Discontinued Operations (Tables)

3 Months Ended

May 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations Related to Apparel Segment

Balance sheet information for the Apparel Segment presented as discontinued operations is summarized as follows (in thousands):

	February 29, 2016
Current assets:
Cash	$	2,468
Accounts receivable, net		18,325
Prepaid expenses and income taxes		3,859
Inventories		72,691
Deferred income taxes		3,151
Total current assets	$	100,494
Long-term assets:
Property, plant and equipment, net	$	30,543
Trademarks and trade names		9,170
Customer lists		5,499
Other assets		1,125
Total long-term assets	$	46,337
Current liabilities:
Accounts payable	$	8,050
Employee compensation and benefits		4,065
Other current liabilities		380
Total current liabilities	$	12,495

The operating results of these discontinued operations only reflect revenues and expenses that are directly attributable to the Apparel Segment and that will be eliminated from ongoing operations. The key components from discontinued operations related to the Apparel Segment were as follows (in thousands):

Sales price	$	110,000
Net book value of assets		(130,174	)
Expenses related to sales (1)		(4,365	)
Loss on sale before write-off of foreign currency translation adjustment		(24,539	)
Write-off of foreign currency translation adjustments recorded in other comprehensive income		(16,109	)
Loss on sale of sale of discontinued operations	$	(40,648	)

(1) Included in this amount is the $3.0 million termination fee paid as a result of the termination of the Initial Purchase Agreement for the sale of the Apparel Segment.

	Three months ended May 31,
	2016			2015
Net sales	$	41,038		$	53,807
Income from discontinued operations before income taxes		3,873			648
Loss on sale of discontinued operations before income taxes		(40,648	)		—
Income (loss) on discontinued operations before income taxes		(36,775	)		648
Income tax expense (benefit)		(13,214	)		240
Net earnings (loss) from discontinued operations	$	(23,561	)	$	408