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Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.21.2
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Oct. 02, 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 from discontinued operations, net of tax line item in the Consolidated Statements of Operations:
Ìý Three Months Ended September Six Months Ended September
(In thousands) 2021 2020 2021 2020
Net revenues
 $ —Ìý $ 162,310Ìý $ 181,424Ìý $ 287,643Ìý
Cost of goods sold
 —Ìý 113,147Ìý 117,193Ìý 214,617Ìý
Selling, general and administrative expenses
 —Ìý 34,911Ìý 38,735Ìý 68,167Ìý
Interest income, net
 —Ìý 180Ìý 194Ìý 473Ìý
Other income (expense), net
 —Ìý 79Ìý 6Ìý 79Ìý
Income from discontinued operations before income taxes
 —Ìý 14,511Ìý 25,696Ìý 5,411Ìý
Gain on the sale of discontinued operations before income taxes
 —Ìý —Ìý 133,571Ìý —Ìý
Total income from discontinued operations before income taxes
 —Ìý 14,511Ìý 159,267Ìý 5,411Ìý
Income tax expense (benefit) (a)
—Ìý 1,035Ìý (11,006) (194)
Income from discontinued operations, net of tax
 $ —Ìý $ 13,476Ìý $ 170,273Ìý $ 5,605Ìý
(a)Income tax benefit for the six months ended September 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 as of March 2021 and September 2020.
(In thousands) March 2021 September 2020
Cash and equivalents
 $ 34,132Ìý $ 26,846Ìý
Accounts receivable, net
 103,835Ìý 82,520Ìý
Inventories
 245,227Ìý 241,519Ìý
Other current assets
 8,208Ìý 7,773Ìý
Property, plant and equipment, net
 49,394Ìý 47,964Ìý
Intangible assets, net
 54,471Ìý 54,471Ìý
Goodwill
 43,530Ìý 43,530Ìý
Operating lease right-of-use assets
 43,220Ìý 42,445Ìý
Other assets
 5,561Ìý 5,609Ìý
Total assets of discontinued operations
 $ 587,578Ìý $ 552,677Ìý
Accounts payable
 $ 59,965Ìý $ 46,493Ìý
Accrued liabilities
 38,956Ìý 32,322Ìý
Operating lease liabilities
 31,301Ìý 34,688Ìý
Other liabilities
 3,863Ìý 5,177Ìý
Deferred income tax liabilities (a)
(8,828) (4,324)
Total liabilities of discontinued operations
 $ 125,257Ìý $ 114,356Ìý
(a)Deferred income tax balances reflect ±«ÓãÖ±²¥'s consolidated netting by jurisdiction.