XML 28 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Discontinued Operations (Tables)
3 Months Ended
Oct. 27, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]
Results of discontinued operations were as follows:
 
Three Months Ended
 
October 27, 2013
 
October 28, 2012
Net sales
$
137

 
$
131

 
 
 
 
Earnings before taxes
$
9

 
$
17

Taxes on earnings
18

 
4

Earnings (loss) from discontinued operations
$
(9
)
 
$
13

In the three-month period ended October 27, 2013, earnings before taxes included approximately $6 of costs associated with the sale of the business. Taxes on earnings included incremental expense of $14 representing taxes on the difference between the book value and tax basis of the business as a result of a reorganization of the capital and ownership structure that occurred during the first quarter of 2014.
The assets and liabilities of the European business have been reflected in assets and liabilities held for sale in the Consolidated Balance Sheets, and are comprised of the following:
 
October 27, 2013
 
July 28,
 2013
Cash
$
14

 
$
68

Accounts receivable
98

 
54

Inventories
78

 
68

Prepaid expenses
3

 
3

Current assets
$
193

 
$
193

 
 
 
 
Plant assets
$
102

 
$
98

Goodwill
115

 
110

Intangible assets
156

 
150

Other assets
34

 
35

Non-current assets
$
407

 
$
393

 
 
 
 
Accounts payable
$
81

 
$
60

Accrued liabilities
71

 
54

Current liabilities
$
152

 
$
114

 
 
 
 
Non-current pension obligation
$
11

 
$
11

Other liabilities
12

 
11

Non-current liabilities
$
23

 
$
22