ADT 2015 Annual Report Download - page 161
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FORM 10-K
Aggregate annual maturities of long-term debt and capital lease obligations are as follows ($ in millions):
Fiscal 2016 ......................................... $ 8
Fiscal 2017 ......................................... 1,093
Fiscal 2018 ......................................... 7
Fiscal 2019 ......................................... 506
Fiscal 2020 ......................................... 306
Thereafter .......................................... 3,457
Total .............................................. 5,377
Less amount representing discount on notes ........... 9
Less amount representing interest on capital leases ...... 9
Plus hedge accounting fair value adjustment ........... 35
Total .............................................. 5,394
Less current maturities of long-term debt ............. 5
Total long-term debt .................................. $5,389
Interest expense totaled $209 million, $193 million and $118 million for the years ended September 25,
2015, September 26, 2014 and September 27, 2013, respectively. Interest expense for fiscal years 2015, 2014 and
2013 primarily represents interest incurred on the Company’s unsecured notes.
See Note 1 for information on the fair value of the Company’s debt.
6. Income Taxes
Significant components of income before income taxes for fiscal years 2015, 2014 and 2013 are as follows
($ in millions):
2015 2014 2013
United States ........................................... $426 $408 $610
Non-U.S. .............................................. 11 24 32
Income before income taxes ............................... $437 $432 $642
Significant components of income tax expense for fiscal years 2015, 2014 and 2013 are as follows ($ in
millions):
2015 2014 2013
Current:
United States:
Federal ........................................ $ 7 $(17) $ 7
State ..........................................271
Non-U.S. .......................................... 8 15 6
Current income tax expense ........................... $ 17 $ 5 $ 14
Deferred:
United States:
Federal ........................................ $110 $110 $172
State .......................................... 16 20 33
Non-U.S. .......................................... (2) (7) 2
Deferred income tax expense .......................... 124 123 207
Income tax explense ..................................... $141 $128 $221
87