Discontinued Operations

9 Months Ended

Nov. 30, 2017

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

5. Discontinued Operations

On May 25, 2016 the Company sold its Apparel Segment to Gildan Activewear Inc. for an all-cash purchase price of $110.0 million, subject to a working capital adjustment, customary indemnification arrangements, and the other terms of the Unit Purchase Agreement dated May 4, 2016.

The operating results of these discontinued operations only reflect revenues and expenses that are directly attributable to the Apparel Segment and that have been eliminated from continuing operations.  The following tables show the key components on the sale and discontinued operations related to the Apparel Segment that was completed on May 25, 2016 (in thousands):

Sales price	$	110,000
Carrying value of disposed		(130,174	)
Expenses related to sales (1)		(4,365	)
Loss on sale before write-off of foreign currency translation    adjustment		(24,539	)
Write-off of foreign currency translation adjustments
recorded in other comprehensive income		(16,109	)
Loss on sale of sale of discontinued operations	$	(40,648	)

(1) Includes the termination fee, in the amount of $3.0 million, paid as a result of the termination of a prior purchase agreement for the sale of the Apparel Segment to Alstyle Operations, LLC.

	Nine months ended
	November 30, 2016
Net sales	$	41,038
Income from discontinued operations before income taxes		3,873
Loss on sale of discontinued operations before income taxes		(40,648	)
Loss on discontinued operations before income taxes		(36,775	)
Income tax benefit		(13,214	)
Net loss from discontinued operations	$	(23,561	)