XML 89 R26.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Acquisitions and Dispositions (Tables) | 3 Months Ended
--- | ---
Dec. 27, 2014
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date. Certain estimated values for the acquisition, including goodwill, intangible assets, plant property and equipment, and deferred taxes, are not yet finalized and the preliminary purchase price allocations are subject to change as we complete our analysis of the fair value at the date of acquisition. The purchase price was allocated based on information available at acquisition date. During the quarter ended December 27, 2014, we recorded measurement period adjustments, which reduced goodwill by $5 million, after obtaining additional information regarding, among other things, asset valuations and liabilities assumed. The amount was not considered material and therefore prior periods have not been revised.
| in millions |
Cash and cash equivalents |  | $ | 72 |
Accounts receivable |  | 236 |
Inventories |  | 418 |
Other current assets |  | 343 |
Property, Plant and Equipment |  | 1,303 |
Goodwill |  | 4,799 |
Intangible Assets |  | 5,141 |
Other Assets |  | 66 |
Accounts payable |  | (347 | )
Other current liabilities |  | (328 | )
Long-Term Debt |  | (869 | )
Deferred Income Taxes |  | (2,072 | )
Other Liabilities |  | (518 | )
Net assets acquired |  | $ | 8,244 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The fair value of identifiable intangible assets is as follows (in millions):
Intangible Asset Category |  | Type |  | Life in Years |  | Fair Value
Brands & trademarks |  | Non-amortizable |  | Indefinite |  | $ | 4,062 |
Brands & trademarks |  | Amortizable |  | 20 years |  | 532 |
Customer relationships |  | Amortizable |  | Weighted average life of 16 years |  | 541 |
Non-compete agreements |  | Amortizable |  | 1 year |  | 6 |
Total identifiable intangible assets |  |  |  |  |  | $ | 5,141 |
Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The fair value of identifiable intangible assets is as follows (in millions):
Intangible Asset Category |  | Type |  | Life in Years |  | Fair Value
Brands & trademarks |  | Non-amortizable |  | Indefinite |  | $ | 4,062 |
Brands & trademarks |  | Amortizable |  | 20 years |  | 532 |
Customer relationships |  | Amortizable |  | Weighted average life of 16 years |  | 541 |
Non-compete agreements |  | Amortizable |  | 1 year |  | 6 |
Total identifiable intangible assets |  |  |  |  |  | $ | 5,141 |
Business Acquisition, Pro Forma Information [Table Text Block] | The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisition occurred on the assumed date, nor is it necessarily an indication of future operating results. The pro forma results for the three months ended December 28, 2013 include a nonrecurring tax benefit of $46 million recognized by Hillshire Brands primarily related to the release of valuation allowances on state deferred tax assets.
in millions |
|  | December 28, 2013
Pro forma sales |  | $ | 9,817 |
Pro forma net income from continuing operations attributable to Tyson |  | $ | 338 |
Pro forma net income per diluted share from continuing operations attributable to Tyson |  | $ | 0.81 |
Summary of Net Assets and Liabilities Held for Sale | The following table summarizes the net assets and liabilities held for sale (in millions):
| December 27, 2014 |  | September 27, 2014
Assets held for sale: |  |  |
Accounts receivable, net | $ | 23 |  |  | $ | 74 |
Inventories | 77 |  |  | 141 |
Other current assets | 17 |  |  | 72 |
Net property, plant and equipment | 76 |  |  | 132 |
Goodwill | 14 |  |  | 16 |
Other assets | 6 |  |  | 11 |
Total assets held for sale | $ | 213 |  |  | $ | 446 |
Liabilities held for sale: |  |  |
Current debt | $ | — |  |  | $ | 32 |
Accounts payable | 33 |  |  | 61 |
Other current liabilities | 12 |  |  | 27 |
Long-term debt | — |  |  | 9 |
Deferred income taxes | 8 |  |  | 12 |
Other Liabilities | 1 |  |  | — |
Total liabilities held for sale | $ | 54 |  |  | $ | 141 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of characteristics and cost, by total and major class, of indefinite-lived intangible assets acquired as part of a business combination. Indefinite-lived intangible assets are assets that have no physical form, but have expected future economic benefit. The future benefit is not expected to diminish over a stated period of time. Acquired indefinite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the entity) and in total. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration