Discontinued Operations - Sale of Energy, Chemicals and Resources ("ECR") Business (Tables)

6 Months Ended

Mar. 29, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The significant components included in our Consolidated Statements of Cash Flows for the discontinued operations are as follows (in thousands):

	For the Six Months Ended
	March 29, 2019			March 30, 2018
Depreciation and amortization:
Property, equipment and improvements	$	2,110		$	13,899
Intangible assets	$	614		$	6,296
Additions to property and equipment	$	(2,571	)	$	(11,346	)
Stock based compensation	$	7,220		$	4,866

The following tables represent the assets and liabilities held for sale (in thousands):

	March 29, 2019		September 28, 2018
Cash and cash equivalents	$	176,090	$	158,488
Receivables and contract assets	1,087,492		1,040,996
Prepaid expenses and other	33,848		37,200
Current assets held for sale	$	1,297,430	$	1,236,684

Property, Equipment and Improvements, net	$	199,207	$	199,847
Goodwill	1,291,794		1,308,000
Intangibles, net	82,396		83,005
Miscellaneous	101,615		110,838
Noncurrent assets held for sale	$	1,675,012	$	1,701,690

Notes payable	$	1,118	$	1,782
Accounts payable	283,481		351,482
Accrued liabilities	304,454		321,627
Contract liabilities	142,105		81,679
Current liabilities held for sale	$	731,158	$	756,570

Long-term Debt	$	1,384	$	2,710
Other Deferred Liabilities	$	121,609	$	147,894
Noncurrent liabilities held for sale	$	122,993	$	150,604

The following table represents earnings (loss) from discontinued operations, net of tax (in thousands):

	Three Months Ended						For the Six Months Ended
	March 29, 2019			March 30, 2018			March 29, 2019			March 30, 2018
Revenues	$	1,161,083		$	1,064,733		$	2,325,790		$	2,031,045
Direct cost of contracts	(999,944		)	(898,292		)	(1,995,550		)	(1,724,795		)
Gross profit	161,139			166,441			330,240			306,250
Selling, general and administrative expenses	(202,590		)	(94,959		)	(293,600		)	(188,505		)
Operating Profit (Loss)	(41,451		)	71,482			36,640			117,745
Total other (expense) income, net	(34,413		)	2,034			(32,293		)	4,390
Earnings (Loss) Before Taxes from Discontinued Operations	(75,864		)	73,516			4,347			122,135
Income Tax Benefit (Expense)	18,858			(18,379		)	(1,194		)	(30,534		)
Net Earnings (Loss) of the Group from Discontinued Operations	$	(57,006	)	$	55,137		$	3,153		$	91,601