XML 45 R30.htm IDEA: XBRL DOCUMENT
v3.19.2

Discontinued Operations - Sale of Energy, Chemicals and Resources ("ECR") Business (Tables) | 9 Months Ended
--- | ---
Jun. 28, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following table represents earnings (loss) from discontinued operations, net of tax (in thousands):
| Three Months Ended (1) |  | For the Nine Months Ended (1)
| June 28, 2019 |  | June 29, 2018 |  | June 28, 2019 |  | June 29, 2018
Revenues | $ | 392,526 |  |  | $ | 1,223,040 |  |  | $ | 2,718,317 |  |  | $ | 3,254,085 |
Direct cost of contracts | (340,525 | ) |  | (1,060,548 | ) |  | (2,336,076 | ) |  | (2,785,343 | )
Gross profit | 52,001 |  |  | 162,492 |  |  | 382,241 |  |  | 468,742 |
Selling, general and administrative expenses | (39,556 | ) |  | (118,324 | ) |  | (333,155 | ) |  | (306,829 | )
Operating Profit (Loss) | 12,445 |  |  | 44,168 |  |  | 49,086 |  |  | 161,913 |
Gain on sale of ECR business | 917,697 |  |  | — |  |  | 917,697 |  |  | — |
Other (expense) income, net | (7,864 | ) |  | 1,983 |  |  | (40,158 | ) |  | 6,374 |
Earnings Before Taxes from Discontinued Operations | 922,278 |  |  | 46,151 |  |  | 926,625 |  |  | 168,287 |
Income Tax Expense | (486,594 | ) |  | (11,538 | ) |  | (487,788 | ) |  | (42,072 | )
Net Earnings of the Group from Discontinued Operations | $ | 435,684 |  |  | $ | 34,613 |  |  | $ | 438,837 |  |  | $ | 126,215 |
(1) The ECR business was sold April 26, 2019, therefore the three-month and nine-month periods ended June 28, 2019 include only one month and seven months, respectively, of results. Selling, general and administrative expenses includes $111.0 million and total other (expense) income, net includes $36.0 million for the nine months ended June 29, 2018 recorded in connection with charges recognized in the second quarter of 2019 related to the Nui Phao ("NPMC") legal matter described in Note 18. The following tables represent the assets and liabilities held for sale (in thousands):
| June 28, 2019 |  | September 28, 2018
Cash and cash equivalents | $ | — |  |  | $ | 158,488 |
Receivables and contract assets | 2,704 |  |  | 1,040,996 |
Prepaid expenses and other | — |  |  | 37,200 |
Current assets held for sale | $ | 2,704 |  |  | $ | 1,236,684 |
Property, Equipment and Improvements, net | $ | 1,665 |  |  | $ | 199,847 |
Goodwill | 24,896 |  |  | 1,308,000 |
Intangibles, net | — |  |  | 83,005 |
Miscellaneous | 530 |  |  | 110,838 |
Noncurrent assets held for sale | $ | 27,091 |  |  | $ | 1,701,690 |
Notes payable | $ | — |  |  | $ | 1,782 |
Accounts payable | — |  |  | 351,482 |
Accrued liabilities | 2,040 |  |  | 321,627 |
Contract liabilities | 63 |  |  | 81,679 |
Current liabilities held for sale | $ | 2,103 |  |  | $ | 756,570 |
Long-term Debt | $ | — |  |  | $ | 2,710 |
Other Deferred Liabilities | — |  |  | 147,894 |
Noncurrent liabilities held for sale | $ | — |  |  | $ | 150,604 |
The significant components included in our Consolidated Statements of Cash Flows for the discontinued operations are as follows (in thousands):
| For the Nine Months Ended
| June 28, 2019 |  | June 29, 2018
Depreciation and amortization: |  |  |
Property, equipment and improvements | $ | 2,110 |  |  | $ | 19,052 |
Intangible assets | $ | 614 |  |  | $ | 9,443 |
Additions to property and equipment | $ | (9,204 | ) |  | $ | (14,433 | )
Stock based compensation | $ | 10,852 |  |  | $ | 7,637 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration