Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.3.0.814
Discontinued Operations (Tables)
 9 Months Ended
Oct. 03, 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 businesses reported as discontinued operations for the three months and nine months ended October 3, 2015 and September 27, 2014:
 
Three Months Ended
 
Nine Months Ended
(in millions)
October 3,
2015
 
September 27,
2014
 
October 3,
2015
 
September 27,
2014
Net sales
$
—

 
$
68.8

 
$
37.5

 
$
209.8

 
 
 
 
 
 
 
 
Earnings (loss) from discontinued operations before income taxes
$
1.0

 
$
(14.4
)
 
$
1.4

 
$
0.3

Income tax provision (benefit)
0.1

 
(5.2
)
 
(0.1
)
 
0.1

Earnings (loss) from discontinued operations, net of tax
0.9

 
(9.2
)
 
1.5

 
0.2

Gain on disposal of discontinued operations, net of tax (A)
2.8

 
52.6

 
12.8

 
52.6

Net earnings from discontinued operations, net of tax
$
3.7

 
$
43.4

 
$
14.3

 
$
52.8


(A) The Gain on disposal of discontinued operations for the three months ended October 3, 2015 includes a pre-tax gain of $4.4 million and a net tax provision of $1.6 million. The Gain on disposal of discontinued operations for the nine months ended October 3, 2015 includes a pre-tax gain of $12.8 million and a net tax benefit of $0.0 million. The Gain on disposal of discontinued operations for both the three months and nine months ended September 27, 2014 includes a pre-tax gain of $65.6 million and a net tax provision of $13.0 million.

There were no assets and liabilities held for sale as of October 3, 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 September 27, 2014:
(in millions)
December 31,
2014
 
September 27,
2014
Accounts and notes receivable, net
$
14.0

 
$
20.8

Net inventory
15.3

 
17.5

Prepaid expenses and other
0.7

 
1.0

Current assets held for sale
30.0

 
39.3

 
 
 
 
Net property
8.8

 
8.7

Other long-term assets
3.8

 
4.3

Long-term assets held for sale
12.6

 
13.0

Assets held for sale
$
42.6

 
$
52.3

 
 
 
 
Accounts payable
$
4.5

 
$
6.8

Accrued expenses
11.2

 
11.3

Current liabilities held for sale
15.7

 
18.1

 
 
 
 
Other liabilities
8.2

 
7.2

Long-term liabilities held for sale
8.2

 
7.2

Liabilities held for sale
$
23.9

 
$
25.3