Divestiture-Related Activities (Tables)

6 Months Ended

Jul. 01, 2012

Schedule Of Operating Results Of Operations Treated As Discontinued Operations

The following table presents the operating results of the operations that have been treated as discontinued operations for the periods presented:

	Three Months Ended						Six Months Ended
	July 1, 2012			June 26, 2011			July 1, 2012			June 26, 2011
	(Dollars in thousands)
Net revenues	$	6,637		$	63,417		$	13,827		$	158,893
Costs and other expenses		7,250			62,506			13,511			150,045
Goodwill impairment(1)		9,700			—			9,700			—
Gain (loss) on disposition(2)		2,264			(4,504	)		2,264			52,269
Income (loss) from discontinued operations before income taxes		(8,049	)		(3,593	)		(7,120	)		61,117
Provision for income taxes(3)		(3,682	)		(6,982	)		(3,358	)		(6,966	)
Income (loss) from discontinued operations		(4,367	)		3,389			(3,762	)		68,083
Less: Income from discontinued operations attributable to noncontrolling interest		—			159			—			318
Income (loss) from discontinued operations attributable to common shareholders	$	(4,367	)	$	3,230		$	(3,762	)	$	67,765

(1) During the second quarter of 2012, the Company recognized a non-cash goodwill impairment charge of $9.7 million to adjust the carrying value of the orthopedic business to its estimated fair value.

(2) The $2.3 million pre-tax gain on disposition in 2012 reflects the gain recognized on the working capital adjustment in the second quarter related to the sale of the cargo systems and cargo container businesses.

(3) The provision for income taxes for the three and six months ended July 1, 2012 was impacted favorably by the realization of a tax benefit on impairment of goodwill. The provision for income taxes for the three months ended June 26, 2011 was impacted favorably by the realization of net tax benefits resulting from the resolution (including the expiration of statutes of limitation) of U.S. federal, state, and foreign tax matters relating to prior years. In addition, the provision for income taxes for the six months ended June 26, 2011 was further impacted favorably because taxes on the sale of the marine business were incurred at a rate that was significantly lower than the statutory tax rate.

Schedule Of Assets And Liabilities Held For Sale

These assets and liabilities are classified as current within the consolidated balance sheets as the Company expects these businesses to be sold within 12 months of July 1, 2012.

	July 1, 2012		December 31, 2011
	(Dollars in thousands)
Assets held for sale:
Accounts receivable, net	$	2,471	$	—
Inventories, net		7,514		—
Other current assets		41		—
Property, plant and equipment, net		17,050		7,902
Goodwill		18,476		—
Intangible assets, net		8,338		—
Total assets held for sale	$	53,890	$	7,902
Liabilities held for sale:
Current liabilities	$	1,749	$	—
Total liabilities held for sale	$	1,749	$	—