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BUSINESS AND ASSET DIVESTITURES
3 Months Ended
Jun. 29, 2018
Business Combinations [Abstract]  
BUSINESS AND ASSET DIVESTITURES
BUSINESS AND ASSET DIVESTITURES
 
In March 2018, the Company entered into an agreement with a certain Chinese manufacturing company, to divest its China-based Multek operations, for proceeds of approximately $273 million, net of cash. The planned divestiture does not qualify as discontinued operations, but certain Multek assets and liabilities meet the definition of held for sale as of June 29, 2018 and March 31, 2018. Accordingly, approximately $341.5 million of assets, primarily property and equipment and accounts receivable, were classified as held for sale and included in other current assets, and approximately $131.1 million of liabilities, primarily accounts payables, were classified as held for sale and included in other current liabilities as of June 29, 2018 in the consolidated balance sheet.

The sale transaction closed in July 2016, and the Company expects to recognize an immaterial gain or loss on the divestiture, in the second quarter of fiscal year 2019, depending on the net working capital levels.