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Discontinued Operations
 12 Months Ended
Mar. 03, 2012
Discontinued Operations [Abstract]  
Discontinued Operations

13 Discontinued Operations

In several transactions in fiscal years 1998 through 2000, the Company completed the sale of its large-scale domestic curtainwall business, the sale of the Company's detention/security business and its exit from international curtainwall operations. The remaining estimated cash expenditures related to discontinued operations are recorded as liabilities of discontinued operations and cover warranty issues relating to domestic and international construction projects that the Company expects will be resolved over the next five years.

In the fourth quarter of fiscal 2011, the settlement of an outstanding legal claim related to a foreign discontinued operation resulted in a $1.6 million increase in reserves and a pre-tax loss from discontinued operations. This settlement was finalized in March 2011, and the Company paid $3.0 million for final resolution of this matter, which was fully reserved at the end of fiscal 2011. In the second quarter of fiscal 2011, the favorable resolution of an outstanding tax exposure related to a foreign operation discontinued in 1998 resulted in the release of $4.9 million of uncertain tax positions and non-cash income from discontinued operations. The settlements of these two items represent the last significant remaining items with respect to our international curtainwall business. In fiscal 2010, a favorable resolution of an outstanding lease claim and a reduction in reserves related to the expiration of warranty periods resulted in pre-tax income from discontinued operations of $0.8 million.

 

                         

(In thousands)

    2012     2011      2010  

Condensed Statement of Operations from Discontinued Businesses

                          

Net sales

    $ —        $ —         $ —     
    

 

 

    

 

 

     

 

 

  

Loss before income taxes (prior to gain on disposal)

      —          —           —     

Income tax benefit

      —          —           —     
    

 

 

    

 

 

     

 

 

  

Loss from operations, net of income taxes

      —          —           —     

(Loss) gain on disposal, net of income taxes

      (52 )      3,825         525   
    

 

 

    

 

 

     

 

 

  

Net (loss) earnings

    $ (52 )    $ 3,825       $ 525   
    

 

 

    

 

 

     

 

 

  

 

                 

(In thousands)

    2012      2011  

Summary Balance Sheets of Discontinued Businesses

                  

Accounts payable and accrued liabilities

    $ 799       $ 4,023   

Long-term liabilities

      520         642