ADT 2010 Annual Report Download - page 90

manufactured by our Safety Products segment. Tyco Fire Protection will consist of our Fire Protection
segment as well as a number of businesses in our Safety Products segment including our fire
suppression and building products and life safety products businesses.
As a result of this realignment, as well as the planned sale of a 51% interest of our Electrical and
Metal Products business (see Note 25 to the Consolidated Financial Statements), we will have three
core businesses: Tyco Security Solutions, Tyco Fire Protection and Flow Control.
Unless otherwise indicated, references in this Annual Report to 2010, 2009 and 2008 are to Tyco’s
fiscal years ended September 24, 2010, September 25, 2009 and September 26, 2008, respectively.
History and Development
Tyco International Ltd.
Tyco International Ltd. is a Company organized under the laws of Switzerland. The Company was
created as a result of the July 1997 acquisition of Tyco International Ltd., a Massachusetts corporation,
by ADT Limited, a public company organized under the laws of Bermuda, at which time ADT Limited
changed its name to Tyco International Ltd. Effective March 17, 2009, following shareholder and Board
of Director approval on March 12, 2009, the Company ceased to exist as a Bermuda corporation and
continued its existence as a Swiss corporation under articles 620 et seq. of the Swiss Code of
Obligations (the ‘‘Change of Domicile’’).
Effective June 29, 2007, Tyco International Ltd. completed the spin-offs of Covidien and Tyco
Electronics, formerly our Healthcare and Electronics businesses, respectively, into separate, publicly
traded companies (the ‘‘Separation’’) in the form of a distribution to Tyco shareholders.
During the third quarter of 2010, we announced our intention to pursue a tax-free spin-off of our
Electrical and Metal Products business. On November 9, 2010, we announced an agreement to sell a
51% interest in our Electrical and Metal Products business. In connection with this announcement, we
no longer plan to pursue the tax-free spin-off of our Electrical and Metal Products business as
proposed on April 27, 2010. See Note 25 to the Consolidated Financial Statements.
On May 14, 2010, we acquired all of the outstanding equity of Brink’s Home Security Holdings,
Inc. (‘‘BHS’’ or ‘‘Broadview Security’’) in a cash-and-stock transaction valued at approximately
$2.0 billion, with $585 million in cash being used to fund the acquisition. Broadview Security is being
integrated into the Company’s ADT Worldwide segment.
Tyco’s registered and principal office is located at Freier Platz 10, CH-8200 Schaffhausen,
Switzerland. Its management office in the United States is located at 9 Roszel Road, Princeton, New
Jersey 08540.
Segments
Certain prior period amounts have been reclassified to conform with the current period
presentation. During the third quarter of 2010, our Board of Directors approved a plan to sell our
water business in Europe, which is part of our Flow Control segment. The business met the held for
sale criteria and discontinued operations criteria and has been included in discontinued operations for
all periods presented. See Note 2 to the Consolidated Financial Statements. Additionally, during fiscal
2010 we aligned certain business operations resulting in prior period segment amounts being recast. See
Note 19 to the Consolidated Financial Statements.
ADT Worldwide
Our ADT Worldwide segment designs, sells, installs, services and monitors electronic security
systems for residential, commercial, educational, governmental and industrial customers around the
2 2010 Financials