XML 66 R7.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Discontinued Operations | 9 Months Ended
--- | ---
Sep. 28, 2013
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 2 – Discontinued Operations 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. In August 2013, the Company completed the sale of its Hatteras and Cabo boat businesses resulting in an after-tax gain of $1.6 million. The following table discloses the results of operations of the Hatteras and Cabo businesses, including the gain on the disposal, reported as discontinued operations for the three months and nine months ended September 28, 2013 and September 29, 2012, respectively:
| Three Months Ended |  | Nine Months Ended
(in millions) | September 28, 2013 |  | September 29, 2012 |  | September 28, 2013 |  | September 29, 2012
Net sales | $ | 2.0 |  |  | $ | 10.5 |  |  | $ | 23.0 |  |  | $ | 38.2 |
Loss from discontinued operations before income taxes | (2.0 | ) |  | (19.2 | ) |  | (8.0 | ) |  | (37.2 | )
Income tax provision (benefit) | (0.8 | ) |  | 1.3 |  |  | (2.8 | ) |  | 1.0 |
Loss from discontinued operations, net of tax | (1.2 | ) |  | (20.5 | ) |  | (5.2 | ) |  | (38.2 | )
Gain on disposal of discontinued operations, net of tax (A) | 1.6 |  |  | — |  |  | 1.6 |  |  | — |
Net earnings (loss) from discontinued operations, net of tax | $ | 0.4 |  |  | $ | (20.5 | ) |  | $ | (3.6 | ) |  | $ | (38.2 | )
(A) The Gain on disposal of discontinued operations for the three months and nine months ended September 28, 2013, includes a pre-tax loss of $(1.4) million and a net tax benefit of $3.0 million. There were no remaining net assets available for sale as of September 28, 2013. The following table reflects the summary of assets and liabilities held for sale as of December 31, 2012, for the Hatteras and Cabo businesses reported as discontinued operations:
(in millions) | December 31, 2012
Accounts and notes receivable, net | $ | — |
Net inventory | — |
Current assets held for sale | — |
Long-term assets held for sale | — |
Assets held for sale (B) | $ | — |
Accounts payable | $ | 3.8 |
Accrued expenses | 14.6 |
Current liabilities held for sale | 18.4 |
Other liabilities | 2.9 |
Long-term liabilities held for sale | 2.9 |
Liabilities held for sale | $ | 21.3 |
(B) Assets held for sale at December 31, 2012 are shown net of reserves of $52.7 million.

X
- Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: 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 3: 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 4: 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 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 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: 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 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 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration