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Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.21.2
DISCONTINUED OPERATIONS (Tables)
 3 Months Ended
Jul. 03, 2021
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 that are included in the income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Operations:
Ìý Three Months Ended June
(In thousands) 2021 2020
Net revenues
 $ 181,424Ìý $ 125,333Ìý
Cost of goods sold
 117,193Ìý 101,470Ìý
Selling, general and administrative expenses
 38,735Ìý 33,256Ìý
Interest income, net
 194Ìý 293Ìý
Other income (expense), net
 6Ìý —Ìý
Income (loss) from discontinued operations before income taxes
 25,696Ìý (9,100)
Gain on the sale of discontinued operations before income taxes
 133,571Ìý —Ìý
Total income (loss) from discontinued operations before income taxes
 159,267Ìý (9,100)
Income tax benefit (a)
(11,006) (1,229)
Income (loss) from discontinued operations, net of tax
 $ 170,273Ìý $ (7,871)
(a)Income tax benefit for the three months ended June 2021 includes $12.0Ìýmillion of deferred tax benefit related to capital and other losses realized upon the sale of the Occupational Workwear 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) June 2021 March 2021 June 2020
Cash and equivalents
 $ —Ìý $ 34,132Ìý $ 42,986Ìý
Accounts receivable, net
 —Ìý 103,835Ìý 64,065Ìý
Inventories
 —Ìý 245,227Ìý 258,632Ìý
Other current assets
 —Ìý 8,208Ìý 10,027Ìý
Property, plant and equipment, net
 —Ìý 49,394Ìý 46,697Ìý
Intangible assets, net
 —Ìý 54,471Ìý 54,471Ìý
Goodwill
 —Ìý 43,530Ìý 43,530Ìý
Operating lease right-of-use assets
 —Ìý 43,220Ìý 39,452Ìý
Other assets
 —Ìý 5,561Ìý 5,275Ìý
Total assets of discontinued operations
 $ —Ìý $ 587,578Ìý $ 565,135Ìý
Accounts payable
 $ —Ìý $ 59,965Ìý $ 27,810Ìý
Accrued liabilities
 —Ìý 38,956Ìý 31,134Ìý
Operating lease liabilities
 —Ìý 31,301Ìý 34,462Ìý
Other liabilities
 —Ìý 3,863Ìý 2,284Ìý
Deferred income tax liabilities (a)
—Ìý (8,828) (4,407)
Total liabilities of discontinued operations
 $ —Ìý $ 125,257Ìý $ 91,283Ìý
(a)Deferred income tax balances reflect ±«ÓãÖ±²¥'s consolidated netting by jurisdiction