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Divestiture-Related Activities (Tables) | 6 Months Ended
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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 |  |  | $ | — |

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