Discontinued Operations

9 Months Ended

Mar. 29, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

Discontinued operations include the operating results and other adjustments related to our Direct Sale Program business ("Program Business") and Ireland business ("Ireland Business"), both of which had previously been included in our United States operating segment. We previously concluded that both the Program Business and Ireland Business met the requirements to be presented as discontinued operations. Accordingly, the results of these operations have been reclassified to discontinued operations for all periods presented on the Condensed Consolidated Statements of Operations.

On December 31, 2013, we sold our Program Business. As a result of this agreement, we reduced the carrying value of the Program Business net assets as of December 28, 2013 to equal the estimated net proceeds from the transaction and recorded a corresponding pretax loss on the sale of $12,319 in the three months ended December 28, 2013 and is included in "Loss on sale and other adjustments, net of tax" in the table below. The loss on the sale was based on a preliminary estimate, which was finalized during the three months ended March 29, 2014. Separately, we completed the sale of our Ireland Business during the second quarter of fiscal year 2014 and recognized a pretax loss on the sale of $603, which has also been included in "Loss on sale and other adjustments, net of tax" in the table below. Total aggregate gross proceeds from the sales were $6,641. Summarized financial information for discontinued operations is shown below:

	Three Months Ended						Nine Months Ended
	March 29, 2014			March 30, 2013			March 29, 2014			March 30, 2013
Rental and direct sale revenue from discontinued operations	$	208		$	8,888		$	17,844		$	31,626
Income (loss) before income taxes	(418		)	(45		)	(279		)	1,135
Income (loss), net of tax	(227		)	(23		)	(141		)	720
Loss on sale and other adjustments, net of tax	46			—			(8,252		)	—
Net income (loss) from discontinued operations, net of tax	$	(181	)	$	(23	)	$	(8,393	)	$	720

	Nine Months Ended
	March 29, 2014
Loss in excess of carrying value of Program Business	$	(11,559	)
Transaction and related costs	(675		)
Loss on sale of Program Business	(12,234		)
Loss on sale of Ireland Business	(603		)
Pretax loss on sale of businesses	(12,837		)
Income tax benefit	4,585
Loss on sale and other adjustments, net of tax	$	(8,252	)

The carrying amount of the major classes of assets and liabilities related to the Program Business as of June 29, 2013 were as follows:

	June 29, 2013
Accounts receivable, net	$	4,557
Inventory	16,591
Other current assets	554
Total current assets	$	21,702
Accounts payable	$	964
Accrued expenses and other current liabilities	2,982
Total current liabilities	$	3,946