Discontinued Operations

6 Months Ended

Oct. 27, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

During the first quarter of Fiscal 2014, the Company completed the sale of Shanghai LongFong Foods ("LongFong") business, resulting in an insignificant pre-tax and after-tax loss which was recorded in discontinued operations in the Successor period. The net assets held for sale related to LongFong are reported in Other current assets, Other non-current assets, Other accrued liabilities and Other non-current liabilities on the condensed consolidated balance sheet as of April 28, 2013 as they are not material for separate balance sheet presentation.

During the first quarter of Fiscal 2013, the Company completed the sale of its U.S. Foodservice frozen desserts business, resulting in a $32.7 million pre-tax ($21.1 million after-tax) loss which has been recorded in discontinued operations.

The operating results related to these businesses have been included in discontinued operations in the Company's consolidated statements of income for all periods presented. The following table presents summarized operating results for these discontinued operations:

	Second Quarter Ended
	Successor			Predecessor
	October 27, 2013 FY 2014			October 28, 2012 FY 2013
	(In millions)
Sales	$	—		$	5.7
Net after-tax losses	$	(3.9	)	$	(4.6	)
Tax benefit on losses	$	—		$	—

	Successor			Predecessor
	February 8 - October 27, 2013 FY 2014			April 29 - June 7, 2013 FY 2014			Six Months Ended October 28, 2012 FY 2013
	(In millions)
Sales	$	2.9		$	1.2		15.9
Net after-tax losses	$	(5.6	)	$	(1.3	)	(12.3	)
Tax benefit on losses	$	—		$	—		0.6