Treasure Holdco, Inc.

CIK:0002021031|SEC Filings

Combined Statements of Operations - USD ($) $ in Millions	12 Months Ended
Combined Statements of Operations - USD ($) $ in Millions	Sep. 28, 2024	Sep. 30, 2023	Oct. 01, 2022
Combined Statements of Operations [Abstract]
Net sales	$ 2,187	$ 2,275	$ 2,803
Costs and expenses:
Cost of goods sold	1,950	1,995	2,425
Selling, general and administrative	107	110	120
Amortization of intangibles	48	51	53
Goodwill and other impairment	172	0	0
Restructuring and other activities	30	24	9
Corporate expense allocation	21	26	24
Operating income (loss)	(141)	69	172
Other (income) expense	(9)	(3)	16
Interest expense	3	0	4
Income (loss) before income taxes	(135)	72	152
Income tax expense	19	34	33
Net income (loss)	$ (154)	$ 38	$ 119

Combined Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
Combined Statements of Cash Flows - USD ($) $ in Millions	Sep. 28, 2024	Sep. 30, 2023	Oct. 01, 2022
Cash Flows from Operating Activities:
Net income (loss)	$ (154)	$ 38	$ 119
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation	127	118	115
Amortization of intangibles	48	51	53
Non-cash interest expense	5	5	4
Goodwill and other impairment	172	0	0
Share-based compensation expense	7	7	7
Deferred income tax	(9)	(9)	(7)
Other non-cash operating activities, net	(3)	(10)	13
Changes in operating assets and liabilities:
Accounts receivable, net	(27)	63	29
Inventories, net	(16)	49	22
Prepaid expenses and other assets	2	0	(6)
Accounts payable and other liabilities	40	(55)	(25)
Net cash from operating activities	192	257	324
Cash Flows from Investing Activities:
Additions to property, plant and equipment, net	(72)	(88)	(104)
Proceeds from sale of assets	4	0	0
Other investing activities	29	0	0
Net cash from investing activities	(39)	(88)	(104)
Cash Flows from Financing Activities:
Repayment of long-term borrowings	(2)	(4)	(4)
Net transfers to Parent	(107)	(206)	(212)
Net cash from financing activities	(109)	(210)	(216)
Effect of currency translation on cash	1	13	(9)
Net change in cash and cash equivalents	45	(28)	(5)
Cash and cash equivalents at beginning of period	185	213	218
Cash and cash equivalents at end of period	$ 230	$ 185	$ 213

Combined Balance Sheets - USD ($) $ in Millions	Sep. 28, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 230	$ 185
Short term investments	0	29
Accounts receivable, net	359	330
Inventories, net	259	243
Prepaid expenses and other current assets	38	46
Total current assets	886	833
Property, plant and equipment, net	949	998
Goodwill and intangible assets, net	850	1,069
Right-of-use assets	49	52
Other assets	73	75
Total assets	2,807	3,027
Current liabilities:
Accounts payable	295	265
Accrued expenses	162	139
Current portion of long-term debt	0	2
Total current liabilities	457	406
Deferred income taxes	78	83
Operating lease liabilities	39	41
Other long-term liabilities	94	107
Total liabilities	668	637
Commitments and Contingencies
Parent invested equity:
Parent investment in Spinco	2,307	2,561
Accumulated other comprehensive loss	(168)	(171)
Total parent invested equity	2,139	2,390
Total liabilities and parent invested equity	$ 2,807	$ 3,027