| Schedule of Discontinued Operations Presented in Financial Statements |
The following table summarizes the major line items for the Nautica® brand business and the Licensing Business that are included in the income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Income:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ìý |
Ìý |
Three Months Ended December |
Ìý |
Ìý |
Nine Months Ended December |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
(In thousands) |
Ìý |
2018 |
Ìý |
Ìý |
2017 |
Ìý |
Ìý |
2018 |
Ìý |
Ìý |
2017 |
Net revenues |
Ìý |
$ |
— |
|
Ìý |
Ìý |
$ |
139,878 |
|
Ìý |
Ìý |
$ |
21,913 |
|
Ìý |
Ìý |
$ |
385,716 |
|
Cost of goods sold |
Ìý |
— |
|
Ìý |
Ìý |
77,888 |
|
Ìý |
Ìý |
14,706 |
|
Ìý |
Ìý |
218,081 |
|
Selling, general and administrative expenses |
Ìý |
— |
|
Ìý |
Ìý |
44,356 |
|
Ìý |
Ìý |
12,391 |
|
Ìý |
Ìý |
129,825 |
|
Impairment of goodwill |
Ìý |
— |
|
Ìý |
Ìý |
— |
|
Ìý |
Ìý |
— |
|
Ìý |
Ìý |
104,651 |
|
Interest expense, net |
Ìý |
— |
|
Ìý |
Ìý |
(1 |
) |
Ìý |
Ìý |
— |
|
Ìý |
Ìý |
(9 |
) |
Other income (expense), net |
Ìý |
— |
|
Ìý |
Ìý |
(3 |
) |
Ìý |
Ìý |
272 |
|
Ìý |
Ìý |
5 |
|
Income (loss) from discontinued operations before income taxes |
Ìý |
— |
|
Ìý |
Ìý |
17,630 |
|
Ìý |
Ìý |
(4,912 |
) |
Ìý |
Ìý |
(66,845 |
) |
Gain (loss) on the sale of discontinued operations before income taxes |
Ìý |
383 |
|
Ìý |
Ìý |
(24,513 |
) |
Ìý |
Ìý |
4,589 |
|
Ìý |
Ìý |
(30,488 |
) |
Total income (loss) from discontinued operations before income taxes |
Ìý |
383 |
|
Ìý |
Ìý |
(6,883 |
) |
Ìý |
Ìý |
(323 |
) |
Ìý |
Ìý |
(97,333 |
) |
Income tax (expense) benefit |
Ìý |
— |
|
Ìý |
Ìý |
(10,407 |
) |
Ìý |
Ìý |
1,111 |
|
Ìý |
Ìý |
(4,840 |
) |
Income (loss) from discontinued operations, net of tax |
Ìý |
$ |
383 |
|
Ìý |
Ìý |
$ |
(17,290 |
) |
Ìý |
Ìý |
$ |
788 |
|
Ìý |
Ìý |
$ |
(102,173 |
) |
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented:
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|
(In thousands) |
Ìý |
December 2018 |
Ìý |
Ìý |
March 2018 |
Ìý |
December 2017 |
Cash |
Ìý |
$ |
— |
|
Ìý |
Ìý |
$ |
2,330 |
|
Ìý |
$ |
2,592 |
|
Accounts receivable, net |
Ìý |
— |
|
Ìý |
Ìý |
26,298 |
|
Ìý |
27,941 |
|
Inventories |
Ìý |
— |
|
Ìý |
Ìý |
55,610 |
|
Ìý |
43,297 |
|
Other current assets |
Ìý |
— |
|
Ìý |
Ìý |
1,247 |
|
Ìý |
2,497 |
|
Property, plant and equipment, net |
Ìý |
— |
|
Ìý |
Ìý |
15,021 |
|
Ìý |
14,914 |
|
Intangible assets |
Ìý |
— |
|
Ìý |
Ìý |
262,202 |
|
Ìý |
262,352 |
|
Goodwill |
Ìý |
— |
|
Ìý |
Ìý |
49,005 |
|
Ìý |
49,005 |
|
Other assets |
Ìý |
— |
|
Ìý |
Ìý |
3,961 |
|
Ìý |
3,631 |
|
Allowance to reduce assets to estimated fair value, less costs to sell |
Ìý |
— |
|
Ìý |
|
(42,094 |
) |
Ìý |
(25,529 |
) |
Total assets of discontinued operations |
Ìý |
$ |
— |
|
Ìý |
Ìý |
$ |
373,580 |
|
Ìý |
$ |
380,700 |
|
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Accounts payable |
Ìý |
$ |
— |
|
Ìý |
Ìý |
$ |
11,619 |
|
Ìý |
$ |
16,993 |
|
Accrued liabilities |
Ìý |
— |
|
Ìý |
Ìý |
10,658 |
|
Ìý |
18,203 |
|
Other liabilities |
Ìý |
— |
|
Ìý |
Ìý |
11,912 |
|
Ìý |
12,011 |
|
Deferred income tax liabilities (a)
|
Ìý |
— |
|
Ìý |
Ìý |
51,838 |
|
Ìý |
53,812 |
|
Total liabilities of discontinued operations |
Ìý |
$ |
— |
|
Ìý |
Ìý |
$ |
86,027 |
|
Ìý |
$ |
101,019 |
|
|
|
(a)Ìý |
Deferred income tax balances reflect ±«ÓãÖ±²¥â€™s consolidated netting by jurisdiction. |
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