Discontinued Operations (Tables)

9 Months Ended

Sep. 28, 2013

Discontinued Operation, Income (Loss) from Discontinued Operation Disclosures [Abstract]

Discontinued operations tables [Table Text Block]

The following table shows the components of assets and liabilities that are classified as discontinued operations in the Company's condensed consolidated balance sheets as of September 28, 2013 and December 29, 2012 (in thousands):



	September 28, 2013			December 29, 2012
Accounts receivable, net	$	252		$	7,222
Inventories	—			3,534
Prepaid and other current assets	87			509
Assets of discontinued operations - current	339			11,265
Property, plant and equipment, net	68			3,522
Goodwill	—			4,000
Other intangible assets, net	—			7,705
Other assets, net	—			41
Assets of discontinued operations - long-term	68			15,268

Accounts payable	182			5,421
Accrued compensation and related liabilities	747			645
Other current liabilities	1,643			525
Liabilities of discontinued operations - current	2,572			6,591
Liabilities of discontinued operations - long-term	72			880
Net assets	$	(2,237	)	$	19,062

The following table summarizes certain statement of operations information for discontinued operations (in thousands, except per share data):



	For the Three Months Ended					For the Nine Months Ended
	September 28, 2013		September 29, 2012			September 28, 2013		September 29, 2012
Net sales	$	8,447	$	14,106		$	34,891	$	54,361
Income from discontinued operations before income taxes ⁽¹⁾	1,605		2,556			5,040		8,915
Income tax expense on discontinued operations	643		1,011			2,620		3,509
Gain/(loss) on sale of discontinued operations, net of tax ⁽²⁾	12,530		(92		)	12,530		(5,411		)
Income/(loss) from discontinued operations, net of taxes	$	13,492	$	1,453		$	14,950	$	(5	)
Income/(loss) per share - basic	$	0.21	$	0.02		$	0.23	$	—
Income/(loss) per share - diluted	$	0.16	$	0.02		$	0.23	$	—

^{____________________}

⁽¹⁾ Loss from discontinued operations for the nine months ended September 29, 2012 also includes the reduction of a liability of $1.8 million, net of tax expense of $1.2 million, due to the expiration of certain statutes of limitations related to a previous divestiture.

⁽²⁾ The gain/(loss) on the sale of discontinued operations is shown net of taxes of $10.7 million for the three and nine months September 28, 2013, $0.1 million for the three months ended September 29, 2012, and $3.4 million for the nine months ended September 29, 2012.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details