Joint Ventures

12 Months Ended

Sep. 30, 2012

Joint Ventures

Joint Ventures

15.   Joint Ventures

Consolidated Joint Ventures

        The aggregate revenue of the consolidated joint ventures was $19.3 million and $74.3 million for fiscal 2012 and 2011, respectively. The revenue decline resulted from our acquisition of the largest consolidated joint venture in fiscal 2011, which was related to the BPR acquisition. Assets and liabilities of these consolidated joint ventures were immaterial at fiscal 2012 and 2011 year-ends. These assets are restricted for use only by those joint ventures and are not available for our general operations. Cash and cash equivalents at September 30, 2012 and October 2, 2011 were $1.6 million and $1.0 million, respectively.

Unconsolidated Joint Ventures

        We account for the majority of our unconsolidated joint ventures using the equity method of accounting. Under this method, we recognize our proportionate share of the net earnings of these joint ventures as a single line item under "Other costs of revenue" in our consolidated statements of income. For fiscal 2012, 2011 and 2010, we reported $2.9 million, $4.9 million and $1.2 million of equity in earnings of unconsolidated joint ventures, respectively. Our maximum exposure to loss as a result of our investments in unconsolidated VIEs is typically limited to the aggregate of the carrying value of the investment. Future funding commitments for the unconsolidated joint ventures are immaterial. The unconsolidated joint ventures are, individually and in aggregate, immaterial to our consolidated financial statements.

        The aggregate carrying values of the assets and liabilities of the unconsolidated joint ventures were $19.0 million and $15.7 million, respectively, at September 30, 2012, and $24.0 million and $21.0 million, respectively, at October 2, 2011.