XML 48 R31.htm IDEA: XBRL DOCUMENT v3.22.4
Discontinued Operations and Disposal Groups (Notes)
 12 Months Ended
Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures ASSETS AND LIABILITIES HELD FOR SALEDuring the fourth quarter of 2022, the Company announced that it had initiated a formal process to divest the Keds® business and Wolverine Leathers business, both of which are low-profit contributors. The Company has determined that both the Keds®
business and the Wolverine Leathers business meet the criteria to be classified as held for sale, and therefore have reclassified the related assets and liabilities as held for sale on the Consolidated Balance Sheets.
The following is a summary of the major categories of assets and liabilities that have been classified as held for sale on the Consolidated Balance Sheets at December 31, 2022:
(In millions)2022
Cash and cash equivalents$4.0 
Accounts receivables, net3.5 
Inventories43.1 
Indefinite-lived intangibles11.4 
Other assets5.9 
Total assets held for sale67.9 
Accounts payable8.1 
Accrued liabilities0.7 
Total liabilities held for sale8.8 
The Company determined that the divestiture of the Keds® business and Wolverine Leathers business do not represent a strategic shift that had or will have a major effect on the Consolidated Results of Operations, and therefore results were not classified as discontinued operations.