Foreign Currency and Other, Net

12 Months Ended

Dec. 29, 2012

Foreign Currency [Abstract]

Foreign Currency and Other, Net

Foreign Currency and Other, Net

Transactions that are denominated in a currency other than an entity's functional currency are subject to changes in exchange rates with the resulting gains and losses recorded within current earnings. The Company includes these gains and losses related to intercompany loans and debt as well as other non-operating activities as a component of Other income (expense).

For the fiscal year ended December 29, 2012, the Successor recognized a loss of $5.1 million within Foreign currency and other, net. Amounts associated with foreign currency losses totaled $3.4 million and other non-operating expenses were $1.7 million. For the eleven months ended December 31, 2011, the Successor recognized a loss of $18.6 million. Amounts associated with foreign currency losses totaled $0.7 million and other non-operating expenses were $1.3 million. In addition, the Company wrote-off a $16.6 million tax indemnification asset that was established during the Merger.

For the one month ended January 28, 2011, the Predecessor recognized a loss of $0.1 million within Foreign currency and other, net. Amounts associated with foreign currency losses totaled $0.2 million and other non-operating income totaled $0.1 million. For the fiscal year ended January 1, 2011, the Predecessor recognized a loss of $1.5 million. Amounts associated with foreign currency losses totaled $1.4 million and other non-operating expenses were $0.1 million.