Discontinued Operations (Tables)

3 Months Ended

May 31, 2018

Discontinued Operations

Summary of results of operations associated with discontinued operations

		Three Months Ended May 31,
(in thousands)		2018		2017
Sales revenue, net	$	-	$	31,619
Cost of goods sold		-		9,236
Gross profit		-		22,383
Selling, general and administrative expense ("SG&A")		-		24,200
Asset impairment charges (1)		-		32,000
Operating loss		-		(33,817)
Gain (loss) on sale before income tax (2)		(484)		-
Interest expense		-		(114)
Loss before income tax		(484)		(33,931)
Income tax benefit		103		12,491
Loss from discontinued operations	$	(381)	$	(21,440)

⁽¹⁾ Includes pre-tax goodwill impairment charges of $26.0 million and indefinite-lived trademark impairment charges of $6.0 million during the first quarter of fiscal 2018.  Total after tax asset impairment charges were $19.6 million for the first quarter of fiscal 2018.

⁽²⁾ Includes adjustments recorded in the first quarter of fiscal 2019 to the initial estimated gain on sale before income tax recorded in the fourth quarter of fiscal 2018.