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Assets and Liabilities of Businesses Held for Sale (Tables)
 6 Months Ended
Jun. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Assets and Liabilities of Businesses Held for Sale
Assets and liabilities of businesses classified as held for sale in the Condensed Consolidated Balance Sheets consist of the following:
June 29,
2024		December 30,
2023		July 1,
2023
U.S. Sheer Hosiery business - continuing operations$— $— $623 
Global Champion business - discontinued operations
460,863 513,247 790,938 
U.S.-based outlet store business - discontinued operations— 36,488 40,288 
Current assets held for sale$460,863 $549,735 $831,849 
Global Champion business - discontinued operations
$899,796 $926,141 $940,218 
U.S.-based outlet store business - discontinued operations5,676 19,667 18,674 
Noncurrent assets held for sale$905,472 $945,808 $958,892 
U.S. Sheer Hosiery business - continuing operations$— $— $623 
Global Champion business - discontinued operations
233,272 245,272 253,799 
U.S.-based outlet store business - discontinued operations6,991 7,716 6,708 
Current liabilities held for sale$240,263 $252,988 $261,130 
Global Champion business - discontinued operations
$114,190 $120,247 $122,369 
U.S.-based outlet store business - discontinued operations4,361 7,446 7,153 
Noncurrent liabilities held for sale$118,551 $127,693 $129,522 
Discontinued Operations Tables, Operating Results
The operating results of the discontinued operations of the global Champion and U.S.-based outlet store businesses only reflect revenues and expenses that are directly attributable to the global Champion and U.S.-based outlet store businesses that will be eliminated from continuing operations. The Company allocated interest expense to discontinued operations of approximately $17,605 and $16,624 in the quarters ended June 29, 2024 and July 1, 2023, respectively, and $35,662 and $30,495 in the six months ended June 29, 2024 and July 1, 2023, respectively, resulting from the requirement to pay down a portion of the Company’s outstanding term debt under the Senior Secured Credit Facility with the estimated net sale proceeds from the pending sale of the global Champion business. Discontinued operations does not include any allocation of corporate overhead expense. The key components from discontinued operations related to the global Champion and U.S.-based outlet store businesses are as follows:
Quarters EndedSix Months Ended
June 29,
2024		July 1,
2023		June 29,
2024		July 1,
2023
Net sales$358,534 $403,976 $736,522 $909,356 
Cost of sales306,796 278,032 533,172 616,098 
Gross profit51,738 125,944 203,350 293,258 
Selling, general and administrative expenses143,502 126,473 282,116 262,012 
Impairment of goodwill2,500 — 2,500 — 
Loss on classification of assets held for sale - U.S.-based outlet store business51,071 — 51,071 — 
Operating income (loss)(145,335)(529)(132,337)31,246 
Other expenses1 24 43 57 
Interest expense, net15,564 15,887 31,647 29,119 
Income (loss) from discontinued operations before income taxes(160,900)(16,440)(164,027)2,070 
Income tax expense (benefit)935 (2,826)6,320 (506)
Net income (loss) from discontinued operations, net of tax$(161,835)$(13,614)$(170,347)$2,576 
Discontinued Operations Tables, Balance Sheets
Assets and liabilities of the discontinued operations of the global Champion and U.S.-based outlet store businesses classified as held for sale in the Condensed Consolidated Balance Sheets as of June 29, 2024, December 30, 2023 and July 1, 2023 consist of the following:
June 29,
2024		December 30,
2023		July 1,
2023
Cash and cash equivalents$18,934 $19,784 $18,417 
Trade accounts receivable, net117,440 106,677 127,875 
Inventories340,252 395,364 663,015 
Other current assets28,106 27,910 21,919 
Allowance to adjust net assets to estimated fair value, less costs of disposal - U.S.-based outlet store business - current(43,869)— — 
Current assets held for sale - discontinued operations460,863 549,735 831,226 
Property, net54,479 59,956 61,902 
Right-of-use assets136,645 147,020 142,659 
Trademarks and other identifiable intangibles, net267,610 275,853 279,270 
Goodwill441,875 447,939 446,514 
Deferred tax assets3,224 3,778 16,056 
Other noncurrent assets8,841 11,262 12,491 
Allowance to adjust net assets to estimated fair value, less costs of disposal - U.S.-based outlet store business - noncurrent(7,202)— — 
Noncurrent assets held for sale - discontinued operations905,472 945,808 958,892 
Total assets of discontinued operations$1,366,335 $1,495,543 $1,790,118 
Accounts payable$138,887 $155,967 $167,009 
Accrued liabilities62,851 56,871 59,688 
Lease liabilities38,525 40,150 33,810 
Current liabilities held for sale - discontinued operations240,263 252,988 260,507 
Lease liabilities - noncurrent104,461 114,329 112,636 
Pension and postretirement benefits905 799 892 
Other noncurrent liabilities13,185 12,565 15,994 
Noncurrent liabilities held for sale - discontinued operations118,551 127,693 129,522 
Total liabilities of discontinued operations$358,814 $380,681 $390,029 
Discontinued Operations Tables, Cash Flow and Non-Cash Information
The cash flows related to the discontinued operations of the global Champion and U.S.-based outlet store businesses 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 the discontinued operations of the global Champion and U.S.-based outlet store businesses:
Quarters EndedSix Months Ended
June 29,
2024		July 1,
2023		June 29,
2024		July 1,
2023
Depreciation$3,565 $3,577 $6,757 $6,925 
Amortization$2,721 $2,857 $5,453 $5,459 
Capital expenditures$2,324 $1,758 $3,660 $20,526 
Impairment of goodwill$2,500 $— $2,500 $— 
Loss on classification of assets held for sale - U.S.-based outlet store business$51,071 $— $51,071 $—