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A Delaware corporation
|
101 Oakley Street, Evansville, Indiana, 47710
(812) 424-2904
|
IRS employer identification number 20-5234618
|
Title of Each Class
|
Name of Each Exchange on Which Registered
|
Common Stock, $0.01 par value per share
|
New York Stock Exchange
|
Large accelerated filer
|
Accelerated filer
|
Non-accelerated filer
|
Small reporting company
|
Emerging growth company
☐
|
Class
|
|
Outstanding at November 21, 2017
|
Common Stock, $.01 par value per share
|
|
131.0 million shares
|
● |
risks associated with our substantial indebtedness and debt service;
|
● |
changes in prices and availability of resin and other raw materials and our ability to pass on changes in raw material prices on a timely basis;
|
● |
performance of our business and future operating results;
|
● |
risks related to acquisitions and integration of acquired businesses;
|
● |
reliance on unpatented proprietary know-how and trade secrets;
|
● |
increases in the cost of compliance with laws and regulations, including environmental, safety, production and product laws and regulations;
|
● |
risks related to disruptions in the overall economy and the financial markets that may adversely impact our business;
|
● |
risks of catastrophic loss of one of our key manufacturing facilities, natural disasters, and other unplanned business interruptions;
|
●
|
risks related to market acceptance of our developing technologies and products;
|
●
|
general business and economic conditions, particularly an economic downturn;
|
●
|
ability of our insurance to fully cover potential exposures;
|
●
|
risks that our restructuring programs may entail greater implementation costs or result in lower savings than anticipated;
|
● |
risks of competition, including foreign competition, in our existing and future markets; and
|
● |
the other factors discussed in the section titled "Risk Factors."
|
|
|
Page
|
|
PART I
|
|
|
PART II
|
|
|
|
|
|
PART III
|
|
|
|
|
|
PART IV
|
|
|
|
|
|
limit our ability to borrow money for our working capital, capital expenditures, debt service requirements or other corporate purposes;
|
|
increase our vulnerability to general adverse economic and industry conditions; and
|
|
limit our ability to respond to business opportunities, including growing our business through acquisitions.
|
Geographic Region
|
Total Facilities
|
Leased Facilities
|
||
North America
|
98
|
27
|
||
Europe, Middle East
|
16
|
5
|
||
South America
|
4
|
1
|
||
Asia, Australia
|
9
|
2
|
|
Fiscal 2017
|
Fiscal 2016
|
||||||||||||||
|
High
|
Low
|
High
|
Low
|
||||||||||||
1st quarter
|
$
|
51.68
|
$
|
42.46
|
$
|
37.59
|
$
|
28.41
|
||||||||
2nd quarter
|
52.97
|
47.19
|
36.66
|
27.79
|
||||||||||||
3rd quarter
|
58.95
|
47.24
|
40.00
|
34.96
|
||||||||||||
4th quarter
|
58.85
|
54.89
|
46.26
|
38.19
|
|
Fiscal 2017
|
Fiscal 2016
|
Fiscal 2015
|
Fiscal 2014
|
Fiscal 2013
|
|||||||||||||||
Statement of Operations Data:
Net sales
|
$
|
7,095
|
$
|
6,489
|
$
|
4,881
|
$
|
4,958
|
$
|
4,647
|
||||||||||
Operating income
|
732
|
581
|
408
|
316
|
386
|
|||||||||||||||
Net income
|
340
|
236
|
86
|
62
|
57
|
|||||||||||||||
Net Income Per Share Data:
|
||||||||||||||||||||
Basic, net income per share
|
$
|
2.66
|
$
|
1.95
|
$
|
0.72
|
$
|
0.53
|
$
|
0.50
|
||||||||||
Diluted, net income per share
|
2.56
|
1.89
|
0.70
|
0.51
|
0.48
|
|||||||||||||||
Balance Sheet Data:
|
||||||||||||||||||||
Total assets
|
$
|
8,476
|
$
|
7,653
|
$
|
5,028
|
$
|
5,252
|
$
|
5,111
|
||||||||||
Long-term debt obligations
|
5,641
|
5,755
|
3,685
|
3,902
|
3,922
|
|||||||||||||||
Statement of Cash Flow Data:
|
||||||||||||||||||||
Net cash from operating activities
|
$
|
975
|
$
|
857
|
$
|
637
|
$
|
530
|
$
|
464
|
||||||||||
Net cash from investing activities
|
(774
|
)
|
(2,579
|
)
|
(165
|
)
|
(422
|
)
|
(245
|
)
|
||||||||||
Net cash from financing activities
|
(226
|
)
|
1,817
|
(365
|
)
|
(119
|
)
|
(164
|
)
|
|
Polyethylene Butene Film
|
Polypropylene
|
||||||||||||||||||||||
|
2017
|
2016
|
2015
|
2017
|
2016
|
2015
|
||||||||||||||||||
1st quarter
|
$
|
.75
|
$
|
.69
|
$
|
.86
|
$
|
.69
|
$
|
.70
|
$
|
.92
|
||||||||||||
2nd quarter
|
.77
|
.66
|
.75
|
.80
|
.75
|
.73
|
||||||||||||||||||
3rd quarter
|
.79
|
.73
|
.76
|
.74
|
.71
|
.68
|
||||||||||||||||||
4th quarter
|
.81
|
.75
|
.73
|
.75
|
.71
|
.66
|
Consolidated Overview
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
7,095
|
$
|
6,489
|
$
|
606
|
9
|
%
|
||||||||
Operating income
|
$
|
732
|
$
|
581
|
$
|
151
|
26
|
%
|
||||||||
Operating income percentage of net sales
|
10
|
%
|
9
|
%
|
Engineered Materials
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
2,375
|
$
|
1,627
|
$
|
748
|
46
|
%
|
||||||||
Operating income
|
$
|
316
|
$
|
182
|
$
|
134
|
74
|
%
|
||||||||
Operating income percentage of net sales
|
13
|
%
|
11
|
%
|
Health, Hygiene & Specialties
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
2,369
|
$
|
2,400
|
$
|
(31
|
)
|
(1
|
)%
|
|||||||
Operating income
|
$
|
216
|
$
|
196
|
$
|
20
|
10
|
%
|
||||||||
Operating income percentage of net sales
|
9
|
%
|
8
|
%
|
Consumer Packaging
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
2,351
|
$
|
2,462
|
$
|
(111
|
)
|
(5
|
)%
|
|||||||
Operating income
|
$
|
200
|
$
|
203
|
$
|
(3
|
)
|
(1
|
)%
|
|||||||
Operating income percentage of net sales
|
9
|
%
|
8
|
%
|
Debt extinguishment
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Debt extinguishment
|
$
|
10
|
$
|
4
|
$
|
6
|
150
|
%
|
Other expense (income), net
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Other expense (income), net
|
$
|
4
|
$
|
(22
|
)
|
$
|
26
|
118
|
%
|
Interest expense
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Interest expense, net
|
$
|
269
|
$
|
291
|
$
|
(22
|
)
|
(8
|
)%
|
Income tax expense
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Income tax expense
|
$
|
109
|
$
|
72
|
$
|
37
|
51
|
%
|
Comprehensive Income
|
Fiscal Year
|
|||||||||||||||
|
2017
|
2016
|
$ Change
|
% Change
|
||||||||||||
Comprehensive Income
|
$
|
420
|
$
|
207
|
$
|
213
|
103
|
%
|
Consolidated Overview
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
6,489
|
$
|
4,881
|
$
|
1,608
|
33
|
%
|
||||||||
Operating income
|
$
|
581
|
$
|
408
|
$
|
173
|
42
|
%
|
||||||||
Operating income percentage of net sales
|
9
|
%
|
8
|
%
|
Engineered Materials
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
1,627
|
$
|
1,701
|
$
|
(74
|
)
|
(4
|
)%
|
|||||||
Operating income
|
$
|
182
|
$
|
149
|
$
|
33
|
22
|
%
|
||||||||
Operating income percentage of net sales
|
11
|
%
|
9
|
%
|
Health, Hygiene & Specialties
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
2,400
|
$
|
650
|
$
|
1,750
|
269
|
%
|
||||||||
Operating income
|
$
|
196
|
$
|
59
|
$
|
137
|
232
|
%
|
||||||||
Operating income percentage of net sales
|
8
|
%
|
9
|
%
|
Consumer Packaging
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
2,462
|
$
|
2,530
|
$
|
(68
|
)
|
(3
|
)%
|
|||||||
Operating income
|
$
|
203
|
$
|
200
|
$
|
3
|
2
|
%
|
||||||||
Operating income percentage of net sales
|
8
|
%
|
8
|
%
|
Debt extinguishment
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Debt extinguishment
|
$
|
4
|
$
|
94
|
$
|
(90
|
)
|
(96
|
)%
|
Other expense (income), net
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Other expense (income), net
|
$
|
(22
|
)
|
$
|
1
|
$
|
(23
|
)
|
(2,300
|
)%
|
Interest expense
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Interest expense, net
|
$
|
291
|
$
|
191
|
$
|
100
|
52
|
%
|
Income tax expense
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Income tax expense
|
$
|
72
|
$
|
36
|
$
|
36
|
100
|
%
|
Comprehensive Income
|
Fiscal Year
|
|||||||||||||||
|
2016
|
2015
|
$ Change
|
% Change
|
||||||||||||
Comprehensive Income
|
$
|
207
|
$
|
10
|
$
|
197
|
1970
|
%
|
|
Payments due by period as of the end of fiscal 2017
|
|||||||||||||||||||
|
Total
|
< 1 year
|
1-3 years
|
4-5 years
|
> 5 years
|
|||||||||||||||
Long-term debt, excluding capital leases
|
$
|
5,556
|
$
|
5
|
$
|
1,010
|
$
|
824
|
$
|
3,717
|
||||||||||
Capital leases
(a)
|
146
|
33
|
60
|
41
|
12
|
|||||||||||||||
Fixed interest rate payments
|
533
|
87
|
175
|
175
|
96
|
|||||||||||||||
Variable interest rate payments
(b)
|
630
|
153
|
270
|
168
|
39
|
|||||||||||||||
Operating leases
|
426
|
64
|
104
|
80
|
178
|
|||||||||||||||
Total contractual cash obligations
|
$
|
7,291
|
$
|
342
|
$
|
1,619
|
$
|
1,288
|
$
|
4,042
|
(a) |
Includes anticipated interest of $15 million over the life of the capital leases.
|
(b) |
Based on applicable interest rates in effect end of fiscal 2017.
|
Years Ended
|
||||||||||||
September 30, 2017
|
October 1, 2016
|
September 26, 2015
|
||||||||||
Cash flow from operating activities
|
$
|
975
|
$
|
857
|
$
|
637
|
||||||
Net additions to property, Additions to property, plant and equipment, net
|
(263
|
)
|
(283
|
)
|
(162
|
)
|
||||||
Payments of tax receivable agreement
|
(111
|
)
|
(57
|
)
|
(39
|
)
|
||||||
Adjusted free cash flow
|
$
|
601
|
$
|
517
|
$
|
436
|
|
Fair Value
July 1, 2017
|
Carrying Value July 1, 2017
|
Goodwill as of
September 30, 2017
|
|||||
HHS – South America
|
390
|
359
|
|
107
|
||||
HHS – Asia
|
530
|
356
|
|
75
|
Reports of Independent Registered Public Accounting Firm
|
26
|
Consolidated Statements of Income and Comprehensive Income for fiscal 2017, 2016 and 2015
|
28
|
Consolidated Balance Sheets as of fiscal 2017 and 2016
|
29
|
Consolidated Statements of Changes in Stockholders' Equity (Deficit) for fiscal 2017, 2016 and 2015
|
30
|
Consolidated Statements of Cash Flows for fiscal 2017, 2016 and 2015
|
31
|
Notes to Consolidated Financial Statements
|
32
|
Item 12. |
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
1. |
Financial Statements
|
2. |
Financial Statement Schedules
|
3. |
Exhibits
|
|
Fiscal years ended
|
|||||||||||
|
September 30, 2017
|
October 1, 2016
|
September 26, 2015
|
|||||||||
Net sales
|
$
|
7,095
|
$
|
6,489
|
$
|
4,881
|
||||||
Costs and expenses:
|
||||||||||||
Cost of goods sold
|
5,691
|
5,202
|
4,012
|
|||||||||
Selling, general and administrative
|
494
|
531
|
357
|
|||||||||
Amortization of intangibles
|
154
|
143
|
91
|
|||||||||
Restructuring and impairment charges
|
24
|
32
|
13
|
|||||||||
Operating income
|
732
|
581
|
408
|
|||||||||
|
||||||||||||
Debt extinguishment
|
10
|
4
|
94
|
|||||||||
Other (income) expense, net
|
4
|
(22
|
)
|
1
|
||||||||
Interest expense, net
|
269
|
291
|
191
|
|||||||||
Income before income taxes
|
449
|
308
|
122
|
|||||||||
Income tax expense
|
109
|
72
|
36
|
|||||||||
Net income
|
$
|
340
|
$
|
236
|
$
|
86
|
||||||
Net income per share:
|
||||||||||||
Basic (see footnote 14)
|
$
|
2.66
|
$
|
1.95
|
$
|
0.72
|
||||||
Diluted (see footnote 14)
|
$
|
2.56
|
$
|
1.89
|
$
|
0.70
|
|
Fiscal years ended
|
|||||||||||
|
September 30, 2017
|
October 1, 2016
|
September 26, 2015
|
|||||||||
Net income
|
$
|
340
|
$
|
236
|
$
|
86
|
||||||
Currency translation
|
34
|
(1
|
)
|
(45
|
)
|
|||||||
Defined benefit pension and retiree health benefit plans
|
38
|
(23
|
)
|
(16
|
)
|
|||||||
Interest rate hedges
|
28
|
(14
|
)
|
(33
|
)
|
|||||||
Provision for income taxes related to other comprehensive income items
|
(20
|
)
|
9
|
18
|
||||||||
Other comprehensive income, net of tax
|
80
|
(29
|
)
|
(76
|
)
|
|||||||
Comprehensive income
|
$
|
420
|
$
|
207
|
$
|
10
|
|
September 30, 2017
|
October 1, 2016
|
||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
306
|
$
|
323
|
||||
Accounts receivable, net
|
847
|
704
|
||||||
Inventories
|
762
|
660
|
||||||
Prepaid expenses and other current assets
|
89
|
105
|
||||||
Total current assets
|
2,004
|
1,792
|
||||||
Property, plant and equipment, net
|
2,366
|
2,224
|
||||||
Goodwill and intangible assets, net
|
4,061
|
3,606
|
||||||
Other assets
|
45
|
31
|
||||||
Total assets
|
$
|
8,476
|
$
|
7,653
|
||||
|
||||||||
Liabilities
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
638
|
$
|
539
|
||||
Accrued expenses and other current liabilities
|
463
|
449
|
||||||
Current portion of long-term debt
|
33
|
43
|
||||||
Total current liabilities
|
1,134
|
1,031
|
||||||
Long-term debt, less current portion
|
5,608
|
5,712
|
||||||
Deferred income taxes
|
419
|
272
|
||||||
Other long-term liabilities
|
300
|
417
|
||||||
Total liabilities
|
7,461
|
7,432
|
||||||
Commitments and contingencies
|
||||||||
Stockholders' Equity:
|
||||||||
Common stock: (130.9 and 122.0 shares issued, respectively)
|
1
|
1
|
||||||
Additional paid-in capital
|
823
|
449
|
||||||
Non-controlling interest
|
3
|
3
|
||||||
Retained earnings (deficit)
|
256
|
(84
|
)
|
|||||
Accumulated other comprehensive loss
|
(68
|
)
|
(148
|
)
|
||||
Total stockholders' equity
|
1,015
|
221
|
||||||
Total liabilities and stockholders' equity
|
$
|
8,476
|
$
|
7,653
|
|
Common Stock
|
Additional Paid-in Capital
|
Non-Controlling Interest
|
Accumulated Other Comprehensive Loss
|
Retained Earnings (Deficit)
|
Total
|
||||||||||||||||||
Balance at September 27, 2014
|
$
|
1
|
$
|
367
|
$
|
3
|
$
|
(43
|
)
|
$
|
(442
|
)
|
$
|
(114
|
)
|
|||||||||
Stock compensation expense
|
—
|
21
|
—
|
—
|
—
|
21
|
||||||||||||||||||
Proceeds from issuance of common stock
|
—
|
18
|
—
|
—
|
—
|
18
|
||||||||||||||||||
Interest rate hedge, net of tax
|
—
|
—
|
—
|
(21
|
)
|
—
|
(21
|
)
|
||||||||||||||||
Net income attributable to the Company
|
—
|
—
|
—
|
—
|
86
|
86
|
||||||||||||||||||
Currency translation
|
—
|
—
|
—
|
(45
|
)
|
—
|
(45
|
)
|
||||||||||||||||
Defined benefit pension and retiree health benefit plans, net of tax
|
—
|
—
|
—
|
(10
|
)
|
—
|
(10
|
)
|
||||||||||||||||
Balance at September 26, 2015
|
$
|
1
|
$
|
406
|
$
|
3
|
$
|
(119
|
)
|
$
|
(356
|
)
|
$
|
(65
|
)
|
|||||||||
Stock compensation expense
|
—
|
20
|
—
|
—
|
—
|
20
|
||||||||||||||||||
Cumulative effect of excess tax benefit from the adoption of ASU 2016-09
|
—
|
—
|
—
|
—
|
36
|
36
|
||||||||||||||||||
Proceeds from issuance of common stock
|
—
|
26
|
—
|
—
|
—
|
26
|
||||||||||||||||||
Interest rate hedge, net of tax
|
—
|
—
|
—
|
(9
|
)
|
—
|
(9
|
)
|
||||||||||||||||
Net income attributable to the Company
|
—
|
—
|
—
|
—
|
236
|
236
|
||||||||||||||||||
Currency translation
|
—
|
—
|
—
|
(1
|
)
|
—
|
(1
|
)
|
||||||||||||||||
Defined benefit pension and retiree health benefit plans, net of tax
|
—
|
—
|
—
|
(19
|
)
|
—
|
(19
|
)
|
||||||||||||||||
Other equity
|
—
|
(3
|
)
|
—
|
—
|
—
|
(3
|
)
|
||||||||||||||||
Balance at October 1, 2016
|
$
|
1
|
$
|
449
|
$
|
3
|
$
|
(148
|
)
|
$
|
(84
|
)
|
$
|
221
|
||||||||||
Stock compensation expense
|
—
|
20
|
—
|
—
|
—
|
20
|
||||||||||||||||||
Proceeds from issuance of common stock
|
—
|
31
|
—
|
—
|
—
|
31
|
||||||||||||||||||
Interest rate hedge, net of tax
|
—
|
—
|
—
|
18
|
—
|
18
|
||||||||||||||||||
Net income attributable to the Company
|
—
|
—
|
—
|
—
|
340
|
340
|
||||||||||||||||||
Currency translation
|
—
|
—
|
—
|
34
|
—
|
34
|
||||||||||||||||||
Defined benefit pension and retiree health benefit plans, net of tax
|
—
|
—
|
—
|
28
|
—
|
28
|
||||||||||||||||||
Equity issuance, net (see Footnote 2)
|
—
|
323
|
—
|
—
|
—
|
323
|
||||||||||||||||||
Balance at September 30, 2017
|
$
|
1
|
$
|
823
|
$
|
3
|
$
|
(68
|
)
|
$
|
256
|
$
|
1,015
|
|
Fiscal years ended
|
|||||||||||
|
September 30, 2017
|
October 1, 2016
|
September 26, 2015
|
|||||||||
|
||||||||||||
Cash Flows from Operating Activities:
|
||||||||||||
Net income
|
$
|
340
|
$
|
236
|
$
|
86
|
||||||
|
||||||||||||
Adjustments to reconcile net cash from operating activities:
|
||||||||||||
Depreciation
|
367
|
382
|
259
|
|||||||||
Amortization of intangibles
|
154
|
143
|
91
|
|||||||||
Non-cash interest expense
|
9
|
9
|
6
|
|||||||||
Debt extinguishment
|
10
|
4
|
94
|
|||||||||
Stock compensation expense
|
20
|
20
|
21
|
|||||||||
Deferred income tax
|
5
|
31
|
26
|
|||||||||
Other non-cash operating activities, net
|
15
|
(13
|
)
|
2
|
||||||||
Changes in operating assets and liabilities:
|
||||||||||||
Accounts receivable, net
|
(41
|
)
|
(34
|
)
|
46
|
|||||||
Inventories
|
10
|
9
|
74
|
|||||||||
Prepaid expenses and other assets
|
27
|
21
|
(8
|
)
|
||||||||
Accounts payable and other liabilities
|
59
|
49
|
(60
|
)
|
||||||||
Net cash from operating activities
|
975
|
857
|
637
|
|||||||||
|
||||||||||||
Cash Flows from Investing Activities:
|
||||||||||||
Additions to property, plant and equipment
|
(269
|
)
|
(288
|
)
|
(180
|
)
|
||||||
Proceeds from sale of assets
|
6
|
5
|
18
|
|||||||||
Acquisition of business, net of cash acquired
|
(515
|
)
|
(2,283
|
)
|
(3
|
)
|
||||||
Other investing activities, net
|
4
|
(13
|
)
|
—
|
||||||||
Net cash from investing activities
|
(774
|
)
|
(2,579
|
)
|
(165
|
)
|
||||||
|
||||||||||||
Cash Flows from Financing Activities:
|
||||||||||||
Proceeds from long-term borrowings
|
495
|
2,490
|
693
|
|||||||||
Repayment of long-term borrowings
|
(636
|
)
|
(524
|
)
|
(951
|
)
|
||||||
Proceeds from issuance of common stock
|
31
|
26
|
18
|
|||||||||
Payment of tax receivable agreement
|
(111
|
)
|
(57
|
)
|
(39
|
)
|
||||||
Debt financing costs
|
(5
|
)
|
(40
|
)
|
(86
|
)
|
||||||
Purchase of non-controlling interest
|
—
|
(78
|
)
|
—
|
||||||||
Net cash from financing activities
|
(226
|
)
|
1,817
|
(365
|
)
|
|||||||
Effect of currency translation on cash
|
8
|
—
|
(8
|
)
|
||||||||
Net change in cash and cash equivalents
|
(17
|
)
|
95
|
99
|
||||||||
Cash and cash equivalents at beginning of period
|
323
|
228
|
129
|
|||||||||
Cash and cash equivalents at end of period
|
$
|
306
|
$
|
323
|
$
|
228
|
|
2017
|
2016
|
2015
|
|||||||||
Allowance for doubtful accounts, beginning
|
$
|
8
|
$
|
3
|
$
|
3
|
||||||
Acquisition allowance for doubtful accounts
|
5
|
6
|
—
|
|||||||||
Bad debt expense
|
1
|
1
|
2
|
|||||||||
Write-offs against allowance
|
(1
|
)
|
(2
|
)
|
(2
|
)
|
||||||
Allowance for doubtful accounts, ending
|
$
|
13
|
$
|
8
|
$
|
3
|
Inventories:
|
2017
|
2016
|
||||||
Finished goods
|
$
|
428
|
$
|
397
|
||||
Raw materials
|
334
|
263
|
||||||
|
$
|
762
|
$
|
660
|
Property, plant and equipment:
|
2017
|
2016
|
||||||
Land, buildings and improvements
|
$
|
792
|
$
|
667
|
||||
Equipment and construction in progress
|
3,895
|
3,552
|
||||||
|
4,687
|
4,219
|
||||||
Less accumulated depreciation
|
(2,321
|
)
|
(1,995
|
)
|
||||
|
$
|
2,366
|
$
|
2,224
|
|
Consumer
Packaging
|
Health,
Hygiene &
Specialties
|
Engineered
Materials
|
Total
|
||||||||||||
Balance as of fiscal 2015
|
$
|
1,520
|
$
|
48
|
$
|
84
|
$
|
1,652
|
||||||||
Foreign currency translation adjustment
|
—
|
13
|
1
|
14
|
||||||||||||
Acquisitions, net
|
—
|
740
|
—
|
740
|
||||||||||||
Balance as of fiscal 2016
|
$
|
1,520
|
$
|
801
|
$
|
85
|
$
|
2,406
|
||||||||
Segment re-alignment
|
(110
|
)
|
7
|
103
|
—
|
|||||||||||
Foreign currency translation adjustment
|
1
|
11
|
(1
|
)
|
11
|
|||||||||||
Acquisitions, net
|
—
|
—
|
358
|
358
|
||||||||||||
Balance as of fiscal 2017
|
$
|
1,411
|
$
|
819
|
$
|
545
|
$
|
2,775
|
|
Customer
Relationships
|
Trademarks
|
Other
Intangibles
|
Accumulated
Amortization
|
Total
|
|||||||||||||||
Balance as of fiscal 2015
|
$
|
1,159
|
$
|
281
|
$
|
106
|
$
|
(853
|
)
|
$
|
693
|
|||||||||
Adjustment for income taxes
|
(3
|
)
|
—
|
—
|
—
|
(3
|
)
|
|||||||||||||
Foreign currency translation adjustment
|
11
|
—
|
1
|
(2
|
)
|
10
|
||||||||||||||
Amortization expense
|
—
|
—
|
—
|
(143
|
)
|
(143
|
)
|
|||||||||||||
Acquisition intangibles
|
523
|
45
|
75
|
—
|
643
|
|||||||||||||||
Balance as of fiscal 2016
|
$
|
1,690
|
$
|
326
|
$
|
182
|
$
|
(998
|
)
|
$
|
1,200
|
|||||||||
|
||||||||||||||||||||
Adjustment for income taxes
|
—
|
1
|
—
|
—
|
1
|
|||||||||||||||
Foreign currency translation adjustment
|
6
|
(1
|
)
|
1
|
(3
|
)
|
3
|
|||||||||||||
Amortization expense
|
—
|
—
|
—
|
(154
|
)
|
(154
|
)
|
|||||||||||||
Acquisition intangibles
|
226
|
9
|
1
|
—
|
236
|
|||||||||||||||
Balance as of fiscal 2017
|
$
|
1,922
|
$
|
335
|
$
|
184
|
$
|
(1,155
|
)
|
$
|
1,286
|
Currency Translation
|
Defined Benefit Pension and Retiree Health Benefit Plans
|
Interest Rate Swaps
|
Accumulated Other Comprehensive Loss
|
|||||||||||||
Balance as of fiscal 2014
|
$
|
(36
|
)
|
$
|
(15
|
)
|
$
|
8
|
$
|
(43
|
)
|
|||||
Other comprehensive loss
|
(45
|
)
|
(16
|
)
|
(33
|
)
|
(94
|
)
|
||||||||
Provision for income taxes
|
—
|
6
|
12
|
18
|
||||||||||||
Balance as of fiscal 2015
|
$
|
(81
|
)
|
$
|
(25
|
)
|
$
|
(13
|
)
|
$
|
(119
|
)
|
||||
Other comprehensive loss
|
(1
|
)
|
(25
|
)
|
(30
|
)
|
(56
|
)
|
||||||||
Net amount reclassified from accumulated other comprehensive income (loss)
|
—
|
2
|
16
|
18
|
||||||||||||
Provision for income taxes
|
—
|
4
|
5
|
9
|
||||||||||||
Balance as of fiscal 2016
|
$
|
(82
|
)
|
$
|
(44
|
)
|
$
|
(22
|
)
|
$
|
(148
|
)
|
||||
Other comprehensive income
|
34
|
25
|
7
|
66
|
||||||||||||
Net amount reclassified from accumulated other comprehensive income (loss)
(a)
|
—
|
13
|
21
|
34
|
||||||||||||
Provision for income taxes
|
—
|
(10
|
)
|
(10
|
)
|
(20
|
)
|
|||||||||
Balance as of fiscal 2017
|
$
|
(48
|
)
|
$
|
(16
|
)
|
$
|
(4
|
)
|
$
|
(68
|
)
|
Working capital (a)
|
$
|
140
|
||
Property and equipment
|
223
|
|||
Intangible assets
|
214
|
|||
Goodwill
|
343
|
|||
Historical AEP debt assumed
|
(7
|
)
|
||
Other assets and long-term liabilities
|
(122
|
)
|
||
(a) Includes a $5 million step up of inventory to fair value
|
Maturity Date
|
September 30, 2017
|
October 1, 2016
|
|||||||
Term loan
|
February 2020
|
$
|
1,000
|
$
|
1,351
|
||||
Term loan
|
January 2021
|
814
|
814
|
||||||
Term loan
|
October 2022
|
1,645
|
1,895
|
||||||
Term loan
|
January 2024
|
498
|
—
|
||||||
Revolving line of credit
|
May 2020
|
—
|
—
|
||||||
5
1
/
8
% Second Priority Senior Secured Notes
|
July 2023
|
700
|
700
|
||||||
5
1
/
2
% Second Priority Senior Secured Notes
|
May 2022
|
500
|
500
|
||||||
6% Second Priority Senior Secured Notes
|
October 2022
|
400
|
400
|
||||||
Debt discounts and deferred fees
|
|
(48
|
)
|
(58
|
)
|
||||
Capital leases and other
|
Various
|
132
|
153
|
||||||
Total long-term debt
|
|
5,641
|
5,755
|
||||||
Current portion of long-term debt
|
|
(33
|
)
|
(43
|
)
|
||||
Long-term debt, less current portion
|
|
$
|
5,608
|
$
|
5,712
|
Fiscal Year
|
Maturities
|
|||
2018
|
$
|
33
|
||
2019
|
33
|
|||
2020
|
1,033
|
|||
2021
|
839
|
|||
2022
|
21
|
|||
Thereafter
|
3,730
|
|||
|
$
|
5,689
|
Derivatives Instruments
|
Hedge Designation
|
Balance Sheet Location
|
2017
|
2016
|
||||||
Foreign currency forward contracts
|
Not designated
|
Other assets
|
$
|
—
|
$
|
3
|
||||
Interest rate swaps
|
Designated
|
Other assets
|
1
|
—
|
||||||
Interest rate swaps
|
Not designated
|
Other assets
|
13
|
—
|
||||||
Interest rate swaps
|
Designated
|
Other long-term liabilities
|
15
|
48
|
||||||
Interest rate swaps
|
Not designated
|
Other long-term liabilities
|
13
|
—
|
|
|
Fiscal years Ended
|
|||||||||||
Derivatives instruments
|
Statement of Income Location
|
September 30, 2017
|
October 1, 2016
|
September 26, 2015
|
|||||||||
Interest rate swaps
|
Interest expense, net
|
$
|
24
|
$
|
16
|
$
|
—
|
||||||
Foreign currency swaps
|
Other (income) expense
|
$
|
(2
|
)
|
$
|
13
|
$
|
—
|
|
As of the end of fiscal 2017
|
|||||||||||||||||||
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Impairment
|
|||||||||||||||
Indefinite-lived trademarks
|
$
|
—
|
$
|
—
|
$
|
248
|
$
|
248
|
$
|
—
|
||||||||||
Goodwill
|
—
|
—
|
2,775
|
2,775
|
—
|
|||||||||||||||
Definite lived intangible assets
|
—
|
—
|
1,038
|
1,038
|
—
|
|||||||||||||||
Property, plant and equipment
|
—
|
—
|
2,366
|
2,366
|
2
|
|||||||||||||||
Total
|
$
|
—
|
$
|
—
|
$
|
6,427
|
$
|
6,427
|
$
|
2
|
|
As of the end of fiscal 2016
|
|||||||||||||||||||
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Impairment
|
|||||||||||||||
Indefinite-lived trademarks
|
$
|
—
|
$
|
—
|
$
|
248
|
$
|
248
|
$
|
—
|
||||||||||
Goodwill
|
—
|
—
|
2,406
|
2,406
|
—
|
|||||||||||||||
Definite lived intangible assets
|
—
|
—
|
952
|
952
|
—
|
|||||||||||||||
Property, plant and equipment
|
—
|
—
|
2,224
|
2,224
|
3
|
|||||||||||||||
Total
|
$
|
—
|
$
|
—
|
$
|
5,830
|
$
|
5,830
|
$
|
3
|
|
As of the end of fiscal 2015
|
|||||||||||||||||||
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Impairment
|
|||||||||||||||
Indefinite-lived trademarks
|
$
|
—
|
$
|
—
|
$
|
207
|
$
|
207
|
$
|
—
|
||||||||||
Goodwill
|
—
|
—
|
1,652
|
1,652
|
—
|
|||||||||||||||
Definite lived intangible assets
|
—
|
—
|
486
|
486
|
—
|
|||||||||||||||
Property, plant and equipment
|
—
|
—
|
1,294
|
1,294
|
2
|
|||||||||||||||
Total
|
$
|
—
|
$
|
—
|
$
|
3,639
|
$
|
3,639
|
$
|
2
|
|
2017
|
2016
|
Amortization
Period
|
||||||
Goodwill
|
$
|
2,775
|
$
|
2,406
|
Indefinite lived
|
||||
|
|
||||||||
Customer relationships
|
1,922
|
1,690
|
5 – 15 years
|
||||||
Trademarks (indefinite lived)
|
248
|
248
|
Indefinite lived
|
||||||
Trademarks (definite lived)
|
87
|
78
|
Not more than 15 years
|
||||||
Other intangibles
|
184
|
182
|
5 – 14 years
|
||||||
Accumulated amortization
|
(1,155
|
)
|
(998
|
)
|
|
||||
Intangible assets, net
|
1,286
|
1,200
|
|
||||||
Total goodwill and intangible assets, net
|
$
|
4,061
|
$
|
3,606
|
|
|
Capital Leases
|
Operating Leases
|
||||||
2018
|
$
|
33
|
$
|
64
|
||||
2019
|
32
|
57
|
||||||
2020
|
28
|
47
|
||||||
2021
|
24
|
43
|
||||||
2022
|
17
|
37
|
||||||
Thereafter
|
13
|
178
|
||||||
|
147
|
$
|
426
|
|||||
Less: amount representing interest
|
(15
|
)
|
||||||
Present value of net minimum lease payments
|
$
|
132
|
|
2017
|
2016
|
||||||
Employee compensation, payroll, and other
|
$
|
147
|
$
|
152
|
||||
Interest
|
36
|
53
|
||||||
Rebates
|
58
|
54
|
||||||
Restructuring
|
19
|
13
|
||||||
Accrued taxes
|
90
|
40
|
||||||
Tax receivable agreement obligation
|
35
|
60
|
||||||
Other
|
78
|
77
|
||||||
|
$
|
463
|
$
|
449
|
|
2017
|
2016
|
||||||
Lease retirement obligation
|
$
|
37
|
$
|
34
|
||||
Sale-lease back deferred gain
|
24
|
26
|
||||||
Pension liability
|
56
|
88
|
||||||
Deferred purchase price
|
46
|
41
|
||||||
Tax receivable agreement obligation
|
34
|
114
|
||||||
Interest rate swaps
|
27
|
45
|
||||||
Other
|
76
|
69
|
||||||
|
$
|
300
|
$
|
417
|
|
2017
|
2016
|
2015
|
|||||||||
Current
|
||||||||||||
U.S.
|
||||||||||||
Federal
|
$
|
40
|
$
|
—
|
$
|
—
|
||||||
State
|
6
|
5
|
3
|
|||||||||
Non-U.S.
|
58
|
36
|
7
|
|||||||||
Total current
|
104
|
41
|
10
|
|||||||||
Deferred:
|
||||||||||||
U.S.
|
||||||||||||
Federal
|
34
|
35
|
31
|
|||||||||
State
|
(10
|
)
|
3
|
(4
|
)
|
|||||||
Non-U.S.
|
(19
|
)
|
(7
|
)
|
(1
|
)
|
||||||
Total deferred
|
5
|
31
|
26
|
|||||||||
Expense for income taxes
|
$
|
109
|
$
|
72
|
$
|
36
|
|
2017
|
2016
|
2015
|
|||||||||
U.S. Federal income tax expense at the statutory rate
|
$
|
157
|
$
|
108
|
$
|
43
|
||||||
Adjustments to reconcile to the income tax provision:
|
||||||||||||
U.S. state income tax expense
|
6
|
8
|
7
|
|||||||||
Changes in state valuation allowance
|
(9
|
)
|
2
|
(7
|
)
|
|||||||
Research and development credits
|
(7
|
)
|
(8
|
)
|
(5
|
)
|
||||||
Share-based compensation
|
(33
|
)
|
(15
|
)
|
—
|
|||||||
Permanent differences
|
2
|
2
|
—
|
|||||||||
Changes in foreign valuation allowance
|
3
|
(1
|
)
|
—
|
||||||||
Foreign income taxed in the U.S.
|
—
|
7
|
—
|
|||||||||
Manufacturing tax benefits
|
(6
|
)
|
—
|
—
|
||||||||
Deduction of worthless investment
|
—
|
(9
|
)
|
—
|
||||||||
Permanent foreign currency differences
|
(1
|
)
|
(8
|
)
|
—
|
|||||||
Rate differences between U.S. and foreign
|
(11
|
)
|
(14
|
)
|
(2
|
)
|
||||||
Other
|
8
|
—
|
—
|
|||||||||
Expense for income taxes
|
$
|
109
|
$
|
72
|
$
|
36
|
|
2017
|
2016
|
||||||
Deferred tax assets:
|
||||||||
Allowance for doubtful accounts
|
$
|
7
|
$
|
7
|
||||
Deferred gain on sale-leaseback
|
10
|
11
|
||||||
Accrued liabilities and reserves
|
89
|
129
|
||||||
Inventories
|
6
|
10
|
||||||
Net operating loss carryforward
|
292
|
371
|
||||||
Alternative minimum tax (AMT) credit carryforward
|
11
|
10
|
||||||
Research and development credit carryforward
|
18
|
36
|
||||||
Federal and state tax credits
|
9
|
2
|
||||||
Other
|
14
|
6
|
||||||
Total deferred tax assets
|
456
|
582
|
||||||
Valuation allowance
|
(93
|
)
|
(82
|
)
|
||||
Total deferred tax assets, net of valuation allowance
|
363
|
500
|
||||||
Deferred tax liabilities:
|
||||||||
Property, plant and equipment
|
277
|
282
|
||||||
Intangible assets
|
475
|
435
|
||||||
Debt extinguishment
|
27
|
53
|
||||||
Other
|
3
|
2
|
||||||
Total deferred tax liabilities
|
782
|
772
|
||||||
Net deferred tax liability
|
$
|
(419
|
)
|
$
|
(272
|
)
|
|
2017
|
2016
|
||||||
Beginning unrecognized tax benefits
|
$
|
62
|
$
|
13
|
||||
Gross increases – tax positions in prior periods
|
1
|
4
|
||||||
Gross increases – current period tax positions
|
4
|
1
|
||||||
Gross increases – from acquisitions
|
—
|
48
|
||||||
Gross decreases – tax positions in prior periods
|
(1
|
)
|
—
|
|||||
Settlements
|
(3
|
)
|
(1
|
)
|
||||
Lapse of statute of limitations
|
(4
|
)
|
(3
|
)
|
||||
Ending unrecognized tax benefits
|
$
|
59
|
$
|
62
|
|
Defined Benefit Pension Plans
|
Retiree Health Plans
|
||||||||||||||
|
2017
|
2016
|
2017
|
2016
|
||||||||||||
Change in Projected Benefit Obligations (PBO)
|
||||||||||||||||
|
||||||||||||||||
PBO at beginning of period
|
$
|
492
|
$
|
193
|
$
|
7
|
$
|
2
|
||||||||
Acquisitions
|
—
|
256
|
—
|
5
|
||||||||||||
Service cost
|
—
|
3
|
—
|
—
|
||||||||||||
Interest cost
|
11
|
15
|
—
|
—
|
||||||||||||
Actuarial loss (gain)
|
(15
|
)
|
44
|
—
|
—
|
|||||||||||
Currency impact
|
—
|
1
|
—
|
—
|
||||||||||||
Plan conversion
(a)
|
(139
|
)
|
—
|
—
|
—
|
|||||||||||
Benefit settlements
|
(3
|
)
|
—
|
—
|
—
|
|||||||||||
Benefits paid
|
(16
|
)
|
(20
|
)
|
—
|
—
|
||||||||||
PBO at end of period
|
$
|
330
|
$
|
492
|
$
|
7
|
$
|
7
|
||||||||
|
||||||||||||||||
Change in Fair Value of Plan Assets
|
||||||||||||||||
|
||||||||||||||||
Plan assets at beginning of period
|
$
|
418
|
$
|
142
|
$
|
—
|
$
|
—
|
||||||||
Acquisitions
|
—
|
253
|
—
|
—
|
||||||||||||
Currency impact
|
—
|
1
|
—
|
—
|
||||||||||||
Actual return on plan assets
|
22
|
37
|
—
|
—
|
||||||||||||
Company contributions
|
7
|
5
|
1
|
—
|
||||||||||||
Plan conversion
(a)
|
(136
|
)
|
—
|
—
|
—
|
|||||||||||
Benefit settlements
|
(2
|
)
|
—
|
—
|
—
|
|||||||||||
Benefits paid
|
(18
|
)
|
(20
|
)
|
(1
|
)
|
—
|
|||||||||
Plan assets at end of period
|
291
|
418
|
—
|
—
|
||||||||||||
Net amount recognized
|
$
|
(39
|
)
|
$
|
(74
|
)
|
$
|
(7
|
)
|
$
|
(7
|
)
|
|
Defined Benefit Pension Plans
|
Retiree Health Plan
|
||||||||||||||
(Percents)
|
2017
|
2016
|
2017
|
2016
|
||||||||||||
Weighted-average assumptions:
|
||||||||||||||||
Discount rate for benefit obligation
|
3.5
|
2.7
|
3.3
|
2.9
|
||||||||||||
Discount rate for net benefit cost
|
3.2
|
3.5
|
2.9
|
3.5
|
||||||||||||
Expected return on plan assets for net benefit costs
|
6.4
|
5.3
|
—
|
—
|
Fiscal 2017 Asset Category
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Cash and cash equivalents
|
$
|
6
|
$
|
—
|
$
|
—
|
$
|
6
|
||||||||
U.S. large cap comingled equity funds
|
—
|
61
|
—
|
61
|
||||||||||||
U.S. mid cap equity mutual funds
|
57
|
—
|
—
|
57
|
||||||||||||
U.S. small cap equity mutual funds
|
3
|
—
|
—
|
3
|
||||||||||||
International equity mutual funds
|
14
|
—
|
—
|
14
|
||||||||||||
Real estate equity investment funds
|
4
|
—
|
—
|
4
|
||||||||||||
Corporate bond mutual funds
|
17
|
—
|
—
|
17
|
||||||||||||
Corporate bonds
|
—
|
114
|
—
|
114
|
||||||||||||
Guaranteed investment account
|
—
|
—
|
9
|
9
|
||||||||||||
International fixed income funds
|
6
|
—
|
—
|
6
|
||||||||||||
Total
|
$
|
107
|
$
|
175
|
$
|
9
|
$
|
291
|
Fiscal 2016 Asset Category
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Cash and cash equivalents
|
$
|
9
|
$
|
—
|
$
|
—
|
$
|
9
|
||||||||
U.S. large cap comingled equity funds
|
—
|
55
|
—
|
55
|
||||||||||||
U.S. mid cap equity mutual funds
|
45
|
—
|
—
|
45
|
||||||||||||
U.S. small cap equity mutual funds
|
3
|
—
|
—
|
3
|
||||||||||||
International equity mutual funds
|
13
|
—
|
—
|
13
|
||||||||||||
Real estate equity investment funds
|
4
|
—
|
—
|
4
|
||||||||||||
Corporate bond mutual funds
|
20
|
—
|
—
|
20
|
||||||||||||
Corporate bonds
|
—
|
114
|
—
|
114
|
||||||||||||
Guaranteed investment account
|
—
|
—
|
10
|
10
|
||||||||||||
International fixed income funds
|
6
|
—
|
—
|
6
|
||||||||||||
International insurance contracts
|
—
|
—
|
139
|
139
|
||||||||||||
Total
|
$
|
100
|
$
|
169
|
$
|
149
|
$
|
418
|
|
Defined Benefit Pension Plans
|
Retiree Health Plan
|
||||||
2018
|
$
|
18
|
$
|
1
|
||||
2019
|
18
|
1
|
||||||
2020
|
18
|
1
|
||||||
2021
|
19
|
—
|
||||||
2022
|
19
|
—
|
||||||
2023-2027
|
96
|
2
|
|
2017
|
2016
|
2015
|
|||||||||
Service cost
|
$
|
—
|
$
|
3
|
$
|
1
|
||||||
Interest cost
|
11
|
16
|
8
|
|||||||||
Amortization of net actuarial loss
|
3
|
2
|
1
|
|||||||||
Settlement charge
|
—
|
—
|
2
|
|||||||||
Expected return on plan assets
|
(17
|
)
|
(20
|
)
|
(12
|
)
|
||||||
Net periodic benefit cost
|
$
|
(3
|
)
|
$
|
1
|
$
|
—
|
|
2017
|
2016
|
||||||
Asset Category
|
||||||||
Equity securities and equity-like instruments
|
48
|
%
|
29
|
%
|
||||
Debt securities and debt-like
|
47
|
33
|
||||||
International insurance contracts
|
—
|
33
|
||||||
Other
|
5
|
5
|
||||||
Total
|
100
|
%
|
100
|
%
|
|
Expected Total
Costs
|
Cumulative charges
through Fiscal 2017
|
To be Recognized
in Future
|
|||||||||
Severance and termination benefits
|
$
|
45
|
$
|
45
|
$
|
—
|
||||||
Facility exit costs
|
20
|
17
|
3
|
|||||||||
Asset impairment
|
7
|
7
|
—
|
|||||||||
Total
|
$
|
72
|
$
|
69
|
$
|
3
|
|
2017
|
2016
|
2015
|
|||||||||
Consumer Packaging
|
$
|
8
|
$
|
9
|
$
|
11
|
||||||
Health, Hygiene & Specialties
|
11
|
20
|
—
|
|||||||||
Engineered Materials
|
5
|
3
|
2
|
|||||||||
Consolidated
|
$
|
24
|
$
|
32
|
$
|
13
|
|
Employee
Severance
and Benefits
|
Facility
Exit
Costs
|
Non-cash impairment charges
|
Total
|
||||||||||||
Balance as of fiscal 2015
|
$
|
2
|
$
|
8
|
$
|
—
|
$
|
10
|
||||||||
Charges
|
23
|
6
|
3
|
32
|
||||||||||||
Non-cash asset impairment
|
—
|
—
|
(3
|
)
|
(3
|
)
|
||||||||||
Cash payments
|
(18
|
)
|
(8
|
)
|
—
|
(26
|
)
|
|||||||||
Balance as of fiscal 2016
|
$
|
7
|
$
|
6
|
$
|
—
|
$
|
13
|
||||||||
Acquisition
|
13
|
—
|
—
|
13
|
||||||||||||
Charges
|
18
|
4
|
2
|
24
|
||||||||||||
Non-cash asset impairment
|
—
|
—
|
(2
|
)
|
(2
|
)
|
||||||||||
Cash payments
|
(24
|
)
|
(5
|
)
|
—
|
(29
|
)
|
|||||||||
Balance as of fiscal 2017
|
$
|
14
|
$
|
5
|
$
|
—
|
$
|
19
|
|
2017
|
2016
|
||||||||||||||
|
Number of Shares
(in thousands)
|
Weighted Average Exercise Price
|
Number of Shares
(in thousands)
|
Weighted Average Exercise Price
|
||||||||||||
Options outstanding, beginning of period
|
11,716
|
$
|
21.44
|
11,351
|
$
|
17.71
|
||||||||||
Options granted
|
1,820
|
49.53
|
2,805
|
30.27
|
||||||||||||
Options exercised
|
(2,562
|
)
|
12.07
|
(2,061
|
)
|
12.57
|
||||||||||
Options forfeited or cancelled
|
(214
|
)
|
33.52
|
(379
|
)
|
23.37
|
||||||||||
Options outstanding, end of period
|
10,760
|
$
|
28.18
|
11,716
|
$
|
21.44
|
||||||||||
|
||||||||||||||||
Option price range at end of period
|
$
|
3.04-49.53
|
$
|
3.04-45.62
|
||||||||||||
Options exercisable at end of period
|
4,108
|
4,573
|
||||||||||||||
Options available for grant at period end
|
2,875
|
4,695
|
||||||||||||||
Weighted average fair value of options granted during period
|
$
|
15.52
|
$
|
8.68
|
|
2017
|
2016
|
2015
|
|||||||||
Risk-free interest rate
|
2.2
|
%
|
1.2
|
%
|
1.6
|
%
|
||||||
Dividend yield
|
0.00
|
%
|
0.00
|
%
|
0.00
|
%
|
||||||
Volatility factor
|
.26
|
.26
|
.30
|
|||||||||
Expected option life
|
7 years
|
7 years
|
7 years
|
Range of
Exercise Prices
|
Number
Outstanding
(in thousands)
|
Intrinsic Value
of Outstanding
(in millions)
|
Weighted Remaining Contractual Life
|
Weighted
Exercise Price
|
Number
Exercisable
(in thousands)
|
Intrinsic Value
of Exercisable
(in millions)
|
Unrecognized
Compensation
(in millions)
|
Weighted
Recognition Period
|
|||||||||||||||||||||
$
|
3.04-49.53
|
10,760
|
$
|
306
|
7 years
|
$
|
28.18
|
4,108
|
$
|
146
|
$
|
35
|
2 years
|
|
2017
|
2016
|
2015
|
|||||||||
Net sales
|
||||||||||||
Consumer Packaging
|
$
|
2,351
|
$
|
2,462
|
$
|
2,530
|
||||||
Health, Hygiene & Specialties
|
2,369
|
2,400
|
650
|
|||||||||
Engineered Materials
|
2,375
|
1,627
|
1,701
|
|||||||||
Total
|
$
|
7,095
|
$
|
6,489
|
$
|
4,881
|
||||||
|
||||||||||||
Operating income
|
||||||||||||
Consumer Packaging
|
$
|
200
|
$
|
203
|
$
|
200
|
||||||
Health, Hygiene & Specialties
|
216
|
196
|
59
|
|||||||||
Engineered Materials
|
316
|
182
|
149
|
|||||||||
Total
|
$
|
732
|
$
|
581
|
$
|
408
|
||||||
|
||||||||||||
Depreciation and amortization
|
||||||||||||
Consumer Packaging
|
$
|
231
|
$
|
244
|
$
|
230
|
||||||
Health, Hygiene & Specialties
|
184
|
199
|
39
|
|||||||||
Engineered Materials
|
106
|
82
|
81
|
|||||||||
Total
|
$
|
521
|
$
|
525
|
$
|
350
|
|
2017
|
2016
|
||||||
Total assets:
|
||||||||
Consumer Packaging
|
$
|
3,177
|
$
|
3,315
|
||||
Health, Hygiene & Specialties
|
3,496
|
3,504
|
||||||
Engineered Materials
|
1,803
|
834
|
||||||
Total assets
|
$
|
8,476
|
$
|
7,653
|
||||
Goodwill:
|
||||||||
Consumer Packaging
|
$
|
1,411
|
$
|
1,410
|
||||
Health, Hygiene & Specialties
|
819
|
808
|
||||||
Engineered Materials
|
545
|
188
|
||||||
Total goodwill
|
$
|
2,775
|
$
|
2,406
|
|
2017
|
2016
|
2015
|
|||||||||
Net sales:
|
||||||||||||
North America
|
$
|
5,850
|
$
|
5,250
|
$
|
4,692
|
||||||
South America
|
333
|
336
|
6
|
|||||||||
Europe
|
646
|
661
|
118
|
|||||||||
Asia
|
266
|
242
|
65
|
|||||||||
Total net sales
|
$
|
7,095
|
$
|
6,489
|
$
|
4,881
|
|
2017
|
2016
|
||||||
Long-lived assets:
|
||||||||
North America
|
$
|
5,303
|
$
|
4,724
|
||||
South America
|
418
|
386
|
||||||
Europe
|
467
|
452
|
||||||
Asia
|
284
|
299
|
||||||
Total Long-lived assets
|
$
|
6,472
|
$
|
5,861
|
(in percentages)
|
2017
|
2016
|
2015
|
|||||||||||
Net sales:
|
||||||||||||||
Rigid Open Top
|
43
|
%
|
42
|
%
|
42
|
%
|
||||||||
Rigid Closed Top
|
|
57
|
|
58
|
58
|
|||||||||
Consumer Packaging
|
100
|
%
|
100
|
%
|
100
|
%
|
||||||||
Health
|
22
|
%
|
20
|
%
|
27
|
%
|
||||||||
Hygiene
|
|
44
|
|
45
|
43
|
|||||||||
Specialties
|
|
34
|
|
35
|
30
|
|||||||||
Health, Hygiene & Specialties
|
100
|
%
|
100
|
%
|
100
|
%
|
||||||||
Core Films
|
49
|
%
|
72
|
%
|
72
|
%
|
||||||||
Retail & Industrial
|
|
51
|
|
28
|
28
|
|||||||||
Engineered Materials
|
100
|
%
|
100
|
%
|
100
|
%
|
(in millions, except per share amounts)
|
2017
|
2016
|
2015
|
|||||||||
Numerator
|
||||||||||||
Net income attributable to the Company
|
$
|
340
|
$
|
236
|
$
|
86
|
||||||
Denominator
|
||||||||||||
Weighted average common shares outstanding - basic
|
127.6
|
120.8
|
119.1
|
|||||||||
Dilutive shares
|
5.0
|
4.2
|
4.3
|
|||||||||
Weighted average common and common equivalent shares outstanding - diluted
|
132.6
|
125.0
|
123.4
|
|||||||||
|
||||||||||||
Per common share income
|
||||||||||||
Basic
|
$
|
2.66
|
$
|
1.95
|
$
|
0.72
|
||||||
Diluted
|
$
|
2.56
|
$
|
1.89
|
$
|
0.70
|
|
Fiscal 2017
|
|||||||||||||||||||||||
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Net sales
|
$
|
—
|
$
|
587
|
$
|
4,861
|
$
|
1,647
|
$
|
—
|
$
|
7,095
|
||||||||||||
Cost of goods sold
|
—
|
438
|
3,920
|
1,333
|
—
|
5,691
|
||||||||||||||||||
Selling, general and administrative
|
—
|
55
|
335
|
104
|
—
|
494
|
||||||||||||||||||
Amortization of intangibles
|
—
|
6
|
120
|
28
|
—
|
154
|
||||||||||||||||||
Restructuring and impairment charges
|
—
|
—
|
14
|
10
|
—
|
24
|
||||||||||||||||||
Operating income
|
—
|
88
|
472
|
172
|
—
|
732
|
||||||||||||||||||
Debt extinguishment
|
—
|
10
|
—
|
—
|
—
|
10
|
||||||||||||||||||
Other (income) expense, net
|
—
|
(2
|
)
|
(1
|
)
|
7
|
—
|
4
|
||||||||||||||||
Interest expense, net
|
—
|
12
|
229
|
28
|
—
|
269
|
||||||||||||||||||
Equity in net income of subsidiaries
|
(449
|
)
|
(341
|
)
|
—
|
—
|
790
|
—
|
||||||||||||||||
Income (loss) before income taxes
|
449
|
409
|
244
|
137
|
(790
|
)
|
449
|
|||||||||||||||||
Income tax expense (benefit)
|
109
|
69
|
—
|
40
|
(109
|
)
|
109
|
|||||||||||||||||
Net income (loss)
|
$
|
340
|
$
|
340
|
$
|
244
|
$
|
97
|
$
|
(681
|
)
|
$
|
340
|
|||||||||||
Currency translation
|
34
|
—
|
—
|
34
|
(34
|
)
|
34
|
|||||||||||||||||
Interest rate hedges
|
28
|
28
|
—
|
—
|
(28
|
)
|
28
|
|||||||||||||||||
Defined benefit pension and retiree health benefit plans
|
38
|
25
|
—
|
13
|
(38
|
)
|
38
|
|||||||||||||||||
Provision for income taxes related to other comprehensive income items
|
(20
|
)
|
(20
|
)
|
—
|
—
|
20
|
(20
|
)
|
|||||||||||||||
Comprehensive income (loss)
|
$
|
420
|
$
|
373
|
$
|
244
|
$
|
144
|
$
|
(761
|
)
|
$
|
420
|
|
Fiscal 2016
|
|||||||||||||||||||||||
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Net sales
|
$
|
—
|
$
|
599
|
$
|
4,220
|
$
|
1,670
|
$
|
—
|
$
|
6,489
|
||||||||||||
Cost of goods sold
|
—
|
476
|
3,388
|
1,338
|
—
|
5,202
|
||||||||||||||||||
Selling, general and administrative
|
—
|
72
|
324
|
135
|
—
|
531
|
||||||||||||||||||
Amortization of intangibles
|
—
|
8
|
107
|
28
|
—
|
143
|
||||||||||||||||||
Restructuring and impairment charges
|
—
|
—
|
28
|
4
|
—
|
32
|
||||||||||||||||||
Operating income
|
—
|
43
|
373
|
165
|
—
|
581
|
||||||||||||||||||
Debt extinguishment
|
—
|
4
|
—
|
—
|
—
|
4
|
||||||||||||||||||
Other (income) expense, net
|
—
|
11
|
(211
|
)
|
178
|
—
|
(22
|
)
|
||||||||||||||||
Interest expense, net
|
—
|
36
|
205
|
50
|
—
|
291
|
||||||||||||||||||
Equity in net income of subsidiaries
|
(308
|
)
|
(279
|
)
|
—
|
—
|
587
|
—
|
||||||||||||||||
Income (loss) before income taxes
|
308
|
271
|
379
|
(63
|
)
|
(587
|
)
|
308
|
||||||||||||||||
Income tax expense (benefit)
|
72
|
34
|
8
|
29
|
(71
|
)
|
72
|
|||||||||||||||||
Net income (loss)
|
$
|
236
|
$
|
237
|
$
|
371
|
$
|
(92
|
)
|
$
|
(516
|
)
|
$
|
236
|
||||||||||
Currency translation
|
(1
|
)
|
—
|
—
|
(1
|
)
|
1
|
(1
|
)
|
|||||||||||||||
Interest rate hedges
|
(14
|
)
|
(14
|
)
|
—
|
—
|
14
|
(14
|
)
|
|||||||||||||||
Defined benefit pension and retiree health benefit plans
|
(23
|
)
|
(10
|
)
|
—
|
(13
|
)
|
23
|
(23
|
)
|
||||||||||||||
Provision for income taxes related to other comprehensive income items
|
9
|
9
|
—
|
—
|
(9
|
)
|
9
|
|||||||||||||||||
Comprehensive income (loss)
|
$
|
207
|
$
|
222
|
$
|
371
|
$
|
(106
|
)
|
$
|
(487
|
)
|
$
|
207
|
|
Fiscal 2015
|
|||||||||||||||||||||||
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Net sales
|
$
|
—
|
$
|
622
|
$
|
3,807
|
$
|
452
|
$
|
—
|
$
|
4,881
|
||||||||||||
Cost of goods sold
|
—
|
526
|
3,128
|
358
|
—
|
4,012
|
||||||||||||||||||
Selling, general and administrative
|
—
|
64
|
244
|
49
|
—
|
357
|
||||||||||||||||||
Amortization of intangibles
|
—
|
8
|
75
|
8
|
—
|
91
|
||||||||||||||||||
Restructuring and impairment charges
|
—
|
—
|
13
|
—
|
—
|
13
|
||||||||||||||||||
Operating income
|
—
|
24
|
347
|
37
|
—
|
408
|
||||||||||||||||||
Debt extinguishment
|
—
|
94
|
—
|
—
|
—
|
94
|
||||||||||||||||||
Other (income) expense, net
|
(3
|
)
|
—
|
3
|
1
|
—
|
1
|
|||||||||||||||||
Interest expense, net
|
—
|
25
|
148
|
18
|
—
|
191
|
||||||||||||||||||
Equity in net income of subsidiaries
|
(119
|
)
|
(210
|
)
|
—
|
—
|
329
|
—
|
||||||||||||||||
Income (loss) before income taxes
|
122
|
115
|
196
|
18
|
(329
|
)
|
122
|
|||||||||||||||||
Income tax expense (benefit)
|
36
|
25
|
—
|
4
|
(29
|
)
|
36
|
|||||||||||||||||
Net income (loss)
|
$
|
86
|
$
|
90
|
$
|
196
|
$
|
14
|
$
|
(300
|
)
|
$
|
86
|
|||||||||||
Currency translation
|
(45
|
)
|
—
|
—
|
(45
|
)
|
45
|
(45
|
)
|
|||||||||||||||
Interest rate hedges
|
(33
|
)
|
(33
|
)
|
—
|
—
|
33
|
(33
|
)
|
|||||||||||||||
Defined benefit pension and retiree health benefit plans
|
(16
|
)
|
(16
|
)
|
—
|
—
|
16
|
(16
|
)
|
|||||||||||||||
Provision for income taxes related to other comprehensive income items
|
18
|
18
|
—
|
—
|
(18
|
)
|
18
|
|||||||||||||||||
Comprehensive income (loss)
|
$
|
10
|
$
|
59
|
$
|
196
|
$
|
(31
|
)
|
$
|
(224
|
)
|
$
|
10
|
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Assets
|
||||||||||||||||||||||||
Current assets:
|
||||||||||||||||||||||||
Cash and cash equivalents
|
$
|
—
|
$
|
18
|
$
|
12
|
$
|
276
|
$
|
—
|
$
|
306
|
||||||||||||
Accounts receivable, net
|
—
|
49
|
503
|
295
|
—
|
847
|
||||||||||||||||||
Intercompany receivable
|
512
|
2,217
|
—
|
—
|
(2,729
|
)
|
—
|
|||||||||||||||||
Inventories
|
—
|
42
|
567
|
153
|
—
|
762
|
||||||||||||||||||
Prepaid expenses and other current
|
—
|
7
|
31
|
51
|
—
|
89
|
||||||||||||||||||
Total current assets
|
512
|
2,333
|
1,113
|
775
|
(2,729
|
)
|
2,004
|
|||||||||||||||||
Property, plant and equipment, net
|
—
|
80
|
1,564
|
722
|
—
|
2,366
|
||||||||||||||||||
Goodwill and intangible assets, net
|
—
|
79
|
3,476
|
506
|
—
|
4,061
|
||||||||||||||||||
Investment in subsidiaries
|
992
|
5,240
|
1,105
|
—
|
(7,337
|
)
|
—
|
|||||||||||||||||
Other assets
|
—
|
16
|
2
|
27
|
—
|
45
|
||||||||||||||||||
Total assets
|
$
|
1,504
|
$
|
7,748
|
$
|
7,260
|
$
|
2,030
|
$
|
(10,066
|
)
|
$
|
8,476
|
|||||||||||
Liabilities and equity
|
||||||||||||||||||||||||
Current liabilities:
|
||||||||||||||||||||||||
Accounts payable
|
$
|
—
|
$
|
43
|
$
|
356
|
$
|
239
|
$
|
—
|
$
|
638
|
||||||||||||
Accrued expenses and other current liabilities
|
36
|
168
|
181
|
78
|
—
|
463
|
||||||||||||||||||
Intercompany payable
|
—
|
—
|
2,667
|
62
|
(2,729
|
)
|
—
|
|||||||||||||||||
Current portion of long-term debt
|
—
|
32
|
—
|
1
|
—
|
33
|
||||||||||||||||||
Total current liabilities
|
36
|
243
|
3,204
|
380
|
(2,729
|
)
|
1,134
|
|||||||||||||||||
Long-term debt, less current portion
|
—
|
5,579
|
29
|
—
|
—
|
5,608
|
||||||||||||||||||
Deferred income taxes
|
419
|
—
|
—
|
—
|
—
|
419
|
||||||||||||||||||
Other long-term liabilities
|
34
|
128
|
70
|
68
|
—
|
300
|
||||||||||||||||||
Total long-term liabilities
|
453
|
5,707
|
99
|
68
|
—
|
6,327
|
||||||||||||||||||
Total liabilities
|
489
|
5,950
|
3,303
|
448
|
(2,729
|
)
|
7,461
|
|||||||||||||||||
|
||||||||||||||||||||||||
Total equity (deficit)
|
1,015
|
1,798
|
3,957
|
1,582
|
(7,337
|
)
|
1,015
|
|||||||||||||||||
Total liabilities and equity (deficit)
|
$
|
1,504
|
$
|
7,748
|
$
|
7,260
|
$
|
2,030
|
$
|
(10,066
|
)
|
$
|
8,476
|
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Assets
|
||||||||||||||||||||||||
Current assets:
|
||||||||||||||||||||||||
Cash and cash equivalents
|
$
|
—
|
$
|
102
|
$
|
5
|
$
|
216
|
$
|
—
|
$
|
323
|
||||||||||||
Accounts receivable, net
|
—
|
(2
|
)
|
423
|
283
|
—
|
704
|
|||||||||||||||||
Intercompany receivable
|
364
|
2,797
|
—
|
—
|
(3,161
|
)
|
—
|
|||||||||||||||||
Inventories
|
—
|
46
|
477
|
137
|
—
|
660
|
||||||||||||||||||
Prepaid expenses and other current
|
—
|
15
|
40
|
50
|
—
|
105
|
||||||||||||||||||
Total current assets
|
364
|
2,958
|
945
|
686
|
(3,161
|
)
|
1,792
|
|||||||||||||||||
Property, plant and equipment, net
|
—
|
76
|
1,434
|
714
|
—
|
2,224
|
||||||||||||||||||
Goodwill and intangible assets, net
|
—
|
85
|
2,988
|
533
|
—
|
3,606
|
||||||||||||||||||
Investment in subsidiaries
|
302
|
4,010
|
1,105
|
—
|
(5,417
|
)
|
—
|
|||||||||||||||||
Other assets
|
—
|
6
|
1
|
24
|
—
|
31
|
||||||||||||||||||
Total assets
|
$
|
666
|
$
|
7,135
|
$
|
6,473
|
$
|
1,957
|
$
|
(8,578
|
)
|
$
|
7,653
|
|||||||||||
Liabilities and equity
|
||||||||||||||||||||||||
Current liabilities:
|
||||||||||||||||||||||||
Accounts payable
|
$
|
—
|
$
|
(7
|
)
|
$
|
327
|
$
|
219
|
$
|
—
|
$
|
539
|
|||||||||||
Accrued expenses and other current liabilities
|
60
|
172
|
153
|
64
|
—
|
449
|
||||||||||||||||||
Intercompany payable
|
—
|
—
|
2,992
|
169
|
(3,161
|
)
|
—
|
|||||||||||||||||
Current portion of long-term debt
|
—
|
42
|
—
|
1
|
—
|
43
|
||||||||||||||||||
Total current liabilities
|
60
|
207
|
3,472
|
453
|
(3,161
|
)
|
1,031
|
|||||||||||||||||
Long-term debt, less current portion
|
—
|
5,681
|
29
|
2
|
—
|
5,712
|
||||||||||||||||||
Deferred income taxes
|
272
|
—
|
—
|
—
|
—
|
272
|
||||||||||||||||||
Other long-term liabilities
|
113
|
141
|
97
|
66
|
—
|
417
|
||||||||||||||||||
Total long-term liabilities
|
385
|
5,822
|
126
|
68
|
—
|
6,401
|
||||||||||||||||||
Total liabilities
|
445
|
6,029
|
3,598
|
521
|
(3,161
|
)
|
7,432
|
|||||||||||||||||
|
—
|
—
|
—
|
—
|
—
|
—
|
||||||||||||||||||
Total equity (deficit)
|
221
|
1,106
|
2,875
|
1,436
|
(5,417
|
)
|
221
|
|||||||||||||||||
Total liabilities and equity (deficit)
|
$
|
666
|
$
|
7,135
|
$
|
6,473
|
$
|
1,957
|
$
|
(8,578
|
)
|
$
|
7,653
|
|
Fiscal 2017
|
|||||||||||||||||||||||
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Cash Flow from Operating Activities
|
$
|
—
|
$
|
128
|
$
|
647
|
$
|
200
|
$
|
—
|
$
|
975
|
||||||||||||
|
||||||||||||||||||||||||
Cash Flow from Investing Activities
|
||||||||||||||||||||||||
Additions to property, plant and equipment
|
—
|
(19
|
)
|
(209
|
)
|
(41
|
)
|
—
|
(269
|
)
|
||||||||||||||
Proceeds from sale of assets
|
—
|
1
|
5
|
—
|
—
|
6
|
||||||||||||||||||
Investment in Parent
|
—
|
—
|
—
|
—
|
—
|
—
|
||||||||||||||||||
(Contributions) distributions to/from subsidiaries
|
(31
|
)
|
(484
|
)
|
—
|
—
|
515
|
—
|
||||||||||||||||
Intercompany advances (repayments)
|
—
|
428
|
—
|
—
|
(428
|
)
|
—
|
|||||||||||||||||
Acquisition of business, net of cash acquired
|
—
|
—
|
(515
|
)
|
—
|
—
|
(515
|
)
|
||||||||||||||||
Other investing activities, net
|
—
|
4
|
—
|
—
|
—
|
4
|
||||||||||||||||||
Net cash from investing activities
|
(31
|
)
|
(70
|
)
|
(719
|
)
|
(41
|
)
|
87
|
(774
|
)
|
|||||||||||||
|
||||||||||||||||||||||||
Cash Flow from Financing Activities
|
||||||||||||||||||||||||
Proceeds from long-term borrowings
|
—
|
495
|
—
|
—
|
—
|
495
|
||||||||||||||||||
Repayment of long-term borrowings
|
—
|
(632
|
)
|
(3
|
)
|
(1
|
)
|
—
|
(636
|
)
|
||||||||||||||
Proceed from issuance of common stock
|
31
|
—
|
—
|
—
|
—
|
31
|
||||||||||||||||||
Payment of tax receivable agreement
|
(111
|
)
|
—
|
—
|
—
|
—
|
(111
|
)
|
||||||||||||||||
Debt financing costs
|
—
|
(5
|
)
|
—
|
—
|
—
|
(5
|
)
|
||||||||||||||||
Purchase of non-controlling interest
|
—
|
—
|
—
|
—
|
—
|
—
|
||||||||||||||||||
Changes in intercompany balances
|
111
|
—
|
(433
|
)
|
(106
|
)
|
428
|
—
|
||||||||||||||||
Contribution from Parent
|
—
|
—
|
515
|
—
|
(515
|
)
|
—
|
|||||||||||||||||
Net cash from financing activities
|
31
|
(142
|
)
|
79
|
(107
|
)
|
(87
|
)
|
(226
|
)
|
||||||||||||||
Effect of currency translation on cash
|
—
|
—
|
—
|
8
|
—
|
8
|
||||||||||||||||||
Net change in cash and cash equivalents
|
—
|
(84
|
)
|
7
|
60
|
—
|
(17
|
)
|
||||||||||||||||
Cash and cash equivalents at beginning of period
|
—
|
102
|
5
|
216
|
—
|
323
|
||||||||||||||||||
Cash and cash equivalents at end of period
|
$
|
—
|
$
|
18
|
$
|
12
|
$
|
276
|
$
|
—
|
$
|
306
|
|
Fiscal 2016
|
|||||||||||||||||||||||
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Cash Flow from Operating Activities
|
$
|
—
|
$
|
103
|
$
|
566
|
$
|
188
|
$
|
—
|
$
|
857
|
||||||||||||
|
||||||||||||||||||||||||
Cash Flow from Investing Activities
|
||||||||||||||||||||||||
Additions to property, plant and equipment
|
—
|
(13
|
)
|
(239
|
)
|
(36
|
)
|
—
|
(288
|
)
|
||||||||||||||
Proceeds from sale of assets
|
—
|
—
|
5
|
—
|
—
|
5
|
||||||||||||||||||
Investment in Parent
|
—
|
—
|
—
|
—
|
—
|
—
|
||||||||||||||||||
(Contributions) distributions to/from subsidiaries
|
(26
|
)
|
(2,234
|
)
|
—
|
—
|
2,260
|
—
|
||||||||||||||||
Intercompany advances (repayments)
|
—
|
96
|
—
|
—
|
(96
|
)
|
—
|
|||||||||||||||||
Acquisition of business, net of cash acquired
|
—
|
—
|
(368
|
)
|
(1,915
|
)
|
—
|
(2,283
|
)
|
|||||||||||||||
Other investing activities, net
|
—
|
(13
|
)
|
—
|
—
|
—
|
(13
|
)
|
||||||||||||||||
Net cash from investing activities
|
(26
|
)
|
(2,164
|
)
|
(602
|
)
|
(1,951
|
)
|
2,164
|
(2,579
|
)
|
|||||||||||||
|
||||||||||||||||||||||||
Cash Flow from Financing Activities
|
||||||||||||||||||||||||
Proceeds from long-term borrowings
|
—
|
2,490
|
—
|
—
|
—
|
2,490
|
||||||||||||||||||
Repayment of long-term borrowings
|
—
|
(450
|
)
|
(23
|
)
|
(51
|
)
|
—
|
(524
|
)
|
||||||||||||||
Proceed from issuance of common stock
|
26
|
—
|
—
|
—
|
—
|
26
|
||||||||||||||||||
Payment of tax receivable agreement
|
(57
|
)
|
—
|
—
|
—
|
—
|
(57
|
)
|
||||||||||||||||
Debt financing costs
|
—
|
(40
|
)
|
—
|
—
|
—
|
(40
|
)
|
||||||||||||||||
Purchase of non-controlling interest
|
—
|
—
|
(66
|
)
|
(12
|
)
|
—
|
(78
|
)
|
|||||||||||||||
Changes in intercompany balances
|
57
|
—
|
(238
|
)
|
85
|
96
|
—
|
|||||||||||||||||
Contribution from Parent
|
—
|
—
|
368
|
1,892
|
(2,260
|
)
|
—
|
|||||||||||||||||
Net cash from financing activities
|
26
|
2,000
|
41
|
1,914
|
(2,164
|
)
|
1,817
|
|||||||||||||||||
Effect of currency translation on cash
|
—
|
—
|
—
|
—
|
—
|
—
|
||||||||||||||||||
Net change in cash and cash equivalents
|
—
|
(61
|
)
|
5
|
151
|
—
|
95
|
|||||||||||||||||
Cash and cash equivalents at beginning of period
|
—
|
163
|
—
|
65
|
—
|
228
|
||||||||||||||||||
Cash and cash equivalents at end of period
|
$
|
—
|
$
|
102
|
$
|
5
|
$
|
216
|
$
|
—
|
$
|
323
|
|
Fiscal 2015
|
|||||||||||||||||||||||
|
Parent
|
Issuer
|
Guarantor
Subsidiaries
|
Non-
Guarantor
Subsidiaries
|
Eliminations
|
Total
|
||||||||||||||||||
Cash Flow from Operating Activities
|
$
|
—
|
$
|
60
|
$
|
542
|
$
|
34
|
$
|
1
|
$
|
637
|
||||||||||||
|
||||||||||||||||||||||||
Cash Flow from Investing Activities
|
||||||||||||||||||||||||
Additions to property, plant and equipment
|
—
|
(13
|
)
|
(164
|
)
|
(3
|
)
|
—
|
(180
|
)
|
||||||||||||||
Proceeds from sale of assets
|
—
|
—
|
18
|
—
|
—
|
18
|
||||||||||||||||||
Investment in Parent
|
—
|
—
|
—
|
—
|
—
|
—
|
||||||||||||||||||
(Contributions) distributions to/from subsidiaries
|
(18
|
)
|
18
|
—
|
—
|
—
|
—
|
|||||||||||||||||
Intercompany advances (repayments)
|
—
|
368
|
—
|
—
|
(368
|
)
|
—
|
|||||||||||||||||
Acquisition of business, net of cash acquired
|
—
|
—
|
(3
|
)
|
—
|
—
|
(3
|
)
|
||||||||||||||||
Net cash from investing activities
|
(18
|
)
|
373
|
(149
|
)
|
(3
|
)
|
(368
|
)
|
(165
|
)
|
|||||||||||||
|
||||||||||||||||||||||||
Cash Flow from Financing Activities
|
||||||||||||||||||||||||
Proceeds from long-term borrowings
|
—
|
693
|
—
|
—
|
—
|
693
|
||||||||||||||||||
Repayment of long-term borrowings
|
—
|
(947
|
)
|
—
|
(4
|
)
|
—
|
(951
|
)
|
|||||||||||||||
Proceeds from issuance of common stock
|
18
|
—
|
—
|
—
|
—
|
18
|
||||||||||||||||||
Payment of tax receivable agreement
|
(39
|
)
|
—
|
—
|
—
|
—
|
(39
|
)
|
||||||||||||||||
Debt financing costs
|
—
|
(86
|
)
|
—
|
—
|
—
|
(86
|
)
|
||||||||||||||||
Changes in intercompany balances
|
39
|
—
|
(408
|
)
|
2
|
367
|
—
|
|||||||||||||||||
Net cash from financing activities
|
18
|
(340
|
)
|
(408
|
)
|
(2
|
)
|
367
|
(365
|
)
|
||||||||||||||
Effect of currency translation on cash
|
—
|
—
|
—
|
(8
|
)
|
—
|
(8
|
)
|
||||||||||||||||
Net change in cash and cash equivalents
|
—
|
93
|
(15
|
)
|
21
|
—
|
99
|
|||||||||||||||||
Cash and cash equivalents at beginning of period
|
—
|
70
|
15
|
44
|
—
|
129
|
||||||||||||||||||
Cash and cash equivalents at end of period
|
$
|
—
|
$
|
163
|
$
|
—
|
$
|
65
|
$
|
—
|
$
|
228
|
|
2017
|
2016
|
||||||||||||||||||||||||||||||
|
First
|
Second
|
Third
|
Fourth
|
First
|
Second
|
Third
|
Fourth
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Net sales
|
$
|
1,502
|
$
|
1,806
|
$
|
1,906
|
$
|
1,881
|
$
|
1,612
|
$
|
1,614
|
$
|
1,645
|
$
|
1,618
|
||||||||||||||||
Cost of goods sold
|
1,206
|
1,453
|
1,518
|
1,514
|
1,320
|
1,269
|
1,296
|
1,317
|
||||||||||||||||||||||||
Gross profit
|
296
|
353
|
388
|
367
|
292
|
345
|
349
|
301
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Net income
|
$
|
51
|
$
|
72
|
$
|
107
|
$
|
110
|
$
|
4
|
$
|
59
|
$
|
96
|
$
|
77
|
||||||||||||||||
Net income per share:
|
||||||||||||||||||||||||||||||||
Basic
|
0.42
|
0.56
|
0.82
|
0.84
|
0.03
|
0.49
|
0.79
|
0.63
|
||||||||||||||||||||||||
Diluted
|
0.40
|
0.54
|
0.79
|
0.81
|
0.03
|
0.47
|
0.76
|
0.61
|
Exhibit No
|
Description of Exhibit
|
||
|
Agreement and Plan of Merger, dated as of July 30, 2015, by and among AVINTIV Inc., Berry Plastics Group, Inc., Berry Plastics Acquisition Corporation IX and Blackstone Capital Partners (Cayman) V L.P., as the security holder representative (the Exhibits and Disclosure Schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be provided to the SEC upon request) (incorporated by reference to Exhibit 2.1 to the Company's Form 8-K filed on August 5, 2015).
|
||
|
Agreement and Plan of Merger, dated as of August 24, 2016, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, Berry Plastics Acquisition Corporation XVI, Berry Plastics Acquisition Corporation XV, LLC and AEP Industries Inc. (the Exhibits and Disclosure Schedules have been omitted pursuant to Item 601(b)(2) of Regulation SK and will be provided to the SEC upon request) (incorporated by reference to Annex A Amendment No. 1 to the Company's Registration Statement S-4 (Reg. No. 333-2138030 filed on November 8, 2016).
|
||
|
|||
|
Amendment No. 1 to the Agreement and Plan of Merger, dated as of December 7, 2016, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, Berry Plastics Acquisition Corporation XVI, Berry Plastics Acquisition Corporation XV, LLC and AEP Industries Inc. (incorporated by reference to Annex A of Amendment No. 2 to Berry's Registration Statement on Form S-4 (Reg. No. 333-213803) filed on December 9, 2016).
|
||
|
Amended and Restated Certificate of Incorporation of Berry Plastics Group, Inc., as amended through April 13, 2017.
|
||
|
|||
|
Amended and Restated Bylaws of Berry Plastics Group, Inc., as amended and restated on March 2, 2017. (incorporated by reference to Exhibit 3.2 to the Company's Form 8-K filed on March 3, 2017).
|
||
|
Indenture, dated as of May 12, 2014, by and among Berry Plastics Corporation, the guarantors party thereto and U.S. Bank National Association, as Trustee, relating to the 5.50% second priority senior secured notes due 2022 (incorporated herein by reference to Exhibit 4.2 of the Company's Current Report on Form 8-K filed on May 13, 2014).
|
||
|
|||
|
Indenture, dated as of June 5, 2015, by and among Berry Plastics Corporation, the guarantors party thereto and U.S. Bank National Association, as Trustee, relating to the 5.125% second priority senior secured notes due 2023 (incorporated by reference to Exhibit 4.2 to the Company's Form 8-K filed on June 5, 2015).
|
||
|
|||
|
Indenture, dated as of October 1, 2015, by and between Berry Plastics Escrow Corporation, as Issuer, and U.S. Bank National Association, as Trustee, relating to the 6.00% second priority senior secured notes due 2022 (incorporated by reference to Exhibit 4.1 to the Company's Form 8-K filed on October 6, 2015).
|
||
|
|||
|
First Supplemental Indenture, dated as of October 1, 2015, by and between Berry Plastics Corporation, Berry Plastics Group, Inc., the subsidiaries of Berry Plastics Corporation party thereto, Berry Plastics Escrow Corporation, and U.S. Bank National Association, as Trustee, relating to the Indenture, by and between Berry Plastics Escrow Corporation, as Issuer, and U.S. Bank, National Association, as Trustee, relating to the 6.00% second priority senior secured notes due 2022, dated October 1, 2015 (incorporated by reference to Exhibit 4.1 to the Company's Form 8-K filed on October 6, 2015).
|
||
|
|||
|
Registration Rights Agreement, dated as of October 1, 2015, by and between Berry Plastics Corporation, Berry Plastics Group, Inc., each subsidiary of Berry Plastics Corporation identified therein, and Goldman, Sachs & Co., and Credit Suisse, on behalf of themselves and as representatives of the initial purchasers, relating to the 6.00% second priority senior secured notes due 2022 (incorporated by reference to Exhibit 4.1 to the Company's Form 8-K filed on October 6, 2015).
|
||
|
|||
|
$650,000,000 Second Amended and Restated Revolving Credit Agreement, dated as of May 14, 2015, by and among Berry Plastics Corporation., Berry Plastics Group, Inc., certain domestic subsidiaries party thereto from time to time, Bank of America, N.A., as collateral agent and administrative agent, the lenders party thereto from time to time, and the financial institutions party thereto, which is attached to Amendment No. 4 to Amended and Restated Revolving Credit Agreement dated as of April 3, 2007 (incorporated by reference to Exhibit 10.1 to the Company's Form 8-K filed on May 20, 2015).
|
||
|
|||
|
Amendment No. 5 to the Amended and Restated Credit Agreement, dated as of March 24, 2017, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, certain domestic subsidiaries party thereto, Bank of America, N.A., as collateral agent and administrative agent, and the lenders party thereto.
|
||
|
Amendment No. 6 to the Amended and Restated Credit Agreement, dated as of March 24, 2017, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, certain domestic subsidiaries party thereto, Bank of America, N.A., as collateral agent and administrative agent, and the lenders party thereto.
|
|
Amendment No. 7 to the Amended and Restated Credit Agreement, dated as of March 24, 2017, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, certain domestic subsidiaries party thereto, Bank of America, N.A., as collateral agent and administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Company's Form 8-K filed on March 27, 2017).
|
||
|
U.S. $1,200,000,000 Second Amended and Restated Credit Agreement, dated as of April 3, 2007, by and among Berry Plastics Corporation formerly known as Berry Plastics Holding Corporation, Berry Plastics Group, Inc., Credit Suisse, Cayman Islands Branch, as collateral and administrative agent, the lenders party thereto from time to time, and the other financial institutions party thereto (incorporated herein by reference to Exhibit 10.1(b) to Berry Plastics Corporation's (File No. 033-75706-01) Current Report on Form 8-K filed on April 10, 2007).
|
||
|
|||
|
Second Amended and Restated Intercreditor Agreement, dated as of February 5, 2008, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, certain subsidiaries identified as parties thereto, Bank of America, N.A. and Credit Suisse, Cayman Islands Branch as first lien agents, and U.S. Bank National Association, as successor in interest to Wells Fargo Bank, N.A., as trustee (incorporated herein by reference to Exhibit 10.3 to the Company's Form 10-K filed on November 23, 2015).
|
||
|
|
U.S. $1,147,500,000 and $814,375,000 Incremental Assumption Agreement, dated as of February 10, 2017 by and among Berry Plastics Group, Inc., Berry Plastics Corporation and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Citibank, N.A., as initial Term I lender and Citibank, N.A., as incremental term J lender therein.
|
|
|
|
U.S. $1,644,750,000 and $498,750,000 Incremental Assumption Agreement, dated as of August 10, 2017, by and among Berry Plastics Group, Inc., Berry Plastics Corporation and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Wells Fargo Bank, National Association, as initial Term M lender and Wells Fargo Bank, National Association, as initial Term N lender therein.
|
|
|
Equipment Lease Agreement, dated as of June 24, 2010, between Gossamer Holdings, LLC, as Lessor, and Chicopee, Inc., as Lessee (incorporated by reference to Exhibit 10.1 to AVINTIV Specialty Materials Inc.'s Quarterly Report on Form 10-Q filed with the SEC on August 17, 2010).
|
||
|
Amendment and Waiver to Equipment Lease Agreement, dated as of January 19, 2011, between Chicopee, Inc., as Lessee and Gossamer Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.16 to AVINTIV Specialty Materials Inc.'s Registration Statement Form S-4 (Reg. No. 333-177497) filed on October 25, 2011).
|
||
|
Second Amendment to Equipment Lease Agreement, dated as of October 7, 2011, between Chicopee, Inc., as Lessee and Gossamer Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.17 to AVINTIV Specialty Materials Inc.'s Registration Statement Form S-4 (Reg. No. 333-177497) filed on October 25, 2011).
|
||
|
Third Amendment to Equipment Lease Agreement, dated as of February 28, 2012, between Chicopee, Inc., as Lessee and Gossamer Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.1 to AVINTIV Specialty Materials Inc.'s Quarterly Report on Form 10-Q filed on May 15, 2012).
|
||
|
Fourth Amendment to Equipment Lease Agreement, dated as of March 22, 2013, between Chicopee, Inc., as Lessee and Gossamer Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.1 to AVINTIV Specialty Materials Inc.'s Quarterly Report on Form 10-Q filed May 9, 2013).
|
||
|
|
2006 Equity Incentive Plan (incorporated herein by reference to Exhibit 10.8 to Berry Plastics Corporation's Registration Statement Form S-4 (Reg. No. 333-138380) filed on November 2, 2006).
|
|
|
|||
|
|
Amendment No. 2 to the Berry Plastics Group, Inc., 2006 Equity Incentive Plan (incorporated herein by reference to Exhibit 10.9 to the Company's Form 10-K filed on December 11, 2013).
|
|
|
|||
|
|
Amendment No. 3 to Berry Plastics Group, Inc. 2006 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Form 8-K filed on March 10, 2015).
|
|
|
Form of 2016 Omnibus Amendment to Awards Granted Under the Berry Plastics Group, Inc. 2006 Equity Incentive Plan
(incorporated by reference to Exhibit 10.2 to the Company's Form 8-K filed on July 22, 2016).
|
|
|
|||
|
|
Omnibus amendment to awards granted under the Berry Plastics Group, Inc., 2006 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 10.10 to the Company's Form 10-K filed on December 11, 2013).
|
|
|
|||
|
|
Form of Performance-Based Stock Option Agreement of Berry Plastics Group, Inc. (incorporated herein by reference to Exhibit 10.9 to Berry Plastics Corporation's Registration Statement Form S-4 (Reg. No. 333-138380) filed on November 2, 2006).
|
|
|
|||
|
|
Form of Accreting Stock Option Agreement of Berry Plastics Group, Inc. (incorporated herein by reference to Exhibit 10.10 to Berry Plastics Corporation's Registration Statement Form S-4 (Reg. No. 333-138380) filed on November 2, 2006).
|
|
|
|||
|
|
Form of Time-Based Stock Option Agreement of Berry Plastics Group, Inc. (incorporated herein by reference to Exhibit 10.11 to Berry Plastics Corporation's Registration Statement Form S-4 (Reg. No. 333-138380) filed on November 2, 2006).
|
|
|
Form of Performance-Based Stock Appreciation Rights Agreement of Berry Plastics Group, Inc. (incorporated herein by reference to Exhibit 10.12 to Berry Plastics Corporation's Registration Statement Form S-4 (Reg. No. 333-138380) filed on November 2, 2006).
|
||
10.23† |
Employment Agreement of Thomas E. Salmon (incorporated by reference to Exhibit 10.1 to the Company's Form 8-K filed on February 6, 2017).
|
||
Offer Letter of Jonathan D. Rich (incorporated by reference to Exhibit 10.2 to the Company's Form 8-K filed on February 6, 2017).
|
|||
|
Form of common stock certificate of Berry Plastics Group, Inc. (incorporated by reference to Exhibit 4.27 of Amendment No. 5 to the Company's Registration Statement on Form S-1 (File No. 333-180294) filed on September 19, 2012).
|
||
|
Income Tax Receivable Agreement, dated as of November 29, 2012, by and among Berry Plastics Group, Inc. and Apollo Management Fund VI, L.P. (incorporated herein by reference to Exhibit 10.25 to the Company's Form 10-K filed on December 27, 2012).
|
||
|
Berry Plastics Group, Inc. Executive Bonus Plan, amended and restated December 22, 2015, effective as of September 27, 2015 (incorporated by reference to Exhibit 10.1 to the Company's Form 8-K filed on December 28, 2015).
|
||
|
Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 10.27 to the Company's Form 10-K filed on December 27, 2012).
|
||
|
Amendment No. 1 to the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 10.31 to the Company's Form 10-K filed on December 11, 2013).
|
||
|
Omnibus amendment to awards granted under the Berry Plastics Group, Inc., 2012 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 10.32 to the Company's Form 10-K filed on December 11, 2013). | ||
10.31
†
|
Amendment No. 2 to the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.2 to the Company's Form 8-K filed on March 10, 2015). | ||
|
Form of 2016 Omnibus Amendment to Awards Granted Under the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.3 to the Company's Form 8-K filed on July 22, 2016). | ||
|
2015 Berry Plastics Group, Inc. Long-Term Incentive Plan (incorporated by reference to Exhibit 10.3 to the Company's Form 8-K filed on March 10, 2015).
|
||
|
Form of 2016 Omnibus Amendment to Awards Granted Under the Berry Plastics Group, Inc. 2015 Long-Term Incentive Plan
(incorporated by reference to Exhibit 10.4 to the Company's Form 8-K filed on July 22, 2016).
|
||
|
Fourth Amended and Restated Stockholders Agreement, by and among Berry Plastics Group, Inc., and the stockholders of the Corporation listed on schedule A thereto, dated as of January 15, 2015 (incorporated herein by reference to Exhibit 10.1 to the Company's Form 10-Q filed on January 30, 2015).
|
||
|
Employment Agreement, dated January 1, 2002, between the Berry Plastics Corporation and Curtis Begle (incorporated herein by reference to Exhibit 10.1 to the Company's Form 10-Q filed on January 31, 2014).
|
|
|
Amendment No. 1 to Employment Agreement, dated as of September 13, 2006, by and between the Berry Plastics Corporation and Curtis Begle (incorporated herein by reference to Exhibit 10.3 to the Company's Form 10-Q filed on January 31, 2014).
|
Amendment No. 2 to Employment Agreement, dated December 31, 2008, by and between the Berry Plastics Corporation and Curtis Begle (incorporated herein by reference to Exhibit 10.4 to the Company's Form 10-Q filed on January 31, 2014).
|
|
|
Amendment No. 3 to Employment Agreement, dated August 1, 2010, by and between the Berry Plastics Corporation and Curtis L. Begle (incorporated herein by reference to Exhibit 10.5 to the Company's Form 10-Q filed on January 31, 2014).
|
|
Amendment No. 4 to Employment Agreement, dated December 16, 2011, by and between the Berry Plastics Corporation and Curtis L. Begle (incorporated herein by reference to Exhibit 10.6 to the Company's Form 10-Q filed on January 31, 2014).
|
Employment Agreement, dated February 28, 1998, between Berry Plastics Corporation and Mark Miles, together with amendments dated February 28, 2003, September 13, 2006, December 31, 2008, and December 31, 2011 (incorporated herein by reference to Exhibit 10.40 to the Company's Form 10-K filed on November 30, 2016).
|
|
Form of Amendment to Employment Agreement by and between Berry Plastics Corporation and each of Curtis L Begle, Mark W. Miles, and Thomas E. Salmon (incorporated herein by reference to Exhibit 10.1 to the Company's Form 8-K filed on July 22, 2016).
|
|
|
|
Computation of Ratio of Earnings to Fixed Charges.
|
|
|
|
Subsidiaries of the Registrant.
|
|
|
|
Consent of Independent Registered Public Accounting Firm
|
|
|
|
Rule 13a-14(a)/15d-14(a) Certification of the Chief Executive Officer
|
|
|
|
Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer
|
|
|
|
Section 1350 Certification of the Chief Executive Officer
|
|
|
|
Section 1350 Certification of the Chief Financial Officer
|
|
|
|
101.*
|
Interactive Data Files
|
* |
Filed herewith.
|
† |
Management contract or compensatory plan or arrangement.
|
|
BERRY GLOBAL GROUP, INC.
|
|
|
|
|
|
|
|
By
|
/s/ Thomas E. Salmon
|
|
|
|
Thomas E. Salmon
|
|
|
|
Chief Executive Officer
|
|
Signature
|
|
Title
|
Date
|
|
|
|
|
/s/ Thomas E. Salmon
|
|
Chief Executive Officer and Director (Principal Executive Officer)
|
November 21, 2017
|
Thomas E. Salmon
|
|
|
|
|
|
|
|
/s/ Mark W. Miles
|
|
Chief Financial Officer (Principal Financial Officer)
|
November 21, 2017
|
Mark W. Miles
|
|
|
|
|
|
|
|
/s/ James M. Till
|
|
Executive Vice President and Controller (Principal Accounting Officer)
|
November 21, 2017
|
James M. Till
|
|
|
|
|
|
|
|
/s/ Jonathan D. Rich
|
|
Chairman of the Board of Directors and Director
|
November 21, 2017
|
Jonathan D. Rich
|
|
|
|
/s/ B. Evan Bayh
|
|
Director
|
November 21, 2017
|
B. Evan Bayh
|
|
|
|
|
|
|
|
/s/ Jonathan F. Foster
|
|
Director
|
November 21, 2017
|
Jonathan F. Foster
|
|
|
|
|
|
|
|
/s/ Stephen E. Sterrett
|
|
Director
|
November 21, 2017
|
Stephen E. Sterrett
|
|
|
|
|
|
|
|
/s/ Idalene F. Kesner
|
|
Director
|
November 21, 2017
|
Idalene F. Kesner
|
|
|
|
|
|
|
|
/s/ Carl J. Rickertsen
|
|
Director
|
November 21, 2017
|
Carl J. Rickertsen
|
|
|
|
|
|
|
|
/s/ Ronald S. Rolfe
|
|
Director
|
November 21, 2017
|
Ronald S. Rolfe
|
|
|
|
|
|
|
|
/s/ Robert V. Seminara
|
|
Director
|
November 21, 2017
|
Robert V. Seminara
|
|
|
|
|
|
|
|
/s/ Robert A. Steele
|
|
Director
|
November 21, 2017
|
Robert A. Steele
|
|
|
|
/s/ Scott B. Ullem
|
Director
|
November 21, 2017
|
|
Scott B. Ullem
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
Customers
Customer name | Ticker |
---|---|
Performance Food Group Company | PFGC |
Sysco Corporation | SYY |
Yum! Brands, Inc. | YUM |
No Suppliers Found
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|