Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.2.0.727
Discontinued Operations (Tables)
 6 Months Ended
Jul. 04, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of results of operations, assets and liabilities of businesses reported as discontinued operations
The following table discloses the results of operations of the bowling products business reported as discontinued operations for the three months and six months ended July 4, 2015 and for the retail bowling and bowling products businesses for the three months and six months ended June 28, 2014:
 
Three Months Ended
 
Six Months Ended
(in millions)
July 4,
2015
 
June 28,
2014
 
July 4,
2015
 
June 28,
2014
Net sales
$
12.3

 
$
66.7

 
$
37.5

 
$
141.0

 
 
 
 
 
 
 
 
Earnings (loss) from discontinued operations before income taxes
$
(0.2
)
 
$
2.4

 
$
0.4

 
$
14.7

Income tax provision (benefit)
(0.4
)
 
0.9

 
(0.2
)
 
5.3

Earnings from discontinued operations, net of tax
0.2

 
1.5

 
0.6

 
9.4

Gain on disposal of discontinued operations, net of tax (A)
10.0

 
—

 
10.0

 
—

Net earnings from discontinued operations, net of tax
$
10.2

 
$
1.5

 
$
10.6

 
$
9.4


(A) The Gain on disposal of discontinued operations for both the three months and six months ended July 4, 2015 includes a pre-tax gain of $8.4 million and a net tax benefit of $1.6 million.

There were no assets and liabilities held for sale as of July 4, 2015. The following table reflects the summary of assets and liabilities held for sale for the bowling products business as of December 31, 2014 and for the retail bowling and bowling products businesses as of June 28, 2014:
(in millions)
December 31,
2014
 
June 28,
2014
Accounts and notes receivable, net
$
14.0

 
$
16.4

Net inventory
15.3

 
20.4

Prepaid expenses and other
0.7

 
3.2

Current assets held for sale
30.0

 
40.0

 
 
 
 
Net property
8.8

 
192.6

Other long-term assets
3.8

 
6.2

Long-term assets held for sale
12.6

 
198.8

Assets held for sale
$
42.6

 
$
238.8

 
 
 
 
Accounts payable
$
4.5

 
$
13.3

Accrued expenses
11.2

 
30.0

Current liabilities held for sale
15.7

 
43.3

 
 
 
 
Other liabilities
8.2

 
9.1

Long-term liabilities held for sale
8.2

 
9.1

Liabilities held for sale
$
23.9

 
$
52.4