Discontinued Operations (Tables)

6 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups

Schedule of assets and liabilities classified as held for sale

	December 31,		July 2,
	2016		2016
	(Thousands)
Receivables, less allowances of $35,649 and $39,356, respectively	$	2,832,218	$	2,205,213
Inventories		271,080		296,310
Prepaid and other current assets		59,401		59,948
Total current assets		3,162,699		2,561,471
Property, plant and equipment, net		152,439		159,449
Goodwill		648,157		659,368
Intangible assets, net		49,616		55,826
Other assets		40,576		24,424
Total assets	$	4,053,487	$	3,460,538
Accounts payable	$	2,114,323	$	1,643,004
Accrued expenses and other		164,796		161,225
Total current liabilities		2,279,119		1,804,229
Other Long-term liabilities		53,527		43,769
Total liabilities	$	2,332,646	$	1,847,998

Schedule of summarized results of discontinued operations

	Second Quarters Ended				Six Months Ended
	December 31,		January 2,		December 31,		January 2,
	2016		2016		2016		2016
	(Thousands)				(Thousands)
Sales	$	2,453,262	$	2,686,975	$	4,375,464	$	5,128,084
Cost of sales		2,199,235		2,413,865		3,928,164		4,619,667
Gross profit		254,027		273,110		447,300		508,417
Selling, general and administrative expenses		158,356		175,973		324,381		357,469
Restructuring, integration and other expenses		3,316		7,139		7,540		20,579
Operating income		92,355		89,998		115,379		130,369
Interest and expense, net		(10,635)		(5,891)		(10,630)		(14,197)
Income from discontinued operations before income taxes		81,720		84,107		104,749		116,172
Income tax expense		10,967		30,236		32,841		40,971
Income from discontinued operations, net of taxes	$	70,753	$	53,871	$	71,908	$	75,201