Assets Held For Sale

6 Months Ended

Jun. 28, 2015

Assets Held For Sale

Assets Held For Sale

6.Assets Held for Sale

Sale of Certain Americas Product lines

During the second quarter of 2015, the Company classified certain assets related to the Americas product lines being rationalized as part of the 2015 Actions referred to in Note 5, as assets held for sale.   The carrying amounts of the assets presented in the June 28, 2015 Consolidated Balance Sheet as assets held for sale relating to the 2015 Actions were as follows:

	June 28,
	2015
	(in millions)
Inventories, net	$	20.5
Other assets	3.1
Property, plant and equipment, net	4.7
Goodwill	4.1
Assets held for sale	$	32.4

On July 29, 2015, the Company entered into a definitive agreement with Sioux Chief to sell the Company’s brass fittings, brass & tubular and vinyl tubing product lines and the associated held for sale assets in the Americas. The selling price will be approximately $35.5 million, and the transaction is expected to result in a minimal gain on sale.  The sale is expected to close by the end of the third quarter of 2015, and is subject to customary closing conditions.

Assets held for sale in the June 28, 2015 Consolidated Balance Sheet of $34.6 million also includes two buildings in EMEA with a combined carrying amount of $2.2 million.