Assets Held For Sale

3 Months Ended

Jan. 01, 2016

During the three months ended January 1, 2016, the Company entered into a definitive agreement to sell one if its businesses to a third party. The Company expects to close the transaction by the end of the second fiscal quarter of 2016. As a result of this agreement, the Company has classified the business’s assets and liabilities as held for sale. This divestiture does not meet the criteria to be classified as discontinued operations at January 1, 2016, primarily because the disposal of this business does not represent a strategic shift that will have a major impact on the Company’s continuing operations or financial results.

The following table summarizes the carrying value of the assets and liabilities held for sale (in millions):



	As of
	January 1, 2016
Receivables	$	7.3
Inventory	10.3
Other assets	1.3
Fixed assets, net	6.4
Assets held for sale	$	25.3

Accounts payable	$	3.2
Other liabilities	1.6
Liabilities held for sale	$	4.8