XML 77 R21.htm IDEA: XBRL DOCUMENT v3.20.1

Business Segments

6 Months Ended

Mar. 27, 2020

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 11). In the Company's food and support services segments, approximately 78% of the global revenue is related to food services and 22% is related to facilities services. During the six months ended March 27, 2020 and March 29, 2019, the Company received proceeds of approximately $15.3 million and $16.2 million, respectively, relating to the recovery of the Company's investment (possessory interest) at one of the National Park Service sites within the FSS United States segment. The Company recorded a gain related to the recovery of its investment, which is included in "Cost of services provided" in the Condensed Consolidated Statements of (Loss) Income. Revenue and operating income during both the three and six month periods of fiscal 2020 were impacted by COVID-19. During the second quarter of fiscal 2020, the Company recognized an impairment charge related to one reporting unit in its FSS International segment (see Note 4). Financial information by segment follows (in millions):

			Revenue
			Three Months Ended
			March 27, 2020						March 29, 2019
FSS United States			$	2,231.1					$	2,417.0
FSS International			853.5						942.0
Uniform			647.0						641.0
			$	3,731.6					$	4,000.0

			Operating Income
			Three Months Ended
			March 27, 2020						March 29, 2019
FSS United States			$	65.8					$	68.8
FSS International			(191.2)						41.9
Uniform			46.8						38.2
			(78.6)						148.9
Corporate			(19.1)						(26.1)
Operating (Loss) Income			(97.7)						122.8
Interest and Other Financing Costs, net			99.8						84.2
(Loss) Income Before Income Taxes			$	(197.5)					$	38.6

			Revenue
			Six Months Ended
			March 27, 2020						March 29, 2019
FSS United States			$	4,870.1					$	5,077.3
FSS International			1,799.7						1,895.2
Uniform			1,315.4						1,292.8
			$	7,985.2					$	8,265.3

			Operating Income
			Six Months Ended
			March 27, 2020						March 29, 2019
FSS United States			$	251.7					$	432.6
FSS International			(147.5)						53.3
Uniform			100.1						90.9
			204.3						576.8
Corporate			(47.7)						(80.6)
Operating Income			156.6						496.2
Interest and Other Financing Costs, net			179.4						167.2
(Loss) Income Before Income Taxes			$	(22.8)					$	329.0

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration