Divestitures

12 Months Ended

Jan. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Divestitures

Divestitures

On May 2, 2014, the Company completed the sale of its Smilemakers, Inc. business unit, recognizing a gain of $23.4 million. The results of operations for Smilemakers, Inc. had not been material to the Company's consolidated results of operations nor to its segment reporting, and therefore this business has not been presented as a discontinued operation in the Company's consolidated financial statements. Smilemakers, Inc. was a component of the Company's North American Commercial segment.

During 2014 the Company also completed the sales of a small business in Europe and a small business that was a component of the Company's North American Commercial segment, recognizing a $1.6 million loss and a $5.7 million gain on the sales, respectively.

On October 5, 2013, the Company completed the sale of PSD recognizing a preliminary loss on disposal of $80.9 million in 2013 that is subject to the impact of a working capital adjustment to the purchase price. The loss is included in Loss from discontinued operations, net of income taxes in the consolidated statements of income. The amount of the working capital adjustment continues to be in dispute between the parties to the transaction.  The purchaser claims that the amount of the adjustment is approximately €59.7 million. The Company disagrees and intends to vigorously defend against the purchaser’s claim. If the purchaser prevails, it could result in an adjustment, which may be material, to the loss we recorded for the transaction. 

The following table details PSD's results of operations for 2013 and 2012, which have been reported in discontinued operations (in thousands):

	35 Weeks Ended			53 Weeks Ended
	October 5, 2013			February 2, 2013
Sales	$	199,224		$	291,428
Restructuring Charges	—			20,064
Loss from discontinued operations, before income taxes (including loss on disposal of $80.9 million in 2013)	(88,301		)	(51,074		)
Income tax benefit	(1,366		)	(1,096		)
Loss from discontinued operations, net of income taxes	$	(86,935	)	$	(49,978	)