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Discontinued Operations
9 Months Ended
Nov. 26, 2011
Discontinued Operations [Abstract]  
Discontinued Operations
13. Discontinued Operations

In several transactions in fiscal years 1998 through 2000, the Company completed the sale of its large-scale domestic curtainwall business, the sale of the Company's detention/security business and its exit from international curtainwall operations. In the first quarter of fiscal 2012, the Company paid $3.0 million for resolution of an outstanding legal claim related to a foreign discontinued operation, which was fully reserved in discontinued operations at the end of fiscal 2011. The remaining estimated cash expenditures related to discontinued operations are recorded as liabilities of discontinued operations and cover warranty issues relating to domestic and international construction projects that the Company expects will be resolved over the next five years.

During the second quarter of fiscal 2011, the favorable resolution of an outstanding tax exposure related to a foreign operation discontinued in 1998 resulted in the release of $4.9 million of uncertain tax positions and non-cash income from discontinued operations.

 

     Three months ended      Nine months ended  

(In thousands)

   Nov. 26,
2011
     Nov. 27,
2010
     Nov. 26,
2011
     Nov. 27,
2010
 

Condensed Statement of Operations from Discontinued Businesses

           

Net sales

   $ —         $ —         $ —         $ —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings before income taxes

     —           —           —           —     

Income tax expense (benefit)

     —           —           —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings from operations, net of income taxes

     —           —           —           —     

Gain on disposal, net of income taxes

     —           —           —           4,870   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net earnings

   $ —         $ —         $ —         $ 4,870   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(In thousands)

   Nov. 26,
2011
     Feb. 26,
2011
 

Summary Balance Sheets of Discontinued Businesses

     

Accounts payable and accrued liabilities

   $ 789       $ 4,023   

Long-term liabilities

     576         642