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Business Segments

9 Months Ended

Jun. 28, 2019

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS:

The Company reported its operating results in three reportable segments: FSS United States, FSS International and Uniform. Corporate includes general expenses not specifically allocated to an individual segment and share-based compensation expense (see Note 10). In the Company's food and support services segments, approximately 77% of the global revenue is related to food services and 23% is related to facilities services. Financial information by segment follows (in millions):

	Revenue1
	Three Months Ended
	June 28, 2019				June 29, 2018
FSS United States	$	2,413.5			$	2,501.0
FSS International	949.9				929.9
Uniform	647.4				540.7
	$	4,010.8			$	3,971.6

	Operating Income1
	Three Months Ended
	June 28, 2019				June 29, 2018
FSS United States	$	127.8			$	135.7
FSS International	40.2				43.7
Uniform	53.6				56.7
	221.6				236.1
Corporate	(32.8		)		(49.4		)
Operating Income	188.8				186.7
Interest and Other Financing Costs, net	82.2				89.8
Income Before Income Taxes	$	106.6			$	96.9

	Revenue1
	Nine Months Ended
	June 28, 2019				June 29, 2018
FSS United States	$	7,490.8			$	7,657.0
FSS International	2,845.1				2,768.1
Uniform	1,940.2				1,450.9
	$	12,276.1			$	11,876.0

	Operating Income1
	Nine Months Ended
	June 28, 2019				June 29, 2018
FSS United States	$	560.4			$	453.6
FSS International	93.5				101.5
Uniform	144.5				131.2
	798.4				686.3
Corporate	(113.4		)		(147.8		)
Operating Income	685.0				538.5
Interest and Other Financing Costs, net	249.4				256.5
Income Before Income Taxes	$	435.6			$	282.0

(1) The adoption of ASC 606 impacted revenue and operating income for all segments in the three and nine month periods of fiscal 2019 (see Note 7). Revenue and operating income in the three and nine month periods of fiscal 2019 for the FSS United States segment were impacted by the sale of Healthcare Technologies in the first quarter of fiscal 2019 (see Note 2).

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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