Discontinued Operations (Tables)

12 Months Ended

Dec. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Selected Financial Information Included In Earnings And Balance Sheet

The results for the years ended December 30, 2012, December 25, 2011 and December 26, 2010 have been reclassified to show the results of operations for the Banking Security Systems Integration business unit as discontinued operations, net of tax, on the Consolidated Statement of Operations. Below is a summary of these results:

(amounts in thousands)	December 30, 2012			December 25, 2011			December 26, 2010
Net revenue	$	10,751		$	13,565		$	12,820
Gross profit	1,335			2,541			2,874
Selling, general, & administrative expense	2,550			4,095			4,043
Restructuring expenses	—			113			—
Asset impairment	1,442			2,781			—
Goodwill impairment	370			3,411			—
Operating loss	(3,027		)	(7,859		)	(1,169		)
Loss on disposal	(15		)	—			—
Loss from discontinued operations before income taxes	(3,042		)	(7,859		)	(1,169		)
Loss from discontinued operations, net of tax	$	(3,042	)	$	(7,514	)	$	(773	)

The assets and liabilities associated with this business have been adjusted to fair value, less costs to sell, and reclassified into assets of discontinued operations held for sale and liabilities of discontinued operations held for sale, as appropriate, on the Consolidated Balance Sheet. As of December 25, 2011 the classification was as follows:

(amounts in thousands)	December 25, 2011
Accounts receivable, net	$	1,519
Inventories	1,087
Property, plant, and equipment , net	11
Goodwill	370
Other intangibles, net	1,754
Other assets	1,579
Assets of discontinued operations held for sale	$	6,320
Accounts payable	$	551
Accrued compensation and related taxes	40
Other accrued expenses	599
Unearned revenues	169
Restructuring reserve	78
Other liabilities	3
Liabilities of discontinued operations held for sale	$	1,440

In December of 2012, our U.S. and Canada based CheckView^® business included in our Shrink Management Solutions segment met the criteria for classification as discontinued operations. The classification of this business as discontinued operations was determined to be a triggering event for testing goodwill impairment. As a result of this impairment test, we determined that there was a $3.3 million impairment charge of goodwill in our Shrink Management Solutions segment and a $0.3 million impairment of property, plant and equipment. These impairment charges were included in discontinued operations on the Consolidated Statement of Operations. After a full impairment of its long-lived assets, the remaining carrying value of our CheckView^® business at December 30, 2012 exceeded its fair value by approximately $0.8 million.

Our discontinued operations reflect the operating results for the disposal group. Impairments in 2012 reflect write-downs to estimates of fair value less costs to sell the U.S. and Canada based CheckView^® business. These nonrecurring fair value measurements, which fall within Level 3 of the fair value hierarchy, were determined utilizing an expected selling price less costs to sell approach. The results for the years ended December 30, 2012, December 25, 2011, and December 26, 2010 have been reclassified to show the results of operations for the U.S. and Canada based CheckView^® business as discontinued operations, net of tax, on the Consolidated Statement of Operations. Below is a summary of these results:

(amounts in thousands)	December 30, 2012		December 25, 2011	December 26, 2010
Net revenue	76,519		101,594	105,227
Gross profit	11,585		20,560	29,325
Selling, general, & administrative expense	12,253		13,700	13,866
Research and development	410		544	831
Asset impairment	329		—	—
Goodwill impairment	3,263		—	—
Operating (loss) income	(4,670	)	6,316	14,628
(Loss) earnings from discontinued operations before income taxes	(4,670	)	6,316	14,628
(Loss) earnings from discontinued operations, net of tax	(4,917	)	6,349	9,098

The assets and liabilities associated with this business have been adjusted to fair value, less costs to sell, and reclassified into assets of discontinued operations held for sale and liabilities of discontinued operations held for sale, as appropriate, on the Consolidated Balance Sheet. As of December 30, 2012 the classification was as follows:

(amounts in thousands)	December 30, 2012
Accounts receivable, net	$	14,558
Inventories	9,721
Property, plant, and equipment, net	—
Other assets	5,347
Deferred income taxes	$	238
Assets of discontinued operations held for sale	$	29,864
Accounts payable	$	3,413
Accrued compensation and related taxes	94
Other accrued expenses	5,600
Unearned revenues	581
Liabilities of discontinued operations held for sale	$	9,688