XML 61 R47.htm IDEA: XBRL DOCUMENT v3.23.3
Assets Held for Sale and Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The results of operations are presented as discontinued operations as summarized below:

Year Ended
(In millions of U.S. Dollars)December 31, 2022December 25, 2021December 26, 2020
Net Sales$65.9 $171.7 $182.3 
Cost of products sold25.7 60.0 66.0 
Gross profit40.2 111.7 116.3 
Selling and administrative expenses46.3 105.1 109.8 
Re-engineering charges0.4 0.3 0.8 
(Gain) loss on disposal of assets(22.2)(9.2)0.3 
Loss on held for sale assets and dispositions1.3 142.7 — 
Operating income (loss)14.4 (127.2)5.4 
Other expense, net0.6 1.7 0.4 
Income (loss) from discontinued operations before income taxes13.8 (128.9)5.0 
(Benefit) provision for income taxes(0.6)6.5 4.3 
Net income (loss) from discontinued operations$14.4 $(135.4)$0.7 

The carrying amount of major classes of assets and liabilities classified as held for sale that were included in discontinued operations at December 31, 2022 and December 25, 2021 are shown in the table below.
As of
(In millions of U.S. Dollars)December 31,
2022
December 25,
2021
Assets
Cash and cash equivalents$— $0.2 
Accounts receivable, net2.9 14.9 
Inventories
3.6 25.8 
Non-trade accounts receivable, net— 2.2 
Prepaid expenses and other current assets0.5 1.5 
Accumulated translation adjustment losses, current(7.0)(36.7)
Total assets of discontinued operations - current— 7.9 
Deferred tax assets, net— 6.2 
Property, plant and equipment, net0.8 7.8 
Operating lease assets1.8 11.1 
Trade name, net— 6.7 
Goodwill2.0 1.7 
Other assets0.3 2.7 
Accumulated translation adjustment losses(4.9)(17.7)
Assets held for sale— 18.5 
Total assets of discontinued operations$— $26.4 
Liabilities
Accounts payable$1.0 $17.0 
Accrued liabilities1.6 30.5 
Accumulated translation adjustment losses, current4.0 88.3 
Total liabilities of discontinued operations - current6.6 135.8 
Operating lease liabilities1.0 8.6 
Other liabilities— 9.2 
Liabilities held for sale1.0 17.8 
Total liabilities of discontinued operations$7.6 $153.6