BUSINESS DISPOSITIONS

12 Months Ended

Dec. 28, 2013

BUSINESS DISPOSITIONS

BUSINESS DISPOSITIONS

2. BUSINESS DISPOSITIONS

On July 17, 2009, the Company completed the sale of all of the outstanding capital stock of RMRM, a Colorado corporation, to Campbells C-Ment Contracting, Inc., a Colorado corporation (Buyer). RMRM operated a ready mix concrete business in the Denver metropolitan area and had been included in the CACS reporting segment.

The sale of RMRM resulted in a capital loss for tax purposes of approximately $6,200,000 of which approximately $2,026,000 was used to offset a 2009 capital gain on the sale of land in Colorado Springs. The remaining capital loss carry forward of approximately $4,174,000 can be utilized to offset future capital gains. However the Company has limited capital gains and the Federal carry forward period is limited to five years; thus a valuation allowance of approximately $1,419,000 was established against the deferred tax asset related to the capital loss available for carry forward.

The revenue and pretax loss from RMRM is reported as discontinued operation for the fiscal year ended December 29, 2012. There was and will be no further activity related to RMRM after that date. The activity for the fiscal year ended December 29, 2012 is summarized as follows (amounts in thousands):

	2013		2012
Revenue	$	—	$	—
Pretax Loss	—		(36		)