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Discontinued Operations | 12 Months Ended
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Dec. 27, 2014
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 11 — Discontinued Operations On October 1, 2014, the Company completed the sale of the Information Security business. The sale of the Information Security business, coupled with the previously announced sale of our Print Finishing business on June 30, 2014, represents the Company’s exit from the Information Security and Print Finishing segment. As a result, the Information Security and Print Finishing segment has been classified as discontinued operations for all periods presented and certain assets and liabilities in prior periods are classified as held for sale. As a result of the divestiture of the Information Security and Print Finishing segment, the Company incurred a loss on disposal of assets of $9.6 million, income from reclassification of accumulated other comprehensive income from foreign currency translation adjustments of $2.6 million and a tax benefit of $6.1 million. Under the terms of the final purchase agreement for the Information Security business divestiture, the Company contributed to its international Information Security operations, all claims related to intercompany debt of this operation prior to the divestiture operations. The Company also assumed the foreign tax liability related to this gain; however, it was able to utilize previously reserved net operating loss carry-forwards to offset the majority of the related tax liability. As of the second quarter of 2014, the Company determined the carrying value of the Information Security business assets was greater than their fair value, less the cost to sell the Information Security business, resulting in an impairment of certain accounts receivables, inventories, long-lived assets, intangible assets and other assets totaling $12.9 million. The impairment charge reduced the carrying value of intangible assets to fair value and the remaining assets to the lower of their carrying amount or fair value less cost to sell. The fair value for these assets was determined by estimating the most likely sale price with a third-party buyer based on market data. Because of the significance of the unobservable inputs and management’s judgment used in the assets held for sale analysis, these measurements were classified in level three of the valuation hierarchy. The results of operations presented as discontinued operations are summarized below.
|  | Years Ended |
|  | December 27, |  | December 28, |
All Amounts in Thousands |  | 2014 |  | 2013 |
Net sales |  | $ | 20,865 |  | $ | 30,686 |
Cost of products sold |  |  | 13,813 |  |  | 20,358 |
Selling, administrative and general expenses |  |  | 7,535 |  |  | 11,997 |
Amortization |  |  | — |  |  | 18 |
Interest expense |  |  | 98 |  |  | 335 |
Other expense |  |  | 30 |  |  | 4 |
Loss Before Income Taxes |  |  | (611) |  |  | (2,026) |
Discontinued Operations |  |  |  |  |  |  |
Loss on classification as held for sale |  |  | (12,945) |  |  | — |
Gain on disposal |  |  | 5,929 |  |  | — |
Provision (benefit) for income taxes |  |  | (6,099) |  |  | 764 |
Net Loss from Discontinued Operations |  | $ | (1,528) |  | $ | (2,790) |
The assets and liabilities held for sale are summarized below.
|  | October 4, |  | December 28, |
All Amounts in Thousands |  | 2014 |  | 2013 |
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | 1,255 |
Receivables, net |  |  | — |  |  | 5,480 |
Inventories |  |  | — |  |  | 9,366 |
Prepaid expenses |  |  | — |  |  | 429 |
Property, plant and equipment, net |  |  | — |  |  | 4,323 |
Intangible assets |  |  | — |  |  | 1,754 |
Investments |  |  | — |  |  | 331 |
Other assets |  |  | — |  |  | 93 |
Assets held for sale |  | $ | — |  | $ | 23,031 |
LIABILITIES |  |  |  |  |  |  |
Trade accounts payable |  | $ | — |  | $ | 428 |
Accrued liabilities |  |  | — |  |  | 6,412 |
Liabilities held for sale |  | $ | — |  | $ | 6,840 |

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- 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 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 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 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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