Business Disposition

9 Months Ended

Sep. 29, 2018

Business Disposition

Business Disposition

Note 3.  Business Disposition

On April 18, 2018, we entered into an agreement to sell the businesses that manufacture and sell the products in our Tools and Test Equipment product line within our Industrial segment to Emerson Electric Co.  We completed this disposition on July 2, 2018 and received net cash proceeds of $807 million.  In the third quarter of 2018, we recorded an after-tax gain of $410 million, subject to post-closing adjustments. The carrying amounts by major classes of assets and liabilities that were related to this disposition are as follows:

(In millions)		July 2, 2018
Assets
Accounts receivable, net	$	71
Inventories		100
Property, plant and equipment, net		59
Goodwill		153
Other assets		24
Total Assets	$	407
Liabilities
Accounts payable	$	30
Other current liabilities		25
Other liabilities		11
Total Liabilities	$	66