Attached files
file | filename |
---|---|
8-K - 8-K - Johnson Controls International plc | a10-22864_18k.htm |
Exhibit 99.1
TYCO INTERNATIONAL LTD.
CONSOLIDATED SEGMENT RESULTS (UNAUDITED)
|
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For the Quarters Ended |
|
For the Years Ended |
| |||||||||||||||||||||||||||||
|
|
September 24, |
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June 25, |
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March 26, |
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December 25, |
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September 25, |
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June 26, |
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March 27, |
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December 26, |
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September 24, |
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September 25, |
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September 26, |
| |||||||||||
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2010 |
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2010 |
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2010 |
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2009 |
|
2009 |
|
2009 |
|
2009 |
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2008 |
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2010 |
|
2009 |
|
2008 |
| |||||||||||
Net revenue: |
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|
|
|
|
|
|
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|
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| |||||||||||
Tyco Security Solutions |
|
$ |
2,047 |
|
$ |
1,921 |
|
$ |
1,852 |
|
$ |
1,914 |
|
$ |
1,886 |
|
$ |
1,819 |
|
$ |
1,781 |
|
$ |
1,889 |
|
$ |
7,734 |
|
$ |
7,375 |
|
$ |
8,188 |
|
Tyco Flow Control |
|
868 |
|
849 |
|
824 |
|
832 |
|
911 |
|
866 |
|
845 |
|
873 |
|
3,373 |
|
3,495 |
|
3,952 |
| |||||||||||
Tyco Fire Protection |
|
1,202 |
|
1,114 |
|
1,082 |
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1,112 |
|
1,199 |
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1,147 |
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1,112 |
|
1,162 |
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4,510 |
|
4,620 |
|
5,316 |
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Electrical and Metal Products |
|
376 |
|
390 |
|
336 |
|
297 |
|
326 |
|
320 |
|
330 |
|
416 |
|
1,399 |
|
1,392 |
|
2,272 |
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Corporate and Other |
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5 |
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Total |
|
$ |
4,493 |
|
$ |
4,274 |
|
$ |
4,094 |
|
$ |
4,155 |
|
$ |
4,322 |
|
$ |
4,152 |
|
$ |
4,068 |
|
$ |
4,340 |
|
$ |
17,016 |
|
$ |
16,882 |
|
$ |
19,733 |
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Operating income (loss): |
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Tyco Security Solutions |
|
$ |
280 |
|
$ |
232 |
|
$ |
313 |
|
$ |
268 |
|
$ |
218 |
|
$ |
229 |
|
$ |
(1,201 |
) |
$ |
243 |
|
$ |
1,093 |
|
$ |
(511 |
) |
$ |
931 |
|
Tyco Flow Control |
|
104 |
|
113 |
|
91 |
|
102 |
|
120 |
|
115 |
|
128 |
|
133 |
|
410 |
|
496 |
|
574 |
| |||||||||||
Tyco Fire Protection |
|
113 |
|
133 |
|
102 |
|
109 |
|
114 |
|
104 |
|
(323 |
) |
122 |
|
457 |
|
17 |
|
556 |
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Electrical and Metal Products |
|
13 |
|
40 |
|
24 |
|
23 |
|
12 |
|
(16 |
) |
(961 |
) |
27 |
|
100 |
|
(938 |
) |
342 |
| |||||||||||
Corporate and Other |
|
(117 |
) |
(143 |
) |
(105 |
) |
(97 |
) |
(155 |
) |
(98 |
) |
(202 |
) |
(115 |
) |
(462 |
) |
(570 |
) |
(507 |
) | |||||||||||
Total |
|
$ |
393 |
|
$ |
375 |
|
$ |
425 |
|
$ |
405 |
|
$ |
309 |
|
$ |
334 |
|
$ |
(2,559 |
) |
$ |
410 |
|
$ |
1,598 |
|
$ |
(1,506 |
) |
$ |
1,896 |
|
Tyco International Ltd.
For the Quarter Ended December 25, 2009
(in millions, except per share data)
(Unaudited)
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Tyco |
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Tyco |
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Tyco |
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Electrical |
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Security |
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Flow |
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Fire |
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Safety |
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Corporate |
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& Metal |
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Solutions |
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Control |
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Protection |
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Products |
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and Other |
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Products |
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Revenue |
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Previously Reported Revenue (GAAP) |
|
$ |
1,835 |
|
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|
$ |
832 |
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|
$ |
833 |
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|
$ |
358 |
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$ |
297 |
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$ |
4,155 |
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Segment Realignment |
|
79 |
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|
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|
279 |
|
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|
(358 |
) |
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Recasted Revenue (GAAP) |
|
$ |
1,914 |
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|
|
$ |
832 |
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|
|
$ |
1,112 |
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$ |
297 |
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$ |
4,155 |
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Income |
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Diluted |
| |||||||||||||
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from |
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EPS from |
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Continuing |
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Continuing |
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Operating Income |
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Operations |
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Operations |
| |||||||||||||||||||||||||||||||||||
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Tyco |
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Tyco |
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Tyco |
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Electrical |
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Total |
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Attributable |
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Attributable |
| |||||||||||||
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Security |
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Flow |
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Fire |
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Safety |
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Corporate |
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& Metal |
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Operating |
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Interest |
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Other |
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Income |
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Noncontrolling |
|
to Tyco |
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to Tyco |
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Solutions |
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Margin |
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Control |
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Margin |
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Protection |
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Margin |
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Products |
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Margin |
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and Other |
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Margin |
|
Products |
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Margin |
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Income |
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Margin |
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Expense, net |
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Income, net |
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Taxes |
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Interest |
|
Shareholders |
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Shareholders |
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As Previously Reported (GAAP) |
|
$ |
259 |
|
14.1 |
% |
$ |
102 |
|
12.3 |
% |
$ |
64 |
|
7.7 |
% |
$ |
54 |
|
15.1 |
% |
$ |
(97 |
) |
N/M |
|
$ |
23 |
|
7.7 |
% |
$ |
405 |
|
9.7 |
% |
$ |
(66 |
) |
$ |
9 |
|
$ |
(51 |
) |
$ |
(1 |
) |
$ |
296 |
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$ |
0.62 |
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Segment Realignment |
|
9 |
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45 |
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(54 |
) |
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Recasted (GAAP) |
|
$ |
268 |
|
14.0 |
% |
$ |
102 |
|
12.3 |
% |
$ |
109 |
|
9.8 |
% |
|
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|
$ |
(97 |
) |
N/M |
|
$ |
23 |
|
7.7 |
% |
$ |
405 |
|
9.7 |
% |
$ |
(66 |
) |
$ |
9 |
|
$ |
(51 |
) |
$ |
(1 |
) |
$ |
296 |
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$ |
0.62 |
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Restructuring, net |
|
5 |
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6 |
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(1 |
) |
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10 |
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(3 |
) |
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7 |
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0.02 |
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Restructuring charges in cost of sales and SG&A |
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1 |
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1 |
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1 |
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(Gains) / losses on divestitures, net |
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(1 |
) |
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2 |
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1 |
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1 |
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2 |
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Total Before Special Items |
|
$ |
273 |
|
14.3 |
% |
$ |
108 |
|
13.0 |
% |
$ |
108 |
|
9.7 |
% |
|
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|
$ |
(95 |
) |
N/M |
|
$ |
23 |
|
7.7 |
% |
$ |
417 |
|
10.0 |
% |
$ |
(66 |
) |
$ |
9 |
|
$ |
(53 |
) |
$ |
(1 |
) |
$ |
306 |
|
$ |
0.64 |
| |
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Diluted Shares Outstanding |
|
479 |
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Diluted Shares Outstanding - Before Special Items |
|
479 |
|
Tyco International Ltd.
For the Quarter Ended March 26, 2010
(in millions, except per share data)
(Unaudited)
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Tyco |
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Tyco |
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Tyco |
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Electrical |
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| |||||||||||||
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Security |
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Flow |
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Fire |
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Safety |
|
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Corporate |
|
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& Metal |
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| |||||||||||||
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Solutions |
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Control |
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Protection |
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|
Products |
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and Other |
|
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|
Products |
|
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|
Revenue |
|
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|
| |||||||||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,767 |
|
|
|
$ |
824 |
|
|
|
$ |
807 |
|
|
|
$ |
360 |
|
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$ |
336 |
|
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$ |
4,094 |
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| |||||||||||||
Segment Realignment |
|
85 |
|
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|
275 |
|
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|
(360 |
) |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted Revenue (GAAP) |
|
$ |
1,852 |
|
|
|
$ |
824 |
|
|
|
$ |
1,082 |
|
|
|
|
|
|
|
|
|
|
|
$ |
336 |
|
|
|
$ |
4,094 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
305 |
|
17.3 |
% |
$ |
91 |
|
11.0 |
% |
$ |
62 |
|
7.7 |
% |
$ |
47 |
|
13.1 |
% |
$ |
(104 |
) |
N/M |
|
$ |
24 |
|
7.1 |
% |
$ |
425 |
|
10.4 |
% |
$ |
(67 |
) |
$ |
3 |
|
$ |
(53 |
) |
$ |
(2 |
) |
$ |
306 |
|
$ |
0.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
7 |
|
|
|
|
|
|
|
41 |
|
|
|
(47 |
) |
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
312 |
|
16.8 |
% |
$ |
91 |
|
11.0 |
% |
$ |
103 |
|
9.5 |
% |
|
|
|
|
$ |
(105 |
) |
N/M |
|
$ |
24 |
|
7.1 |
% |
$ |
425 |
|
10.4 |
% |
$ |
(67 |
) |
$ |
3 |
|
$ |
(53 |
) |
$ |
(2 |
) |
$ |
306 |
|
$ |
0.64 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
5 |
|
|
|
5 |
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
|
17 |
|
|
|
|
|
|
|
(7 |
) |
|
|
10 |
|
0.02 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other additional charges resulting from restructuring actions |
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Acquisition costs |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
4 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
(Gains) / losses on divestitures, net |
|
(51 |
) |
|
|
(1 |
) |
|
|
3 |
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
(45 |
) |
|
|
|
|
|
|
(4 |
) |
|
|
(49 |
) |
(0.10 |
) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Tax items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5 |
|
|
|
5 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
267 |
|
14.4 |
% |
$ |
97 |
|
11.8 |
% |
$ |
111 |
|
10.3 |
% |
|
|
|
|
$ |
(98 |
) |
N/M |
|
$ |
26 |
|
7.7 |
% |
$ |
403 |
|
9.8 |
% |
$ |
(67 |
) |
$ |
3 |
|
$ |
(59 |
) |
$ |
(2 |
) |
$ |
278 |
|
$ |
0.58 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
478 |
|
Tyco International Ltd.
For the Quarter Ended June 25, 2010
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,824 |
|
|
|
$ |
849 |
|
|
|
$ |
822 |
|
|
|
$ |
389 |
|
|
|
|
|
|
|
$ |
390 |
|
|
|
$ |
4,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
97 |
|
|
|
|
|
|
|
292 |
|
|
|
(389 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Recasted Revenue (GAAP) |
|
$ |
1,921 |
|
|
|
$ |
849 |
|
|
|
$ |
1,114 |
|
|
|
|
|
|
|
|
|
|
|
$ |
390 |
|
|
|
$ |
4,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
222 |
|
12.2 |
% |
$ |
113 |
|
13.3 |
% |
$ |
80 |
|
9.7 |
% |
$ |
63 |
|
16.2 |
% |
$ |
(143 |
) |
N/M |
|
$ |
40 |
|
10.3 |
% |
$ |
375 |
|
8.8 |
% |
$ |
(64 |
) |
$ |
(85 |
) |
$ |
26 |
|
$ |
(2 |
) |
$ |
250 |
|
$ |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
9 |
|
|
|
|
|
|
|
54 |
|
|
|
(63 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
231 |
|
12.0 |
% |
$ |
113 |
|
13.3 |
% |
$ |
134 |
|
12.0 |
% |
|
|
|
|
$ |
(143 |
) |
N/M |
|
$ |
40 |
|
10.3 |
% |
$ |
375 |
|
8.8 |
% |
$ |
(64 |
) |
$ |
(85 |
) |
$ |
26 |
|
$ |
(2 |
) |
$ |
250 |
|
$ |
0.50 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
27 |
|
|
|
6 |
|
|
|
6 |
|
|
|
|
|
|
|
1 |
|
|
|
2 |
|
|
|
42 |
|
|
|
|
|
|
|
(14 |
) |
|
|
28 |
|
0.06 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Acquisition costs |
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24 |
|
|
|
|
|
|
|
(9 |
) |
|
|
15 |
|
0.03 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
(Gains) / losses on divestitures, net |
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2 |
) |
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Separation Costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
|
|
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Loss on extinguishment of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
87 |
|
(25 |
) |
|
|
62 |
|
0.13 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
285 |
|
14.8 |
% |
$ |
119 |
|
14.0 |
% |
$ |
140 |
|
12.6 |
% |
|
|
|
|
$ |
(142 |
) |
N/M |
|
$ |
41 |
|
10.5 |
% |
$ |
443 |
|
10.4 |
% |
$ |
(64 |
) |
$ |
2 |
|
$ |
(22 |
) |
$ |
(2 |
) |
$ |
357 |
|
$ |
0.72 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
496 |
| |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
496 |
| |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco International Ltd.
For the Quarter Ended September 24, 2010
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,950 |
|
|
|
$ |
868 |
|
|
|
$ |
893 |
|
|
|
$ |
406 |
|
|
|
|
|
|
|
$ |
376 |
|
|
|
$ |
4,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
97 |
|
|
|
|
|
|
|
309 |
|
|
|
(406 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Revenue (GAAP) |
|
$ |
2,047 |
|
|
|
$ |
868 |
|
|
|
$ |
1,202 |
|
|
|
|
|
|
|
|
|
|
|
$ |
376 |
|
|
|
$ |
4,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
270 |
|
13.8 |
% |
$ |
104 |
|
12.0 |
% |
$ |
66 |
|
7.4 |
% |
$ |
57 |
|
14.0 |
% |
$ |
(117 |
) |
N/M |
|
$ |
13 |
|
3.5 |
% |
$ |
393 |
|
8.7 |
% |
$ |
(56 |
) |
$ |
(2 |
) |
$ |
(60 |
) |
$ |
(2 |
) |
$ |
273 |
|
$ |
0.55 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
9 |
|
|
|
|
|
|
|
48 |
|
|
|
(57 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
279 |
|
13.6 |
% |
$ |
104 |
|
12.0 |
% |
$ |
114 |
|
9.5 |
% |
|
|
|
|
$ |
(117 |
) |
N/M |
|
$ |
13 |
|
3.5 |
% |
$ |
393 |
|
8.7 |
% |
$ |
(56 |
) |
$ |
(2 |
) |
$ |
(60 |
) |
$ |
(2 |
) |
$ |
273 |
|
$ |
0.55 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
25 |
|
|
|
8 |
|
|
|
30 |
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
|
65 |
|
|
|
|
|
|
|
(18 |
) |
|
|
47 |
|
0.10 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
|
|
|
|
(1 |
) |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
8 |
|
|
|
8 |
|
|
|
|
|
|
|
(3 |
) |
|
|
5 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
ERISA insurance recovery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
|
|
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Acquisition costs |
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7 |
|
|
|
|
|
|
|
(2 |
) |
|
|
5 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Asset impairments and (gains) / losses on divestitures, net |
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
5 |
|
|
|
|
|
|
|
(1 |
) |
|
|
4 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Separation Costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
|
|
|
|
|
|
8 |
|
|
|
|
|
|
|
(1 |
) |
|
|
7 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Tax items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27 |
|
|
|
27 |
|
0.05 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
315 |
|
15.4 |
% |
$ |
111 |
|
12.8 |
% |
$ |
145 |
|
12.1 |
% |
|
|
|
|
$ |
(110 |
) |
N/M |
|
$ |
24 |
|
6.4 |
% |
$ |
485 |
|
10.8 |
% |
$ |
(56 |
) |
$ |
(2 |
) |
$ |
(58 |
) |
$ |
(2 |
) |
$ |
367 |
|
$ |
0.74 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
500 |
|
Tyco International Ltd.
For the Twelve Months Ended September 24, 2010
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
7,376 |
|
|
|
$ |
3,373 |
|
|
|
$ |
3,355 |
|
|
|
$ |
1,513 |
|
|
|
|
|
|
|
$ |
1,399 |
|
|
|
$ |
17,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
358 |
|
|
|
|
|
|
|
1,155 |
|
|
|
(1,513 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Recasted (GAAP) |
|
$ |
7,734 |
|
|
|
$ |
3,373 |
|
|
|
$ |
4,510 |
|
|
|
|
|
|
|
|
|
|
|
$ |
1,399 |
|
|
|
$ |
17,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
1,056 |
|
14.3 |
% |
$ |
410 |
|
12.2 |
% |
$ |
272 |
|
8.1 |
% |
$ |
221 |
|
14.6 |
% |
$ |
(461 |
) |
N/M |
|
$ |
100 |
|
7.1 |
% |
$ |
1,598 |
|
9.4 |
% |
$ |
(253 |
) |
$ |
(75 |
) |
$ |
(138 |
) |
$ |
(7 |
) |
$ |
1,125 |
|
$ |
2.31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
34 |
|
|
|
|
|
|
|
188 |
|
|
|
(221 |
) |
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
1,090 |
|
14.1 |
% |
$ |
410 |
|
12.2 |
% |
$ |
460 |
|
10.2 |
% |
|
|
|
|
$ |
(462 |
) |
N/M |
|
$ |
100 |
|
7.1 |
% |
$ |
1,598 |
|
9.4 |
% |
$ |
(253 |
) |
$ |
(75 |
) |
$ |
(138 |
) |
$ |
(7 |
) |
$ |
1,125 |
|
$ |
2.31 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
62 |
|
|
|
25 |
|
|
|
40 |
|
|
|
|
|
|
|
1 |
|
|
|
6 |
|
|
|
134 |
|
|
|
|
|
|
|
(42 |
) |
|
|
92 |
|
0.19 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
|
|
|
|
|
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
7 |
|
|
|
9 |
|
|
|
|
|
|
|
(3 |
) |
|
|
6 |
|
0.01 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other additional charges resulting from restructuring actions |
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
ERISA insurance recovery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
|
|
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Acquisition costs |
|
32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
35 |
|
|
|
|
|
|
|
(11 |
) |
|
|
24 |
|
0.05 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Asset impairments and (gains) / losses on divestitures, net |
|
(44 |
) |
|
|
(1 |
) |
|
|
2 |
|
|
|
|
|
|
|
4 |
|
|
|
1 |
|
|
|
(38 |
) |
|
|
|
|
|
|
(4 |
) |
|
|
(42 |
) |
(0.09 |
) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Separation Costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
|
|
|
|
|
|
|
10 |
|
|
|
|
|
|
|
(1 |
) |
|
|
9 |
|
0.02 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Loss on extinguishment of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
87 |
|
(25 |
) |
|
|
62 |
|
0.13 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Tax items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32 |
|
|
|
32 |
|
0.06 |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
1,140 |
|
14.7 |
% |
$ |
435 |
|
12.9 |
% |
$ |
504 |
|
11.2 |
% |
|
|
|
|
$ |
(445 |
) |
N/M |
|
$ |
114 |
|
8.1 |
% |
$ |
1,748 |
|
10.3 |
% |
$ |
(253 |
) |
$ |
12 |
|
$ |
(192 |
) |
$ |
(7 |
) |
$ |
1,308 |
|
$ |
2.68 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
488 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
488 |
|
Tyco International Ltd.
For the Quarter Ended December 26, 2008
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,811 |
|
|
|
$ |
873 |
|
|
|
$ |
839 |
|
|
|
$ |
401 |
|
|
|
|
|
|
|
$ |
416 |
|
|
|
$ |
4,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
78 |
|
|
|
|
|
|
|
323 |
|
|
|
(401 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Recasted Revenue (GAAP) |
|
$ |
1,889 |
|
|
|
$ |
873 |
|
|
|
$ |
1,162 |
|
|
|
|
|
|
|
|
|
|
|
$ |
416 |
|
|
|
$ |
4,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
227 |
|
12.5 |
% |
$ |
133 |
|
15.2 |
% |
$ |
56 |
|
6.7 |
% |
$ |
80 |
|
20.0 |
% |
$ |
(113 |
) |
N/M |
|
$ |
27 |
|
6.5 |
% |
$ |
410 |
|
9.4 |
% |
$ |
(61 |
) |
$ |
4 |
|
$ |
(82 |
) |
|
|
$ |
271 |
|
$ |
0.57 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
16 |
|
|
|
|
|
|
|
66 |
|
|
|
(80 |
) |
|
|
(2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
243 |
|
12.9 |
% |
$ |
133 |
|
15.2 |
% |
$ |
122 |
|
10.5 |
% |
|
|
|
|
$ |
(115 |
) |
N/M |
|
$ |
27 |
|
6.5 |
% |
$ |
410 |
|
9.4 |
% |
$ |
(61 |
) |
$ |
4 |
|
$ |
(82 |
) |
|
|
$ |
271 |
|
$ |
0.57 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
(1 |
) |
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
2 |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
4 |
|
|
|
|
|
|
|
(1 |
) |
|
|
3 |
|
$ |
0.01 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
(Gains) / losses on divestitures, net |
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
(1 |
) |
|
|
2 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Tax items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
|
|
6 |
|
$ |
0.01 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Legacy legal items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
|
|
|
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
8 |
|
$ |
0.02 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
244 |
|
12.9 |
% |
$ |
135 |
|
15.5 |
% |
$ |
123 |
|
10.6 |
% |
|
|
|
|
$ |
(105 |
) |
N/M |
|
$ |
29 |
|
7.0 |
% |
$ |
426 |
|
9.8 |
% |
$ |
(61 |
) |
$ |
4 |
|
$ |
(78 |
) |
|
|
$ |
291 |
|
$ |
0.61 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
475 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
475 |
|
Tyco International Ltd.
For the Quarter Ended March 27, 2009
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,705 |
|
|
|
$ |
845 |
|
|
|
$ |
813 |
|
|
|
$ |
375 |
|
|
|
|
|
|
|
$ |
330 |
|
|
|
$ |
4,068 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
76 |
|
|
|
|
|
|
|
299 |
|
|
|
(375 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Recasted Revenue (GAAP) |
|
$ |
1,781 |
|
|
|
$ |
845 |
|
|
|
$ |
1,112 |
|
|
|
|
|
|
|
|
|
|
|
$ |
330 |
|
|
|
$ |
4,068 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
(867 |
) |
N/M |
|
$ |
128 |
|
15.1 |
% |
$ |
(121 |
) |
N/M |
|
$ |
(537 |
) |
N/M |
|
$ |
(201 |
) |
N/M |
|
$ |
(961 |
) |
N/M |
|
$ |
(2,559 |
) |
N/M |
|
$ |
(67 |
) |
$ |
7 |
|
$ |
59 |
|
$ |
(1 |
) |
$ |
(2,561 |
) |
$ |
(5.41 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
(335 |
) |
|
|
|
|
|
|
(201 |
) |
|
|
537 |
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
(1,202 |
) |
N/M |
|
$ |
128 |
|
15.1 |
% |
$ |
(322 |
) |
N/M |
|
|
|
|
|
$ |
(202 |
) |
N/M |
|
$ |
(961 |
) |
N/M |
|
$ |
(2,559 |
) |
N/M |
|
$ |
(67 |
) |
$ |
7 |
|
$ |
59 |
|
$ |
(1 |
) |
$ |
(2,561 |
) |
$ |
(5.41 |
) | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
60 |
|
|
|
4 |
|
|
|
15 |
|
|
|
|
|
|
|
5 |
|
|
|
2 |
|
|
|
86 |
|
|
|
|
|
|
|
(24 |
) |
|
|
62 |
|
$ |
0.13 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
7 |
|
|
|
1 |
|
|
|
5 |
|
|
|
|
|
|
|
1 |
|
|
|
4 |
|
|
|
18 |
|
|
|
|
|
|
|
(7 |
) |
|
|
11 |
|
$ |
0.02 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other additional charges resulting from restructuring actions |
|
|
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
(1 |
) |
|
|
3 |
|
$ |
0.01 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
(Gains) / losses on divestitures, net |
|
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5 |
) |
|
|
(2 |
) |
|
|
|
|
|
|
|
|
|
|
(2 |
) |
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Intangible impairments |
|
64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
64 |
|
|
|
|
|
|
|
(25 |
) |
|
|
39 |
|
$ |
0.09 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Goodwill impairments |
|
1,286 |
|
|
|
|
|
|
|
420 |
|
|
|
|
|
|
|
|
|
|
|
935 |
|
|
|
2,641 |
|
|
|
|
|
|
|
(43 |
) |
|
|
2,598 |
|
$ |
5.47 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Legacy legal items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
101 |
|
|
|
|
|
|
|
101 |
|
|
|
|
|
|
|
4 |
|
|
|
105 |
|
$ |
0.23 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
215 |
|
12.1 |
% |
$ |
136 |
|
16.1 |
% |
$ |
122 |
|
11.0 |
% |
|
|
|
|
$ |
(95 |
) |
N/M |
|
$ |
(25 |
) |
(7.6 |
)% |
$ |
353 |
|
8.7 |
% |
$ |
(67 |
) |
$ |
7 |
|
$ |
(37 |
) |
$ |
(1 |
) |
$ |
255 |
|
$ |
0.54 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
473 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
475 |
|
Tyco International Ltd.
For the Quarter Ended June 26, 2009
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,741 |
|
|
|
$ |
866 |
|
|
|
$ |
855 |
|
|
|
$ |
370 |
|
|
|
|
|
|
|
$ |
320 |
|
|
|
$ |
4,152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Segment Realignment |
|
78 |
|
|
|
|
|
|
|
292 |
|
|
|
(370 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Recasted Revenue (GAAP) |
|
$ |
1,819 |
|
|
|
$ |
866 |
|
|
|
$ |
1,147 |
|
|
|
|
|
|
|
|
|
|
|
$ |
320 |
|
|
|
$ |
4,152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| ||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| ||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| ||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| ||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
As Previously Reported (GAAP) |
|
$ |
220 |
|
12.6 |
% |
$ |
115 |
|
13.3 |
% |
$ |
69 |
|
8.1 |
% |
$ |
43 |
|
11.6 |
% |
$ |
(97 |
) |
N/M |
|
$ |
(16 |
) |
N/M |
|
$ |
334 |
|
8.0 |
% |
$ |
(65 |
) |
|
|
$ |
(24 |
) |
$ |
(1 |
) |
$ |
244 |
|
$ |
0.51 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Segment Realignment |
|
8 |
|
|
|
|
|
|
|
36 |
|
|
|
(43 |
) |
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Recasted (GAAP) |
|
$ |
228 |
|
12.5 |
% |
$ |
115 |
|
13.3 |
% |
$ |
105 |
|
9.2 |
% |
|
|
|
|
$ |
(98 |
) |
N/M |
|
$ |
(16 |
) |
N/M |
|
$ |
334 |
|
8.0 |
% |
$ |
(65 |
) |
|
|
$ |
(24 |
) |
$ |
(1 |
) |
$ |
244 |
|
$ |
0.51 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Restructuring, net |
|
13 |
|
|
|
3 |
|
|
|
5 |
|
|
|
|
|
|
|
2 |
|
|
|
4 |
|
|
|
27 |
|
|
|
|
|
|
|
(8 |
) |
|
|
19 |
|
$ |
0.04 |
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Restructuring charges in cost of sales and SG&A |
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
|
5 |
|
|
|
|
|
|
|
(2 |
) |
|
|
3 |
|
$ |
0.01 |
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Other additional charges resulting from restructuring actions |
|
2 |
|
|
|
4 |
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
10 |
|
|
|
|
|
|
|
(3 |
) |
|
|
7 |
|
$ |
0.01 |
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
(Gains) / losses on divestitures, net |
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
|
|
4 |
|
|
|
|
|
|
|
1 |
|
|
|
5 |
|
$ |
0.01 |
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Total Before Special Items |
|
$ |
246 |
|
13.5 |
% |
$ |
123 |
|
14.2 |
% |
$ |
113 |
|
9.9 |
% |
|
|
|
|
$ |
(96 |
) |
N/M |
|
$ |
(6 |
) |
(1.9 |
)% |
$ |
380 |
|
9.2 |
% |
$ |
(65 |
) |
|
|
$ |
(36 |
) |
$ |
(1 |
) |
$ |
278 |
|
$ |
0.58 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
475 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
475 |
|
Tyco International Ltd.
For the Quarter Ended September 25, 2009
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
1,809 |
|
|
|
$ |
911 |
|
|
|
$ |
903 |
|
|
|
$ |
373 |
|
|
|
|
|
|
|
$ |
326 |
|
|
|
$ |
4,322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
77 |
|
|
|
|
|
|
|
296 |
|
|
|
(373 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Recasted Revenue (GAAP) |
|
$ |
1,886 |
|
|
|
$ |
911 |
|
|
|
$ |
1,199 |
|
|
|
|
|
|
|
|
|
|
|
$ |
326 |
|
|
|
$ |
4,322 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| |||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| |||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| |||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| |||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
As Previously Reported (GAAP) |
|
$ |
218 |
|
12.1 |
% |
$ |
120 |
|
13.2 |
% |
$ |
66 |
|
7.3 |
% |
$ |
47 |
|
12.6 |
% |
$ |
(154 |
) |
N/M |
|
$ |
12 |
|
3.7 |
% |
$ |
309 |
|
7.1 |
% |
$ |
(64 |
) |
$ |
(18 |
) |
$ |
(24 |
) |
$ |
(2 |
) |
$ |
201 |
|
$ |
0.42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Segment Realignment |
|
(1 |
) |
|
|
|
|
|
|
49 |
|
|
|
(47 |
) |
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Recasted (GAAP) |
|
$ |
217 |
|
11.5 |
% |
$ |
120 |
|
13.2 |
% |
$ |
115 |
|
9.6 |
% |
|
|
|
|
$ |
(155 |
) |
N/M |
|
$ |
12 |
|
3.7 |
% |
$ |
309 |
|
7.1 |
% |
$ |
(64 |
) |
$ |
(18 |
) |
$ |
(24 |
) |
$ |
(2 |
) |
$ |
201 |
|
$ |
0.42 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring, net |
|
31 |
|
|
|
10 |
|
|
|
33 |
|
|
|
|
|
|
|
2 |
|
|
|
9 |
|
|
|
85 |
|
|
|
|
|
|
|
(21 |
) |
|
|
64 |
|
$ |
0.14 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Restructuring charges in cost of sales and SG&A |
|
3 |
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
|
|
|
|
|
|
(1 |
) |
|
|
5 |
|
$ |
0.01 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Other additional charges resulting from restructuring actions |
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
(Gains) / losses on divestitures, net |
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
10 |
|
|
|
|
|
|
|
(3 |
) |
|
|
7 |
|
$ |
0.01 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Goodwill impairments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
|
|
|
2 |
|
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Tax items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3 |
) |
|
|
(3 |
) |
|
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Legacy legal items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5 |
|
|
|
|
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
5 |
|
$ |
0.01 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Before Special Items |
|
$ |
257 |
|
13.6 |
% |
$ |
131 |
|
14.4 |
% |
$ |
151 |
|
12.6 |
% |
|
|
|
|
$ |
(144 |
) |
N/M |
|
$ |
21 |
|
6.4 |
% |
$ |
416 |
|
9.6 |
% |
$ |
(64 |
) |
$ |
(18 |
) |
$ |
(50 |
) |
$ |
(2 |
) |
$ |
282 |
|
$ |
0.59 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
476 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
476 |
|
Tyco International Ltd.
For the Twelve Months Ended September 25, 2009
(in millions, except per share data)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
Solutions |
|
|
|
Control |
|
|
|
Protection |
|
|
|
Products |
|
|
|
and Other |
|
|
|
Products |
|
|
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Previously Reported Revenue (GAAP) |
|
$ |
7,066 |
|
|
|
$ |
3,495 |
|
|
|
$ |
3,410 |
|
|
|
$ |
1,519 |
|
|
|
|
|
|
|
$ |
1,392 |
|
|
|
$ |
16,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Segment Realignment |
|
309 |
|
|
|
|
|
|
|
1,210 |
|
|
|
(1,519 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Recasted Revenue (GAAP) |
|
$ |
7,375 |
|
|
|
$ |
3,495 |
|
|
|
$ |
4,620 |
|
|
|
|
|
|
|
|
|
|
|
$ |
1,392 |
|
|
|
$ |
16,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income |
|
Diluted |
| ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
from |
|
EPS from |
| ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing |
|
Continuing |
| ||||||||||||||||
|
|
Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operations |
|
Operations |
| ||||||||||||||||||||||||||||||||||||||
|
|
Tyco |
|
|
|
Tyco |
|
|
|
Tyco |
|
|
|
|
|
|
|
|
|
|
|
Electrical |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
Attributable |
|
Attributable |
| ||||||||||||||||
|
|
Security |
|
|
|
Flow |
|
|
|
Fire |
|
|
|
Safety |
|
|
|
Corporate |
|
|
|
& Metal |
|
|
|
Operating |
|
|
|
Interest |
|
Other |
|
Income |
|
Noncontrolling |
|
to Tyco |
|
to Tyco |
| ||||||||||||||||
|
|
Solutions |
|
Margin |
|
Control |
|
Margin |
|
Protection |
|
Margin |
|
Products |
|
Margin |
|
and Other |
|
Margin |
|
Products |
|
Margin |
|
Income |
|
Margin |
|
Expense, net |
|
Income, net |
|
Taxes |
|
Interest |
|
Shareholders |
|
Shareholders |
| ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
As Previously Reported (GAAP) |
|
$ |
(202 |
) |
N/M |
|
$ |
496 |
|
14.2 |
% |
$ |
70 |
|
2.1 |
% |
$ |
(367 |
) |
N/M |
|
$ |
(565 |
) |
N/M |
|
$ |
(938 |
) |
N/M |
|
$ |
(1,506 |
) |
N/M |
|
$ |
(257 |
) |
$ |
(7 |
) |
$ |
(71 |
) |
$ |
(4 |
) |
$ |
(1,845 |
) |
$ |
(3.90 |
) | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Segment Realignment |
|
(312 |
) |
|
|
|
|
|
|
(50 |
) |
|
|
367 |
|
|
|
(5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Recasted (GAAP) |
|
$ |
(514 |
) |
N/M |
|
$ |
496 |
|
14.2 |
% |
$ |
20 |
|
0.4 |
% |
|
|
|
|
$ |
(570 |
) |
N/M |
|
$ |
(938 |
) |
N/M |
|
$ |
(1,506 |
) |
N/M |
|
$ |
(257 |
) |
$ |
(7 |
) |
$ |
(71 |
) |
$ |
(4 |
) |
$ |
(1,845 |
) |
$ |
(3.90 |
) | ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Restructuring, net |
|
103 |
|
|
|
17 |
|
|
|
54 |
|
|
|
|
|
|
|
9 |
|
|
|
16 |
|
|
|
199 |
|
|
|
|
|
|
|
(53 |
) |
|
|
146 |
|
$ |
0.32 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Restructuring charges in cost of sales and SG&A |
|
15 |
|
|
|
2 |
|
|
|
8 |
|
|
|
|
|
|
|
1 |
|
|
|
7 |
|
|
|
33 |
|
|
|
|
|
|
|
(11 |
) |
|
|
22 |
|
$ |
0.05 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Other additional charges resulting from restructuring actions |
|
2 |
|
|
|
5 |
|
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
15 |
|
|
|
|
|
|
|
(4 |
) |
|
|
11 |
|
$ |
0.02 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
(Gains) / losses on divestitures, net |
|
6 |
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
6 |
|
|
|
(2 |
) |
|
|
15 |
|
|
|
|
|
|
|
(3 |
) |
|
|
12 |
|
$ |
0.03 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Intangible impairments |
|
64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
64 |
|
|
|
|
|
|
|
(25 |
) |
|
|
39 |
|
$ |
0.08 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Goodwill impairments |
|
1,286 |
|
|
|
|
|
|
|
420 |
|
|
|
|
|
|
|
|
|
|
|
935 |
|
|
|
2,641 |
|
|
|
|
|
|
|
(41 |
) |
|
|
2,600 |
|
$ |
5.47 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Tax items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
|
|
3 |
|
$ |
0.01 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Legacy legal items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
114 |
|
|
|
|
|
|
|
114 |
|
|
|
|
|
|
|
4 |
|
|
|
118 |
|
$ |
0.25 |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Total Before Special Items |
|
$ |
962 |
|
13.0 |
% |
$ |
525 |
|
15.0 |
% |
$ |
509 |
|
11.0 |
% |
|
|
|
|
$ |
(440 |
) |
N/M |
|
$ |
19 |
|
1.4 |
% |
$ |
1,575 |
|
9.3 |
% |
$ |
(257 |
) |
$ |
(7 |
) |
$ |
(201 |
) |
$ |
(4 |
) |
$ |
1,106 |
|
$ |
2.33 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding |
|
473 |
| ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Shares Outstanding - Before Special Items |
|
475 |
| ||||||||||||||||||||||
TYCO INTERNATIONAL LTD.
ORGANIC GROWTH RECONCILIATION - REVENUE
(IN MILLIONS)
(UNAUDITED)
|
|
For the Twelve Months Ended September 24, 2010 |
|
Net Revenue for |
| |||||||||||||||||||
|
|
Net Revenue |
|
Foreign Currency |
|
Acquisition/ |
|
Organic Revenue |
|
Ended September |
| |||||||||||||
Tyco Security Solutions |
|
$ |
7,734 |
|
4.9 |
% |
$ |
239 |
|
3.2 |
% |
$ |
72 |
|
1.0 |
% |
$ |
48 |
|
0.7 |
% |
$ |
7,375 |
|
Tyco Flow Control |
|
3,373 |
|
-3.5 |
% |
218 |
|
6.2 |
% |
10 |
|
0.3 |
% |
(350 |
) |
-10.0 |
% |
3,495 |
| |||||
Tyco Fire Protection |
|
4,510 |
|
-2.4 |
% |
130 |
|
2.8 |
% |
(37 |
) |
-0.8 |
% |
(203 |
) |
-4.4 |
% |
4,620 |
| |||||
Electrical and Metal Products |
|
1,399 |
|
0.5 |
% |
37 |
|
2.7 |
% |
24 |
|
1.7 |
% |
(54 |
) |
-3.9 |
% |
1,392 |
| |||||
Corporate and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total Net Revenue |
|
$ |
17,016 |
|
0.8 |
% |
$ |
624 |
|
3.7 |
% |
$ |
69 |
|
0.4 |
% |
$ |
(559 |
) |
-3.3 |
% |
$ |
16,882 |
|
|
|
For the Twelve Months Ended September 25, 2009 |
|
Net Revenue for |
| |||||||||||||||||||
|
|
Net Revenue |
|
Foreign Currency |
|
Acquisition/ |
|
Organic Revenue |
|
Ended September |
| |||||||||||||
Tyco Security Solutions |
|
$ |
7,375 |
|
-9.9 |
% |
$ |
(646 |
) |
-7.9 |
% |
$ |
147 |
|
1.8 |
% |
$ |
(314 |
) |
-3.8 |
% |
$ |
8,188 |
|
Tyco Flow Control |
|
3,495 |
|
-11.6 |
% |
(418 |
) |
-10.6 |
% |
(3 |
) |
-0.1 |
% |
(62 |
) |
-1.6 |
% |
3,952 |
| |||||
Tyco Fire Protection |
|
4,620 |
|
-13.1 |
% |
(375 |
) |
-7.1 |
% |
(3 |
) |
-0.1 |
% |
(312 |
) |
-5.9 |
% |
5,316 |
| |||||
Electrical and Metal Products |
|
1,392 |
|
-38.7 |
% |
(53 |
) |
-2.3 |
% |
(31 |
) |
-1.4 |
% |
(784 |
) |
-34.5 |
% |
2,272 |
| |||||
Corporate and Other |
|
|
|
NM |
|
|
|
0.0 |
% |
|
|
0.0 |
% |
(5 |
) |
-100.0 |
% |
5 |
| |||||
Total Net Revenue |
|
$ |
16,882 |
|
-14.4 |
% |
$ |
(1,492 |
) |
-7.6 |
% |
$ |
110 |
|
0.6 |
% |
$ |
(1,477 |
) |
-7.5 |
% |
$ |
19,733 |
|
NOTE: Organic revenue is a non-GAAP measure. See description of non-GAAP measures contained in this Form 8-K.