Discontinued Operations (Tables)

9 Months Ended

Apr. 01, 2017

Discontinued Operations and Disposal Groups

Schedule of assets and liabilities classified as held for sale

	July 2,
	2016
	(Thousands)
Receivables, less allowances of $39,356	$	2,205,213
Inventories		296,310
Prepaid and other current assets		59,948
Total current assets		2,561,471
Property, plant and equipment, net		159,449
Goodwill		659,368
Intangible assets, net		55,826
Other assets		24,424
Total assets	$	3,460,538
Accounts payable	$	1,643,004
Accrued expenses and other		161,225
Total current liabilities		1,804,229
Other Long-term liabilities		43,769
Total liabilities	$	1,847,998

Schedule of summarized results of discontinued operations

	Third Quarters Ended				Nine Months Ended
	April 1,		April 2,		April 1,		April 2,
	2017		2016		2017		2016
	(Thousands)
Sales	$	1,056,676	$	2,092,755	$	5,432,140	$	7,220,839
Cost of sales		955,781		1,876,869		4,883,945		6,496,536
Gross profit		100,895		215,886		548,195		724,303
Selling, general and administrative expenses		105,622		176,974		430,003		534,443
Restructuring, integration and other (income) expenses		(260)		7,318		7,280		27,897
Operating income		(4,467)		31,594		110,912		161,963
Interest and other expense, net		(13,662)		(1,146)		(24,292)		(15,343)
(Loss) income from discontinued operations before income taxes		(18,129)		30,448		86,620		146,620
Income tax expense		17,108		14,781		49,949		55,752
(Loss) income from discontinued operations, net of taxes		(35,237)	$	15,667		36,671		90,868
Gain on sale of discontinued operations, net of tax		217,088		—		217,088		—
Net income from discontinued operations, net of tax	$	181,851	$	15,667	$	253,759	$	90,868