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Divestiture | 9 Months Ended
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Sep. 25, 2015
Liquid Finishing Divestiture [Abstract] |
Divestiture | In April 2015, the Company sold the Liquid Finishing business assets acquired in 2012 that were held as a cost-method investment for a price of $610 million. Year-to-date held separate investment income includes the pre-tax gain on sale of $149 million, net of transaction and other related expenses. Net earnings for the quarter include after-tax net gain on the sale of $2 million from post-closing purchase price adjustments, and year-to-date after-tax gain and dividends totaling $141 million. Prior to the sale, income was recognized on dividends received from after-tax earnings of Liquid Finishing and also included in investment income. There was no dividend income in the third quarter of 2015 compared to $9 million in 2014. Year-to-date dividend income was $42 million in 2015 and $24 million in 2014. No further Liquid Finishing dividends will be received.

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