Discontinued Operations

6 Months Ended

Jun. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

As part of the Company’s continuing efforts to focus on higher growth opportunities, the Company has discontinued certain businesses. The Company has accounted for these businesses as discontinued operations and, accordingly, has presented the results of operations and related cash flows as discontinued operations for all periods presented. Any remaining assets and liabilities of these businesses have been presented separately, and are reflected within the assets and liabilities from discontinued operations in the accompanying condensed consolidated balance sheets as of June 30, 2013 and December 30, 2012.

The Company recorded the following gains and losses, which have been reported as a gain on disposition of discontinued operations:

	Three Months Ended					Six Months Ended
	June 30, 2013		July 1, 2012			June 30, 2013		July 1, 2012
	(In thousands)
Gain on disposition of Photoflash business	$	369	$	485		$	493	$	992
Gain (loss) on disposition of other discontinued operations	244		(3		)	28		25
Gain on disposition of discontinued operations before income taxes	$	613	$	482		$	521	$	1,017

In June 2010, the Company sold its Photoflash business, which was included in the Company's Environmental Health segment, for $13.5 million, including an adjustment for net working capital, plus potential additional contingent consideration. During the six months ended June 30, 2013, the Company recognized a pre-tax gain of $0.5 million for contingent consideration related to this sale. During the six months ended July 1, 2012, the Company recognized a pre-tax gain of $1.0 million for contingent consideration related to this sale. These gains were recognized as a gain on disposition of discontinued operations.

During the first six months of both fiscal years 2013 and 2012, the Company settled various commitments related to the divestiture of other discontinued operations. The Company recognized pre-tax gains in the first six months of both fiscal year 2013 and fiscal year 2012. These gains were recognized as a gain on disposition of discontinued operations.

The Company recorded tax benefits of $0.4 million on disposition of discontinued operations for both the three and six months ended June 30, 2013. The Company recorded tax provisions of $0.4 million and $0.5 million on disposition of discontinued operations for the three and six months ended July 1, 2012, respectively.