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Assets and Liabilities Held for Sale (Tables)
 3 Months Ended
Apr. 02, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Assets and Liabilities Held for Sale
Assets and liabilities classified as held for sale in the Condensed Consolidated Balance Sheets as of April 2, 2022, January 1, 2022 and April 3, 2021 consist of the following:
April 2,
2022		January 1,
2022		April 3,
2021
U.S. Sheer Hosiery business - continuing operations$7,959 $5,426 $— 
European Innerwear business - discontinued operations— 321,731 303,045 
Total current assets held for sale$7,959 $327,157 $303,045 
U.S. Sheer Hosiery business - continuing operations$7,959 $5,426 $— 
European Innerwear business - discontinued operations— 311,476 288,936 
Total current liabilities held for sale$7,959 $316,902 $288,936 
Discontinued Operations Tables
The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the European Innerwear business that are eliminated from continuing operations. Discontinued operations does not include any allocation of corporate overhead expense or interest expense. The key components from discontinued operations related to the European Innerwear business are as follows:
Quarters Ended
April 2,
2022		April 3,
2021
Net sales$101,314 $135,845 
Cost of sales60,415 75,523 
Gross profit40,899 60,322 
Selling, general and administrative expenses54,689 83,392 
Impairment of intangible assets and goodwill— 155,745 
(Gain) loss on sale of business and classification of assets held for sale(187)226,352 
Operating loss(13,603)(405,167)
Other expenses283 334 
Interest expense, net10 90 
Loss from discontinued operations before income tax expense(13,896)(405,591)
Income tax benefit(18,421)(13,925)
Net income (loss) from discontinued operations, net of tax$4,525 $(391,666)
Assets and liabilities of discontinued operations classified as held for sale in the Condensed Consolidated Balance Sheets as of April 2, 2022, January 1, 2022 and April 3, 2021 consist of the following:
April 2,
2022		January 1,
2022		April 3,
2021
Cash and cash equivalents$— $24,352 $10,304 
Trade accounts receivable, net— 87,353 80,458 
Inventories— 141,653 106,192 
Other current assets— 21,926 11,190 
Property, net— 62,659 61,763 
Right-of-use assets— 32,603 34,779 
Trademarks and other identifiable intangibles, net— 205,204 208,601 
Deferred tax assets— 4,174 8,505 
Other noncurrent assets— 4,127 4,860 
Allowance to adjust assets to estimated fair value, less costs of disposal— (262,320)(223,607)
Total assets of discontinued operations$— $321,731 $303,045 
Accounts payable$— $84,327 $62,199 
Accrued liabilities— 122,620 120,475 
Lease liabilities— 6,562 9,159 
Notes payable— 329 1,574 
Lease liabilities - noncurrent— 27,426 27,038 
Pension and postretirement benefits— 38,325 44,428 
Other noncurrent liabilities— 31,887 24,063 
Total liabilities of discontinued operations$— $311,476 $288,936 
The cash flows related to discontinued operations have not been segregated and are included in the Condensed Consolidated Statements of Cash Flows. The following table presents cash flow and non-cash information related to discontinued operations:
Quarters Ended
April 2,
2022		April 3,
2021
Depreciation$— $2,608 
Amortization$— $1,460 
Capital expenditures$715 $3,335 
Impairment of intangible assets and goodwill$— $155,745 
(Gain) loss on sale of business and classification of assets held for sale$(187)$226,352 
Capital expenditures included in accounts payable at end of period$— $52 
Right-of-use assets obtained in exchange for lease obligations$461 $1,495