XML 52 R23.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

ACQUISITIONS (Tables) | 9 Months Ended
--- | ---
Jun. 29, 2024
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The allocation of the estimated fair value of assets acquired and liabilities assumed in the acquisition of CPI's Electron Device Business as of the June 6, 2024 acquisition date is summarized in the table below (in millions):
Assets acquired (excluding cash): |  |  |  |  |  |  |
Trade accounts receivable |  | $ | 40 |  |  |  |  |  |
Inventories |  | 81 |  |  |  |  |  |
Prepaid expenses and other |  | 64 |  |  |  |  |  |
Property, plant and equipment |  | 137 |  |  |  |  |  |
Goodwill |  | 844 |  |  |  |  |  | (1)
Other intangible assets |  | 368 |  |  |  |  |  | (1)
Other non-current assets |  | 15 |  |  |  |  |  |
Total assets acquired (excluding cash) |  | 1,549 |  |  |  |  |  |
Liabilities assumed: |  |  |  |  |  |  |
Accounts payable |  | 18 |  |  |  |  |  |
Accrued and other current liabilities |  | 45 |  |  |  |  |  |
Deferred income taxes |  | 89 |  |  |  |  |  |
Other non-current liabilities |  | 12 |  |  |  |  |  |
Total liabilities assumed |  | 164 |  |  |  |  |  |
Net assets acquired |  | $ | 1,385 |  |  |  |  |  |
(1)Based on the preliminary allocation of the net assets acquired, the Company expects that the $844 million of goodwill and $368 million of other intangible assets recognized for the acquisition will not be deductible for tax purposes. The allocation of the estimated fair value of assets acquired and liabilities assumed in the SEI acquisition as of the May 21, 2024 acquisition date is summarized in the table below (in millions):
Assets acquired (excluding cash): |  |  |  |  |  |  |
Trade accounts receivable |  | $ | 2 |  |  |  |  |  |
Inventories |  | 11 |  |  |  |  |  |
Prepaid expenses and other |  | — |  |  |  |  |  |
Property, plant and equipment |  | 1 |  |  |  |  |  |
Goodwill |  | 109 |  |  |  |  |  | (1)
Other intangible assets |  | 68 |  |  |  |  |  | (1)
Other non-current assets |  | — |  |  |  |  |  |
Total assets acquired (excluding cash) |  | 191 |  |  |  |  |  |
Liabilities assumed: |  |  |  |  |  |  |
Accounts payable |  | 1 |  |  |  |  |  |
Accrued and other current liabilities |  | 1 |  |  |  |  |  |
Deferred income taxes |  | 19 |  |  |  |  |  |
Other non-current liabilities |  | — |  |  |  |  |  |
Total liabilities assumed |  | 21 |  |  |  |  |  |
Net assets acquired |  | $ | 170 |  |  |  |  |  |
(1)Based on the preliminary allocation of the net assets acquired, the Company expects that the $109 million of goodwill and $68 million of other intangible assets recognized for the acquisition will not be deductible for tax purposes. The final allocation of the fair value of assets acquired and liabilities assumed in the Calspan acquisition as of the May 8, 2023 acquisition date, as well as measurement period adjustments recorded within the permissible one year measurement period, are summarized in the table below (in millions):
|  | Preliminary |  | Measurement Period |  | Final |
|  | Allocation |  | Adjustments (2) |  | Allocation |
Assets acquired (excluding cash): |  |  |  |  |  |  |
Trade accounts receivable |  | $ | 39 |  |  | $ | — |  |  | $ | 39 |  |
Inventories |  | 2 |  |  | — |  |  | 2 |  |
Prepaid expenses and other |  | 40 |  |  | (3) |  |  | 37 |  |
Property, plant and equipment |  | 105 |  |  | 234 |  |  | 339 |  |
Goodwill |  | 367 |  |  | (87) |  |  | 280 |  | (1)
Other intangible assets |  | 243 |  |  | (142) |  |  | 101 |  | (1)
Other non-current assets |  | 7 |  |  | — |  |  | 7 |  |
Total assets acquired (excluding cash) |  | 803 |  |  | 2 |  |  | 805 |  |
Liabilities assumed: |  |  |  |  |  |  |
Accounts payable |  | 10 |  |  | (1) |  |  | 9 |  |
Accrued and other current liabilities |  | 50 |  |  | 4 |  |  | 54 |  |
Deferred income taxes |  | 8 |  |  | (3) |  |  | 5 |  |
Other non-current liabilities |  | 6 |  |  | 1 |  |  | 7 |  |
Total liabilities assumed |  | 74 |  |  | 1 |  |  | 75 |  |
Net assets acquired |  | $ | 729 |  |  | $ | 1 |  |  | $ | 730 |  |
(1)Of the approximately $280 million of goodwill recognized for the acquisition, approximately $222 million is deductible for tax purposes. Of the approximately $101 million of other intangible assets recognized for the acquisition, approximately $86 million is deductible for tax purposes. The goodwill and intangible assets are deductible over 15 years. (2)Measurement period adjustments primarily related to the adjustments in the fair values of the acquired property, plant and equipment and other intangible assets from the third-party valuation. A substantial portion of the measurement period adjustments to property, plant and equipment relates to the fair value of the transonic wind tunnel. The offset to the measurement period adjustments was to goodwill.

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration