Divestitures

October 2014 Divestiture Plan

In October 2014, the Company announced the intent to divest all of the Company's operations in Asia Pacific and Africa. The Company expects to incur a total of approximately $10 million in pre-tax charges consisting primarily of legal and transaction fees for the dispositions. Charges incurred in the three months ended March 31, 2017 and April 1, 2016 were $0.2 million.

Asia Pacific

As part of the October 2014 announcement, the Company has completed the following as of March 31, 2017 (in millions):



Entity	Sale / Closure	Sale / Closure Date	Gross Proceeds		Pre-tax Gain / (Loss) ⁽¹⁾
Pakistan Cables Limited ("Pakistan") - 24.6% interest	Sale	First Quarter 2017	$	5.3	$	(3.5	)
General Cable Energy India Private Ltd. ("India")	Sale	First Quarter 2016	10.8		1.6
Phelps Dodge International Thailand ("Thailand") - 75.47% interest	Sale	Third Quarter 2015	88.0		16.1
Dominion Wire and Cables ("Fiji") - 51% interest	Sale	First Quarter 2015	9.3		(2.6		)
Keystone Electric Wire and Cable ("Keystone") - 20% interest	Sale	First Quarter 2015	11.0		3.6
Phelps Dodge International Philippines, Inc. ("PDP") - 60% interest and Phelps Dodge Philippines Energy Products Corp (“PDEP”), (together, "the Philippines")	Sale	Fourth Quarter 2014	67.1		17.6


(1)	The pre-tax gain / (loss) for each sale was recorded in the Selling, general and administrative ("SG&A") expenses caption of the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss); the pre-tax gain / (loss) includes the reclassification of foreign currency translation adjustments upon sale of the entity.

As of March 31, 2017, management determined that the sale of the remaining Asia Pacific businesses within one year was uncertain, and therefore determined that the held for sale criteria is not met for the group of components. The businesses that have been sold to date, in the aggregate, are not considered a strategic shift, and thus are presented in continuing operations for all periods presented.

Africa

The Company's Africa businesses, and disposals of related operations to date, are also not considered a strategic shift that has or will have a major effect on the Company's operations and financial results. The Company has completed the following as of March 31, 2017 (in millions):



Entity	Sale / Closure	Sale / Closure Date	Gross Proceeds		Pre-tax Gain / (Loss)⁽¹⁾
General Cable Phoenix South Africa Pty. Ltd. ("South Africa - Durban") ⁽²⁾	Closure	Fourth Quarter 2016	$	—	$	1.6
National Cables (Pty) Ltd. ("South Africa - National Cables") ⁽²⁾	Closure	Fourth Quarter 2016	—		(29.4		)
Metal Fabricators of Zambia PLC ("Zambia") - 75.39% interest	Sale	Third Quarter 2016	9.8		(14.4		)
General Cable S.A.E. ("Egypt") ⁽³⁾	Sale	Second Quarter 2016	5.8		(8.4		)


(1)	The pre-tax gain / (loss) for each sale was recorded in the SG&A expenses caption of the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss); the pre-tax gain / (loss) includes the reclassification of foreign currency translation adjustments upon sale of the entity.


(2)	The gain (loss) represents foreign currency translation adjustments reclassified from accumulated other comprehensive income upon liquidation.


(3)	Prior to the sale, the Company recorded a long-lived asset impairment charge in cost of sales of $6.0 million in the first quarter of 2016.

As of March 31, 2017, the Company determined that the remaining Africa businesses did not meet the held for sale criteria. Management’s belief is that the probability of sale within one year is uncertain.