liabilities of the Company and its subsidiaries, including trade payables, the senior secured revolving credit facility, the senior secured term loan facility, the senior fixed rate notes due 2015 and the senior floating rate notes due 2015. The Parent Company is obligated to pay interest on the Parent Company Notes in cash to the extent the Company has sufficient capacity to distribute such amounts to the Parent Company under the covenants relating to the Company’s outstanding indebtedness, including the senior secured revolving credit facility, the senior secured term loan facility, the senior fixed rate notes due 2015 and the senior floating rate notes due 2015. If the Company does not have sufficient covenant capacity to distribute such amounts to the Parent Company, the Parent Company has the ability to pay the interest on the Parent Company Notes through the issuance of additional notes.
At December 28, 2012, the Parent Company had long-term borrowings of $595.8 million, net of discount, interest payable of $8.3 million and unamortized deferred financing costs on the Parent Company Notes of $10.3 million. At September 28, 2012, the Parent Company had long-term borrowings of $595.5 million, net of discount, interest payable of $21.2 million and unamortized deferred financing costs on the Parent Company Notes of $11.0 million. For the three months ended December 28, 2012 and December 30, 2011, the Parent Company recorded Interest and Other Financing Costs, net, of $13.9 million and $13.7 million, respectively. During the three months ended December 28, 2012, the Company advanced approximately $26.9 million to the Parent Company, which was used to pay the interest on the Parent Company Notes. During the three months ended December 28, 2012, the advance was reduced by approximately $6.0 million attributable to the tax benefit related to the interest on the Parent Company Notes. During the three months ended December 30, 2011, the Company advanced approximately $27.7 million to the Parent Company, which was used to pay the interest on the Parent Company Notes. During the three months ended December 30, 2011, the advance was reduced by approximately $14.9 million attributable to the tax benefit related to the interest on the Parent Company Notes.