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

3 Months Ended

Apr. 01, 2016

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

	Three Fiscal Months Ended
	April 1, 2016			April 3, 2015
Net sales	$	28.7		$	91.2
Cost of sales	23.9			84.2
Gross profit	4.8			7.0
Selling, general and administrative expenses	1.2			13.1
Goodwill and intangible asset impairment charges	—			3.2
Operating income (loss)	3.6			(9.3		)
Other income (expense)	0.2			0.9
Interest expense, net	(0.2		)	(0.4		)
Pre-tax gain on the disposal of discontinued operation	1.6			1.0
Income (loss) before income taxes	5.2			(7.8		)
Income tax (provision) benefit	(1.6		)	1.6
Net income (loss) including noncontrolling interest	$	3.6		$	(6.2	)

The pre-tax income attributable to the parent for Asia Pacific for the three months ended April 1, 2016 was $5.2 million and pre-tax loss attributable to the parent for Asia Pacific for the three months ended April 3, 2015 was $5.9 million.

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

	April 1, 2016		December 31, 2015
Assets
Current assets:
Cash and cash equivalents	$	33.8	$	32.7
Receivables, net of allowances	24.5		28.5
Inventories	33.0		38.6
Prepaid expenses and other	1.4		4.1
Total current assets	92.7		103.9
Property, plant and equipment, net	40.0		39.7
Deferred income taxes	10.0		10.3
Other non-current assets	6.6		6.9
Total assets	$	149.3	$	160.8
Liabilities
Current liabilities:
Accounts payable	$	10.1	$	17.3
Accrued liabilities	15.0		21.1
Current portion of long-term debt	—		13.2
Total current liabilities	25.1		51.6
Deferred income taxes	—		0.2
Other liabilities	1.4		1.5
Total liabilities	$	26.5	$	53.3