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Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.20.4
DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Dec. 26, 2020
Discontinued Operations and Disposal Groups [Abstract] Ìý
Schedule of Discontinued Operations Presented in Financial Statements
The following table summarizes the major line items for the Occupational Workwear business and the Jeans business that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Operations:
Ìý Three Months Ended December Nine Months Ended December
(In thousands) 2020 2019 2020 2019
Net revenues
 $ 176,464Ìý $ 229,023Ìý $ 464,107Ìý $ 998,561Ìý
Cost of goods sold
 115,801Ìý 148,810Ìý 330,418Ìý 632,754Ìý
Selling, general and administrative expenses
 35,576Ìý 41,450Ìý 103,743Ìý 279,933Ìý
Interest income, net
 68Ìý 523Ìý 541Ìý 1,115Ìý
Other income (expense), net
 22Ìý (8) 101Ìý (672)
Income from discontinued operations before income taxes
 25,177Ìý 39,278Ìý 30,588Ìý 86,317Ìý
Income tax expense (benefit) (a)
5,596Ìý (4,143) 5,402Ìý 35,324Ìý
Income from discontinued operations, net of tax
 $ 19,581Ìý $ 43,421Ìý $ 25,186Ìý $ 50,993Ìý
(a)Income tax benefit for the three months ended December 2019 reflects a return to accrual adjustment to the previously recorded tax expense related to the Jeans business. Income tax expense for the nine months ended December 2019 includes additional tax expense on nondeductible transaction costs and uncertain tax positions related to the Jeans business.
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented:
(In thousands) December 2020 March 2020 December 2019
Cash and equivalents
 $ 18,771Ìý $ 39,752Ìý $ 43,922Ìý
Accounts receivable, net
 91,554Ìý 83,650Ìý 101,835Ìý
Inventories
 242,204Ìý 294,000Ìý 310,510Ìý
Other current assets
 12,802Ìý 6,701Ìý 8,137Ìý
Property, plant and equipment, net
 48,605Ìý 44,863Ìý 41,566Ìý
Intangible assets, net
 54,472Ìý 54,471Ìý 60,443Ìý
Goodwill
 43,530Ìý 43,530Ìý 49,630Ìý
Operating lease right-of-use assets
 42,930Ìý 38,941Ìý 39,565Ìý
Other assets
 5,780Ìý 5,231Ìý 5,098Ìý
Total assets of discontinued operations
 $ 560,648Ìý $ 611,139Ìý $ 660,706Ìý
Accounts payable
 $ 50,434Ìý $ 63,380Ìý $ 67,244Ìý
Accrued liabilities
 34,470Ìý 29,699Ìý 33,812Ìý
Operating lease liabilities
 33,073Ìý 35,867Ìý 38,310Ìý
Other liabilities
 6,303Ìý 2,270Ìý 2,651Ìý
Deferred income tax liabilities (a)
(4,095) (4,435) (10,247)
Total liabilities of discontinued operations
 $ 120,185Ìý $ 126,781Ìý $ 131,770Ìý
(a)Deferred income tax balances reflect ±«ÓãÖ±²¥'s consolidated netting by jurisdiction