Divestitures (Tables) - GF&F

3 Months Ended

Oct. 01, 2017

Discontinued Operations, Held-for-sale or Disposed of by Sale

Schedule of discontinued operations results

Financial information for discontinued operations for the three months ended October 1, 2017 and October 2, 2016 is as follows (in thousands):

	For the three months ended
	October 1, 2017		October 2, 2016
Sales	$	726	$	1,113
Cost of sales		(615)		(791)
Gross profit		111		322
Selling, general and administrative		(108)		(191)
Income from discontinued operations, before income taxes		3		131
Loss on sale of discontinued operations		(482)		—
Total (loss) income from discontinued operations, before income taxes		(479)		131
Income tax benefit on discontinued operations		209		—
(Loss) income from discontinued operations, net of tax	$	(270)	$	131

Discontinued Operations, Disposed of by Sale

Schedule of loss on sale of discontinued operations

Below is a summary of the loss on sale of discontinued operations (in thousands):

Gross proceeds	$	3,000
Less:
Property and equipment, net		181
Accounts receivable		561
Inventory		882
Other current assets		42
Accounts payable and accrued expenses		(269)
Total net assets disposed		1,397
Goodwill		1,712
Transaction costs		373
Loss on sale of discontinued operations, before income taxes	$	(482)

Discontinued Operations, Held-for-sale

Schedule of assets and liabilities classified as held for sale or disposed

The following table presents the carrying amount as of June 30, 2017, of the major classes of assets and liabilities held for sale in the condensed consolidated balance sheet (in thousands):

	June 30, 2017
Current assets:
Accounts receivable, net	$	687
Inventories, net		717
Prepaid expenses and other current assets		48
Total current assets		1,452
Property and equipment, net		181
Goodwill		1,712
Total assets of discontinued operations	$	3,345
Current liabilities:
Accounts payable and accrued expenses	$	283
Total current liabilities		283
Other long-term liabilities		260
Total liabilities of discontinued operations	$	543