Acquisitions
|
12 Months Ended |
---|---|
Sep. 28, 2014
|
|
Notes to Financial Statements [Abstract] | |
Note 9 - Acquisitions |
Note 9. Acquisitions
During fiscal 2014, the Company acquired 11 businesses for total cash consideration of $775 million and the exchange of unvested stock options that had a negligible fair value. Technology-based intangible assets recognized in the amount of $146 million are being amortized on a straight-line basis over a weighted-average useful life of six years. Goodwill of $628 million was recognized in these transactions, of which $294 million is expected to be deductible for tax purposes.
During fiscal 2013, the Company acquired five businesses for total cash consideration of $114 million. Technology-based intangible assets recognized in the amount of $24 million are being amortized on a straight-line basis over a weighted-average useful life of six years. Goodwill of $83 million was recognized in these transactions, of which $21 million is expected to be deductible for tax purposes.
During fiscal 2012, the Company acquired eight businesses for total cash consideration of $774 million. Technology-based intangible assets recognized in the amount of $164 million are being amortized on a straight-line basis over a weighted-average useful life of six years. Goodwill of $517 million was recognized in these transactions, of which $71 million is expected to be deductible for tax purposes.
The Company recorded $26 million, $2 million and $62 million related to four in-process research and development (IPR&D) projects during fiscal 2014, one IPR&D project in fiscal 2013 and 10 IPR&D projects in fiscal 2012, respectively. During fiscal 2014, the Company recorded $20 million in impairment charges related to two IPR&D projects acquired in fiscal 2012. At September 28, 2014, remaining IPR&D of $55 million consisted of eight projects, which are expected to be completed within three years. Upon completion, the IPR&D projects will be amortized over their useful lives, which are expected to range from three to nine years.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|