v2.4.0.8
Discontinued Operations
 12 Months Ended
Dec. 28, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
The Company accounts for discontinued operations in accordance with ASC 205, "Discontinued Operations" ("ASC 205"), which allows a component of an entity that can be clearly distinguished operationally from the rest of an entity to be reported in discontinued operations, provided that the operations and cash flows of the component have been or will be eliminated and the entity will not have any significant continuing involvement in the component after the disposal.
The components of discontinued operations are as follows:
In thousands
Successor
 
 
Predecessor
Fiscal Year Ended
December 28,
2013
 
Fiscal Year
Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
Revenues
$
—

 
$
—

 
$
27,221

 
 
$
4,060

 
 
 
 
 
 
 
 
 
Pre-tax earnings (loss) from operations
—

 
—

 
(6,105
)
 
 
320

Pre-tax gain (loss) on sale
—

 
—

 
(735
)
 
 
—

Tax (provision) benefit
—

 
—

 
557

 
 
(138
)
Discontinued operations, net
$
—

 
$
—

 
$
(6,283
)
 
 
$
182


On April 29, 2011, the Company entered into an agreement to sell certain assets and the working capital of Difco Performance Fibers, Inc. ("Difco") for cash proceeds of $10.9 million. The agreement provided that Difco would continue to produce goods during the three month manufacturing transition services agreement that expired in the third quarter of 2011. The sale was completed on May 10, 2011 and resulted in a loss of $0.7 million recognized during the eleven months ended December 31, 2011.