Discontinued Operations

3 Months Ended

Mar. 30, 2014

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 March 30, 2014 and December 29, 2013.

The Company recorded the following pre-tax gains and losses, which have been reported as a net loss on disposition of discontinued operations:

	Three Months Ended
	March 30, 2014			March 31, 2013
	(In thousands)
Gain on disposition of Photoflash business	$	—		$	124
Loss on disposition of other discontinued operations	(72		)	(216		)
Loss on disposition of discontinued operations before income taxes	$	(72	)	$	(92	)

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 three months ended March 31, 2013, the Company recognized a pre-tax gain of $0.1 million for contingent consideration related to this sale. This gain was recognized as a gain on disposition of discontinued operations.

During the first three months of both fiscal years 2014 and 2013, the Company settled various commitments related to the divestiture of other discontinued operations. The Company recognized pre-tax losses in the first three months of both fiscal years 2014 and 2013. These losses were recognized as a loss on disposition of discontinued operations.

The Company recorded a tax provision of $0.02 million and a tax benefit of $0.02 million on disposition of discontinued operations for the three months ended March 30, 2014 and March 31, 2013, respectively.