Assets and Liabilities Held for Sale and Discontinued Operations (Tables)

9 Months Ended

Oct. 02, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities Held for Sale and Divestitures

The results of operations, financial position and cash flows for the Asia Pacific Operations are separately reported as discontinued operations for all periods presented. Included in Net income (loss) from discontinued operations, net of taxes in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) were the following (in millions):

	Three Fiscal Months Ended						Nine Fiscal Months Ended
	October 2, 2015			September 26, 2014			October 2, 2015			September 26, 2014
Net sales	$	69.1		$	155.9		$	249.7		$	428.5
Cost of sales	71.9			137.4			237.2			390.1
Gross profit	(2.8		)	18.5			12.5			38.4
Selling, general and administrative expenses	5.7			14.7			30.8			41.7
Goodwill and intangible asset impairment charges	—			—			3.2			82.1
Operating income (loss)	(8.5		)	3.8			(21.5		)	(85.4		)
Other income (expense)	(2.1		)	0.5			(3.3		)	(0.8		)
Interest expense, net	(0.3		)	(0.6		)	(1.3		)	(1.1		)
Pre-tax gain on the disposal of discontinued operation	16.1			—			16.1			—
Income (loss) before income taxes	5.2			3.7			(10.0		)	(87.3		)
Income tax (provision) benefit	(0.8		)	(12.5		)	1.3			(7.5		)
Equity in net earnings of affiliated companies	—			—			0.1			—
Net income (loss) including noncontrolling interest	$	4.4		$	(8.8	)	$	(8.6	)	$	(94.8	)

The after-tax gain attributable to the parent for the Asia Pacific Operations for the three months ended October 2, 2015 was $4.8 million and the after-tax loss attributable to the parent for the Asia Pacific Operations for the nine months ended October 2, 2015 was $4.9 million. The after-tax loss attributable to the parent for the Asia Pacific Operations for the three and nine months ended September 26, 2014 was $10.2 million and $78.3 million, respectively.

Financial information for assets and liabilities held for sale were the following (in millions):

	October 2, 2015		December 31, 2014
Assets
Current assets:
Cash and cash equivalents	$	30.8	$	69.1
Receivables, net of allowances	26.8		111.9
Inventories	45.2		92.2
Deferred income taxes	8.2		8.4
Prepaid expenses and other	1.4		32.2
Total current assets	112.4		313.8
Property, plant and equipment, net	39.5		87.7
Deferred income taxes	4.1		6.4
Goodwill	—		3.3
Intangible assets, net	—		14.6
Other non-current assets	6.8		7.9
Total assets	$	162.8	$	433.7
Liabilities
Current liabilities:
Accounts payable	$	18.4	$	119.4
Accrued liabilities	19.0		27.3
Current portion of long-term debt	13.3		11.9
Total current liabilities	50.7		158.6
Deferred income taxes	0.3		4.7
Other liabilities	1.5		11.3
Total liabilities	$	52.5	$	174.6