Subsidiary Guarantors for Credit Agreement, Term Loan and 2021 Notes (Tables) - Supplemental Guarantor Subsidiaries

12 Months Ended

Oct. 30, 2015

Condensed Financial Statements, Captions [Line Items]

Supplemental Subsidiary Guarantor Condensed Consolidated Statement of Income

Condensed Consolidated Statement of Operations Fiscal Year Ended October 30, 2015
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,801,405		$	2,330,469		$	(959,727	)	$	3,172,147
Cost of sales	—			1,339,541			1,732,574			(738,890		)	2,333,225
Product development, selling and administrative expenses	47,604			192,956			376,087			26			616,673
Impairment charges	—			160,988			1,177,253			—			1,338,241
Other (income) and expense	68			17,534			(24,205		)	—			(6,603		)
Operating (loss) income	(47,672		)	90,386			(931,240		)	(220,863		)	(1,109,389		)
Intercompany items	66,408			(107,484		)	48,415			(7,339		)	—
Loss on early debt retirement	(14,311		)	—			—			—			(14,311		)
Interest (expense) income, net	(63,138		)	6,769			2,940			—			(53,429		)
(Loss) income from operations before income taxes and equity in income of subsidiaries	(58,713		)	(10,329		)	(879,885		)	(228,202		)	(1,177,129		)
Provision (benefit) for income taxes	(3,807		)	17,886			(13,204		)	—			875
Equity in income of subsidiaries	(1,123,098		)	(39,946		)	—			1,163,044			—
(Loss) income from continuing operations	$	(1,178,004	)	$	(68,161	)	$	(866,681	)	$	934,842		$	(1,178,004	)
Comprehensive (loss) income	$	(1,318,796	)	$	(69,263	)	$	(1,019,963	)	$	1,089,226		$	(1,318,796	)

Condensed Consolidated Statement of Operations, As Adjusted Fiscal Year Ended October 31, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,127,333		$	2,568,580		$	(917,603	)	$	3,778,310
Cost of sales	700			1,542,011			1,876,783			(765,261		)	2,654,233
Product development, selling and administrative expenses	60,942			236,233			311,711			—			608,886
Other (income) and expense	(473		)	12,667			(24,529		)	—			(12,335		)
Operating income (loss)	(61,169		)	336,422			404,615			(152,342		)	527,526
Intercompany items	64,185			(77,048		)	(29,099		)	41,962			—
Interest (expense) income, net	(63,639		)	6,750			1,541			—			(55,348		)
Income (loss) from continuing operations before income taxes and equity in income of subsidiaries	(60,623		)	266,124			377,057			(110,380		)	472,178
Provision (benefit) for income taxes	(46,296		)	155,459			24,897			—			134,060
Equity in income of subsidiaries	352,445			165,942			—			(518,387		)	—
Income from continuing operations	$	338,118		$	276,607		$	352,160		$	(628,767	)	$	338,118
Comprehensive income	$	301,810		$	281,569		$	311,369		$	(592,938	)	$	301,810

Condensed Consolidated Statement of Operations, As Adjusted Fiscal Year Ended October 25, 2013
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,745,565		$	3,702,376		$	(1,435,244	)	$	5,012,697
Cost of sales	(750		)	1,925,605			2,659,977			(1,185,264		)	3,399,568
Product development, selling and administrative expenses	50,443			294,952			310,753			—			656,148
Impairment charges	—			100,400			54,800			—			155,200
Other (income) and expense	(15,000		)	34,101			(52,750		)	—			(33,649		)
Operating income (loss)	(34,693		)	390,507			729,596			(249,980		)	835,430
Intercompany items	114,784			(79,519		)	(151,571		)	116,306			—
Interest (expense) income, net	(64,665		)	3,225			3,936			—			(57,504		)
Income from continuing operations before income taxes and equity in income of subsidiaries	15,426			314,213			581,961			(133,674		)	777,926
Provision (benefit) for income taxes	(42,174		)	207,602			75,739			—			241,167
Equity in income of subsidiaries	479,159			397,610			—			(876,769		)	—
Income from continuing operations	$	536,759		$	504,221		$	506,222		$	(1,010,443	)	$	536,759
Comprehensive income	$	518,266		$	505,329		$	486,689		$	(992,018	)	$	518,266

Supplemental Subsidiary Guarantor Condensed Consolidated Balance Sheet

Condensed Consolidating Balance Sheet As of October 30, 2015
In thousands	Parent Company		Supplemental Subsidiary Guarantors		Supplemental Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	581	$	2,008	$	100,296	$	—		$	102,885
Accounts receivable, net	—		214,381		597,826		(134		)	812,073
Inventories	—		508,774		607,461		(108,310		)	1,007,925
Other current assets	58,441		15,610		71,508		—			145,559
Total current assets	59,022		740,773		1,377,091		(108,444		)	2,068,442
Property, plant and equipment, net	21,318		297,476		478,253		(5,015		)	792,032
Other assets:
Other intangible assets, net	—		207,891		47,819		—			255,710
Goodwill	—		346,348		8,273		—			354,621
Deferred income taxes	49,660		—		69,253		—			118,913
Other non-current assets	2,740,518		2,078,294		2,517,110		(7,213,194		)	122,728
Total other assets	2,790,178		2,632,533		2,642,455		(7,213,194		)	851,972
Total assets	$	2,870,518	$	3,670,782	$	4,497,799	$	(7,326,653	)	$	3,712,446
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings, including current portion of long-term obligations	$	18,750	$	—	$	7,571	$	—		$	26,321
Trade accounts payable	3,342		96,891		175,556		—			275,789
Employee compensation and benefits	5,843		36,527		47,965		—			90,335
Advance payments and progress billings	—		100,312		149,795		(20,637		)	229,470
Accrued warranties	—		19,027		33,119		—			52,146
Other accrued liabilities	76,650		60,228		100,660		(12,261		)	225,277
Current liabilities of discontinued operations	—		11,582		—		—			11,582
Total current liabilities	104,585		324,567		514,666		(32,898		)	910,920
Long-term obligations	1,060,598		—		45		—			1,060,643
Other liabilities:
Liabilities for postretirement benefits	18,662		878		—		—			19,540
Accrued pension costs	159,594		8,406		7,699		—			175,699
Other non-current liabilities	81,595		8,325		35,715		—			125,635
Total other liabilities	259,851		17,609		43,414		—			320,874
Shareholders’ equity	1,445,484		3,328,606		3,939,674		(7,293,755		)	1,420,009
Total liabilities and shareholders’ equity	$	2,870,518	$	3,670,782	$	4,497,799	$	(7,326,653	)	$	3,712,446

Condensed Consolidating Balance Sheet, As Adjusted As of October 31, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors		Supplemental Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	54,874		$	16,429	$	198,888	$	—		$	270,191
Accounts receivable, net	—			400,456		675,515		(16,262		)	1,059,709
Inventories	—			467,602		750,161		(115,808		)	1,101,955
Other current assets	87,945			9,520		82,671		15			180,151
Total current assets	142,819			894,007		1,707,235		(132,055		)	2,612,006
Property, plant and equipment, net	23,660			346,761		525,642		(3,623		)	892,440
Other assets:
Other intangible assets, net	—			228,950		90,319		—			319,269
Goodwill	—			453,374		1,063,319		—			1,516,693
Deferred income taxes	1,875			—		70,022		—			71,897
Other non-current assets	4,136,777			2,139,776		2,662,560		(8,759,069		)	180,044
Total other assets	4,138,652			2,822,100		3,886,220		(8,759,069		)	2,087,903
Total assets	$	4,305,131		$	4,062,868	$	6,119,097	$	(8,894,747	)	$	5,592,349
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings, including current portion of long-term obligations	$	—		$	11,634	$	105	$	—		$	11,739
Trade accounts payable	3,134			215,235		177,576		—			395,945
Employee compensation and benefits	11,706			58,307		66,898		—			136,911
Advance payments and progress billings	—			117,768		193,165		(24,994		)	285,939
Accrued warranties	—			17,002		50,270		—			67,272
Other accrued liabilities	94,097			54,523		124,244		(7,264		)	265,600
Current liabilities of discontinued operations	—			11,582		—		—			11,582
Total current liabilities	108,937			486,051		612,258		(32,258		)	1,174,988
Long-term obligations	1,269,459			—		82		—			1,269,541
Other liabilities:
Liabilities for postretirement benefits	18,743			866		—		—			19,609
Accrued pension costs	132,947			7,030		4,402		—			144,379
Other non-current liabilities	(12,100		)	7,772		151,800		—			147,472
Total other liabilities	139,590			15,668		156,202		—			311,460
Shareholders’ equity	2,787,145			3,561,149		5,350,555		(8,862,489		)	2,836,360
Total liabilities and shareholders’ equity	$	4,305,131		$	4,062,868	$	6,119,097	$	(8,894,747	)	$	5,592,349

Supplemental Subsidiary Guarantor Condensed Consolidated Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows Year Ended October 30, 2015
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided by operating activities	261,293			16,105			77,935			355,333
Investing Activities:
Acquisition of businesses, net of cash acquired	—			—			(114,353		)	(114,353		)
Property, plant and equipment acquired	(945		)	(19,108		)	(51,283		)	(71,336		)
Proceeds from sale of property, plant and equipment	942			216			3,142			4,300
Other investing activities, net	(1,148		)	—			1,065			(83		)
Net cash used by investing activities	(1,151		)	(18,892		)	(161,429		)	(181,472		)
Financing Activities:
Common stock issued	4,654			—			—			4,654
Excess tax benefit from exercise of stock options	261			—			—			261
Dividends paid	(77,950		)	—			—			(77,950		)
Redemption of 6% note due 2016	(250,000		)	—			—			(250,000		)
Net borrowings under Credit Agreement	58,600			—			—			58,600
Change in short and other long-term obligations, net	—			(11,634		)	1,113			(10,521		)
Treasury stock purchased	(50,000		)	—			—			(50,000		)
Net cash used (provided) by financing activities	(314,435		)	(11,634		)	1,113			(324,956		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(16,211		)	(16,211		)
Decrease in cash and cash equivalents	(54,293		)	(14,421		)	(98,592		)	(167,306		)
Cash and cash equivalents at beginning of period	54,874			16,429			198,888			270,191
Cash and cash equivalents at end of period	$	581		$	2,008		$	100,296		$	102,885

Condensed Consolidating Statement of Cash Flows, As Adjusted Year Ended October 31, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided by operating activities of continuing operations	$	306,292		$	3,418		$	53,731		$	363,441
Net cash used by operating activities of discontinued operations	—			(102		)	—			(102		)
Net cash provided by operating activities	306,292			3,316			53,731			363,339
Investing Activities:
Acquisition of businesses, net of cash acquired	—			—			(44,426		)	(44,426		)
Property, plant and equipment acquired	(4,706		)	(23,130		)	(63,241		)	(91,077		)
Proceeds from sale of property, plant and equipment	—			6,512			3,451			9,963
Other investing activities, net	16			(1,052		)	1,089			53
Net cash used by investing activities	(4,690		)	(17,670		)	(103,127		)	(125,487		)
Financing Activities:
Common stock issued	13,346			—			—			13,346
Excess tax benefit from exercise of stock options	1,632			—			—			1,632
Dividends paid	(74,945		)	—			—			(74,945		)
Repayments of Term Loan	(37,500		)	—			—			(37,500		)
Change in short and other long-term obligations, net	—			10,422			(8,090		)	2,332
Treasury stock purchased	(269,336		)	—			—			(269,336		)
Financing fees	(2,826		)	—			—			(2,826		)
Net cash (used) provided by financing activities	(369,629		)	10,422			(8,090		)	(367,297		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(6,073		)	(6,073		)
Decrease in cash and cash equivalents	(68,027		)	(3,932		)	(63,559		)	(135,518		)
Cash and cash equivalents at beginning of period	122,901			20,361			262,447			405,709
Cash and cash equivalents at end of period	$	54,874		$	16,429		$	198,888		$	270,191

Condensed Consolidating Statement of Cash Flows, As Adjusted Year Ended October 25, 2013
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided by operating activities of continuing operations	$	457,171		$	58,565		$	122,802		$	638,538
Net cash used by operating activities of discontinued operations	—			(1,688		)	—			(1,688		)
Net cash provided by operating activities	457,171			56,877			122,802			636,850
Investing Activities:
Property, plant and equipment acquired	(8,489		)	(43,830		)	(101,099		)	(153,418		)
Proceeds from sale of property, plant and equipment	—			1,111			2,444			3,555
Other investing activities, net	(112		)	—			—			(112		)
Net cash used by investing activities	(8,601		)	(42,719		)	(98,655		)	(149,975		)
Financing Activities:
Common stock issued	7,575			—			—			7,575
Excess tax benefit from exercise of stock options	1,728			—			—			1,728
Dividends paid	(74,325		)	—			—			(74,325		)
Repayments of term loans	(50,000		)	—			—			(50,000		)
Change in short and other long-term obligations, net	—			(425		)	(6,949		)	(7,374		)
Treasury stock purchased	(214,106		)	—			—			(214,106		)
Net cash used by financing activities	(329,128		)	(425		)	(6,949		)	(336,502		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(8,537		)	(8,537		)
Increase in cash and cash equivalents	119,442			13,733			8,661			141,836
Cash and cash equivalents at beginning of period	3,459			6,628			253,786			263,873
Cash and cash equivalents at end of period	$	122,901		$	20,361		$	262,447		$	405,709