ADT 2005 Annual Report Download - page 177
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TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
4. Discontinued Operations and Divestitures (Continued)
Businesses held for sale
The following table presents balance sheet information for discontinued operations and other
businesses held for sale at September 30, 2005 and 2004 ($ in millions):
2005 2004
Accounts receivable, net ...................................... $ 225 $ 420
Inventories ................................................ 184 282
Prepaid expenses and other current assets ......................... 62 165
Property, plant and equipment, net .............................. 292 416
Goodwill and intangible assets, net ............................... 562 803
Other assets ............................................... 30 84
Total assets .............................................. $1,355 $2,170
Accounts payable ........................................... $ 94 $ 227
Accrued and other current liabilities .............................. 138 399
Other liabilities ............................................. 48 249
Total liabilities ............................................ $ 280 $ 875
5. Acquisitions
Acquisitions
In July 2005, Surgical, a division in Tyco’s Healthcare segment, acquired Vivant Medical Inc.
(‘‘Vivant’’), a developer of microwave ablation medical technology. The transaction is valued at
approximately $66 million cash, with up to approximately $35 million additional cash to be paid in the
future based on achieving certain milestones. Cash paid, net of cash acquired, for various other
acquisitions totaled $16 million.
During 2004, the Company completed the acquisition of two businesses within Engineered
Products and Services and Fire and Security for an aggregate cost of $9 million.
During 2003, the Company purchased seven businesses within Healthcare, Engineered Products
and Services, Fire and Security and Electronics for an aggregate cost of $44 million in cash, net of
$1 million of cash acquired.
These acquisitions were funded utilizing cash from operations. The results of operations of the
acquired companies have been included in Tyco’s consolidated results from the respective acquisition
dates. These acquisitions did not have a material effect on the Company’s financial position, results of
operations or cash flows.
2005 Financials 101