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Assets Held for Sale (Tables) | 9 Months Ended
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Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Assets and Liabilities Held for Sale | The following table summarizes the assets and liabilities held for sale at October 1, 2023:
| October 1, 2023
Assets: |
Cash and cash equivalents including restricted cash of $4.1 million (1) | $ | 70.4 |
Accounts receivable, less allowance for doubtful accounts of $1.4 million | 85.2
Inventories | 2.7
Prepaid expenses and other current assets | 402.6
Property, plant and equipment, less accumulated depreciation of $21.3 million | 53.6
Other assets | 891.5
Write-down loss allowance (2) | (457.3) |
Total assets held for sale | $ | 1,048.7 |
Liabilities: |
Short-term borrowings | $ | 141.9 |
Current portion of long-term debt | 8.2
Accounts payable and accrued liabilities | 404.4
Long-term debt | 0.8
Other liabilities | 52.1
Total liabilities held for sale | $ | 607.4 |
(1) The net cash and cash equivalents attributable to the non-core entertainment business will be paid for by Lionsgate under the agreement between the Company and Lionsgate dated August 3, 2023 as part of the purchase price adjustment for net debt. (2) In addition to the write-down loss allowance of $457.3 million, the Company also recognized $15.7 million of currency translation losses on the classification of held for sale. The pre-tax non-cash loss on assets held for sale of $473.0 million includes both the write-down allowance and the currency translation losses.

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