Discontinued Operations

6 Months Ended

Jun. 24, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In June of 2012, consistent with the Company's plans to complete its assessment and evaluation of the non-core businesses acquired in the Integral acquisition, the Company committed to a plan to sell certain lines of business associated with antennas, satellite-cased products and fly-away terminals. These operations were previously reported in the KGS segment, and in accordance with Topic 205 Presentation of Financial Statements ("Topic 205"), these businesses have been classified as held for sale and reported in discontinued operations in the accompanying condensed consolidated financial statements. The Company recorded a $1.5 million impairment charge associated with the portion of goodwill that was allocated to the discontinued businesses based on management's estimate of the fair value of the business.

On August 2, 2010, the Company divested the southeast division of its PSS segment for approximately $0.1 million cash consideration and the assumption of certain liabilities.

The following table presents the results of discontinued operations (in millions):

	For the Three Months Ended					For the Six Months Ended
	June 26, 2011		June 24, 2012			June 26, 2011			June 24, 2012
Revenue	$	—	$	1.8		$	—		$	7.4
Net income (loss) before taxes	0.1		(2.3		)	0.1			(2.9		)
Benefit for income taxes	—		—			(0.3		)	(0.1		)
Net income (loss) after taxes	$	0.1	$	(2.3	)	$	0.4		$	(2.8	)

The benefit for income taxes for the six months ended June 26, 2011 and June 24, 2012 was primarily due to the expiration of the statute of limitations for certain foreign tax contingencies related to the Company’s discontinued wireless services business.

The following is a summary of the assets and liabilities of discontinued operations which are in other current assets, other current liabilities and other long-term liabilities in the accompanying condensed consolidated balance sheets as of December 25, 2011 and June 24, 2012 (in millions):

	December 25, 2011		June 24, 2012
Accounts receivable, net	$	5.3	$	2.2
Inventoried costs	4.0		4.4
Other current assets	0.4		0.7
Current assets of discontinued operations	$	9.7	$	7.3
Property and equipment, net	$	0.6	$	0.5
Goodwill	$	1.5	$	—
Other non-current assets	$	0.3	$	0.4
Non-current assets of discontinued operations	$	2.4	$	0.9
Accounts payable	$	3.0	$	4.5
Accrued expenses	1.5		1.7
Other current liabilities	1.8		0.3
Current liabilities of discontinued operations	$	6.3	$	6.5
Other non-current liabilities	0.5		0.4
Non-current liabilities of discontinued operations	$	0.5	$	0.4