XML 41 R27.htm IDEA: XBRL DOCUMENT v3.19.1
Disposition Discontinued Operations Income Statement (Tables)
 9 Months Ended
Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Disposal Groups, Including Discontinued Operations [Table Text Block]
 
Three Months Ended
 
Nine Months Ended
 
March 31, 2019
 
March 25, 2018
 
March 31, 2019
 
March 25, 2018
Revenue, net

$109,386

 

$130,759

 

$376,008

 

$425,100

Cost of revenue, net
82,490

 
106,564

 
287,553

 
347,037

Gross profit
26,896

 
24,195

 
88,455

 
78,063

Total operating expenses
231,937

 
286,717

 
306,350

 
366,375

Non-operating income
197

 
348

 
497

 
1,068

Loss from discontinued operations before income taxes
(204,844
)
 
(262,174
)
 
(217,398
)
 
(287,244
)
Income tax expense (benefit)
576

 
(31,804
)
 
687

 
(28,177
)
Loss from discontinued operations, net of income taxes

($205,420
)
 

($230,370
)
 

($218,085
)
 

($259,067
)

Additionally, the Company recorded a $197.6 million impairment charge on assets held for sale, which includes goodwill of $90 million, for the three and nine months ended March 31, 2019 and a $247.5 million goodwill impairment charge for the three and nine months ended March 25, 2018.

The following table presents the assets and liabilities related to the Lighting Products business unit held for sale (in thousands):
 
March 31, 2019
 
June 24, 2018
Assets Held for Sale
 
 
 
Accounts receivable, net

$59,929

 

$67,477

Prepaid and other current assets
7,264

 
11,059

Income tax receivable
494

 
449

Inventories
143,104

 
144,379

Property and equipment, net
71,226

 
72,246

Deferred tax assets
538

 
685

Intangible assets, net
133,358

 
174,239

Goodwill
—

 
90,326

Other long term assets
203

 
196

Valuation allowance on disposal group
(75,334
)

—

Total Assets Held for Sale*

$340,782

 

$561,056

 
 
 
 
Liabilities Held for Sale
 
 
 
Accounts payable

$34,201

 

$45,953

Accrued salaries and wages
18,661

 
11,581

Other accrued liabilities
21,122

 
24,248

Income tax payable
—

 
271

Other long term liabilities
16,371

 
21,505

Total Liabilities Held for Sale*

$90,355

 

$103,558


*Amounts in the June 24, 2018 column are classified as current and long-term in the consolidated balance sheet.

The following table presents the cash flow of the Lighting Products business unit (in thousands):

 
Nine Months Ended
 
March 31, 2019
 
March 25, 2018
Net cash provided by discontinued operating activities

$9,294



$49,047

Net cash used in discontinued investing activities
(15,356
)

(12,577
)