Discontinued Operations, Danaher Separation And Other Disposition (Tables)

9 Months Ended

Oct. 02, 2015

Discontinued Operations and Disposal Groups [Abstract]

Components Of Income Related To Discontinued Operations

The key components of income from discontinued operations were as follows ($ in millions):

	Three Months Ended					Nine Months Ended
	October 2, 2015		September 26, 2014			October 2, 2015			September 26, 2014
Net sales	$	—	$	163.2		$	345.7		$	566.8
Operating expenses	—		(163.6		)	(329.7		)	(502.6		)
Allocated interest expense	—		(0.9		)	(1.8		)	(2.8		)
Income before taxes	—		(1.3		)	14.2			61.4
Income tax (benefit) expense	—		0.6			(22.2		)	(18.3		)
(Loss) income from discontinued operations	—		(0.7		)	(8.0		)	43.1
Gain on disposition, including $6.2 of related income tax benefit	813.3		—			813.3			—
Earnings from discontinued operations, net of income taxes	$	813.3	$	(0.7	)	$	805.3		$	43.1

The following table summarizes the major classes of assets and liabilities of discontinued operations that were included in the Company's balance sheet ($ in millions):

	October 2, 2015		December 31, 2014
Assets:
Accounts receivable, net	$	—	$	188.1
Inventories	—		48.7
Prepaid expenses and other	—		14.9
Property, plant and equipment	—		31.1
Goodwill and other intangibles, net	—		1,600.7
Total assets, discontinued operations	$	—	$	1,883.5
Liabilities:
Trade accounts payable	$	—	$	50.0
Accrued expenses and other liabilities	42.4		417.6
Total liabilities, discontinued operations	$	42.4	$	467.6

Summary Of Major Classes Of Assets And Liabilities Of Discontinued Operations

The key components of income from discontinued operations were as follows ($ in millions):

	Three Months Ended					Nine Months Ended
	October 2, 2015		September 26, 2014			October 2, 2015			September 26, 2014
Net sales	$	—	$	163.2		$	345.7		$	566.8
Operating expenses	—		(163.6		)	(329.7		)	(502.6		)
Allocated interest expense	—		(0.9		)	(1.8		)	(2.8		)
Income before taxes	—		(1.3		)	14.2			61.4
Income tax (benefit) expense	—		0.6			(22.2		)	(18.3		)
(Loss) income from discontinued operations	—		(0.7		)	(8.0		)	43.1
Gain on disposition, including $6.2 of related income tax benefit	813.3		—			813.3			—
Earnings from discontinued operations, net of income taxes	$	813.3	$	(0.7	)	$	805.3		$	43.1

The following table summarizes the major classes of assets and liabilities of discontinued operations that were included in the Company's balance sheet ($ in millions):

	October 2, 2015		December 31, 2014
Assets:
Accounts receivable, net	$	—	$	188.1
Inventories	—		48.7
Prepaid expenses and other	—		14.9
Property, plant and equipment	—		31.1
Goodwill and other intangibles, net	—		1,600.7
Total assets, discontinued operations	$	—	$	1,883.5
Liabilities:
Trade accounts payable	$	—	$	50.0
Accrued expenses and other liabilities	42.4		417.6
Total liabilities, discontinued operations	$	42.4	$	467.6