Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

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Discontinued Operations
3 Months Ended
Dec. 29, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Note 8 — Discontinued Operations
On November 25, 2013, the Company completed its sale of the North and Latin America operations of its Omnitracs division to a U.S.-based private equity firm for cash consideration of $788 million (net of cash sold), which is subject to a working capital adjustment pursuant to the terms and conditions of the definitive agreement. As a result, the Company recorded a gain in discontinued operations of $665 million ($430 million net of income tax expense) during the three months ended December 29, 2013. Total assets and total liabilities were reduced by $150 million and $45 million, respectively. The revenues and operating results of the North and Latin America operations of the Omnitracs division, which comprised substantially all of the Omnitracs division, were not presented as discontinued operations in any fiscal period because they were immaterial. The related assets (included in other current assets and other noncurrent assets) and liabilities (included in other current liabilities and other noncurrent liabilities) of $139 million and $43 million, respectively, were classified as held for sale at September 29, 2013.