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Discontinued Operations | 6 Months Ended
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Jun. 29, 2013
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 2 – Discontinued Operations As a result of continued weakness in the luxury sportfishing convertible and motoryacht boat market segments, on December 31, 2012 the Board of Directors authorized the Company to exit its Hatteras and Cabo boat businesses. As a result, these businesses, which were previously reported in the Company's Boat segment, are being reported as discontinued operations and are reported in separate lines in the Condensed Consolidated Statements of Comprehensive Income for all periods presented. The assets and liabilities of these businesses to be sold meet the accounting criteria to be classified as held for sale and have been aggregated and reported on separate lines of the Condensed Consolidated Balance Sheets for all periods presented. The following table discloses the results of operations of the Hatteras and Cabo businesses reported as discontinued operations for the three months and six months ended June 29, 2013 and June 30, 2012, respectively:
| Three Months Ended |  | Six Months Ended
(in millions) | June 29, 2013 |  | June 30, 2012 |  | June 29, 2013 |  | June 30, 2012
Net sales | $ | 10.3 |  |  | $ | 13.1 |  |  | $ | 21.0 |  |  | $ | 27.7 |
Earnings (loss) from discontinued operations before income taxes | 0.5 |  |  | (10.3 | ) |  | (6.0 | ) |  | (18.0 | )
Income tax provision (benefit) | (0.6 | ) |  | 0.1 |  |  | (2.0 | ) |  | (0.3 | )
Net earnings (loss) from discontinued operations, net of tax | $ | 1.1 |  |  | $ | (10.4 | ) |  | $ | (4.0 | ) |  | $ | (17.7 | )
The following table reflects the summary of assets and liabilities held for sale as of June 29, 2013 and December 31, 2012, for the Hatteras and Cabo businesses reported as discontinued operations:
(in millions) | June 29, 2013 |  | December 31, 2012
Accounts and notes receivable, net | $ | 12.4 |  |  | $ | — |
Net inventory | 5.9 |  |  | — |
Current assets held for sale | 18.3 |  |  | — |
Long-term assets held for sale | — |  |  | — |
Assets held for sale (A) | $ | 18.3 |  |  | $ | — |
Accounts payable | $ | — |  |  | $ | 3.8 |
Accrued expenses | 17.0 |  |  | 14.6 |
Current liabilities held for sale | 17.0 |  |  | 18.4 |
Other liabilities | 2.7 |  |  | 2.9 |
Long-term liabilities held for sale | 2.7 |  |  | 2.9 |
Liabilities held for sale | $ | 19.7 |  |  | $ | 21.3 |
(A) Assets held for sale at June 29, 2013 and December 31, 2012 are shown net of reserves of $50.4 million and $52.7 million, respectively.

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43-48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 + Details
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