ADT 2015 Annual Report Download - page 157
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FORM 10-K
3. Property and Equipment
Property and equipment as of September 25, 2015 and September 26, 2014 consisted of the following ($ in
millions):
September 25,
2015
September 26,
2014
Land ..................................... $ 9 $ 9
Buildings and leasehold improvements .......... 108 101
Machinery and equipment .................... 404 392
Property under capital leases .................. 45 45
Construction in progress ..................... 40 15
Accumulated depreciation .................... (323) (297)
Property and equipment, net .............. $283 $265
4. Goodwill and Other Intangible Assets
Goodwill
On the first day of the fiscal fourth quarter of 2015, the Company performed a quantitative impairment
assessment on its two reporting units and concluded that goodwill was not impaired. Additionally, there were no
goodwill impairments as a result of performing the Company’s annual impairment tests for fiscal years 2014 and 2013.
As discussed further in Note 1, effective for the fourth quarter of fiscal year 2015, the Company changed its
operating segment reporting structure. Under this new structure, the Company now has two operating segments,
which are also the Company’s reporting units. As a result of this change, the Company reallocated goodwill to
the U.S. and Canada reporting units using the relative fair value approach.
The changes in the carrying amount of goodwill by segment for the years ended September 25, 2015 and
September 26, 2014 are as follows ($ in millions):
United States Canada Total
Balance as of September 27, 2013 .................. $3,409 $ 67 $3,476
Acquisition .................................... — 296 296
Currency translation and other ..................... (13) (21) (34)
Balance as of September 26, 2014 .................. $3,396 $342 $3,738
Currency translation and other ..................... (1) (57) (58)
Balance as of September 25, 2015 .................. $3,395 $285 $3,680
All prior period balances in the table above are presented under the new segment structure.
Other Intangible Assets
The following table sets forth the gross carrying amounts and accumulated amortization of the Company’s
other intangible assets as of September 25, 2015 and September 26, 2014 ($ in millions):
September 25, 2015 September 26, 2014
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Amortizable:
Contracts and related customer
relationships ............... $8,147 $(5,183) $8,098 $(5,022)
Other ...................... 41 (6) 51 (7)
Total ................... $8,188 $(5,189) $8,149 $(5,029)
83