Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Mar. 28, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | 'S-1 |
Amendment Flag | 'false |
Document Period End Date | 28-Mar-14 |
Trading Symbol | 'ARMK |
Entity Registrant Name | 'ARAMARK HOLDINGS CORP |
Entity Central Index Key | '0001584509 |
Entity Filer Category | 'Non-accelerated Filer |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | |||
Current Assets: | ' | ' | ' |
Cash and cash equivalents | $139,184 | $110,998 | $136,748 |
Receivables, less allowances | 1,523,027 | 1,405,843 | 1,315,997 |
Inventories, at lower of cost or market | 549,942 | 541,972 | 508,416 |
Prepayments and other current assets | 203,563 | 228,352 | 224,340 |
Total current assets | 2,415,716 | 2,287,165 | 2,185,501 |
Land, buildings and improvements | ' | 611,591 | 567,972 |
Service equipment and fixtures | ' | 1,642,395 | 1,524,702 |
Property and Equipment, gross | ' | 2,253,986 | 2,092,674 |
Less - Accumulated depreciation | ' | -1,276,663 | -1,116,365 |
Property and Equipment, net | 960,903 | 977,323 | 976,309 |
Goodwill | 4,615,402 | 4,619,987 | 4,729,474 |
Other Intangible Assets | 1,327,349 | 1,408,764 | 1,595,149 |
Other Assets | 967,261 | 973,867 | 1,000,921 |
Assets | 10,286,631 | 10,267,106 | 10,487,354 |
Current Liabilities: | ' | ' | ' |
Current maturities of long-term borrowings | 89,613 | 65,841 | 37,462 |
Accounts payable | 804,241 | 888,969 | 873,345 |
Accrued payroll and related expenses | ' | 555,894 | 468,622 |
Accrued expenses and other current liabilities | 1,159,694 | 1,434,443 | 1,252,900 |
Accrued expenses and other current liabilities | ' | 878,549 | 784,245 |
Total current liabilities | 2,053,548 | 2,389,253 | 2,163,674 |
Long-term Borrowings | 5,547,928 | 5,758,229 | 5,971,305 |
Deferred Income Taxes and Other Noncurrent Liabilities | 975,838 | 1,047,002 | 1,207,585 |
Common Stock Subject to Repurchase and Other | 10,177 | 168,915 | 177,926 |
Equity: | ' | ' | ' |
Common stock, value | 2,501 | 2,194 | 2,159 |
Capital surplus | 2,480,459 | 1,693,663 | 1,636,128 |
Accumulated deficit | -438,861 | -479,233 | -444,479 |
Accumulated other comprehensive loss | -58,840 | -59,225 | -73,745 |
Treasury stock, value | -286,119 | -253,692 | -187,046 |
Total ARAMARK Holdings stockholders' equity | ' | 903,707 | 933,017 |
Noncontrolling interest | ' | 0 | 33,847 |
Total equity | 1,699,140 | 903,707 | 966,864 |
Liabilities and Equity | $10,286,631 | $10,267,106 | $10,487,354 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, except Share data, unless otherwise specified | |||
Statement Of Financial Position [Abstract] | ' | ' | ' |
Allowance for doubtful accounts | ' | $34,676 | $41,212 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 600,000,000 | 600,000,000 | 600,000,000 |
Common Stock, Shares Issued | 250,120,845 | 219,585,247 | 216,050,523 |
Common stock, shares outstanding | 231,086,368 | 201,798,518 | 202,573,022 |
Treasury stock | 19,034,477 | 17,786,729 | 13,477,501 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Sales | $3,502,007 | $3,403,737 | $7,265,088 | $6,939,652 | $13,945,657 | $13,505,426 | $13,082,377 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 3,159,808 | 3,132,226 | 6,514,627 | 6,303,766 | 12,661,145 | 12,191,419 | 11,836,780 |
Depreciation and amortization | 125,317 | 135,304 | 262,141 | 268,704 | 542,136 | 529,213 | 510,516 |
Selling and general corporate expenses | 96,075 | 55,992 | 210,291 | 111,648 | 227,902 | 203,019 | 187,992 |
Total Costs and Expenses | 3,381,200 | 3,323,522 | 6,987,059 | 6,684,118 | 13,431,183 | 12,923,651 | 12,535,288 |
Operating income | 120,807 | 80,215 | 278,029 | 255,534 | 514,474 | 581,775 | 547,089 |
Interest and Other Financing Costs, net | 102,074 | 147,124 | 185,427 | 260,475 | 423,845 | 456,807 | 451,120 |
Income (Loss) Before Income Taxes | 18,733 | -66,909 | 92,602 | -4,941 | 90,629 | 124,968 | 95,969 |
Provision (Benefit) for Income Taxes | 5,616 | -27,005 | 34,569 | -8,229 | 19,233 | 18,066 | -734 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | 71,396 | 106,902 | 96,703 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | -1,030 | 297 | -11,732 |
Net income (loss) | 13,117 | -39,904 | 58,033 | 3,288 | 70,366 | 107,199 | 84,971 |
Less: Net income attributable to noncontrolling interest | 201 | 200 | 355 | 578 | 1,010 | 3,648 | 1,125 |
Net income (loss) attributable to ARAMARK Holdings stockholders | $12,916 | ($40,104) | $57,678 | $2,710 | $69,356 | $103,551 | $83,846 |
Income from Continuing Operations | ' | ' | ' | ' | $0.35 | $0.51 | $0.47 |
Income (loss) from Discontinued Operations | ' | ' | ' | ' | ($0.01) | ' | ($0.06) |
Earnings Per Share, Basic | $0.06 | ($0.20) | $0.26 | $0.01 | $0.34 | $0.51 | $0.41 |
Income from Continuing Operations | ' | ' | ' | ' | $0.34 | $0.49 | $0.46 |
Income (loss) from Discontinued Operations | ' | ' | ' | ' | ($0.01) | ' | ($0.06) |
Earnings Per Share, Diluted | $0.05 | ($0.20) | $0.25 | $0.01 | $0.33 | $0.49 | $0.40 |
Weighted Average Number of Shares Outstanding, Basic | 230,693 | 201,468 | 218,653 | 201,728 | 201,916 | 203,211 | 203,525 |
Weighted Average Number of Shares Outstanding, Diluted | 243,376 | 201,468 | 229,410 | 208,841 | 209,370 | 209,707 | 209,999 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (Loss) Statement (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | $13,117 | ($39,904) | $58,033 | $3,288 | $70,366 | $107,199 | $84,971 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' |
Pension plan adjustments | -153 | -543 | -308 | -1,130 | 19,745 | -16,208 | -4,058 |
Foreign currency translation adjustments | -2,336 | -22,726 | -966 | -23,956 | -17,142 | -4,368 | 366 |
Fair value of cash flow hedges | -2,677 | 2,466 | 1,659 | 8,943 | 9,112 | 34,976 | 54,873 |
Share of equity investee's comprehensive income (loss) | ' | ' | ' | ' | 2,805 | -10,800 | ' |
Other comprehensive income (loss), net of tax | -5,166 | -20,803 | 385 | -16,143 | 14,520 | 3,600 | 51,181 |
Comprehensive income (loss) | 7,951 | -60,707 | 58,418 | -12,855 | 84,886 | 110,799 | 136,152 |
Less: Net income attributable to noncontrolling interests | 201 | 200 | 355 | 578 | 1,010 | 3,648 | 1,125 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $7,750 | ($60,907) | $58,063 | ($13,433) | $83,876 | $107,151 | $135,027 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | $58,033 | $3,288 | $70,366 | $107,199 | $84,971 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 542,136 | 529,213 | 516,290 |
Depreciation and amortization | 262,141 | 268,704 | 542,136 | 529,213 | 510,516 |
Income taxes deferred | -33,883 | -28,957 | -17,791 | -66,613 | -39,890 |
Share-based compensation expense | 72,998 | 8,821 | 19,417 | 15,678 | 17,317 |
Loss on sale of Galls | ' | ' | 0 | 0 | 11,998 |
Changes in noncash working capital | -507,238 | -269,864 | ' | ' | ' |
Changes in noncash working capital: | ' | ' | ' | ' | ' |
Receivables | ' | ' | -108,583 | -45,190 | -111,862 |
Inventories | ' | ' | -34,950 | -50,324 | -26,000 |
Prepayments | ' | ' | -49,224 | 38,267 | -3,096 |
Accounts payable | ' | ' | 74,462 | 83,981 | 27,012 |
Accrued expenses | ' | ' | 161,441 | 16,495 | 34,450 |
Net change in proceeds from sale of receivables | ' | ' | 0 | 0 | -220,855 |
Changes in other noncurrent liabilities | ' | ' | -26,506 | 4,569 | 9,391 |
Changes in other assets | ' | ' | 30,581 | 43,038 | 12,311 |
Other operating activities | 20,529 | 69,071 | 34,558 | 15,448 | -8,429 |
Net cash (used in) provided by operating activities | -127,420 | 51,063 | 695,907 | 691,761 | 303,608 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | -172,223 | -167,207 | -392,932 | -354,542 | -293,776 |
Disposals of property and equipment | 12,636 | 6,469 | 11,298 | 11,666 | 21,499 |
Proceeds from divestitures | 24,000 | 919 | 919 | 6,479 | 83,078 |
Acquisition of certain businesses | ' | ' | ' | ' | ' |
Working capital other than cash acquired | ' | ' | -547 | -8,415 | 5,128 |
Property and equipment | ' | ' | -183 | -18,905 | -6,386 |
Additions to goodwill, other intangible assets and other assets, net | ' | ' | -21,836 | -124,427 | -155,697 |
Acquisition of certain businesses, net of cash acquired | -10,820 | -22,477 | -22,600 | -151,800 | -157,000 |
Other investing activities | 5,129 | 22,974 | 17,893 | 6,568 | -16,993 |
Net cash used in investing activities | -141,278 | -159,322 | -385,388 | -481,576 | -363,147 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 1,734,343 | 3,230,710 | 3,080,464 | 3,449 | 616,252 |
Payments of long-term borrowings | -1,917,068 | -3,043,631 | -3,314,853 | -288,940 | -31,236 |
Net change in funding under the Receivables Facility | 0 | 36,200 | 36,200 | 37,895 | 225,905 |
Payment of dividends | -17,306 | 0 | 0 | 0 | -711,172 |
Net proceeds from sale of subsidiary shares to noncontrolling interest | ' | ' | 0 | 0 | 48,369 |
Proceeds from initial public offering, net | 524,081 | 0 | ' | ' | ' |
Proceeds from issuance of common stock | 3,419 | 4,372 | 5,597 | 11,258 | 4,593 |
Repurchase of common stock | -1,549 | -33,155 | -42,399 | -37,704 | -16,149 |
Distribution in connection with spin-off of Seamless | 0 | -47,352 | -47,352 | 0 | 0 |
Other financing activities | -29,036 | -55,918 | -53,926 | -12,785 | -24,562 |
Net cash (used in) provided by financing activities | 296,884 | 91,226 | -336,269 | -286,827 | 112,000 |
Increase (decrease) in cash and cash equivalents | 28,186 | -17,033 | -25,750 | -76,642 | 52,461 |
Cash and cash equivalents, beginning of period | 110,998 | 136,748 | 136,748 | 213,390 | 160,929 |
Cash and cash equivalents, end of period | $139,184 | $119,715 | $110,998 | $136,748 | $213,390 |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Total ARAMARK Holdings Stockholders' Equity | Common Stock | Capital Surplus | Accumulated Deficit | Accumulated Other Comprehensive Loss | Treasury Stock [Member] | Noncontrolling Interest |
In Thousands | ||||||||
Balance at Oct. 01, 2010 | $1,396,957 | $1,396,957 | $2,094 | $1,523,110 | $79,296 | ($128,526) | ($79,017) | ' |
Net income | 84,971 | 83,846 | ' | ' | 83,846 | ' | ' | 1,125 |
Other comprehensive income (loss) | 51,181 | 51,181 | ' | ' | ' | 51,181 | ' | ' |
Capital contributions from issuance of common stock | 25,252 | 25,252 | 29 | 25,223 | ' | ' | ' | ' |
Compensation expense related to stock incentive plans | 17,317 | 17,317 | ' | 17,317 | ' | ' | ' | ' |
Tax benefits related to stock incentive plans | 651 | 651 | ' | 651 | ' | ' | ' | ' |
Increase (decrease) in common stock subject to repurchase obligation, net | 26,675 | 26,675 | ' | 26,675 | ' | ' | ' | ' |
Purchases of common stock | -40,756 | -40,756 | ' | ' | ' | ' | -40,756 | ' |
Payment of dividends | -711,172 | -711,172 | ' | ' | -711,172 | ' | ' | ' |
Sale of subsidiary shares to noncontrolling interest | 31,677 | 735 | ' | 735 | ' | ' | ' | 30,942 |
Distributions to noncontrolling interest | -288 | ' | ' | ' | ' | ' | ' | -288 |
Balance at Sep. 30, 2011 | 882,465 | 850,686 | 2,123 | 1,593,711 | -548,030 | -77,345 | -119,773 | 31,779 |
Net income | 106,076 | 103,551 | ' | ' | 103,551 | ' | ' | 2,525 |
Other comprehensive income (loss) | 3,600 | 3,600 | ' | ' | ' | 3,600 | ' | ' |
Capital contributions from issuance of common stock | 31,636 | 31,636 | 36 | 31,600 | ' | ' | ' | ' |
Compensation expense related to stock incentive plans | 15,678 | 15,678 | ' | 15,678 | ' | ' | ' | ' |
Tax benefits related to stock incentive plans | 4,539 | 4,539 | ' | 4,539 | ' | ' | ' | ' |
Increase (decrease) in common stock subject to repurchase obligation, net | -9,400 | -9,400 | ' | -9,400 | ' | ' | ' | ' |
Purchases of common stock | -67,273 | -67,273 | ' | ' | ' | ' | -67,273 | ' |
Distributions to noncontrolling interest | -457 | ' | ' | ' | ' | ' | ' | -457 |
Balance at Sep. 28, 2012 | 966,864 | 933,017 | 2,159 | 1,636,128 | -444,479 | -73,745 | -187,046 | 33,847 |
Net income | 2,926 | 2,710 | ' | ' | 2,710 | ' | ' | 216 |
Other comprehensive income (loss) | -16,143 | -16,143 | ' | ' | ' | -16,143 | ' | ' |
Capital contributions from issuance of common stock | 14,164 | 14,164 | 19 | 14,145 | ' | ' | ' | ' |
Compensation expense related to stock incentive plans | 8,821 | 8,821 | ' | 8,821 | ' | ' | ' | ' |
Tax benefits related to stock incentive plans | 881 | 881 | ' | 881 | ' | ' | ' | ' |
Increase (decrease) in common stock subject to repurchase obligation, net | 16,874 | 16,874 | ' | 16,874 | ' | ' | ' | ' |
Purchases of common stock | -46,407 | -46,407 | ' | ' | ' | ' | -46,407 | ' |
Distribution of Seamless Holdings | -138,173 | -104,110 | ' | ' | -104,110 | ' | ' | -34,063 |
Balance at Mar. 29, 2013 | 809,807 | 809,807 | 2,178 | 1,676,849 | -545,879 | -89,888 | -233,453 | 0 |
Balance at Sep. 28, 2012 | 966,864 | 933,017 | 2,159 | 1,636,128 | -444,479 | -73,745 | -187,046 | 33,847 |
Net income | 69,572 | 69,356 | ' | ' | 69,356 | ' | ' | 216 |
Other comprehensive income (loss) | 14,520 | 14,520 | ' | ' | ' | 14,520 | ' | ' |
Capital contributions from issuance of common stock | 24,559 | 24,559 | 35 | 24,524 | ' | ' | ' | ' |
Compensation expense related to stock incentive plans | 19,417 | 19,417 | ' | 19,417 | ' | ' | ' | ' |
Tax benefits related to stock incentive plans | 4,841 | 4,841 | ' | 4,841 | ' | ' | ' | ' |
Increase (decrease) in common stock subject to repurchase obligation, net | 8,753 | 8,753 | ' | 8,753 | ' | ' | ' | ' |
Purchases of common stock | -66,646 | -66,646 | ' | ' | ' | ' | -66,646 | ' |
Distribution of Seamless Holdings | -138,173 | -104,110 | ' | ' | -104,110 | ' | ' | -34,063 |
Balance at Sep. 27, 2013 | 903,707 | 903,707 | 2,194 | 1,693,663 | -479,233 | -59,225 | -253,692 | ' |
Net income | 57,678 | ' | ' | ' | 57,678 | ' | ' | ' |
Other comprehensive income (loss) | 385 | ' | ' | ' | ' | 385 | ' | ' |
Capital contributions from issuance of common stock | 19,095 | ' | 27 | 19,068 | ' | ' | ' | ' |
Capital contributions from initial public offering | 524,081 | ' | 280 | 523,801 | ' | ' | ' | ' |
Compensation expense related to stock incentive plans | 72,998 | ' | ' | 72,998 | ' | ' | ' | ' |
Tax benefits related to stock incentive plans | 12,221 | ' | ' | 12,221 | ' | ' | ' | ' |
Increase (decrease) in common stock subject to repurchase obligation, net | 158,708 | ' | ' | 158,708 | ' | ' | ' | ' |
Purchases of common stock | -32,427 | ' | ' | ' | ' | ' | -32,427 | ' |
Payment of dividends | -17,306 | ' | ' | ' | -17,306 | ' | ' | ' |
Balance at Mar. 28, 2014 | $1,699,140 | ' | $2,501 | $2,480,459 | ($438,861) | ($58,840) | ($286,119) | ' |
BASIS_OF_PRESENTATION_AND_SUMM
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | ||||||||||||
NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | |||||||||||||
On January 26, 2007, ARAMARK Holdings Corporation (the “Company” or “Holdings”), a Delaware corporation controlled by investment funds associated with GS Capital Partners, CCMP Capital Advisors, J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC (collectively, the “Sponsors”), Joseph Neubauer, Chairman and former Chief Executive Officer of ARAMARK Corporation, and certain other members of the Company’s management, acquired all of the outstanding shares of ARAMARK Corporation. | |||||||||||||
The consolidated financial statements include the accounts of the Company and all of its subsidiaries in which a controlling financial interest is maintained. For those material consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside stockholders’ interests are shown as noncontrolling interest in the accompanying Consolidated Balance Sheets. All significant intercompany transactions and accounts have been eliminated. Certain amounts in the prior period’s financial statements have been reclassified to conform with the current year classifications. The reclassifications had no effect on net income. | |||||||||||||
Fiscal Year | |||||||||||||
The Company’s fiscal year is the fifty-two or fifty-three week period which ends on the Friday nearest September 30th. The fiscal years ended September 27, 2013, September 28, 2012 and September 30, 2011 were each fifty-two week periods. | |||||||||||||
New Accounting Standard Updates | |||||||||||||
In December 2011, the FASB issued an accounting standard update (“ASU”) that requires companies with financial instruments and derivative instruments that are offset on the balance sheet or subject to a master netting arrangement to provide additional disclosures regarding the instruments impact on a company’s financial position. In January 2013, the FASB issued an accounting standard update to clarify the scope of this ASU. The guidance is effective for the Company beginning in the first quarter of fiscal 2014. The Company is currently evaluating the impact of this pronouncement. | |||||||||||||
In September 2011, the FASB issued an accounting standard update that simplifies how entities test goodwill for impairment. The amendment permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. The Company adopted the guidance beginning in fiscal 2013 which did not have a material impact on the consolidated financial statements. | |||||||||||||
In June 2011, the FASB issued an accounting standard update that modifies the presentation of comprehensive income in the financial statements. The standard requires an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. This standard eliminates the current option to report other comprehensive income and its components in the statement of changes in equity. The Company adopted the guidance retrospectively beginning in the first quarter of fiscal 2013 which only resulted in changes to the presentation of the consolidated financial statements. | |||||||||||||
In June 2012, the FASB issued an accounting standard update which amends the guidance on testing indefinite-lived intangible assets, other than goodwill, for impairment. The amendment permits an entity to perform a qualitative impairment assessment before proceeding to the two-step impairment test. The Company adopted the guidance beginning in fiscal 2013 which did not have a material impact on the consolidated financial statements. | |||||||||||||
In February 2013, the FASB issued an accounting standard update which requires companies to disclose information about reclassifications out of accumulated other comprehensive income (“AOCI”). Companies also are required to present reclassifications by component when reporting changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the period, companies must report the effect of the reclassifications on the respective line items in the statement where net income is presented. The guidance is effective for the Company beginning in the first quarter of fiscal 2014. The Company is currently evaluating the impact of this pronouncement. | |||||||||||||
Revenue Recognition | |||||||||||||
The Company recognizes sales when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the fee is fixed and determinable and collectability is reasonably assured. In each of the Company’s reportable segments, sales are recognized in the period in which services are provided pursuant to the terms of the Company’s contractual relationships with its clients. The Company generally records sales on food and support services contracts (both profit and loss contracts and client interest contracts) on a gross basis as the Company is the primary obligor and service provider. | |||||||||||||
Certain profit and loss contracts include commissions paid to the client, typically calculated as a fixed or variable percentage of various categories of sales. In some cases these contracts require minimum guaranteed commissions. Commissions paid to clients are recorded in “Cost of services provided.” | |||||||||||||
Sales from client interest contracts are generally comprised of amounts billed to clients for food, labor and other costs that the Company incurs, controls and pays for. Sales from client interest contracts also include any associated management fees, client subsidies or incentive fees based upon the Company’s performance under the contract. Sales from direct marketing activities are recognized upon shipment. All sales related taxes are presented on a net basis. | |||||||||||||
Vendor Consideration | |||||||||||||
Consideration received from vendors include rebates, allowances and volume discounts and are accounted for as an adjustment to the cost of the vendors’ products or services and are reported as a reduction of “Cost of services provided,” “Inventory,” or “Property and Equipment.” Income from rebates, allowances and volume discounts is recognized based on actual purchases in the fiscal period relative to total actual or forecasted purchases to be made over the contractual rebate period agreed to with the vendor. Rebates, allowances and volume discounts related to Inventory held at the balance sheet date are deducted from the carrying value of these inventories. Rebates, allowances and volume discounts related to Property and Equipment are deducted from the costs capitalized. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income includes all changes to stockholders’ equity during a period, except those resulting from investments by and distributions to stockholders. Components of comprehensive income include net income (loss), changes in foreign currency translation adjustments (net of tax), pension plan adjustments (net of tax), changes in the fair value of cash flow hedges (net of tax) and changes to the share of any equity investees’ comprehensive income (net of tax). | |||||||||||||
The tax effects on comprehensive income were as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Pension plan adjustments | $ | (10,198 | ) | $ | 8,646 | $ | 2,207 | ||||||
Foreign currency translation adjustments | 13,690 | 2,684 | (5,515 | ) | |||||||||
Fair value of cash flow hedges | (5,776 | ) | (22,197 | ) | (36,050 | ) | |||||||
Share of equity investee’s comprehensive loss | (1,510 | ) | 7,200 | — | |||||||||
Accumulated other comprehensive loss consists of the following (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Pension plan adjustments | $ | (30,523 | ) | $ | (50,268 | ) | |||||||
Foreign currency translation adjustments | 3,287 | 20,429 | |||||||||||
Fair value of cash flow hedges | (23,994 | ) | (33,106 | ) | |||||||||
Share of equity investee’s Accumulated Other Comprehensive loss | (7,995 | ) | (10,800 | ) | |||||||||
$ | (59,225 | ) | $ | (73,745 | ) | ||||||||
Currency Translation | |||||||||||||
Gains and losses resulting from the translation of financial statements of non-U.S. subsidiaries are reflected as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Transaction gains and losses included in operating results for fiscal 2013, fiscal 2012 and fiscal 2011 were not material. | |||||||||||||
Current Assets | |||||||||||||
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |||||||||||||
Inventories are valued at the lower of cost (principally the first-in, first-out method) or market. Personalized work apparel, linens and other rental items in service are recorded at cost and are amortized over their estimated useful lives, which primarily range from one to four years. The amortization rates used are based on the Company’s specific experience. | |||||||||||||
The components of inventories are as follows: | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Food | 40.4 | % | 39.5 | % | |||||||||
Career apparel and linens | 56.5 | % | 57.2 | % | |||||||||
Parts, supplies and novelties | 3.1 | % | 3.3 | % | |||||||||
100 | % | 100 | % | ||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at cost and are depreciated over their estimated useful lives on a straight-line basis. Gains and losses on dispositions are included in operating results. Maintenance and repairs are charged to current operations, and replacements and significant improvements that extend the useful life of the asset are capitalized. The estimated useful lives for the major categories of property and equipment are 10 to 40 years for buildings and improvements and 3 to 10 years for service equipment and fixtures. Depreciation expense during fiscal 2013, fiscal 2012 and fiscal 2011 was $239.1 million, $236.6 million, and $234.5 million, respectively. | |||||||||||||
Other Assets | |||||||||||||
Other assets consist primarily of investments in 50% or less owned entities, client contract investments, deferred financing costs, computer software costs and long-term receivables. Investments in which the Company owns more than 20% but less than a majority are accounted for using the equity method. Investments in which the Company owns less than 20% are accounted for under the cost method. Client contract investments generally represent a cash payment provided by the Company to help finance improvement or renovation at the facility from which the Company operates. These amounts are amortized over the contract period. If a contract is terminated prior to its maturity date, the Company is generally reimbursed for the unamortized client contract investment amount. Amortization expense for client contract investments was $100.9 million, $86.9 million and $76.7 million during fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||||||
The Company’s principal equity method investment is its 50% ownership interest in AIM Services Co., Ltd., a Japanese food and support services company (approximately $190.7 million and $233.4 million at September 27, 2013 and September 28, 2012, respectively, which is included in “Other Assets” in the Consolidated Balance Sheets). Summarized financial information for AIM Services Co., Ltd. follows (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Current assets | $ | 353,240 | $ | 433,584 | |||||||||
Noncurrent assets | 169,469 | 222,813 | |||||||||||
Current liabilities | 291,926 | 374,062 | |||||||||||
Noncurrent liabilities | 50,880 | 74,680 | |||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Sales | $ | 1,693,598 | $ | 1,916,620 | $ | 1,772,143 | |||||||
Gross profit | 192,857 | 222,033 | 222,970 | ||||||||||
Net income | 29,236 | 39,174 | 41,949 | ||||||||||
The period to period comparisons of the summarized financial information for AIM Services Co., Ltd., presented in U.S. dollars above, is significantly impacted by currency translation. The Company’s equity in undistributed earnings of AIM Services Co., Ltd., net of amortization related to purchase accounting for the 2007 going-private transaction (the “2007 Transaction”), was $11.5 million, $14.7 million and $18.0 million for fiscal 2013, fiscal 2012 and fiscal 2011, respectively, and is recorded as a reduction of “Cost of services provided” in the Consolidated Statements of Income. During fiscal 2013, fiscal 2012 and fiscal 2011, the Company received $7.9 million, $34.9 million and $10.5 million of cash distributions from AIM Services Co., Ltd, respectively. | |||||||||||||
Other Accrued Expenses and Liabilities | |||||||||||||
Accrued expenses and other current liabilities consist principally of insurance accruals, advanced payments from clients, taxes, interest, fair value of interest rate swaps and accrued commissions. Advanced payments from clients as of September 27, 2013 and September 28, 2012 were $292.9 million and $278.5 million, respectively. The Company is self-insured for the risk retained under its health and welfare and general liability and workers’ compensation arrangements. Self-insurance reserves are recorded based on historical claims experience and actuarial analyses. As of September 27, 2013 and September 28, 2012, $93.2 million and $92.2 million of insurance accruals were included in accrued expenses and other current liabilities, respectively. | |||||||||||||
Noncurrent liabilities consist primarily of deferred compensation, insurance accruals, pension liabilities, environmental obligations, fair value of interest rate swaps and other hedging agreements and asset retirement obligations. | |||||||||||||
Share-Based Compensation | |||||||||||||
The Company recognizes compensation cost related to share-based payment transactions in the consolidated financial statements. The cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity award). See Note 11 for additional information on share-based compensation. | |||||||||||||
Earnings Per Share | |||||||||||||
Basic earnings per share is computed using the weighted average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of stock awards. | |||||||||||||
The following table sets forth the computation of basic and diluted earnings per share attributable to ARAMARK Holdings stockholders (in thousands, except per share data): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Earnings: | |||||||||||||
Income from Continuing Operations attributable to ARAMARK Holdings stockholders | $ | 70,386 | $ | 103,254 | $ | 95,578 | |||||||
Income (loss) from Discontinued Operations attributable to ARAMARK Holdings stockholders | (1,030 | ) | 297 | (11,732 | ) | ||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 69,356 | $ | 103,551 | $ | 83,846 | |||||||
Shares: | |||||||||||||
Basic weighted-averages shares outstanding | 201,916 | 203,211 | 203,525 | ||||||||||
Effect of dilutive securities | 7,454 | 6,496 | 6,474 | ||||||||||
Basic weighted-averages shares outstanding | 209,370 | 209,707 | 209,999 | ||||||||||
Earnings Per Share attributable to ARAMARK Holdings stockholders: | |||||||||||||
Basic: | |||||||||||||
Income from Continuing Operations | $ | 0.35 | $ | 0.51 | $ | 0.47 | |||||||
Income (loss) from Discontinued Operations | (0.01 | ) | — | (0.06 | ) | ||||||||
Net income | $ | 0.34 | $ | 0.51 | $ | 0.41 | |||||||
Diluted: | |||||||||||||
Income from Continuing Operations | $ | 0.34 | $ | 0.49 | $ | 0.46 | |||||||
Income (loss) from Discontinued Operations | (0.01 | ) | — | (0.06 | ) | ||||||||
Net income | $ | 0.33 | $ | 0.49 | $ | 0.4 | |||||||
Share-based awards to purchase 6.0 million, 3.2 million and 7.2 million shares were outstanding at September 27, 2013, September 28, 2012 and September 30, 2011, respectively, but were not included in the computation of diluted earnings per share, as their effect would have been antidilutive. In addition, performance-based options to purchase 7.8 million, 8.7 million and 7.2 million shares were outstanding at September 27, 2013, September 28, 2012 and September 30, 2011, respectively, but were not included in the computation of diluted earnings per share, as the performance targets were not met. | |||||||||||||
Supplemental Cash Flow Information | |||||||||||||
(dollars in millions) | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Interest paid | $ | 350.6 | $ | 422.5 | $ | 386.4 | |||||||
Income taxes paid | $ | 74.8 | $ | 82.5 | $ | 64.9 | |||||||
Significant noncash activities follow: | |||||||||||||
• | During fiscal 2013, fiscal 2012 and fiscal 2011, the Company executed capital lease transactions. The present value of the future rental obligations was approximately $16.1 million, $17.0 million and $16.2 million for the respective periods, which is included in property and equipment and long-term borrowings. | ||||||||||||
• | During fiscal 2013, fiscal 2012 and fiscal 2011, approximately $3.5 million, $6.7 million and $4.8 million of common stock of the Company was repurchased through the issuance of promissory notes, respectively. | ||||||||||||
• | During fiscal 2013, fiscal 2012 and fiscal 2011, cashless settlements of the exercise price and related employee minimum tax withholding liabilities of share-based payment awards were approximately $26.9 million, $27.0 million and $25.9 million, respectively. |
DISCONTINUED_OPERATIONS
DISCONTINUED OPERATIONS | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
DISCONTINUED OPERATIONS | ' | ||||||||||||
NOTE 2. DISCONTINUED OPERATIONS: | |||||||||||||
On September 30, 2011, the Company completed the sale of its wholly-owned subsidiary, Galls, LLC (“Galls”), for approximately $75.0 million in cash. The transaction resulted in a pretax loss of approximately $1.5 million (after-tax loss of approximately $12.0 million) during fiscal 2011. Galls is accounted for as a discontinued operation in the Consolidated Statements of Income. Galls’ results of operations have been removed from the Company’s results of continuing operations for all periods presented. Galls was previously included in the Uniform and Career Apparel segment. All related disclosures have also been adjusted to reflect the discontinued operation. | |||||||||||||
The loss from discontinued operations in fiscal 2013 is related to a sales tax audit currently in process for Galls. | |||||||||||||
Summarized selected financial information of discontinued operations is as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Sales | $ | — | $ | — | $ | 162,294 | |||||||
Income (loss) before income taxes | (1,701 | ) | 491 | 441 | |||||||||
Income tax provision (benefit) | (671 | ) | 194 | 175 | |||||||||
(1,030 | ) | 297 | 266 | ||||||||||
Loss on sale, net of tax | — | — | (11,998 | ) | |||||||||
Income (loss) from discontinued operations | $ | (1,030 | ) | $ | 297 | $ | (11,732 | ) | |||||
ACQUISITIONS_AND_DIVESTITURES
ACQUISITIONS AND DIVESTITURES | 6 Months Ended | 12 Months Ended | ||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||
Business Combinations [Abstract] | ' | ' | ||||
ACQUISITIONS AND DIVESTITURES | ' | ' | ||||
(2) DIVESTITURES: | NOTE 3. ACQUISITIONS AND DIVESTITURES: | |||||
Fiscal 2014 | Fiscal 2013 | |||||
McKinley Chalet Hotel | Spin-off of Seamless Holdings Corporation | |||||
On October 7, 2013, the Company completed the sale of its McKinley Chalet Hotel (the “Chalet”) located in Denali National Park for approximately $24.0 million in cash. The transaction resulted in a pretax loss of approximately $6.7 million (net of tax loss of approximately $9.1 million), which is included in “Cost of services provided” in the Condensed Consolidated Statements of Operations for the six months ended March 28, 2014. The pretax loss includes a write-off of an allocation of goodwill of approximately $12.8 million (see Note 5). The results of operations and cash flows associated with the Chalet divestiture were not material to the Company’s Condensed Consolidated Statements of Operations and Cash Flows. | On October 29, 2012, the Company completed the spin-off of its majority interest in Seamless North America, LLC (“Seamless”) to its stockholders. | |||||
Fiscal 2013 | ||||||
Spin-off of Seamless Holdings Corporation | In the spin-off, ARAMARK Corporation distributed all of the issued and outstanding shares of the common stock of Seamless Holdings Corporation (“Seamless Holdings”), an entity formed for the purpose of completing the spin-off and whose assets primarily consist of the Company’s former interest in Seamless, to its parent company and sole stockholder, ARAMARK Intermediate. Thereafter, ARAMARK Intermediate distributed such shares to the Company, its parent company and sole stockholder, who then distributed all of the shares of Seamless Holdings on a pro rata basis to the holders of Holdings common stock as of October 26, 2012, the record date, through a tax-free stock dividend. Each ARAMARK Holdings stockholder received one share of Seamless Holdings common stock for each share of ARAMARK Holdings common stock held as of the record date. | |||||
On October 29, 2012, the Company completed the spin-off of its majority interest in Seamless North America, LLC (“Seamless”) to its stockholders. | Until October 29, 2012, Seamless Holdings and its subsidiaries were part of the Company and its assets, liabilities, results of operations, and cash flows are included in the amounts reported in these consolidated financial statements until that date. | |||||
In the spin-off, ARAMARK Corporation distributed all of the issued and outstanding shares of the common stock of Seamless Holdings Corporation (“Seamless Holdings”), an entity formed for the purpose of completing the spin-off and whose assets primarily consist of the Company’s former interest in Seamless, to its parent company and sole stockholder, ARAMARK Intermediate. Thereafter, ARAMARK Intermediate distributed such shares to the Company, its parent company and sole stockholder, who then distributed all of the shares of Seamless Holdings on a pro rata basis to the holders of Holdings common stock as of October 26, 2012, the record date, through a tax-free stock dividend. Each Holdings stockholder received one share of Seamless Holdings common stock for each share of Holdings common stock held as of the record date. | Following the spin-off, Seamless Holdings is an independent company and the Company retains no ownership interest in Seamless Holdings or Seamless. The Company’s proforma results of operations for fiscal 2013 and fiscal 2012 would not have been materially different than reported assuming the spin-off and related transactions had occurred at the beginning of the prior year period. | |||||
Until October 29, 2012, Seamless Holdings and its subsidiaries were part of the Company and its assets, liabilities, results of operations, and cash flows are included in the amounts reported in these condensed consolidated financial statements until that date. Following the spin-off, Seamless Holdings is an independent company and the Company retains no ownership interest in Seamless Holdings or Seamless. The Company’s proforma results of operations for fiscal 2013 would not have been materially different than reported assuming the spin-off and related transactions had occurred at the beginning of the prior year period. | Fiscal 2012 | |||||
Acquisitions | ||||||
On October 3, 2011, ARAMARK Refreshment Services, LLC, a subsidiary of the Company, purchased all of the outstanding shares of capital stock of Van Houtte USA Holdings, Inc. (doing business as “Filterfresh”), a provider of office coffee services in the United States, for cash consideration of approximately $145.2 million. The acquisition was financed with cash on hand and borrowings under the Company’s revolving credit facility. Under the terms of the purchase agreement, if a certain significant customer relationship was not maintained within a specific timeframe, the Company was entitled to a refund of a portion of the purchase price. During the second quarter of fiscal 2012, the Company received a refund of approximately $7.4 million related to the termination of this customer relationship. | ||||||
As part of the acquisition of Filterfresh, the Company acquired a subsidiary with a redeemable noncontrolling interest. The Company classifies redeemable noncontrolling interests outside of stockholders’ equity in the Consolidated Balance Sheets in “Common Stock Subject to Repurchase and Other.” As of September 27, 2013 and September 28, 2012, the redeemable noncontrolling interest related to the subsidiary was approximately $10.2 million and $10.4 million, respectively. For fiscal 2013, net income attributable to the redeemable noncontrolling interest was $0.8 million. Distributions to the redeemable noncontrolling interest was $0.9 million for fiscal 2013. For fiscal 2012, net income attributable to the redeemable noncontrolling interest was $1.1 million. Distributions to the redeemable noncontrolling interest was $0.9 million for fiscal 2012. | ||||||
For fiscal 2012, $108.0 million of sales and ($1.6) million of net loss, which includes transition and integration costs, were recorded in the Consolidated Statements of Income related to the acquisition. During fiscal 2011, approximately $0.7 million of pretax transaction-related costs related to the acquisition were recorded in earnings. The Company’s proforma results of operations for fiscal 2012 and fiscal 2011 would not have been materially different than reported, assuming the acquisition had occurred at the beginning of fiscal 2011. | ||||||
Fiscal 2011 | ||||||
Acquisitions | ||||||
On March 18, 2011, ARAMARK Clinical Technology Services, LLC, a subsidiary of the Company, purchased the common stock of the ultimate parent company of Masterplan, a clinical technology management and medical equipment maintenance company, for cash consideration of approximately $154.2 million. Also acquired in the transaction was ReMedPar, an independent provider of sourced and refurbished medical equipment parts. During the first quarter of fiscal 2012, the Company sold MESA, a wholly-owned subsidiary acquired as part of the Masterplan acquisition, for cash consideration of approximately $4.2 million. The sale resulted in a reduction to goodwill of approximately $1.7 million. The Company’s proforma results of operations for fiscal 2011 would not have been materially different than reported. | ||||||
During the third quarter of fiscal 2012, the Company received $5.5 million in cash related to the settlement of indemnity claims filed against the former owners of Masterplan. After applying a portion of the proceeds to agreed upon indemnification assets, and after adjusting for certain other exposures, the Company recorded a pretax gain of $1.0 million, which is included in “Cost of services provided” in the Consolidated Statements of Income. | ||||||
The Company followed the acquisition method of accounting in accordance with the accounting standard related to business combinations. The following table summarizes the final fair values of the assets acquired and liabilities assumed from Masterplan (in thousands): | ||||||
Purchase consideration | $ | 154,154 | ||||
Current assets | $ | 29,906 | ||||
Current liabilities | (31,396 | ) | ||||
Property and equipment | 3,736 | |||||
Other intangible assets | 42,800 | |||||
Goodwill | 126,757 | |||||
Other assets | 314 | |||||
Long-term borrowings | (767 | ) | ||||
Deferred income taxes and other noncurrent liabilities | (17,196 | ) | ||||
$ | 154,154 | |||||
For fiscal 2012 and fiscal 2011, $107.3 million and $62.4 million of sales and ($0.2) million and ($4.7) million of net loss, respectively, were recorded in the Consolidated Statements of Income related to Masterplan. | ||||||
Divestitures | ||||||
During fiscal 2011, the Company completed the sale of its 67% ownership interest in the security business of its Chilean subsidiary for approximately $11.6 million in cash. The transaction resulted in a pretax gain of approximately $7.7 million (net of tax gain of approximately $5.8 million), which is included in “Cost of services provided” in the Consolidated Statements of Income. The results of operations and cash flows associated with the security business were not material to the Company’s consolidated operations and cash flows. | ||||||
During the third quarter of fiscal 2011, the Company sold a noncontrolling interest in Seamless, an online and mobile food ordering service, for consideration of $50.0 million in cash. During the fourth quarter of fiscal 2011, the Company completed the sale of its wholly-owned subsidiary, Galls, for approximately $75.0 million in cash (see Note 2). |
SEVERANCE_AND_ASSET_WRITEDOWNS
SEVERANCE AND ASSET WRITE-DOWNS | 6 Months Ended | 12 Months Ended |
Mar. 28, 2014 | Sep. 27, 2013 | |
Restructuring And Related Activities [Abstract] | ' | ' |
SEVERANCE AND ASSET WRITE-DOWNS | ' | ' |
(4) SEVERANCE AND ASSET WRITE-DOWNS: | NOTE 4. SEVERANCE AND ASSET WRITE-DOWNS: | |
During fiscal 2013, the Company initiated a series of actions and developed plans to drive efficiencies through the consolidation and centralization of select functions. As a result, the Company recorded charges during the second quarter of fiscal 2013 of approximately $40.8 million for severance and related costs. The Company also recorded charges of approximately $11.7 million for goodwill impairments and other asset write-downs of approximately $11.4 million primarily related to the write-offs of certain client contractual investments during the second quarter of fiscal 2013. In the second quarter of fiscal 2014, as a result of additional cost saving and productivity initiatives offset by refinements to the Company’s original plans for consolidation and centralization initiatives and actual attrition of the workforce, the Company recorded additional net severance charges of approximately $1.8 million. | During the second quarter of fiscal 2013, the Company initiated a series of actions and further developed its plans to drive efficiency through the consolidation and centralization of its operations. As a result, the Company recorded charges during fiscal 2013 of approximately $63.9 million for severance and related costs. As of September 27, 2013, the Company has an accrual of approximately $46.7 million related to the unpaid obligations for these costs. In addition, during the second quarter of fiscal 2013, the Company recorded charges of approximately $11.7 million for goodwill impairments (see Note 5) and other asset write-downs of approximately $11.4 million primarily related to the write-offs of certain client contractual investments. | |
As of March 28, 2014 and September 27, 2013, the Company had an accrual of approximately $35.7 million and $46.7 million, respectively, related to the unpaid obligations for these costs. |
GOODWILL_AND_OTHER_INTANGIBLE_
GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 5. GOODWILL AND OTHER INTANGIBLE ASSETS: | ||||||||||||||||||||||||||||||||||||||||||||||||||
(5) GOODWILL AND OTHER INTANGIBLE ASSETS: | Goodwill represents the excess of the fair value of consideration paid for an acquired entity over the fair value of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized and is subject to an impairment test that the Company conducts annually or more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists, using discounted cash flows. The Company performs its assessment of goodwill at the reporting unit level. Within the Food and Support Services—International segment, each country is evaluated separately since such operating units are relatively autonomous and separate goodwill balances have been recorded for each entity. The Company has completed the annual goodwill impairment test, which did not result in an impairment charge. The Company performs its annual impairment test as of the end of fiscal August. | |||||||||||||||||||||||||||||||||||||||||||||||||
During the second quarter of fiscal 2013, the Company recorded an impairment charge of approximately $11.7 million in the Food and Support Services—International segment to write-off all of the goodwill associated with its reporting units in Spain and Korea. The impairment charge is included in “Cost of services provided” in the Consolidated Statement of Income. The impairment charge resulted from continued economic weakness in Spain and reductions in government support for the healthcare and education sectors, two of the primary sectors of the Spanish reporting unit. In Korea, the Company undertook a strategic analysis of the Korean reporting unit, which prompted the impairment analysis in the second quarter. The completion of the step two impairment analyses confirmed that goodwill for both reporting units was impaired. During the second quarter of fiscal 2011, the Company recorded an impairment charge of $5.3 million in the Food and Support Services—International segment in order to write off the goodwill (approximately $4.0 million) and other intangible assets (approximately $1.3 million) associated with its India operations. The impairment charge is included in “Cost of services provided” in the Consolidated Statements of Income. The impairment charge primarily resulted from a change in the strategic direction of the business and continuing operating losses due to competitive pressures. The completion of the step two impairment analyses confirmed that goodwill for the reporting unit was impaired. The Company estimated these nonrecurring fair value measurements using a discounted cash flow valuation methodology, a Level 3 measurement, which included making assumptions about the future profitability and cash flows of the business. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill represents the excess of the fair value of consideration paid for an acquired entity over the fair value of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized and is subject to an impairment test that the Company conducts annually or more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists, using discounted cash flows. | Goodwill, allocated by segment (see Note 14 for a description of segments), is as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Changes in total goodwill during the six months ended March 28, 2014 follow (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Segment | September 28, | Acquisitions and | Impairment | Translation | September 27, | |||||||||||||||||||||||||||||||||||||||||||||
2012 | Divestitures | and Other | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
Food and Support Services—North | $ | 3,701,137 | $ | 7,398 | $ | — | $ | (113,487 | ) | $ | 3,595,048 | |||||||||||||||||||||||||||||||||||||||
Segment | September 27, | Acquisitions and | Translation | March 28, | Food and Support Services—International | 454,552 | — | (11,698 | ) | 8,300 | 451,154 | |||||||||||||||||||||||||||||||||||||||
2013 | Divestitures | 2014 | Uniform and Career Apparel | 573,785 | — | — | — | 573,785 | ||||||||||||||||||||||||||||||||||||||||||
FSS North America | $ | 3,595,048 | $ | (11,103 | ) | $ | (176 | ) | $ | 3,583,769 | ||||||||||||||||||||||||||||||||||||||||
FSS International | 451,154 | — | 6,694 | 457,848 | $ | 4,729,474 | $ | 7,398 | $ | (11,698 | ) | $ | (105,187 | ) | $ | 4,619,987 | ||||||||||||||||||||||||||||||||||
Uniform | 573,785 | — | — | 573,785 | ||||||||||||||||||||||||||||||||||||||||||||||
The amounts for acquisitions during fiscal 2013 may be revised upon final determination of the purchase price allocations. The other adjustments to the Food and Support Services—North America segment primarily represents the goodwill related to the Seamless Holdings spin-off (see Note 3). | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 4,619,987 | $ | (11,103 | ) | $ | 6,518 | $ | 4,615,402 | Other intangible assets consist of (in thousands): | |||||||||||||||||||||||||||||||||||||||||
The reduction in goodwill for Food and Support Services—North America (“FSS North America”) is primarily related to the Chalet divestiture (see Note 2). | September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||||||||||||||||||||||||||||
Other intangible assets consist of (in thousands): | Amount | Amortization | Amount | Amount | Amortization | Amount | ||||||||||||||||||||||||||||||||||||||||||||
Customer relationship assets | $ | 1,892,484 | $ | (1,242,578 | ) | $ | 649,906 | $ | 1,897,933 | $ | (1,064,492 | ) | $ | 833,441 | ||||||||||||||||||||||||||||||||||||
Trade names | 760,491 | (1,633 | ) | 758,858 | 763,127 | (1,419 | ) | 761,708 | ||||||||||||||||||||||||||||||||||||||||||
March 28, 2014 | September 27, 2013 | $ | 2,652,975 | $ | (1,244,211 | ) | $ | 1,408,764 | $ | 2,661,060 | $ | (1,065,911 | ) | $ | 1,595,149 | |||||||||||||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||||||||||||||||||||||||||||
Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||||||||||||||||||||||||||||
Customer relationship assets | $ | 1,891,679 | $ | (1,323,921 | ) | $ | 567,758 | $ | 1,892,484 | $ | (1,242,578 | ) | $ | 649,906 | Acquisition-related intangible assets consist of customer relationship assets, the ARAMARK trade name and other trade names. Customer relationship assets are being amortized principally on a straight-line basis over the expected period of benefit, 5 to 24 years, with a weighted average life of approximately 11 years. The ARAMARK trade name is an indefinite lived intangible asset and is not amortizable but is evaluated for impairment at least annually. The Company completed its annual trade name impairment test, which did not result in an impairment charge. | |||||||||||||||||||||||||||||||||||
Trade names | 761,224 | (1,633 | ) | 759,591 | 760,491 | (1,633 | ) | 758,858 | Intangible assets of approximately $21.4 million were acquired through business combinations during fiscal 2013. Amortization of intangible assets for fiscal 2013, fiscal 2012 and fiscal 2011 was approximately $192 million, $198 million and $193 million, respectively. | |||||||||||||||||||||||||||||||||||||||||
The estimated amortization expense of the amortizable intangible assets through 2018 reflects the 2007 Transaction and acquisitions since January 26, 2007. Based on the recorded balances at September 27, 2013, total estimated amortization of all acquisition-related intangible assets for fiscal years 2014 through 2018 follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 2,652,903 | $ | (1,325,554 | ) | $ | 1,327,349 | $ | 2,652,975 | $ | (1,244,211 | ) | $ | 1,408,764 | |||||||||||||||||||||||||||||||||||||
2014 | $ | 156,302 | ||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition-related intangible assets consist of customer relationship assets, the ARAMARK trade name and other trade names. Customer relationship assets are being amortized principally on a straight-line basis over the expected period of benefit, 5 to 24 years, with a weighted average life of approximately 12 years. The ARAMARK trade name is an indefinite lived intangible asset and is not amortizable but is evaluated for impairment at least annually. | 2015 | $ | 131,992 | |||||||||||||||||||||||||||||||||||||||||||||||
2016 | $ | 95,454 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets for the six months ended March 28, 2014 and March 29, 2013 was approximately $85.5 million and $96.3 million, respectively. | 2017 | $ | 71,943 | |||||||||||||||||||||||||||||||||||||||||||||||
2018 | $ | 48,874 |
BORROWINGS
BORROWINGS | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||||||
BORROWINGS | ' | ' | ||||||||||||||||||||
NOTE 6. BORROWINGS: | ||||||||||||||||||||||
(6) BORROWINGS: | As of September 27, 2013 and September 28, 2012, all of the Company’s indebtedness was held by the Company’s wholly-owned subsidiary, ARAMARK Corporation, except for the 8.625% / 9.375% Senior Notes due 2016 (the “Holdings Notes”). Long-term borrowings at September 27, 2013 and September 28, 2012 are summarized in the following table (in thousands): | |||||||||||||||||||||
As of March 28, 2014 and September 27, 2013, all of the Company’s indebtedness was held by ARAMARK Corporation. Long-term borrowings are summarized in the following table (in thousands): | ||||||||||||||||||||||
September 27, | September 28, | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Senior secured revolving credit facility | $ | 10,000 | $ | — | ||||||||||||||||||
March 28, | September 27, | 8.625% / 9.375% Senior Notes, due April 2016 | — | 595,486 | ||||||||||||||||||
2014 | 2013 | Senior secured term loan facility, due January 2014 | — | 650,913 | ||||||||||||||||||
Senior secured revolving credit facility | $ | 173,164 | $ | 10,000 | Senior secured term loan facility, due July 2016 | 3,032,349 | 2,637,920 | |||||||||||||||
Senior secured term loan facility, due July 2016 | 75,450 | 3,032,349 | Senior secured term loan facility, due September 2019 | 1,393,559 | — | |||||||||||||||||
Senior secured term loan facility, due September 2019 | 1,392,469 | 1,393,559 | 8.50% senior notes, due February 2015 | — | 1,280,000 | |||||||||||||||||
Senior secured term loan facility, due February 2021 | 2,600,279 | — | Senior floating rate notes, due February 2015 | — | 500,000 | |||||||||||||||||
5.75% senior notes, due March 2020 | 1,000,000 | 1,000,000 | 5.75% senior notes, due March 2020 | 1,000,000 | — | |||||||||||||||||
Receivables Facility, due January 2015 | 300,000 | 300,000 | Receivables Facility, due January 2015 | 300,000 | 263,800 | |||||||||||||||||
Capital leases | 54,012 | 52,385 | Capital leases | 52,385 | 49,584 | |||||||||||||||||
Other | 42,167 | 35,777 | Other | 35,777 | 31,064 | |||||||||||||||||
5,637,541 | 5,824,070 | 5,824,070 | 6,008,767 | |||||||||||||||||||
Less—current portion | (89,613 | ) | (65,841 | ) | Less—current portion | (65,841 | ) | (37,462 | ) | |||||||||||||
$ | 5,547,928 | $ | 5,758,229 | $ | 5,758,229 | $ | 5,971,305 | |||||||||||||||
On January 26, 2007, ARAMARK Corporation (i) entered into a $4.15 billion senior secured term loan facility with an original maturity date of January 26, 2014, (ii) issued $1.28 billion of 8.50% senior notes due 2015 (the “Fixed Rate Notes”) and $500 million of senior floating rate notes due 2015 (the “Floating Rate Notes”), (iii) entered into a $600 million senior secured revolving credit facility with an original six-year maturity, and (iv) entered into a synthetic letter of credit facility for up to $250 million (which was reduced to $200 million in January 2008). | ||||||||||||||||||||||
The Company used the net proceeds from its initial public offering to repay borrowings of approximately $154.1 million on the senior secured revolving credit facility that were borrowed during the first quarter of fiscal 2014 and $370.0 million on the senior secured term loan facility (see Note 8). | ||||||||||||||||||||||
In the second quarter of fiscal 2013, the Company completed a refinancing, repurchasing all of the Fixed Rate Notes, Floating Rate Notes and Holdings Notes. The Company refinanced that debt with borrowings of ARAMARK Corporation in the form of the new term loans and new notes as described herein. | ||||||||||||||||||||||
Senior Secured Credit Agreement | Senior Secured Credit Agreement | |||||||||||||||||||||
The senior secured credit agreement is comprised of the senior secured term loan facility, the senior secured revolving credit facility and the synthetic letter of credit facility. The senior secured credit agreement provides that ARAMARK Corporation has the right at any time to request up to $750 million of incremental commitments in the aggregate (reduced to $630 million as of September 27, 2013) under one or more incremental term loan facilities and/or synthetic letter of credit facilities and/or revolving credit facilities and/or by increasing commitments under the revolving credit facility. ARAMARK Corporation’s ability to obtain extensions of credit under these incremental facilities or commitments will be subject to the same conditions as extensions of credit under the existing credit facilities. However, the lenders under the existing facilities will not be under any obligation to provide any such incremental facilities or commitments, and any such addition of or increase in facilities or commitments will be subject to pro forma compliance with an incurrence-based financial covenant and customary conditions precedent. | ||||||||||||||||||||||
Senior Secured Term Loan Facilities | Borrowings under the senior secured credit agreement bear interest at a rate equal to an applicable margin plus, at ARAMARK Corporation’s option, either (a) a LIBOR rate determined by reference to the costs of funds for deposits in the currency of such borrowing for the interest period relevant to such borrowing adjusted for certain additional costs, (b) with respect to borrowings denominated in U.S. dollars, a base rate determined by reference to the higher of (1) the prime rate of the administrative agent, and (2) the federal funds rate plus 0.50% or (c) with respect to borrowings denominated in Canadian dollars, (1) a base rate determined by reference to the prime rate of Canadian banks or (2) a BA (bankers’ acceptance) rate determined by reference to the rate offered for bankers’ acceptances in Canadian dollars for the interest period relevant to such borrowing. | |||||||||||||||||||||
All obligations under the senior secured credit agreement are guaranteed by ARAMARK Intermediate Holdco Corporation and, subject to certain exceptions, substantially all existing and future domestic subsidiaries of ARAMARK Corporation (the “U.S. Guarantors”). All obligations of each foreign borrower under the senior secured credit facilities are unconditionally guaranteed by ARAMARK Corporation, the U.S. Guarantors and, subject to certain exceptions and qualifications, the respective other foreign borrowers. All obligations under the senior secured credit agreement are secured by a security interest in substantially all assets of ARAMARK Intermediate Holdco Corporation, ARAMARK Corporation and the U.S. Guarantors. The senior secured credit agreement obligations are also secured by pledges of 100% of the capital stock of ARAMARK Corporation and 100% of the capital stock held by ARAMARK Corporation or any of the U.S. Guarantors. | ||||||||||||||||||||||
2014 Amendment Agreement | The senior secured credit agreement requires ARAMARK Corporation to prepay outstanding term loans, subject to certain exceptions, with (i) 50% of ARAMARK Corporation’s Excess Cash Flow if the Consolidated Capital Leverage Ratio is above 5.25x or 25% of ARAMARK Corporation’s Excess Cash Flow if the Consolidated Capital Leverage Ratio falls between 5.25x and 4.50x (as defined in the senior secured credit agreement) (the actual ratio at September 27, 2013 was 4.88x), (ii) 100% of the net cash proceeds of all nonordinary course asset sales or other dispositions of property subject to certain exceptions and customary reinvestment rights, and (iii) 100% of the net cash proceeds of any incurrence of debt, including debt incurred by any business securitization subsidiary in respect of any business securitization facility, but excluding proceeds from ARAMARK Corporation’s Receivables Facility and other debt permitted under the senior secured credit agreement. Any mandatory prepayments would be applied to the term loan facilities as directed by ARAMARK Corporation. Generally, ARAMARK Corporation is permitted to voluntarily repay outstanding loans under the senior secured credit agreement at any time without premium or penalty, other than customary “breakage” costs with respect to LIBOR loans. | |||||||||||||||||||||
The senior secured credit agreement contains a number of covenants that, among other things, restrict, subject to certain exceptions, ARAMARK Corporation’s ability to: incur additional indebtedness; issue preferred stock or provide guarantees; create liens on assets; engage in mergers or consolidations; sell assets; pay dividends, make distributions or repurchase its capital stock; make investments, loans or advances; repay or repurchase any notes, except as scheduled or at maturity; create restrictions on the payment of dividends or other amounts to ARAMARK Corporation from its restricted subsidiaries; make certain acquisitions; engage in certain transactions with affiliates; amend material agreements governing ARAMARK Corporation’s outstanding notes (or any indebtedness that refinances the notes); and fundamentally change ARAMARK Corporation’s business. In addition, the senior secured revolving credit facility requires ARAMARK Corporation to maintain a maximum senior secured leverage ratio and imposes limitations on capital expenditures. The senior secured credit agreement also contains certain customary affirmative covenants, such as financial and other reporting, and certain events of default. At September 27, 2013, ARAMARK Corporation was in compliance with all of these covenants. | ||||||||||||||||||||||
On February 24, 2014, ARAMARK Corporation entered into an Amendment Agreement (“2014 Amendment Agreement”) to the Amended and Restated Credit Agreement dated as of March 26, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). The 2014 Amendment Agreement amends and restates the Credit Agreement effective as of February 24, 2014. Among other things, the 2014 Amendment Agreement provides for approximately $3,982.0 million in the aggregate of new term loans, $2,582.0 million of which have a maturity date of February 24, 2021 and $1,400.0 million of which have a maturity date of September 7, 2019. The term loans due on February 24, 2021 include €140.0 million of term loans denominated in euros, £115.0 million of term loans denominated in sterling and ¥5,042.0 million of term loans denominated in yen. The new term loans were borrowed on February 24, 2014 and the proceeds were used to refinance existing term loans due 2016 and 2019 (with the exception of approximately $75.0 million in term loans due 2016 borrowed by ARAMARK Corporation’s Canadian subsidiary, which remain outstanding). All U.S. dollar denominated new term loans have an applicable margin of 2.50% for eurocurrency (LIBOR) borrowings, subject to a LIBOR floor of 0.75%, and an applicable margin of 1.50% for base-rate borrowings, subject to a minimum base rate of 1.75%. The new yen denominated and Euro denominated term loans have an applicable margin of 2.75% and the new sterling denominated terms loans have an applicable margin of 3.25%. The term loans due on February 24, 2021 were borrowed with an original issue discount of 0.50%. The term loans due on September 7, 2019 were borrowed with an original issue discount of 0.25%. | The senior secured credit agreement requires ARAMARK Corporation to maintain a maximum Consolidated Secured Debt Ratio, defined as consolidated total indebtedness secured by a lien to Covenant Adjusted EBITDA (as defined) of 5.875x, being reduced over time to 5.125x by the end of 2016 (as of September 27, 2013—5.75x). Consolidated total indebtedness secured by a lien is defined in the senior secured credit agreement as total indebtedness outstanding under the senior secured credit agreement, capital leases, advances under the Receivables Facility and any other indebtedness secured by a lien reduced by the lesser of the amount of cash and cash equivalents on the consolidated balance sheet that is free and clear of any lien and $75 million. Non-compliance with the maximum Consolidated Secured Debt Ratio could result in the requirement to immediately repay all amounts outstanding under such agreement, which, if ARAMARK Corporation’s revolving credit facility lenders failed to waive any such default, would also constitute a default under the indenture. The actual ratio at September 27, 2013 was 4.00x. | |||||||||||||||||||||
The senior secured credit agreement establishes an incurrence-based minimum Interest Coverage Ratio, defined as Adjusted EBITDA to consolidated interest expense, as a condition for ARAMARK Corporation to incur additional indebtedness and to make certain restricted payments. The minimum Interest Coverage Ratio is 2.00x for the term of the senior secured credit agreement. If ARAMARK Corporation does not maintain this minimum Interest Coverage Ratio calculated on a pro forma basis for any such additional indebtedness or restricted payments, it could be prohibited from being able to incur additional indebtedness, other than the additional funding provided for under the senior secured credit agreement and pursuant to specified exceptions, and make certain restricted payments, other than pursuant to certain exceptions. Consolidated interest expense is defined in the senior secured credit agreement as consolidated interest expense excluding interest income, adjusted for acquisitions and dispositions, further adjusted for certain non-cash or nonrecurring interest expense and ARAMARK Corporation’s estimated share of interest expense from one equity method investee. The actual ratio was 3.52x for the twelve months ended September 27, 2013. | ||||||||||||||||||||||
Senior Secured Term Loan Facilities | ||||||||||||||||||||||
The senior secured term loan facility consists of the following subfacilities as of September 27, 2013: | ||||||||||||||||||||||
During the second quarter of fiscal 2014, approximately $22.9 million of lender fees and third-party costs directly attributable to the term loans of the 2014 Amendment Agreement were capitalized and are included in the Condensed Consolidated Balance Sheets. Approximately $3.4 million and $5.1 million of the third-party costs were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners, respectively. The Company also recorded charges to “Interest and Other Financing Costs, net” in the Condensed Consolidated Statements of Operations for the three and six months ended March 28, 2014 consisting of $13.1 million of third-party costs and $12.6 million of non-cash charges for the write-off of deferred financing costs and original issue discount. | ||||||||||||||||||||||
• | A U.S. dollar denominated term loan to ARAMARK Corporation in the amount of $2,670.5 million (due 2016) and $1,400.0 million (due 2019); | |||||||||||||||||||||
Amendment Agreement No. 1 | ||||||||||||||||||||||
• | A yen denominated term loan to ARAMARK Corporation in the amount of ¥5,056.0 million (due 2016); | |||||||||||||||||||||
On March 28, 2014, ARAMARK Corporation entered into Amendment Agreement No. 1 to the Credit Agreement, which allowed ARAMARK Corporation to borrow Canadian dollar denominated term loan in an amount of CAD34.0 million, due February 2021. | ||||||||||||||||||||||
• | A U.S. dollar denominated term loan to a Canadian subsidiary in the amount of $75.5 million (due 2016); | |||||||||||||||||||||
2013 Amendment Agreements | ||||||||||||||||||||||
• | A Euro denominated term loan to an Irish subsidiary in an amount of €30.4 million (due 2016); | |||||||||||||||||||||
Amendment Agreement No. 4 | ||||||||||||||||||||||
• | A sterling denominated term loan to a U.K. subsidiary in an amount of £82.3 million (due 2016); and | |||||||||||||||||||||
On February 22, 2013, ARAMARK Corporation entered into Amendment Agreement No. 4 (“Amendment Agreement No. 4”) to the Credit Agreement which provided for, among other things, additional term loans and the extension of a portion of the revolving credit facility. On March 7, 2013, ARAMARK Corporation borrowed $1,400 million of term loans pursuant to Amendment Agreement No. 4. The new term loans were borrowed by ARAMARK Corporation with an original issue discount of 0.50%. During the second quarter of fiscal 2013, approximately $16.8 million of third-party costs directly attributable to Amendment Agreement No. 4 were capitalized and are included in “Other Assets” in the Condensed Consolidated Balance Sheets, of which approximately $6.8 million were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
• | A Euro denominated term loan to German subsidiaries in the amount of €46.1 million (due 2016). | |||||||||||||||||||||
Amendment Agreement No. 3 | ||||||||||||||||||||||
ARAMARK Corporation is required to repay the senior secured term loan facilities in quarterly principal amounts of 0.25% of the funded total principal amount, with the remaining amount payable on July 26, 2016. In September 2013, ARAMARK Corporation made a payment of outstanding U.S. dollar term loan due 2016 of $265.0 million. | ||||||||||||||||||||||
On December 20, 2012, ARAMARK Corporation amended the senior secured credit agreement (“Amendment Agreement No. 3”) to, among other things, borrow $670 million of new term loans to repay approximately $650 million of existing term loans and to fund certain discounts, fees and costs associated with the amendment. For the six months ended March 29, 2013, approximately $11.6 million of third-party costs directly attributable to Amendment Agreement No. 3 were expensed and are included in “Interest and Other Financing Costs, net” in the Condensed Consolidated Statements of Operations. Approximately $4.6 million of the third-party costs were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | Amendment Agreement No. 4 | |||||||||||||||||||||
On February 22, 2013, ARAMARK Corporation entered into Amendment Agreement No. 4 (“Amendment Agreement No. 4”) to the Amended and Restated Credit Agreement dated as of March 26, 2010 (as amended, the “Credit Agreement”) which provided for, among other things, additional term loans and the extension of a portion of the revolving credit facility. On March 7, 2013, ARAMARK Corporation borrowed $1,400 million of term loans pursuant to Amendment Agreement No. 4. The new term loans were borrowed by ARAMARK Corporation with an original issue discount of 0.50%. The term loans under Amendment Agreement No. 4 mature on September 7, 2019. These term loans have a Eurocurrency rate margin, with respect to the U.S. dollar denominated, Canadian dollar denominated and Euro denominated term loans, of 3.00% and base rate margin on U.S. dollar denominated base rate term loans of 2.00%. Eurocurrency rate borrowings have a minimum LIBOR rate of 1.00% and base rate borrowings have a minimum rate of 2.00%. | ||||||||||||||||||||||
Senior Secured Revolving Credit Facility | Amendment Agreement No. 4 also increased the applicable margins for ARAMARK Corporation’s existing term loans and the fee rates on letter of credit deposits with respect to the synthetic letter of credit facility. From and after the effective date of Amendment Agreement No. 4, (A) the Eurocurrency rate margin and letter of credit fees with respect to the U.S. dollar denominated, Canadian dollar denominated and Euro denominated term loans and extended maturity letter of credit deposits increased 0.25% to 3.50%, (B) the margin on U.S. dollar denominated base rate term loans increased 0.25% to 2.50% and (C) the margins on yen denominated term loans and sterling denominated term loans increased 0.125% to 3.50%. | |||||||||||||||||||||
Amendment Agreement No. 4 also provided for an increase in the maximum Consolidated Secured Debt Ratio to reflect the additional secured indebtedness associated with the new term loan borrowings and certain additional flexibility with respect to the restricted payments covenant. | ||||||||||||||||||||||
The 2014 Amendment Agreement also provides for the extension, from January 26, 2017 to February 24, 2019, of the maturity of $565.0 million in revolving lender commitments of the existing $605.0 million revolving credit facility under the Credit Agreement. The 2014 Amendment Agreement also increases the revolving lender commitments by $165.0 million, for a total revolving credit facility of $770.0 million. | During the second quarter of fiscal 2013, approximately $14.0 million of third-party costs directly attributable to the term loans borrowed pursuant to Amendment Agreement No. 4 were capitalized and are included in “Other Assets” in the Consolidated Balance Sheets, of which approximately $6.2 million were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | |||||||||||||||||||||
Amendment Agreement No. 3 | ||||||||||||||||||||||
During the second quarter of fiscal 2014, approximately $4.8 million of third-party costs directly attributable to the revolving credit facility of the 2014 Amendment Agreement were capitalized and are included in “Other Assets” in the Condensed Consolidated Balance Sheets. | On December 20, 2012, ARAMARK Corporation amended the senior secured credit agreement (“Amendment Agreement No. 3”) to, among other things, borrow $670 million of new term loans with a maturity date of July 26, 2016. The proceeds of the new term loans were used primarily to repay approximately $650 million of existing term loans with a maturity date of January 26, 2014 and to fund certain discounts, fees and costs associated with the amendment. The existing term loans repaid in connection with Amendment Agreement No. 3 included U.S. dollar denominated term loans as well as non-U.S. dollar term loans and consisted of the remaining balance of the term loans maturing in January 2014. The new term loans were borrowed by ARAMARK Corporation with an original issue discount of 0.25%. | |||||||||||||||||||||
During the first quarter of fiscal 2013, approximately $11.6 million of third-party costs directly attributable to Amendment Agreement No. 3 were expensed and are included in “Interest and Other Financing Costs, net” in the Consolidated Statements of Income. Approximately $4.6 million of the third-party costs were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
5.75% Senior Notes due 2020 | ||||||||||||||||||||||
Amendment Agreement No. 2 | ||||||||||||||||||||||
On March 7, 2013, ARAMARK Corporation issued $1,000 million of 5.75% Senior Notes due 2020 (the “Senior Notes”) pursuant to a new indenture, dated as of March 7, 2013 (the “Indenture”), entered into by ARAMARK Corporation. | On February 29, 2012, ARAMARK Corporation entered into Amendment Agreement No. 2 (“Amendment Agreement No. 2”) to the Credit Agreement. Amendment Agreement No. 2 extended the maturity date of an aggregate U.S. dollar equivalent of approximately $1,231.6 million of ARAMARK Corporation’s term loans and $66.7 million of letter of credit deposits securing ARAMARK Corporation’s synthetic letter of credit facility to July 26, 2016. Consenting lenders received a one-time amendment fee of approximately $3.2 million in the aggregate on their total loan commitments. | |||||||||||||||||||||
During the second quarter of fiscal 2012, approximately $7.5 million of third-party costs directly attributable to Amendment Agreement No. 2 were expensed and are included in “Interest and Other Financing Costs, net” in the Consolidated Statements of Income. Approximately $4.5 million of the third-party costs were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
Senior Secured Revolving Credit Facility | ||||||||||||||||||||||
The senior secured revolving credit facility consists of the following subfacilities: | ||||||||||||||||||||||
During the second quarter of fiscal 2013, approximately $13.8 million of third-party costs directly attributable to the Senior Notes were capitalized and are included in “Other Assets” in the Condensed Consolidated Balance Sheets. Approximately $7.3 million of the third-party costs were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
• | A revolving credit facility available for loans in U.S. dollars to ARAMARK Corporation with aggregate commitments of $555 million ($515 million with a final maturity of January 26, 2017 and $40 million with a final maturity of January 26, 2015); and | |||||||||||||||||||||
Repurchase of 8.50% Senior Notes due 2015, Senior Floating Rate Notes due 2015 and 8.625% / 9.375% Senior Notes due 2016 | ||||||||||||||||||||||
• | A revolving credit facility available for loans in Canadian dollars or U.S. dollars to ARAMARK Corporation or a Canadian subsidiary with aggregate commitments of $50 million (due January 26, 2017). | |||||||||||||||||||||
In February 2013, the Company and ARAMARK Corporation commenced a tender offer to purchase for cash any and all of the 8.625% / 9.375% Senior Notes due 2016 and the 8.50% Senior Notes due 2015 and the Senior Floating Notes due 2015 (collectively, the “Notes”). On March 7, 2013, the Company used a portion of the aggregate proceeds of the Senior Notes offering and the borrowings under the new term loans pursuant to Amendment Agreement No. 4 to purchase all Notes tendered by March 6, 2013, the early tender date. | Amendment Agreement No. 1 | |||||||||||||||||||||
On April 18, 2011, ARAMARK Corporation entered into an Amendment Agreement to the Restated Credit Agreement (the “Amendment Agreement No. 1”) that extended, from January 2013 to January 2015, the maturity of, and increased, from $435 million to $500 million, the U.S. dollar denominated portion of its existing revolving credit facility. Any commitments from existing lenders in the U.S. dollar facility that were not extended were terminated, which resulted in a write-off of deferred financing fees of $2.1 million in fiscal 2011. Existing lenders that extended the U.S. dollar denominated portion of their existing revolving credit facility include entities affiliated with GS Capital Partners and J.P. Morgan Partners. Commitment fees and third party costs directly attributable to the amendment were approximately $7.2 million in fiscal 2011, of which approximately $3.9 million were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
In connection with the tender offer and the full and complete satisfaction and discharge of the remaining aggregate principal of the Notes, the Company recorded $39.8 million of charges to “Interest and Other Financing Costs, net” in the Condensed Consolidated Statements of Operations for the three and six months ended March 27, 2013, consisting of $12.9 million of third party costs for the tender offer premium and $26.9 million of non-cash charges for the write-off of deferred financing costs. | Amendment Agreement No. 4 | |||||||||||||||||||||
Amendment Agreement No. 4 provided for the extension, from January 26, 2015 to January 26, 2017, of the maturity of $500 million in revolving lender commitments of the existing $550 million revolving credit facility, which extended portion was subsequently increased to $510 million. The maturity date of the extended revolving credit facilities would accelerate to April 26, 2016 if term loans under the Credit Agreement that are due on July 26, 2016 remain outstanding on April 26, 2016. Third party costs directly attributable to the revolving credit facility of approximately $2.8 million were capitalized and are included in “Other Assets” in the Consolidated Balance Sheets, of which approximately $0.6 million were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
Amendment Agreement No. 5 | ||||||||||||||||||||||
On March 22, 2013, ARAMARK Corporation entered into Amendment Agreement No. 5 (“Amendment Agreement No. 5”) to the Credit Agreement. Amendment Agreement No. 5 increased the aggregate revolving loan commitments made available to ARAMARK Corporation under the Credit Agreement by $55.0 million to $605.0 million. | ||||||||||||||||||||||
The applicable margin spread for borrowings under the revolving credit facility are 3.25% with respect to Eurocurrency borrowings and 2.25% with respect to base-rate borrowings. | ||||||||||||||||||||||
In addition to paying interest on outstanding principal under the senior secured credit agreement, ARAMARK Corporation is required to pay a commitment fee to the lenders under the revolving credit facility in respect of the unutilized commitments thereunder. The commitment fee rate is 0.50% per annum. | ||||||||||||||||||||||
As of September 27, 2013, there was approximately $579.0 million available for borrowing on the credit facility. | ||||||||||||||||||||||
8.625% / 9.375% Senior Notes due 2016 | ||||||||||||||||||||||
On April 18, 2011, the Company completed a private placement of $600 million, net of a 1% discount, in aggregate principal amount of 8.625% / 9.375% Senior Notes due 2016. Interest on the Holdings Notes accrues at the rate of 8.625% per annum with respect to interest payments made in cash and 9.375% per annum with respect to any payment in-kind interest. The Holdings Notes are obligations of the Company, are not guaranteed by ARAMARK Corporation and its subsidiaries and are structurally subordinated to all existing and future indebtedness and other liabilities of ARAMARK Corporation and its subsidiaries. | ||||||||||||||||||||||
The Company used the net proceeds from the offering of the Holdings Notes, along with $132.7 million in borrowings by ARAMARK Corporation under the extended U.S. dollar revolving credit facility, to pay an approximately $711 million dividend ($3.50 per share) to the Company’s stockholders and to pay fees and expenses related to the issuance of the Holdings Notes. Third party costs directly attributable to the Holdings Notes were approximately $14.6 million, of which approximately $8.3 million were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
5.75% Senior Notes due 2020 | ||||||||||||||||||||||
On March 7, 2013, ARAMARK Corporation issued $1,000 million of 5.75% Senior Notes due 2020 (the “Senior Notes”) pursuant to a new indenture, dated as of March 7, 2013 (the “Indenture”). The Senior Notes were issued at par. The Senior Notes were sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain persons in offshore transactions in reliance on Regulation S, under the Securities Act. The Senior Notes are unsecured obligations of ARAMARK Corporation. The Senior Notes rank equal in right of payment to all of ARAMARK Corporation’s existing and future senior debt and senior in right of payment to all of ARAMARK Corporation’s existing and future debt that is expressly subordinated in right of payment to the Senior Notes. The Senior Notes are guaranteed on a senior, unsecured basis by substantially all of the domestic subsidiaries of ARAMARK Corporation. Interest on the Senior Notes is payable on March 15 and September 15 of each year, commencing on September 15, 2013. The Senior Notes and guarantees are structurally subordinated to all of the liabilities of any of ARAMARK Corporation’s subsidiaries that do not guarantee the Senior Notes. The Senior Notes mature on March 15, 2020. | ||||||||||||||||||||||
Prior to March 15, 2015, ARAMARK Corporation may redeem up to 40% of the Senior Notes with the proceeds from one or more qualified equity offerings at a price equal to 105.750% of the principal amount of the Senior Notes redeemed, plus accrued and unpaid interest and additional interest, if any, to the date of redemption. In addition, at any time prior to March 15, 2015, ARAMARK Corporation may redeem all or a portion of the Senior Notes at a price equal to 100% of the principal amount of the Senior Notes redeemed plus a “make whole” premium and accrued and unpaid interest and additional interest, if any, to the date of redemption. Thereafter, ARAMARK Corporation has the option to redeem all or a portion of the Senior Notes at any time at the redemption prices set forth in the Indenture. | ||||||||||||||||||||||
In the event of certain types of changes of control, the holders of the Senior Notes may require ARAMARK Corporation to purchase for cash all or a portion of their Senior Notes at a purchase price equal to 101% of the principal amount of such Senior Notes, plus accrued and unpaid interest, if any, to the date of repurchase. | ||||||||||||||||||||||
The Indenture contains covenants limiting ARAMARK Corporation’s ability and the ability of its restricted subsidiaries to: incur additional indebtedness or issue certain preferred shares; pay dividends and make certain distributions, investments and other restricted payments; create certain liens; sell assets; enter into transactions with affiliates; limit the ability of restricted subsidiaries to make payments to ARAMARK Corporation; enter into sale and leaseback transactions; merge, consolidate, sell or otherwise dispose of all or substantially all of ARAMARK Corporation’s assets; and designate ARAMARK Corporation’s subsidiaries as unrestricted subsidiaries. The Indenture also provides for events of default which, if any of them occurs, would permit or require the principal of and accrued interest on the Senior Notes to become or to be declared due and payable. | ||||||||||||||||||||||
During the second quarter of fiscal 2013, approximately $13.8 million of third-party costs directly attributable to the Senior Notes were capitalized and are included in “Other Assets” in the Consolidated Balance Sheets. Approximately $7.3 million of the third-party costs were paid to entities affiliated with GS Capital Partners and J.P. Morgan Partners. | ||||||||||||||||||||||
Registration Rights Agreement | ||||||||||||||||||||||
On March 7, 2013, ARAMARK Corporation entered into a registration rights agreement (the “Registration Rights Agreement”) among the guarantors named therein and Goldman, Sachs & Co. and J.P. Morgan Securities LLC, as representatives of the several initial purchasers, with respect to the Senior Notes. In the Registration Rights Agreement, ARAMARK Corporation agreed to, among other things, (1) file an exchange offer registration statement pursuant to which ARAMARK Corporation will offer exchange notes with terms identical in all material respects to, and evidencing the same indebtedness as, the Senior Notes, in exchange for such notes (but which exchange notes will not contain terms with respect to transfer restrictions or provide for the additional interest described below); and (2) use commercially reasonable efforts to cause the exchange offer registration statement to be declared effective under the Securities Act. ARAMARK Corporation has agreed to use commercially reasonable efforts to cause the exchange offer to be consummated or, if required, to have one or more shelf registration statements declared effective, within 390 days after the issue date of the Senior Notes. | ||||||||||||||||||||||
If ARAMARK Corporation fails to satisfy this obligation (a “registration default”), the annual interest rate on the Senior Notes will increase by 0.25%. The annual interest rate on the Senior Notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 1.00% per year over the applicable interest rate in the Indenture. If the registration default is corrected, the applicable interest rate on the Senior Notes will revert to the original level. | ||||||||||||||||||||||
Repurchase of 8.50% Senior Notes due 2015, Senior Floating Rate Notes due 2015 and 8.625% / 9.375% Senior Notes due 2016 | ||||||||||||||||||||||
Tender Offer | ||||||||||||||||||||||
In February 2013, ARAMARK Corporation and the Company commenced a tender offer to purchase for cash any and all of the Holdings Notes and the Fixed Rate Notes and the Floating Rate Notes (collectively, the “Notes”). On March 7, 2013, ARAMARK Corporation used a portion of the aggregate proceeds of the Senior Notes offering and the borrowings under the new term loans pursuant to Amendment Agreement No. 4 to purchase all Notes tendered by March 6, 2013, the early tender date. On March 7, 2013, ARAMARK Corporation issued redemption notices for the portions of ARAMARK Corporation’s Fixed Rate Notes and Floating Rate Notes that remained outstanding, including accrued and unpaid interest, as of March 7, 2013, which provided for the redemption of such notes on April 6, 2013 at prices of 100% of the principal amount thereof. On March 7, 2013, the Company issued a redemption notice for the portion of the Holdings Notes that remained outstanding as of March 7, 2013, including accrued and unpaid interest, which notices provided for the redemption of the Holdings Notes on May 1, 2013 at a price of 101% of the principal amount thereof. | ||||||||||||||||||||||
On March 7, 2013, ARAMARK Corporation and the Company deposited sufficient funds in trust with the trustee under the indenture governing the Notes in full and complete satisfaction and discharge of the remaining aggregate principal amount of such notes, including accrued and unpaid interest (the “Satisfaction and Discharge”). As a result of the Satisfaction and Discharge, the trustee became the primary obligor for payment of the remaining Notes on or about the redemption notice date of March 7, 2013. ARAMARK Corporation and the Company had a contingent obligation for payment of the Notes were the trustee to default on its payment obligations. The Company believed the risk of such default was remote and therefore did not record a related liability. The remaining Fixed Rate Notes and Floating Rate Notes were redeemed by the trustee on April 6, 2013. The remaining Holdings Notes were redeemed by the trustee on May 1, 2013. | ||||||||||||||||||||||
During the second quarter of fiscal 2013, in connection with the tender offer and Satisfaction and Discharge, the Company recorded $39.8 million of charges to “Interest and Other Financing Costs, net” in the Consolidated Statements of Income, consisting of $12.9 million of third party costs for the tender offer premium and $26.9 million of non-cash charges for the write-off of deferred financing costs. | ||||||||||||||||||||||
Future Maturities and Interest and Other Financing Costs, net | ||||||||||||||||||||||
At September 27, 2013, annual maturities on long-term borrowings in the next five fiscal years and thereafter (excluding the $7.8 million discount on the senior secured term loan facilities and presumes repayment of the $2.6 billion U.S. and non-U.S. denominated term loans on July 26, 2016) are as follows (in thousands): | ||||||||||||||||||||||
2014 | $ | 65,841 | ||||||||||||||||||||
2015 | $ | 349,487 | ||||||||||||||||||||
2016 | $ | 3,025,340 | ||||||||||||||||||||
2017 | $ | 30,241 | ||||||||||||||||||||
2018 | $ | 19,788 | ||||||||||||||||||||
Thereafter | $ | 2,341,138 | ||||||||||||||||||||
The components of interest and other financing costs, net, are summarized as follows (in thousands): | ||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||
Interest expense | $ | 425,625 | $ | 459,083 | $ | 466,140 | ||||||||||||||||
Interest income | (6,430 | ) | (5,477 | ) | (18,653 | ) | ||||||||||||||||
Other financing costs | 4,650 | 3,201 | 3,633 | |||||||||||||||||||
Total | $ | 423,845 | $ | 456,807 | $ | 451,120 | ||||||||||||||||
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||
DERIVATIVE INSTRUMENTS | ' | ' | ||||||||||||||||||||||||
NOTE 7. DERIVATIVE INSTRUMENTS: | ||||||||||||||||||||||||||
(7) DERIVATIVE INSTRUMENTS: | The Company enters into contractual derivative arrangements to manage changes in market conditions related to interest on debt obligations, foreign currency exposures and exposure to fluctuating natural gas, gasoline and diesel fuel prices. Derivative instruments utilized during the period include interest rate swap agreements, foreign currency forward exchange contracts, and gasoline and diesel fuel agreements. All derivative instruments are recognized as either assets or liabilities on the balance sheet at fair value at the end of each quarter. The counterparties to the Company’s contractual derivative agreements are all major international financial institutions. The Company is exposed to credit loss in the event of nonperformance by these counterparties. The Company continually monitors its positions and the credit ratings of its counterparties, and does not anticipate nonperformance by the counterparties. For designated hedging relationships, the Company formally documents the hedging relationship and its risk management objective and strategy for undertaking the hedge, the hedging instrument, the hedged item, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method of measuring ineffectiveness. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting cash flows of hedged items. | |||||||||||||||||||||||||
The Company enters into contractual derivative arrangements to manage changes in market conditions related to interest on debt obligations, foreign currency exposures and exposure to fluctuating gasoline and diesel fuel prices. Derivative instruments utilized during the period include interest rate swap agreements, foreign currency forward exchange contracts, and gasoline and diesel fuel agreements. All derivative instruments are recognized as either assets or liabilities on the balance sheet at fair value at the end of each quarter. The counterparties to the Company’s contractual derivative agreements are all major international financial institutions. The Company is exposed to credit loss in the event of nonperformance by these counterparties. The Company continually monitors its positions and the credit ratings of its counterparties, and does not anticipate nonperformance by the counterparties. For designated hedging relationships, the Company formally documents the hedging relationship and its risk management objective and strategy for undertaking the hedge, the hedging instrument, the hedged item, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method of measuring ineffectiveness. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting cash flows of hedged items. | Cash Flow Hedges | |||||||||||||||||||||||||
The Company previously entered into $1.0 billion of interest rate swap agreements, fixing the rate on a like amount of variable rate borrowings. During fiscal 2013, the Company entered into $1.3 billion of forward starting interest rate swap agreements to hedge the cash flow risk of variability in interest payments on variable rate borrowings. Subsequent to September 27, 2013, the Company entered into an additional $600 million notional amount of forward starting interest rate swap agreements to hedge the cash flow risk of variability in interest rate payments on variable rate borrowings. Changes in the fair value of a derivative that is designated as and meets all the required criteria for a cash flow hedge are recorded in accumulated other comprehensive income (loss) and reclassified into earnings as the underlying hedged item affects earnings. As of September 27, 2013 and September 28, 2012, approximately ($20.5) million and ($28.1) million of unrealized net of tax losses related to the interest rate swaps were included in “Accumulated other comprehensive loss,” respectively. The hedge ineffectiveness for these cash flow hedging instruments during fiscal 2013, fiscal 2012 and fiscal 2011 was not material. | ||||||||||||||||||||||||||
Cash Flow Hedges | The Company previously entered into a $160.0 million amortizing cross currency swap to mitigate the risk of variability in principal and interest payments on the Canadian subsidiary’s variable rate debt denominated in U.S. dollars. The agreement fixes the rate on the variable rate borrowings and mitigates changes in the Canadian dollar/U.S. dollar exchange rate. In March 2012, the cross currency swap was amended to match the terms of the Canadian subsidiary’s debt that was impacted by the Amendment Agreement No. 2. A portion of the swap was amended and extended to match the terms related to its variable rate debt denominated in U.S. dollars that was extended under Amendment Agreement No. 2. The Company has designated the swaps as cash flow hedges. During fiscal 2013 and fiscal 2012, approximately $1.0 million and ($8.1) million of unrealized net of tax gains (losses) related to the swap were added to “Accumulated other comprehensive loss,” respectively. Approximately ($4.0) million and $10.0 million were reclassified to offset net translation gains (losses) on the foreign currency denominated debt during fiscal 2013 and fiscal 2012, respectively. As of September 27, 2013 and September 28, 2012, unrealized net of tax losses of approximately ($3.5) million and ($5.0) million related to the cross currency swap were included in “Accumulated other comprehensive loss,” respectively. As a result of amending the cross currency swap, the hedge ineffectiveness for fiscal 2012 was approximately $3.6 million, which is recorded in “Interest and Other Financing Costs, net”. The hedge ineffectiveness for this cash flow hedging instrument during fiscal 2013 and fiscal 2011 was not material. | |||||||||||||||||||||||||
As a result of Amendment Agreement No. 3, the Company de-designated the cross currency swap that hedged the Canadian subsidiary’s term loan with a maturity date of January 26, 2014. Prior to Amendment Agreement No. 3, these contracts met the required criteria to be designated as cash flow hedging instruments. As a result, approximately $3.2 million was reclassified from “Accumulated other comprehensive loss” in the Consolidated Balance Sheets to “Interest and Other Financing Costs, net” in the Consolidated Statements of Income during fiscal 2013. | ||||||||||||||||||||||||||
The Company previously entered into $2.4 billion notional amount of interest rate swap agreements, fixing the rate on a like amount of variable rate borrowings. As a result of the 2014 Amendment Agreement, the Company de-designated the interest rate swap agreements as the terms of the interest rate swaps did not match the terms of the new term loans. Prior to the 2014 Amendment Agreement, these agreements met the required criteria to be designated as cash flow hedging instruments. As a result of the de-designation, the mark-to-market values of the Company’s cash flow hedges included in Accumulated Other Comprehensive Loss, which was approximately $22.8 million of unrealized net of tax losses, were frozen as of the de-designation date and will be reclassified into earnings as the underlying hedged transactions affect earnings. In February 2014, the Company amended the interest rate swap agreements to match the terms of the new term loans under the 2014 Amendment Agreement to meet the criteria to be designated as cash flow hedging instruments. Subsequent to March 28, 2014, the Company entered into an additional $500 million notional amount of forward starting interest rate swap agreements. Changes in the fair value of a derivative that is designated as and meets all the required criteria for a cash flow hedge are recorded in accumulated other comprehensive income (loss) and reclassified into earnings as the underlying hedged item affects earnings. As of March 28, 2014 and September 27, 2013, approximately ($16.6) million and ($20.5) million of unrealized net of tax losses related to the interest rate swaps were included in “Accumulated other comprehensive loss,” respectively. The hedge ineffectiveness for these cash flow hedging instruments during the six months ended March 28, 2014 and March 29, 2013 was not material. | The following table summarizes the net of tax effect of our derivatives designated as cash flow hedging instruments on Comprehensive Income (in thousands): | |||||||||||||||||||||||||
The Company previously entered into a $75.4 million amortizing cross currency swap to mitigate the risk of variability in principal and interest payments on the Canadian subsidiary’s variable rate debt denominated in U.S. dollars. During the second quarter of fiscal 2014, approximately $82.7 million of amortizing cross currency swaps matured. The agreement fixes the rate on the variable rate borrowings and mitigates changes in the Canadian dollar/U.S. dollar exchange rate. During the six months ended March 28, 2014 and March 29, 2013, approximately $7.6 million and $1.5 million of unrealized net of tax gains (losses) related to the swap were added to “Accumulated other comprehensive loss,” respectively. Approximately ($5.3) million and ($4.1) million were reclassified to offset net translation gains (losses) on the foreign currency denominated debt during the six months ended March 28, 2014 and March 29, 2013, respectively. As of March 28, 2014 and September 27, 2013, unrealized net of tax losses of approximately ($5.7) million and ($3.5) million related to the cross currency swap were included in “Accumulated other comprehensive loss,” respectively. The hedge ineffectiveness for this cash flow hedging instrument during the six months ended March 28, 2014 and March 29, 2013 was not material. | ||||||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||||||
As a result of Amendment Agreement No. 3, the Company de-designated the cross currency swap that hedged the Canadian subsidiary’s term loan with a maturity date of January 26, 2014. Prior to Amendment Agreement No. 3, these contracts met the required criteria to be designated as cash flow hedging instruments. As a result, approximately $3.2 million was reclassified from “Accumulated other comprehensive loss” in the Condensed Consolidated Balance Sheets to “Interest and Other Financing Costs, net” in the Condensed Consolidated Statements of Operations during the six months ended March 29, 2013. | Ended | Ended | Ended | |||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||||||
The following table summarizes the net of tax effect of our derivatives designated as cash flow hedging instruments on Comprehensive Income (Loss) (in thousands): | Interest rate swap agreements | $ | 7,598 | $ | 28,147 | $ | 58,082 | |||||||||||||||||||
Cross currency swap agreements | 1,514 | 5,580 | (1,956 | ) | ||||||||||||||||||||||
Natural gas hedge agreements | — | 113 | (21 | ) | ||||||||||||||||||||||
Gasoline and diesel fuel agreements | — | — | (1,232 | ) | ||||||||||||||||||||||
Three Months | Three Months | |||||||||||||||||||||||||
Ended | Ended | $ | 9,112 | $ | 33,840 | $ | 54,873 | |||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||||||
Interest rate swap agreements | $ | (1,857 | ) | $ | 3,166 | |||||||||||||||||||||
Cross currency swap agreements | (820 | ) | (700 | ) | Derivatives not Designated in Hedging Relationships | |||||||||||||||||||||
The Company elected to de-designate the cross currency swaps that were hedged against the Canadian subsidiary’s term loan with a maturity date of January 26, 2014 due to the repayment of the term loan as a result of Amendment Agreement No. 3. As a result, on a prospective basis, changes in the fair value of these swaps are recorded in earnings. For fiscal 2013, the Company recorded a pretax gain (loss) of approximately $3.0 million for the change in the fair value of these swaps in “Interest and Other Financing Costs, net” in the Consolidated Statements of Income. The changes in the fair value of these swaps are expected to offset future currency transaction gains and losses on a U.S. dollar denominated intercompany loan between the Company and its Canadian subsidiary. | ||||||||||||||||||||||||||
$ | (2,677 | ) | $ | 2,466 | The Company entered into a series of pay fixed/receive floating gasoline and diesel fuel agreements based on the Department of Energy weekly retail on-highway index in order to limit its exposure to price fluctuations for gasoline and diesel fuel. As of September 27, 2013, the Company has contracts for approximately 0.2 million gallons outstanding for fiscal 2014. Prior to October 1, 2011, all outstanding contracts were designated as cash flow hedging instruments; therefore, changes in the fair value of these contracts were recorded in accumulated other comprehensive income (loss) and reclassified into earnings as the underlying hedged item affects earnings. Beginning in first quarter of fiscal 2012, the Company no longer records its gasoline and diesel fuel agreements as hedges for accounting purposes. As a result, on a prospective basis, changes in the fair value of these contracts are recorded in earnings. Amounts previously recorded in accumulated other comprehensive income (loss) were reclassified into earnings as the underlying item affected earnings. During fiscal 2013 and fiscal 2012, the Company recorded a pretax gain (loss) of ($0.7) million and $0.7 million in the Consolidated Statements of Income for the change in the fair value on these agreements, respectively. The hedge ineffectiveness for the gasoline and diesel fuel hedging instruments for fiscal 2011 was immaterial. | |||||||||||||||||||||
As of September 27, 2013, the Company had foreign currency forward exchange contracts outstanding with notional amounts of €95.9 million, £45.8 million, kr.26.6 million and CAD16.0 million to mitigate the risk of changes in foreign currency exchange rates on short-term intercompany loans to certain international subsidiaries. Gains and losses on these foreign currency exchange contracts are recognized in income as the contracts were not designated as hedging instruments, substantially offsetting currency transaction gains and losses on the short term intercompany loans. | ||||||||||||||||||||||||||
The following table summarizes the location and fair value, using Level 2 inputs, of the Company’s derivatives designated and not designated as hedging instruments in the Consolidated Balance Sheets (in thousands): | ||||||||||||||||||||||||||
Six Months | Six Months | Balance Sheet Location | September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||
Ended | Ended | ASSETS | ||||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | Not designated as hedging instruments: | ||||||||||||||||||||||||
Interest rate swap agreements | $ | 3,926 | $ | 6,298 | Foreign currency forward exchange contracts | Prepayments | $ | — | $ | 251 | ||||||||||||||||
Cross currency swap agreements | (2,267 | ) | 2,645 | Gasoline and diesel fuel agreements | Prepayments | 37 | 696 | |||||||||||||||||||
$ | 1,659 | $ | 8,943 | $ | 37 | $ | 947 | |||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||
Derivatives not Designated in Hedging Relationships | Designated as hedging instruments: | |||||||||||||||||||||||||
Interest rate swap agreements | Accrued Expenses | $ | 3,494 | $ | — | |||||||||||||||||||||
In fiscal 2013, the Company elected to de-designate the cross currency swaps as a result of Amendment Agreement No. 3. As a result, changes in the fair value of these swaps are recorded in earnings. For the three and six months ended March 28, 2014, the Company recorded a pretax gain (loss) of approximately $3.6 million and $5.8 million for the change in the fair value of these swaps in “Interest and Other Financing Costs, net” in the Condensed Consolidated Statements of Operations, respectively. For the three and six months ended March 29, 2013, the Company recorded a pretax gain (loss) of approximately $1.5 million and $2.2 million for the change in the fair value of these swaps in “Interest and Other Financing Costs, net” in the Condensed Consolidated Statements of Operations, respectively. | Interest rate swap agreements | Other Noncurrent Liabilities | 30,431 | 46,484 | ||||||||||||||||||||||
Cross currency swap agreements | Other Noncurrent Liabilities | 16,129 | 45,406 | |||||||||||||||||||||||
50,054 | 91,890 | |||||||||||||||||||||||||
The Company entered into a series of pay fixed/receive floating gasoline and diesel fuel agreements based on the Department of Energy weekly retail on-highway index in order to limit its exposure to price fluctuations for gasoline and diesel fuel. During fiscal 2014, the Company has entered into contracts for approximately 4.9 million gallons. As of March 28, 2014, the Company has contracts for approximately 3.4 million gallons outstanding for fiscal 2014 and fiscal 2015. The Company does not record its gasoline and diesel fuel agreements as hedges for accounting purposes. As such, changes in the fair value of these contracts are recorded in earnings. The impact on earnings related to the change in fair value of these contracts for the three and six month periods of fiscal 2014 and fiscal 2013 were not material. | ||||||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
As of March 28, 2014, the Company had foreign currency forward exchange contracts outstanding with notional amounts of €28.7 million, £8.2 million and CAD43.8 million to mitigate the risk of changes in foreign currency exchange rates on intercompany loans to certain international subsidiaries. Gains and losses on these foreign currency exchange contracts are recognized in income currently as the contracts were not designated as hedging instruments, substantially offsetting currency transaction gains and losses on the intercompany loans. | Foreign currency forward exchange contracts | Accounts Payable | 366 | — | ||||||||||||||||||||||
Cross currency swap agreements | Accrued Expenses | 12,818 | — | |||||||||||||||||||||||
The Company’s interest rate swap agreements are subject to master netting arrangements, which serve as credit mitigants to both the Company and its counterparties under certain situations. The Company presents the net asset or liability position of its derivative fair values on the Condensed Consolidated Balance Sheets. The following table summarizes the location and fair value, using Level 2 inputs, of the Company’s derivatives designated and not designated as hedging instruments in our Condensed Consolidated Balance Sheets (in thousands): | ||||||||||||||||||||||||||
$ | 63,238 | $ | 91,890 | |||||||||||||||||||||||
Balance Sheet Location | March 28, 2014 | September 27, 2013 | The following table summarizes the location of (gain) loss reclassified from “Accumulated other comprehensive loss” into earnings for derivatives designated as hedging instruments and the location of (gain) loss for our derivatives not designated as hedging instruments in the Consolidated Statements of Income (in thousands): | |||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
Gasoline and diesel fuel agreements | Prepayments | 118 | 37 | Account | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||||||
$ | 118 | $ | 37 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||
Designated as hedging instruments: | ||||||||||||||||||||||||||
LIABILITIES | Interest rate swap agreements | Interest Expense | $ | 23,479 | $ | 66,260 | $ | 123,739 | ||||||||||||||||||
Designated as hedging instruments: | Cross currency swap agreements | Interest Expense | 4,090 | 8,077 | 8,960 | |||||||||||||||||||||
Interest rate swap agreements | Accrued Expenses | $ | — | $ | 3,494 | Natural gas hedge agreements | Cost of services provided | — | 396 | 158 | ||||||||||||||||
Interest rate swap agreements | Other Noncurrent Liabilities | 27,139 | 30,431 | Gasoline and diesel fuel agreements | Cost of services provided | — | — | (2,289 | ) | |||||||||||||||||
Cross currency swap agreements | Other Noncurrent Liabilities | 9,266 | 16,129 | |||||||||||||||||||||||
$ | 27,569 | $ | 74,733 | $ | 130,568 | |||||||||||||||||||||
36,405 | 50,054 | |||||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
Not designated as hedging instruments: | Cross currency swap agreements | Interest Expense | $ | 181 | $ | — | $ | — | ||||||||||||||||||
Foreign currency forward exchange contracts | Accounts Payable | 346 | 366 | Gasoline and diesel fuel agreements | Cost of services provided | 7 | 24 | — | ||||||||||||||||||
Cross currency swap agreements | Accrued Expenses | — | 12,818 | Foreign currency forward exchange contracts | Interest Expense | 2,697 | (265 | ) | (1,586 | ) | ||||||||||||||||
$ | 36,751 | $ | 63,238 | 2,885 | (241 | ) | (1,586 | ) | ||||||||||||||||||
$ | 30,454 | $ | 74,492 | $ | 128,982 | |||||||||||||||||||||
As part of the 2007 Transaction, the Company entered into a Japanese yen denominated term loan in the amount of ¥5,422 million (see Note 6). The term loan was designated as a hedge of the Company’s net Japanese currency exposure represented by the equity investment in our Japanese affiliate, AIM Services Co., Ltd. | ||||||||||||||||||||||||||
The following table summarizes the location of (gain) loss reclassified from “Accumulated other comprehensive loss” into earnings for derivatives designated as hedging instruments and the location of (gain) loss from the derivatives not designated as hedging instruments in the Condensed Consolidated Statements of Operations (in thousands): | At September 27, 2013, the net of tax loss expected to be reclassified from “Accumulated other comprehensive loss” into earnings over the next twelve months based on current market rates is approximately $17.0 million. | |||||||||||||||||||||||||
Account | Three Months | Three Months | ||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||||||
Designated as hedging instruments: | ||||||||||||||||||||||||||
Interest rate swap agreements | Interest Expense | $ | 6,989 | $ | 5,668 | |||||||||||||||||||||
Cross currency swap agreements | Interest Expense | (2,209 | ) | 1,009 | ||||||||||||||||||||||
$ | 4,780 | $ | 6,677 | |||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
Cross currency swap agreements | Interest Expense | $ | (3,465 | ) | $ | (1,513 | ) | |||||||||||||||||||
Gasoline and diesel fuel agreements | Cost of services provided | 220 | (253 | ) | ||||||||||||||||||||||
Foreign currency forward exchange contracts | Interest Expense | 1,148 | (6,882 | ) | ||||||||||||||||||||||
$ | (2,097 | ) | $ | (8,648 | ) | |||||||||||||||||||||
Account | Six Months | Six Months | ||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||||||
Designated as hedging instruments: | ||||||||||||||||||||||||||
Interest rate swap agreements | Interest Expense | $ | 16,183 | $ | 11,210 | |||||||||||||||||||||
Cross currency swap agreements | Interest Expense | (4,824 | ) | 3,006 | ||||||||||||||||||||||
$ | 11,359 | $ | 14,216 | |||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
Cross currency swap agreements | Interest Expense | $ | (5,111 | ) | $ | 1,021 | ||||||||||||||||||||
Gasoline and diesel fuel agreements | Cost of services provided | (136 | ) | (131 | ) | |||||||||||||||||||||
Foreign currency forward exchange contracts | Interest Expense | 4,285 | (6,042 | ) | ||||||||||||||||||||||
$ | (962 | ) | $ | (5,152 | ) | |||||||||||||||||||||
At March 28, 2014, the net of tax loss expected to be reclassified from “Accumulated other comprehensive loss” into earnings over the next twelve months based on current market rates is approximately $17.2 million. |
EMPLOYEE_PENSION_AND_PROFIT_SH
EMPLOYEE PENSION AND PROFIT SHARING PLANS | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 27, 2013 | |||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
EMPLOYEE PENSION AND PROFIT SHARING PLANS | ' | ||||||||||||||||||||||||||
NOTE 8. EMPLOYEE PENSION AND PROFIT SHARING PLANS: | |||||||||||||||||||||||||||
In the United States, the Company maintains qualified contributory and non-contributory defined contribution retirement plans for eligible employees, with Company contributions to the plans based on earnings performance or salary level. The Company also has a non-qualified retirement savings plan for certain employees. The total expense of the above plans for fiscal 2013, fiscal 2012 and fiscal 2011 was $32.4 million, $29.5 million and $31.5 million, respectively. The Company also maintains similar contributory and non-contributory defined contribution retirement plans at several of its international operations. The total expense of these international plans for fiscal 2013, fiscal 2012 and fiscal 2011 was $8.5 million, $5.0 million and $5.7 million, respectively. Additionally, the Company maintains several contributory and non-contributory defined benefit pension plans, primarily in Canada and the United Kingdom. | |||||||||||||||||||||||||||
The following table sets forth the components of net periodic pension cost for the Company’s single-employer defined benefit pension plans for fiscal 2013, fiscal 2012 and fiscal 2011 (in thousands): | |||||||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||||||||||
Ended | Ended | Ended | |||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||||||||||||||||
Service cost | $ | 11,045 | $ | 9,961 | $ | 10,310 | |||||||||||||||||||||
Interest cost | 12,693 | 13,001 | 13,086 | ||||||||||||||||||||||||
Expected return on plan assets | (14,256 | ) | (12,521 | ) | (12,738 | ) | |||||||||||||||||||||
Settlements | 308 | 467 | 704 | ||||||||||||||||||||||||
Amortization of prior service cost | 119 | 6 | 6 | ||||||||||||||||||||||||
Recognized net (gain) loss | 3,436 | 2,392 | 1,608 | ||||||||||||||||||||||||
Net periodic pension cost | $ | 13,345 | $ | 13,306 | $ | 12,976 | |||||||||||||||||||||
The following table sets forth changes in the projected benefit obligation and the fair value of plan assets for these plans (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||
Benefit obligation, beginning | $ | 306,810 | $ | 244,754 | |||||||||||||||||||||||
Foreign currency translation | (7,641 | ) | 14,056 | ||||||||||||||||||||||||
Service cost | 11,045 | 9,961 | |||||||||||||||||||||||||
Interest cost | 12,693 | 13,001 | |||||||||||||||||||||||||
Employee contributions | 2,954 | 3,565 | |||||||||||||||||||||||||
Actuarial loss (gain) | (12,958 | ) | 34,227 | ||||||||||||||||||||||||
Benefits paid | (15,172 | ) | (11,699 | ) | |||||||||||||||||||||||
Settlements and curtailments | (1,342 | ) | (1,055 | ) | |||||||||||||||||||||||
Benefit obligation, end | $ | 296,389 | $ | 306,810 | |||||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||
Fair value of plan assets, beginning | $ | 222,272 | $ | 178,587 | |||||||||||||||||||||||
Foreign currency translation | (5,359 | ) | 9,866 | ||||||||||||||||||||||||
Employer contributions | 19,731 | 20,558 | |||||||||||||||||||||||||
Employee contributions | 2,954 | 3,565 | |||||||||||||||||||||||||
Actual return on plan assets | 25,890 | 22,601 | |||||||||||||||||||||||||
Benefits paid | (15,172 | ) | (11,699 | ) | |||||||||||||||||||||||
Settlements | (1,637 | ) | (1,206 | ) | |||||||||||||||||||||||
Fair value of plan assets, end | $ | 248,679 | $ | 222,272 | |||||||||||||||||||||||
Funded Status at end of year | $ | (47,710 | ) | $ | (84,538 | ) | |||||||||||||||||||||
Amounts recognized in the Consolidated Balance Sheets consist of the following (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Current benefit liability (included in Accrued expenses and other current liabilities) | $ | (924 | ) | $ | (484 | ) | |||||||||||||||||||||
Noncurrent benefit liability (included in Other Noncurrent Liabilities) | $ | (46,786 | ) | $ | (84,054 | ) | |||||||||||||||||||||
Net actuarial loss (gain) (included in Accumulated other comprehensive (income) loss before taxes) | $ | 47,456 | $ | 77,391 | |||||||||||||||||||||||
Prior service cost (included in Accumulated other comprehensive (income) loss before taxes) | $ | 44 | $ | 52 | |||||||||||||||||||||||
The settlements in both fiscal years primarily relate to the lump sum payments made to employees in the Company’s Korean pension plan. | |||||||||||||||||||||||||||
The following weighted average assumptions were used to determine pension expense of the respective fiscal years: | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Discount rate | 4.2 | % | 5 | % | |||||||||||||||||||||||
Rate of compensation increase | 3.4 | % | 3.5 | % | |||||||||||||||||||||||
Long-term rate of return on assets | 6.7 | % | 6.6 | % | |||||||||||||||||||||||
The following weighted average assumptions were used to determine the funded status of the respective fiscal years: | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Discount rate | 4.6 | % | 4.2 | % | |||||||||||||||||||||||
Rate of compensation increase | 3.3 | % | 3.4 | % | |||||||||||||||||||||||
Assumptions are adjusted annually, as necessary, based on prevailing market conditions and actual experience. | |||||||||||||||||||||||||||
The accumulated benefit obligation as of September 27, 2013 was $273.8 million. During fiscal 2013, actuarial gains of approximately $24.2 million were recognized in other comprehensive income (loss) (before taxes) and $3.4 million of amortization of actuarial losses was recognized as net periodic pension cost during such period. The estimated portion of net actuarial loss included in accumulated other comprehensive loss as of September 27, 2013 expected to be recognized in net periodic pension cost during fiscal 2014 is approximately $1.0 million (before taxes). | |||||||||||||||||||||||||||
The accumulated benefit obligation as of September 28, 2012 was $279.4 million. During fiscal 2012, actuarial losses of approximately $22.8 million and settlement gains of $0.3 million were recognized in other comprehensive income (loss) (before taxes) and $0.6 million of amortization of actuarial losses was recognized as net periodic pension cost during such period. The estimated portion of net actuarial loss included in accumulated other comprehensive loss as of September 28, 2012 expected to be recognized in net periodic pension cost during fiscal 2013 approximately $3.6 million (before taxes). | |||||||||||||||||||||||||||
The following table sets forth information for the Company’s single-employer pension plans with an accumulated benefit obligation in excess of plan assets as of September 27, 2013 and September 28, 2012 (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 166,798 | $ | 302,072 | |||||||||||||||||||||||
Accumulated benefit obligation | 160,798 | 274,701 | |||||||||||||||||||||||||
Fair value of plan assets | 131,392 | 217,044 | |||||||||||||||||||||||||
Assets of the plans are invested with the goal of principal preservation and enhancement over the long-term. The primary goal is total return, consistent with prudent investment management. The Company’s investment policies also require an appropriate level of diversification across the asset categories. The current overall capital structure and targeted ranges for asset classes are 50-70% invested in equity securities and 30-50% invested in debt securities. Performance of the plans is monitored on a regular basis and adjustments of the asset allocations are made when deemed necessary. | |||||||||||||||||||||||||||
The weighted-average long-term rate of return on assets has been determined based on an estimated weighted-average of long-term returns of major asset classes, taking into account historical performance of plan assets, the current interest rate environment, plan demographics, acceptable risk levels and the estimated value of active asset management. | |||||||||||||||||||||||||||
The fair value of plan assets for the Company’s defined benefit pension plans as of September 27, 2013 and September 28, 2012 is as follows (see Note 15 for a description of the fair value levels) (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||||
active markets | observable inputs | unobservable inputs | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Cash and cash equivalents and other | $ | 2,394 | $ | 2,394 | $ | — | $ | — | |||||||||||||||||||
Investment funds: | |||||||||||||||||||||||||||
Pooled funds—equity | 157,372 | — | 157,372 | — | |||||||||||||||||||||||
Pooled funds—fixed income | 88,913 | — | 88,913 | — | |||||||||||||||||||||||
Total | $ | 248,679 | $ | 2,394 | $ | 246,285 | $ | — | |||||||||||||||||||
28-Sep-12 | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||||
active markets | observable inputs | unobservable inputs | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Cash and cash equivalents and other | $ | 2,042 | $ | 2,042 | $ | — | $ | — | |||||||||||||||||||
Investment funds: | |||||||||||||||||||||||||||
Pooled funds—equity | 141,784 | — | 141,784 | — | |||||||||||||||||||||||
Pooled funds—fixed income | 78,446 | — | 78,446 | — | |||||||||||||||||||||||
Total | $ | 222,272 | $ | 2,042 | $ | 220,230 | $ | — | |||||||||||||||||||
The fair value of the pooled separate accounts is based on the value of the underlying assets, as reported to the Plan by the trustees. The pooled separate account is comprised of a portfolio of underlying securities that can be valued on active markets. Fair value is calculated by applying the Plan’s percentage ownership in the pooled separate account to the total market value of the account’s underlying securities, and is therefore categorized as Level 2 as the Plan does not directly own shares in these underlying investments. Investments in equity securities include publicly-traded domestic (approximately 33%) and international (approximately 67%) companies that are diversified across industry, country and stock market capitalization. Investments in fixed income securities include domestic (approximately 10%) and international (approximately 90%) corporate bonds and government securities. Cash and cash equivalents include direct cash holdings, which are valued based on cost, and short-term deposits and investments in money market funds for which fair value measurements are all based on quoted prices for similar assets or liabilities in markets that are not active. | |||||||||||||||||||||||||||
It is the Company’s policy to fund at least the minimum required contributions as outlined in the required statutory actuarial valuation for each plan. The following table sets forth the benefits expected to be paid in the next five fiscal years and in aggregate for the five fiscal years thereafter by the Company’s defined benefit pension plans (in thousands): | |||||||||||||||||||||||||||
Fiscal 2014 | $ | 12,218 | |||||||||||||||||||||||||
Fiscal 2015 | $ | 11,423 | |||||||||||||||||||||||||
Fiscal 2016 | $ | 11,899 | |||||||||||||||||||||||||
Fiscal 2017 | $ | 12,488 | |||||||||||||||||||||||||
Fiscal 2018 | $ | 13,010 | |||||||||||||||||||||||||
Fiscal 2019 – 2023 | $ | 69,358 | |||||||||||||||||||||||||
The estimated benefit payments above are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates. | |||||||||||||||||||||||||||
The expected contributions to be paid to the Company’s defined benefit pension plans during fiscal 2014 are approximately $25.8 million. | |||||||||||||||||||||||||||
Multiemployer Defined Benefit Pension Plans | |||||||||||||||||||||||||||
The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements (“CBA”) that cover its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans in the following respects: | |||||||||||||||||||||||||||
a. Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. | |||||||||||||||||||||||||||
b. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. | |||||||||||||||||||||||||||
c. If the Company chooses to stop participating in some of its multiemployer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. | |||||||||||||||||||||||||||
The Company’s participation in these plans for fiscal 2013 is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employee Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2013 and 2012 is for the plans’ two most recent fiscal year-ends. The zone status is based on information that the Company received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date(s) of the CBA(s) to which the plans are subject. There have been no significant changes that affect the comparability of fiscal 2013, fiscal 2012 and fiscal 2011 contributions. | |||||||||||||||||||||||||||
Pension | EIN/Pension | Pension Protection | FIP/RP | Contributions by the Company | Surcharge | Range of | |||||||||||||||||||||
Fund | Plan | Act Zone Status | Status | (in thousands) | Imposed | Expiration | |||||||||||||||||||||
Number | Pending/ | Dates of | |||||||||||||||||||||||||
2013 | 2012 | Implemented | 2013 | 2012 | 2011 | CBAs | |||||||||||||||||||||
National Retirement Fund | 13-6130178/ 001 | Red | Red | Implemented | $ | 6,011 | $ | 4,868 | $ | 5,367 | No | 1/15/2012- | |||||||||||||||
9/30/16 | |||||||||||||||||||||||||||
Service Employees Pension Fund of Upstate New York(1) | 16-0908576/ 001 | Red | Red | Implemented | 360 | 247 | 385 | No | 9/30/2014- | ||||||||||||||||||
6/30/15 | |||||||||||||||||||||||||||
Local 1102 Retirement Trust(2) | 13-1847329/ 001 | Red | Red | Implemented | 275 | 201 | 232 | No | 6/30/2013- | ||||||||||||||||||
6/30/15 | |||||||||||||||||||||||||||
Central States SE and SW Areas Pension Plan | 36-6044243/ 001 | Red | Red | Implemented | 3,415 | 3,164 | 2,869 | No | 1/31/2007- | ||||||||||||||||||
11/26/15 | |||||||||||||||||||||||||||
Pension Plan for Hospital & Health Care Employees Philadelphia & Vicinity | 23-2627428/ 001 | Red | Red | Implemented | 161 | 154 | 122 | No | 1/31/18 | ||||||||||||||||||
Richmond Teamsters and Industry Pension Fund(3) | 54-6056180/ 001 | N/A | Green | N/A | 154 | 121 | 109 | No | N/A | ||||||||||||||||||
Retail, Wholesale and Department Store International Union and Industry Pension Fund | 63-0708442/001 | Green | Green | N/A | 306 | 292 | 292 | No | 1/31/2011- | ||||||||||||||||||
1/29/18 | |||||||||||||||||||||||||||
Local 731 IBT Textile Maintenance and Laundry Craft Pension Fund | 51-6051697/001 | Red | Red | Implemented | 453 | 384 | 350 | No | 5/1/12 | ||||||||||||||||||
SEIU National Industry Pension Fund | 52-6148540/001 | Red | Red | Implemented | 173 | 280 | 229 | No | 4/14/16 | ||||||||||||||||||
Automotive Industries Pension Plan | 94-1133245/001 | Red | Red | Implemented | 28 | 27 | 27 | No | 5/31/14 | ||||||||||||||||||
Laundry Dry Cleaning Workers & Allied Industries Retirement Fund Workers United (4) | 13-5521921/001 | Green | Green | N/A | 221 | 169 | 116 | No | 10/10/2011- | ||||||||||||||||||
2/26/16 | |||||||||||||||||||||||||||
Other funds | 12,706 | 12,394 | 11,771 | ||||||||||||||||||||||||
Total contributions | $ | 24,263 | $ | 22,301 | $ | 21,869 | |||||||||||||||||||||
-1 | Over 60% of the Company’s participants in this fund are covered by a single CBA that expires on 6/30/2015. | ||||||||||||||||||||||||||
-2 | Over 90% of the Company’s participants in this fund are covered by a single CBA that expires on 6/30/2015. | ||||||||||||||||||||||||||
-3 | During fiscal 2013, the Company negotiated with a union to discontinue its participation in this fund. | ||||||||||||||||||||||||||
-4 | Over 75% of the Company’s participants in this fund are covered by a single CBA that expires on 1/26/2016. | ||||||||||||||||||||||||||
The Company provided more than 5 percent of the total contributions for the following plans and plan years: | |||||||||||||||||||||||||||
Pension | Contributions to the plan | ||||||||||||||||||||||||||
Fund | exceeded more than 5% | ||||||||||||||||||||||||||
of total contributions | |||||||||||||||||||||||||||
(as of the plan’s year-end) | |||||||||||||||||||||||||||
Local 1102 Retirement Trust | December 31, 2012, | ||||||||||||||||||||||||||
2011 and 2010 | |||||||||||||||||||||||||||
Service Employees Pension Fund of Upstate New York | December 31, 2012, | ||||||||||||||||||||||||||
2011 and 2010 | |||||||||||||||||||||||||||
Local 731 IBT Textile Maintenance and Laundry Craft Pension Fund | March 31, 2013, 2012 | ||||||||||||||||||||||||||
and 2011 | |||||||||||||||||||||||||||
Laundry Dry Cleaning Workers & Allied Industries Retirement Fund Workers United | December 31, 2012, | ||||||||||||||||||||||||||
2011 and 2010 | |||||||||||||||||||||||||||
During fiscal 2013, the Company reached an agreement with the New England Teamsters and Trucking Industry Pension Fund (“New England Pension Fund”), a multiemployer pension plan in which the Company is a participant, to restructure the pension liabilities. As part of this agreement, the Company agreed to withdraw from the original pool of the New England Pension Fund of which it had historically been a participant, and reenter the New England Pension Fund’s newly-established pool as a new employer. As a result of withdrawing from the original pool, the Company recorded a charge of approximately $2.4 million, which represents the present value of the future payment obligations. | |||||||||||||||||||||||||||
At the date the Company’s financial statements were issued, Forms 5500 were not available for the plan years ending in 2013. |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
INCOME TAXES | ' | ||||||||||||
NOTE 9. INCOME TAXES: | |||||||||||||
The Company accounts for income taxes using the asset and liability method. Under this method, the provision for income taxes represents income taxes payable or refundable for the current year plus the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax bases of the Company’s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Interest and penalties related to income tax matters are included in the provision for income taxes. | |||||||||||||
The components of income from continuing operations before income taxes by source of income are as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
United States | $ | 18,557 | $ | 34,498 | $ | (16,162 | ) | ||||||
Non-U.S. | 72,072 | 90,470 | 112,131 | ||||||||||
$ | 90,629 | $ | 124,968 | $ | 95,969 | ||||||||
The provision (benefit) for income taxes consists of (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 2,740 | $ | 45,173 | $ | (1,493 | ) | ||||||
State and local | 126 | 7,205 | 8,494 | ||||||||||
Non-U.S. | 34,158 | 32,301 | 34,356 | ||||||||||
$ | 37,024 | $ | 84,679 | $ | 41,357 | ||||||||
Deferred: | |||||||||||||
Federal | $ | (1,007 | ) | $ | (42,515 | ) | $ | (22,885 | ) | ||||
State and local | (656 | ) | (11,189 | ) | (8,946 | ) | |||||||
Non-U.S. | (16,128 | ) | (12,909 | ) | (10,260 | ) | |||||||
(17,791 | ) | (66,613 | ) | (42,091 | ) | ||||||||
$ | 19,233 | $ | 18,066 | $ | (734 | ) | |||||||
Current taxes receivable of $44.6 million and $3.1 million at September 27, 2013 and September 28, 2012, respectively, are included in “Prepayments and other current assets.” | |||||||||||||
The provision for income taxes varies from the amount determined by applying the United States Federal statutory rate to pretax income as a result of the following (all percentages are as a percentage of pretax income): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
United States statutory income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increase (decrease) resulting from: | |||||||||||||
State income taxes, net of Federal tax benefit | 1 | 0.5 | 2.1 | ||||||||||
Foreign taxes | (2.2 | ) | (9.8 | ) | (10.7 | ) | |||||||
Permanent book/tax differences | 1.8 | (0.6 | ) | 1.2 | |||||||||
Uncertain tax positions | (1.6 | ) | (1.8 | ) | (17.7 | ) | |||||||
Tax credits & other | (12.8 | ) | (8.8 | ) | (10.7 | ) | |||||||
Effective income tax rate | 21.2 | % | 14.5 | % | (0.8 | )% | |||||||
The effective tax rate is based on expected income, statutory tax rates and tax planning opportunities available to the Company in the various jurisdictions in which it operates. Judgment is required in determining the effective tax rate and in evaluating the Company’s tax positions. The Company establishes reserves when, despite the belief that the Company’s tax return positions are supportable, the Company believes that certain positions are likely to be challenged and that the Company may not succeed. The Company adjusts these reserves in light of changing facts and circumstances, such as the progress of a tax audit. The effective tax rate includes the impact of reserve provisions and changes to the reserve that the Company considers appropriate, as well as related interest and penalties. During fiscal 2011, the Company recorded a reduction of approximately $17.0 million related to the remeasurement of an uncertain tax position. The American Taxpayer Relief Act (the “Act”) was enacted on January 3, 2013. Under the Act, the Work Opportunity Tax Credit was extended until December 31, 2013. | |||||||||||||
A number of years may elapse before a particular tax reporting year is audited and finally resolved. The number of years with open tax audits varies depending on the tax jurisdiction. In the United States, the statutes for state income taxes for 2002 and forward remain open. The Company received final notification in November 2012 that the Internal Revenue Service has settled the 2007 and 2008 examinations of the Company’s tax returns. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, the Company believes that its income tax accruals reflect the probable outcome of known tax contingencies. Unfavorable settlement of any particular issue would require use of the Company’s cash. | |||||||||||||
As of September 27, 2013, certain subsidiaries have recorded deferred tax assets of $21.0 million associated with accumulated federal, state and foreign net operating loss carryforwards. The Company has approximately a $10.3 million valuation allowance as of September 27, 2013 against these deferred tax assets due to the uncertainty of its realization. In addition, certain subsidiaries have accumulated state net operating loss carryforwards for which no benefit has been recorded as they are attributable to uncertain tax positions. The unrecognized tax benefits, as of September 27, 2013, attributable to these net operating losses was approximately $5.7 million. Due to the uncertain tax position, these net operating losses are not included as components of deferred tax assets as of September 27, 2013. The federal, state and foreign net operating loss carryforwards will expire from 2014 through 2033. | |||||||||||||
As of September 27, 2013, the Company has approximately $16.2 million of general business and foreign tax credit carryforwards, which expire in 2033 and 2023, respectively. The Company believes it is more likely than not that it will be able to generate taxable income in the future sufficient to utilize these carryforwards, and no valuation allowance is necessary. The Company does not currently hold significant or excessive cash balances at any of its foreign operations and does not consider any of its unremitted earnings to be permanently reinvested. Therefore, the Company has provided a deferred tax liability for incremental U.S. taxes on all unremitted earnings. | |||||||||||||
As of September 27, 2013 and September 28, 2012, the components of deferred taxes are as follows (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment | $ | 71,425 | $ | 82,627 | |||||||||
Investments | 43,527 | 95,445 | |||||||||||
Other intangible assets, including goodwill | 700,526 | 717,583 | |||||||||||
Inventory and other | 70,037 | 13,095 | |||||||||||
Gross deferred tax liability | 885,515 | 908,750 | |||||||||||
Deferred tax assets: | |||||||||||||
Insurance | 36,458 | 41,443 | |||||||||||
Employee compensation and benefits | 218,491 | 214,847 | |||||||||||
Accruals and allowances | 37,876 | 43,781 | |||||||||||
Derivatives | 18,449 | 31,879 | |||||||||||
Net operating loss/credit carryforwards and other | 37,264 | 37,509 | |||||||||||
Gross deferred tax asset, before valuation allowances | 348,538 | 369,459 | |||||||||||
Valuation allowances | (10,263 | ) | (15,187 | ) | |||||||||
Net deferred tax liability | $ | 547,240 | $ | 554,478 | |||||||||
Current deferred tax assets of $42.7 million and $77.9 million at September 27, 2013 and September 28, 2012 are included in “Prepayments and other current assets,” respectively. Deferred tax liabilities of $589.9 million and $632.3 million at September 27, 2013 and September 28, 2012 are included in “Deferred Income Taxes and Other Noncurrent Liabilities,” respectively. The increase in the Company’s inventory and other deferred tax liabilities relates to the change in tax regulations impacting the timing of allowable deductions for certain in service inventory. | |||||||||||||
The Company had approximately $27.3 million of total gross unrecognized tax benefits as of September 27, 2013, all of which, if recognized, would impact the effective tax rate. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits follows (in thousands): | |||||||||||||
September 27, 2013 | |||||||||||||
Gross unrecognized tax benefits at September 28, 2012 | $ | 31,977 | |||||||||||
Additions based on tax positions taken in the current year | 2,342 | ||||||||||||
Reductions for tax positions taken in prior years | (1,123 | ) | |||||||||||
Reductions for remeasurements, settlements and payments | (3,919 | ) | |||||||||||
Reductions due to statute expiration | (1,940 | ) | |||||||||||
Gross unrecognized tax benefits at September 27, 2013 | $ | 27,337 | |||||||||||
September 28, 2012 | |||||||||||||
Gross unrecognized tax benefits at September 30, 2011 | $ | 34,040 | |||||||||||
Additions based on tax positions taken in the current year | 2,304 | ||||||||||||
Additions for tax positions taken in prior years | (254 | ) | |||||||||||
Reductions for remeasurements, settlements and payments | (3,306 | ) | |||||||||||
Reductions due to statute expiration | (807 | ) | |||||||||||
Gross unrecognized tax benefits at September 28, 2012 | $ | 31,977 | |||||||||||
The Company had approximately $7.0 million and $8.4 million accrued for interest and penalties as of September 27, 2013 and September 28, 2012, respectively, and recorded approximately ($0.3) million and ($1.0) million in interest and penalties during fiscal 2013 and fiscal 2012, respectively. | |||||||||||||
The Company is subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. The Company has substantially concluded all U.S. federal income tax matters for years through 2009, with the exception of certain Work Opportunity Tax Credits and Welfare to Work Tax Credits which are pending the outcome of Protective Refund Claims filed for 1998 through 2006. | |||||||||||||
The Company has significant operations in approximately 20 states and foreign taxing jurisdictions. The Company has open tax years in these jurisdictions ranging from 1 to 10 years. The Company does not anticipate that any adjustments resulting from tax audits would result in a material change to the results of operations or financial condition. | |||||||||||||
The Company does not expect the amount of unrecognized tax benefits to significantly change within the next 12 months. |
CAPITAL_STOCK
CAPITAL STOCK | 6 Months Ended | 12 Months Ended |
Mar. 28, 2014 | Sep. 27, 2013 | |
Text Block [Abstract] | ' | ' |
CAPITAL STOCK | ' | ' |
(8) CAPITAL STOCK: | NOTE 10. CAPITAL STOCK: | |
On December 17, 2013, the Company completed the IPO of 28,000,000 shares of its common stock at a price of $20.00 per share, raising approximately $524.1 million, net of costs directly related to the IPO. GS Capital Partners and J.P. Morgan Partners received approximately $6.5 million and $6.5 million, respectively, of underwriters’ discounts relating to the shares sold by the Company which were included in the costs directly related to the IPO. The Company used the net proceeds to repay borrowings on the senior secured revolving credit facility and a portion of the principal on the senior secured term loan facility (see Note 6). In addition, the Company paid cash bonuses and certain other expenses of approximately $5.0 million related to the IPO, which were included in the Condensed Consolidated Statements of Operations. | Pursuant to the Stockholders Agreement of the Company, upon termination of employment from the Company or one of its subsidiaries, members of the Company’s management (other than Mr. Neubauer) who hold shares of common stock of the Company can cause the Company to repurchase all of their initial investment shares (as defined) or shares acquired as a result of the exercise of Installment Stock Purchase Opportunities at appraised fair market value. Generally, payment for shares repurchased could be, at the Company’s option, in cash or installment notes, which would be effectively subordinated to all indebtedness of ARAMARK Corporation. The amount of this potential repurchase obligation has been classified outside of stockholders’ equity. The amount of common stock subject to repurchase as of September 27, 2013 and September 28, 2012 was $158.7 million and $167.5 million, which is based on approximately 9.4 million and 11.0 million shares of common stock of the Company valued at $16.88 and $15.17 per share, respectively. The fair value of the common stock subject to repurchase is calculated using discounted cash flow techniques and comparable public company trading multiples. Inputs used in the discounted cash flow analysis include the weighted average cost of capital, long-term revenue growth rates, long-term EBIT margins and residual growth rates. Inputs used in the comparable public company trading multiples include the last-twelve-months’ EBITDA multiple, forward EBITDA multiples and control premium. During fiscal 2013 and fiscal 2012, approximately $66.6 million and $67.3 million of common stock of the Company was repurchased, respectively, and has been reflected in the Company’s consolidated financial statements. The Stockholders Agreement, the senior secured credit agreement and the indenture governing the Senior Notes contain limitations on the amount the Company can expend for such share repurchases. | |
Prior to the IPO, pursuant to the Amended and Restated Stockholders Agreement of the Company, upon termination of employment from the Company or one of its subsidiaries, members of the Company’s management (other than Mr. Neubauer) who held shares of common stock could have caused the Company to repurchase all of their initial investment shares (as defined) or shares acquired as a result of the exercise of Installment Stock Purchase Opportunities at appraised fair market value. Generally, payment for shares repurchased could have been, at the Company’s option, in cash or installment notes, which would be effectively subordinated to all indebtedness of the Company. The amount of this potential repurchase obligation had been classified outside of stockholders’ equity. With the completion of the IPO, this provision was terminated. The amount of common stock subject to repurchase as of March 28, 2014 and September 27, 2013 was $0 and $158.7 million, respectively. | ||
During the three months ended March 28, 2014, the Company paid a dividend of approximately $17.3 million to its stockholders. On May 6, 2014, the Company’s Board declared a $0.075 dividend per share of common stock, payable on June 9, 2014, to shareholders of record on the close of business on May 19, 2014. |
SHAREBASED_COMPENSATION
SHARE-BASED COMPENSATION | 6 Months Ended | 12 Months Ended | ||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ||||||||||||||||
SHARE-BASED COMPENSATION | ' | ' | ||||||||||||||||
(9) SHARE-BASED COMPENSATION: | NOTE 11. SHARE-BASED COMPENSATION: | |||||||||||||||||
On November 12, 2013, the Board of Directors (the “Board”) approved, and the stockholders of Holdings adopted by written consent, the ARAMARK Holdings Corporation 2013 Stock Incentive Plan (the “2013 Stock Plan”), which became effective on December 1, 2013. The 2013 Stock Plan provides that the total number of shares of common stock that may be issued under the 2013 Stock Plan is 25,500,000. In connection with the adoption of the 2013 Stock Plan, the Board approved, and the stockholders of Holdings adopted by written consent, the Fifth Amended and Restated ARAMARK Holdings Corporation 2007 Management Stock Incentive Plan (the “Fifth Amended Stock Plan”) which amended certain terms of the 2007 Management Stock Incentive Plan (“2007 MSIP”) in contemplation of the IPO, including providing that no awards will be granted under the Fifth Amended Stock Plan shortly following the consummation of an initial public offering, as grants following the IPO are made under the 2013 Stock Plan. | In connection with the 2007 Transaction, the Company established the ARAMARK Holdings Corporation 2007 Management Stock Incentive Plan (the “2007 MSIP”). Incentive awards under the 2007 MSIP may be granted to employees or directors of, or consultants to, the Company or one of its affiliates in the form of non-qualified stock options, unvested shares of common stock, the opportunity to purchase shares of common stock and other awards that are valued in whole or in part by reference to, or are otherwise based on, the fair market value of the Company’s shares. The 2007 MSIP permits the granting of awards of up to 42.0 million shares of common stock of the Company. As of September 27, 2013, there were 11.7 million shares available for grant. | |||||||||||||||||
During the three and six months ended March 28, 2014, share-based compensation expense was approximately $27.6 million, before taxes of $10.8 million, and approximately $73.0 million, before taxes of $28.5 million, respectively. During the three and six months ended March 29, 2013, share-based compensation expense was approximately $4.8 million, before taxes of $1.9 million, and approximately $8.8 million, before taxes of $3.5 million, respectively. | On June 20, 2013, the Company adopted the Fourth Amended and Restated ARAMARK Holdings Corporation 2007 Management Stock Incentive Plan (the “Fourth Amended Stock Incentive Plan”). The Fourth Amended Stock Incentive Plan provides for the grant of restricted stock units and restricted stock in addition to stock options. The Company also approved a new form of non-qualified stock option award agreement which provides for 100% time-based vesting. Options granted under earlier forms of non-qualified discretionary stock option agreements provided for 50% time-based vesting and 50% performance-based vesting. Finally, the Company offered to holders of outstanding Installment Stock Purchase Opportunities (“ISPOs”) the ability to exchange such awards for restricted stock and non-qualified stock options, which were granted pursuant to a restricted stock award agreement and a replacement stock option award agreement, respectively, with the Company. On June 20, 2013, the Compensation and Human Resources Committee (the “Compensation Committee”) approved a new restricted stock award agreement and non-qualified replacement stock option award agreement to be used in connection with the exchange. The restricted stock award agreement provides for a grant of restricted stock under the Fourth Amended Stock Incentive Plan with a vesting schedule based upon the vesting schedule of the ISPO that is exchanged. The non-qualified replacement stock option award agreement is similar to the Time-Based Options discussed below, but the vesting schedule of the replacement stock option is based upon the vesting schedule of the ISPO that is exchanged. | |||||||||||||||||
Stock Options | Share-based compensation expense charged to expense for fiscal 2013, fiscal 2012 and fiscal 2011 was approximately $19.4 million, before taxes of approximately $7.6 million, approximately $15.7 million, before taxes of approximately $6.1 million, and approximately $17.3 million, before taxes of approximately $6.8 million, respectively. The compensation expense recognized is classified as “Selling and general corporate expenses” in the Consolidated Statements of Income. No compensation expense was capitalized. | |||||||||||||||||
Time-Based Options | Cash received from option exercises during fiscal 2013, fiscal 2012 and fiscal 2011 was $5.6 million, $6.7 million and $1.0 million, respectively. For fiscal 2013, fiscal 2012 and fiscal 2011, the amount of tax benefits included in “Other financing activities” in the Consolidated Statements of Cash Flows was $4.8 million, $4.5 million and $0.7 million, respectively. | |||||||||||||||||
The Company granted 1.9 million time-based options with a weighted-average grant-date fair value of $6.65 during the first quarter of fiscal 2014. The compensation cost charged to expense during the three and six months ended March 28, 2014 for time-based options was approximately $3.6 million and $6.8 million, respectively. The compensation cost charged to expense during the three and six months ended March 29, 2013 for time-based options was approximately $2.1 million and $4.0 million, respectively. | Stock Options | |||||||||||||||||
Performance-Based Options | Each award of stock options under the 2007 MSIP is comprised of two types of stock options. One-half of the options awarded vest solely based upon continued employment over a specific period of time, generally four years (“Time-Based Options”). One-half of the options awarded vest based both upon continued employment and upon the achievement of a level of earnings before interest and taxes (“EBIT”), as defined in the 2007 MSIP, over time, generally four years (“Performance-Based Options”). The Performance-Based Options may also vest in part or in full upon the occurrence of specific return-based events. The exercise price for Time-Based Options and Performance-Based Options equals the fair value of the Company’s stock on the date of the grant. All options remain exercisable for ten years from the date of grant. Due to the Fourth Amended Stock Incentive Plan, all option awards granted subsequent to June 20, 2013 will only be comprised of Time-Based Options. | |||||||||||||||||
On November 11, 2013, the Compensation Committee approved an amendment to all outstanding 2007 MSIP Option Agreements (the “Performance Option Amendment”) modifying the vesting provisions relating to outstanding performance-based options granted under the 2007 MSIP. The Performance Option Amendment provides that in the event of an initial public offering of Holdings, subject to continued employment on such date, 50% of any then-unvested performance-based options that did not meet applicable performance thresholds in prior years (the “Missed Year Options”) will become vested if the initial public offering price for the common stock of Holdings equals or exceeds $20.00 per share. In addition, during the 18 month period following the initial public offering, if the closing trading price for common stock of Holdings equals or exceeds $25.00 per share over any consecutive twenty day trading period, 100% of the Missed Year Options will become vested. There were a total of approximately 5.0 million Missed Year Options which fully vested in the second quarter of fiscal 2014 as all performance targets were met. The fair values of the Missed Year Options were valued at the award modification date using a Monte-Carlo option model, which simulates a range of possible future stock prices and estimates the probabilities of meeting the modified vesting provision of the trading price for the common stock of Holdings equaling or exceeding $25.00 per share over any consecutive twenty day trading period during the 18 month period following the initial public offering. The following weighted-average assumptions were used in estimating the fair value of the Missed Year Options: estimated volatility (30%), expected dividend yield (1.5%), expected life (3-8 years) and risk-free rate (0.66%-2.63%). The weighted-average fair value of the Missed Year Options modified on November 11, 2013 was $10.19 per option. | Time-Based Options | |||||||||||||||||
During the three and six months ended March 28, 2014, the Company recognized a charge to expense of approximately $16.3 million and $55.4 million for performance-based options, respectively. These amounts include approximately $14.0 million and $50.9 million related to the Missed Year Options that were modified, respectively. During the three and six months ended March 29, 2013, $2.1 million and $3.4 million was charged to expense for performance-based options, respectively. | The fair value of the Time-Based Options granted was estimated using the Black-Scholes option pricing model and the weighted-average assumptions noted in the table below. Since the Company’s stock is not publicly traded, the expected volatility is based on an average of the historical volatility of the Company’s competitors’ stocks over the expected term of the stock options. The expected life represents the period of time that options granted are expected to be outstanding and is calculated using the simplified method as permitted under Securities and Exchange Commission (“SEC”) rules and regulations due to the lack of history of our equity incentive plan and the lack of a public market for our common stock. The simplified method uses the midpoint between an option’s vesting date and contractual term. The risk-free rate is based on the U.S. Treasury security with terms equal to the expected life of the option as of the grant date. | |||||||||||||||||
Installment Stock Purchase Opportunities (“ISPOs”) | ||||||||||||||||||
The Company recorded approximately $0.5 million and $1.2 million of compensation expense related to ISPOs and the exchanged restricted stock and non-qualified stock options during the three and six months ended March 28, 2014, respectively. The Company recorded approximately $0.2 million and $0.6 million of compensation expense related to ISPOs during the three and six months ended March 29, 2013, respectively. | ||||||||||||||||||
Time-Based Restricted Stock Units | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||
The Restricted Stock Unit Agreement provides for grants of restricted stock units (“RSUs”), 25% of which will vest and be settled in shares on each of the first four anniversaries of the date of grant, subject to the participant’s continued employment with the Company through each such anniversary. The grant-date fair value of RSUs is based on the fair value of the Company’s common stock. Participants holding RSUs will receive the benefit of any dividends paid on shares in the form of additional RSUs. The unvested RSUs are subject to forfeiture if employment is terminated other than due to death, disability or retirement, and the units are nontransferable while subject to forfeiture. | Ended | Ended | Ended | |||||||||||||||
The Company granted 2,048,785 RSUs during the first quarter of fiscal 2014 at a weighted-average grant-date fair value of $20.45. Compensation expense for RSUs is recognized on a straight-line basis over the vesting period during which employees perform related services. The compensation cost charged to expense during the three and six months ended March 28, 2014 for RSUs was approximately $4.0 million and $6.3 million, respectively. | September 27, | September 28, | September 30, | |||||||||||||||
Performance Stock Units | 2013 | 2012 | 2011 | |||||||||||||||
Under the 2013 Stock Plan, the Company is authorized to grant Performance Stock Units (“PSUs”) to its employees. A participant is eligible to become vested in a number of PSUs equal to a percentage, higher or lower, of the target number of PSUs granted based on the level of the Company’s achievement of performance conditions. The first 33% of the award will vest if and when the Company achieves these performance conditions while the remaining 67% will generally vest ratably over the next two anniversaries of the date of grant, subject to the achievement of the performance condition in the first year of grant and the participant’s continued employment with the Company through each such anniversary. The grant-date fair value of the PSUs is based on the fair value of the Company’s common stock. | Expected volatility | 30% | 30% | 30% | ||||||||||||||
On December 20, 2013, the Company granted 466,763 PSUs with a weighted-average grant-date fair value of $23.92 with performance conditions based upon the achievement of a level of earnings per share. The compensation cost charged to expense during the six months ended March 28, 2014 for PSUs was approximately $1.8 million. | Expected dividend yield | 0% | 0% | 0% | ||||||||||||||
Expected life (in years) | 6.25 | 6.25 | 6.25 | |||||||||||||||
Deferred Stock Units | Risk-free interest rate | 1.02% - 2.36% | 1.04% - 1.61% | 1.41% - 2.86% | ||||||||||||||
The Company granted 60,088 deferred stock units during the six months ended March 28, 2014. The compensation cost charged to expense during the three and six months ended March 28, 2014 for deferred stock units was approximately $1.4 million and $1.5 million, respectively. The Company granted 42,462 deferred stock units during the six months ended March 29, 2013. The compensation cost charged to expense during the three and six months ended March 29, 2013 for deferred stock units was approximately $0.4 million and $0.6 million, respectively. | The weighted-average grant-date fair value of Time-Based Options granted during fiscal 2013, fiscal 2012 and fiscal 2011 was $5.41, $4.57 and $4.42 per option, respectively. | |||||||||||||||||
Compensation expense for Time-Based Options is recognized on a straight-line basis over the vesting period during which employees perform related services. Approximately $9.3 million, $8.5 million and $10.3 million was charged to expense during fiscal 2013, fiscal 2012 and fiscal 2011 for Time-Based Options, respectively. The Company has applied a forfeiture assumption of 8.7% per annum in the calculation of such expense. | ||||||||||||||||||
As of September 27, 2013, there was approximately $29.0 million of unrecognized compensation expense related to nonvested Time-Based Options, which is expected to be recognized over a weighted-average period of approximately 3.16 years. | ||||||||||||||||||
A summary of Time-Based Options activity is presented below: | ||||||||||||||||||
Options | Shares | Weighted- | Aggregate | Weighted- | ||||||||||||||
(000s) | Average | Intrinsic Value | Average | |||||||||||||||
Exercise | ($000s) | Remaining Term | ||||||||||||||||
Price | (Years) | |||||||||||||||||
Outstanding at September 28, 2012 | 15,711 | $ | 9.7 | |||||||||||||||
Granted | 4,850 | $ | 16.11 | |||||||||||||||
Exercised | (2,070 | ) | $ | 7.34 | ||||||||||||||
Forfeited and expired | (693 | ) | $ | 11.57 | ||||||||||||||
Outstanding at September 27, 2013 | 17,798 | $ | 12.08 | $ | 109,623 | 6.7 | ||||||||||||
Exercisable at September 27, 2013 | 9,802 | $ | 7.65 | $ | 90,471 | 4.7 | ||||||||||||
Expected to vest at September 27, 2013 | 6,908 | $ | 14.36 | $ | 17,420 | 8.9 | ||||||||||||
The total intrinsic value of Time-Based Options exercised during fiscal 2013, fiscal 2012 and fiscal 2011 was $17.2 million, $15.0 million and $8.9 million, respectively. The total fair value of Time-Based Options that vested during fiscal 2013, fiscal 2012 and fiscal 2011 was $3.9 million, $7.9 million and $15.8 million, respectively. | ||||||||||||||||||
Performance-Based Options | ||||||||||||||||||
The fair value of the Performance-Based Options was estimated using the Black-Scholes option pricing model and the weighted-average assumptions noted in the table below. Since the Company’s stock is not publicly traded, the expected volatility is based on an average of the historical volatility of the Company’s competitors’ stocks over the expected term of the stock options. The expected life represents the period of time that options granted are expected to be outstanding and is calculated using the simplified method as permitted under SEC rules and regulations due to the lack of history of our equity incentive plan and the lack of a public market for our common stock. The simplified method uses the midpoint between an option’s vesting date and contractual term. The risk-free rate is based on the U.S. Treasury security with terms equal to the expected life of the option as of the grant date. | ||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||
September 27, | September 28, | September 30, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Expected volatility | 30% | 30% | 30% | |||||||||||||||
Expected dividend yield | 0% | 0% | 0% | |||||||||||||||
Expected life (in years) | 4.5 - 5.5 | 5.0 - 6.0 | 5.5 - 7.0 | |||||||||||||||
Risk-free interest rate | 0.61% - 0.85% | 0.73% - 1.04% | 1.43% - 2.86% | |||||||||||||||
The weighted-average grant-date fair value of the Performance-Based Options granted during fiscal 2013, fiscal 2012 and fiscal 2011 was $4.54, $3.91 and $4.21 per option, respectively. | ||||||||||||||||||
Compensation expense for Performance-Based Options is recognized on a principally straight-line basis over the requisite performance and service periods. The Company recognized compensation expense of approximately $6.4 million, $3.6 million and $5.1 million during fiscal 2013, fiscal 2012 and fiscal 2011 for Performance-Based Options, respectively. The Company has applied a forfeiture assumption of 8.7% per annum in the calculation of such expense. | ||||||||||||||||||
As of September 27, 2013, there was approximately $2.4 million of unrecognized compensation expense related to nonvested Performance-Based Options, which is expected to be recognized over a weighted-average period of approximately 0.54 years. | ||||||||||||||||||
On June 21, 2011, the Company’s board of directors (the “Board”) approved new annual and cumulative EBIT targets for fiscal 2011 and beyond. Approximately 3.7 million options were affected by these modifications. The fair values of these Performance-Based Options were revalued at the award modification date. The fair value of the Performance-Based Options modified during fiscal 2011 was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions: estimated volatility (30%), expected dividend yield (0%), expected life (3.5-6.8 years) and risk-free interest rate (0.69%-2.27%). The weighted-average fair value of the Performance-Based Options modified during fiscal 2011 was $4.66 per option. | ||||||||||||||||||
On June 21, 2011, the Company’s Board also agreed that for awards granted on or after June 21, 2011, annual and cumulative EBIT targets for future fiscal years beginning after fiscal 2011 will be set within 90 days of the beginning of each fiscal year. The Third Amended Stock Incentive Plan also provides that if an annual EBIT target is established for fiscal 2012 or later years for options granted after June 21, 2011 that is less than the annual EBIT target for such fiscal year for outstanding stock options, the EBIT target for such outstanding options will be reduced to the lower EBIT target. | ||||||||||||||||||
A summary of Performance-Based Options activity is presented below: | ||||||||||||||||||
Options | Shares | Weighted- | Aggregate | Weighted- | ||||||||||||||
(000s) | Average | Intrinsic Value | Average | |||||||||||||||
Exercise | ($000s) | Remaining Term | ||||||||||||||||
Price | (Years) | |||||||||||||||||
Outstanding at September 28, 2012 | 15,929 | $ | 9.68 | |||||||||||||||
Granted | 463 | $ | 15.06 | |||||||||||||||
Exercised | (1,032 | ) | $ | 7.27 | ||||||||||||||
Forfeited and expired | (1,422 | ) | $ | 9.41 | ||||||||||||||
Outstanding at September 27, 2013 | 13,938 | $ | 8.86 | $ | 111,759 | 5.6 | ||||||||||||
Exercisable at September 27, 2013 | 4,548 | $ | 7.29 | $ | 43,596 | 4.4 | ||||||||||||
Expected to vest at September 27, 2013 | 1,669 | $ | 11.82 | $ | 8,444 | 7.6 | ||||||||||||
The total intrinsic value of Performance-Based Options exercised during fiscal 2013, fiscal 2012 and fiscal 2011 was $8.5 million, $7.5 million and $5.0 million, respectively. The total fair value of Performance-Based Options that vested during fiscal 2013, fiscal 2012 and fiscal 2011 was $0.2 million, $6.7 million and $0 million, respectively. | ||||||||||||||||||
Installment Stock Purchase Opportunities | ||||||||||||||||||
Installment Stock Purchase Opportunities provide the grantee the option to purchase shares of the Company’s common stock. ISPO awards are divided into five equal installments. The first installment, which represents 20% of the total award, vests immediately upon grant and will be exercisable until the first anniversary of the grant date. At least 25% of the first installment must be exercised or the entire grant (including the remaining four installments) will expire and any part of the first installment that is not exercised during the exercise period will also expire, in each case on the first anniversary of the grant date. If the exercise conditions of the first installment are met, the remaining four installments will vest on December 15th of the first calendar year following the year in which the ISPO is granted, and on each of the three anniversaries of such date, respectively, and will be exercisable for 31 days thereafter. Any of these remaining four installments that becomes vested but is not exercised during its respective exercise period will expire at the end of its exercise period, but the holder may still exercise any subsequent installments when they vest in future years. | ||||||||||||||||||
The fair value of the ISPOs was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions noted in the table below. Since the Company’s stock is not publicly traded, the expected volatility is based on an average of the historical volatility of the Company’s competitors’ stocks over the expected term of the stock options. The expected life represents the period of time that options granted are expected to be outstanding and is calculated using the simplified methodas permitted under SEC rules and regulations due to the lack of history of our equity incentive plan and the lack of a public market for our common stock. The simplified method uses the midpoint between an option’s vesting date and contractual term. The risk-free rate is based on the U.S. Treasury security with terms equal to the expected life of the option as of the grant date. | ||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||
Expected volatility | 30% | 30% | 30% | |||||||||||||||
Expected dividend yield | 0% | 0% | 0% | |||||||||||||||
Expected life (in years) | 2.5 | 2.5 | 2.5 | |||||||||||||||
Risk-free interest rate | 0.25% | 0.24% - 0.31% | 0.33% - 0.68% | |||||||||||||||
The weighted-average grant-date fair value of ISPOs granted during fiscal 2013, fiscal 2012 and fiscal 2011 was $2.88, $2.80 and $2.47 per option, respectively. | ||||||||||||||||||
Compensation expense for ISPOs is recognized on a straight-line basis over the vesting period during which employees perform related services. The Company recorded approximately $1.6 million, $1.0 million and $0.8 million of compensation expense related to these awards, including the exchanged awards discussed below, during fiscal 2013, fiscal 2012 and fiscal 2011, respectively. The Company has applied a forfeiture assumption of 8.7% per annum in the calculation of such expense. | ||||||||||||||||||
As discussed above, the Company offered to holders of outstanding ISPOs the ability to exchange such awards for restricted stock and non-qualified stock options. On July 31, 2013, as a result of the exchange, outstanding ISPOs were converted into approximately 0.2 million of restricted stock awards at a grant-date fair value of $16.21 and approximately 1.1 million of non-qualified replacement stock option awards at a weighted-average exercise price of $16.21. The fair value of the non-qualified replacement stock option awards was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions: estimated volatility (30%), expected dividend yield (0%), expected life (4.6-6.2 years) and risk-free interest rate (1.38%). The weighted-average fair value of the replacement stock option awards was $4.79 per option. | ||||||||||||||||||
As of September 27, 2013, there was approximately $5.0 million of unrecognized compensation expense related to nonvested ISPOs and exchanged awards, which is expected to be recognized over a weighted-average period of approximately 2.86 years. | ||||||||||||||||||
A summary of ISPOs activity is presented below: | ||||||||||||||||||
Options | Shares | Weighted- | Aggregate | Weighted- | ||||||||||||||
(000s) | Average | Intrinsic Value | Average | |||||||||||||||
Exercise | ($000s) | Remaining Term | ||||||||||||||||
Price | (Years) | |||||||||||||||||
Outstanding at September 28, 2012 | 1,403 | $ | 13.81 | |||||||||||||||
Granted | 350 | $ | 15.08 | |||||||||||||||
Exercised | (158 | ) | $ | 11.83 | ||||||||||||||
Exchanged, forfeited and expired | (1,508 | ) | $ | 13.41 | ||||||||||||||
Outstanding at September 27, 2013 | 87 | $ | 12.21 | $ | 406 | 2.5 | ||||||||||||
The total intrinsic value of ISPOs exercised during fiscal 2013 and fiscal 2012 was $0.5 million and $0.2 million, respectively. The total fair value of ISPOs that vested during fiscal 2013 and fiscal 2012 was $0.4 million and $0.9 million, respectively. | ||||||||||||||||||
Seamless Unit Options | ||||||||||||||||||
During fiscal 2011, Seamless established the Seamless North America 2011 Equity Incentive Plan (the “Plan”). The Plan allows for the issuance of unit options and other equity-based awards in Seamless. The unit options awarded vest solely based on continued employment over a specific period of time, generally four years. The Company recognized compensation expense of approximately $0.2 million, $2.1 million and $0.1 million for Seamless unit options during fiscal 2013, fiscal 2012 and fiscal 2011, respectively. During fiscal 2012, Seamless granted approximately 3.5 million unit options. The Company did not record any additional expense for these awards upon the completion of the spin-off of Seamless Holdings (see Note 3). | ||||||||||||||||||
Deferred Stock Units | ||||||||||||||||||
Deferred stock units are issued only to non-employee members of the Board of Directors of the Company who are not representatives of one of the Sponsors and represent the right to receive shares of the Company’s common stock in the future. Each deferred stock unit will be converted to one share of the Company’s common stock six months and one day after the date on which such director ceases to serve as a member of the Board of Directors. The grant-date fair value of deferred stock units is based on the fair value of the Company’s common stock. Since the deferred stock units are fully vested upon grant, compensation expense for the entire award is recognized immediately upon grant. The Company granted 42,462 deferred stock units during fiscal 2013. The compensation cost charged to expense during fiscal 2013, fiscal 2012 and fiscal 2011 for deferred stock units was approximately $0.6 million, $0.5 million and $1.0 million, respectively. | ||||||||||||||||||
Time-Based Restricted Stock Units | ||||||||||||||||||
The Restricted Stock Unit Agreement provides for grants of restricted stock units (“RSUs”), 25% of which will vest and be settled in shares on each of the first four anniversaries of the date of grant, subject to the participant’s continued employment with the Company through each such anniversary. The grant-date fair value of RSUs is based on the fair value of the Company’s common stock. Participants holding RSUs will receive the benefit of any dividends paid on shares in the form of additional restricted stock units. The unvested units are subject to forfeiture if employment is terminated other than due to death, disability or retirement, and the units are nontransferable while subject to forfeiture. | ||||||||||||||||||
The Company granted 1,273,275 RSUs during fiscal 2013 at a weighted-average grant-date fair value of $16.22. Compensation expense for RSUs is recognized on a straight-line basis over the vesting period during which employees perform related services. The compensation cost charged to expense during fiscal 2013 for restricted stock units was approximately $1.3 million. | ||||||||||||||||||
As of September 27, 2013, there was approximately $15.6 million of unrecognized compensation expense related to nonvested RSUs, which is expected to be recognized over a weighted-average period of approximately 3.78 years. |
ACCOUNTS_RECEIVABLE_SECURITIZA
ACCOUNTS RECEIVABLE SECURITIZATION | 6 Months Ended | 12 Months Ended |
Mar. 28, 2014 | Sep. 27, 2013 | |
Transfers And Servicing [Abstract] | ' | ' |
ACCOUNTS RECEIVABLE SECURITIZATION | ' | ' |
(10) ACCOUNTS RECEIVABLE SECURITIZATION: | NOTE 12. ACCOUNTS RECEIVABLE SECURITIZATION: | |
The Company has an agreement (the “Receivables Facility”) with several financial institutions whereby it sells on a continuous basis an undivided interest in all eligible trade accounts receivable, as defined in the Receivables Facility. The maximum amount available under the facility is $300 million, which expires in January 2015. Pursuant to the Receivables Facility, the Company formed ARAMARK Receivables, LLC, a wholly-owned, consolidated, bankruptcy-remote subsidiary. ARAMARK Receivables, LLC was formed for the sole purpose of buying and selling receivables generated by certain subsidiaries of the Company. Under the Receivables Facility, the Company and certain of its subsidiaries transfer without recourse all of their accounts receivable to ARAMARK Receivables, LLC. As collections reduce previously transferred interests, interests in new, eligible receivables are transferred to ARAMARK Receivables, LLC, subject to meeting certain conditions. At March 28, 2014 and September 27, 2013, the amount of outstanding borrowings under the Receivables Facility was $300.0 million and $300.0 million and is included in “Long-Term Borrowings,” respectively. | ARAMARK Corporation has an agreement (the “Receivables Facility”) with several financial institutions whereby it sells on a continuous basis an undivided interest in all eligible trade accounts receivable, as defined in the Receivables Facility. The maximum amount available under the Receivables Facility is $300 million, which expires in January 2015. Pursuant to the Receivables Facility, ARAMARK Corporation formed ARAMARK Receivables, LLC, a wholly-owned, consolidated, bankruptcy-remote subsidiary. ARAMARK Receivables, LLC was formed for the sole purpose of buying and selling receivables generated by certain subsidiaries of the Company. Under the Receivables Facility, ARAMARK Corporation and certain of its subsidiaries transfer without recourse all of their accounts receivable to ARAMARK Receivables, LLC. As collections reduce previously transferred interests, interests in new, eligible receivables are transferred to ARAMARK Receivables, LLC, subject to meeting certain conditions. At September 27, 2013 and September 28, 2012, the amount of outstanding borrowings under the Receivables Facility was $300.0 million and $263.8 million, respectively, and is included in “Long-Term Borrowings”. | |
In May 2014, the Company amended the Receivables Facility to increase the maximum amount to $350.0 million and extend the maturity date to May 2017. In addition, the Receivable Facility will now include a seasonal tranche which will increase the capacity of the Receivable Facility by $25.0 million. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended | 12 Months Ended | ||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ||||
COMMITMENTS AND CONTINGENCIES | ' | ' | ||||
(14) COMMITMENTS AND CONTINGENCIES: | NOTE 13. COMMITMENTS AND CONTINGENCIES: | |||||
Certain of the Company’s lease arrangements, primarily vehicle leases, with terms of one to eight years, contain provisions related to residual value guarantees. The maximum potential liability to the Company under such arrangements was approximately $128.1 million at March 28, 2014 if the terminal fair value of vehicles coming off lease was zero. Consistent with past experience, management does not expect any significant payments will be required pursuant to these arrangements. No amounts have been accrued for guarantee arrangements at March 28, 2014. | The Company has capital and other purchase commitments of approximately $249.8 million at September 27, 2013, primarily in connection with commitments for capital projects and client contract investments. At September 27, 2013, the Company also has letters of credit outstanding in the amount of $121.7 million. | |||||
From time to time, the Company and its subsidiaries are a party to various legal actions and investigations involving claims incidental to the conduct of its business, including actions by clients, customers, employees, government entities and third parties, including under federal, state, international, national, provincial and local employment laws, wage and hour laws, discrimination laws, immigration laws, human health and safety laws, import and export controls and customs laws, environmental laws, false claims or whistleblower statutes, minority, women and disadvantaged business enterprise statutes, tax codes, antitrust and competition laws, consumer protection statutes, procurement regulations, intellectual property laws, food safety and sanitation laws, cost and accounting principles, the Foreign Corrupt Practices Act, the U.K. Bribery Act, other anti-corruption laws, lobbying laws, motor carrier safety laws, data privacy laws and alcohol licensing and service laws, or alleging negligence and/or breaches of contractual and other obligations. Based on information currently available, advice of counsel, available insurance coverage, established reserves and other resources, the Company does not believe that any such actions are likely to be, individually or in the aggregate, material to its business, financial condition, results of operations or cash flows. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to the Company’s business, financial condition, results of operations or cash flows. | Certain of the Company’s lease arrangements, primarily vehicle leases, with terms of one to eight years, contain provisions related to residual value guarantees. The maximum potential liability to the Company under such arrangements was approximately $110.3 million at September 27, 2013 if the terminal fair value of vehicles coming off lease was zero. Consistent with past experience, management does not expect any significant payments will be required pursuant to these arrangements. No amounts have been accrued for guarantee arrangements at September 27, 2013. | |||||
Rental expense for all operating leases was $179.3 million, $177.4 million and $168.1 million for fiscal 2013, fiscal 2012 and fiscal 2011, respectively. Following is a schedule of the future minimum rental and similar commitments under all noncancelable operating leases as of September 27, 2013 (in thousands): | ||||||
Fiscal Year | ||||||
2014 | $ | 219,698 | ||||
2015 | 93,661 | |||||
2016 | 76,420 | |||||
2017 | 67,469 | |||||
2018 | 52,123 | |||||
Subsequent years | 90,598 | |||||
Total minimum rental obligations | $ | 599,969 | ||||
From time to time, the Company is a party to various legal actions and investigations involving claims incidental to the conduct of its business, including actions by clients, customers, employees, government entities and third parties, including under federal, state, international, national, provincial and local employment laws, wage and hour laws, discrimination laws, immigration laws, human health and safety laws, import and export controls and customs laws, environmental laws, false claims or whistleblower statutes, minority, women and disadvantaged business enterprise statutes, tax codes, antitrust and competition laws, consumer protection statutes, procurement regulations, intellectual property laws, food safety and sanitation laws, cost and accounting principles, the Foreign Corrupt Practices Act, the U.K. Bribery Act, other anti-corruption laws, lobbying laws, motor carrier safety laws, data privacy laws and alcohol licensing and service laws, or alleging negligence and/or breaches of contractual and other obligations. Based on information currently available, advice of counsel, available insurance coverage, established reserves and other resources, the Company does not believe that any such actions are likely to be, individually or in the aggregate, material to its business, financial condition, results of operations or cash flows. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to the Company’s business, financial condition, results of operations or cash flows. | ||||||
In 2011, the Company was informed that an Illinois state civil action had been filed against a subsidiary of the Company by an unnamed Relator under the Illinois Whistleblower Reward and Protection Act in the Circuit Court of Cook County, Illinois County Department, Law Division. During the third quarter of fiscal 2013, this matter was settled, payments were made pursuant to the terms of the settlement, and the case was dismissed with prejudice. |
BUSINESS_SEGMENTS
BUSINESS SEGMENTS | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||
BUSINESS SEGMENTS | ' | ' | ||||||||||||||||||||
NOTE 14. BUSINESS SEGMENTS: | ||||||||||||||||||||||
(12) BUSINESS SEGMENTS: | The Company provides or manages services in two strategic areas: Food and Support Services and Uniform and Career Apparel, which are organized and managed in the following reportable business segments: | |||||||||||||||||||||
Food and Support Services—North America—Food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping, provided to business, educational and healthcare institutions and in sports, entertainment, recreational and other facilities serving the general public in the United States, Canada and Mexico. Food and Support Services—North America sales and operating income for fiscal 2013 were negatively affected by Hurricane Sandy and the National Hockey League lockout. Food and Support Services—North America operating income for fiscal 2013 includes $43.5 million of severance and related costs. Food and Support Services—North America operating income for fiscal 2013 also includes $6.8 million of asset write-offs and other income recognized of approximately $14.0 million relating to the recovery of the Company’s investment (possessory interest) at one of the National Park Service (“NPS”) sites in the Sports, Leisure and Corrections sector, which was terminated in the current year. Food and Support Services—North America operating income for fiscal 2012 includes transition and integration costs of $4.9 million related to the Filterfresh acquisition, a favorable risk insurance adjustment of $1.7 million related to favorable claims experience and other income recognized of $6.7 million relating to the recovery of the Company’s investment (possessory interest) at one of the NPS sites in Sports, Leisure and Corrections sector, which was terminated in the prior year. Food and Support Services—North America operating income for fiscal 2011 includes other income recognized of $7.8 million related to a compensation agreement signed with the NPS under which the NPS agreed to pay down a portion of the Company’s investment (possessory interest) in certain assets at one of the Company’s NPS sites in the Sports, Leisure and Corrections sector, severance related expenses of $6.2 million and a favorable risk insurance adjustment of $0.9 million related to favorable claims experience. | ||||||||||||||||||||||
Sales, operating income and depreciation and amortization by reportable segment follow (in thousands): | Food and Support Services—International—Food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping, provided to business, educational and healthcare institutions and in sports, entertainment, recreational and other facilities serving the general public. Operations are conducted in 19 countries, including the U.K., Germany, Chile, Ireland, Spain, China, Belgium, Korea, Argentina and Japan. Food and Support Services—International operating income for fiscal 2013 includes $14.6 million of severance and related costs and $16.9 million of goodwill impairment charges and other asset write-offs. Food and Support Services—International operating income for fiscal 2012 includes a favorable adjustment of $1.5 million related to a non-income tax settlement in the U.K. and $2.9 million of severance related expenses. Food and Support Services—International operating income for fiscal 2011 includes a gain of $7.7 million related to the divestiture of the Company’s 67% ownership interest in the security business of its Chilean subsidiary (see Note 3), favorable non-income tax settlements in the U.K. of $5.3 million, a goodwill and other intangible assets impairment charge of $5.3 million (see Note 5), a gain on the sale of land in Chile of $1.7 million and severance related expenses of $11.4 million. | |||||||||||||||||||||
Uniform and Career Apparel—Rental, sale, cleaning, maintenance and delivery of personalized uniform and career apparel and other textile items on a contract basis and direct marketing of personalized uniforms and career apparel and accessories to businesses, public institutions and individuals. Also provided are walk-off mats, cleaning cloths and disposable towels. Uniform and Career Apparel operating income for fiscal 2013 includes $8.5 million of severance and related costs, which includes $3.7 million of severance related expenses recorded in the first quarter of fiscal 2013, and a net charge of approximately $6.5 million related to multiemployer pension withdrawals and a final settlement of wage and hour claims, net of a favorable risk insurance adjustment. Uniform and Career Apparel operating income for fiscal 2012 includes a favorable risk insurance adjustment of $5.7 million related to favorable claims experience and severance related expenses of $2.6 million. Uniform and Career Apparel operating income for fiscal 2011 includes a gain of $2.6 million related to a property settlement of an eminent domain claim, a risk insurance adjustment of $4.8 million related to favorable claims experience and severance related expenses of $3.9 million. | ||||||||||||||||||||||
Sales by segment are substantially comprised of services to unaffiliated customers and clients. Operating income reflects expenses directly related to individual segments plus an allocation of corporate expenses applicable to more than one segment. | ||||||||||||||||||||||
Corporate—Corporate includes general corporate expenses not specifically allocated to an individual segment and share-based compensation expense (see Note 11). Corporate expenses for fiscal 2013 includes $1.1 million of severance and related costs. During fiscal 2011, the Company recorded severance related expenses of $1.3 million. | ||||||||||||||||||||||
Sales | Three Months | Three Months | Interest and Other Financing Costs, net, for fiscal 2013 was favorably impacted by the maturity of interest rate swaps during fiscal 2012. Interest and Other Financing Costs, net, for fiscal 2013 includes charges of $39.8 million in connection with the tender offer and Satisfaction and Discharge (see Note 6), consisting of $12.9 million of third party costs for the tender offer premium and $26.9 million of non-cash charges for the write-off of deferred financing costs. Interest and Other Financing Costs, net, for fiscal 2013 also includes approximately $11.6 million of third-party costs incurred related to Amendment Agreement No. 3 to the senior secured credit agreement (see Note 6) and approximately $3.2 million of hedge ineffectiveness related to the repayment of the Canadian subsidiary’s term loan with a maturity date of January 26, 2014 (see Note 7). Interest and Other Financing Costs, net, for fiscal 2012 includes $11.1 million of third-party costs related to Amendment Agreement No. 2 (see Note 6) and the amendment of the Company’s Canadian subsidiary cross currency swap (see Note 7). Interest and Other Financing Costs, net, for fiscal 2011 includes a write-off of deferred financing fees of $2.1 million related to the amendment that extended the U.S. dollar denominated portion of the revolving credit facility and interest income of $14.1 million related to favorable non-income tax settlements in the U.K. | |||||||||||||||||||
Ended | Ended | Financial information by segment follows (in millions): | ||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
FSS North America | $ | 2,396,880 | $ | 2,354,315 | ||||||||||||||||||
FSS International | 744,163 | 702,154 | Sales | |||||||||||||||||||
Uniform | 360,964 | 347,268 | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
$ | 3,502,007 | $ | 3,403,737 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||
Food and Support Services—North America | $ | 9,665.20 | $ | 9,413.20 | $ | 9,019.00 | ||||||||||||||||
Food and Support Services—International | 2,869.20 | 2,729.50 | 2,723.30 | |||||||||||||||||||
Uniform and Career Apparel | 1,411.30 | 1,362.70 | 1,340.10 | |||||||||||||||||||
Operating Income (Loss) | Three Months | Three Months | $ | 13,945.70 | $ | 13,505.40 | $ | 13,082.40 | ||||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
FSS North America | $ | 125,416 | $ | 84,238 | ||||||||||||||||||
FSS International | 13,163 | (10,027 | ) | Operating Income | ||||||||||||||||||
Uniform | 36,564 | 23,277 | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
175,143 | 97,488 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
Corporate | (54,336 | ) | (17,273 | ) | Food and Support Services—North America | $ | 405.1 | $ | 425.6 | $ | 400.5 | |||||||||||
Food and Support Services—International | 66.2 | 89.9 | 79.9 | |||||||||||||||||||
Operating Income | 120,807 | 80,215 | Uniform and Career Apparel | 117.3 | 118.1 | 117.3 | ||||||||||||||||
Interest and Other Financing Costs, net | (102,074 | ) | (147,124 | ) | ||||||||||||||||||
588.6 | 633.6 | 597.7 | ||||||||||||||||||||
Income (Loss) Before Income Taxes | $ | 18,733 | $ | (66,909 | ) | Corporate | (74.2 | ) | (51.8 | ) | (50.6 | ) | ||||||||||
Operating Income | 514.4 | 581.8 | 547.1 | |||||||||||||||||||
Interest and other financing costs, net | (423.8 | ) | (456.8 | ) | (451.1 | ) | ||||||||||||||||
Depreciation and Amortization | Three Months | Three Months | Income from Continuing Operations Before Income Taxes | $ | 90.6 | $ | 125 | $ | 96 | |||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
FSS North America | $ | 91,954 | $ | 93,161 | ||||||||||||||||||
FSS International | 13,916 | 16,019 | Depreciation and Amortization | |||||||||||||||||||
Uniform | 19,170 | 25,898 | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||
Corporate | 277 | 226 | Ended | Ended | Ended | |||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||
$ | 125,317 | $ | 135,304 | Food and Support Services—North America | $ | 375.7 | $ | 364.7 | $ | 341.9 | ||||||||||||
Food and Support Services—International | 62.5 | 61 | 62.6 | |||||||||||||||||||
Uniform and Career Apparel | 102 | 102.6 | 105.1 | |||||||||||||||||||
Corporate | 1.9 | 0.9 | 0.9 | |||||||||||||||||||
Sales | Six Months | Six Months | $ | 542.1 | $ | 529.2 | $ | 510.5 | ||||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
FSS North America | $ | 5,017,231 | $ | 4,811,899 | ||||||||||||||||||
FSS International | 1,519,738 | 1,427,051 | Capital Expenditures and | |||||||||||||||||||
Uniform | 728,119 | 700,702 | Client Contract Investments and Other* | |||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
$ | 7,265,088 | $ | 6,939,652 | Ended | Ended | Ended | ||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||
Food and Support Services—North America | $ | 285.6 | $ | 281 | $ | 207.9 | ||||||||||||||||
Food and Support Services—International | 60.7 | 51.9 | 58.6 | |||||||||||||||||||
Uniform and Career Apparel | 46.7 | 40.5 | 33.3 | |||||||||||||||||||
Operating Income | Six Months | Six Months | Corporate | 0.1 | — | 0.4 | ||||||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | $ | 393.1 | $ | 373.4 | $ | 300.2 | |||||||||||||||
FSS North America | $ | 288,550 | $ | 225,789 | ||||||||||||||||||
FSS International | 40,235 | 9,183 | ||||||||||||||||||||
Uniform | 76,859 | 54,373 | * | Includes amounts acquired in business combinations | ||||||||||||||||||
405,644 | 289,345 | |||||||||||||||||||||
Corporate | (127,615 | ) | (33,811 | ) | Identifiable Assets | |||||||||||||||||
September 27, | September 28, | |||||||||||||||||||||
Operating Income | 278,029 | 255,534 | 2013 | 2012 | ||||||||||||||||||
Interest and Other Financing Costs, net | (185,427 | ) | (260,475 | ) | Food and Support Services—North America | $ | 6,939.30 | $ | 7,120.80 | |||||||||||||
Food and Support Services—International | 1,531.20 | 1,527.70 | ||||||||||||||||||||
Income (Loss) Before Income Taxes | $ | 92,602 | $ | (4,941 | ) | Uniform and Career Apparel | 1,670.00 | 1,681.70 | ||||||||||||||
Corporate | 126.6 | 157.2 | ||||||||||||||||||||
$ | 10,267.10 | $ | 10,487.40 | |||||||||||||||||||
Depreciation and Amortization | Six Months | Six Months | The following geographic data include sales generated by subsidiaries within that geographic area and net property & equipment based on physical location (in millions): | |||||||||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
FSS North America | $ | 188,002 | $ | 185,009 | Sales | |||||||||||||||||
FSS International | 29,375 | 31,798 | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||
Uniform | 44,402 | 51,442 | Ended | Ended | Ended | |||||||||||||||||
Corporate | 362 | 455 | September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||||||||
United States | $ | 10,025.00 | $ | 9,729.60 | $ | 9,369.60 | ||||||||||||||||
$ | 262,141 | $ | 268,704 | Foreign | 3,920.70 | 3,775.80 | 3,712.80 | |||||||||||||||
$ | 13,945.70 | $ | 13,505.40 | $ | 13,082.40 | |||||||||||||||||
In the first and second fiscal quarters, within the FSS North America segment, historically there has been a lower level of activity at the sports and leisure food service operations that is partly offset by increased activity in the educational operations. However, in the third and fourth fiscal quarters, historically there has been a significant increase at sports and leisure accounts that is partially offset by the effect of summer recess on the educational accounts. | ||||||||||||||||||||||
Net Property & Equipment | ||||||||||||||||||||||
September 27, | September 28, | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
United States | $ | 789.4 | $ | 790.1 | ||||||||||||||||||
Foreign | 187.9 | 186.2 | ||||||||||||||||||||
$ | 977.3 | $ | 976.3 | |||||||||||||||||||
FAIR_VALUE_OF_ASSETS_AND_LIABI
FAIR VALUE OF ASSETS AND LIABILITIES | 6 Months Ended | 12 Months Ended | ||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||
FAIR VALUE OF ASSETS AND LIABILITIES | ' | ' | ||||||||
NOTE 15. FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES: | ||||||||||
(15) FAIR VALUE OF ASSETS AND LIABILITIES: | Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are classified based upon the level of judgment associated with the inputs used to measure their fair value. The hierarchical levels related to the subjectivity of the valuation inputs are defined as follows: | |||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are classified based upon the level of judgment associated with the inputs used to measure their fair value. The hierarchical levels related to the subjectivity of the valuation inputs are defined as follows: | • | Level 1—inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets | ||||||||
• | Level 2—inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument | |||||||||
• | Level 1—inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets | |||||||||
• | Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement | |||||||||
Recurring Fair Value Measurements | ||||||||||
• | Level 2—inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument | The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, borrowings, common stock subject to repurchase and derivatives (see Note 7). Management believes that the carrying value of cash and cash equivalents, accounts receivable and accounts payable are representative of their respective fair values. In conjunction with the fair value measurement of the derivative instruments, the Company made an accounting policy election to measure the credit risk of its derivative instruments that are subject to master netting agreements on a net basis by counterparty portfolio. The fair value of the Company’s debt at September 27, 2013 and September 28, 2012 was $5,854.9 million and $6,052.9 million, respectively. The carrying value of the Company’s debt at September 27, 2013 and September 28, 2012 was $5,824.1 million and $6,008.8 million, respectively. The fair values were computed using market quotes, if available, or based on discounted cash flows using market interest rates as of the end of the respective periods. The inputs utilized in estimating the fair value of the Company’s debt has been classified as level 2 in the fair value hierarchy levels. | ||||||||
The following table presents the changes in the Company’s common stock subject to repurchase for which level 3 inputs were significant to their valuation for fiscal 2013 (in thousands): | ||||||||||
• | Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement | |||||||||
Common Stock | ||||||||||
Recurring Fair Value Measurements | Subject to | |||||||||
Repurchase | ||||||||||
The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, borrowings and derivatives. Management believes that the carrying value of cash and cash equivalents, accounts receivable and accounts payable are representative of their respective fair values. In conjunction with the fair value measurement of the derivative instruments, the Company made an accounting policy election to measure the credit risk of its derivative instruments, that are subject to master netting agreements, on a net basis by counterparty portfolio. The fair value of the Company’s debt at March 28, 2014 and September 27, 2013 was $5,694.8 million and $5,854.9 million, respectively. The carrying value of the Company’s debt at March 28, 2014 and September 27, 2013 was $5,637.5 million and $5,824.1 million, respectively. The fair values were computed using market quotes, if available, or based on discounted cash flows using market interest rates as of the end of the respective periods. The inputs utilized in estimating the fair value of the Company’s debt has been classified as level 2 in the fair value hierarchy levels. | Balance, September 28, 2012 | $ | 167,461 | |||||||
Issuances of common stock | 1,904 | |||||||||
During the first quarter of fiscal 2014, the Company’s obligation to repurchase shares was eliminated (see Note 8). The following table presents the changes in the Company’s common stock subject to repurchase for which level 3 inputs were significant to their valuation for the six months ended March 28, 2014 (in thousands): | Repurchases of common stock | (27,474 | ) | |||||||
Change in fair market value of common stock | 16,817 | |||||||||
Balance, September 27, 2013 | $ | 158,708 | ||||||||
Common Stock | ||||||||||
Subject to | ||||||||||
Repurchase | ||||||||||
Balance, September 27, 2013 | $ | 158,708 | ||||||||
Repurchases of common stock | (763 | ) | ||||||||
Reclassification of common stock subject to repurchase | (157,945 | ) | ||||||||
Balance, March 28, 2014 | $ | — | ||||||||
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Sep. 27, 2013 | |
Related Party Transactions [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
NOTE 16. RELATED PARTY TRANSACTIONS: | |
As of September 27, 2013, the notional value of interest rate swaps with entities affiliated with GS Capital Partners was $230 million and with entities affiliated with J.P. Morgan Partners was $205 million. As of September 28, 2012, the notional value of interest rate swaps with entities affiliated with GS Capital Partners was $96 million and with entities affiliated with J.P. Morgan Partners was $221 million. In all of these swaps, the Company pays the counterparty a fixed interest rate in exchange for their payment of a floating interest rate. The net payments in fiscal 2013, fiscal 2012 and fiscal 2011 to entities affiliated with GS Capital Partners pursuant to interest rate swap transactions were approximately $3.1 million, $21.5 million and $40.1 million, respectively. The net payments in fiscal 2013, fiscal 2012 and fiscal 2011 to entities affiliated with J.P. Morgan Partners pursuant to interest rate swap transactions were approximately $5.5 million, $28.2 million and $51.6 million, respectively. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Sep. 27, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 17. SUBSEQUENT EVENTS | |
On November 11, 2013 and November 12, 2013, the Board and certain committees of the Board, including the Compensation Committee, took certain actions relating to compensation determinations for employees, as well as certain actions related to the compensation of executive officers and benefit plans of Holdings in connection with the previously announced preparation for the initial public offering of Holdings. | |
Amended and Restated Senior Executive Performance Bonus Plan | |
On November 12, 2013, the Board approved, and the stockholders of Holdings adopted by written consent, the Amended and Restated Senior Executive Performance Bonus Plan (the “Amended Bonus Plan”), which will become effective on December 1, 2013. The Amended Bonus Plan is intended to provide for an annual performance bonus for the chief executive officer and other designated executive officers of Holdings or any of its subsidiaries. The terms of the Amended Bonus Plan are generally consistent with the terms of the existing Senior Executive Annual Performance Bonus Plan of Holdings, except that the annual individual participant award limit has been increased to $6 million. | |
Approval of Special Bonuses | |
On November 11, 2013, the Compensation Committee approved special cash bonuses to certain senior executive officers of approximately $4.3 million that are contingent on and payable following the completion of the initial public offering. The accounting for the bonuses will be reflected upon completion of this offering. | |
Grants in Connection with the Initial Public Offering | |
On November 11, 2013, the Compensation Committee and the Stock Committee approved grants of RSUs to certain senior executives under the Fourth Amended Stock Incentive Plan, to become effective at the time of the initial public offering of Holdings. The total value of the RSUs granted will be approximately $35 million. The RSUs are subject to time-based vesting, with one-third of the RSUs vesting on each of the first three anniversaries of the date of grant, subject to the executive’s continued employment with Holdings and its subsidiaries. The terms of the RSUs are otherwise generally consistent with the terms of the previously approved form of restricted stock unit award agreement under the Fourth Amended Stock Incentive Plan. The accounting for the share-based compensation related to these RSU grants will be reflected beginning upon completion of this offering. | |
Amendment to Vesting of Outstanding Performance-Based Options | |
On November 11, 2013, the Compensation Committee approved an amendment to all outstanding 2007 MSIP Option Agreements (the “Performance Option Amendment”) modifying the vesting provisions relating to outstanding Performance-Based Options granted under the 2007 MSIP. The Performance Option Amendment provides that in the event of an initial public offering of Holdings, subject to continued employment on such date, 50% of any then-unvested performance-based options that did not meet applicable performance thresholds in prior years (the “Missed Year Options”) will become vested if the initial public offering price for the common stock of Holdings equals or exceeds $20.00 per share. In addition, during the 18 month period following the initial public offering, if the closing trading price for common stock of Holdings equals or exceeds $25.00 per share over any consecutive twenty day trading period, 100% of the Missed Year Options will become vested. There are a total of approximately 5.3 million Missed Year Options. The accounting for the modification related to the Missed Year Options, which in total is estimated to be approximately $55 million, will be reflected beginning upon completion of this offering. | |
ARAMARK Holdings Corporation 2013 Stock Incentive Plan and Forms of Agreements | |
On November 12, 2013, the Board approved, and the stockholders of Holdings adopted by written consent, the ARAMARK Holdings Corporation 2013 Stock Incentive Plan (the “2013 Stock Plan”), which will become effective on December 1, 2013. The 2013 Stock Plan provides that the total number of shares of common stock that may be issued under the 2013 Stock Plan is 25,500,000. In connection with the adoption of the 2013 Stock Plan, the Board approved, and the stockholders of Holdings adopted by written consent, the Fifth Amended and Restated ARAMARK Holdings Corporation 2007 Management Stock Incentive Plan (the “Fifth Amended Stock Plan”) which amends certain terms of the 2007 MSIP in contemplation of the initial public offering of Holdings, including providing that no awards will be granted under the Fifth Amended Stock Plan shortly following the consummation of an initial public offering, as it is intended that grants following the initial public offering will be made under the 2013 Stock Plan. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements of Aramark Holdings Corporation and Subsidiaries | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Financial Statements of Aramark Holdings Corporation and Subsidiaries | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
NOTE 18. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES: | ||||||||||||||||||||||||||||||||||||||||||||||||||
(17) CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES: | The following condensed consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. | |||||||||||||||||||||||||||||||||||||||||||||||||
These condensed consolidating financial statements have been prepared from the Company’s financial information on the same basis of accounting as the consolidated financial statements. Interest expense and certain other costs are partially allocated to all of the subsidiaries of the Company. Goodwill and other intangible assets have been allocated to the subsidiaries based on management’s estimates. The 5.75% Senior Notes are an obligation of the Company’s wholly-owned subsidiary, ARAMARK Corporation, and are jointly and severally guaranteed on a senior unsecured basis by the Company and substantially all of the Company’s existing and future domestic subsidiaries (excluding the receivables facility subsidiary) (“Guarantors”). Each of the Guarantors is wholly-owned, directly or indirectly, by the Company. All other subsidiaries of the Company, either direct or indirect, do not guarantee the Senior Notes (“Non-Guarantors”). The Guarantors also guarantee certain other debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following condensed consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
These condensed consolidating financial statements have been prepared from the Company’s financial information on the same basis of accounting as the consolidated financial statements. Interest expense and certain other costs are partially allocated to all of the subsidiaries of the Company. Goodwill and other intangible assets have been allocated to the subsidiaries based on management’s estimates. The 5.75% Senior Notes are an obligation of the Company’s wholly-owned subsidiary, ARAMARK Corporation, and are jointly and severally guaranteed on a senior unsecured basis by the Company and substantially all of the Company’s existing and future domestic subsidiaries (excluding the receivables facility subsidiary) (“Guarantors”). Each of the Guarantors is wholly-owned, directly or indirectly, by the Company. All other subsidiaries of the Company, either direct or indirect, do not guarantee the Senior Notes (“Non-Guarantors”). The Guarantors also guarantee certain other debt. | September 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 28, 2014 | ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Cash and cash equivalents | $ | — | $ | 23 | $ | 40.5 | $ | 47.5 | $ | — | $ | 111 | |||||||||||||||||||||||||||||||||||||
Receivables | — | 1.4 | 242.9 | 1,161.60 | — | 1,405.90 | ||||||||||||||||||||||||||||||||||||||||||||
Inventories, at lower of cost or market | — | 15.9 | 441 | 85.1 | — | 542 | ||||||||||||||||||||||||||||||||||||||||||||
Prepayments and other current assets | — | 46.2 | 103.1 | 79 | — | 228.3 | ||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Total current assets | — | 86.5 | 827.5 | 1,373.20 | — | 2,287.20 | |||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | Property and Equipment, net | — | 24.4 | 751.2 | 201.7 | — | 977.3 | |||||||||||||||||||||||||||||||||||||||||||
ASSETS | Goodwill | — | 173.1 | 3,994.60 | 452.3 | — | 4,620.00 | |||||||||||||||||||||||||||||||||||||||||||
Current Assets: | Investment in and Advances to Subsidiaries | 1,062.70 | 6,267.40 | 444.8 | 124.5 | (7,899.4 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 30.1 | $ | 43.8 | $ | 65.3 | $ | — | $ | 139.2 | Other Intangible Assets | — | 32.6 | 1,230.00 | 146.1 | — | 1,408.70 | |||||||||||||||||||||||||||||||
Receivables | — | 0.6 | 321 | 1,201.40 | — | 1,523.00 | Other Assets | — | 68.4 | 629.5 | 278 | (2.0 | ) | 973.9 | ||||||||||||||||||||||||||||||||||||
Inventories, at lower of cost or market | — | 15.6 | 453.4 | 80.9 | — | 549.9 | ||||||||||||||||||||||||||||||||||||||||||||
Prepayments and other current assets | — | 32.6 | 83.2 | 87.8 | — | 203.6 | $ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | |||||||||||||||||||||||||||||||
Total current assets | — | 78.9 | 901.4 | 1,435.40 | — | 2,415.70 | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, net | — | 23.8 | 748.1 | 189 | — | 960.9 | Current Liabilities: | |||||||||||||||||||||||||||||||||||||||||||
Goodwill | — | 173.1 | 3,981.70 | 460.6 | — | 4,615.40 | Current maturities of long-term borrowings | $ | — | $ | 22.5 | $ | 12 | $ | 31.3 | $ | — | $ | 65.8 | |||||||||||||||||||||||||||||||
Investment in and Advances to Subsidiaries | 1,699.90 | 5,886.60 | 477.2 | 114.5 | (8,178.2 | ) | — | Accounts payable | — | 147 | 448.3 | 293.7 | — | 889 | ||||||||||||||||||||||||||||||||||||
Other Intangible Assets | — | 29.7 | 1,159.50 | 138.1 | — | 1,327.30 | Accrued expenses and other liabilities | 0.3 | 230.2 | 875.6 | 328.3 | 0.1 | 1,434.50 | |||||||||||||||||||||||||||||||||||||
Other Assets | — | 70 | 631 | 268.3 | (2.0 | ) | 967.3 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 0.3 | 399.7 | 1,335.90 | 653.3 | 0.1 | 2,389.30 | ||||||||||||||||||||||||||||||||||||||||||||
$ | 1,699.90 | $ | 6,262.10 | $ | 7,898.90 | $ | 2,605.90 | $ | (8,180.2 | ) | $ | 10,286.60 | ||||||||||||||||||||||||||||||||||||||
Long-term Borrowings | — | 5,101.70 | 40.4 | 616.1 | — | 5,758.20 | ||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | Deferred Income Taxes and Other Noncurrent Liabilities | — | 326.2 | 618.3 | 102.5 | — | 1,047.00 | |||||||||||||||||||||||||||||||||||||||||||
Current Liabilities: | Intercompany Payable | — | — | 5,016.00 | 1,305.70 | (6,321.7 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term borrowings | $ | — | $ | 36 | $ | 11 | $ | 42.7 | $ | — | $ | 89.7 | Common Stock Subject to Repurchase and other | 158.7 | — | 10.2 | — | — | 168.9 | |||||||||||||||||||||||||||||||
Accounts payable | — | 166.9 | 396.3 | 241 | — | 804.2 | Total Equity | 903.7 | 824.8 | 856.8 | (101.8 | ) | (1,579.8 | ) | 903.7 | |||||||||||||||||||||||||||||||||||
Accrued expenses and other liabilities | 0.8 | 164.7 | 676.1 | 318 | 0.1 | 1,159.70 | ||||||||||||||||||||||||||||||||||||||||||||
$ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | ||||||||||||||||||||||||||||||||||||||
Total current liabilities | 0.8 | 367.6 | 1,083.40 | 601.7 | 0.1 | 2,053.60 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term Borrowings | — | 4,681.20 | 43.1 | 823.6 | — | 5,547.90 | CONDENSED CONSOLIDATING BALANCE SHEETS | |||||||||||||||||||||||||||||||||||||||||||
Deferred Income Taxes and Other Noncurrent Liabilities | — | 320.9 | 573.5 | 81.4 | — | 975.8 | September 28, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Intercompany Payable | — | — | 5,277.50 | 1,183.30 | (6,460.8 | ) | — | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Subject to Repurchase and Other | — | — | 10.2 | — | — | 10.2 | ||||||||||||||||||||||||||||||||||||||||||||
Total Stockholders’ Equity | 1,699.10 | 892.4 | 911.2 | (84.1 | ) | (1,719.5 | ) | 1,699.10 | ||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
$ | 1,699.90 | $ | 6,262.10 | $ | 7,898.90 | $ | 2,605.90 | $ | (8,180.2 | ) | $ | 10,286.60 | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | Cash and cash equivalents | $ | 0.1 | $ | 27.4 | $ | 41.7 | $ | 67.6 | $ | — | $ | 136.8 | |||||||||||||||||||||||||||||||||||||
Receivables | — | 2.7 | 235.9 | 1,077.40 | — | 1,316.00 | ||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | Inventories, at lower of cost or market | — | 15.9 | 414.8 | 77.7 | — | 508.4 | |||||||||||||||||||||||||||||||||||||||||||
Prepayments and other current assets | — | 13.4 | 144.4 | 66.5 | — | 224.3 | ||||||||||||||||||||||||||||||||||||||||||||
September 27, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 0.1 | 59.4 | 836.8 | 1,289.20 | — | 2,185.50 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, net | — | 25.6 | 738.5 | 212.2 | — | 976.3 | ||||||||||||||||||||||||||||||||||||||||||||
Goodwill | — | 173.1 | 3,987.20 | 569.2 | — | 4,729.50 | ||||||||||||||||||||||||||||||||||||||||||||
Investment in and Advances to Subsidiaries | 1,706.10 | 6,353.30 | 389.9 | 139.2 | (8,588.5 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Other Intangible Assets | — | 42 | 1,366.60 | 186.5 | — | 1,595.10 | ||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Other Assets | 11 | 64.2 | 603.7 | 324 | (2.0 | ) | 1,000.90 | ||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | 1,717.20 | $ | 6,717.60 | $ | 7,922.70 | $ | 2,720.30 | $ | (8,590.5 | ) | $ | 10,487.30 | ||||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets: | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 23 | $ | 40.5 | $ | 47.5 | $ | — | $ | 111 | Current Liabilities: | |||||||||||||||||||||||||||||||||||||
Receivables | — | 1.4 | 242.9 | 1,161.60 | — | 1,405.90 | Current maturities of long-term borrowings | $ | — | $ | 0.7 | $ | 11.6 | $ | 25.2 | $ | — | $ | 37.5 | |||||||||||||||||||||||||||||||
Inventories, at lower of cost or market | — | 15.9 | 441 | 85.1 | — | 542 | Accounts payable | — | 148.6 | 387.7 | 337 | — | 873.3 | |||||||||||||||||||||||||||||||||||||
Prepayments and other current assets | — | 46.2 | 103.1 | 79 | — | 228.3 | Accrued expenses and other liabilities | 21.2 | 146.1 | 798.1 | 287.4 | 0.1 | 1,252.90 | |||||||||||||||||||||||||||||||||||||
Total current assets | — | 86.5 | 827.5 | 1,373.20 | — | 2,287.20 | Total current liabilities | 21.2 | 295.4 | 1,197.40 | 649.6 | 0.1 | 2,163.70 | |||||||||||||||||||||||||||||||||||||
Property and Equipment, net | — | 24.4 | 751.2 | 201.7 | — | 977.3 | Long-term Borrowings | 595.5 | 4,586.00 | 38.4 | 751.4 | — | 5,971.30 | |||||||||||||||||||||||||||||||||||||
Goodwill | — | 173.1 | 3,994.60 | 452.3 | — | 4,620.00 | Deferred Income Taxes and Other Noncurrent Liabilities | — | 355 | 657.1 | 195.5 | — | 1,207.60 | |||||||||||||||||||||||||||||||||||||
Investment in and Advances to Subsidiaries | 1,062.70 | 6,267.40 | 444.8 | 124.5 | (7,899.4 | ) | — | Intercompany Payable | — | — | 5,294.30 | 1,079.90 | (6,374.2 | ) | — | |||||||||||||||||||||||||||||||||||
Other Intangible Assets | — | 32.6 | 1,230.00 | 146.1 | — | 1,408.70 | Common Stock Subject to Repurchase and other | 167.5 | — | 10.4 | — | — | 177.9 | |||||||||||||||||||||||||||||||||||||
Other Assets | — | 68.4 | 629.5 | 278 | (2.0 | ) | 973.9 | Total Equity | 933 | 1,481.20 | 725.1 | 43.9 | (2,216.4 | ) | 966.8 | |||||||||||||||||||||||||||||||||||
$ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | $ | 1,717.20 | $ | 6,717.60 | $ | 7,922.70 | $ | 2,720.30 | $ | (8,590.5 | ) | $ | 10,487.30 | |||||||||||||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current Liabilities: | CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term borrowings | $ | — | $ | 22.5 | $ | 12 | $ | 31.3 | $ | — | $ | 65.8 | For the year ended September 27, 2013 | |||||||||||||||||||||||||||||||||||||
Accounts payable | — | 147 | 448.3 | 293.7 | — | $ | 889 | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Accrued expenses and other liabilities | 0.3 | 230.2 | 875.6 | 328.3 | 0.1 | $ | 1,434.50 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 0.3 | 399.7 | 1,335.90 | 653.3 | 0.1 | 2,389.30 | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Borrowings | — | 5,101.70 | 40.4 | 616.1 | — | 5,758.20 | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||
Deferred Income Taxes and Other Noncurrent Liabilities | — | 326.2 | 618.3 | 102.5 | — | 1,047.00 | (Parent) | |||||||||||||||||||||||||||||||||||||||||||
Intercompany Payable | — | — | 5,016.00 | 1,305.70 | (6,321.7 | ) | — | Sales | $ | — | $ | 1,034.00 | $ | 8,792.80 | $ | 4,118.80 | $ | — | $ | 13,945.60 | ||||||||||||||||||||||||||||||
Common Stock Subject to Repurchase and Other | 158.7 | — | 10.2 | — | — | 168.9 | ||||||||||||||||||||||||||||||||||||||||||||
Total Stockholders’ Equity | 903.7 | 824.8 | 856.8 | (101.8 | ) | (1,579.8 | ) | 903.7 | Costs and Expenses: | |||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 996.6 | 7,811.80 | 3,852.80 | — | 12,661.20 | ||||||||||||||||||||||||||||||||||||||||||||
$ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | Depreciation and amortization | — | 21 | 418.9 | 102.2 | — | 542.1 | |||||||||||||||||||||||||||||||
Selling and general corporate expenses | 0.9 | 82.5 | 125.7 | 18.8 | — | 227.9 | ||||||||||||||||||||||||||||||||||||||||||||
Interest and other financing costs, net | 51 | 342.4 | (2.7 | ) | 33.1 | — | 423.8 | |||||||||||||||||||||||||||||||||||||||||||
Expense allocations | — | (362.8 | ) | 326.1 | 36.7 | — | — | |||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | 51.9 | 1,079.70 | 8,679.80 | 4,043.60 | — | 13,855.00 | ||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | Income (Loss) from Continuing Operations before Income Taxes | (51.9 | ) | (45.7 | ) | 113 | 75.2 | — | 90.6 | |||||||||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (19.2 | ) | (31.9 | ) | 52.3 | 18 | — | 19.2 | ||||||||||||||||||||||||||||||||||||||||||
For the three months ended March 28, 2014 | Equity in Net Income of Subsidiaries | 102.1 | — | — | — | (102.1 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | Income (Loss) from Continuing Operations | 69.4 | (13.8 | ) | 60.7 | 57.2 | (102.1 | ) | 71.4 | |||||||||||||||||||||||||||||||||||||||||
Loss from Discontinued Operations, net of tax | — | — | (1.0 | ) | — | — | (1.0 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 69.4 | (13.8 | ) | 59.7 | 57.2 | (102.1 | ) | 70. 4 | ||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Less: Net income attributable to noncontrolling interest | — | — | 0.8 | 0.2 | — | 1 | ||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | Net income (loss) attributable to ARAMARK Holdings stockholders | 69.4 | (13.8 | ) | 58.9 | 57 | (102.1 | ) | 69.4 | ||||||||||||||||||||||||||||||||||||||||
(Parent) | Other comprehensive income (loss), net of tax | 14.5 | 34.8 | 0.6 | (19.2 | ) | (16.2 | ) | 14.5 | |||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 248.5 | $ | 2,217.80 | $ | 1,035.70 | $ | — | $ | 3,502.00 | ||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 83.9 | $ | 21 | $ | 59.5 | $ | 37.8 | $ | (118.3 | ) | $ | 83.9 | |||||||||||||||||||||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 221 | 1,967.60 | 971.2 | — | 3,159.80 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 3.1 | 98.9 | 23.3 | — | 125.3 | CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 0.7 | 56.6 | 33.8 | 5 | — | 96.1 | For the year ended September 28, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Interest and other financing costs, net | — | 95.3 | (0.6 | ) | 7.4 | — | 102.1 | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Expense allocations | — | (129.2 | ) | 121.3 | 7.9 | — | — | |||||||||||||||||||||||||||||||||||||||||||
0.7 | 246.8 | 2,221.00 | 1,014.80 | — | 3,483.30 | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Income (Loss) before Income Taxes | (0.7 | ) | 1.7 | (3.2 | ) | 20.9 | — | 18.7 | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (0.3 | ) | 0.5 | (1.8 | ) | 7.2 | — | 5.6 | (Parent) | |||||||||||||||||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 13.3 | — | — | — | (13.3 | ) | — | Sales | $ | — | $ | 1,025.20 | $ | 8,427.60 | $ | 4,052.60 | $ | — | $ | 13,505.40 | ||||||||||||||||||||||||||||||
Net income (loss) | 12.9 | 1.2 | (1.4 | ) | 13.7 | (13.3 | ) | 13.1 | Costs and Expenses: | |||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.2 | — | — | 0.2 | Cost of services provided | — | 962 | 7,478.40 | 3,751.10 | — | 12,191.50 | |||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 19.2 | 403.8 | 106.2 | — | 529.2 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 12.9 | 1.2 | (1.6 | ) | 13.7 | (13.3 | ) | 12.9 | Selling and general corporate expenses | 0.5 | 58.5 | 123 | 21 | — | 203 | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (5.1 | ) | (1.5 | ) | 0.5 | (8.2 | ) | 9.2 | (5.1 | ) | Interest and other financing costs, net | 55 | 364 | (0.4 | ) | 38.2 | — | 456.8 | ||||||||||||||||||||||||||||||||
Expense allocations | — | (353.1 | ) | 316 | 37.1 | — | — | |||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $ | 7.8 | $ | (0.3 | ) | $ | (1.1 | ) | $ | 5.5 | $ | (4.1 | ) | $ | 7.8 | |||||||||||||||||||||||||||||||||||
55.5 | 1,050.60 | 8,320.80 | 3,953.60 | — | 13,380.50 | |||||||||||||||||||||||||||||||||||||||||||||
Income (Loss) from Continuing Operations before Income Taxes | (55.5 | ) | (25.4 | ) | 106.8 | 99 | — | 124.9 | ||||||||||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (20.9 | ) | (9.2 | ) | 30.4 | 17.7 | — | 18 | ||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | Equity in Net Income of Subsidiaries | 138.2 | — | — | — | (138.2 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | Income (Loss) from Continuing Operations | 103.6 | (16.2 | ) | 76.4 | 81.3 | (138.2 | ) | 106. 9 | |||||||||||||||||||||||||||||||||||||||||
Income from Discontinued Operations, net of tax | — | — | 0.3 | — | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||
For the six months ended March 28, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 103.6 | (16.2 | ) | 76.7 | 81.3 | (138.2 | ) | 107. 2 | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | Less: Net income attributable to noncontrolling interest | — | — | 1.1 | 2.5 | — | 3.6 | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 103.6 | (16.2 | ) | 75.6 | 78.8 | (138.2 | ) | 103.6 | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 3.6 | 32.9 | 2.3 | (28.4 | ) | (6.8 | ) | 3.6 | ||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 107.2 | $ | 16.7 | $ | 77.9 | $ | 50.4 | $ | (145.0 | ) | $ | 107.2 | ||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 512.5 | $ | 4,607.80 | $ | 2,144.80 | $ | — | $ | 7,265.10 | CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||||||||||
For the year ended September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 454.7 | 4,069.70 | 1,990.20 | — | 6,514.60 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 8.1 | 205.3 | 48.7 | — | 262.1 | ||||||||||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 6 | 127.4 | 67.3 | 9.6 | — | 210.3 | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Interest and other financing costs | — | 170.5 | (0.7 | ) | 15.6 | — | 185.4 | Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||
Expense allocations | — | (252.3 | ) | 236.1 | 16.2 | — | — | Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
6 | 508.4 | 4,577.70 | 2,080.30 | — | 7,172.40 | Sales | $ | — | $ | 1,012.70 | $ | 8,120.80 | $ | 3,948.90 | $ | — | $ | 13,082.40 | ||||||||||||||||||||||||||||||||
Income (Loss) before Income Taxes | (6.0 | ) | 4.1 | 30.1 | 64.5 | — | 92.7 | Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (2.1 | ) | 1.2 | 13.3 | 22.2 | — | 34.6 | Cost of services provided | — | 948.3 | 7,238.50 | 3,650.00 | — | 11,836.80 | ||||||||||||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 61.6 | — | — | — | (61.6 | ) | — | Depreciation and amortization | — | 20 | 383.2 | 107.3 | — | 510.5 | ||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 1.1 | 56.9 | 107.1 | 22.9 | — | 188 | ||||||||||||||||||||||||||||||||||||||||||||
Net income | 57.7 | 2.9 | 16.8 | 42.3 | (61.6 | ) | 58.1 | Interest and other financing costs, net | 24.9 | 410.3 | 0.1 | 15.9 | — | 451.2 | ||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.4 | — | — | 0.4 | Expense allocations | — | (377.8 | ) | 345.6 | 32.2 | — | — | ||||||||||||||||||||||||||||||||||||
Net income attributable to ARAMARK Holdings stockholders | 57.7 | 2.9 | 16.4 | 42.3 | (61.6 | ) | 57.7 | 26 | 1,057.70 | 8,074.50 | 3,828.30 | — | 12,986.50 | |||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 0.4 | 10.1 | 1.6 | (17.4 | ) | 5.7 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||
Income (Loss) from Continuing Operations before Income Taxes | (26.0 | ) | (45.0 | ) | 46.3 | 120.6 | — | 95.9 | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 58.1 | $ | 13 | $ | 18 | $ | 24.9 | $ | (55.9 | ) | $ | 58.1 | Provision (Benefit) for Income Taxes | (9.8 | ) | (35.6 | ) | 18.9 | 25.8 | — | (0.7 | ) | |||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 100 | — | — | — | (100.0 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Income (Loss) from Continuing Operations | 83.8 | (9.4 | ) | 27.4 | 94.8 | (100.0 | ) | 96.6 | ||||||||||||||||||||||||||||||||||||||||||
Loss from Discontinued Operations, net of tax | — | — | (11.7 | ) | — | — | (11.7 | ) | ||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 83.8 | (9.4 | ) | 15.7 | 94.8 | (100.0 | ) | 84.9 | ||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | Less: Net income attributable to noncontrolling interest | — | — | — | 1.1 | — | 1.1 | |||||||||||||||||||||||||||||||||||||||||||
For the three months ended March 29, 2013 | Net income (loss) attributable to ARAMARK Holdings stockholders | 83.8 | (9.4 | ) | 15.7 | 93.7 | (100.0 | ) | 83.8 | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 51.2 | 42.6 | (1.1 | ) | (0.9 | ) | (40.6 | ) | 51.2 | |||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 135 | $ | 33.2 | $ | 14.6 | $ | 92.8 | $ | (140.6 | ) | $ | 135 | |||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | For the year ended September 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 250.8 | $ | 2,131.90 | $ | 1,021.00 | $ | — | $ | 3,403.70 | ||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 255.1 | 1,896.10 | 981 | — | 3,132.20 | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 4.9 | 104.3 | 26.1 | — | 135.3 | (Parent) | |||||||||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | (0.3 | ) | 21.3 | 30.3 | 4.7 | — | 56 | Net cash provided by operating activities | $ | 599.9 | $ | 97.7 | $ | 585.5 | $ | 64 | $ | (651.2 | ) | $ | 695.9 | |||||||||||||||||||||||||||||
Interest and other financing costs | 37.1 | 103.3 | (0.5 | ) | 7.2 | — | 147.1 | |||||||||||||||||||||||||||||||||||||||||||
Expense allocations | — | (121.8 | ) | 114.8 | 7 | — | — | Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment and client contract investments | — | (14.3 | ) | (292.4 | ) | (86.2 | ) | — | (392.9 | ) | ||||||||||||||||||||||||||||||||||||||||
36.8 | 262.8 | 2,145.00 | 1,026.00 | — | 3,470.60 | Disposals of property and equipment | — | — | 5.4 | 5.9 | — | 11.3 | ||||||||||||||||||||||||||||||||||||||
Proceeds from divestitures | — | — | 0.9 | — | — | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||
Loss before Income Taxes | (36.8 | ) | (12.0 | ) | (13.1 | ) | (5.0 | ) | — | (66.9 | ) | Acquisitions of businesses, net of cash acquired | — | — | (22.6 | ) | — | — | (22.6 | ) | ||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (13.8 | ) | (7.5 | ) | (6.8 | ) | 1.1 | — | (27.0 | ) | Other investing activities | — | (1.4 | ) | 27.4 | (8.1 | ) | — | 17.9 | |||||||||||||||||||||||||||||||
Equity in Net Loss of Subsidiaries | (17.1 | ) | — | — | — | 17.1 | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | — | (15.7 | ) | (281.3 | ) | (88.4 | ) | — | (385.4 | ) | ||||||||||||||||||||||||||||||||||||||||
Net loss | (40.1 | ) | (4.5 | ) | (6.3 | ) | (6.1 | ) | 17.1 | (39.9 | ) | |||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.2 | — | — | 0.2 | Cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from additional long-term borrowings | — | 3,071.40 | — | 9.1 | — | 3,080.50 | ||||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to ARAMARK Holdings stockholders | (40.1 | ) | (4.5 | ) | (6.5 | ) | (6.1 | ) | 17.1 | (40.1 | ) | Payments of long-term borrowings | (600.0 | ) | (2,521.2 | ) | (13.7 | ) | (180.0 | ) | — | (3,314.9 | ) | |||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (20.8 | ) | 11 | (3.0 | ) | (38.0 | ) | 30 | (20.8 | ) | Net change in funding under the Receivables Facility | — | — | — | 36.2 | — | 36.2 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 5.6 | — | — | — | 5.6 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $ | (60.9 | ) | $ | 6.5 | $ | (9.5 | ) | $ | (44.1 | ) | $ | 47.1 | $ | (60.9 | ) | Repurchase of common stock | — | (42.4 | ) | — | — | — | (42.4 | ) | |||||||||||||||||||||||||
Distribution in connection with spin-off of Seamless | — | (47.4 | ) | — | — | — | (47.4 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other financing activities | — | (50.3 | ) | (2.7 | ) | (0.9 | ) | — | (53.9 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in intercompany, net | — | (502.1 | ) | (289.0 | ) | 139.9 | 651.2 | — | ||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | Net cash provided by (used in) financing activities | (600.0 | ) | (86.4 | ) | (305.4 | ) | 4.3 | 651.2 | (336.3 | ) | |||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | Decrease in cash and cash equivalents | (0.1 | ) | (4.4 | ) | (1.2 | ) | (20.1 | ) | — | (25.8 | ) | ||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 0.1 | 27.4 | 41.7 | 67.6 | — | 136.8 | ||||||||||||||||||||||||||||||||||||||||||||
For the six months ended March 29, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 23 | $ | 40.5 | $ | 47.5 | $ | — | $ | 111 | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended September 28, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 507.9 | $ | 4,351.10 | $ | 2,080.70 | $ | — | $ | 6,939.70 | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | (Parent) | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 494.4 | 3,845.00 | 1,964.40 | — | 6,303.80 | Net cash provided by operating activities | $ | — | $ | 62.2 | $ | 532.5 | $ | 178.7 | $ | (81.7 | ) | $ | 691.7 | ||||||||||||||||||||||||||||||
Depreciation and amortization | — | 9.8 | 206.7 | 52.2 | — | 268.7 | Cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 0.8 | 39.4 | 61.7 | 9.7 | — | 111.6 | Purchases of property and equipment and client contract investments | — | (11.7 | ) | (262.0 | ) | (80.9 | ) | — | (354.6 | ) | |||||||||||||||||||||||||||||||||
Interest and other financing costs | 51 | 191 | (0.5 | ) | 19 | — | 260.5 | Disposals of property and equipment | — | 0.7 | 5.2 | 5.8 | — | 11.7 | ||||||||||||||||||||||||||||||||||||
Expense allocations | — | (207.9 | ) | 196.6 | 11.3 | — | — | Proceeds from divestiture | — | — | 6.5 | — | — | 6.5 | ||||||||||||||||||||||||||||||||||||
Acquisitions of businesses | — | — | (139.9 | ) | (11.9 | ) | — | (151.8 | ) | |||||||||||||||||||||||||||||||||||||||||
51.8 | 526.7 | 4,309.50 | 2,056.60 | — | 6,944.60 | Other investing activities | — | 1.3 | 3.6 | 1.7 | — | 6.6 | ||||||||||||||||||||||||||||||||||||||
Income (Loss) before Income Taxes | (51.8 | ) | (18.8 | ) | 41.6 | 24.1 | — | (4.9 | ) | Net cash used in investing activities | — | (9.7 | ) | (386.6 | ) | (85.3 | ) | — | (481.6 | ) | ||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (19.4 | ) | (11.6 | ) | 11.9 | 10.9 | — | (8.2 | ) | |||||||||||||||||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 35.1 | — | — | — | (35.1 | ) | — | Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | — | — | 0.2 | 3.2 | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 2.7 | (7.2 | ) | 29.7 | 13.2 | (35.1 | ) | 3.3 | Payments of long-term borrowings | — | (250.7 | ) | (12.9 | ) | (25.3 | ) | — | (288.9 | ) | |||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.4 | 0.2 | — | 0.6 | Net change in funding under the Receivables Facility | — | — | — | 37.9 | — | 37.9 | |||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 11.3 | — | — | — | 11.3 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 2.7 | (7.2 | ) | 29.3 | 13 | (35.1 | ) | 2.7 | Repurchase of common stock | — | (37.7 | ) | — | — | — | (37.7 | ) | |||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (16.1 | ) | 24.6 | (3.0 | ) | (44.3 | ) | 22.7 | (16.1 | ) | Other financing activities | — | (6.1 | ) | (3.8 | ) | (2.8 | ) | — | (12.7 | ) | |||||||||||||||||||||||||||||
Change in intercompany, net | — | 120.7 | (119.4 | ) | (83.0 | ) | 81.7 | — | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $ | (13.4 | ) | $ | 17.4 | $ | 26.3 | $ | (31.3 | ) | $ | (12.4 | ) | $ | (13.4 | ) | ||||||||||||||||||||||||||||||||||
Net cash used in financing activities | — | (162.5 | ) | (135.9 | ) | (70.0 | ) | 81.7 | (286.7 | ) | ||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in cash and cash equivalents | — | (110.0 | ) | 10 | 23.4 | — | (76.6 | ) | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 0.1 | 137.4 | 31.7 | 44.2 | — | 213.4 | ||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 0.1 | $ | 27.4 | $ | 41.7 | $ | 67.6 | $ | — | $ | 136.8 | ||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
For the six months ended March 28, 2014 | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | |||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | (Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | Net cash provided by (used in) operating activities | $ | 131.9 | $ | 38.2 | $ | 456 | $ | (115.9 | ) | $ | (206.6 | ) | $ | 303.6 | |||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (3.4 | ) | $ | 56.6 | $ | (143.7 | ) | $ | (33.7 | ) | $ | (3.2 | ) | $ | (127.4 | ) | Cash flows from investing activities: | ||||||||||||||||||||||||||||||||
Purchases of property and equipment and client contract investments | — | (9.5 | ) | (206.3 | ) | (77.9 | ) | — | (293.7 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | Disposals of property and equipment | — | 1 | 10 | 10.5 | — | 21.5 | |||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment, client contract investments and other | — | (9.0 | ) | (134.5 | ) | (28.7 | ) | — | (172.2 | ) | Proceeds from divestitures | — | — | 71.5 | 11.6 | 83.1 | ||||||||||||||||||||||||||||||||||
Disposals of property and equipment | — | 7.8 | 2.2 | 2.6 | — | 12.6 | Acquisitions of businesses | — | — | (157.0 | ) | — | — | (157.0 | ) | |||||||||||||||||||||||||||||||||||
Proceeds from divestiture | — | — | 24 | — | — | 24 | Other investing activities | — | 0.7 | (13.7 | ) | (4.0 | ) | — | (17.0 | ) | ||||||||||||||||||||||||||||||||||
Acquisitions of businesses, net of cash acquired | — | — | (5.2 | ) | (5.6 | ) | — | (10.8 | ) | |||||||||||||||||||||||||||||||||||||||||
Other investing activities | — | 0.1 | 6.8 | (1.8 | ) | — | 5.1 | Net cash used in investing activities | — | (7.8 | ) | (295.5 | ) | (59.8 | ) | — | (363.1 | ) | ||||||||||||||||||||||||||||||||
Net cash used in investing activities | — | (1.1 | ) | (106.7 | ) | (33.5 | ) | — | (141.3 | ) | Cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | 594 | — | 0.2 | 22 | — | 616.2 | ||||||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | Payments of long-term borrowings | — | (5.7 | ) | (13.5 | ) | (12.0 | ) | — | (31.2 | ) | |||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | — | 1,430.70 | — | 303.6 | — | 1,734.30 | Net change in funding under the Receivables Facility | — | — | — | 225.9 | 225.9 | ||||||||||||||||||||||||||||||||||||||
Payments of long-term borrowings | — | (1,824.4 | ) | (6.8 | ) | (85.9 | ) | — | (1,917.1 | ) | Proceeds from issuance of common stock | — | 4.6 | — | — | — | 4.6 | |||||||||||||||||||||||||||||||||
Net change in funding under the Receivables Facility | — | — | — | — | — | — | Repurchase of common stock | — | (16.1 | ) | — | — | — | (16.1 | ) | |||||||||||||||||||||||||||||||||||
Payment of dividends | — | (17.3 | ) | — | — | — | (17.3 | ) | Dividends paid | (711.2 | ) | (132.9 | ) | — | (73.7 | ) | 206.6 | (711.2 | ) | |||||||||||||||||||||||||||||||
Proceeds from initial public offering, net | 524.1 | — | — | — | — | 524.1 | Net proceeds from sale of subsidiary shares to noncontrolling interest | — | 48.4 | — | — | 48.4 | ||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 3.4 | — | — | — | 3.4 | Other financing activities | (14.6 | ) | (6.6 | ) | (3.1 | ) | (0.3 | ) | — | (24.6 | ) | ||||||||||||||||||||||||||||||||
Repurchase of common stock | — | (1.5 | ) | — | — | — | (1.5 | ) | Change in intercompany, net | — | 135.9 | (146.2 | ) | 10.3 | — | — | ||||||||||||||||||||||||||||||||||
Other financing activities | — | (23.9 | ) | (1.9 | ) | (3.2 | ) | — | (29.0 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in intercompany, net | (520.7 | ) | 384.6 | 262.4 | (129.5 | ) | 3.2 | — | Net cash provided by (used in) financing activities | (131.8 | ) | 27.6 | (162.6 | ) | 172.2 | 206.6 | 112 | |||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 3.4 | (48.4 | ) | 253.7 | 85 | 3.2 | 296.9 | Increase (Decrease) in cash and cash equivalents | 0.1 | 58 | (2.1 | ) | (3.5 | ) | — | 52.5 | ||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | 79.4 | 33.8 | 47.7 | — | 160.9 | ||||||||||||||||||||||||||||||||||||||||||||
Increase in cash and cash equivalents | — | 7.1 | 3.3 | 17.8 | — | 28.2 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | 23 | 40.5 | 47.5 | — | 111 | Cash and cash equivalents, end of period | $ | 0.1 | $ | 137.4 | $ | 31.7 | $ | 44.2 | $ | — | $ | 213.4 | |||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 30.1 | $ | 43.8 | $ | 65.3 | $ | — | $ | 139.2 | ||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
For the six months ended March 29, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 609.4 | $ | 22.8 | $ | 48.7 | $ | 13.3 | $ | (643.1 | ) | $ | 51.1 | |||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment, client contract investments and other | — | (5.2 | ) | (130.5 | ) | (31.5 | ) | — | (167.2 | ) | ||||||||||||||||||||||||||||||||||||||||
Disposals of property and equipment | — | — | 2.3 | 4.2 | — | 6.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from divestitures | — | — | 0.9 | — | — | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||
Acquisitions of businesses, net of cash acquired | — | — | (22.5 | ) | — | — | (22.5 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other investing activities | — | 3.1 | 26.8 | (6.9 | ) | — | 23 | |||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | — | (2.1 | ) | (123.0 | ) | (34.2 | ) | — | (159.3 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | — | 3,168.30 | — | 62.4 | — | 3,230.70 | ||||||||||||||||||||||||||||||||||||||||||||
Payments of long-term borrowings | (600.0 | ) | (2,255.8 | ) | (6.8 | ) | (181.0 | ) | — | (3,043.6 | ) | |||||||||||||||||||||||||||||||||||||||
Net change in funding under the Receivables Facility | — | — | — | 36.2 | — | 36.2 | ||||||||||||||||||||||||||||||||||||||||||||
Distribution in connection with spin-off of Seamless Holdings | — | (47.4 | ) | — | — | — | (47.4 | ) | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 4.4 | — | — | — | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | (33.2 | ) | — | — | — | (33.2 | ) | ||||||||||||||||||||||||||||||||||||||||||
Other financing activities | (9.4 | ) | (44.9 | ) | (1.2 | ) | (0.4 | ) | — | (55.9 | ) | |||||||||||||||||||||||||||||||||||||||
Change in intercompany, net | — | (814.4 | ) | 79.9 | 91.4 | 643.1 | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (609.4 | ) | (23.0 | ) | 71.9 | 8.6 | 643.1 | 91.2 | ||||||||||||||||||||||||||||||||||||||||||
Decrease in cash and cash equivalents | — | (2.3 | ) | (2.4 | ) | (12.3 | ) | — | (17.0 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 0.1 | 27.4 | 41.7 | 67.5 | — | 136.7 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 0.1 | $ | 25.1 | $ | 39.3 | $ | 55.2 | $ | — | $ | 119.7 | ||||||||||||||||||||||||||||||||||||||
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Mar. 28, 2014 | |
Accounting Policies [Abstract] | ' |
BASIS OF PRESENTATION | ' |
(1) BASIS OF PRESENTATION: | |
On January 26, 2007, ARAMARK Holdings Corporation (the “Company” or “Holdings”), a Delaware corporation controlled by investment funds associated with GS Capital Partners, CCMP Capital Advisors, J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC (collectively, the “Sponsors”), Joseph Neubauer, Chairman and former Chief Executive Officer of the Company, and certain other members of the Company’s management, acquired all of the outstanding shares of the Company’s wholly-owned subsidiary, ARAMARK Corporation (“ARAMARK Corporation”), in a going-private transaction. | |
On December 12, 2013, the Company began trading its common stock on the New York Stock Exchange under the symbol “ARMK” after its initial public offering (“IPO”) of 28,000,000 shares of its common stock at a price of $20.00 per share (see Note 8). | |
The condensed consolidated financial statements include the accounts of the Company and all of its subsidiaries in which a controlling financial interest is maintained. All significant intercompany transactions and accounts have been eliminated. The Company has an ownership interest in a subsidiary with a redeemable noncontrolling interest. The Company classifies redeemable noncontrolling interests outside of stockholders’ equity in the Condensed Consolidated Balance Sheets in “Common Stock Subject to Repurchase and Other.” As of March 28, 2014 and September 27, 2013, the redeemable noncontrolling interest related to the subsidiary was approximately $10.2 million and $10.2 million, respectively. For the three and six months ended March 28, 2014, net income attributable to redeemable noncontrolling interest was $0.2 million and $0.4 million, respectively. Distributions to redeemable noncontrolling interest was $0.4 million for the six months ended March 28, 2014. For the three and six months ended March 29, 2013, net income attributable to redeemable noncontrolling interest was $0.2 million and $0.4 million, respectively. Distributions to redeemable noncontrolling interest was $0.4 million for the six months ended March 29, 2013. | |
The condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited consolidated financial statements, and the notes to those statements, included in the Company’s prospectus, dated December 11, 2013, filed with the SEC pursuant to Rule 424(b) of the Securities Act of 1933, on December 12, 2013. The Condensed Consolidated Balance Sheet as of September 27, 2013 was derived from audited financial statements which have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of the Company, the statements include all adjustments, which are of a normal, recurring nature, required for a fair presentation for the periods presented. The results of operations for interim periods are not necessarily indicative of the results for a full year, due to the seasonality of some of the Company’s business activities and the possibility of changes in general economic conditions. |
SUPPLEMENTAL_FINANCIAL_INFORMA
SUPPLEMENTAL FINANCIAL INFORMATION | 6 Months Ended | ||||||||
Mar. 28, 2014 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
SUPPLEMENTAL FINANCIAL INFORMATION | ' | ||||||||
(3) SUPPLEMENTAL FINANCIAL INFORMATION: | |||||||||
The Company made interest payments of approximately $192.7 million and $237.5 million and income tax payments of approximately $43.6 million and $52.4 million during the six months ended March 28, 2014 and March 29, 2013, respectively. | |||||||||
As of March 28, 2014 and September 27, 2013, “Accumulated other comprehensive loss” consists of pension plan adjustments (net of tax) of approximately ($30.8) million and ($30.5) million, respectively, foreign currency translation adjustments (net of tax) of approximately $2.3 million and $3.3 million, respectively, fair value of cash flow hedges (net of tax) of approximately ($22.3) million and ($24.0) million, respectively, and share of equity investees’ accumulated other comprehensive loss (net of tax) of approximately ($8.0) million and ($8.0) million, respectively. | |||||||||
For the three and six months ended March 28, 2014 and March 29, 2013, the tax effects on comprehensive income (loss) were as follows (in thousands): | |||||||||
Three Months | Three Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Foreign currency translation adjustments | $ | 1,430 | $ | 2,707 | |||||
Fair value of cash flow hedges | 1,654 | (1,690 | ) | ||||||
Pension plan adjustments | 82 | 294 | |||||||
Six Months | Six Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Foreign currency translation adjustments | $ | 4,027 | $ | 7,021 | |||||
Fair value of cash flow hedges | (1,343 | ) | (5,536 | ) | |||||
Pension plan adjustments | 166 | 611 |
EQUITY_INVESTMENTS
EQUITY INVESTMENTS | 6 Months Ended | ||||||||
Mar. 28, 2014 | |||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||
EQUITY INVESTMENTS | ' | ||||||||
(11) EQUITY INVESTMENTS: | |||||||||
The Company’s principal equity method investment is its 50% ownership interest in AIM Services Co., Ltd., a Japanese food and support services company (approximately $184.6 million and $190.7 million at March 28, 2014 and September 27, 2013, respectively, which is included in “Other Assets” in the Condensed Consolidated Balance Sheets). Summarized financial information for AIM Services Co., Ltd. follows (in thousands): | |||||||||
Three Months | Three Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Sales | $ | 366,242 | $ | 414,571 | |||||
Gross profit | 39,543 | 45,665 | |||||||
Net income | 5,589 | 5,978 | |||||||
Six Months | Six Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Sales | $ | 765,343 | $ | 895,472 | |||||
Gross profit | 85,564 | 102,405 | |||||||
Net income | 13,332 | 15,380 | |||||||
The period to period comparisons of the summarized financial information for AIM Services Co., Ltd., presented in U.S. dollars above, is significantly impacted by currency translation. ARAMARK’s equity in undistributed earnings of AIM Services Co., Ltd., net of amortization related to purchase accounting for the 2007 going-private transaction, was $2.2 million and $5.4 million for the three and six months ended March 28, 2014, respectively. ARAMARK’s equity in undistributed earnings of AIM Services Co., Ltd., net of amortization related to purchase accounting for the 2007 going-private transaction, was $1.3 million and $5.2 million for the three and six months ended March 29, 2013, respectively. |
NEW_ACCOUNTING_STANDARD_UPDATE
NEW ACCOUNTING STANDARD UPDATES | 6 Months Ended |
Mar. 28, 2014 | |
Accounting Changes And Error Corrections [Abstract] | ' |
NEW ACCOUNTING STANDARD UPDATES | ' |
(13) NEW ACCOUNTING STANDARD UPDATES: | |
In December 2011, the FASB issued an accounting standard update (“ASU”) that requires companies with financial instruments and derivative instruments that are offset on the balance sheet or subject to a master netting arrangement to provide additional disclosures regarding the instruments impact on a company’s financial position. In January 2013, the FASB issued an accounting standard update to clarify the scope of this ASU. The Company adopted the guidance in the first quarter of fiscal 2014 which did not have a material impact on the condensed consolidated financial statements. | |
In February 2013, the FASB issued an ASU which requires companies to disclose information about reclassifications out of accumulated other comprehensive income (“AOCI”). Companies also are required to present reclassifications by component when reporting changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the period, companies must report the effect of the reclassifications on the respective line items in the statement where net income is presented. The Company adopted the guidance in the first quarter of fiscal 2014 which did not have a material impact on the condensed consolidated financial statements. | |
In July 2013, the FASB issued an ASU which requires unrecognized tax benefits to be offset against a deferred tax asset for a net operating loss carryforward, similar tax loss or tax credit carryforward in certain situations. The guidance will likely change the balance sheet presentation of certain unrecognized tax benefits. The guidance is effective in the first quarter of fiscal 2015. The Company is currently evaluating the impact of the pronouncement. | |
In January 2014, the FASB issued an ASU which states that companies should not account for certain service concession arrangements with public-sector entities as leases and should not recognize the related infrastructure as property, plant and equipment. The guidance is effective for the Company beginning in the second quarter of fiscal 2015. The Company is currently evaluating the impact of the pronouncement. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 6 Months Ended | ||||||||
Mar. 28, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
EARNINGS PER SHARE | ' | ||||||||
(16) EARNINGS PER SHARE: | |||||||||
Basic earnings per share is computed using the weighted average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of stock awards. | |||||||||
The following table sets forth the computation of basic and diluted earnings per share attributable to ARAMARK Holdings stockholders (in thousands, except per share data): | |||||||||
Three Months | Three Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Earnings: | |||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | $ | 12,916 | $ | (40,104 | ) | ||||
Shares: | |||||||||
Basic weighted-averages shares outstanding | 230,693 | 201,468 | |||||||
Effect of dilutive securities | 12,683 | — | |||||||
Diluted weighted-averages shares outstanding | 243,376 | 201,468 | |||||||
Basic Earnings Per Share: | |||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | $ | 0.06 | $ | (0.20 | ) | ||||
Diluted Earnings Per Share: | |||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | $ | 0.05 | $ | (0.20 | ) | ||||
Six Months | Six Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Earnings: | |||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 57,678 | $ | 2,710 | |||||
Shares: | |||||||||
Basic weighted-averages shares outstanding | 218,653 | 201,728 | |||||||
Effect of dilutive securities | 10,757 | 7,113 | |||||||
Diluted weighted-averages shares outstanding | 229,410 | 208,841 | |||||||
Basic Earnings Per Share: | |||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 0.26 | $ | 0.01 | |||||
Diluted Earnings Per Share: | |||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 0.25 | $ | 0.01 | |||||
Share-based awards to purchase 8.8 million shares were outstanding for the three month period of fiscal 2013, but were not included in the computation of diluted earnings per share, as their effect would have been antidilutive. In addition, performance-based options and performance stock units to purchase 2.3 million and 10.0 million shares were outstanding for the three month periods of fiscal 2014 and fiscal 2013, respectively, but were not included in the computation of diluted earnings per share, as the performance targets were not yet met. Share-based awards to purchase 3.7 million and 6.4 million shares were outstanding for the six month periods of fiscal 2014 and fiscal 2013, respectively, but were not included in the computation of diluted earnings per share, as their effect would have been antidilutive. In addition, performance-based options and performance stock units to purchase 3.9 million and 10.3 million shares were outstanding during the six month periods of fiscal 2014 and fiscal 2013, respectively, but were not included in the computation of diluted earnings per share, as the performance targets were not yet met. |
BASIS_OF_PRESENTATION_AND_SUMM1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Fiscal Year | ' | ||||||||||||
Fiscal Year | |||||||||||||
The Company’s fiscal year is the fifty-two or fifty-three week period which ends on the Friday nearest September 30th. The fiscal years ended September 27, 2013, September 28, 2012 and September 30, 2011 were each fifty-two week periods. | |||||||||||||
New Accounting Standard Updates | ' | ||||||||||||
New Accounting Standard Updates | |||||||||||||
In December 2011, the FASB issued an accounting standard update (“ASU”) that requires companies with financial instruments and derivative instruments that are offset on the balance sheet or subject to a master netting arrangement to provide additional disclosures regarding the instruments impact on a company’s financial position. In January 2013, the FASB issued an accounting standard update to clarify the scope of this ASU. The guidance is effective for the Company beginning in the first quarter of fiscal 2014. The Company is currently evaluating the impact of this pronouncement. | |||||||||||||
In September 2011, the FASB issued an accounting standard update that simplifies how entities test goodwill for impairment. The amendment permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. The Company adopted the guidance beginning in fiscal 2013 which did not have a material impact on the consolidated financial statements. | |||||||||||||
In June 2011, the FASB issued an accounting standard update that modifies the presentation of comprehensive income in the financial statements. The standard requires an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. This standard eliminates the current option to report other comprehensive income and its components in the statement of changes in equity. The Company adopted the guidance retrospectively beginning in the first quarter of fiscal 2013 which only resulted in changes to the presentation of the consolidated financial statements. | |||||||||||||
In June 2012, the FASB issued an accounting standard update which amends the guidance on testing indefinite-lived intangible assets, other than goodwill, for impairment. The amendment permits an entity to perform a qualitative impairment assessment before proceeding to the two-step impairment test. The Company adopted the guidance beginning in fiscal 2013 which did not have a material impact on the consolidated financial statements. | |||||||||||||
In February 2013, the FASB issued an accounting standard update which requires companies to disclose information about reclassifications out of accumulated other comprehensive income (“AOCI”). Companies also are required to present reclassifications by component when reporting changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the period, companies must report the effect of the reclassifications on the respective line items in the statement where net income is presented. The guidance is effective for the Company beginning in the first quarter of fiscal 2014. The Company is currently evaluating the impact of this pronouncement. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
The Company recognizes sales when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the fee is fixed and determinable and collectability is reasonably assured. In each of the Company’s reportable segments, sales are recognized in the period in which services are provided pursuant to the terms of the Company’s contractual relationships with its clients. The Company generally records sales on food and support services contracts (both profit and loss contracts and client interest contracts) on a gross basis as the Company is the primary obligor and service provider. | |||||||||||||
Certain profit and loss contracts include commissions paid to the client, typically calculated as a fixed or variable percentage of various categories of sales. In some cases these contracts require minimum guaranteed commissions. Commissions paid to clients are recorded in “Cost of services provided.” | |||||||||||||
Sales from client interest contracts are generally comprised of amounts billed to clients for food, labor and other costs that the Company incurs, controls and pays for. Sales from client interest contracts also include any associated management fees, client subsidies or incentive fees based upon the Company’s performance under the contract. Sales from direct marketing activities are recognized upon shipment. All sales related taxes are presented on a net basis. | |||||||||||||
Vendor Consideration | ' | ||||||||||||
Vendor Consideration | |||||||||||||
Consideration received from vendors include rebates, allowances and volume discounts and are accounted for as an adjustment to the cost of the vendors’ products or services and are reported as a reduction of “Cost of services provided,” “Inventory,” or “Property and Equipment.” Income from rebates, allowances and volume discounts is recognized based on actual purchases in the fiscal period relative to total actual or forecasted purchases to be made over the contractual rebate period agreed to with the vendor. Rebates, allowances and volume discounts related to Inventory held at the balance sheet date are deducted from the carrying value of these inventories. Rebates, allowances and volume discounts related to Property and Equipment are deducted from the costs capitalized. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
Comprehensive Income | ' | ||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income includes all changes to stockholders’ equity during a period, except those resulting from investments by and distributions to stockholders. Components of comprehensive income include net income (loss), changes in foreign currency translation adjustments (net of tax), pension plan adjustments (net of tax), changes in the fair value of cash flow hedges (net of tax) and changes to the share of any equity investees’ comprehensive income (net of tax). | |||||||||||||
The tax effects on comprehensive income were as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Pension plan adjustments | $ | (10,198 | ) | $ | 8,646 | $ | 2,207 | ||||||
Foreign currency translation adjustments | 13,690 | 2,684 | (5,515 | ) | |||||||||
Fair value of cash flow hedges | (5,776 | ) | (22,197 | ) | (36,050 | ) | |||||||
Share of equity investee’s comprehensive loss | (1,510 | ) | 7,200 | — | |||||||||
Accumulated other comprehensive loss consists of the following (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Pension plan adjustments | $ | (30,523 | ) | $ | (50,268 | ) | |||||||
Foreign currency translation adjustments | 3,287 | 20,429 | |||||||||||
Fair value of cash flow hedges | (23,994 | ) | (33,106 | ) | |||||||||
Share of equity investee’s Accumulated Other Comprehensive loss | (7,995 | ) | (10,800 | ) | |||||||||
$ | (59,225 | ) | $ | (73,745 | ) | ||||||||
Currency Translation | ' | ||||||||||||
Currency Translation | |||||||||||||
Gains and losses resulting from the translation of financial statements of non-U.S. subsidiaries are reflected as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Transaction gains and losses included in operating results for fiscal 2013, fiscal 2012 and fiscal 2011 were not material. | |||||||||||||
Current Assets | ' | ||||||||||||
Current Assets | |||||||||||||
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |||||||||||||
Inventories are valued at the lower of cost (principally the first-in, first-out method) or market. Personalized work apparel, linens and other rental items in service are recorded at cost and are amortized over their estimated useful lives, which primarily range from one to four years. The amortization rates used are based on the Company’s specific experience. | |||||||||||||
The components of inventories are as follows: | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Food | 40.4 | % | 39.5 | % | |||||||||
Career apparel and linens | 56.5 | % | 57.2 | % | |||||||||
Parts, supplies and novelties | 3.1 | % | 3.3 | % | |||||||||
100 | % | 100 | % | ||||||||||
Property and Equipment | ' | ||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at cost and are depreciated over their estimated useful lives on a straight-line basis. Gains and losses on dispositions are included in operating results. Maintenance and repairs are charged to current operations, and replacements and significant improvements that extend the useful life of the asset are capitalized. The estimated useful lives for the major categories of property and equipment are 10 to 40 years for buildings and improvements and 3 to 10 years for service equipment and fixtures. Depreciation expense during fiscal 2013, fiscal 2012 and fiscal 2011 was $239.1 million, $236.6 million, and $234.5 million, respectively. | |||||||||||||
Other Assets | ' | ||||||||||||
Other Assets | |||||||||||||
Other assets consist primarily of investments in 50% or less owned entities, client contract investments, deferred financing costs, computer software costs and long-term receivables. Investments in which the Company owns more than 20% but less than a majority are accounted for using the equity method. Investments in which the Company owns less than 20% are accounted for under the cost method. Client contract investments generally represent a cash payment provided by the Company to help finance improvement or renovation at the facility from which the Company operates. These amounts are amortized over the contract period. If a contract is terminated prior to its maturity date, the Company is generally reimbursed for the unamortized client contract investment amount. Amortization expense for client contract investments was $100.9 million, $86.9 million and $76.7 million during fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||||||
The Company’s principal equity method investment is its 50% ownership interest in AIM Services Co., Ltd., a Japanese food and support services company (approximately $190.7 million and $233.4 million at September 27, 2013 and September 28, 2012, respectively, which is included in “Other Assets” in the Consolidated Balance Sheets). Summarized financial information for AIM Services Co., Ltd. follows (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Current assets | $ | 353,240 | $ | 433,584 | |||||||||
Noncurrent assets | 169,469 | 222,813 | |||||||||||
Current liabilities | 291,926 | 374,062 | |||||||||||
Noncurrent liabilities | 50,880 | 74,680 | |||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Sales | $ | 1,693,598 | $ | 1,916,620 | $ | 1,772,143 | |||||||
Gross profit | 192,857 | 222,033 | 222,970 | ||||||||||
Net income | 29,236 | 39,174 | 41,949 | ||||||||||
The period to period comparisons of the summarized financial information for AIM Services Co., Ltd., presented in U.S. dollars above, is significantly impacted by currency translation. The Company’s equity in undistributed earnings of AIM Services Co., Ltd., net of amortization related to purchase accounting for the 2007 going-private transaction (the “2007 Transaction”), was $11.5 million, $14.7 million and $18.0 million for fiscal 2013, fiscal 2012 and fiscal 2011, respectively, and is recorded as a reduction of “Cost of services provided” in the Consolidated Statements of Income. During fiscal 2013, fiscal 2012 and fiscal 2011, the Company received $7.9 million, $34.9 million and $10.5 million of cash distributions from AIM Services Co., Ltd, respectively. | |||||||||||||
Other Accrued Expenses and Liabilities | ' | ||||||||||||
Other Accrued Expenses and Liabilities | |||||||||||||
Accrued expenses and other current liabilities consist principally of insurance accruals, advanced payments from clients, taxes, interest, fair value of interest rate swaps and accrued commissions. Advanced payments from clients as of September 27, 2013 and September 28, 2012 were $292.9 million and $278.5 million, respectively. The Company is self-insured for the risk retained under its health and welfare and general liability and workers’ compensation arrangements. Self-insurance reserves are recorded based on historical claims experience and actuarial analyses. As of September 27, 2013 and September 28, 2012, $93.2 million and $92.2 million of insurance accruals were included in accrued expenses and other current liabilities, respectively. | |||||||||||||
Noncurrent liabilities consist primarily of deferred compensation, insurance accruals, pension liabilities, environmental obligations, fair value of interest rate swaps and other hedging agreements and asset retirement obligations. | |||||||||||||
Share-Based Compensation | ' | ||||||||||||
Share-Based Compensation | |||||||||||||
The Company recognizes compensation cost related to share-based payment transactions in the consolidated financial statements. The cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity award). See Note 11 for additional information on share-based compensation. | |||||||||||||
Earnings Per Share | ' | ||||||||||||
Earnings Per Share | |||||||||||||
Basic earnings per share is computed using the weighted average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of stock awards. | |||||||||||||
The following table sets forth the computation of basic and diluted earnings per share attributable to ARAMARK Holdings stockholders (in thousands, except per share data): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Earnings: | |||||||||||||
Income from Continuing Operations attributable to ARAMARK Holdings stockholders | $ | 70,386 | $ | 103,254 | $ | 95,578 | |||||||
Income (loss) from Discontinued Operations attributable to ARAMARK Holdings stockholders | (1,030 | ) | 297 | (11,732 | ) | ||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 69,356 | $ | 103,551 | $ | 83,846 | |||||||
Shares: | |||||||||||||
Basic weighted-averages shares outstanding | 201,916 | 203,211 | 203,525 | ||||||||||
Effect of dilutive securities | 7,454 | 6,496 | 6,474 | ||||||||||
Basic weighted-averages shares outstanding | 209,370 | 209,707 | 209,999 | ||||||||||
Earnings Per Share attributable to ARAMARK Holdings stockholders: | |||||||||||||
Basic: | |||||||||||||
Income from Continuing Operations | $ | 0.35 | $ | 0.51 | $ | 0.47 | |||||||
Income (loss) from Discontinued Operations | (0.01 | ) | — | (0.06 | ) | ||||||||
Net income | $ | 0.34 | $ | 0.51 | $ | 0.41 | |||||||
Diluted: | |||||||||||||
Income from Continuing Operations | $ | 0.34 | $ | 0.49 | $ | 0.46 | |||||||
Income (loss) from Discontinued Operations | (0.01 | ) | — | (0.06 | ) | ||||||||
Net income | $ | 0.33 | $ | 0.49 | $ | 0.4 | |||||||
Share-based awards to purchase 6.0 million, 3.2 million and 7.2 million shares were outstanding at September 27, 2013, September 28, 2012 and September 30, 2011, respectively, but were not included in the computation of diluted earnings per share, as their effect would have been antidilutive. In addition, performance-based options to purchase 7.8 million, 8.7 million and 7.2 million shares were outstanding at September 27, 2013, September 28, 2012 and September 30, 2011, respectively, but were not included in the computation of diluted earnings per share, as the performance targets were not met. | |||||||||||||
Supplemental Cash Flow Information | ' | ||||||||||||
Supplemental Cash Flow Information | |||||||||||||
(dollars in millions) | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Interest paid | $ | 350.6 | $ | 422.5 | $ | 386.4 | |||||||
Income taxes paid | $ | 74.8 | $ | 82.5 | $ | 64.9 | |||||||
Significant noncash activities follow: | |||||||||||||
• | During fiscal 2013, fiscal 2012 and fiscal 2011, the Company executed capital lease transactions. The present value of the future rental obligations was approximately $16.1 million, $17.0 million and $16.2 million for the respective periods, which is included in property and equipment and long-term borrowings. | ||||||||||||
• | During fiscal 2013, fiscal 2012 and fiscal 2011, approximately $3.5 million, $6.7 million and $4.8 million of common stock of the Company was repurchased through the issuance of promissory notes, respectively. | ||||||||||||
• | During fiscal 2013, fiscal 2012 and fiscal 2011, cashless settlements of the exercise price and related employee minimum tax withholding liabilities of share-based payment awards were approximately $26.9 million, $27.0 million and $25.9 million, respectively. |
SUPPLEMENTAL_FINANCIAL_INFORMA1
SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ||||||||||||||||||||
Schedule of Tax Effects of Comprehensive Income | ' | ' | ||||||||||||||||||||
For the three and six months ended March 28, 2014 and March 29, 2013, the tax effects on comprehensive income (loss) were as follows (in thousands): | The tax effects on comprehensive income were as follows (in thousands): | |||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
Three Months | Three Months | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
Ended | Ended | Pension plan adjustments | $ | (10,198 | ) | $ | 8,646 | $ | 2,207 | |||||||||||||
March 28, 2014 | March 29, 2013 | Foreign currency translation adjustments | 13,690 | 2,684 | (5,515 | ) | ||||||||||||||||
Foreign currency translation adjustments | $ | 1,430 | $ | 2,707 | Fair value of cash flow hedges | (5,776 | ) | (22,197 | ) | (36,050 | ) | |||||||||||
Fair value of cash flow hedges | 1,654 | (1,690 | ) | Share of equity investee’s comprehensive loss | (1,510 | ) | 7,200 | — | ||||||||||||||
Pension plan adjustments | 82 | 294 | ||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
Foreign currency translation adjustments | $ | 4,027 | $ | 7,021 | ||||||||||||||||||
Fair value of cash flow hedges | (1,343 | ) | (5,536 | ) | ||||||||||||||||||
Pension plan adjustments | 166 | 611 |
BASIS_OF_PRESENTATION_AND_SUMM2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Loss | ' | ||||||||||||
Accumulated other comprehensive loss consists of the following (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Pension plan adjustments | $ | (30,523 | ) | $ | (50,268 | ) | |||||||
Foreign currency translation adjustments | 3,287 | 20,429 | |||||||||||
Fair value of cash flow hedges | (23,994 | ) | (33,106 | ) | |||||||||
Share of equity investee’s Accumulated Other Comprehensive loss | (7,995 | ) | (10,800 | ) | |||||||||
$ | (59,225 | ) | $ | (73,745 | ) | ||||||||
Schedule of Percentage of Components of Inventory | ' | ||||||||||||
The components of inventories are as follows: | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Food | 40.4 | % | 39.5 | % | |||||||||
Career apparel and linens | 56.5 | % | 57.2 | % | |||||||||
Parts, supplies and novelties | 3.1 | % | 3.3 | % | |||||||||
100 | % | 100 | % | ||||||||||
Schedule of Equity Method Investments | ' | ||||||||||||
Summarized financial information for AIM Services Co., Ltd. follows (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Current assets | $ | 353,240 | $ | 433,584 | |||||||||
Noncurrent assets | 169,469 | 222,813 | |||||||||||
Current liabilities | 291,926 | 374,062 | |||||||||||
Noncurrent liabilities | 50,880 | 74,680 | |||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Sales | $ | 1,693,598 | $ | 1,916,620 | $ | 1,772,143 | |||||||
Gross profit | 192,857 | 222,033 | 222,970 | ||||||||||
Net income | 29,236 | 39,174 | 41,949 | ||||||||||
Supplemental Cash Flow Information | ' | ||||||||||||
Supplemental Cash Flow Information | |||||||||||||
(dollars in millions) | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Interest paid | $ | 350.6 | $ | 422.5 | $ | 386.4 | |||||||
Income taxes paid | $ | 74.8 | $ | 82.5 | $ | 64.9 |
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ' | ||||||||||||||||||||
Schedule of Computation of Basic and Diluted Earning Per Share | ' | ' | ||||||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per share attributable to ARAMARK Holdings stockholders (in thousands, except per share data): | The following table sets forth the computation of basic and diluted earnings per share attributable to ARAMARK Holdings stockholders (in thousands, except per share data): | |||||||||||||||||||||
Three Months | Three Months | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||
March 28, 2014 | March 29, 2013 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
Earnings: | Earnings: | |||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | $ | 12,916 | $ | (40,104 | ) | Income from Continuing Operations attributable to ARAMARK Holdings stockholders | $ | 70,386 | $ | 103,254 | $ | 95,578 | ||||||||||
Income (loss) from Discontinued Operations attributable to ARAMARK Holdings stockholders | (1,030 | ) | 297 | (11,732 | ) | |||||||||||||||||
Shares: | ||||||||||||||||||||||
Basic weighted-averages shares outstanding | 230,693 | 201,468 | Net income attributable to ARAMARK Holdings stockholders | $ | 69,356 | $ | 103,551 | $ | 83,846 | |||||||||||||
Effect of dilutive securities | 12,683 | — | ||||||||||||||||||||
Diluted weighted-averages shares outstanding | 243,376 | 201,468 | Shares: | |||||||||||||||||||
Basic weighted-averages shares outstanding | 201,916 | 203,211 | 203,525 | |||||||||||||||||||
Basic Earnings Per Share: | Effect of dilutive securities | 7,454 | 6,496 | 6,474 | ||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | $ | 0.06 | $ | (0.20 | ) | |||||||||||||||||
Basic weighted-averages shares outstanding | 209,370 | 209,707 | 209,999 | |||||||||||||||||||
Diluted Earnings Per Share: | ||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | $ | 0.05 | $ | (0.20 | ) | Earnings Per Share attributable to ARAMARK Holdings stockholders: | ||||||||||||||||
Basic: | ||||||||||||||||||||||
Income from Continuing Operations | $ | 0.35 | $ | 0.51 | $ | 0.47 | ||||||||||||||||
Income (loss) from Discontinued Operations | (0.01 | ) | — | (0.06 | ) | |||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||
Ended | Ended | Net income | $ | 0.34 | $ | 0.51 | $ | 0.41 | ||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||
Earnings: | Diluted: | |||||||||||||||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 57,678 | $ | 2,710 | Income from Continuing Operations | $ | 0.34 | $ | 0.49 | $ | 0.46 | |||||||||||
Income (loss) from Discontinued Operations | (0.01 | ) | — | (0.06 | ) | |||||||||||||||||
Shares: | ||||||||||||||||||||||
Basic weighted-averages shares outstanding | 218,653 | 201,728 | Net income | $ | 0.33 | $ | 0.49 | $ | 0.4 | |||||||||||||
Effect of dilutive securities | 10,757 | 7,113 | ||||||||||||||||||||
Diluted weighted-averages shares outstanding | 229,410 | 208,841 | ||||||||||||||||||||
Basic Earnings Per Share: | ||||||||||||||||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 0.26 | $ | 0.01 | ||||||||||||||||||
Diluted Earnings Per Share: | ||||||||||||||||||||||
Net income attributable to ARAMARK Holdings stockholders | $ | 0.25 | $ | 0.01 | ||||||||||||||||||
DISCONTINUED_OPERATIONS_Tables
DISCONTINUED OPERATIONS (Tables) | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
Financial Information of Discontinued Operations | ' | ||||||||||||
Summarized selected financial information of discontinued operations is as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Sales | $ | — | $ | — | $ | 162,294 | |||||||
Income (loss) before income taxes | (1,701 | ) | 491 | 441 | |||||||||
Income tax provision (benefit) | (671 | ) | 194 | 175 | |||||||||
(1,030 | ) | 297 | 266 | ||||||||||
Loss on sale, net of tax | — | — | (11,998 | ) | |||||||||
Income (loss) from discontinued operations | $ | (1,030 | ) | $ | 297 | $ | (11,732 | ) | |||||
ACQUISITIONS_AND_DIVESTITURES_
ACQUISITIONS AND DIVESTITURES (Tables) | 12 Months Ended | ||||
Sep. 27, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Summary of Fair Values of Assets Acquired and Liabilities Assumed | ' | ||||
accounting standard related to business combinations. The following table summarizes the final fair values of the assets acquired and liabilities assumed from Masterplan (in thousands): | |||||
Purchase consideration | $ | 154,154 | |||
Current assets | $ | 29,906 | |||
Current liabilities | (31,396 | ) | |||
Property and equipment | 3,736 | ||||
Other intangible assets | 42,800 | ||||
Goodwill | 126,757 | ||||
Other assets | 314 | ||||
Long-term borrowings | (767 | ) | |||
Deferred income taxes and other noncurrent liabilities | (17,196 | ) | |||
$ | 154,154 | ||||
GOODWILL_AND_OTHER_INTANGIBLE_1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Changes in total goodwill during the six months ended March 28, 2014 follow (in thousands): | Goodwill, allocated by segment (see Note 14 for a description of segments), is as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Segment | September 27, | Acquisitions and | Translation | March 28, | Segment | September 28, | Acquisitions and | Impairment | Translation | September 27, | ||||||||||||||||||||||||||||||||||||||||
2013 | Divestitures | 2014 | 2012 | Divestitures | and Other | 2013 | ||||||||||||||||||||||||||||||||||||||||||||
FSS North America | $ | 3,595,048 | $ | (11,103 | ) | $ | (176 | ) | $ | 3,583,769 | Food and Support Services—North | $ | 3,701,137 | $ | 7,398 | $ | — | $ | (113,487 | ) | $ | 3,595,048 | ||||||||||||||||||||||||||||
FSS International | 451,154 | — | 6,694 | 457,848 | Food and Support Services—International | 454,552 | — | (11,698 | ) | 8,300 | 451,154 | |||||||||||||||||||||||||||||||||||||||
Uniform | 573,785 | — | — | 573,785 | Uniform and Career Apparel | 573,785 | — | — | — | 573,785 | ||||||||||||||||||||||||||||||||||||||||
$ | 4,619,987 | $ | (11,103 | ) | $ | 6,518 | $ | 4,615,402 | $ | 4,729,474 | $ | 7,398 | $ | (11,698 | ) | $ | (105,187 | ) | $ | 4,619,987 | ||||||||||||||||||||||||||||||
Schedule of other intangible assets | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Other intangible assets consist of (in thousands): | Other intangible assets consist of (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
March 28, 2014 | September 27, 2013 | September 27, 2013 | September 28, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||||||||||||||||||||||
Amount | Amortization | Amount | Amount | Amortization | Amount | Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||||||||||||||||||||||
Customer relationship assets | $ | 1,891,679 | $ | (1,323,921 | ) | $ | 567,758 | $ | 1,892,484 | $ | (1,242,578 | ) | $ | 649,906 | Customer relationship assets | $ | 1,892,484 | $ | (1,242,578 | ) | $ | 649,906 | $ | 1,897,933 | $ | (1,064,492 | ) | $ | 833,441 | |||||||||||||||||||||
Trade names | 761,224 | (1,633 | ) | 759,591 | 760,491 | (1,633 | ) | 758,858 | Trade names | 760,491 | (1,633 | ) | 758,858 | 763,127 | (1,419 | ) | 761,708 | |||||||||||||||||||||||||||||||||
$ | 2,652,903 | $ | (1,325,554 | ) | $ | 1,327,349 | $ | 2,652,975 | $ | (1,244,211 | ) | $ | 1,408,764 | $ | 2,652,975 | $ | (1,244,211 | ) | $ | 1,408,764 | $ | 2,661,060 | $ | (1,065,911 | ) | $ | 1,595,149 | |||||||||||||||||||||||
Schedule of expected amortization expense | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The estimated amortization expense of the amortizable intangible assets through 2018 reflects the 2007 Transaction and acquisitions since January 26, 2007. Based on the recorded balances at September 27, 2013, total estimated amortization of all acquisition-related intangible assets for fiscal years 2014 through 2018 follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | $ | 156,302 | ||||||||||||||||||||||||||||||||||||||||||||||||
2015 | $ | 131,992 | ||||||||||||||||||||||||||||||||||||||||||||||||
2016 | $ | 95,454 | ||||||||||||||||||||||||||||||||||||||||||||||||
2017 | $ | 71,943 | ||||||||||||||||||||||||||||||||||||||||||||||||
2018 | $ | 48,874 |
BORROWINGS_Tables
BORROWINGS (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||||||
Schedule of Long-term Debt Instruments | ' | ' | ||||||||||||||||||||
Long-term borrowings are summarized in the following table (in thousands): | Notes”). Long-term borrowings at September 27, 2013 and September 28, 2012 are summarized in the following table (in thousands): | |||||||||||||||||||||
March 28, | September 27, | September 27, | September 28, | |||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||
Senior secured revolving credit facility | $ | 173,164 | $ | 10,000 | Senior secured revolving credit facility | $ | 10,000 | $ | — | |||||||||||||
Senior secured term loan facility, due July 2016 | 75,450 | 3,032,349 | 8.625% / 9.375% Senior Notes, due April 2016 | — | 595,486 | |||||||||||||||||
Senior secured term loan facility, due September 2019 | 1,392,469 | 1,393,559 | Senior secured term loan facility, due January 2014 | — | 650,913 | |||||||||||||||||
Senior secured term loan facility, due February 2021 | 2,600,279 | — | Senior secured term loan facility, due July 2016 | 3,032,349 | 2,637,920 | |||||||||||||||||
5.75% senior notes, due March 2020 | 1,000,000 | 1,000,000 | Senior secured term loan facility, due September 2019 | 1,393,559 | — | |||||||||||||||||
Receivables Facility, due January 2015 | 300,000 | 300,000 | 8.50% senior notes, due February 2015 | — | 1,280,000 | |||||||||||||||||
Capital leases | 54,012 | 52,385 | Senior floating rate notes, due February 2015 | — | 500,000 | |||||||||||||||||
Other | 42,167 | 35,777 | 5.75% senior notes, due March 2020 | 1,000,000 | — | |||||||||||||||||
Receivables Facility, due January 2015 | 300,000 | 263,800 | ||||||||||||||||||||
5,637,541 | 5,824,070 | Capital leases | 52,385 | 49,584 | ||||||||||||||||||
Less—current portion | (89,613 | ) | (65,841 | ) | Other | 35,777 | 31,064 | |||||||||||||||
$ | 5,547,928 | $ | 5,758,229 | 5,824,070 | 6,008,767 | |||||||||||||||||
Less—current portion | (65,841 | ) | (37,462 | ) | ||||||||||||||||||
$ | 5,758,229 | $ | 5,971,305 | |||||||||||||||||||
Schedule of Maturities of Long Term Debt | ' | ' | ||||||||||||||||||||
At September 27, 2013, annual maturities on long-term borrowings in the next five fiscal years and thereafter (excluding the $7.8 million discount on the senior secured term loan facilities and presumes repayment of the $2.6 billion U.S. and non-U.S. denominated term loans on July 26, 2016) are as follows (in thousands): | ||||||||||||||||||||||
2014 | $ | 65,841 | ||||||||||||||||||||
2015 | $ | 349,487 | ||||||||||||||||||||
2016 | $ | 3,025,340 | ||||||||||||||||||||
2017 | $ | 30,241 | ||||||||||||||||||||
2018 | $ | 19,788 | ||||||||||||||||||||
Thereafter | $ | 2,341,138 | ||||||||||||||||||||
Components of Interest and Other Financing Costs | ' | ' | ||||||||||||||||||||
The components of interest and other financing costs, net, are summarized as follows (in thousands): | ||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||
Interest expense | $ | 425,625 | $ | 459,083 | $ | 466,140 | ||||||||||||||||
Interest income | (6,430 | ) | (5,477 | ) | (18,653 | ) | ||||||||||||||||
Other financing costs | 4,650 | 3,201 | 3,633 | |||||||||||||||||||
Total | $ | 423,845 | $ | 456,807 | $ | 451,120 | ||||||||||||||||
DERIVATIVE_INSTRUMENTS_Tables
DERIVATIVE INSTRUMENTS (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | ' | ' | ||||||||||||||||||||||||
The following table summarizes the net of tax effect of our derivatives designated as cash flow hedging instruments on Comprehensive Income (Loss) (in thousands): | The following table summarizes the net of tax effect of our derivatives designated as cash flow hedging instruments on Comprehensive Income (in thousands): | |||||||||||||||||||||||||
Three Months | Three Months | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||||
Interest rate swap agreements | $ | (1,857 | ) | $ | 3,166 | Interest rate swap agreements | $ | 7,598 | $ | 28,147 | $ | 58,082 | ||||||||||||||
Cross currency swap agreements | (820 | ) | (700 | ) | Cross currency swap agreements | 1,514 | 5,580 | (1,956 | ) | |||||||||||||||||
Natural gas hedge agreements | — | 113 | (21 | ) | ||||||||||||||||||||||
$ | (2,677 | ) | $ | 2,466 | Gasoline and diesel fuel agreements | — | — | (1,232 | ) | |||||||||||||||||
$ | 9,112 | $ | 33,840 | $ | 54,873 | |||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||||||
Interest rate swap agreements | $ | 3,926 | $ | 6,298 | ||||||||||||||||||||||
Cross currency swap agreements | (2,267 | ) | 2,645 | |||||||||||||||||||||||
$ | 1,659 | $ | 8,943 | |||||||||||||||||||||||
Schedule of Derivative Instruments, Balance Sheet Presentation | ' | ' | ||||||||||||||||||||||||
The following table summarizes the location and fair value, using Level 2 inputs, of the Company’s derivatives designated and not designated as hedging instruments in our Condensed Consolidated Balance Sheets (in thousands): | The following table summarizes the location and fair value, using Level 2 inputs, of the Company’s derivatives designated and not designated as hedging instruments in the Consolidated Balance Sheets (in thousands): | |||||||||||||||||||||||||
Balance Sheet Location | March 28, 2014 | September 27, 2013 | Balance Sheet Location | September 27, 2013 | September 28, 2012 | |||||||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||||||||||
Not designated as hedging instruments: | Not designated as hedging instruments: | |||||||||||||||||||||||||
Gasoline and diesel fuel agreements | Prepayments | 118 | 37 | Foreign currency forward exchange contracts | Prepayments | $ | — | $ | 251 | |||||||||||||||||
Gasoline and diesel fuel agreements | Prepayments | 37 | 696 | |||||||||||||||||||||||
$ | 118 | $ | 37 | |||||||||||||||||||||||
$ | 37 | $ | 947 | |||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||
Designated as hedging instruments: | LIABILITIES | |||||||||||||||||||||||||
Interest rate swap agreements | Accrued Expenses | $ | — | $ | 3,494 | Designated as hedging instruments: | ||||||||||||||||||||
Interest rate swap agreements | Other Noncurrent Liabilities | 27,139 | 30,431 | Interest rate swap agreements | Accrued Expenses | $ | 3,494 | $ | — | |||||||||||||||||
Cross currency swap agreements | Other Noncurrent Liabilities | 9,266 | 16,129 | Interest rate swap agreements | Other Noncurrent Liabilities | 30,431 | 46,484 | |||||||||||||||||||
Cross currency swap agreements | Other Noncurrent Liabilities | 16,129 | 45,406 | |||||||||||||||||||||||
36,405 | 50,054 | |||||||||||||||||||||||||
50,054 | 91,890 | |||||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
Foreign currency forward exchange contracts | Accounts Payable | 346 | 366 | Not designated as hedging instruments: | ||||||||||||||||||||||
Cross currency swap agreements | Accrued Expenses | — | 12,818 | Foreign currency forward exchange contracts | Accounts Payable | 366 | — | |||||||||||||||||||
Cross currency swap agreements | Accrued Expenses | 12,818 | — | |||||||||||||||||||||||
$ | 36,751 | $ | 63,238 | |||||||||||||||||||||||
$ | 63,238 | $ | 91,890 | |||||||||||||||||||||||
Schedule Of Derivative Designated And Not Designated As Hedging Instruments Accumulated Other Comprehensive Income And Consolidated Statements Of Income, Location | ' | ' | ||||||||||||||||||||||||
The following table summarizes the location of (gain) loss reclassified from “Accumulated other comprehensive loss” into earnings for derivatives designated as hedging instruments and the location of (gain) loss from the derivatives not designated as hedging instruments in the Condensed Consolidated Statements of Operations (in thousands): | The following table summarizes the location of (gain) loss reclassified from “Accumulated other comprehensive loss” into earnings for derivatives designated as hedging instruments and the location of (gain) loss for our derivatives not designated as hedging instruments in the Consolidated Statements of Income (in thousands): | |||||||||||||||||||||||||
Account | Three Months | Three Months | Account | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||||||
Designated as hedging instruments: | Designated as hedging instruments: | |||||||||||||||||||||||||
Interest rate swap agreements | Interest Expense | $ | 6,989 | $ | 5,668 | Interest rate swap agreements | Interest Expense | $ | 23,479 | $ | 66,260 | $ | 123,739 | |||||||||||||
Cross currency swap agreements | Interest Expense | (2,209 | ) | 1,009 | Cross currency swap agreements | Interest Expense | 4,090 | 8,077 | 8,960 | |||||||||||||||||
Natural gas hedge agreements | Cost of services provided | — | 396 | 158 | ||||||||||||||||||||||
$ | 4,780 | $ | 6,677 | Gasoline and diesel fuel agreements | Cost of services provided | — | — | (2,289 | ) | |||||||||||||||||
Not designated as hedging instruments: | $ | 27,569 | $ | 74,733 | $ | 130,568 | ||||||||||||||||||||
Cross currency swap agreements | Interest Expense | $ | (3,465 | ) | $ | (1,513 | ) | |||||||||||||||||||
Gasoline and diesel fuel agreements | Cost of services provided | 220 | (253 | ) | Not designated as hedging instruments: | |||||||||||||||||||||
Foreign currency forward exchange contracts | Interest Expense | 1,148 | (6,882 | ) | Cross currency swap agreements | Interest Expense | $ | 181 | $ | — | $ | — | ||||||||||||||
Gasoline and diesel fuel agreements | Cost of services provided | 7 | 24 | — | ||||||||||||||||||||||
$ | (2,097 | ) | $ | (8,648 | ) | Foreign currency forward exchange contracts | Interest Expense | 2,697 | (265 | ) | (1,586 | ) | ||||||||||||||
2,885 | (241 | ) | (1,586 | ) | ||||||||||||||||||||||
Account | Six Months | Six Months | $ | 30,454 | $ | 74,492 | $ | 128,982 | ||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||
March 28, 2014 | March 29, 2013 | |||||||||||||||||||||||||
Designated as hedging instruments: | ||||||||||||||||||||||||||
Interest rate swap agreements | Interest Expense | $ | 16,183 | $ | 11,210 | |||||||||||||||||||||
Cross currency swap agreements | Interest Expense | (4,824 | ) | 3,006 | ||||||||||||||||||||||
$ | 11,359 | $ | 14,216 | |||||||||||||||||||||||
Not designated as hedging instruments: | ||||||||||||||||||||||||||
Cross currency swap agreements | Interest Expense | $ | (5,111 | ) | $ | 1,021 | ||||||||||||||||||||
Gasoline and diesel fuel agreements | Cost of services provided | (136 | ) | (131 | ) | |||||||||||||||||||||
Foreign currency forward exchange contracts | Interest Expense | 4,285 | (6,042 | ) | ||||||||||||||||||||||
$ | (962 | ) | $ | (5,152 | ) | |||||||||||||||||||||
EMPLOYEE_PENSION_AND_PROFIT_SH1
EMPLOYEE PENSION AND PROFIT SHARING PLANS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 27, 2013 | |||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Net Benefit Costs | ' | ||||||||||||||||||||||||||
The following table sets forth the components of net periodic pension cost for the Company’s single-employer defined benefit pension plans for fiscal 2013, fiscal 2012 and fiscal 2011 (in thousands): | |||||||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||||||||||
Ended | Ended | Ended | |||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||||||||||||||||
Service cost | $ | 11,045 | $ | 9,961 | $ | 10,310 | |||||||||||||||||||||
Interest cost | 12,693 | 13,001 | 13,086 | ||||||||||||||||||||||||
Expected return on plan assets | (14,256 | ) | (12,521 | ) | (12,738 | ) | |||||||||||||||||||||
Settlements | 308 | 467 | 704 | ||||||||||||||||||||||||
Amortization of prior service cost | 119 | 6 | 6 | ||||||||||||||||||||||||
Recognized net (gain) loss | 3,436 | 2,392 | 1,608 | ||||||||||||||||||||||||
Net periodic pension cost | $ | 13,345 | $ | 13,306 | $ | 12,976 | |||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures | ' | ||||||||||||||||||||||||||
The following table sets forth changes in the projected benefit obligation and the fair value of plan assets for these plans (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||
Benefit obligation, beginning | $ | 306,810 | $ | 244,754 | |||||||||||||||||||||||
Foreign currency translation | (7,641 | ) | 14,056 | ||||||||||||||||||||||||
Service cost | 11,045 | 9,961 | |||||||||||||||||||||||||
Interest cost | 12,693 | 13,001 | |||||||||||||||||||||||||
Employee contributions | 2,954 | 3,565 | |||||||||||||||||||||||||
Actuarial loss (gain) | (12,958 | ) | 34,227 | ||||||||||||||||||||||||
Benefits paid | (15,172 | ) | (11,699 | ) | |||||||||||||||||||||||
Settlements and curtailments | (1,342 | ) | (1,055 | ) | |||||||||||||||||||||||
Benefit obligation, end | $ | 296,389 | $ | 306,810 | |||||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||
Fair value of plan assets, beginning | $ | 222,272 | $ | 178,587 | |||||||||||||||||||||||
Foreign currency translation | (5,359 | ) | 9,866 | ||||||||||||||||||||||||
Employer contributions | 19,731 | 20,558 | |||||||||||||||||||||||||
Employee contributions | 2,954 | 3,565 | |||||||||||||||||||||||||
Actual return on plan assets | 25,890 | 22,601 | |||||||||||||||||||||||||
Benefits paid | (15,172 | ) | (11,699 | ) | |||||||||||||||||||||||
Settlements | (1,637 | ) | (1,206 | ) | |||||||||||||||||||||||
Fair value of plan assets, end | $ | 248,679 | $ | 222,272 | |||||||||||||||||||||||
Funded Status at end of year | $ | (47,710 | ) | $ | (84,538 | ) | |||||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet Including Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||||||||
Amounts recognized in the Consolidated Balance Sheets consist of the following (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Current benefit liability (included in Accrued expenses and other current liabilities) | $ | (924 | ) | $ | (484 | ) | |||||||||||||||||||||
Noncurrent benefit liability (included in Other Noncurrent Liabilities) | $ | (46,786 | ) | $ | (84,054 | ) | |||||||||||||||||||||
Net actuarial loss (gain) (included in Accumulated other comprehensive (income) loss before taxes) | $ | 47,456 | $ | 77,391 | |||||||||||||||||||||||
Prior service cost (included in Accumulated other comprehensive (income) loss before taxes) | $ | 44 | $ | 52 | |||||||||||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||||||||||||
The following weighted average assumptions were used to determine pension expense of the respective fiscal years: | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Discount rate | 4.2 | % | 5 | % | |||||||||||||||||||||||
Rate of compensation increase | 3.4 | % | 3.5 | % | |||||||||||||||||||||||
Long-term rate of return on assets | 6.7 | % | 6.6 | % | |||||||||||||||||||||||
The following weighted average assumptions were used to determine the funded status of the respective fiscal years: | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Discount rate | 4.6 | % | 4.2 | % | |||||||||||||||||||||||
Rate of compensation increase | 3.3 | % | 3.4 | % | |||||||||||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | ' | ||||||||||||||||||||||||||
The following table sets forth information for the Company’s single-employer pension plans with an accumulated benefit obligation in excess of plan assets as of September 27, 2013 and September 28, 2012 (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 166,798 | $ | 302,072 | |||||||||||||||||||||||
Accumulated benefit obligation | 160,798 | 274,701 | |||||||||||||||||||||||||
Fair value of plan assets | 131,392 | 217,044 | |||||||||||||||||||||||||
Schedule of Allocation of Plan Assets | ' | ||||||||||||||||||||||||||
The fair value of plan assets for the Company’s defined benefit pension plans as of September 27, 2013 and September 28, 2012 is as follows (see Note 15 for a description of the fair value levels) (in thousands): | |||||||||||||||||||||||||||
September 27, 2013 | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||||
active markets | observable inputs | unobservable inputs | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Cash and cash equivalents and other | $ | 2,394 | $ | 2,394 | $ | — | $ | — | |||||||||||||||||||
Investment funds: | |||||||||||||||||||||||||||
Pooled funds—equity | 157,372 | — | 157,372 | — | |||||||||||||||||||||||
Pooled funds—fixed income | 88,913 | — | 88,913 | — | |||||||||||||||||||||||
Total | $ | 248,679 | $ | 2,394 | $ | 246,285 | $ | — | |||||||||||||||||||
28-Sep-12 | Quoted prices in | Significant other | Significant | ||||||||||||||||||||||||
active markets | observable inputs | unobservable inputs | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Cash and cash equivalents and other | $ | 2,042 | $ | 2,042 | $ | — | $ | — | |||||||||||||||||||
Investment funds: | |||||||||||||||||||||||||||
Pooled funds—equity | 141,784 | — | 141,784 | — | |||||||||||||||||||||||
Pooled funds—fixed income | 78,446 | — | 78,446 | — | |||||||||||||||||||||||
Total | $ | 222,272 | $ | 2,042 | $ | 220,230 | $ | — | |||||||||||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||||||||||||
as outlined in the required statutory actuarial valuation for each plan. The following table sets forth the benefits expected to be paid in the next five fiscal years and in aggregate for the five fiscal years thereafter by the Company’s defined benefit pension plans (in thousands): | |||||||||||||||||||||||||||
Fiscal 2014 | $ | 12,218 | |||||||||||||||||||||||||
Fiscal 2015 | $ | 11,423 | |||||||||||||||||||||||||
Fiscal 2016 | $ | 11,899 | |||||||||||||||||||||||||
Fiscal 2017 | $ | 12,488 | |||||||||||||||||||||||||
Fiscal 2018 | $ | 13,010 | |||||||||||||||||||||||||
Fiscal 2019 – 2023 | $ | 69,358 | |||||||||||||||||||||||||
Schedule of Multiemployer Plans | ' | ||||||||||||||||||||||||||
There have been no significant changes that affect the comparability of fiscal 2013, fiscal 2012 and fiscal 2011 contributions. | |||||||||||||||||||||||||||
Pension | EIN/Pension | Pension Protection | FIP/RP | Contributions by the Company | Surcharge | Range of | |||||||||||||||||||||
Fund | Plan | Act Zone Status | Status | (in thousands) | Imposed | Expiration | |||||||||||||||||||||
Number | Pending/ | Dates of | |||||||||||||||||||||||||
2013 | 2012 | Implemented | 2013 | 2012 | 2011 | CBAs | |||||||||||||||||||||
National Retirement Fund | 13-6130178/ 001 | Red | Red | Implemented | $ | 6,011 | $ | 4,868 | $ | 5,367 | No | 1/15/2012- | |||||||||||||||
9/30/16 | |||||||||||||||||||||||||||
Service Employees Pension Fund of Upstate New York(1) | 16-0908576/ 001 | Red | Red | Implemented | 360 | 247 | 385 | No | 9/30/2014- | ||||||||||||||||||
6/30/15 | |||||||||||||||||||||||||||
Local 1102 Retirement Trust(2) | 13-1847329/ 001 | Red | Red | Implemented | 275 | 201 | 232 | No | 6/30/2013- | ||||||||||||||||||
6/30/15 | |||||||||||||||||||||||||||
Central States SE and SW Areas Pension Plan | 36-6044243/ 001 | Red | Red | Implemented | 3,415 | 3,164 | 2,869 | No | 1/31/2007- | ||||||||||||||||||
11/26/15 | |||||||||||||||||||||||||||
Pension Plan for Hospital & Health Care Employees Philadelphia & Vicinity | 23-2627428/ 001 | Red | Red | Implemented | 161 | 154 | 122 | No | 1/31/18 | ||||||||||||||||||
Richmond Teamsters and Industry Pension Fund(3) | 54-6056180/ 001 | N/A | Green | N/A | 154 | 121 | 109 | No | N/A | ||||||||||||||||||
Retail, Wholesale and Department Store International Union and Industry Pension Fund | 63-0708442/001 | Green | Green | N/A | 306 | 292 | 292 | No | 1/31/2011- | ||||||||||||||||||
1/29/18 | |||||||||||||||||||||||||||
Local 731 IBT Textile Maintenance and Laundry Craft Pension Fund | 51-6051697/001 | Red | Red | Implemented | 453 | 384 | 350 | No | 5/1/12 | ||||||||||||||||||
SEIU National Industry Pension Fund | 52-6148540/001 | Red | Red | Implemented | 173 | 280 | 229 | No | 4/14/16 | ||||||||||||||||||
Automotive Industries Pension Plan | 94-1133245/001 | Red | Red | Implemented | 28 | 27 | 27 | No | 5/31/14 | ||||||||||||||||||
Laundry Dry Cleaning Workers & Allied Industries Retirement Fund Workers United (4) | 13-5521921/001 | Green | Green | N/A | 221 | 169 | 116 | No | 10/10/2011- | ||||||||||||||||||
2/26/16 | |||||||||||||||||||||||||||
Other funds | 12,706 | 12,394 | 11,771 | ||||||||||||||||||||||||
Total contributions | $ | 24,263 | $ | 22,301 | $ | 21,869 | |||||||||||||||||||||
-1 | Over 60% of the Company’s participants in this fund are covered by a single CBA that expires on 6/30/2015. | ||||||||||||||||||||||||||
-2 | Over 90% of the Company’s participants in this fund are covered by a single CBA that expires on 6/30/2015. | ||||||||||||||||||||||||||
-3 | During fiscal 2013, the Company negotiated with a union to discontinue its participation in this fund. | ||||||||||||||||||||||||||
-4 | Over 75% of the Company’s participants in this fund are covered by a single CBA that expires on 1/26/2016. | ||||||||||||||||||||||||||
The Company provided more than 5 percent of the total contributions for the following plans and plan years: | |||||||||||||||||||||||||||
Pension | Contributions to the plan | ||||||||||||||||||||||||||
Fund | exceeded more than 5% | ||||||||||||||||||||||||||
of total contributions | |||||||||||||||||||||||||||
(as of the plan’s year-end) | |||||||||||||||||||||||||||
Local 1102 Retirement Trust | December 31, 2012, | ||||||||||||||||||||||||||
2011 and 2010 | |||||||||||||||||||||||||||
Service Employees Pension Fund of Upstate New York | December 31, 2012, | ||||||||||||||||||||||||||
2011 and 2010 | |||||||||||||||||||||||||||
Local 731 IBT Textile Maintenance and Laundry Craft Pension Fund | March 31, 2013, 2012 | ||||||||||||||||||||||||||
and 2011 | |||||||||||||||||||||||||||
Laundry Dry Cleaning Workers & Allied Industries Retirement Fund Workers United | December 31, 2012, | ||||||||||||||||||||||||||
2011 and 2010 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||
Sep. 27, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income (loss) from continuing operations before income taxes by source of income | ' | ||||||||||||
The components of income from continuing operations before income taxes by source of income are as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
United States | $ | 18,557 | $ | 34,498 | $ | (16,162 | ) | ||||||
Non-U.S. | 72,072 | 90,470 | 112,131 | ||||||||||
$ | 90,629 | $ | 124,968 | $ | 95,969 | ||||||||
Provision (benefit) for income taxes | ' | ||||||||||||
The provision (benefit) for income taxes consists of (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 2,740 | $ | 45,173 | $ | (1,493 | ) | ||||||
State and local | 126 | 7,205 | 8,494 | ||||||||||
Non-U.S. | 34,158 | 32,301 | 34,356 | ||||||||||
$ | 37,024 | $ | 84,679 | $ | 41,357 | ||||||||
Deferred: | |||||||||||||
Federal | $ | (1,007 | ) | $ | (42,515 | ) | $ | (22,885 | ) | ||||
State and local | (656 | ) | (11,189 | ) | (8,946 | ) | |||||||
Non-U.S. | (16,128 | ) | (12,909 | ) | (10,260 | ) | |||||||
(17,791 | ) | (66,613 | ) | (42,091 | ) | ||||||||
$ | 19,233 | $ | 18,066 | $ | (734 | ) | |||||||
Effective Income Tax Rate Reconciliation | ' | ||||||||||||
The provision for income taxes varies from the amount determined by applying the United States Federal statutory rate to pretax income as a result of the following (all percentages are as a percentage of pretax income): | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||
United States statutory income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increase (decrease) resulting from: | |||||||||||||
State income taxes, net of Federal tax benefit | 1 | 0.5 | 2.1 | ||||||||||
Foreign taxes | (2.2 | ) | (9.8 | ) | (10.7 | ) | |||||||
Permanent book/tax differences | 1.8 | (0.6 | ) | 1.2 | |||||||||
Uncertain tax positions | (1.6 | ) | (1.8 | ) | (17.7 | ) | |||||||
Tax credits & other | (12.8 | ) | (8.8 | ) | (10.7 | ) | |||||||
Effective income tax rate | 21.2 | % | 14.5 | % | (0.8 | )% | |||||||
Components of deferred taxes | ' | ||||||||||||
As of September 27, 2013 and September 28, 2012, the components of deferred taxes are as follows (in thousands): | |||||||||||||
September 27, 2013 | September 28, 2012 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment | $ | 71,425 | $ | 82,627 | |||||||||
Investments | 43,527 | 95,445 | |||||||||||
Other intangible assets, including goodwill | 700,526 | 717,583 | |||||||||||
Inventory and other | 70,037 | 13,095 | |||||||||||
Gross deferred tax liability | 885,515 | 908,750 | |||||||||||
Deferred tax assets: | |||||||||||||
Insurance | 36,458 | 41,443 | |||||||||||
Employee compensation and benefits | 218,491 | 214,847 | |||||||||||
Accruals and allowances | 37,876 | 43,781 | |||||||||||
Derivatives | 18,449 | 31,879 | |||||||||||
Net operating loss/credit carryforwards and other | 37,264 | 37,509 | |||||||||||
Gross deferred tax asset, before valuation allowances | 348,538 | 369,459 | |||||||||||
Valuation allowances | (10,263 | ) | (15,187 | ) | |||||||||
Net deferred tax liability | $ | 547,240 | $ | 554,478 | |||||||||
Reconciliation of the Beginning and Ending Amount of Gross Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits follows (in thousands): | |||||||||||||
September 27, 2013 | |||||||||||||
Gross unrecognized tax benefits at September 28, 2012 | $ | 31,977 | |||||||||||
Additions based on tax positions taken in the current year | 2,342 | ||||||||||||
Reductions for tax positions taken in prior years | (1,123 | ) | |||||||||||
Reductions for remeasurements, settlements and payments | (3,919 | ) | |||||||||||
Reductions due to statute expiration | (1,940 | ) | |||||||||||
Gross unrecognized tax benefits at September 27, 2013 | $ | 27,337 | |||||||||||
September 28, 2012 | |||||||||||||
Gross unrecognized tax benefits at September 30, 2011 | $ | 34,040 | |||||||||||
Additions based on tax positions taken in the current year | 2,304 | ||||||||||||
Additions for tax positions taken in prior years | (254 | ) | |||||||||||
Reductions for remeasurements, settlements and payments | (3,306 | ) | |||||||||||
Reductions due to statute expiration | (807 | ) | |||||||||||
Gross unrecognized tax benefits at September 28, 2012 | $ | 31,977 | |||||||||||
SHAREBASED_COMPENSATION_Tables
SHARE-BASED COMPENSATION (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 27, 2013 | |||||||||||||||||
Time-Based Options | ' | ||||||||||||||||
Stock Option Valuation Assumptions | ' | ||||||||||||||||
The fair value of the Time-Based Options granted was estimated using the Black-Scholes option pricing model and the weighted-average assumptions noted in the table below. Since the Company’s stock is not publicly traded, the expected volatility is based on an average of the historical volatility of the Company’s competitors’ stocks over the expected term of the stock options. The expected life represents the period of time that options granted are expected to be outstanding and is calculated using the simplified method as permitted under Securities and Exchange Commission (“SEC”) rules and regulations due to the lack of history of our equity incentive plan and the lack of a public market for our common stock. The simplified method uses the midpoint between an option’s vesting date and contractual term. The risk-free rate is based on the U.S. Treasury security with terms equal to the expected life of the option as of the grant date. | |||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||
Ended | Ended | Ended | |||||||||||||||
September 27, | September 28, | September 30, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Expected volatility | 30% | 30% | 30% | ||||||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||||||
Expected life (in years) | 6.25 | 6.25 | 6.25 | ||||||||||||||
Risk-free interest rate | 1.02% - 2.36% | 1.04% - 1.61% | 1.41% - 2.86% | ||||||||||||||
Schedule of Options Activity | ' | ||||||||||||||||
A summary of Time-Based Options activity is presented below: | |||||||||||||||||
Options | Shares | Weighted- | Aggregate | Weighted- | |||||||||||||
(000s) | Average | Intrinsic Value | Average | ||||||||||||||
Exercise | ($000s) | Remaining Term | |||||||||||||||
Price | (Years) | ||||||||||||||||
Outstanding at September 28, 2012 | 15,711 | $ | 9.7 | ||||||||||||||
Granted | 4,850 | $ | 16.11 | ||||||||||||||
Exercised | (2,070 | ) | $ | 7.34 | |||||||||||||
Forfeited and expired | (693 | ) | $ | 11.57 | |||||||||||||
Outstanding at September 27, 2013 | 17,798 | $ | 12.08 | $ | 109,623 | 6.7 | |||||||||||
Exercisable at September 27, 2013 | 9,802 | $ | 7.65 | $ | 90,471 | 4.7 | |||||||||||
Expected to vest at September 27, 2013 | 6,908 | $ | 14.36 | $ | 17,420 | 8.9 | |||||||||||
Performance-based options | ' | ||||||||||||||||
Stock Option Valuation Assumptions | ' | ||||||||||||||||
The fair value of the Performance-Based Options was estimated using the Black-Scholes option pricing model and the weighted-average assumptions noted in the table below. Since the Company’s stock is not publicly traded, the expected volatility is based on an average of the historical volatility of the Company’s competitors’ stocks over the expected term of the stock options. The expected life represents the period of time that options granted are expected to be outstanding and is calculated using the simplified method as permitted under SEC rules and regulations due to the lack of history of our equity incentive plan and the lack of a public market for our common stock. The simplified method uses the midpoint between an option’s vesting date and contractual term. The risk-free rate is based on the U.S. Treasury security with terms equal to the expected life of the option as of the grant date. | |||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||
Ended | Ended | Ended | |||||||||||||||
September 27, | September 28, | September 30, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Expected volatility | 30% | 30% | 30% | ||||||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||||||
Expected life (in years) | 4.5 - 5.5 | 5.0 - 6.0 | 5.5 - 7.0 | ||||||||||||||
Risk-free interest rate | 0.61% - 0.85% | 0.73% - 1.04% | 1.43% - 2.86% | ||||||||||||||
Schedule of Options Activity | ' | ||||||||||||||||
A summary of Performance-Based Options activity is presented below: | |||||||||||||||||
Options | Shares | Weighted- | Aggregate | Weighted- | |||||||||||||
(000s) | Average | Intrinsic Value | Average | ||||||||||||||
Exercise | ($000s) | Remaining Term | |||||||||||||||
Price | (Years) | ||||||||||||||||
Outstanding at September 28, 2012 | 15,929 | $ | 9.68 | ||||||||||||||
Granted | 463 | $ | 15.06 | ||||||||||||||
Exercised | (1,032 | ) | $ | 7.27 | |||||||||||||
Forfeited and expired | (1,422 | ) | $ | 9.41 | |||||||||||||
Outstanding at September 27, 2013 | 13,938 | $ | 8.86 | $ | 111,759 | 5.6 | |||||||||||
Exercisable at September 27, 2013 | 4,548 | $ | 7.29 | $ | 43,596 | 4.4 | |||||||||||
Expected to vest at September 27, 2013 | 1,669 | $ | 11.82 | $ | 8,444 | 7.6 | |||||||||||
Installment Stock Purchase Opportunities (ISPOs) [Member] | ' | ||||||||||||||||
Stock Option Valuation Assumptions | ' | ||||||||||||||||
The fair value of the ISPOs was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions noted in the table below. Since the Company’s stock is not publicly traded, the expected volatility is based on an average of the historical volatility of the Company’s competitors’ stocks over the expected term of the stock options. The expected life represents the period of time that options granted are expected to be outstanding and is calculated using the simplified methodas permitted under SEC rules and regulations due to the lack of history of our equity incentive plan and the lack of a public market for our common stock. The simplified method uses the midpoint between an option’s vesting date and contractual term. The risk-free rate is based on the U.S. Treasury security with terms equal to the expected life of the option as of the grant date. | |||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||
Ended | Ended | Ended | |||||||||||||||
September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||||||
Expected volatility | 30% | 30% | 30% | ||||||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||||||
Expected life (in years) | 2.5 | 2.5 | 2.5 | ||||||||||||||
Risk-free interest rate | 0.25% | 0.24% - 0.31% | 0.33% - 0.68% | ||||||||||||||
Schedule of Options Activity | ' | ||||||||||||||||
A summary of ISPOs activity is presented below: | |||||||||||||||||
Options | Shares | Weighted- | Aggregate | Weighted- | |||||||||||||
(000s) | Average | Intrinsic Value | Average | ||||||||||||||
Exercise | ($000s) | Remaining Term | |||||||||||||||
Price | (Years) | ||||||||||||||||
Outstanding at September 28, 2012 | 1,403 | $ | 13.81 | ||||||||||||||
Granted | 350 | $ | 15.08 | ||||||||||||||
Exercised | (158 | ) | $ | 11.83 | |||||||||||||
Exchanged, forfeited and expired | (1,508 | ) | $ | 13.41 | |||||||||||||
Outstanding at September 27, 2013 | 87 | $ | 12.21 | $ | 406 | 2.5 | |||||||||||
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | ||||
Sep. 27, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Commitments Under All Noncancelable Operating Leases | ' | ||||
Following is a schedule of the future minimum rental and similar commitments under all noncancelable operating leases as of September 27, 2013 (in thousands): | |||||
Fiscal Year | |||||
2014 | $ | 219,698 | |||
2015 | 93,661 | ||||
2016 | 76,420 | ||||
2017 | 67,469 | ||||
2018 | 52,123 | ||||
Subsequent years | 90,598 | ||||
Total minimum rental obligations | $ | 599,969 | |||
BUSINESS_SEGMENTS_Tables
BUSINESS SEGMENTS (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||
Business Segments | ' | ' | ||||||||||||||||||||
Sales, operating income and depreciation and amortization by reportable segment follow (in thousands): | Financial information by segment follows (in millions): | |||||||||||||||||||||
Sales | ||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Sales | Three Months | Three Months | Ended | Ended | Ended | |||||||||||||||||
Ended | Ended | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
March 28, 2014 | March 29, 2013 | Food and Support Services—North America | $ | 9,665.20 | $ | 9,413.20 | $ | 9,019.00 | ||||||||||||||
FSS North America | $ | 2,396,880 | $ | 2,354,315 | Food and Support Services—International | 2,869.20 | 2,729.50 | 2,723.30 | ||||||||||||||
FSS International | 744,163 | 702,154 | Uniform and Career Apparel | 1,411.30 | 1,362.70 | 1,340.10 | ||||||||||||||||
Uniform | 360,964 | 347,268 | ||||||||||||||||||||
$ | 13,945.70 | $ | 13,505.40 | $ | 13,082.40 | |||||||||||||||||
$ | 3,502,007 | $ | 3,403,737 | |||||||||||||||||||
Operating Income | ||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Operating Income (Loss) | Three Months | Three Months | Ended | Ended | Ended | |||||||||||||||||
Ended | Ended | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
March 28, 2014 | March 29, 2013 | Food and Support Services—North America | $ | 405.1 | $ | 425.6 | $ | 400.5 | ||||||||||||||
FSS North America | $ | 125,416 | $ | 84,238 | Food and Support Services—International | 66.2 | 89.9 | 79.9 | ||||||||||||||
FSS International | 13,163 | (10,027 | ) | Uniform and Career Apparel | 117.3 | 118.1 | 117.3 | |||||||||||||||
Uniform | 36,564 | 23,277 | ||||||||||||||||||||
588.6 | 633.6 | 597.7 | ||||||||||||||||||||
175,143 | 97,488 | Corporate | (74.2 | ) | (51.8 | ) | (50.6 | ) | ||||||||||||||
Corporate | (54,336 | ) | (17,273 | ) | ||||||||||||||||||
Operating Income | 514.4 | 581.8 | 547.1 | |||||||||||||||||||
Operating Income | 120,807 | 80,215 | Interest and other financing costs, net | (423.8 | ) | (456.8 | ) | (451.1 | ) | |||||||||||||
Interest and Other Financing Costs, net | (102,074 | ) | (147,124 | ) | ||||||||||||||||||
Income from Continuing Operations Before Income Taxes | $ | 90.6 | $ | 125 | $ | 96 | ||||||||||||||||
Income (Loss) Before Income Taxes | $ | 18,733 | $ | (66,909 | ) | |||||||||||||||||
Depreciation and Amortization | ||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Depreciation and Amortization | Three Months | Three Months | Ended | Ended | Ended | |||||||||||||||||
Ended | Ended | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
March 28, 2014 | March 29, 2013 | Food and Support Services—North America | $ | 375.7 | $ | 364.7 | $ | 341.9 | ||||||||||||||
FSS North America | $ | 91,954 | $ | 93,161 | Food and Support Services—International | 62.5 | 61 | 62.6 | ||||||||||||||
FSS International | 13,916 | 16,019 | Uniform and Career Apparel | 102 | 102.6 | 105.1 | ||||||||||||||||
Uniform | 19,170 | 25,898 | Corporate | 1.9 | 0.9 | 0.9 | ||||||||||||||||
Corporate | 277 | 226 | ||||||||||||||||||||
$ | 542.1 | $ | 529.2 | $ | 510.5 | |||||||||||||||||
$ | 125,317 | $ | 135,304 | |||||||||||||||||||
Capital Expenditures and | ||||||||||||||||||||||
Client Contract Investments and Other* | ||||||||||||||||||||||
Sales | Six Months | Six Months | Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||
March 28, 2014 | March 29, 2013 | September 27, 2013 | September 28, 2012 | September 30, 2011 | ||||||||||||||||||
FSS North America | $ | 5,017,231 | $ | 4,811,899 | Food and Support Services—North America | $ | 285.6 | $ | 281 | $ | 207.9 | |||||||||||
FSS International | 1,519,738 | 1,427,051 | Food and Support Services—International | 60.7 | 51.9 | 58.6 | ||||||||||||||||
Uniform | 728,119 | 700,702 | Uniform and Career Apparel | 46.7 | 40.5 | 33.3 | ||||||||||||||||
Corporate | 0.1 | — | 0.4 | |||||||||||||||||||
$ | 7,265,088 | $ | 6,939,652 | |||||||||||||||||||
$ | 393.1 | $ | 373.4 | $ | 300.2 | |||||||||||||||||
* | Includes amounts acquired in business combinations | |||||||||||||||||||||
Operating Income | Six Months | Six Months | ||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||
March 28, 2014 | March 29, 2013 | Identifiable Assets | ||||||||||||||||||||
FSS North America | $ | 288,550 | $ | 225,789 | September 27, | September 28, | ||||||||||||||||
FSS International | 40,235 | 9,183 | 2013 | 2012 | ||||||||||||||||||
Uniform | 76,859 | 54,373 | Food and Support Services—North America | $ | 6,939.30 | $ | 7,120.80 | |||||||||||||||
Food and Support Services—International | 1,531.20 | 1,527.70 | ||||||||||||||||||||
405,644 | 289,345 | Uniform and Career Apparel | 1,670.00 | 1,681.70 | ||||||||||||||||||
Corporate | (127,615 | ) | (33,811 | ) | Corporate | 126.6 | 157.2 | |||||||||||||||
Operating Income | 278,029 | 255,534 | $ | 10,267.10 | $ | 10,487.40 | ||||||||||||||||
Interest and Other Financing Costs, net | (185,427 | ) | (260,475 | ) | ||||||||||||||||||
The following geographic data include sales generated by subsidiaries within that geographic area and net property & equipment based on physical location (in millions): | ||||||||||||||||||||||
Income (Loss) Before Income Taxes | $ | 92,602 | $ | (4,941 | ) | |||||||||||||||||
Sales | ||||||||||||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||
Ended | Ended | Ended | ||||||||||||||||||||
Depreciation and Amortization | Six Months | Six Months | September 27, 2013 | September 28, 2012 | September 30, 2011 | |||||||||||||||||
Ended | Ended | United States | $ | 10,025.00 | $ | 9,729.60 | $ | 9,369.60 | ||||||||||||||
March 28, 2014 | March 29, 2013 | Foreign | 3,920.70 | 3,775.80 | 3,712.80 | |||||||||||||||||
FSS North America | $ | 188,002 | $ | 185,009 | ||||||||||||||||||
FSS International | 29,375 | 31,798 | $ | 13,945.70 | $ | 13,505.40 | $ | 13,082.40 | ||||||||||||||
Uniform | 44,402 | 51,442 | ||||||||||||||||||||
Corporate | 362 | 455 | ||||||||||||||||||||
$ | 262,141 | $ | 268,704 | Net Property & Equipment | ||||||||||||||||||
September 27, | September 28, | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
United States | $ | 789.4 | $ | 790.1 | ||||||||||||||||||
Foreign | 187.9 | 186.2 | ||||||||||||||||||||
$ | 977.3 | $ | 976.3 | |||||||||||||||||||
FAIR_VALUE_OF_ASSETS_AND_LIABI1
FAIR VALUE OF ASSETS AND LIABILITIES (Tables) | 6 Months Ended | 12 Months Ended | ||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||
Fair Value, Temporary Equity Measured on Recurring Basis, Unobservable Input Reconciliation | ' | ' | ||||||||
The following table presents the changes in the Company’s common stock subject to repurchase for which level 3 inputs were significant to their valuation for the six months ended March 28, 2014 (in thousands): | The following table presents the changes in the Company’s common stock subject to repurchase for which level 3 inputs were significant to their valuation for fiscal 2013 (in thousands): | |||||||||
Common Stock | Common Stock | |||||||||
Subject to | Subject to | |||||||||
Repurchase | Repurchase | |||||||||
Balance, September 27, 2013 | $ | 158,708 | Balance, September 28, 2012 | $ | 167,461 | |||||
Repurchases of common stock | (763 | ) | Issuances of common stock | 1,904 | ||||||
Reclassification of common stock subject to repurchase | (157,945 | ) | Repurchases of common stock | (27,474 | ) | |||||
Change in fair market value of common stock | 16,817 | |||||||||
Balance, March 28, 2014 | $ | — | ||||||||
Balance, September 27, 2013 | $ | 158,708 | ||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements of Aramark Holdings Corporation and Subsidiaries (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Consensed Consolidated Balance Sheet | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | CONDENSED CONSOLIDATING BALANCE SHEETS | |||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | September 27, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
March 28, 2014 | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | (Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | Current Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets: | Cash and cash equivalents | $ | — | $ | 23 | $ | 40.5 | $ | 47.5 | $ | — | $ | 111 | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 30.1 | $ | 43.8 | $ | 65.3 | $ | — | $ | 139.2 | Receivables | — | 1.4 | 242.9 | 1,161.60 | — | 1,405.90 | |||||||||||||||||||||||||||||||
Receivables | — | 0.6 | 321 | 1,201.40 | — | 1,523.00 | Inventories, at lower of cost or market | — | 15.9 | 441 | 85.1 | — | 542 | |||||||||||||||||||||||||||||||||||||
Inventories, at lower of cost or market | — | 15.6 | 453.4 | 80.9 | — | 549.9 | Prepayments and other current assets | — | 46.2 | 103.1 | 79 | — | 228.3 | |||||||||||||||||||||||||||||||||||||
Prepayments and other current assets | — | 32.6 | 83.2 | 87.8 | — | 203.6 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | — | 86.5 | 827.5 | 1,373.20 | — | 2,287.20 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | — | 78.9 | 901.4 | 1,435.40 | — | 2,415.70 | ||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, net | — | 23.8 | 748.1 | 189 | — | 960.9 | Property and Equipment, net | — | 24.4 | 751.2 | 201.7 | — | 977.3 | |||||||||||||||||||||||||||||||||||||
Goodwill | — | 173.1 | 3,981.70 | 460.6 | — | 4,615.40 | Goodwill | — | 173.1 | 3,994.60 | 452.3 | — | 4,620.00 | |||||||||||||||||||||||||||||||||||||
Investment in and Advances to Subsidiaries | 1,699.90 | 5,886.60 | 477.2 | 114.5 | (8,178.2 | ) | — | Investment in and Advances to Subsidiaries | 1,062.70 | 6,267.40 | 444.8 | 124.5 | (7,899.4 | ) | — | |||||||||||||||||||||||||||||||||||
Other Intangible Assets | — | 29.7 | 1,159.50 | 138.1 | — | 1,327.30 | Other Intangible Assets | — | 32.6 | 1,230.00 | 146.1 | — | 1,408.70 | |||||||||||||||||||||||||||||||||||||
Other Assets | — | 70 | 631 | 268.3 | (2.0 | ) | 967.3 | Other Assets | — | 68.4 | 629.5 | 278 | (2.0 | ) | 973.9 | |||||||||||||||||||||||||||||||||||
$ | 1,699.90 | $ | 6,262.10 | $ | 7,898.90 | $ | 2,605.90 | $ | (8,180.2 | ) | $ | 10,286.60 | $ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | |||||||||||||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||
Current Liabilities: | Current Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term borrowings | $ | — | $ | 36 | $ | 11 | $ | 42.7 | $ | — | $ | 89.7 | Current maturities of long-term borrowings | $ | — | $ | 22.5 | $ | 12 | $ | 31.3 | $ | — | $ | 65.8 | |||||||||||||||||||||||||
Accounts payable | — | 166.9 | 396.3 | 241 | — | 804.2 | Accounts payable | — | 147 | 448.3 | 293.7 | — | 889 | |||||||||||||||||||||||||||||||||||||
Accrued expenses and other liabilities | 0.8 | 164.7 | 676.1 | 318 | 0.1 | 1,159.70 | Accrued expenses and other liabilities | 0.3 | 230.2 | 875.6 | 328.3 | 0.1 | 1,434.50 | |||||||||||||||||||||||||||||||||||||
Total current liabilities | 0.8 | 367.6 | 1,083.40 | 601.7 | 0.1 | 2,053.60 | Total current liabilities | 0.3 | 399.7 | 1,335.90 | 653.3 | 0.1 | 2,389.30 | |||||||||||||||||||||||||||||||||||||
Long-term Borrowings | — | 4,681.20 | 43.1 | 823.6 | — | 5,547.90 | Long-term Borrowings | — | 5,101.70 | 40.4 | 616.1 | — | 5,758.20 | |||||||||||||||||||||||||||||||||||||
Deferred Income Taxes and Other Noncurrent Liabilities | — | 320.9 | 573.5 | 81.4 | — | 975.8 | Deferred Income Taxes and Other Noncurrent Liabilities | — | 326.2 | 618.3 | 102.5 | — | 1,047.00 | |||||||||||||||||||||||||||||||||||||
Intercompany Payable | — | — | 5,277.50 | 1,183.30 | (6,460.8 | ) | — | Intercompany Payable | — | — | 5,016.00 | 1,305.70 | (6,321.7 | ) | — | |||||||||||||||||||||||||||||||||||
Common Stock Subject to Repurchase and Other | — | — | 10.2 | — | — | 10.2 | Common Stock Subject to Repurchase and other | 158.7 | — | 10.2 | — | — | 168.9 | |||||||||||||||||||||||||||||||||||||
Total Stockholders’ Equity | 1,699.10 | 892.4 | 911.2 | (84.1 | ) | (1,719.5 | ) | 1,699.10 | Total Equity | 903.7 | 824.8 | 856.8 | (101.8 | ) | (1,579.8 | ) | 903.7 | |||||||||||||||||||||||||||||||||
$ | 1,699.90 | $ | 6,262.10 | $ | 7,898.90 | $ | 2,605.90 | $ | (8,180.2 | ) | $ | 10,286.60 | $ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | |||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | CONDENSED CONSOLIDATING BALANCE SHEETS | |||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | September 28, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
September 27, 2013 | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | (Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | Current Assets: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets: | Cash and cash equivalents | $ | 0.1 | $ | 27.4 | $ | 41.7 | $ | 67.6 | $ | — | $ | 136.8 | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 23 | $ | 40.5 | $ | 47.5 | $ | — | $ | 111 | Receivables | — | 2.7 | 235.9 | 1,077.40 | — | 1,316.00 | |||||||||||||||||||||||||||||||
Receivables | — | 1.4 | 242.9 | 1,161.60 | — | 1,405.90 | Inventories, at lower of cost or market | — | 15.9 | 414.8 | 77.7 | — | 508.4 | |||||||||||||||||||||||||||||||||||||
Inventories, at lower of cost or market | — | 15.9 | 441 | 85.1 | — | 542 | Prepayments and other current assets | — | 13.4 | 144.4 | 66.5 | — | 224.3 | |||||||||||||||||||||||||||||||||||||
Prepayments and other current assets | — | 46.2 | 103.1 | 79 | — | 228.3 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 0.1 | 59.4 | 836.8 | 1,289.20 | — | 2,185.50 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | — | 86.5 | 827.5 | 1,373.20 | — | 2,287.20 | ||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, net | — | 25.6 | 738.5 | 212.2 | — | 976.3 | ||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, net | — | 24.4 | 751.2 | 201.7 | — | 977.3 | Goodwill | — | 173.1 | 3,987.20 | 569.2 | — | 4,729.50 | |||||||||||||||||||||||||||||||||||||
Goodwill | — | 173.1 | 3,994.60 | 452.3 | — | 4,620.00 | Investment in and Advances to Subsidiaries | 1,706.10 | 6,353.30 | 389.9 | 139.2 | (8,588.5 | ) | — | ||||||||||||||||||||||||||||||||||||
Investment in and Advances to Subsidiaries | 1,062.70 | 6,267.40 | 444.8 | 124.5 | (7,899.4 | ) | — | Other Intangible Assets | — | 42 | 1,366.60 | 186.5 | — | 1,595.10 | ||||||||||||||||||||||||||||||||||||
Other Intangible Assets | — | 32.6 | 1,230.00 | 146.1 | — | 1,408.70 | Other Assets | 11 | 64.2 | 603.7 | 324 | (2.0 | ) | 1,000.90 | ||||||||||||||||||||||||||||||||||||
Other Assets | — | 68.4 | 629.5 | 278 | (2.0 | ) | 973.9 | |||||||||||||||||||||||||||||||||||||||||||
1,717.20 | $ | 6,717.60 | $ | 7,922.70 | $ | 2,720.30 | $ | (8,590.5 | ) | $ | 10,487.30 | |||||||||||||||||||||||||||||||||||||||
$ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | ||||||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | Current Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Current Liabilities: | Current maturities of long-term borrowings | $ | — | $ | 0.7 | $ | 11.6 | $ | 25.2 | $ | — | $ | 37.5 | |||||||||||||||||||||||||||||||||||||
Current maturities of long-term borrowings | $ | — | $ | 22.5 | $ | 12 | $ | 31.3 | $ | — | $ | 65.8 | Accounts payable | — | 148.6 | 387.7 | 337 | — | 873.3 | |||||||||||||||||||||||||||||||
Accounts payable | — | 147 | 448.3 | 293.7 | — | $ | 889 | Accrued expenses and other liabilities | 21.2 | 146.1 | 798.1 | 287.4 | 0.1 | 1,252.90 | ||||||||||||||||||||||||||||||||||||
Accrued expenses and other liabilities | 0.3 | 230.2 | 875.6 | 328.3 | 0.1 | $ | 1,434.50 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 21.2 | 295.4 | 1,197.40 | 649.6 | 0.1 | 2,163.70 | ||||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 0.3 | 399.7 | 1,335.90 | 653.3 | 0.1 | 2,389.30 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term Borrowings | 595.5 | 4,586.00 | 38.4 | 751.4 | — | 5,971.30 | ||||||||||||||||||||||||||||||||||||||||||||
Long-term Borrowings | — | 5,101.70 | 40.4 | 616.1 | — | 5,758.20 | Deferred Income Taxes and Other Noncurrent Liabilities | — | 355 | 657.1 | 195.5 | — | 1,207.60 | |||||||||||||||||||||||||||||||||||||
Deferred Income Taxes and Other Noncurrent Liabilities | — | 326.2 | 618.3 | 102.5 | — | 1,047.00 | Intercompany Payable | — | — | 5,294.30 | 1,079.90 | (6,374.2 | ) | — | ||||||||||||||||||||||||||||||||||||
Intercompany Payable | — | — | 5,016.00 | 1,305.70 | (6,321.7 | ) | — | Common Stock Subject to Repurchase and other | 167.5 | — | 10.4 | — | — | 177.9 | ||||||||||||||||||||||||||||||||||||
Common Stock Subject to Repurchase and Other | 158.7 | — | 10.2 | — | — | 168.9 | Total Equity | 933 | 1,481.20 | 725.1 | 43.9 | (2,216.4 | ) | 966.8 | ||||||||||||||||||||||||||||||||||||
Total Stockholders’ Equity | 903.7 | 824.8 | 856.8 | (101.8 | ) | (1,579.8 | ) | 903.7 | ||||||||||||||||||||||||||||||||||||||||||
$ | 1,717.20 | $ | 6,717.60 | $ | 7,922.70 | $ | 2,720.30 | $ | (8,590.5 | ) | $ | 10,487.30 | ||||||||||||||||||||||||||||||||||||||
$ | 1,062.70 | $ | 6,652.40 | $ | 7,877.60 | $ | 2,575.80 | $ | (7,901.4 | ) | $ | 10,267.10 | ||||||||||||||||||||||||||||||||||||||
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | ||||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE FISCAL YEARS ENDED SEPTEMBER 27, 2013, SEPTEMBER 28, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
AND SEPTEMBER 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, | Additions | Reductions | Balance, | |||||||||||||||||||||||||||||||||||||||||||||||
Beginning of | End of | |||||||||||||||||||||||||||||||||||||||||||||||||
Period | Charged to | Deductions | Period | |||||||||||||||||||||||||||||||||||||||||||||||
Income | from | |||||||||||||||||||||||||||||||||||||||||||||||||
Reserves(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Description | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fiscal Year 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reserve for doubtful accounts, advances & current notes receivable | $ | 41,212 | $ | 11,297 | $ | 17,833 | $ | 34,676 | ||||||||||||||||||||||||||||||||||||||||||
Fiscal Year 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reserve for doubtful accounts, advances & current notes receivable | $ | 32,963 | $ | 26,718 | $ | 18,469 | $ | 41,212 | ||||||||||||||||||||||||||||||||||||||||||
Fiscal Year 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Reserve for doubtful accounts, advances & current notes receivable | $ | 36,886 | $ | 10,298 | $ | 14,221 | $ | 32,963 | ||||||||||||||||||||||||||||||||||||||||||
-1 | Amounts determined not to be collectible and charged against the reserve and translation. | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Condensed Consolidated Statement of Income and Comprehensive Income | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended September 27, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
For the three months ended March 28, 2014 | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (Parent) | |||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 1,034.00 | $ | 8,792.80 | $ | 4,118.80 | $ | — | $ | 13,945.60 | ||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Cost of services provided | — | 996.6 | 7,811.80 | 3,852.80 | — | 12,661.20 | ||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Depreciation and amortization | — | 21 | 418.9 | 102.2 | — | 542.1 | |||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | Selling and general corporate expenses | 0.9 | 82.5 | 125.7 | 18.8 | — | 227.9 | ||||||||||||||||||||||||||||||||||||||||||
(Parent) | Interest and other financing costs, net | 51 | 342.4 | (2.7 | ) | 33.1 | — | 423.8 | ||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 248.5 | $ | 2,217.80 | $ | 1,035.70 | $ | — | $ | 3,502.00 | Expense allocations | — | (362.8 | ) | 326.1 | 36.7 | — | — | ||||||||||||||||||||||||||||||
Costs and Expenses: | 51.9 | 1,079.70 | 8,679.80 | 4,043.60 | — | 13,855.00 | ||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 221 | 1,967.60 | 971.2 | — | 3,159.80 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 3.1 | 98.9 | 23.3 | — | 125.3 | Income (Loss) from Continuing Operations before Income Taxes | (51.9 | ) | (45.7 | ) | 113 | 75.2 | — | 90.6 | |||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 0.7 | 56.6 | 33.8 | 5 | — | 96.1 | Provision (Benefit) for Income Taxes | (19.2 | ) | (31.9 | ) | 52.3 | 18 | — | 19.2 | |||||||||||||||||||||||||||||||||||
Interest and other financing costs, net | — | 95.3 | (0.6 | ) | 7.4 | — | 102.1 | Equity in Net Income of Subsidiaries | 102.1 | — | — | — | (102.1 | ) | — | |||||||||||||||||||||||||||||||||||
Expense allocations | — | (129.2 | ) | 121.3 | 7.9 | — | — | |||||||||||||||||||||||||||||||||||||||||||
Income (Loss) from Continuing Operations | 69.4 | (13.8 | ) | 60.7 | 57.2 | (102.1 | ) | 71.4 | ||||||||||||||||||||||||||||||||||||||||||
0.7 | 246.8 | 2,221.00 | 1,014.80 | — | 3,483.30 | Loss from Discontinued Operations, net of tax | — | — | (1.0 | ) | — | — | (1.0 | ) | ||||||||||||||||||||||||||||||||||||
Income (Loss) before Income Taxes | (0.7 | ) | 1.7 | (3.2 | ) | 20.9 | — | 18.7 | Net income (loss) | 69.4 | (13.8 | ) | 59.7 | 57.2 | (102.1 | ) | 70. 4 | |||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (0.3 | ) | 0.5 | (1.8 | ) | 7.2 | — | 5.6 | Less: Net income attributable to noncontrolling interest | — | — | 0.8 | 0.2 | — | 1 | |||||||||||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 13.3 | — | — | — | (13.3 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 69.4 | (13.8 | ) | 58.9 | 57 | (102.1 | ) | 69.4 | ||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 12.9 | 1.2 | (1.4 | ) | 13.7 | (13.3 | ) | 13.1 | Other comprehensive income (loss), net of tax | 14.5 | 34.8 | 0.6 | (19.2 | ) | (16.2 | ) | 14.5 | |||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 83.9 | $ | 21 | $ | 59.5 | $ | 37.8 | $ | (118.3 | ) | $ | 83.9 | |||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 12.9 | 1.2 | (1.6 | ) | 13.7 | (13.3 | ) | 12.9 | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (5.1 | ) | (1.5 | ) | 0.5 | (8.2 | ) | 9.2 | (5.1 | ) | ||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $ | 7.8 | $ | (0.3 | ) | $ | (1.1 | ) | $ | 5.5 | $ | (4.1 | ) | $ | 7.8 | For the year ended September 28, 2012 | ||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | (Parent) | |||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 1,025.20 | $ | 8,427.60 | $ | 4,052.60 | $ | — | $ | 13,505.40 | ||||||||||||||||||||||||||||||||||||||
For the six months ended March 28, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Cost of services provided | — | 962 | 7,478.40 | 3,751.10 | — | 12,191.50 | |||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 19.2 | 403.8 | 106.2 | — | 529.2 | ||||||||||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 0.5 | 58.5 | 123 | 21 | — | 203 | ||||||||||||||||||||||||||||||||||||||||||||
Interest and other financing costs, net | 55 | 364 | (0.4 | ) | 38.2 | — | 456.8 | |||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Expense allocations | — | (353.1 | ) | 316 | 37.1 | — | — | |||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | 55.5 | 1,050.60 | 8,320.80 | 3,953.60 | — | 13,380.50 | |||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 512.5 | $ | 4,607.80 | $ | 2,144.80 | $ | — | $ | 7,265.10 | Income (Loss) from Continuing Operations before Income Taxes | (55.5 | ) | (25.4 | ) | 106.8 | 99 | — | 124.9 | |||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (20.9 | ) | (9.2 | ) | 30.4 | 17.7 | — | 18 | ||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | Equity in Net Income of Subsidiaries | 138.2 | — | — | — | (138.2 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 454.7 | 4,069.70 | 1,990.20 | — | 6,514.60 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 8.1 | 205.3 | 48.7 | — | 262.1 | Income (Loss) from Continuing Operations | 103.6 | (16.2 | ) | 76.4 | 81.3 | (138.2 | ) | 106. 9 | |||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 6 | 127.4 | 67.3 | 9.6 | — | 210.3 | Income from Discontinued Operations, net of tax | — | — | 0.3 | — | — | 0.3 | |||||||||||||||||||||||||||||||||||||
Interest and other financing costs | — | 170.5 | (0.7 | ) | 15.6 | — | 185.4 | |||||||||||||||||||||||||||||||||||||||||||
Expense allocations | — | (252.3 | ) | 236.1 | 16.2 | — | — | Net income (loss) | 103.6 | (16.2 | ) | 76.7 | 81.3 | (138.2 | ) | 107. 2 | ||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | 1.1 | 2.5 | — | 3.6 | ||||||||||||||||||||||||||||||||||||||||||||
6 | 508.4 | 4,577.70 | 2,080.30 | — | 7,172.40 | |||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 103.6 | (16.2 | ) | 75.6 | 78.8 | (138.2 | ) | 103.6 | ||||||||||||||||||||||||||||||||||||||||||
Income (Loss) before Income Taxes | (6.0 | ) | 4.1 | 30.1 | 64.5 | — | 92.7 | Other comprehensive income (loss), net of tax | 3.6 | 32.9 | 2.3 | (28.4 | ) | (6.8 | ) | 3.6 | ||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (2.1 | ) | 1.2 | 13.3 | 22.2 | — | 34.6 | |||||||||||||||||||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 61.6 | — | — | — | (61.6 | ) | — | Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 107.2 | $ | 16.7 | $ | 77.9 | $ | 50.4 | $ | (145.0 | ) | $ | 107.2 | |||||||||||||||||||||||||||||
Net income | 57.7 | 2.9 | 16.8 | 42.3 | (61.6 | ) | 58.1 | |||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.4 | — | — | 0.4 | CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||||||||||||||||
For the year ended September 30, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to ARAMARK Holdings stockholders | 57.7 | 2.9 | 16.4 | 42.3 | (61.6 | ) | 57.7 | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | 0.4 | 10.1 | 1.6 | (17.4 | ) | 5.7 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 58.1 | $ | 13 | $ | 18 | $ | 24.9 | $ | (55.9 | ) | $ | 58.1 | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 1,012.70 | $ | 8,120.80 | $ | 3,948.90 | $ | — | $ | 13,082.40 | ||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | Cost of services provided | — | 948.3 | 7,238.50 | 3,650.00 | — | 11,836.80 | |||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 20 | 383.2 | 107.3 | — | 510.5 | ||||||||||||||||||||||||||||||||||||||||||||
For the three months ended March 29, 2013 | Selling and general corporate expenses | 1.1 | 56.9 | 107.1 | 22.9 | — | 188 | |||||||||||||||||||||||||||||||||||||||||||
Interest and other financing costs, net | 24.9 | 410.3 | 0.1 | 15.9 | — | 451.2 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Expense allocations | — | (377.8 | ) | 345.6 | 32.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||
26 | 1,057.70 | 8,074.50 | 3,828.30 | — | 12,986.50 | |||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Income (Loss) from Continuing Operations before Income Taxes | (26.0 | ) | (45.0 | ) | 46.3 | 120.6 | — | 95.9 | ||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Provision (Benefit) for Income Taxes | (9.8 | ) | (35.6 | ) | 18.9 | 25.8 | — | (0.7 | ) | ||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | Equity in Net Income of Subsidiaries | 100 | — | — | — | (100.0 | ) | — | |||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 250.8 | $ | 2,131.90 | $ | 1,021.00 | $ | — | $ | 3,403.70 | Income (Loss) from Continuing Operations | 83.8 | (9.4 | ) | 27.4 | 94.8 | (100.0 | ) | 96.6 | |||||||||||||||||||||||||||||
Loss from Discontinued Operations, net of tax | — | — | (11.7 | ) | — | — | (11.7 | ) | ||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 255.1 | 1,896.10 | 981 | — | 3,132.20 | Net income (loss) | 83.8 | (9.4 | ) | 15.7 | 94.8 | (100.0 | ) | 84.9 | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 4.9 | 104.3 | 26.1 | — | 135.3 | Less: Net income attributable to noncontrolling interest | — | — | — | 1.1 | — | 1.1 | |||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | (0.3 | ) | 21.3 | 30.3 | 4.7 | — | 56 | |||||||||||||||||||||||||||||||||||||||||||
Interest and other financing costs | 37.1 | 103.3 | (0.5 | ) | 7.2 | — | 147.1 | Net income (loss) attributable to ARAMARK Holdings stockholders | 83.8 | (9.4 | ) | 15.7 | 93.7 | (100.0 | ) | 83.8 | ||||||||||||||||||||||||||||||||||
Expense allocations | — | (121.8 | ) | 114.8 | 7 | — | — | Other comprehensive income (loss), net of tax | 51.2 | 42.6 | (1.1 | ) | (0.9 | ) | (40.6 | ) | 51.2 | |||||||||||||||||||||||||||||||||
36.8 | 262.8 | 2,145.00 | 1,026.00 | — | 3,470.60 | Comprehensive income attributable to ARAMARK Holdings stockholders | $ | 135 | $ | 33.2 | $ | 14.6 | $ | 92.8 | $ | (140.6 | ) | $ | 135 | |||||||||||||||||||||||||||||||
Loss before Income Taxes | (36.8 | ) | (12.0 | ) | (13.1 | ) | (5.0 | ) | — | (66.9 | ) | |||||||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (13.8 | ) | (7.5 | ) | (6.8 | ) | 1.1 | — | (27.0 | ) | ||||||||||||||||||||||||||||||||||||||||
Equity in Net Loss of Subsidiaries | (17.1 | ) | — | — | — | 17.1 | — | |||||||||||||||||||||||||||||||||||||||||||
Net loss | (40.1 | ) | (4.5 | ) | (6.3 | ) | (6.1 | ) | 17.1 | (39.9 | ) | |||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||
Net loss attributable to ARAMARK Holdings stockholders | (40.1 | ) | (4.5 | ) | (6.5 | ) | (6.1 | ) | 17.1 | (40.1 | ) | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (20.8 | ) | 11 | (3.0 | ) | (38.0 | ) | 30 | (20.8 | ) | ||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $ | (60.9 | ) | $ | 6.5 | $ | (9.5 | ) | $ | (44.1 | ) | $ | 47.1 | $ | (60.9 | ) | ||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||
For the six months ended March 29, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sales | $ | — | $ | 507.9 | $ | 4,351.10 | $ | 2,080.70 | $ | — | $ | 6,939.70 | ||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services provided | — | 494.4 | 3,845.00 | 1,964.40 | — | 6,303.80 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 9.8 | 206.7 | 52.2 | — | 268.7 | ||||||||||||||||||||||||||||||||||||||||||||
Selling and general corporate expenses | 0.8 | 39.4 | 61.7 | 9.7 | — | 111.6 | ||||||||||||||||||||||||||||||||||||||||||||
Interest and other financing costs | 51 | 191 | (0.5 | ) | 19 | — | 260.5 | |||||||||||||||||||||||||||||||||||||||||||
Expense allocations | — | (207.9 | ) | 196.6 | 11.3 | — | — | |||||||||||||||||||||||||||||||||||||||||||
51.8 | 526.7 | 4,309.50 | 2,056.60 | — | 6,944.60 | |||||||||||||||||||||||||||||||||||||||||||||
Income (Loss) before Income Taxes | (51.8 | ) | (18.8 | ) | 41.6 | 24.1 | — | (4.9 | ) | |||||||||||||||||||||||||||||||||||||||||
Provision (Benefit) for Income Taxes | (19.4 | ) | (11.6 | ) | 11.9 | 10.9 | — | (8.2 | ) | |||||||||||||||||||||||||||||||||||||||||
Equity in Net Income of Subsidiaries | 35.1 | — | — | — | (35.1 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | 2.7 | (7.2 | ) | 29.7 | 13.2 | (35.1 | ) | 3.3 | ||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | 0.4 | 0.2 | — | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to ARAMARK Holdings stockholders | 2.7 | (7.2 | ) | 29.3 | 13 | (35.1 | ) | 2.7 | ||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax | (16.1 | ) | 24.6 | (3.0 | ) | (44.3 | ) | 22.7 | (16.1 | ) | ||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | $ | (13.4 | ) | $ | 17.4 | $ | 26.3 | $ | (31.3 | ) | $ | (12.4 | ) | $ | (13.4 | ) | ||||||||||||||||||||||||||||||||||
Schedule of Condensed Consolidated Cash Flow Statement | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended September 27, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | ||||||||||||||||||||||||||||||||||||||||||||||||
For the six months ended March 28, 2014 | Corporation | (Issuer) | ||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | Net cash provided by operating activities | $ | 599.9 | $ | 97.7 | $ | 585.5 | $ | 64 | $ | (651.2 | ) | $ | 695.9 | ||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment and client contract investments | — | (14.3 | ) | (292.4 | ) | (86.2 | ) | — | (392.9 | ) | ||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Disposals of property and equipment | — | — | 5.4 | 5.9 | — | 11.3 | ||||||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Proceeds from divestitures | — | — | 0.9 | — | — | 0.9 | |||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | Acquisitions of businesses, net of cash acquired | — | — | (22.6 | ) | — | — | (22.6 | ) | ||||||||||||||||||||||||||||||||||||||||
(Parent) | Other investing activities | — | (1.4 | ) | 27.4 | (8.1 | ) | — | 17.9 | |||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (3.4 | ) | $ | 56.6 | $ | (143.7 | ) | $ | (33.7 | ) | $ | (3.2 | ) | $ | (127.4 | ) | |||||||||||||||||||||||||||||||||
Net cash used in investing activities | — | (15.7 | ) | (281.3 | ) | (88.4 | ) | — | (385.4 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment, client contract investments and other | — | (9.0 | ) | (134.5 | ) | (28.7 | ) | — | (172.2 | ) | Cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||
Disposals of property and equipment | — | 7.8 | 2.2 | 2.6 | — | 12.6 | Proceeds from additional long-term borrowings | — | 3,071.40 | — | 9.1 | — | 3,080.50 | |||||||||||||||||||||||||||||||||||||
Proceeds from divestiture | — | — | 24 | — | — | 24 | Payments of long-term borrowings | (600.0 | ) | (2,521.2 | ) | (13.7 | ) | (180.0 | ) | — | (3,314.9 | ) | ||||||||||||||||||||||||||||||||
Acquisitions of businesses, net of cash acquired | — | — | (5.2 | ) | (5.6 | ) | — | (10.8 | ) | Net change in funding under the Receivables Facility | — | — | — | 36.2 | — | 36.2 | ||||||||||||||||||||||||||||||||||
Other investing activities | — | 0.1 | 6.8 | (1.8 | ) | — | 5.1 | Proceeds from issuance of common stock | — | 5.6 | — | — | — | 5.6 | ||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | (42.4 | ) | — | — | — | (42.4 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | — | (1.1 | ) | (106.7 | ) | (33.5 | ) | — | (141.3 | ) | Distribution in connection with spin-off of Seamless | — | (47.4 | ) | — | — | — | (47.4 | ) | |||||||||||||||||||||||||||||||
Other financing activities | — | (50.3 | ) | (2.7 | ) | (0.9 | ) | — | (53.9 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | Change in intercompany, net | — | (502.1 | ) | (289.0 | ) | 139.9 | 651.2 | — | |||||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | — | 1,430.70 | — | 303.6 | — | 1,734.30 | ||||||||||||||||||||||||||||||||||||||||||||
Payments of long-term borrowings | — | (1,824.4 | ) | (6.8 | ) | (85.9 | ) | — | (1,917.1 | ) | Net cash provided by (used in) financing activities | (600.0 | ) | (86.4 | ) | (305.4 | ) | 4.3 | 651.2 | (336.3 | ) | |||||||||||||||||||||||||||||
Net change in funding under the Receivables Facility | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Payment of dividends | — | (17.3 | ) | — | — | — | (17.3 | ) | Decrease in cash and cash equivalents | (0.1 | ) | (4.4 | ) | (1.2 | ) | (20.1 | ) | — | (25.8 | ) | ||||||||||||||||||||||||||||||
Proceeds from initial public offering, net | 524.1 | — | — | — | — | 524.1 | Cash and cash equivalents, beginning of period | 0.1 | 27.4 | 41.7 | 67.6 | — | 136.8 | |||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 3.4 | — | — | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | (1.5 | ) | — | — | — | (1.5 | ) | Cash and cash equivalents, end of period | $ | — | $ | 23 | $ | 40.5 | $ | 47.5 | $ | — | $ | 111 | |||||||||||||||||||||||||||||
Other financing activities | — | (23.9 | ) | (1.9 | ) | (3.2 | ) | — | (29.0 | ) | ||||||||||||||||||||||||||||||||||||||||
Change in intercompany, net | (520.7 | ) | 384.6 | 262.4 | (129.5 | ) | 3.2 | — | ||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 3.4 | (48.4 | ) | 253.7 | 85 | 3.2 | 296.9 | For the year ended September 28, 2012 | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in cash and cash equivalents | — | 7.1 | 3.3 | 17.8 | — | 28.2 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | 23 | 40.5 | 47.5 | — | 111 | ||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 30.1 | $ | 43.8 | $ | 65.3 | $ | — | $ | 139.2 | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||||||||||||||
(Parent) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 62.2 | $ | 532.5 | $ | 178.7 | $ | (81.7 | ) | $ | 691.7 | |||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
ARAMARK HOLDINGS CORPORATION AND SUBSIDIARIES | Purchases of property and equipment and client contract investments | — | (11.7 | ) | (262.0 | ) | (80.9 | ) | — | (354.6 | ) | |||||||||||||||||||||||||||||||||||||||
Disposals of property and equipment | — | 0.7 | 5.2 | 5.8 | — | 11.7 | ||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | Proceeds from divestiture | — | — | 6.5 | — | — | 6.5 | |||||||||||||||||||||||||||||||||||||||||||
Acquisitions of businesses | — | — | (139.9 | ) | (11.9 | ) | — | (151.8 | ) | |||||||||||||||||||||||||||||||||||||||||
For the six months ended March 29, 2013 | Other investing activities | — | 1.3 | 3.6 | 1.7 | — | 6.6 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | Net cash used in investing activities | — | (9.7 | ) | (386.6 | ) | (85.3 | ) | — | (481.6 | ) | |||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | — | — | 0.2 | 3.2 | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||
ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | Payments of long-term borrowings | — | (250.7 | ) | (12.9 | ) | (25.3 | ) | — | (288.9 | ) | ||||||||||||||||||||||||||||||||||
Holdings | Corporation | Guarantors | Net change in funding under the Receivables Facility | — | — | — | 37.9 | — | 37.9 | |||||||||||||||||||||||||||||||||||||||||
Corporation | (Issuer) | Proceeds from issuance of common stock | — | 11.3 | — | — | — | 11.3 | ||||||||||||||||||||||||||||||||||||||||||
(Parent) | Repurchase of common stock | — | (37.7 | ) | — | — | — | (37.7 | ) | |||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 609.4 | $ | 22.8 | $ | 48.7 | $ | 13.3 | $ | (643.1 | ) | $ | 51.1 | Other financing activities | — | (6.1 | ) | (3.8 | ) | (2.8 | ) | — | (12.7 | ) | ||||||||||||||||||||||||||
Change in intercompany, net | — | 120.7 | (119.4 | ) | (83.0 | ) | 81.7 | — | ||||||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment, client contract investments and other | — | (5.2 | ) | (130.5 | ) | (31.5 | ) | — | (167.2 | ) | Net cash used in financing activities | — | (162.5 | ) | (135.9 | ) | (70.0 | ) | 81.7 | (286.7 | ) | |||||||||||||||||||||||||||||
Disposals of property and equipment | — | — | 2.3 | 4.2 | — | 6.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proceeds from divestitures | — | — | 0.9 | — | — | 0.9 | Increase (Decrease) in cash and cash equivalents | — | (110.0 | ) | 10 | 23.4 | — | (76.6 | ) | |||||||||||||||||||||||||||||||||||
Acquisitions of businesses, net of cash acquired | — | — | (22.5 | ) | — | — | (22.5 | ) | Cash and cash equivalents, beginning of period | 0.1 | 137.4 | 31.7 | 44.2 | — | 213.4 | |||||||||||||||||||||||||||||||||||
Other investing activities | — | 3.1 | 26.8 | (6.9 | ) | — | 23 | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 0.1 | $ | 27.4 | $ | 41.7 | $ | 67.6 | $ | — | $ | 136.8 | ||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | — | (2.1 | ) | (123.0 | ) | (34.2 | ) | — | (159.3 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | |||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | — | 3,168.30 | — | 62.4 | — | 3,230.70 | For the year ended September 30, 2011 | |||||||||||||||||||||||||||||||||||||||||||
Payments of long-term borrowings | (600.0 | ) | (2,255.8 | ) | (6.8 | ) | (181.0 | ) | — | (3,043.6 | ) | (in millions) | ||||||||||||||||||||||||||||||||||||||
Net change in funding under the Receivables Facility | — | — | — | 36.2 | — | 36.2 | ||||||||||||||||||||||||||||||||||||||||||||
Distribution in connection with spin-off of Seamless Holdings | — | (47.4 | ) | — | — | — | (47.4 | ) | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 4.4 | — | — | — | 4.4 | ARAMARK | ARAMARK | Guarantors | Non | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | (33.2 | ) | — | — | — | (33.2 | ) | Holdings | Corporation | Guarantors | |||||||||||||||||||||||||||||||||||||||
Other financing activities | (9.4 | ) | (44.9 | ) | (1.2 | ) | (0.4 | ) | — | (55.9 | ) | Corporation | (Issuer) | |||||||||||||||||||||||||||||||||||||
Change in intercompany, net | — | (814.4 | ) | 79.9 | 91.4 | 643.1 | — | (Parent) | ||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 131.9 | $ | 38.2 | $ | 456 | $ | (115.9 | ) | $ | (206.6 | ) | $ | 303.6 | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (609.4 | ) | (23.0 | ) | 71.9 | 8.6 | 643.1 | 91.2 | Cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment and client contract investments | — | (9.5 | ) | (206.3 | ) | (77.9 | ) | — | (293.7 | ) | ||||||||||||||||||||||||||||||||||||||||
Decrease in cash and cash equivalents | — | (2.3 | ) | (2.4 | ) | (12.3 | ) | — | (17.0 | ) | Disposals of property and equipment | — | 1 | 10 | 10.5 | — | 21.5 | |||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 0.1 | 27.4 | 41.7 | 67.5 | — | 136.7 | Proceeds from divestitures | — | — | 71.5 | 11.6 | 83.1 | ||||||||||||||||||||||||||||||||||||||
Acquisitions of businesses | — | — | (157.0 | ) | — | — | (157.0 | ) | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 0.1 | $ | 25.1 | $ | 39.3 | $ | 55.2 | $ | — | $ | 119.7 | Other investing activities | — | 0.7 | (13.7 | ) | (4.0 | ) | — | (17.0 | ) | ||||||||||||||||||||||||||||
Net cash used in investing activities | — | (7.8 | ) | (295.5 | ) | (59.8 | ) | — | (363.1 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from long-term borrowings | 594 | — | 0.2 | 22 | — | 616.2 | ||||||||||||||||||||||||||||||||||||||||||||
Payments of long-term borrowings | — | (5.7 | ) | (13.5 | ) | (12.0 | ) | — | (31.2 | ) | ||||||||||||||||||||||||||||||||||||||||
Net change in funding under the Receivables Facility | — | — | — | 225.9 | 225.9 | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | — | 4.6 | — | — | — | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||
Repurchase of common stock | — | (16.1 | ) | — | — | — | (16.1 | ) | ||||||||||||||||||||||||||||||||||||||||||
Dividends paid | (711.2 | ) | (132.9 | ) | — | (73.7 | ) | 206.6 | (711.2 | ) | ||||||||||||||||||||||||||||||||||||||||
Net proceeds from sale of subsidiary shares to noncontrolling interest | — | 48.4 | — | — | 48.4 | |||||||||||||||||||||||||||||||||||||||||||||
Other financing activities | (14.6 | ) | (6.6 | ) | (3.1 | ) | (0.3 | ) | — | (24.6 | ) | |||||||||||||||||||||||||||||||||||||||
Change in intercompany, net | — | 135.9 | (146.2 | ) | 10.3 | — | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | (131.8 | ) | 27.6 | (162.6 | ) | 172.2 | 206.6 | 112 | ||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in cash and cash equivalents | 0.1 | 58 | (2.1 | ) | (3.5 | ) | — | 52.5 | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | 79.4 | 33.8 | 47.7 | — | 160.9 | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 0.1 | $ | 137.4 | $ | 31.7 | $ | 44.2 | $ | — | $ | 213.4 | ||||||||||||||||||||||||||||||||||||||
EQUITY_INVESTMENTS_Tables
EQUITY INVESTMENTS (Tables) | 6 Months Ended | ||||||||
Mar. 28, 2014 | |||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||
Table of Summarized Financial Information of Equity Investments, Income Statement | ' | ||||||||
Summarized financial information for AIM Services Co., Ltd. follows (in thousands): | |||||||||
Three Months | Three Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Sales | $ | 366,242 | $ | 414,571 | |||||
Gross profit | 39,543 | 45,665 | |||||||
Net income | 5,589 | 5,978 | |||||||
Six Months | Six Months | ||||||||
Ended | Ended | ||||||||
March 28, 2014 | March 29, 2013 | ||||||||
Sales | $ | 765,343 | $ | 895,472 | |||||
Gross profit | 85,564 | 102,405 | |||||||
Net income | 13,332 | 15,380 |
Recovered_Sheet1
Basis Of Presentation and Summary of Significant Accounting Policies Tax Effects on Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Pension plan adjustments | $82 | $294 | $166 | $611 | ($10,198) | $8,646 | $2,207 |
Foreign currency translation adjustments | 1,430 | 2,707 | 4,027 | 7,021 | 13,690 | 2,684 | -5,515 |
Fair value of cash flow hedges | 1,654 | -1,690 | -1,343 | -5,536 | -5,776 | -22,197 | -36,050 |
Share of equity investee's comprehensive loss | ' | ' | ' | ' | ($1,510) | $7,200 | $0 |
Recovered_Sheet2
Basis Of Presentation and Summary of Significant Accounting Policies Accumulated Other Comprehensive Loss (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | |||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ' |
Pension plan adjustments | ($30,800) | ($30,523) | ($50,268) |
Foreign currency translation adjustments | 2,300 | 3,287 | 20,429 |
Fair value of cash flow hedges | -22,300 | -23,994 | -33,106 |
Share of equity investee's Accumulated Other Comprehensive loss | -8,000 | -7,995 | -10,800 |
Accumulated other comprehensive income (loss), net of tax | ($58,840) | ($59,225) | ($73,745) |
Recovered_Sheet3
Basis Of Presentation and Summary of Significant Accounting Policies Current Assets (Detail) | Sep. 27, 2013 | Sep. 28, 2012 |
Components Of Inventories [Line Items] | ' | ' |
Percentage of inventory | 100.00% | 100.00% |
Food | ' | ' |
Components Of Inventories [Line Items] | ' | ' |
Percentage of inventory | 40.40% | 39.50% |
Uniform and Career Apparel | ' | ' |
Components Of Inventories [Line Items] | ' | ' |
Percentage of inventory | 56.50% | 57.20% |
Parts, supplies and novelties | ' | ' |
Components Of Inventories [Line Items] | ' | ' |
Percentage of inventory | 3.10% | 3.30% |
Basis_Of_Presentation_and_Summ3
Basis Of Presentation and Summary of Significant Accounting Policies Property and Equipment (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation | $239.10 | $236.60 | $234.50 |
Buildings and improvements | Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '10 years | ' | ' |
Buildings and improvements | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '40 years | ' | ' |
Service equipment and fixtures | Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '3 years | ' | ' |
Service equipment and fixtures | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '10 years | ' | ' |
Basis_Of_Presentation_and_Summ4
Basis Of Presentation and Summary of Significant Accounting Policies Other Assets (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
Other Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amortization | ' | ' | ' | ' | $100,900,000 | $86,900,000 | $76,700,000 |
AIM Services Co., Ltd | ' | ' | ' | ' | ' | ' | ' |
Other Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Ownership interest in AIM Services Co., Ltd. | 50.00% | ' | 50.00% | ' | 50.00% | ' | ' |
Equity method investments | 184,600,000 | ' | 184,600,000 | ' | 190,700,000 | 233,400,000 | ' |
Current assets | ' | ' | ' | ' | 353,240,000 | 433,584,000 | ' |
Noncurrent assets | ' | ' | ' | ' | 169,469,000 | 222,813,000 | ' |
Current liabilities | ' | ' | ' | ' | 291,926,000 | 374,062,000 | ' |
Noncurrent liabilities | ' | ' | ' | ' | 50,880,000 | 74,680,000 | ' |
Sales | 366,242,000 | 414,571,000 | 765,343,000 | 895,472,000 | 1,693,598,000 | 1,916,620,000 | 1,772,143,000 |
Gross profit | 39,543,000 | 45,665,000 | 85,564,000 | 102,405,000 | 192,857,000 | 222,033,000 | 222,970,000 |
Net income | 5,589,000 | 5,978,000 | 13,332,000 | 15,380,000 | 29,236,000 | 39,174,000 | 41,949,000 |
Equity in undistributed earnings, net of amortization | 2,200,000 | 1,300,000 | 5,400,000 | 5,200,000 | 11,500,000 | 14,700,000 | 18,000,000 |
Cash distributions | ' | ' | ' | ' | $7,900,000 | $34,900,000 | $10,500,000 |
Basis_Of_Presentation_and_Summ5
Basis Of Presentation and Summary of Significant Accounting Policies Other accrued expenses and liabilities (Detail) (USD $) | Sep. 27, 2013 | Sep. 28, 2012 |
In Millions, unless otherwise specified | ||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' |
Advanced payments from clients, current | $292.90 | $278.50 |
Accrued Insurance | $93.20 | $92.20 |
Basis_Of_Presentation_and_Summ6
Basis Of Presentation and Summary of Significant Accounting Policies Earnings Per Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income from Continuing Operations attributable to ARAMARK Holdings stockholders | ' | ' | ' | ' | $70,386 | $103,254 | $95,578 |
Income (loss) from Discontinued Operations attributable to ARAMARK Holdings stockholders | ' | ' | ' | ' | -1,030 | 297 | -11,732 |
Net income (loss) attributable to ARAMARK Holdings stockholders | $12,916 | ($40,104) | $57,678 | $2,710 | $69,356 | $103,551 | $83,846 |
Basic weighted-averages shares outstanding | 230,693,000 | 201,468,000 | 218,653,000 | 201,728,000 | 201,916,000 | 203,211,000 | 203,525,000 |
Effect of dilutive securities | 12,683,000 | ' | 10,757,000 | 7,113,000 | 7,454,000 | 6,496,000 | 6,474,000 |
Diluted weighted-averages shares outstanding | 243,376,000 | 201,468,000 | 229,410,000 | 208,841,000 | 209,370,000 | 209,707,000 | 209,999,000 |
Basic: | ' | ' | ' | ' | ' | ' | ' |
Income from Continuing Operations | ' | ' | ' | ' | $0.35 | $0.51 | $0.47 |
Income (loss) from Discontinued Operations | ' | ' | ' | ' | ($0.01) | ' | ($0.06) |
Net income | $0.06 | ($0.20) | $0.26 | $0.01 | $0.34 | $0.51 | $0.41 |
Diluted: | ' | ' | ' | ' | ' | ' | ' |
Income from Continuing Operations | ' | ' | ' | ' | $0.34 | $0.49 | $0.46 |
Income (loss) from Discontinued Operations | ' | ' | ' | ' | ($0.01) | ' | ($0.06) |
Net income | $0.05 | ($0.20) | $0.25 | $0.01 | $0.33 | $0.49 | $0.40 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | 8,800,000 | 3,700,000 | 6,400,000 | ' | ' | ' |
Share-based awards | ' | ' | ' | ' | ' | ' | ' |
Diluted: | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | ' | ' | 6,000,000 | 3,200,000 | 7,200,000 |
Performance-based options | ' | ' | ' | ' | ' | ' | ' |
Diluted: | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | ' | ' | 7,800,000 | 8,700,000 | 7,200,000 |
Basis_Of_Presentation_and_Summ7
Basis Of Presentation and Summary of Significant Accounting Policies Supplemental Cash Flow Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | ' | ' |
Interest Paid | $192.70 | $237.50 | $350.60 | $422.50 | $386.40 |
Income taxes paid | 43.6 | 52.4 | 74.8 | 82.5 | 64.9 |
Capital lease transaction | ' | ' | 16.1 | 17 | 16.2 |
Payments Related to Tax Withholding for Share-based Compensation | ' | ' | 26.9 | 27 | 25.9 |
ARAMARK Holdings Corporation | Common Stock | ' | ' | ' | ' | ' |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Value | ' | ' | $3.50 | $6.70 | $4.80 |
Discontinued_Operations_Detail
Discontinued Operations (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
Galls LLC | Galls LLC | Galls LLC | Galls LLC | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from divestiture | $24,000,000 | $919,000 | $919,000 | $6,479,000 | $83,078,000 | $75,000,000 | ' | ' | ' |
Loss from Disposal of Discontinued Operation, before Income Tax | ' | ' | ' | ' | ' | ' | ' | ' | -1,500,000 |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | ' | ' | ' | ' | ' | ' | 0 | 0 | 162,294,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | -1,701,000 | 491,000 | 441,000 |
Income tax provision (benefit) | ' | ' | ' | ' | ' | ' | -671,000 | 194,000 | 175,000 |
Discontinued Operations, Income (Loss) Before Loss on Sale | ' | ' | ' | ' | ' | ' | -1,030,000 | 297,000 | 266,000 |
Loss on sale, net of tax | ' | ' | ' | ' | ' | ' | 0 | 0 | -11,998,000 |
Income (loss) from discontinued operations | ' | ' | ($1,030,000) | $297,000 | ($11,732,000) | ' | ($1,030,000) | $297,000 | ($11,732,000) |
Recovered_Sheet4
Acquisitions And Divestitures (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||
Jun. 29, 2012 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Oct. 03, 2011 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 30, 2012 | Sep. 30, 2011 | Mar. 18, 2011 | Sep. 28, 2012 | Sep. 30, 2011 | Dec. 30, 2011 | Apr. 01, 2011 | Jul. 01, 2011 | Sep. 30, 2011 | Mar. 28, 2014 | |
Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Masterplan | Masterplan | Masterplan | MESA | Chilean Subsidiary | Seamless North America, LLC | Galls LLC | McKinley Chalet Hotel [Member] | |||||||
Masterplan | |||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase consideration | ' | ' | ' | ' | ' | ' | $145,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | $154,154,000 | ' | ' | ' | ' | ' | ' | ' |
Refund of purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest related to subsidiary | ' | ' | ' | ' | ' | ' | ' | 10,200,000 | ' | 10,200,000 | ' | 10,200,000 | 10,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 400,000 | 400,000 | 800,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 400,000 | 900,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue attributable to acquired entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,000,000 | ' | ' | ' | 107,300,000 | 62,400,000 | ' | ' | ' | ' | ' |
Net income/(loss) attributable to acquired entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,600,000 | ' | ' | ' | -200,000 | -4,700,000 | ' | ' | ' | ' | ' |
Pretax transaction-related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from divestiture | ' | 24,000,000 | 919,000 | 919,000 | 6,479,000 | 83,078,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,200,000 | 11,600,000 | 50,000,000 | 75,000,000 | 24,000,000 |
Reduction in goodwill from MESA sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' |
Proceeds from indemnity claims | 5,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain related to settlement of indemnity claims | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,906,000 | ' | ' | ' | ' | ' | ' | ' |
Current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31,396,000 | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,736,000 | ' | ' | ' | ' | ' | ' | ' |
Other intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,800,000 | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | 4,615,402,000 | ' | 4,619,987,000 | 4,729,474,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 126,757,000 | ' | ' | ' | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 314,000 | ' | ' | ' | ' | ' | ' | ' |
Long-term borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -767,000 | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes and other noncurrent liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -17,196,000 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 154,154,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage ownership sold in Chilean subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.00% | ' | ' | ' |
Gain (Loss) on Sale of Business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | ' | ' | -6,700,000 |
Gain (Loss) on Sale, Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,800,000 | ' | ' | -9,100,000 |
Goodwill, Written off Related to Sale of Business Unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12,800,000 |
Recovered_Sheet5
Severance and Asset Write-Downs (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | |
Severance and Asset Write-Downs [Line Items] | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | $11,698,000 |
Restructuring Reserve | 35,700,000 | ' | 46,700,000 |
Severance And Other Costs [Member] | ' | ' | ' |
Severance and Asset Write-Downs [Line Items] | ' | ' | ' |
Severance costs | 1,800,000 | 40,800,000 | 63,900,000 |
Goodwill, Impairment Loss | ' | 11,700,000 | ' |
Other Asset Impairment Charges | ' | $11,400,000 | ' |
Recovered_Sheet6
Goodwill And Other Intangible Assets Goodwill and Other Intangible Assets (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Mar. 29, 2013 | Apr. 01, 2011 | Sep. 27, 2013 | Sep. 30, 2011 | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | |
Food and Support Services - International | Food and Support Services - International | Food and Support Services - International | Food and Support Services - International | Customer Relationships | Customer Relationships | Customer Relationships | Customer Relationships | Customer Relationships | Customer Relationships | ||||||
Minimum | Minimum | Maximum | Maximum | ||||||||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment charges | ' | ' | ' | ' | ' | ' | $5,300,000 | $16,900,000 | $5,300,000 | ' | ' | ' | ' | ' | ' |
Goodwill impairment loss | ' | ' | 11,698,000 | ' | ' | 11,700,000 | 4,000,000 | 11,698,000 | ' | ' | ' | ' | ' | ' | ' |
Impairment of intangible assets (excluding goodwill) | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived intangible asset, useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '5 years | '24 years | '24 years |
Acquired finite-lived intangible assets, weighted average useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years | '11 years | ' | ' | ' | ' |
Amortization of intangible assets | 85,500,000 | 96,300,000 | 192,000,000 | 198,000,000 | 193,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired intangible asset amount | ' | ' | $21,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet7
Goodwill and Other Intangible Assets Rollforward by Segment (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 29, 2013 | Apr. 01, 2011 | Mar. 28, 2014 | Sep. 27, 2013 |
Goodwill [Roll Forward] | ' | ' | ' | ' |
Goodwill, beginning balance | ' | ' | $4,619,987 | $4,729,474 |
Acquisitions and Divestitures | ' | ' | -11,103 | 7,398 |
Impairment | ' | ' | ' | -11,698 |
Translation and Other | ' | ' | 6,518 | -105,187 |
Goodwill, ending balance | ' | ' | 4,615,402 | 4,619,987 |
Food and Support Services - North America | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' |
Goodwill, beginning balance | ' | ' | 3,595,048 | 3,701,137 |
Acquisitions and Divestitures | ' | ' | -11,103 | 7,398 |
Impairment | ' | ' | ' | 0 |
Translation and Other | ' | ' | -176 | -113,487 |
Goodwill, ending balance | ' | ' | 3,583,769 | 3,595,048 |
Food and Support Services - International | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' |
Goodwill, beginning balance | ' | ' | 451,154 | 454,552 |
Acquisitions and Divestitures | ' | ' | 0 | 0 |
Impairment | -11,700 | -4,000 | ' | -11,698 |
Translation and Other | ' | ' | 6,694 | 8,300 |
Goodwill, ending balance | ' | ' | 457,848 | 451,154 |
Uniform and Career Apparel | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' |
Goodwill, beginning balance | ' | ' | 573,785 | 573,785 |
Acquisitions and Divestitures | ' | ' | 0 | 0 |
Impairment | ' | ' | ' | 0 |
Translation and Other | ' | ' | 0 | 0 |
Goodwill, ending balance | ' | ' | $573,785 | $573,785 |
Recovered_Sheet8
Goodwill and Other Intangible Assets: Other Intangible Assets (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | |||
Other Intangible Assets | ' | ' | ' |
Gross Amount | $2,652,903 | $2,652,975 | $2,661,060 |
Accumulated Amortization | -1,325,554 | -1,244,211 | -1,065,911 |
Net Amount | 1,327,349 | 1,408,764 | 1,595,149 |
Customer Relationships | ' | ' | ' |
Other Intangible Assets | ' | ' | ' |
Gross Amount | 1,891,679 | 1,892,484 | 1,897,933 |
Accumulated Amortization | -1,323,921 | -1,242,578 | -1,064,492 |
Net Amount | 567,758 | 649,906 | 833,441 |
Trade names | ' | ' | ' |
Other Intangible Assets | ' | ' | ' |
Gross Amount | 761,224 | 760,491 | 763,127 |
Accumulated Amortization | -1,633 | -1,633 | -1,419 |
Net Amount | $759,591 | $758,858 | $761,708 |
Estimated_Amortization_Expense
Estimated Amortization Expense Of Intangible Assets (Detail) (USD $) | Sep. 27, 2013 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
2014 | $156,302 |
2015 | 131,992 |
2016 | 95,454 |
2017 | 71,943 |
2018 | $48,874 |
Long_Term_Borrowings_Detail
Long -Term Borrowings (Detail) (USD $) | Mar. 28, 2014 | Feb. 24, 2014 | Sep. 27, 2013 | Mar. 07, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Capital Lease Obligations, Noncurrent | $54,012 | ' | $52,385 | ' | $49,584 |
Other Long-term Debt, Noncurrent | 42,167 | ' | 35,777 | ' | 31,064 |
Debt and Capital Lease Obligations | 5,637,541 | ' | 5,824,070 | ' | 6,008,767 |
Long-term Debt, Current Maturities | -89,613 | ' | -65,841 | ' | -37,462 |
Long-term Borrowings | 5,547,928 | ' | 5,758,229 | ' | 5,971,305 |
Receivables Facility, due January 2015 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | 300,000 | ' | 300,000 | ' | 263,800 |
Senior Notes [Member] | Senior Notes 8 Point 50 Percent Due 2015 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | 0 | ' | 1,280,000 |
Senior Notes [Member] | 8.50% senior notes, due February 2015 | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | 0 | ' | 500,000 |
Senior Notes [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | 1,000,000 | ' | 1,000,000 | 1,000,000 | 0 |
Revolving Credit Facility [Member] | Senior Secured Credit Facility | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | 173,164 | ' | 10,000 | ' | 0 |
8.625% / 9.375% Senior Notes, due April 2016 | Senior Notes [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | 0 | ' | 595,486 |
Term Loan Facility due February 2021 [Member] | Senior Secured Credit Facility | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | 2,600,279 | 2,582,000 | 0 | ' | 650,913 |
Term Loan Facility due July 2016 [Member] | Senior Secured Credit Facility | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | 75,450 | ' | 3,032,349 | ' | 2,637,920 |
Term Loan Facility due September 2019 [Member] | Senior Secured Credit Facility | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Long-term Debt | $1,392,469 | $1,400,000 | $1,393,559 | $1,400,000 | $0 |
Borrowings_Detail
Borrowings (Detail) | 6 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 6 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Mar. 30, 2012 | Feb. 29, 2012 | Mar. 30, 2012 | Feb. 29, 2012 | Dec. 28, 2012 | Mar. 30, 2012 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 30, 2011 | Sep. 30, 2011 | Dec. 28, 2012 | Mar. 29, 2013 | Dec. 20, 2012 | Mar. 29, 2013 | Sep. 27, 2013 | Mar. 28, 2014 | Mar. 28, 2014 | Dec. 31, 2016 | Mar. 28, 2014 | Sep. 30, 2011 | Apr. 18, 2011 | Sep. 30, 2011 | Apr. 18, 2011 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Jan. 26, 2007 | Sep. 27, 2013 | Mar. 07, 2013 | Sep. 28, 2012 | Jan. 26, 2007 | Sep. 27, 2013 | Sep. 28, 2012 | Jan. 26, 2007 | Mar. 07, 2013 | Apr. 18, 2011 | Mar. 07, 2013 | Apr. 18, 2011 | Mar. 07, 2011 | Mar. 29, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 07, 2013 | Sep. 28, 2012 | Mar. 29, 2013 | Mar. 07, 2011 | Sep. 27, 2013 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 30, 2011 | Feb. 07, 2013 | Feb. 07, 2013 | Nov. 01, 2007 | Dec. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Jan. 26, 2007 | Jan. 31, 2008 | Jan. 26, 2007 | Sep. 27, 2013 | Apr. 18, 2011 | Apr. 17, 2011 | Mar. 22, 2013 | Mar. 28, 2014 | Feb. 24, 2014 | Sep. 27, 2013 | Feb. 24, 2014 | Mar. 22, 2013 | Mar. 22, 2013 | Sep. 27, 2013 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Dec. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 27, 2013 | Feb. 24, 2014 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Feb. 24, 2014 | Mar. 07, 2013 | Mar. 29, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 07, 2013 | Mar. 07, 2013 | Mar. 29, 2013 | Mar. 29, 2013 | Mar. 29, 2013 | Sep. 27, 2013 | Mar. 07, 2013 | Feb. 22, 2013 | Feb. 21, 2013 | Mar. 07, 2013 | Feb. 22, 2013 | Feb. 21, 2013 | Feb. 22, 2013 | Feb. 21, 2013 | Mar. 07, 2013 | Feb. 22, 2013 | Feb. 21, 2013 | Mar. 07, 2013 | Feb. 22, 2013 | Feb. 21, 2013 | Feb. 22, 2013 | Feb. 21, 2013 | Feb. 24, 2014 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2013 | Feb. 24, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Feb. 24, 2014 | Feb. 24, 2014 | Feb. 24, 2014 | Feb. 24, 2014 | Feb. 24, 2014 | Feb. 24, 2014 | Feb. 24, 2014 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Secured Credit Facility | Maximum | Minimum | Amendment Agreement No 2 [Member] | Amendment Agreement No 2 [Member] | Amendment Agreement No 2 [Member] | Amendment Agreement No 2 [Member] | Goldman Sachs capital partners and J.P. Morgan partners | Goldman Sachs capital partners and J.P. Morgan partners | Goldman Sachs capital partners and J.P. Morgan partners | Goldman Sachs capital partners and J.P. Morgan partners | Goldman Sachs capital partners and J.P. Morgan partners | Amendment Agreement | Amendment Agreement No 3 [Member] | Amendment Agreement No 3 [Member] | Amendment Agreement No 3 [Member] | Amendment Agreement No 3 [Member] | Amendment Agreement No 3 [Member] | Gs Capital Partners [Member] | J.P. Morgan Partners [Member] | Scenario, Forecast | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | Registration Default [Member] | Registration Default [Member] | Registration Default [Member] | Senior Secured Term Loan Facility Maturing On January 2014 [Member] | Senior Notes 8 Point 50 Percent Due 2015 [Member] | Senior Notes 8 Point 50 Percent Due 2015 [Member] | Senior Notes 8 Point 50 Percent Due 2015 [Member] | Senior Notes 8 Point 50 Percent Due 2015 [Member] | 8.50% senior notes, due February 2015 | 8.50% senior notes, due February 2015 | 8.50% senior notes, due February 2015 | Senior Notes 8 Point 625 Percent Due 2016 [Member] | Senior Notes 8 Point 625 Percent Due 2016 [Member] | Senior Notes 9 Point 375 Percent Due 2016 [Member] | Senior Notes 9 Point 375 Percent Due 2016 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | 5 point 75 percent Senior Notes , due 2020 [Member] | Fixed Rate And Floating Rate Notes [Member] | Fixed Rate And Floating Rate Notes [Member] | Fixed Rate And Floating Rate Notes [Member] | Fixed Rate And Floating Rate Notes [Member] | Fixed Rate And Floating Rate Notes [Member] | Yen denominated term loans [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due July 2016 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due September 2019 [Member] | Term Loan Facility due February 2021 [Member] | Term Loan Facility due February 2021 [Member] | Term Loan Facility due February 2021 [Member] | Term Loan Facility due February 2021 [Member] | Term Loan Facility due February 2021 [Member] | Term Loan Facility due February 2021 [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | Term Loan Facility 2014 Amendment [Member] | |
Senior Secured Credit Facility | Senior Secured Credit Facility | USD ($) | USD ($) | Term loan | Term loan | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Term loan | Term loan | Term loan | USD ($) | USD ($) | Senior Secured Credit Facility | USD ($) | USD ($) | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | GS Capital Partners and J.P. Morgan Partners [Member] | For each subsequent 90-day period during which the registration default continues | For each subsequent 90-day period during which the registration default continues | Senior Secured Credit Facility | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | ARAMARK Holdings Corporation | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | GS Capital Partners and J.P. Morgan Partners [Member] | Changes In Control [Member] | Changes In Control [Member] | USD ($) | USD ($) | USD ($) | Redemption of such notes on April 6, 2013 | Redemption of the Holdings Notes on May 1, 2013 | Term loan | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Letter of Credit [Member] | Letter of Credit [Member] | Federal Funds [Member] | Amendment Agreement | Amendment Agreement | 2014 Amendment Agreement [Member] | 2014 Amendment Agreement [Member] | 2014 Amendment Agreement [Member] | 2014 Amendment Agreement [Member] | 2014 Amendment Agreement [Member] | 2014 Amendment Agreement [Member] | 2014 Amendment Agreement [Member] | Amendment Agreement No 4 [Member] | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | Canadian Dollar Denominated Term Loans | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | U S Dollar Denominated Term Loans | Yen denominated term loans [Member] | U.S. dollar denominated term loans, Canadian subsidiary | U.S. dollar denominated term loans, Canadian subsidiary | Euro denominated term loans, Irish subsidiary | Sterling denominated term loans. U.K. subsidiary | Euro Denominated Term Loans German Subsidiary [Member] | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Eurocurrency rate margin [Member] | Base-rate borrowings [Member] | GS Capital Partners and J.P. Morgan Partners [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | U S Dollar Denominated Term Loans | Sterling denominated term loans | Sterling denominated term loans | Canadian Dollar Denominated Term Loans | Canadian Dollar Denominated Term Loans | Canadian Dollar Denominated Term Loans | Euro Denominated Term Loans | Euro Denominated Term Loans | Euro Denominated Term Loans | Extended Maturity Letter of Credit Deposits | Extended Maturity Letter of Credit Deposits | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | U S Dollar Denominated Term Loans | Canadian denominated term loan [Member] | USD ($) | Senior Secured Credit Facility | Senior Secured Credit Facility | Eurocurrency rate margin [Member] | Base-rate borrowings [Member] | Euro denominated term loans | Sterling denominated term loans | Yen denominated term loans [Member] | Yen and Euro denominated term loans [Member] | ||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Notes [Member] | Maximum | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | JPY (¥) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Maximum | Maximum | USD ($) | USD ($) | USD ($) | USD ($) | Maximum | Eurocurrency rate margin [Member] | Base-rate borrowings [Member] | USD ($) | USD ($) | Senior Secured Credit Facility | Final maturity of January 26, 2017 | Final maturity of January 26, 2015 | Senior Secured Credit Facility | USD ($) | USD ($) | USD ($) | USD ($) | Term loan | Term loan | Senior Secured Credit Facility | Term loan | Term loan | Term loan | Term loan | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | GS Capital Partners and J.P. Morgan Partners [Member] | Term loan | Eurocurrency rate margin [Member] | Base-rate borrowings [Member] | Base-rate borrowings [Member] | Base-rate borrowings [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency rate margin [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency rate margin [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | Eurocurrency Rate Margin and Letter of Credit Fee [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Senior Secured Credit Facility | Senior Secured Credit Facility | USD ($) | USD ($) | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | |||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Secured Credit Facility | Senior Secured Credit Facility | USD ($) | USD ($) | JPY (¥) | CAD | USD ($) | EUR (€) | GBP (£) | EUR (€) | USD ($) | USD ($) | Senior Secured Credit Facility | USD ($) | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | Senior Secured Credit Facility | USD ($) | CAD | EUR (€) | GBP (£) | JPY (¥) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $600,000,000 | ' | ' | ' | ' | $4,150,000,000 | ' | ' | ' | $1,280,000,000 | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000,000 | 200,000,000 | 250,000,000 | ' | ' | ' | 605,000,000 | ' | ' | ' | 770,000,000 | ' | ' | 510,000,000 | ' | 555,000,000 | 515,000,000 | 40,000,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity, Incremental Commitments | ' | ' | 630,000,000 | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | 3.25% | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 0.25% | 2.50% | 2.00% | 0.25% | 3.50% | 0.13% | 3.50% | 3.00% | 0.25% | 3.50% | 3.00% | 0.25% | 3.50% | 0.25% | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 1.50% | ' | 3.25% | ' | 2.75% |
Debt instrument, Outstanding Term Loans, Percentage of Excess Cash Flow | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Consolidated Capital Ratio Minimum | ' | ' | ' | ' | ' | 5.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Consolidated Capital Ratio Percentage | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Consolidated Capital Ratio | ' | ' | ' | ' | ' | ' | 5.25 | 4.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Consolidated Capital Ratio, Actual | ' | ' | ' | ' | ' | 4.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Prepay Term Loan Requirements | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Consolidated Secured Debt Ratio | ' | ' | ' | ' | ' | 5.75 | ' | 5.875 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduces Total Secured Debt | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Secured Debt Ratio, Actual | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Interest Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Actual Interest Coverage Ratio | ' | ' | ' | ' | ' | 3.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 1,280,000,000 | ' | 0 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 5,422,000,000 | ' | 173,164,000 | 10,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 605,000,000 | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | 75,450,000 | 3,032,349,000 | 2,637,920,000 | 2,670,500,000 | 5,056,000,000 | 75,000,000 | 75,500,000 | 30,400,000 | 82,300,000 | 46,100,000 | 1,400,000,000 | 1,400,000,000 | ' | 1,392,469,000 | 1,393,559,000 | 0 | ' | ' | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,582,000,000 | 2,600,279,000 | 0 | 650,913,000 | ' | 34,000,000 | ' | ' | 3,982,000,000 | ' | ' | 140,000,000 | 115,000,000 | 5,042,000,000 | ' |
Percentage, Total Funded Principal Amount | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 265,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, minimum interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 1.75% | ' | ' | ' | ' |
Payments of Financing Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000 | ' | ' | ' | ' | ' | ' | 7,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,800,000 | ' | ' | ' | ' | ' | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct Amendment Costs, Related-party PY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowed funds extended by subfacility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 670,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 650,000,000 | 650,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 154,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 370,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Financing Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,600,000 | 11,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,100,000 | 22,900,000 | ' | ' | ' | ' | ' | ' | ' |
Direct Amendment Costs, Related-party | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | 4,600,000 | 4,500,000 | 4,600,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | 5,100,000 | ' | ' | ' | ' | ' | ' | 8,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Amount Extended | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,231,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 565,000,000 | ' | ' | ' | ' | 550,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Amendment Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | 435,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Finance Costs, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit, Increase in Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,000,000 | ' | 165,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount available for borrowing on credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 579,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.50% | ' | ' | ' | ' | ' | 8.63% | 8.63% | 9.38% | 9.38% | ' | ' | ' | ' | 5.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings from revolving credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends paid | 17,306,000 | 0 | 0 | 0 | 711,172,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 711,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends paid, per share | ' | ' | ' | ' | $3.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of principal that may be redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Purchase Price, Percentage of Principal Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.75% | ' | ' | ' | ' | ' | ' | 100.00% | 101.00% | ' | ' | ' | 100.00% | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual interest rate increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.25% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Tender Offer and Call Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39,800,000 | 39,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Tender Offer Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,900,000 | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of Deferred Debt Issuance Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26,900,000 | $26,900,000 | $2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12,600,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings_Maturities_Detail
Borrowings Maturities (Detail) (USD $) | Sep. 27, 2013 |
BORROWINGS [Abstract] | ' |
2014 | $65,841,000 |
2015 | 349,487,000 |
2016 | 3,025,340,000 |
2017 | 30,241,000 |
2018 | 19,788,000 |
Thereafter | 2,341,138,000 |
Senior Secured Credit Facility | Senior Secured Term Loan Facility [Member] | ' |
BORROWINGS [Abstract] | ' |
Discount on senior secured term loan facilities | 7,800,000 |
Term loan | ' |
BORROWINGS [Abstract] | ' |
2016 | $2,600,000,000 |
Borrowings_Components_of_Inter
Borrowings Components of Interest and Other Financing Costs, Net (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Borrowings [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | $425,625 | $459,083 | $466,140 |
Interest income | ' | ' | ' | ' | -6,430 | -5,477 | -18,653 |
Other financing costs | ' | ' | ' | ' | 4,650 | 3,201 | 3,633 |
Total | $102,074 | $147,124 | $185,427 | $260,475 | $423,845 | $456,807 | $451,120 |
Derivative_Instruments_Detail
Derivative Instruments (Detail) | 3 Months Ended | 0 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||
Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Nov. 01, 2007 | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Mar. 28, 2014 | |
USD ($) | USD ($) | USD ($) | Yen denominated term loans [Member] | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | Not designated as hedging instrument | |
Term loan | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cash flow hedging | Cross Currency Swap Agreements | Cross Currency Swap Agreements | Cross Currency Swap Agreements | Cross Currency Swap Agreements | Cross Currency Swap Agreements | Gasoline and Diesel Fuel Agreements | Gasoline and Diesel Fuel Agreements | Gasoline and Diesel Fuel Agreements | Foreign exchange forward | Foreign exchange forward | Foreign exchange forward | Foreign exchange forward | Foreign exchange forward | Foreign exchange forward | Foreign exchange forward | Cash flow hedging | ||||
JPY (¥) | USD ($) | USD ($) | Interest rate swap agreements | Interest rate swap agreements | Interest rate swap agreements | Interest rate swap agreements | Interest rate swap agreements | Cross currency swap agreements | Cross currency swap agreements | Cross currency swap agreements | Cross currency swap agreements | Cross Currency Swap Agreements | Cross Currency Swap Agreements | Cross Currency Swap Agreements | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Swap | Swap | Swap | Forward Contracts | Forward Contracts | Forward Contracts | Forward Contracts | Forward Contracts | Forward Contracts | Forward Contracts | Interest rate swap agreements | ||||
Swap | Swap | Swap | Swap | Swap | Swap | Swap | Swap | Swap | Swap | Swap | Swap | USD ($) | USD ($) | gal | CAD | EUR (€) | GBP (£) | CAD | EUR (€) | GBP (£) | SEK | Swap | ||||||||||||
USD ($) | USD ($) | USD ($) | Subsequent Event | Subsequent Event | USD ($) | USD ($) | USD ($) | USD ($) | Interest and other financing costs, net | Interest and other financing costs, net | Interest and other financing costs, net | gal | USD ($) | |||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivative | ' | ' | ' | ' | ' | ' | $2,400,000,000 | $1,300,000,000 | $1,000,000,000 | $500,000,000 | $600,000,000 | $75,400,000 | ' | $160,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,800,000 | € 28,700,000 | £ 8,200,000 | 16,000,000 | € 95,900,000 | £ 45,800,000 | 26,600,000 | ' |
Accumulated other comprehensive income (loss), changes from cash flow hedges net of tax | -22,300,000 | -23,994,000 | -33,106,000 | ' | ' | ' | -16,600,000 | -20,500,000 | -28,100,000 | ' | ' | -5,700,000 | ' | -3,500,000 | -5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 | 1,500,000 | 1,000,000 | -8,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount reclassified to foreign currency denominated hedge | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,300,000 | -4,100,000 | -4,000,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on cash flow hedge ineffectiveness | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000 | 3,200,000 | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on derivative instruments, pretax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | 1,500,000 | 5,800,000 | 2,200,000 | 3,000,000 | -700,000 | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonmonetary notional amount of derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | ' | 5,422,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedge to be reclassifed within twelve months | ' | ' | ' | ' | 17,200,000 | 17,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments loss Recognized in Other comprehensive income Dedesignation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,800,000 |
Notional value matured | $82,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Value during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_Derivat
Derivative Instruments - Derivatives by Income Statement Location and Comprehensive Income (Detail) (Cash flow hedging, USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified from AOCI | ' | ' | ' | ' | $30,454 | $74,492 | $128,982 |
Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss recognized in comprehensive income | -2,677 | 2,466 | 1,659 | 8,943 | 9,112 | 33,840 | 54,873 |
(Gain) loss reclassified from AOCI | 4,780 | 6,677 | 11,359 | 14,216 | 27,569 | 74,733 | 130,568 |
Not designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified recognized in income | -2,097 | -8,648 | -962 | -5,152 | 2,885 | -241 | -1,586 |
Interest rate swap agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss recognized in comprehensive income | -1,857 | 3,166 | 3,926 | 6,298 | 7,598 | 28,147 | 58,082 |
Cross Currency Swap Agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss recognized in comprehensive income | -820 | -700 | -2,267 | 2,645 | 1,514 | 5,580 | -1,956 |
Natural Gas Hedge Agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss recognized in comprehensive income | ' | ' | ' | ' | ' | 113 | -21 |
Gasoline and Diesel Fuel Agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss recognized in comprehensive income | ' | ' | ' | ' | ' | ' | -1,232 |
Interest Expense | Interest rate swap agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified from AOCI | 6,989 | 5,668 | 16,183 | 11,210 | 23,479 | 66,260 | 123,739 |
Interest Expense | Cross Currency Swap Agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified from AOCI | -2,209 | 1,009 | -4,824 | 3,006 | 4,090 | 8,077 | 8,960 |
Interest Expense | Cross Currency Swap Agreements | Not designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified recognized in income | -3,465 | -1,513 | -5,111 | 1,021 | 181 | 0 | 0 |
Interest Expense | Foreign exchange forward | Not designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified recognized in income | 1,148 | -6,882 | 4,285 | -6,042 | 2,697 | -265 | -1,586 |
Cost of Services Provided | Natural Gas Hedge Agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified from AOCI | ' | ' | ' | ' | 0 | 396 | 158 |
Cost of Services Provided | Gasoline and Diesel Fuel Agreements | Designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified from AOCI | ' | ' | ' | ' | 0 | 0 | -2,289 |
Cost of Services Provided | Gasoline and Diesel Fuel Agreements | Not designated as hedging instrument | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
(Gain) loss reclassified recognized in income | $220 | ($253) | ($136) | ($131) | $7 | $24 | $0 |
Derivative_Instruments_Derivat1
Derivative Instruments - Derivatives by Balance Sheet Location (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | |||
Derivative instruments | ' | ' | ' |
Fair value of derivative assets | $118 | $37 | $947 |
Fair value of derivative liabilities | 36,751 | 63,238 | 91,890 |
Not designated as hedging instrument | Prepayments | Foreign exchange forward | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative assets | ' | 0 | 251 |
Not designated as hedging instrument | Prepayments | Gasoline and Diesel Fuel Agreements | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative assets | 118 | 37 | 696 |
Not designated as hedging instrument | Accrued Expenses [Member] | Cross Currency Swap Agreements | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative liabilities | 0 | 12,818 | 0 |
Not designated as hedging instrument | Accounts Payable [Member] | Foreign exchange forward | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative liabilities | 346 | 366 | 0 |
Designated as hedging instrument | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative liabilities | 36,405 | 50,054 | 91,890 |
Designated as hedging instrument | Accrued Expenses [Member] | Interest rate swap agreements | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative liabilities | 0 | 3,494 | 0 |
Designated as hedging instrument | Other Noncurrent Liabilities | Interest rate swap agreements | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative liabilities | 27,139 | 30,431 | 46,484 |
Designated as hedging instrument | Other Noncurrent Liabilities | Cross Currency Swap Agreements | ' | ' | ' |
Derivative instruments | ' | ' | ' |
Fair value of derivative liabilities | $9,266 | $16,129 | $45,406 |
Recovered_Sheet9
Employee Pension and Profit Sharing Plans - Narrative (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined contribution cost recognized | $32.40 | $29.50 | $31.50 |
Accumulated benefit obligation | 273.8 | 279.4 | ' |
Actuarial gains (losses) in other comprehensive income (loss) before taxes | 24.2 | -22.8 | ' |
Amortization of actuarial losses recognized as net periodic pension cost | -3.4 | -0.6 | ' |
Net actuarial loss included in accumulated other comprehensive income (loss) to be recognized in next fiscal year | -1 | -3.6 | ' |
Settlement gains in other comprehensive income (loss) before taxes | ' | 0.3 | ' |
Charge recorded as a result of withdrawing from the original pool | 2.4 | ' | ' |
International Plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined contribution cost recognized | $8.50 | $5 | $5.70 |
Recovered_Sheet10
Employee Pension and Profit Sharing Plans - Net Periodic Cost (Detail) (Pension Plans, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Pension Plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $11,045 | $9,961 | $10,310 |
Interest cost | 12,693 | 13,001 | 13,086 |
Expected return on plan assets | -14,256 | -12,521 | -12,738 |
Settlements | 308 | 467 | 704 |
Amortization of prior service cost | 119 | 6 | 6 |
Recognized net (gain) loss | 3,436 | 2,392 | 1,608 |
Net periodic pension cost | $13,345 | $13,306 | $12,976 |
Employee_Pension_and_Profit_Sh2
Employee Pension and Profit Sharing Plans - Change in Benefit Obligation and Fair Value (Detail) (Pension Plans, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Pension Plans | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Benefit obligation, beginning | $306,810 | $244,754 | ' |
Foreign currency translation | -7,641 | 14,056 | ' |
Service cost | 11,045 | 9,961 | 10,310 |
Interest cost | 12,693 | 13,001 | 13,086 |
Employee contributions | 2,954 | 3,565 | ' |
Actuarial loss (gain) | -12,958 | 34,227 | ' |
Benefits paid | -15,172 | -11,699 | ' |
Settlements and curtailments | -1,342 | -1,055 | ' |
Benefit obligation, end | 296,389 | 306,810 | 244,754 |
Change in plan assets: | ' | ' | ' |
Fair value of plan assets, beginning | 222,272 | 178,587 | ' |
Foreign currency translation | -5,359 | 9,866 | ' |
Employer contributions | 19,731 | 20,558 | ' |
Employee contributions | 2,954 | 3,565 | ' |
Actual return on plan assets | 25,890 | 22,601 | ' |
Benefits paid | -15,172 | -11,699 | ' |
Settlements | -1,637 | -1,206 | ' |
Fair value of plan assets, end | 248,679 | 222,272 | 178,587 |
Funded Status at end of year | ($47,710) | ($84,538) | ' |
Employee_Pension_and_Profit_Sh3
Employee Pension and Profit Sharing Plans - Financial Statement Location (Detail) (Pension Plans, USD $) | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | ||
Pension Plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Current benefit liability (included in Accrued expenses and other current liabilities) | ($924) | ($484) |
Noncurrent benefit liability (included in Other Noncurrent Liabilities) | -46,786 | -84,054 |
Net actuarial loss (gain) (included in Accumulated other comprehensive (income) loss before taxes) | 47,456 | 77,391 |
Prior service cost (included in Accumulated other comprehensive (income) loss before taxes) | $44 | $52 |
Employee_Pension_and_Profit_Sh4
Employee Pension and Profit Sharing Plans - Assumptions (Detail) | 12 Months Ended | |
Sep. 27, 2013 | Sep. 28, 2012 | |
Assumptions Used to Calculate Pension Expense [Abstract] | ' | ' |
Discount rate | 4.20% | 5.00% |
Rate of compensation increase | 3.40% | 3.50% |
Long-term rate of return on assets | 6.70% | 6.60% |
Assumptions Used to Calculate Funded Status [Abstract] | ' | ' |
Discount rate | 4.60% | 4.20% |
Rate of compensation increase | 3.30% | 3.40% |
Employee_Pension_and_Profit_Sh5
Employee Pension and Profit Sharing Plans - Accumulated Benefit Obligation In Excess of Plan Assets (Detail) (Pension Plans, USD $) | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | ||
Pension Plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | $166,798 | $302,072 |
Accumulated benefit obligation | 160,798 | 274,701 |
Fair value of plan assets | $131,392 | $217,044 |
Employee_Pension_and_Profit_Sh6
Employee Pension and Profit Sharing Plans - Asset Allocation (Detail) (USD $) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 |
Equity Securities | Debt Securities | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | Pension Plans | |
Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Cash and Cash Equivalents and Other | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Equity | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Pooled Funds-Fixed Income | Equity Funds Domestic | Equity Funds International | Fixed Income Funds Domestic | Fixed Income Funds International | ||||||
Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Level 1 | Level 1 | Level 2 | Level 2 | Level 3 | Level 3 | ||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Target Plan Asset Allocations Range Minimum | 50.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Target Plan Asset Allocations Range Maximum | 70.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets | ' | ' | $248,679 | $222,272 | $178,587 | $248,679 | $222,272 | $2,394 | $2,042 | $246,285 | $220,230 | $0 | $0 | $2,394 | $2,042 | $2,394 | $2,042 | $0 | $0 | $0 | $0 | $157,372 | $141,784 | $0 | $0 | $157,372 | $141,784 | $0 | $0 | $88,913 | $78,446 | $0 | $0 | $88,913 | $78,446 | $0 | $0 | ' | ' | ' | ' |
Actual plan asset allocations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.00% | 67.00% | 10.00% | 90.00% |
Employee_Pension_and_Profit_Sh7
Employee Pension and Profit Sharing Plans - Future Payments (Detail) (USD $) | 12 Months Ended |
Sep. 27, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' |
Fiscal 2014 | $12,218,000 |
Fiscal 2015 | 11,423,000 |
Fiscal 2016 | 11,899,000 |
Fiscal 2017 | 12,488,000 |
Fiscal 2018 | 13,010,000 |
Fiscal 2019 - 2023 | 69,358,000 |
During fiscal 2014 | $25,800,000 |
Employee_Pension_and_Profit_Sh8
Employee Pension and Profit Sharing Plans - Multiemployer (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Multi employer Plan, Period Contributions | $24,263 | $22,301 | $21,869 | |||
National Retirement Fund | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '136130178 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | |||
FIP/RP Status Pending/ Implemented | 'Implemented | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 6,011 | 4,868 | 5,367 | |||
Service Employees Pension Fund of Upstate New York | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '160908576 | [1] | ' | ' | ||
Pension Plan No. | '001 | [1] | ' | ' | ||
Pension Protection Act Zone Status | 'Red | [1] | 'Red | [1] | ' | |
FIP/RP Status Pending/ Implemented | 'Implemented | [1] | ' | ' | ||
Surcharge Imposed | 'No | [1] | ' | ' | ||
Multi employer Plan, Period Contributions | 360 | [1] | 247 | [1] | 385 | [1] |
Percentage of Participants Covered by CBA | 60.00% | ' | ' | |||
Local 1102 Retirement Trust | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '131847329 | [2] | ' | ' | ||
Pension Plan No. | '001 | [2] | ' | ' | ||
Pension Protection Act Zone Status | 'Red | [2] | 'Red | [2] | ' | |
FIP/RP Status Pending/ Implemented | 'Implemented | [2] | ' | ' | ||
Surcharge Imposed | 'No | [2] | ' | ' | ||
Multi employer Plan, Period Contributions | 275 | [2] | 201 | [2] | 232 | [2] |
Percentage of Participants Covered by CBA | 90.00% | ' | ' | |||
Central States SE and SW Areas Pension Plan | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '366044243 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | |||
FIP/RP Status Pending/ Implemented | 'Implemented | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 3,415 | 3,164 | 2,869 | |||
Pension Plan for Hospital & Health Care Employees Philadelphia & Vicinity | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '232627428 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | |||
FIP/RP Status Pending/ Implemented | 'Implemented | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 161 | 154 | 122 | |||
Richmond Teamsters and Industry Pension Fund | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '546056180 | [3] | ' | ' | ||
Pension Plan No. | '001 | [3] | ' | ' | ||
Pension Protection Act Zone Status | 'NA | [3] | 'Green | [3] | ' | |
FIP/RP Status Pending/ Implemented | 'NA | [3] | ' | ' | ||
Surcharge Imposed | 'No | [3] | ' | ' | ||
Multi employer Plan, Period Contributions | 154 | [3] | 121 | [3] | 109 | [3] |
Percentage of Participants Covered by CBA | 75.00% | ' | ' | |||
Retail, Wholesale and Department Store International Union and Industry Pension Fund | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '630708442 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Green | 'Green | ' | |||
FIP/RP Status Pending/ Implemented | 'NA | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 306 | 292 | 292 | |||
Local 731 IBT Textile Maintenance and Laundry Craft Pension Fund | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '516051697 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | |||
FIP/RP Status Pending/ Implemented | 'Implemented | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 453 | 384 | 350 | |||
SEIU National Industry Pension Fund | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '526148540 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | |||
FIP/RP Status Pending/ Implemented | 'Implemented | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 173 | 280 | 229 | |||
Automotive Industries Pension Plan | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '941133245 | ' | ' | |||
Pension Plan No. | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | |||
FIP/RP Status Pending/ Implemented | 'Implemented | ' | ' | |||
Surcharge Imposed | 'No | ' | ' | |||
Multi employer Plan, Period Contributions | 28 | 27 | 27 | |||
Laundry Dry Cleaning Workers & Allied Industries Retirement Fund Workers United | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
EIN | '135521921 | [4] | ' | ' | ||
Pension Plan No. | '001 | [4] | ' | ' | ||
Pension Protection Act Zone Status | 'Green | [4] | 'Green | [4] | ' | |
FIP/RP Status Pending/ Implemented | 'NA | [4] | ' | ' | ||
Surcharge Imposed | 'No | [4] | ' | ' | ||
Multi employer Plan, Period Contributions | 221 | [4] | 169 | [4] | 116 | [4] |
Other funds | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Multi employer Plan, Period Contributions | $12,706 | $12,394 | $11,771 | |||
[1] | Over 60% of the Company's participants in this fund are covered by a single CBA that expires on 6/30/2015. | |||||
[2] | Over 90% of the Company's participants in this fund are covered by a single CBA that expires on 6/30/2015. | |||||
[3] | During fiscal 2013, the Company negotiated with a union to discontinue its participation in this fund. | |||||
[4] | Over 75% of the Company's participants in this fund are covered by a single CBA that expires on 1/26/2016. |
Income_Taxes_Detail
Income Taxes (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' |
United States | ' | ' | ' | ' | $18,557 | $34,498 | ($16,162) |
Non-U.S. | ' | ' | ' | ' | 72,072 | 90,470 | 112,131 |
Income (Loss) Before Income Taxes | 18,733 | -66,909 | 92,602 | -4,941 | 90,629 | 124,968 | 95,969 |
Current: | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | 2,740 | 45,173 | -1,493 |
State and local | ' | ' | ' | ' | 126 | 7,205 | 8,494 |
Non-U.S. | ' | ' | ' | ' | 34,158 | 32,301 | 34,356 |
Current | ' | ' | ' | ' | 37,024 | 84,679 | 41,357 |
Deferred: | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | -1,007 | -42,515 | -22,885 |
State and local | ' | ' | ' | ' | -656 | -11,189 | -8,946 |
Non-U.S. | ' | ' | ' | ' | -16,128 | -12,909 | -10,260 |
Deferred | ' | ' | ' | ' | -17,791 | -66,613 | -42,091 |
Income tax provision (benefit) | $5,616 | ($27,005) | $34,569 | ($8,229) | $19,233 | $18,066 | ($734) |
United States statutory income tax rate | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% |
Increase (decrease) resulting from: | ' | ' | ' | ' | ' | ' | ' |
State income taxes, net of Federal tax benefit | ' | ' | ' | ' | 1.00% | 0.50% | 2.10% |
Foreign taxes | ' | ' | ' | ' | -2.20% | -9.80% | -10.70% |
Permanent book/tax differences | ' | ' | ' | ' | 1.80% | -0.60% | 1.20% |
Uncertain tax positions | ' | ' | ' | ' | -1.60% | -1.80% | -17.70% |
Tax credits & other | ' | ' | ' | ' | -12.80% | -8.80% | -10.70% |
Effective income tax rate | ' | ' | ' | ' | 21.20% | 14.50% | -0.80% |
Income_Taxes_Narrative_Detail
Income Taxes Narrative (Detail) (USD $) | 12 Months Ended | ||
Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
State | |||
Open Tax Years Jurisdictions [Line Items] | ' | ' | ' |
Current taxes receivable | $44,600,000 | $3,100,000 | ' |
Reduction of uncertain tax position | ' | ' | 17,000,000 |
Operating loss carryforwards | 21,000,000 | ' | ' |
Valuation allowance | 10,300,000 | ' | ' |
Unrecognized tax benefits resulting in net operating loss carryforward | 5,700,000 | ' | ' |
Foreign tax credit carryforwards | 16,200,000 | ' | ' |
Current deferred tax assets | 42,700,000 | 77,900,000 | ' |
Deferred tax liabilities | 589,900,000 | 632,300,000 | ' |
Gross unrecognized tax benefits | 27,337,000 | 31,977,000 | 34,040,000 |
Accrued for interest and penalties | 7,000,000 | 8,400,000 | ' |
Interest and penalties | ($300,000) | ($1,000,000) | ' |
Number of Significant States and Foreign Taxing Jurisdictions in which Entity Operates | 20 | ' | ' |
Minimum | ' | ' | ' |
Open Tax Years Jurisdictions [Line Items] | ' | ' | ' |
Open Tax Years | '1 year | ' | ' |
Maximum | ' | ' | ' |
Open Tax Years Jurisdictions [Line Items] | ' | ' | ' |
Open Tax Years | '10 years | ' | ' |
Income_Taxes_Deferred_tax_liab
Income Taxes Deferred tax liabilities and assets (Detail) (USD $) | Sep. 27, 2013 | Sep. 28, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Property and equipment | $71,425 | $82,627 |
Investments | 43,527 | 95,445 |
Other intangible assets, including goodwill | 700,526 | 717,583 |
Inventory and other | 70,037 | 13,095 |
Gross deferred tax liability | 885,515 | 908,750 |
Insurance | 36,458 | 41,443 |
Employee compensation and benefits | 218,491 | 214,847 |
Accruals and allowances | 37,876 | 43,781 |
Derivatives | 18,449 | 31,879 |
Net operating loss/credit carryforwards and other | 37,264 | 37,509 |
Gross deferred tax asset, before valuation allowances | 348,538 | 369,459 |
Valuation allowances | -10,263 | -15,187 |
Net deferred tax liability | $547,240 | $554,478 |
Income_Taxes_Unrecognized_tax_
Income Taxes Unrecognized tax benefits (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' |
Gross unrecognized tax benefits | $31,977 | $34,040 |
Additions based on tax positions taken in the current year | 2,342 | 2,304 |
Reductions for tax positions taken in prior years | -1,123 | ' |
Additions for tax positions taken in prior years | ' | -254 |
Reductions for remeasurements, settlements and payments | -3,919 | -3,306 |
Reductions due to statute expiration | -1,940 | -807 |
Gross unrecognized tax benefits | $27,337 | $31,977 |
Capital_Stock_Detail
Capital Stock (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Dec. 12, 2013 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 28, 2014 | |
IPO [Member] | IPO [Member] | IPO [Member] | IPO [Member] | Common Stock | Common Stock | Common Stock | ||||||
Corporate | Gs Capital Partners [Member] | J.P. Morgan Partners [Member] | ||||||||||
Capital Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Subject to Repurchase | $10,177,000 | ' | $168,915,000 | $177,926,000 | ' | ' | ' | ' | ' | $158,700,000 | $167,500,000 | $0 |
Common stock subject to repurchase outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,400,000 | 11,000,000 | ' |
Common stock subject to repurchase redemption value per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16.88 | $15.17 | ' |
Stock repurchased during period, Value | -32,427,000 | -46,407,000 | -66,646,000 | -67,273,000 | -40,756,000 | ' | ' | ' | ' | -66,600,000 | -67,300,000 | ' |
Common Stock, Shares Issued | 250,120,845 | ' | 219,585,247 | 216,050,523 | ' | 28,000,000 | ' | ' | ' | ' | ' | ' |
Share Price | ' | ' | ' | ' | ' | $20 | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance Initial Public Offering | 524,081,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Spread Fee for Related Parties | ' | ' | ' | ' | ' | ' | ' | 6,500,000 | 6,500,000 | ' | ' | ' |
IPO Related Expenses | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' |
Payments of Dividends | $17,306,000 | $0 | $0 | $0 | $711,172,000 | ' | ' | ' | ' | ' | ' | ' |
Dividends Payable, Amount Per Share | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_Compensation_Detail
Share-Based Compensation (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Dec. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Nov. 11, 2013 | Jun. 21, 2011 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Mar. 28, 2014 | Dec. 27, 2013 | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 28, 2014 | Dec. 27, 2013 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Time-Based Options | Time-Based Options | Time-Based Options | Performance-based options | Performance-based options | Performance-based options | Performance-based options | Performance-based options | Performance Shares Under Modification | Performance Shares Under Modification | Performance Shares Under Modification | Performance Shares Under Modification | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Seamless Unit Options | Seamless Unit Options | Seamless Unit Options | Deferred Stock Units | Deferred Stock Units | Deferred Stock Units | Deferred Stock Units | Deferred Stock Units | Deferred Stock Units | Deferred Stock Units | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Time-Based Options | Time-Based Options | Time-Based Options | Time-Based Options | Time-Based Options | Performance-Based Options [Member] | Performance-Based Options [Member] | Performance-Based Options [Member] | Performance-Based Options [Member] | Restricted Stock Awards | Nonqualified Stock Options | Selling and General Corporate Expenses | Selling and General Corporate Expenses | Selling and General Corporate Expenses | ||||||||
Installment | Vesting Period, First Installment | Vesting Period, First Installment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 25,500,000 | ' | 25,500,000 | ' | 42,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares available for grant | ' | ' | ' | ' | 11,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit on share-based compensation Expense | $10.80 | $1.90 | $28.50 | $3.50 | $7.60 | $6.10 | $6.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation expense, before taxes | 27.6 | 4.8 | 73 | 8.8 | ' | ' | ' | 9.3 | 8.5 | 10.3 | ' | 1.8 | 6.4 | 3.6 | 5.1 | ' | ' | 14 | 50.9 | 0.5 | 0.2 | 1.2 | 0.6 | 1.6 | 1 | 0.8 | ' | ' | 0.2 | 2.1 | 0.1 | 1.4 | 0.4 | 1.5 | 0.6 | 0.6 | 0.5 | 1 | 4 | ' | 6.3 | 1.3 | 3.6 | ' | 2.1 | 6.8 | 4 | 16.3 | 2.1 | 55.4 | 3.4 | ' | ' | 19.4 | 15.7 | 17.3 |
Proceeds from stock options exercised | ' | ' | ' | ' | 5.6 | 6.7 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefit from share-based compensation | ' | ' | ' | ' | 4.8 | 4.5 | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted weighted-Average grant date fair value | ' | ' | ' | ' | ' | ' | ' | $5.41 | $4.57 | $4.42 | $23.92 | ' | $4.54 | $3.91 | $4.21 | $10.19 | $4.66 | ' | ' | ' | ' | ' | ' | $2.88 | $2.80 | $2.47 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20.45 | ' | ' | ' | $6.65 | ' | ' | ' | ' | ' | ' | ' | $16.21 | $4.79 | ' | ' | ' |
Options forfeiture rate | ' | ' | ' | ' | ' | ' | ' | 8.70% | ' | ' | ' | ' | 8.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense | ' | ' | ' | ' | ' | ' | ' | 29 | ' | ' | ' | ' | 2.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition | ' | ' | ' | ' | ' | ' | ' | '3 years 1 month 28 days | ' | ' | ' | ' | '6 months 15 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 10 months 10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 9 months 11 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercised total intrinsic value | ' | ' | ' | ' | ' | ' | ' | 17.2 | 15 | 8.9 | ' | ' | 8.5 | 7.5 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options vested fair value | ' | ' | ' | ' | ' | ' | ' | $3.90 | $7.90 | $15.80 | ' | ' | $0.20 | $6.70 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | $0.40 | $0.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option Awards Modified in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period in fiscal year EBIT targets set | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of vesting installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Percentage To Be Exercised To Not Cancel Award | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period Awards Are Exercisable After Vesting | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '31 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Granted after Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 1,100,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | $16.11 | ' | ' | ' | ' | $15.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16.21 | ' | ' | ' |
Granted (shares) | ' | ' | ' | ' | ' | ' | ' | 4,850,000 | ' | ' | 466,763 | ' | 463,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' | ' | 3,500,000 | ' | ' | ' | 60,088 | 42,462 | 42,462 | ' | ' | ' | 2,048,785 | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSUs Granted (shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,273,275 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSUs granted weighted-Average grant date fair value (per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16.22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent to vest, Performance based Options, First target | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
First Performance Target for PBO for IPO Modification | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Second Performance target for PBO for IPO Modification | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent to vest, Performance based options, second target | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_Compensation_Assump
Share-Based Compensation - Assumptions (Detail) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||||||||
Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Nov. 11, 2013 | Jun. 21, 2011 | Jul. 31, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Nov. 11, 2013 | Jun. 21, 2011 | Jul. 31, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Nov. 11, 2013 | Jun. 21, 2011 | Jul. 31, 2013 | |
Time-Based Options | Time-Based Options | Time-Based Options | Performance-based options | Performance-based options | Performance-based options | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Installment Stock Purchase Opportunities (ISPOs) [Member] | Performance Shares Under Modification | Performance Shares Under Modification | Nonqualified Stock Options | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | |
Performance-based options | Performance-based options | Performance-based options | Performance Shares Under Modification | Performance Shares Under Modification | Nonqualified Stock Options | Performance-based options | Performance-based options | Performance-based options | Performance Shares Under Modification | Performance Shares Under Modification | Nonqualified Stock Options | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volatility | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.50% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life (in years) | '6 years 3 months | '6 years 3 months | '6 years 3 months | ' | ' | ' | '2 years 6 months | '2 years 6 months | '2 years 6 months | ' | ' | ' | '4 years 6 months | '5 years | '5 years 6 months | '3 years 0 months | '3 years 6 months | '4 years 7 months 6 days | '5 years 6 months | '6 years | '7 years | '8 years 0 months | '6 years 9 months 18 days | '6 years 2 months 12 days |
Risk-free interest rate, minimum | 1.02% | 1.04% | 1.41% | 0.61% | 0.73% | 1.43% | ' | 0.24% | 0.33% | 0.66% | 0.69% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate, maximum | 2.36% | 1.61% | 2.86% | 0.85% | 1.04% | 2.86% | ' | 0.31% | 0.68% | 2.63% | 2.27% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | 1.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_Compensation_Option
Share-Based Compensation (Options Activity) (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 27, 2013 | Sep. 27, 2013 |
Time-Based Options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Outstanding at September 28, 2012 (shares) | ' | 15,711,000 |
Granted (shares) | ' | 4,850,000 |
Exercised (shares) | ' | -2,070,000 |
Forfeited and expired (shares) | ' | -693,000 |
Outstanding at September 27, 2013 (shares) | ' | 17,798,000 |
Exercisable at September 27, 2013 (shares) | ' | 9,802,000 |
Expected to vest at September 27, 2013 (shares) | ' | 6,908,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' |
Outstanding at September 28, 2012 (per share) | ' | $9.70 |
Granted (per share) | ' | $16.11 |
Exercised (per share) | ' | $7.34 |
Forfeited and expired (per share) | ' | $11.57 |
Outstanding at September 27, 2013 (per share) | ' | $12.08 |
Exercisable at September 27, 2013 (per share) | ' | $7.65 |
Expected to vest at September 27, 2013 (per share) | ' | $14.36 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' |
Outstanding intrinsic value at September 27, 2013 | ' | $109,623 |
Exercisable intrinsic value at September 27, 2013 | ' | 90,471 |
Expected to vest intrinsic value at September 27, 2013 | ' | 17,420 |
Outstanding at September 27, 2013, Weighted-Average Remaining Term | ' | '6 years 8 months 12 days |
Exercisable at September 27, 2013, Weighted-Average Remaining Term | ' | '4 years 8 months 12 days |
Expected to vest at September 27, 2013, Weighted-Average Remaining Term | ' | '8 years 10 months 24 days |
Performance-based options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Outstanding at September 28, 2012 (shares) | 13,938,000 | 15,929,000 |
Granted (shares) | 466,763 | 463,000 |
Exercised (shares) | ' | -1,032,000 |
Forfeited and expired (shares) | ' | -1,422,000 |
Outstanding at September 27, 2013 (shares) | ' | 13,938,000 |
Exercisable at September 27, 2013 (shares) | ' | 4,548,000 |
Expected to vest at September 27, 2013 (shares) | ' | 1,669,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' |
Outstanding at September 28, 2012 (per share) | $8.86 | $9.68 |
Granted (per share) | ' | $15.06 |
Exercised (per share) | ' | $7.27 |
Forfeited and expired (per share) | ' | $9.41 |
Outstanding at September 27, 2013 (per share) | ' | $8.86 |
Exercisable at September 27, 2013 (per share) | ' | $7.29 |
Expected to vest at September 27, 2013 (per share) | ' | $11.82 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' |
Outstanding intrinsic value at September 27, 2013 | ' | 111,759 |
Exercisable intrinsic value at September 27, 2013 | ' | 43,596 |
Expected to vest intrinsic value at September 27, 2013 | ' | 8,444 |
Outstanding at September 27, 2013, Weighted-Average Remaining Term | ' | '5 years 7 months 6 days |
Exercisable at September 27, 2013, Weighted-Average Remaining Term | ' | '4 years 4 months 24 days |
Expected to vest at September 27, 2013, Weighted-Average Remaining Term | ' | '7 years 7 months 6 days |
Installment Stock Purchase Opportunities (ISPOs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Outstanding at September 28, 2012 (shares) | ' | 1,403,000 |
Granted (shares) | ' | 350,000 |
Exercised (shares) | ' | -158,000 |
Forfeited and expired (shares) | ' | -1,508,000 |
Outstanding at September 27, 2013 (shares) | ' | 87,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' |
Outstanding at September 28, 2012 (per share) | ' | $13.81 |
Granted (per share) | ' | $15.08 |
Exercised (per share) | ' | $11.83 |
Forfeited and expired (per share) | ' | $13.41 |
Outstanding at September 27, 2013 (per share) | ' | $12.21 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' |
Outstanding intrinsic value at September 27, 2013 | ' | $406 |
Outstanding at September 27, 2013, Weighted-Average Remaining Term | ' | '2 years 6 months |
Recovered_Sheet11
Accounts Receivable Securitization (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
Debt Instrument [Line Items] | ' | ' | ' |
Maximum borrowing capacity receivables facility | $300,000,000 | $300,000,000 | ' |
Receivables Facility, due January 2015 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long-term Debt | 300,000,000 | 300,000,000 | 263,800,000 |
Receivables Facility, due May 2017 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument, subsequent event | 350,000,000 | ' | ' |
Receivables Facility, seasonal tranche | $25,000,000 | ' | ' |
Recovered_Sheet12
Commitments And Contingencies (Detail) (USD $) | 12 Months Ended | |||
Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Mar. 28, 2014 | |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Capital and other purchase commitments | $249,800,000 | ' | ' | ' |
Letters of credit outstanding | 121,700,000 | ' | ' | ' |
Maximum potential liability from vehicle leases | 110,300,000 | ' | ' | 128,100,000 |
Rental expense for all operating leases | 179,300,000 | 177,400,000 | 168,100,000 | ' |
2014 | 219,698,000 | ' | ' | ' |
2015 | 93,661,000 | ' | ' | ' |
2016 | 76,420,000 | ' | ' | ' |
2017 | 67,469,000 | ' | ' | ' |
2018 | 52,123,000 | ' | ' | ' |
Subsequent years | 90,598,000 | ' | ' | ' |
Total minimum rental obligations | $599,969,000 | ' | ' | ' |
Minimum | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Operating Lease Terms | '1 year | ' | ' | ' |
Maximum | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Operating Lease Terms | '8 years | ' | ' | ' |
Business_Segments_Narrative_De
Business Segments Narrative (Detail) (USD $) | 12 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Apr. 01, 2011 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Dec. 28, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Sep. 27, 2013 | Sep. 30, 2011 |
Fixed Rate And Floating Rate Notes [Member] | Fixed Rate And Floating Rate Notes [Member] | Fixed Rate And Floating Rate Notes [Member] | Food and Support Services - North America | Food and Support Services - North America | Food and Support Services - North America | Food and Support Services - International | Food and Support Services - International | Food and Support Services - International | Food and Support Services - International | Uniform and Career Apparel | Uniform and Career Apparel | Uniform and Career Apparel | Uniform and Career Apparel | Corporate | Corporate | ||||
Country | |||||||||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Severance costs | ' | ' | ' | ' | ' | ' | $43.50 | ' | $6.20 | ' | $14.60 | $2.90 | $11.40 | $3.70 | $8.50 | $2.60 | $3.90 | $1.10 | $1.30 |
Asset write-offs | ' | ' | ' | ' | ' | ' | 6.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transition and integration costs | ' | ' | ' | ' | ' | ' | ' | 4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Favorable Risk Insurance Adjustment | ' | ' | ' | ' | ' | ' | ' | 1.7 | 0.9 | ' | ' | ' | ' | ' | 6.5 | 5.7 | 4.8 | ' | ' |
Income from Investment | ' | ' | ' | ' | ' | ' | 14 | 6.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation Agreement Signed with the National Park Service (NPS) | ' | ' | ' | ' | ' | ' | ' | ' | 7.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Countries in International Segment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | ' | ' | ' | ' | ' | ' | ' | ' |
Asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.3 | 16.9 | ' | 5.3 | ' | ' | ' | ' | ' | ' |
Favorable Non-Income Tax Settlements in the UK | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 5.3 | ' | ' | ' | ' | ' | ' |
Pretax gain on sale of business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.7 | ' | ' | ' | ' | ' | ' |
Percentage ownership sold in Chilean subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.00% | ' | ' | ' | ' | ' | ' |
Land Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' |
Gain on Settlement of an Eminent Domain Claim | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.6 | ' | ' |
Charges in connection with the tender offer and Satisfaction and Discharge | ' | ' | ' | 39.8 | 39.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Third party costs for the tender offer premium | ' | ' | ' | 12.9 | 12.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of Deferred Debt Issuance Cost | ' | ' | ' | 26.9 | 26.9 | 2.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charges Related to Senior Secured Credit Agreement | 11.6 | 11.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Hedge ineffectiveness related to the repayment of Canadian subsidiary's term loan | 3.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Favorable Adjustment Related to Non-Income Tax Settlement in the UK | ' | ' | $14.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Segments_Detail
Business Segments (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Sales | $3,502,007,000 | $3,403,737,000 | $7,265,088,000 | $6,939,652,000 | $13,945,657,000 | $13,505,426,000 | $13,082,377,000 | |||
Operating income | 120,807,000 | 80,215,000 | 278,029,000 | 255,534,000 | 514,474,000 | 581,775,000 | 547,089,000 | |||
Interest and other financing costs, net | -102,074,000 | -147,124,000 | -185,427,000 | -260,475,000 | -423,845,000 | -456,807,000 | -451,120,000 | |||
Depreciation and amortization | 125,317,000 | 135,304,000 | 262,141,000 | 268,704,000 | 542,136,000 | 529,213,000 | 510,516,000 | |||
Income (Loss) Before Income Taxes | 18,733,000 | -66,909,000 | 92,602,000 | -4,941,000 | 90,629,000 | 124,968,000 | 95,969,000 | |||
Capital Expenditures and Client Contract Investments and Other | ' | ' | ' | ' | 393,100,000 | [1] | 373,400,000 | [1] | 300,200,000 | [1] |
Assets | 10,286,631,000 | ' | 10,286,631,000 | ' | 10,267,106,000 | 10,487,354,000 | ' | |||
Property and Equipment, net | 960,903,000 | ' | 960,903,000 | ' | 977,323,000 | 976,309,000 | ' | |||
Food and Support Services - North America | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Sales | 2,396,880,000 | 2,354,315,000 | 5,017,231,000 | 4,811,899,000 | 9,665,200,000 | 9,413,200,000 | 9,019,000,000 | |||
Operating income | 125,416,000 | 84,238,000 | 288,550,000 | 225,789,000 | 405,100,000 | 425,600,000 | 400,500,000 | |||
Depreciation and amortization | 91,954,000 | 93,161,000 | 188,002,000 | 185,009,000 | 375,700,000 | 364,700,000 | 341,900,000 | |||
Capital Expenditures and Client Contract Investments and Other | ' | ' | ' | ' | 285,600,000 | [1] | 281,000,000 | [1] | 207,900,000 | [1] |
Assets | ' | ' | ' | ' | 6,939,300,000 | 7,120,800,000 | ' | |||
Food and Support Services - International | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Sales | 744,163,000 | 702,154,000 | 1,519,738,000 | 1,427,051,000 | 2,869,200,000 | 2,729,500,000 | 2,723,300,000 | |||
Operating income | 13,163,000 | -10,027,000 | 40,235,000 | 9,183,000 | 66,200,000 | 89,900,000 | 79,900,000 | |||
Depreciation and amortization | 13,916,000 | 16,019,000 | 29,375,000 | 31,798,000 | 62,500,000 | 61,000,000 | 62,600,000 | |||
Capital Expenditures and Client Contract Investments and Other | ' | ' | ' | ' | 60,700,000 | [1] | 51,900,000 | [1] | 58,600,000 | [1] |
Assets | ' | ' | ' | ' | 1,531,200,000 | 1,527,700,000 | ' | |||
Uniform and Career Apparel | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Sales | 360,964,000 | 347,268,000 | 728,119,000 | 700,702,000 | 1,411,300,000 | 1,362,700,000 | 1,340,100,000 | |||
Operating income | 36,564,000 | 23,277,000 | 76,859,000 | 54,373,000 | 117,300,000 | 118,100,000 | 117,300,000 | |||
Depreciation and amortization | 19,170,000 | 25,898,000 | 44,402,000 | 51,442,000 | 102,000,000 | 102,600,000 | 105,100,000 | |||
Capital Expenditures and Client Contract Investments and Other | ' | ' | ' | ' | 46,700,000 | [1] | 40,500,000 | [1] | 33,300,000 | [1] |
Assets | ' | ' | ' | ' | 1,670,000,000 | 1,681,700,000 | ' | |||
Total Segment Operating Income Excluding Corporate | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Operating income | 175,143,000 | 97,488,000 | 405,644,000 | 289,345,000 | 588,600,000 | 633,600,000 | 597,700,000 | |||
Corporate | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Operating income | -54,336,000 | -17,273,000 | -127,615,000 | -33,811,000 | -74,200,000 | -51,800,000 | -50,600,000 | |||
Depreciation and amortization | 277,000 | 226,000 | 362,000 | 455,000 | 1,900,000 | 900,000 | 900,000 | |||
Capital Expenditures and Client Contract Investments and Other | ' | ' | ' | ' | 100,000 | [1] | ' | 400,000 | [1] | |
Assets | ' | ' | ' | ' | 126,600,000 | 157,200,000 | ' | |||
United States [Member] | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Sales | ' | ' | ' | ' | 10,025,000,000 | 9,729,600,000 | 9,369,600,000 | |||
Property and Equipment, net | ' | ' | ' | ' | 789,400,000 | 790,100,000 | ' | |||
Foreign [Member] | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||
Sales | ' | ' | ' | ' | 3,920,700,000 | 3,775,800,000 | 3,712,800,000 | |||
Property and Equipment, net | ' | ' | ' | ' | $187,900,000 | $186,200,000 | ' | |||
[1] | Includes amounts acquired in business combinations |
Recovered_Sheet13
Fair Value Of Assets And Liabilities Narrative (Detail) (Fair Value, Measurements, Recurring [Member], USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 |
Estimate of Fair Value Measurement [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair Value of debt | $5,694,800,000 | $5,854,900,000 | $6,052,900,000 |
Reported Value Measurement [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Carrying value of debt | $5,637,500,000 | $5,824,100,000 | $6,008,800,000 |
Recovered_Sheet14
Fair Value Of Assets And Liabilities Common Stock Subject to Repurchase Level 3 Rollforward (Detail) (Level 3, USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 28, 2014 | Sep. 27, 2013 |
Level 3 | ' | ' |
Fair Value Temporary Equity Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' |
Beginning Balance | $158,708 | $167,461 |
Issuances of common stock | ' | 1,904 |
Repurchases of common stock | -763 | -27,474 |
Change in fair market value of common stock | ' | 16,817 |
Reclassification of common stock subject to repurchase | -157,945 | ' |
Ending Balance | $0 | $158,708 |
Related_Party_Transactions_Det
Related Party Transactions (Detail) (Interest rate swap agreements, Swap, USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Gs Capital Partners [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Notional amount of derivative | $230 | $96 | ' |
Net payments to related party for interest rate swap transactions | 3.1 | 21.5 | 40.1 |
J.P. Morgan Partners [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Notional amount of derivative | 205 | 221 | ' |
Net payments to related party for interest rate swap transactions | $5.50 | $28.20 | $51.60 |
Subsequent_Events_Detail
Subsequent Events (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Nov. 11, 2013 | Nov. 12, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Jun. 21, 2011 | Nov. 11, 2013 |
In Millions, except Share data, unless otherwise specified | Subsequent Event | Subsequent Event | Subsequent Event | Restricted Stock Units (RSUs) [Member] | Performance Shares Under Modification | Performance Shares Under Modification | Performance Shares Under Modification | ||
Deferred Bonus [Member] | Deferred Bonus [Member] | 2013 Stock Plan | Subsequent Event | Subsequent Event | |||||
Maximum | |||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual individual participant bonus award maximum limit | ' | ' | $4.30 | $6 | ' | ' | ' | ' | ' |
Value of RSUs granted | ' | ' | ' | ' | ' | 35 | ' | ' | ' |
Award vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
First Performance Target for PBO for IPO Modification | ' | ' | ' | ' | ' | ' | $20 | ' | $20 |
Second Performance target for PBO for IPO Modification | ' | ' | ' | ' | ' | ' | $25 | ' | $25 |
Percent to vest, Performance based options, second target | ' | ' | ' | ' | ' | ' | 100.00% | ' | 100.00% |
Option Awards Modified in Period | ' | ' | ' | ' | ' | ' | 5,000,000 | 3,700,000 | 5,300,000 |
Options modification amount | ' | ' | ' | ' | ' | ' | ' | ' | $55 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 25,500,000 | 42,000,000 | ' | ' | 25,500,000 | ' | ' | ' | ' |
Condensed_Consolidating_Balanc
Condensed Consolidating Balance Sheets of ARAMARK Holdings Corporation and Subsidiaries (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Mar. 29, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | Oct. 01, 2010 |
Current Assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $139,184,000 | $110,998,000 | $119,715,000 | $136,748,000 | $213,390,000 | $160,929,000 |
Receivables | 1,523,027,000 | 1,405,843,000 | ' | 1,315,997,000 | ' | ' |
Inventories, at lower of cost or market | 549,942,000 | 541,972,000 | ' | 508,416,000 | ' | ' |
Prepayments and other current assets | 203,563,000 | 228,352,000 | ' | 224,340,000 | ' | ' |
Total current assets | 2,415,716,000 | 2,287,165,000 | ' | 2,185,501,000 | ' | ' |
Property and Equipment, net | 960,903,000 | 977,323,000 | ' | 976,309,000 | ' | ' |
Goodwill | 4,615,402,000 | 4,619,987,000 | ' | 4,729,474,000 | ' | ' |
Investment in and Advance to Subsidiaries | 0 | 0 | ' | 0 | ' | ' |
Other Intangible Assets | 1,327,349,000 | 1,408,764,000 | ' | 1,595,149,000 | ' | ' |
Other Assets | 967,261,000 | 973,867,000 | ' | 1,000,921,000 | ' | ' |
Assets | 10,286,631,000 | 10,267,106,000 | ' | 10,487,354,000 | ' | ' |
Current Liabilities: | ' | ' | ' | ' | ' | ' |
Current maturities of long-term borrowings | 89,613,000 | 65,841,000 | ' | 37,462,000 | ' | ' |
Accounts payable | 804,241,000 | 888,969,000 | ' | 873,345,000 | ' | ' |
Accrued expenses and other current liabilities | 1,159,694,000 | 1,434,443,000 | ' | 1,252,900,000 | ' | ' |
Total current liabilities | 2,053,548,000 | 2,389,253,000 | ' | 2,163,674,000 | ' | ' |
Long-term Borrowings | 5,547,928,000 | 5,758,229,000 | ' | 5,971,305,000 | ' | ' |
Deferred Income Taxes and Other Noncurrent Liabilities | 975,838,000 | 1,047,002,000 | ' | 1,207,585,000 | ' | ' |
Intercompany Payable | 0 | 0 | ' | 0 | ' | ' |
Common Stock Subject to Repurchase and Other | 10,177,000 | 168,915,000 | ' | 177,926,000 | ' | ' |
Total Stockholders' Equity | 1,699,140,000 | 903,707,000 | 809,807,000 | 966,864,000 | 882,465,000 | 1,396,957,000 |
Liabilities and Equity | 10,286,631,000 | 10,267,106,000 | ' | 10,487,354,000 | ' | ' |
ARAMARK Holdings Corporation | ' | ' | ' | ' | ' | ' |
Current Assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 100,000 | 100,000 | 100,000 | 0 |
Receivables | 0 | 0 | ' | 0 | ' | ' |
Inventories, at lower of cost or market | 0 | 0 | ' | 0 | ' | ' |
Prepayments and other current assets | 0 | 0 | ' | 0 | ' | ' |
Total current assets | 0 | 0 | ' | 100,000 | ' | ' |
Property and Equipment, net | 0 | 0 | ' | 0 | ' | ' |
Goodwill | 0 | 0 | ' | 0 | ' | ' |
Investment in and Advance to Subsidiaries | 1,699,900,000 | 1,062,700,000 | ' | 1,706,100,000 | ' | ' |
Other Intangible Assets | 0 | 0 | ' | 0 | ' | ' |
Other Assets | 0 | 0 | ' | 11,000,000 | ' | ' |
Assets | 1,699,900,000 | 1,062,700,000 | ' | 1,717,200,000 | ' | ' |
Current Liabilities: | ' | ' | ' | ' | ' | ' |
Current maturities of long-term borrowings | 0 | 0 | ' | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | 0 | ' | ' |
Accrued expenses and other current liabilities | 800,000 | 300,000 | ' | 21,200,000 | ' | ' |
Total current liabilities | 800,000 | 300,000 | ' | 21,200,000 | ' | ' |
Long-term Borrowings | 0 | 0 | ' | 595,500,000 | ' | ' |
Deferred Income Taxes and Other Noncurrent Liabilities | 0 | 0 | ' | 0 | ' | ' |
Intercompany Payable | 0 | 0 | ' | 0 | ' | ' |
Common Stock Subject to Repurchase and Other | 0 | 158,700,000 | ' | 167,500,000 | ' | ' |
Total Stockholders' Equity | 1,699,100,000 | 903,700,000 | ' | 933,000,000 | ' | ' |
Liabilities and Equity | 1,699,900,000 | 1,062,700,000 | ' | 1,717,200,000 | ' | ' |
ARAMARK Corporation | ' | ' | ' | ' | ' | ' |
Current Assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 30,100,000 | 23,000,000 | 25,100,000 | 27,400,000 | 137,400,000 | 79,400,000 |
Receivables | 600,000 | 1,400,000 | ' | 2,700,000 | ' | ' |
Inventories, at lower of cost or market | 15,600,000 | 15,900,000 | ' | 15,900,000 | ' | ' |
Prepayments and other current assets | 32,600,000 | 46,200,000 | ' | 13,400,000 | ' | ' |
Total current assets | 78,900,000 | 86,500,000 | ' | 59,400,000 | ' | ' |
Property and Equipment, net | 23,800,000 | 24,400,000 | ' | 25,600,000 | ' | ' |
Goodwill | 173,100,000 | 173,100,000 | ' | 173,100,000 | ' | ' |
Investment in and Advance to Subsidiaries | 5,886,600,000 | 6,267,400,000 | ' | 6,353,300,000 | ' | ' |
Other Intangible Assets | 29,700,000 | 32,600,000 | ' | 42,000,000 | ' | ' |
Other Assets | 70,000,000 | 68,400,000 | ' | 64,200,000 | ' | ' |
Assets | 6,262,100,000 | 6,652,400,000 | ' | 6,717,600,000 | ' | ' |
Current Liabilities: | ' | ' | ' | ' | ' | ' |
Current maturities of long-term borrowings | 36,000,000 | 22,500,000 | ' | 700,000 | ' | ' |
Accounts payable | 166,900,000 | 147,000,000 | ' | 148,600,000 | ' | ' |
Accrued expenses and other current liabilities | 164,700,000 | 230,200,000 | ' | 146,100,000 | ' | ' |
Total current liabilities | 367,600,000 | 399,700,000 | ' | 295,400,000 | ' | ' |
Long-term Borrowings | 4,681,200,000 | 5,101,700,000 | ' | 4,586,000,000 | ' | ' |
Deferred Income Taxes and Other Noncurrent Liabilities | 320,900,000 | 326,200,000 | ' | 355,000,000 | ' | ' |
Intercompany Payable | 0 | 0 | ' | 0 | ' | ' |
Common Stock Subject to Repurchase and Other | 0 | 0 | ' | 0 | ' | ' |
Total Stockholders' Equity | 892,400,000 | 824,800,000 | ' | 1,481,200,000 | ' | ' |
Liabilities and Equity | 6,262,100,000 | 6,652,400,000 | ' | 6,717,600,000 | ' | ' |
Guarantors | ' | ' | ' | ' | ' | ' |
Current Assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 43,800,000 | 40,500,000 | 39,300,000 | 41,700,000 | 31,700,000 | 33,800,000 |
Receivables | 321,000,000 | 242,900,000 | ' | 235,900,000 | ' | ' |
Inventories, at lower of cost or market | 453,400,000 | 441,000,000 | ' | 414,800,000 | ' | ' |
Prepayments and other current assets | 83,200,000 | 103,100,000 | ' | 144,400,000 | ' | ' |
Total current assets | 901,400,000 | 827,500,000 | ' | 836,800,000 | ' | ' |
Property and Equipment, net | 748,100,000 | 751,200,000 | ' | 738,500,000 | ' | ' |
Goodwill | 3,981,700,000 | 3,994,600,000 | ' | 3,987,200,000 | ' | ' |
Investment in and Advance to Subsidiaries | 477,200,000 | 444,800,000 | ' | 389,900,000 | ' | ' |
Other Intangible Assets | 1,159,500,000 | 1,230,000,000 | ' | 1,366,600,000 | ' | ' |
Other Assets | 631,000,000 | 629,500,000 | ' | 603,700,000 | ' | ' |
Assets | 7,898,900,000 | 7,877,600,000 | ' | 7,922,700,000 | ' | ' |
Current Liabilities: | ' | ' | ' | ' | ' | ' |
Current maturities of long-term borrowings | 11,000,000 | 12,000,000 | ' | 11,600,000 | ' | ' |
Accounts payable | 396,300,000 | 448,300,000 | ' | 387,700,000 | ' | ' |
Accrued expenses and other current liabilities | 676,100,000 | 875,600,000 | ' | 798,100,000 | ' | ' |
Total current liabilities | 1,083,400,000 | 1,335,900,000 | ' | 1,197,400,000 | ' | ' |
Long-term Borrowings | 43,100,000 | 40,400,000 | ' | 38,400,000 | ' | ' |
Deferred Income Taxes and Other Noncurrent Liabilities | 573,500,000 | 618,300,000 | ' | 657,100,000 | ' | ' |
Intercompany Payable | 5,277,500,000 | 5,016,000,000 | ' | 5,294,300,000 | ' | ' |
Common Stock Subject to Repurchase and Other | 10,200,000 | 10,200,000 | ' | 10,400,000 | ' | ' |
Total Stockholders' Equity | 911,200,000 | 856,800,000 | ' | 725,100,000 | ' | ' |
Liabilities and Equity | 7,898,900,000 | 7,877,600,000 | ' | 7,922,700,000 | ' | ' |
Non-Guarantors | ' | ' | ' | ' | ' | ' |
Current Assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 65,300,000 | 47,500,000 | 55,200,000 | 67,600,000 | 44,200,000 | 47,700,000 |
Receivables | 1,201,400,000 | 1,161,600,000 | ' | 1,077,400,000 | ' | ' |
Inventories, at lower of cost or market | 80,900,000 | 85,100,000 | ' | 77,700,000 | ' | ' |
Prepayments and other current assets | 87,800,000 | 79,000,000 | ' | 66,500,000 | ' | ' |
Total current assets | 1,435,400,000 | 1,373,200,000 | ' | 1,289,200,000 | ' | ' |
Property and Equipment, net | 189,000,000 | 201,700,000 | ' | 212,200,000 | ' | ' |
Goodwill | 460,600,000 | 452,300,000 | ' | 569,200,000 | ' | ' |
Investment in and Advance to Subsidiaries | 114,500,000 | 124,500,000 | ' | 139,200,000 | ' | ' |
Other Intangible Assets | 138,100,000 | 146,100,000 | ' | 186,500,000 | ' | ' |
Other Assets | 268,300,000 | 278,000,000 | ' | 324,000,000 | ' | ' |
Assets | 2,605,900,000 | 2,575,800,000 | ' | 2,720,300,000 | ' | ' |
Current Liabilities: | ' | ' | ' | ' | ' | ' |
Current maturities of long-term borrowings | 42,700,000 | 31,300,000 | ' | 25,200,000 | ' | ' |
Accounts payable | 241,000,000 | 293,700,000 | ' | 337,000,000 | ' | ' |
Accrued expenses and other current liabilities | 318,000,000 | 328,300,000 | ' | 287,400,000 | ' | ' |
Total current liabilities | 601,700,000 | 653,300,000 | ' | 649,600,000 | ' | ' |
Long-term Borrowings | 823,600,000 | 616,100,000 | ' | 751,400,000 | ' | ' |
Deferred Income Taxes and Other Noncurrent Liabilities | 81,400,000 | 102,500,000 | ' | 195,500,000 | ' | ' |
Intercompany Payable | 1,183,300,000 | 1,305,700,000 | ' | 1,079,900,000 | ' | ' |
Common Stock Subject to Repurchase and Other | 0 | 0 | ' | 0 | ' | ' |
Total Stockholders' Equity | -84,100,000 | -101,800,000 | ' | 43,900,000 | ' | ' |
Liabilities and Equity | 2,605,900,000 | 2,575,800,000 | ' | 2,720,300,000 | ' | ' |
Eliminations | ' | ' | ' | ' | ' | ' |
Current Assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 |
Receivables | 0 | 0 | ' | 0 | ' | ' |
Inventories, at lower of cost or market | 0 | 0 | ' | 0 | ' | ' |
Prepayments and other current assets | 0 | 0 | ' | 0 | ' | ' |
Total current assets | 0 | 0 | ' | 0 | ' | ' |
Property and Equipment, net | 0 | 0 | ' | 0 | ' | ' |
Goodwill | 0 | 0 | ' | 0 | ' | ' |
Investment in and Advance to Subsidiaries | -8,178,200,000 | -7,899,400,000 | ' | -8,588,500,000 | ' | ' |
Other Intangible Assets | 0 | 0 | ' | 0 | ' | ' |
Other Assets | -2,000,000 | -2,000,000 | ' | -2,000,000 | ' | ' |
Assets | -8,180,200,000 | -7,901,400,000 | ' | -8,590,500,000 | ' | ' |
Current Liabilities: | ' | ' | ' | ' | ' | ' |
Current maturities of long-term borrowings | 0 | 0 | ' | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | 0 | ' | ' |
Accrued expenses and other current liabilities | 100,000 | 100,000 | ' | 100,000 | ' | ' |
Total current liabilities | 100,000 | 100,000 | ' | 100,000 | ' | ' |
Long-term Borrowings | 0 | 0 | ' | 0 | ' | ' |
Deferred Income Taxes and Other Noncurrent Liabilities | 0 | 0 | ' | 0 | ' | ' |
Intercompany Payable | -6,460,800,000 | -6,321,700,000 | ' | -6,374,200,000 | ' | ' |
Common Stock Subject to Repurchase and Other | 0 | 0 | ' | 0 | ' | ' |
Total Stockholders' Equity | -1,719,500,000 | -1,579,800,000 | ' | -2,216,400,000 | ' | ' |
Liabilities and Equity | ($8,180,200,000) | ($7,901,400,000) | ' | ($8,590,500,000) | ' | ' |
Condensed_Consolidating_Statem
Condensed Consolidating Statements of Operations and Comprehensive Income of ARAMARK Holdings Corporation and Subsidiaries (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Sales | $3,502,007,000 | $3,403,737,000 | $7,265,088,000 | $6,939,652,000 | $13,945,657,000 | $13,505,426,000 | $13,082,377,000 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 3,159,808,000 | 3,132,226,000 | 6,514,627,000 | 6,303,766,000 | 12,661,145,000 | 12,191,419,000 | 11,836,780,000 |
Depreciation and amortization | 125,317,000 | 135,304,000 | 262,141,000 | 268,704,000 | 542,136,000 | 529,213,000 | 510,516,000 |
Selling and general corporate expenses | 96,075,000 | 55,992,000 | 210,291,000 | 111,648,000 | 227,902,000 | 203,019,000 | 187,992,000 |
Interest and other financing costs | 102,074,000 | 147,124,000 | 185,427,000 | 260,475,000 | 423,845,000 | 456,807,000 | 451,120,000 |
Expense allocations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cost of Services | 3,483,300,000 | 3,470,600,000 | 7,172,400,000 | 6,944,600,000 | 13,855,000,000 | 13,380,500,000 | 12,986,500,000 |
Income (Loss) Before Income Taxes | 18,733,000 | -66,909,000 | 92,602,000 | -4,941,000 | 90,629,000 | 124,968,000 | 95,969,000 |
Provision (Benefit) for Income Taxes | 5,616,000 | -27,005,000 | 34,569,000 | -8,229,000 | 19,233,000 | 18,066,000 | -734,000 |
Equity in Net Income of Subsidiaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | 71,396,000 | 106,902,000 | 96,703,000 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | -1,030,000 | 297,000 | -11,732,000 |
Net income (loss) | 13,117,000 | -39,904,000 | 58,033,000 | 3,288,000 | 70,366,000 | 107,199,000 | 84,971,000 |
Less: Net income attributable to noncontrolling interests | 201,000 | 200,000 | 355,000 | 578,000 | 1,010,000 | 3,648,000 | 1,125,000 |
Net income (loss) attributable to ARAMARK Holdings stockholders | 12,916,000 | -40,104,000 | 57,678,000 | 2,710,000 | 69,356,000 | 103,551,000 | 83,846,000 |
Other comprehensive income (loss), net of tax | -5,166,000 | -20,803,000 | 385,000 | -16,143,000 | 14,520,000 | 3,600,000 | 51,181,000 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | 7,750,000 | -60,907,000 | 58,063,000 | -13,433,000 | 83,876,000 | 107,151,000 | 135,027,000 |
ARAMARK Holdings Corporation | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Selling and general corporate expenses | 700,000 | -300,000 | 6,000,000 | 800,000 | 900,000 | 500,000 | 1,100,000 |
Interest and other financing costs | 0 | 37,100,000 | 0 | 51,000,000 | 51,000,000 | 55,000,000 | 24,900,000 |
Expense allocations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cost of Services | 700,000 | 36,800,000 | 6,000,000 | 51,800,000 | 51,900,000 | 55,500,000 | 26,000,000 |
Income (Loss) Before Income Taxes | -700,000 | -36,800,000 | -6,000,000 | -51,800,000 | -51,900,000 | -55,500,000 | -26,000,000 |
Provision (Benefit) for Income Taxes | -300,000 | -13,800,000 | -2,100,000 | -19,400,000 | -19,200,000 | -20,900,000 | -9,800,000 |
Equity in Net Income of Subsidiaries | 13,300,000 | -17,100,000 | 61,600,000 | 35,100,000 | 102,100,000 | 138,200,000 | 100,000,000 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | 69,400,000 | 103,600,000 | 83,800,000 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | 12,900,000 | -40,100,000 | 57,700,000 | 2,700,000 | 69,400,000 | 103,600,000 | 83,800,000 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net income (loss) attributable to ARAMARK Holdings stockholders | 12,900,000 | -40,100,000 | 57,700,000 | 2,700,000 | 69,400,000 | 103,600,000 | 83,800,000 |
Other comprehensive income (loss), net of tax | -5,100,000 | -20,800,000 | 400,000 | -16,100,000 | 14,500,000 | 3,600,000 | 51,200,000 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | 7,800,000 | -60,900,000 | 58,100,000 | -13,400,000 | 83,900,000 | 107,200,000 | 135,000,000 |
ARAMARK Corporation | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Sales | 248,500,000 | 250,800,000 | 512,500,000 | 507,900,000 | 1,034,000,000 | 1,025,200,000 | 1,012,700,000 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 221,000,000 | 255,100,000 | 454,700,000 | 494,400,000 | 996,600,000 | 962,000,000 | 948,300,000 |
Depreciation and amortization | 3,100,000 | 4,900,000 | 8,100,000 | 9,800,000 | 21,000,000 | 19,200,000 | 20,000,000 |
Selling and general corporate expenses | 56,600,000 | 21,300,000 | 127,400,000 | 39,400,000 | 82,500,000 | 58,500,000 | 56,900,000 |
Interest and other financing costs | 95,300,000 | 103,300,000 | 170,500,000 | 191,000,000 | 342,400,000 | 364,000,000 | 410,300,000 |
Expense allocations | -129,200,000 | -121,800,000 | -252,300,000 | -207,900,000 | -362,800,000 | -353,100,000 | -377,800,000 |
Cost of Services | 246,800,000 | 262,800,000 | 508,400,000 | 526,700,000 | 1,079,700,000 | 1,050,600,000 | 1,057,700,000 |
Income (Loss) Before Income Taxes | 1,700,000 | -12,000,000 | 4,100,000 | -18,800,000 | -45,700,000 | -25,400,000 | -45,000,000 |
Provision (Benefit) for Income Taxes | 500,000 | -7,500,000 | 1,200,000 | -11,600,000 | -31,900,000 | -9,200,000 | -35,600,000 |
Equity in Net Income of Subsidiaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | -13,800,000 | -16,200,000 | -9,400,000 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | 1,200,000 | -4,500,000 | 2,900,000 | -7,200,000 | -13,800,000 | -16,200,000 | -9,400,000 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net income (loss) attributable to ARAMARK Holdings stockholders | 1,200,000 | -4,500,000 | 2,900,000 | -7,200,000 | -13,800,000 | -16,200,000 | -9,400,000 |
Other comprehensive income (loss), net of tax | -1,500,000 | 11,000,000 | 10,100,000 | 24,600,000 | 34,800,000 | 32,900,000 | 42,600,000 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | -300,000 | 6,500,000 | 13,000,000 | 17,400,000 | 21,000,000 | 16,700,000 | 33,200,000 |
Guarantors | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Sales | 2,217,800,000 | 2,131,900,000 | 4,607,800,000 | 4,351,100,000 | 8,792,800,000 | 8,427,600,000 | 8,120,800,000 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 1,967,600,000 | 1,896,100,000 | 4,069,700,000 | 3,845,000,000 | 7,811,800,000 | 7,478,400,000 | 7,238,500,000 |
Depreciation and amortization | 98,900,000 | 104,300,000 | 205,300,000 | 206,700,000 | 418,900,000 | 403,800,000 | 383,200,000 |
Selling and general corporate expenses | 33,800,000 | 30,300,000 | 67,300,000 | 61,700,000 | 125,700,000 | 123,000,000 | 107,100,000 |
Interest and other financing costs | -600,000 | -500,000 | -700,000 | -500,000 | -2,700,000 | -400,000 | 100,000 |
Expense allocations | 121,300,000 | 114,800,000 | 236,100,000 | 196,600,000 | 326,100,000 | 316,000,000 | 345,600,000 |
Cost of Services | 2,221,000,000 | 2,145,000,000 | 4,577,700,000 | 4,309,500,000 | 8,679,800,000 | 8,320,800,000 | 8,074,500,000 |
Income (Loss) Before Income Taxes | -3,200,000 | -13,100,000 | 30,100,000 | 41,600,000 | 113,000,000 | 106,800,000 | 46,300,000 |
Provision (Benefit) for Income Taxes | -1,800,000 | -6,800,000 | 13,300,000 | 11,900,000 | 52,300,000 | 30,400,000 | 18,900,000 |
Equity in Net Income of Subsidiaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | 60,700,000 | 76,400,000 | 27,400,000 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | -1,000,000 | 300,000 | -11,700,000 |
Net income (loss) | -1,400,000 | -6,300,000 | 16,800,000 | 29,700,000 | 59,700,000 | 76,700,000 | 15,700,000 |
Less: Net income attributable to noncontrolling interests | 200,000 | 200,000 | 400,000 | 400,000 | 800,000 | 1,100,000 | 0 |
Net income (loss) attributable to ARAMARK Holdings stockholders | -1,600,000 | -6,500,000 | 16,400,000 | 29,300,000 | 58,900,000 | 75,600,000 | 15,700,000 |
Other comprehensive income (loss), net of tax | 500,000 | -3,000,000 | 1,600,000 | -3,000,000 | 600,000 | 2,300,000 | -1,100,000 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | -1,100,000 | -9,500,000 | 18,000,000 | 26,300,000 | 59,500,000 | 77,900,000 | 14,600,000 |
Non-Guarantors | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Sales | 1,035,700,000 | 1,021,000,000 | 2,144,800,000 | 2,080,700,000 | 4,118,800,000 | 4,052,600,000 | 3,948,900,000 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 971,200,000 | 981,000,000 | 1,990,200,000 | 1,964,400,000 | 3,852,800,000 | 3,751,100,000 | 3,650,000,000 |
Depreciation and amortization | 23,300,000 | 26,100,000 | 48,700,000 | 52,200,000 | 102,200,000 | 106,200,000 | 107,300,000 |
Selling and general corporate expenses | 5,000,000 | 4,700,000 | 9,600,000 | 9,700,000 | 18,800,000 | 21,000,000 | 22,900,000 |
Interest and other financing costs | 7,400,000 | 7,200,000 | 15,600,000 | 19,000,000 | 33,100,000 | 38,200,000 | 15,900,000 |
Expense allocations | 7,900,000 | 7,000,000 | 16,200,000 | 11,300,000 | 36,700,000 | 37,100,000 | 32,200,000 |
Cost of Services | 1,014,800,000 | 1,026,000,000 | 2,080,300,000 | 2,056,600,000 | 4,043,600,000 | 3,953,600,000 | 3,823,300,000 |
Income (Loss) Before Income Taxes | 20,900,000 | -5,000,000 | 64,500,000 | 24,100,000 | 75,200,000 | 99,000,000 | 120,600,000 |
Provision (Benefit) for Income Taxes | 7,200,000 | 1,100,000 | 22,200,000 | 10,900,000 | 18,000,000 | 17,700,000 | 25,800,000 |
Equity in Net Income of Subsidiaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | 57,200,000 | 81,300,000 | 94,800,000 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | 13,700,000 | -6,100,000 | 42,300,000 | 13,200,000 | 57,200,000 | 81,300,000 | 94,800,000 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 200,000 | 200,000 | 2,500,000 | 1,100,000 |
Net income (loss) attributable to ARAMARK Holdings stockholders | 13,700,000 | -6,100,000 | 42,300,000 | 13,000,000 | 57,000,000 | 78,800,000 | 93,700,000 |
Other comprehensive income (loss), net of tax | -8,200,000 | -38,000,000 | -17,400,000 | -44,300,000 | -19,200,000 | -28,400,000 | -900,000 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | 5,500,000 | -44,100,000 | 24,900,000 | -31,300,000 | 37,800,000 | 50,400,000 | 92,800,000 |
Eliminations | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' |
Cost of services provided | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Selling and general corporate expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest and other financing costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Expense allocations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cost of Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income (Loss) Before Income Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Provision (Benefit) for Income Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Equity in Net Income of Subsidiaries | -13,300,000 | 17,100,000 | -61,600,000 | -35,100,000 | -102,100,000 | -138,200,000 | -100,000,000 |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | -102,100,000 | -138,200,000 | -100,000,000 |
Income (Loss) from Discontinued Operations, net of tax | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | -13,300,000 | 17,100,000 | -61,600,000 | -35,100,000 | -102,100,000 | -138,200,000 | -100,000,000 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net income (loss) attributable to ARAMARK Holdings stockholders | -13,300,000 | 17,100,000 | -61,600,000 | -35,100,000 | -102,100,000 | -138,200,000 | -100,000,000 |
Other comprehensive income (loss), net of tax | 9,200,000 | 30,000,000 | 5,700,000 | 22,700,000 | -16,200,000 | -6,800,000 | -40,600,000 |
Comprehensive income (loss) attributable to ARAMARK Holdings stockholders | ($4,100,000) | $47,100,000 | ($55,900,000) | ($12,400,000) | ($118,300,000) | ($145,000,000) | ($140,600,000) |
Condensed_Consolidating_Statem1
Condensed Consolidating Statements of Cash Flows ARAMARK Holdings Corporation and Subsidiaries (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |||
Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | ($127,420,000) | $51,063,000 | $695,907,000 | $691,761,000 | $303,608,000 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | -172,223,000 | -167,207,000 | -392,932,000 | -354,542,000 | -293,776,000 |
Disposals of property and equipment | 12,636,000 | 6,469,000 | 11,298,000 | 11,666,000 | 21,499,000 |
Proceeds from divestiture | 24,000,000 | 919,000 | 919,000 | 6,479,000 | 83,078,000 |
Acquisitions of businesses, net of cash acquired | -10,820,000 | -22,477,000 | -22,600,000 | -151,800,000 | -157,000,000 |
Other investing activities | 5,129,000 | 22,974,000 | 17,893,000 | 6,568,000 | -16,993,000 |
Net cash used in investing activities | -141,278,000 | -159,322,000 | -385,388,000 | -481,576,000 | -363,147,000 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 1,734,343,000 | 3,230,710,000 | 3,080,464,000 | 3,449,000 | 616,252,000 |
Payments of long-term borrowings | -1,917,068,000 | -3,043,631,000 | -3,314,853,000 | -288,940,000 | -31,236,000 |
Net change in funding under the Receivables Facility | 0 | 36,200,000 | 36,200,000 | 37,895,000 | 225,905,000 |
Distribution in connection with spin-off of Seamless | 0 | -47,352,000 | -47,352,000 | 0 | 0 |
Proceeds from issuance of common stock | 3,419,000 | 4,372,000 | 5,597,000 | 11,258,000 | 4,593,000 |
Repurchase of common stock | -1,549,000 | -33,155,000 | -42,399,000 | -37,704,000 | -16,149,000 |
Payment of dividends | -17,306,000 | 0 | 0 | 0 | -711,172,000 |
Net proceeds from sale of subsidiary shares to noncontrolling interest | ' | ' | 0 | 0 | 48,369,000 |
Proceeds from initial public offering, net | 524,081,000 | 0 | ' | ' | ' |
Other financing activities | -29,036,000 | -55,918,000 | -53,926,000 | -12,785,000 | -24,562,000 |
Change in intercompany, net | 0 | 0 | 0 | 0 | ' |
Net cash (used in) provided by financing activities | 296,884,000 | 91,226,000 | -336,269,000 | -286,827,000 | 112,000,000 |
Increase (Decrease) in cash and cash equivalents | 28,186,000 | -17,033,000 | -25,750,000 | -76,642,000 | 52,461,000 |
Cash and cash equivalents, beginning of period | 110,998,000 | 136,748,000 | 136,748,000 | 213,390,000 | 160,929,000 |
Cash and cash equivalents, end of period | 139,184,000 | 119,715,000 | 110,998,000 | 136,748,000 | 213,390,000 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' | 136,748,000 | ' |
ARAMARK Holdings Corporation | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | -3,400,000 | 609,400,000 | 599,900,000 | 0 | 131,900,000 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | 0 | 0 | 0 | 0 | 0 |
Disposals of property and equipment | 0 | 0 | 0 | 0 | 0 |
Proceeds from divestiture | 0 | 0 | 0 | 0 | 0 |
Acquisitions of businesses, net of cash acquired | 0 | 0 | 0 | 0 | 0 |
Other investing activities | 0 | 0 | 0 | 0 | 0 |
Net cash used in investing activities | 0 | 0 | 0 | 0 | 0 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 0 | 0 | 0 | 0 | 594,000,000 |
Payments of long-term borrowings | 0 | -600,000,000 | -600,000,000 | 0 | 0 |
Net change in funding under the Receivables Facility | 0 | 0 | 0 | 0 | 0 |
Distribution in connection with spin-off of Seamless | ' | 0 | 0 | ' | ' |
Proceeds from issuance of common stock | 0 | 0 | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | 0 | 0 | 0 |
Payment of dividends | 0 | ' | ' | ' | -711,200,000 |
Net proceeds from sale of subsidiary shares to noncontrolling interest | ' | ' | ' | ' | 0 |
Proceeds from initial public offering, net | 524,100,000 | ' | ' | ' | ' |
Other financing activities | 0 | -9,400,000 | 0 | 0 | -14,600,000 |
Change in intercompany, net | -520,700,000 | 0 | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | 3,400,000 | -609,400,000 | -600,000,000 | 0 | -131,800,000 |
Increase (Decrease) in cash and cash equivalents | 0 | 0 | -100,000 | 0 | 100,000 |
Cash and cash equivalents, beginning of period | 0 | 100,000 | 100,000 | 100,000 | 0 |
Cash and cash equivalents, end of period | 0 | 100,000 | 0 | 100,000 | 100,000 |
ARAMARK Holdings Corporation | Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' | 100,000 | ' |
ARAMARK Corporation | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | 56,600,000 | 22,800,000 | 97,700,000 | 62,200,000 | 38,200,000 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | -9,000,000 | -5,200,000 | -14,300,000 | -11,700,000 | -9,500,000 |
Disposals of property and equipment | 7,800,000 | 0 | 0 | 700,000 | 1,000,000 |
Proceeds from divestiture | 0 | 0 | 0 | 0 | 0 |
Acquisitions of businesses, net of cash acquired | 0 | 0 | 0 | 0 | 0 |
Other investing activities | 100,000 | 3,100,000 | -1,400,000 | 1,300,000 | 700,000 |
Net cash used in investing activities | -1,100,000 | -2,100,000 | -15,700,000 | -9,700,000 | -7,800,000 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 1,430,700,000 | 3,168,300,000 | 3,071,400,000 | 0 | 0 |
Payments of long-term borrowings | -1,824,400,000 | -2,255,800,000 | -2,521,200,000 | -250,700,000 | -5,700,000 |
Net change in funding under the Receivables Facility | 0 | 0 | 0 | 0 | 0 |
Distribution in connection with spin-off of Seamless | ' | -47,400,000 | -47,400,000 | ' | ' |
Proceeds from issuance of common stock | 3,400,000 | 4,400,000 | 5,600,000 | 11,300,000 | 4,600,000 |
Repurchase of common stock | -1,500,000 | -33,200,000 | -42,400,000 | -37,700,000 | -16,100,000 |
Payment of dividends | -17,300,000 | ' | ' | ' | -132,900,000 |
Net proceeds from sale of subsidiary shares to noncontrolling interest | ' | ' | ' | ' | 48,400,000 |
Proceeds from initial public offering, net | 0 | ' | ' | ' | ' |
Other financing activities | -23,900,000 | -44,900,000 | -50,300,000 | -6,100,000 | -6,600,000 |
Change in intercompany, net | 384,600,000 | -814,400,000 | -502,100,000 | 120,700,000 | 135,900,000 |
Net cash (used in) provided by financing activities | -48,400,000 | -23,000,000 | -86,400,000 | -162,500,000 | 27,600,000 |
Increase (Decrease) in cash and cash equivalents | 7,100,000 | -2,300,000 | -4,400,000 | -110,000,000 | 58,000,000 |
Cash and cash equivalents, beginning of period | 23,000,000 | 27,400,000 | 27,400,000 | 137,400,000 | 79,400,000 |
Cash and cash equivalents, end of period | 30,100,000 | 25,100,000 | 23,000,000 | 27,400,000 | 137,400,000 |
ARAMARK Corporation | Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' | 27,400,000 | ' |
Guarantors | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | -143,700,000 | 48,700,000 | 585,500,000 | 532,500,000 | 456,000,000 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | -134,500,000 | -130,500,000 | -292,400,000 | -262,000,000 | -206,300,000 |
Disposals of property and equipment | 2,200,000 | 2,300,000 | 5,400,000 | 5,200,000 | 10,000,000 |
Proceeds from divestiture | 24,000,000 | 900,000 | 900,000 | 6,500,000 | 71,500,000 |
Acquisitions of businesses, net of cash acquired | -5,200,000 | -22,500,000 | -22,600,000 | -139,900,000 | -157,000,000 |
Other investing activities | 6,800,000 | 26,800,000 | 27,400,000 | 3,600,000 | -13,700,000 |
Net cash used in investing activities | -106,700,000 | -123,000,000 | -281,300,000 | -386,600,000 | -295,500,000 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 0 | 0 | 0 | 200,000 | 200,000 |
Payments of long-term borrowings | -6,800,000 | -6,800,000 | -13,700,000 | -12,900,000 | -13,500,000 |
Net change in funding under the Receivables Facility | 0 | 0 | 0 | 0 | 0 |
Distribution in connection with spin-off of Seamless | ' | 0 | 0 | ' | ' |
Proceeds from issuance of common stock | 0 | 0 | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | 0 | 0 | 0 |
Payment of dividends | 0 | ' | ' | ' | 0 |
Net proceeds from sale of subsidiary shares to noncontrolling interest | ' | ' | ' | ' | 0 |
Proceeds from initial public offering, net | 0 | ' | ' | ' | ' |
Other financing activities | -1,900,000 | -1,200,000 | -2,700,000 | -3,800,000 | -3,100,000 |
Change in intercompany, net | 262,400,000 | 79,900,000 | -289,000,000 | -119,400,000 | -146,200,000 |
Net cash (used in) provided by financing activities | 253,700,000 | 71,900,000 | -305,400,000 | -135,900,000 | -162,600,000 |
Increase (Decrease) in cash and cash equivalents | 3,300,000 | -2,400,000 | -1,200,000 | 10,000,000 | -2,100,000 |
Cash and cash equivalents, beginning of period | 40,500,000 | 41,700,000 | 41,700,000 | 31,700,000 | 33,800,000 |
Cash and cash equivalents, end of period | 43,800,000 | 39,300,000 | 40,500,000 | 41,700,000 | 31,700,000 |
Guarantors | Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' | 41,700,000 | ' |
Non-Guarantors | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | -33,700,000 | 13,300,000 | 64,000,000 | 178,700,000 | -115,900,000 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | -28,700,000 | -31,500,000 | -86,200,000 | -80,900,000 | -77,900,000 |
Disposals of property and equipment | 2,600,000 | 4,200,000 | 5,900,000 | 5,800,000 | 10,500,000 |
Proceeds from divestiture | 0 | 0 | 0 | 0 | 11,600,000 |
Acquisitions of businesses, net of cash acquired | -5,600,000 | 0 | 0 | -11,900,000 | 0 |
Other investing activities | -1,800,000 | -6,900,000 | -8,100,000 | 1,700,000 | -4,000,000 |
Net cash used in investing activities | -33,500,000 | -34,200,000 | -88,400,000 | -85,300,000 | -59,800,000 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 303,600,000 | 62,400,000 | 9,100,000 | 3,200,000 | 22,000,000 |
Payments of long-term borrowings | -85,900,000 | -181,000,000 | -180,000,000 | -25,300,000 | -12,000,000 |
Net change in funding under the Receivables Facility | 0 | 36,200,000 | 36,200,000 | 37,900,000 | 225,900,000 |
Distribution in connection with spin-off of Seamless | ' | 0 | 0 | ' | ' |
Proceeds from issuance of common stock | 0 | 0 | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | 0 | 0 | 0 |
Payment of dividends | 0 | ' | ' | ' | -73,700,000 |
Net proceeds from sale of subsidiary shares to noncontrolling interest | ' | ' | ' | ' | 0 |
Proceeds from initial public offering, net | 0 | ' | ' | ' | ' |
Other financing activities | -3,200,000 | -400,000 | -900,000 | -2,800,000 | -300,000 |
Change in intercompany, net | -129,500,000 | 91,400,000 | 139,900,000 | -83,000,000 | 10,300,000 |
Net cash (used in) provided by financing activities | 85,000,000 | 8,600,000 | 4,300,000 | -70,000,000 | 172,200,000 |
Increase (Decrease) in cash and cash equivalents | 17,800,000 | -12,300,000 | -20,100,000 | 23,400,000 | -3,500,000 |
Cash and cash equivalents, beginning of period | 47,500,000 | 67,600,000 | 67,600,000 | 44,200,000 | 47,700,000 |
Cash and cash equivalents, end of period | 65,300,000 | 55,200,000 | 47,500,000 | 67,600,000 | 44,200,000 |
Non-Guarantors | Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' | 67,500,000 | ' |
Eliminations | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash (used in) provided by operating activities | -3,200,000 | -643,100,000 | -651,200,000 | -81,700,000 | -206,600,000 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Purchases of property and equipment, client contract investments and other | 0 | 0 | 0 | 0 | 0 |
Disposals of property and equipment | 0 | 0 | 0 | 0 | 0 |
Proceeds from divestiture | 0 | 0 | 0 | 0 | ' |
Acquisitions of businesses, net of cash acquired | 0 | 0 | 0 | 0 | 0 |
Other investing activities | 0 | 0 | 0 | 0 | 0 |
Net cash used in investing activities | 0 | 0 | 0 | 0 | 0 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Proceeds from long-term borrowings | 0 | 0 | 0 | 0 | 0 |
Payments of long-term borrowings | 0 | 0 | 0 | 0 | 0 |
Net change in funding under the Receivables Facility | 0 | 0 | 0 | 0 | ' |
Distribution in connection with spin-off of Seamless | ' | 0 | 0 | ' | ' |
Proceeds from issuance of common stock | 0 | 0 | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | 0 | 0 | 0 |
Payment of dividends | 0 | ' | ' | ' | 206,600,000 |
Proceeds from initial public offering, net | 0 | ' | ' | ' | ' |
Other financing activities | 0 | 0 | 0 | 0 | 0 |
Change in intercompany, net | 3,200,000 | 643,100,000 | 651,200,000 | 81,700,000 | 0 |
Net cash (used in) provided by financing activities | 3,200,000 | 643,100,000 | 651,200,000 | 81,700,000 | 206,600,000 |
Increase (Decrease) in cash and cash equivalents | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | 0 | 0 | 0 |
Eliminations | Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' | $0 | ' |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts and Reserves (Detail) (Reserve for Doubtful Accounts, Advances and Current Notes Receivable, USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |||
Reserve for Doubtful Accounts, Advances and Current Notes Receivable | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance, Beginning of Period | $41,212 | $32,963 | $36,886 | |||
Additions, Charged to Income | 11,297 | 26,718 | 10,298 | |||
Reductions, Deductions from Reserves | 17,833 | [1] | 18,469 | [1] | 14,221 | [1] |
Balance, End of Period | $34,676 | $41,212 | $32,963 | |||
[1] | Amounts determined not to be collectible and charged against the reserve and translation. |
Basis_Of_Presentation_Detail
Basis Of Presentation (Detail) (USD $) | Mar. 28, 2014 | Sep. 27, 2013 | Sep. 28, 2012 | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Dec. 12, 2013 |
In Millions, except Share data, unless otherwise specified | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | Van Houtte USA Holdings Inc [Member] | IPO [Member] | |||
Basis of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Issued | 250,120,845 | 219,585,247 | 216,050,523 | ' | ' | ' | ' | ' | ' | 28,000,000 |
Share Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 |
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | ' | ' | ' | $10.20 | ' | $10.20 | ' | $10.20 | $10.40 | ' |
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | ' | ' | ' | 0.2 | 0.2 | 0.4 | 0.4 | 0.8 | 1.1 | ' |
Distributions to redeemable noncontrolling interest | ' | ' | ' | ' | ' | $0.40 | $0.40 | $0.90 | $0.90 | ' |
Recovered_Sheet15
Supplemental Financial Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Interest Paid | ' | ' | $192,700,000 | $237,500,000 | $350,600,000 | $422,500,000 | $386,400,000 |
Income taxes paid | ' | ' | 43,600,000 | 52,400,000 | 74,800,000 | 82,500,000 | 64,900,000 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Pension Plan Adjustment, net of Tax | -30,800,000 | ' | -30,800,000 | ' | -30,523,000 | -50,268,000 | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 2,300,000 | ' | 2,300,000 | ' | 3,287,000 | 20,429,000 | ' |
Accumulated Other Comprehensive Income (Loss), Cash Flow Hedges, Net of Tax | -22,300,000 | ' | -22,300,000 | ' | -23,994,000 | -33,106,000 | ' |
Accumulated Other Comprehensive Income (Loss), Share of Equity Method Investee, Net of Tax | -8,000,000 | ' | -8,000,000 | ' | -7,995,000 | -10,800,000 | ' |
Other Comprehensive Income (Loss), Tax [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Translation Adjustment, net of tax | 1,430,000 | 2,707,000 | 4,027,000 | 7,021,000 | 13,690,000 | 2,684,000 | -5,515,000 |
Cash flow hedges, net of tax | 1,654,000 | -1,690,000 | -1,343,000 | -5,536,000 | -5,776,000 | -22,197,000 | -36,050,000 |
Pension Plan Adjustments, net of tax | $82,000 | $294,000 | $166,000 | $611,000 | ($10,198,000) | $8,646,000 | $2,207,000 |
Equity_Investments_Detail
Equity Investments (Detail) (AIM Services Co., Ltd, USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 | |
AIM Services Co., Ltd | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Ownership interest in AIM Services Co., Ltd. | 50.00% | ' | 50.00% | ' | 50.00% | ' | ' |
Equity method investments | $184,600,000 | ' | $184,600,000 | ' | $190,700,000 | $233,400,000 | ' |
Sales | 366,242,000 | 414,571,000 | 765,343,000 | 895,472,000 | 1,693,598,000 | 1,916,620,000 | 1,772,143,000 |
Gross profit | 39,543,000 | 45,665,000 | 85,564,000 | 102,405,000 | 192,857,000 | 222,033,000 | 222,970,000 |
Net income | 5,589,000 | 5,978,000 | 13,332,000 | 15,380,000 | 29,236,000 | 39,174,000 | 41,949,000 |
Equity in undistributed earnings net of amortization to purchase accounting | $2,200,000 | $1,300,000 | $5,400,000 | $5,200,000 | $11,500,000 | $14,700,000 | $18,000,000 |
Earnings_Per_Share_Detail
Earnings Per Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Mar. 28, 2014 | Mar. 29, 2013 | Mar. 28, 2014 | Mar. 29, 2013 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 30, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to ARAMARK Holdings stockholders | $12,916 | ($40,104) | $57,678 | $2,710 | $69,356 | $103,551 | $83,846 |
Basic weighted-averages shares outstanding | 230,693,000 | 201,468,000 | 218,653,000 | 201,728,000 | 201,916,000 | 203,211,000 | 203,525,000 |
Dilutive Securities, Effect on Basic Earnings Per Share | 12,683,000 | ' | 10,757,000 | 7,113,000 | 7,454,000 | 6,496,000 | 6,474,000 |
Weighted Average Number Diluted Shares Outstanding | 243,376,000 | 201,468,000 | 229,410,000 | 208,841,000 | 209,370,000 | 209,707,000 | 209,999,000 |
Earnings Per Share, Basic | $0.06 | ($0.20) | $0.26 | $0.01 | $0.34 | $0.51 | $0.41 |
Earnings Per Share, Diluted | $0.05 | ($0.20) | $0.25 | $0.01 | $0.33 | $0.49 | $0.40 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | 8,800,000 | 3,700,000 | 6,400,000 | ' | ' | ' |
Antidilutive Securities [Member] | Performance-Based Options [Member] | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,300,000 | 10,000,000 | 3,900,000 | 10,300,000 | ' | ' | ' |