XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Goodwill and Intangibles | 6 Months Ended
--- | ---
Mar. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | Goodwill and Intangibles As a result of the segment realignment this quarter (See Note 7, Segment Information), the historical carrying value of goodwill has been allocated to the three remaining reportable segments to present balances on a comparable basis. The carrying value of goodwill appearing in the accompanying Consolidated Balance Sheets at March 30, 2018 and September 29, 2017 was as follows (in millions):
| Aerospace, Technology, Environmental and Nuclear |  | Buildings, Infrastructure and Advanced Facilities |  | Energy, Chemicals and Resources |  | Total
Balance September 29, 2017 | $ | 1,038.2 |  |  | $ | 1,048.8 |  |  | $ | 922.8 |  |  | $ | 3,009.8 |
Acquired | 945.2 |  |  | 1,417.9 |  |  | 335.7 |  |  | 2,698.8 |
Post-Acquisition Adjustments | 106.7 |  |  | 40.2 |  |  | 32.1 |  |  | 179.0 |
Foreign Exchange Impact | 10.0 |  |  | 10.2 |  |  | 9.0 |  |  | 29.2 |
Balance March 30, 2018 | $ | 2,100.1 |  |  | $ | 2,517.1 |  |  | $ | 1,299.6 |  |  | $ | 5,916.8 |
During the preparation of our Quarterly Report on Form 10-Q for the first fiscal quarter of 2017, the Company determined that its prior financial statements contained immaterial misstatements related to incorrect translation of the Company’s non-U.S. goodwill balances from local currency to the U.S. Dollar reporting currency. It was determined that the Company had incorrectly used historical translation rates for the U.S. Dollar in place at the time of the Company’s recording of its foreign goodwill balances rather than using current translation rates at each balance sheet date in accordance with U.S. GAAP. The error dated back to the time of our initial reporting of non-US goodwill balances in the late 1990s and affected our historical quarterly and annual reporting periods through the first fiscal quarter of 2017. Goodwill and accumulated other comprehensive income in the Company’s September 30, 2016 consolidated balance sheet (which have not been adjusted) were each overstated by $209.9 million and was corrected in the first fiscal quarter of 2017 foreign currency translation adjustment. Consequently, the correction was a direct component of the overall translation adjustment amount of $287.5 million that was reported for the three months ended December 30, 2016. These adjustments had no impact on the Company’s Consolidated Statements of Earnings or Cash Flows. The following table provides certain information related to the Company’s acquired intangibles in the accompanying Consolidated Balance Sheets at March 30, 2018 and September 29, 2017 (in thousands):
|  | Customer Relationships, Contracts, and Backlog |  | Developed Technology |  | Trade Names |  | Patents |  | Lease Intangible Assets |  | Other |  | Total
Balances September 29, 2017 |  | $ | 301,468 |  |  | $ | 14,462 |  |  | $ | 6,699 |  |  | $ | 10,180 |  |  | $ | — |  |  | $ | 111 |  |  | $ | 332,920 |
Acquisitions |  | 557,000 |  |  | 237 |  |  | 40,000 |  |  | — |  |  | 5,951 |  |  | — |  |  | 603,188 |
Post-Acquisition Adjustments |  | (106,800 | ) |  | (1,921 | ) |  | (41,700 | ) |  | — |  |  | (1,536 | ) |  | — |  |  | (151,957 | )
Amortization |  | (33,310 | ) |  | (767 | ) |  | (1,530 | ) |  | (208 | ) |  | (208 | ) |  | (25 | ) |  | (36,048 | )
Foreign currency translation |  | (1,805 | ) |  | — |  |  | (7 | ) |  | (344 | ) |  | — |  |  | — |  |  | (2,156 | )
Balances March 30, 2018 |  | $ | 716,553 |  |  | $ | 12,011 |  |  | $ | 3,462 |  |  | $ | 9,628 |  |  | $ | 4,207 |  |  | $ | 86 |  |  | $ | 745,947 |
In addition, we acquired $9.6 million in lease intangible liabilities in connection with the CH2M acquisition, of which $9.3 million remain unamortized at March 30, 2018. The following table presents estimated amortization expense of intangible assets for the remainder of fiscal 2018 and for the succeeding years. The amounts below include preliminary amortization estimates for the CH2M opening balance sheet fair values that are still preliminary and are subject to change.
Fiscal Year |  | (in millions)
2018 (six months remaining) |  | $ | 44.6 |
2019 |  | 86.7 |
2020 |  | 84.6 |
2021 |  | 81.0 |
2022 |  | 79.8 |
Thereafter |  | 359.9 |
Total |  | $ | 736.6 |

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

X
- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration