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FORM 10-K
THE ADT CORPORATION
CONSOLIDATED BALANCE SHEETS
As of September 27, 2013 and September 28, 2012
(in millions, except share and per share data)
2013 2012
Assets
Current Assets:
Cash and cash equivalents ................................................... $ 138 $ 234
Accounts receivable trade, less allowance for doubtful accounts of $27 and $25,
respectively ............................................................ 86 78
Inventories ............................................................... 66 42
Prepaid expenses and other current assets ...................................... 85 46
Deferred income taxes ...................................................... 205 40
Total current assets .................................................... 580 440
Property and equipment, net ..................................................... 235 217
Subscriber system assets, net .................................................... 2,002 1,744
Goodwill .................................................................... 3,476 3,400
Intangible assets, net ........................................................... 2,922 2,861
Deferred subscriber acquisition costs, net ........................................... 520 464
Other assets .................................................................. 178 134
Total Assets ................................................. $9,913 $9,260
Liabilities and Stockholders’ Equity
Current Liabilities:
Current maturities of long-term debt ........................................... $ 3 $ 2
Accounts payable ......................................................... 203 144
Accrued and other current liabilities ........................................... 264 181
Income taxes payable ...................................................... 43 —
Deferred revenue .......................................................... 245 245
Total current liabilities ................................................. 758 572
Long-term debt ............................................................... 3,373 2,525
Deferred subscriber acquisition revenue ............................................ 769 675
Deferred tax liabilities .......................................................... 551 157
Other liabilities ............................................................... 140 174
Total Liabilities .................................................. 5,591 4,103
Commitments and contingencies (See Note 7)
Stockholders’ Equity:
Common stock – authorized 1,000,000,000 shares of $0.01 par value; issued and
outstanding shares – 208,980,690 as of September 27, 2013 and 231,094,332 as of
September 28, 2012 ...................................................... 2 2
Additional paid-in capital ................................................... 3,957 5,062
Retained earnings ......................................................... 283 —
Accumulated other comprehensive income ..................................... 80 93
Total Stockholders’ Equity ......................................... 4,322 5,157
Total Liabilities and Stockholders’ Equity ........................ $9,913 $9,260
See Notes to Consolidated and Combined Financial Statements
64