Discontinued Operations (Tables)

12 Months Ended

Dec. 25, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The Company has either sold or discontinued certain operations that are accounted for as "Discontinued Operations" under applicable accounting guidance. Discontinued operations are summarized as follows:

	Fiscal Year
	2021		2020 (As Adjusted)
Workers' compensation costs from former textile operations	$	(172)	$	(60)
Environmental remediation costs from former textile operations	(146)		(60)
Commercial business operations	(3,308)		1,569
Income (Loss) from discontinued operations, before taxes	$	(3,626)	$	1,449
Income tax expense	(89)		834
Income (Loss) from discontinued operations, net of tax	$	(3,537)	$	615

Schedule Of Gain On Sale Of Assets

The gain on the sale of assets is summarized as follows:

Net Proceeds, including escrowed funds		$	20,500
	Inventory, net	(9,195)
	Fixed Assets	(2,278)
	Contract Liabilities	3,127
Net tangible assets sold		(8,346)
Gain on sale of assets sold, prior to other transaction related costs		12,154
Other transaction related costs
	Adjustments to Accruals, Reserves and Allowances	(8,462)		1
	Transaction Costs	(1,032)		2
Total other transaction related costs		(9,494)
Gain on sale of discontinued operations, before tax		2,660

1) For the remaining retained commercial inventory and fixed assets, the Company recognized adjustment to recognize the effects of the transaction. For inventory, the Company recognized lower of cost or market adjustments of approximately $6,600. The Company’s remaining fixed assets will be disposed of by sale and the Company recognized an adjustment of approximately $1,800 to reflect the lower of its carrying value or estimated fair value less cost to sell. For these assets, the Company has suspended the associated depreciation and will recognize changes in the fair value less cost to sell as gains or losses in future periods until the date of sale.

2) Transaction costs were legal expenses and involuntary employee termination costs related to one-time benefit arrangements.

Discontinued Operations, Balance Sheet

The Company reclassified the following assets and liabilities for discontinued operations in the accompanying consolidated balance sheets:

	As of
	December 25, 2021		December 26, 2020
Current Assets of Discontinued Operations:
Receivables, net	$	3,406	$	5,648
Inventories, net	1,927		17,499
Prepaid expenses	658		317
Current Assets Held for Discontinued Operations	5,991		23,464
Long Term Assets of Discontinued Operations:
Property, plant and equipment, net	292		4,999
Operating lease right of use assets	242		923
Other assets	2,218		2,584
Long Term Assets Held for Discontinued Operations	2,752		8,506
Current Liabilities of Discontinued Operations:
Accounts payable	2,133		3,952

Accrued expenses	3,062		7,316
Current portion of operating lease liabilities	167		234
Current Liabilities Held for Discontinued Operations	5,362		11,502
Long Term Liabilities of Discontinued Operations
Operating lease liabilities	75		774
Other long term liabilities	4,413		5,534
Long Term Liabilities Held for Discontinued Operations	$	4,488	$	6,308

Discontinued Operations, Income Statement

For the twelve months ended December 25, 2021 and December 26, 2020, the Company reclassified the following operations of the Commercial business included in discontinued operations in the accompanying consolidated statements of operations:

	Twelve Months Ended
	December 25, 2021		December 26, 2020
Net Sales	$	48,070	$	65,070
Cost of sales	40,904		45,945
Gross Profit	7,166		19,125
Selling and administrative expenses	13,134		17,556
Discontinued Income (Loss), related to the divestiture of the Commercial business	(5,968)		1,569
Gain on sale of business	(2,660)		—
Income (Loss) from Discontinued Commercial Operations before Taxes	(3,308)		1,569