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Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.21.4
DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Jan. 01, 2022
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 December Nine Months Ended December
(In thousands) 2021 2020 2021 2020
Net revenues
 $ —Ìý $ 176,464Ìý $ 181,424Ìý $ 464,107Ìý
Cost of goods sold
 —Ìý 115,801Ìý 117,193Ìý 330,418Ìý
Selling, general and administrative expenses
 —Ìý 35,576Ìý 38,735Ìý 103,743Ìý
Interest income, net
 —Ìý 68Ìý 194Ìý 541Ìý
Other income (expense), net
 —Ìý 22Ìý 6Ìý 101Ìý
Income from discontinued operations before income taxes
 —Ìý 25,177Ìý 25,696Ìý 30,588Ìý
Gain on the sale of discontinued operations before income taxes
 —Ìý —Ìý 133,571Ìý —Ìý
Total income from discontinued operations before income taxes
 —Ìý 25,177Ìý 159,267Ìý 30,588Ìý
Income tax expense (benefit) (a)
—Ìý 5,596Ìý (11,006) 5,402Ìý
Income from discontinued operations, net of tax
 $ —Ìý $ 19,581Ìý $ 170,273Ìý $ 25,186Ìý
(a)Income tax benefit for the nine months ended December 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 December 2020.
(In thousands) March 2021 December 2020
Cash and equivalents
 $ 34,132Ìý $ 18,771Ìý
Accounts receivable, net
 103,835Ìý 91,554Ìý
Inventories
 245,227Ìý 242,204Ìý
Other current assets
 8,208Ìý 12,802Ìý
Property, plant and equipment, net
 49,394Ìý 48,605Ìý
Intangible assets, net
 54,471Ìý 54,472Ìý
Goodwill
 43,530Ìý 43,530Ìý
Operating lease right-of-use assets
 43,220Ìý 42,930Ìý
Other assets
 5,561Ìý 5,780Ìý
Total assets of discontinued operations
 $ 587,578Ìý $ 560,648Ìý
Accounts payable
 $ 59,965Ìý $ 50,434Ìý
Accrued liabilities
 38,956Ìý 34,470Ìý
Operating lease liabilities
 31,301Ìý 33,073Ìý
Other liabilities
 3,863Ìý 6,303Ìý
Deferred income tax liabilities (a)
(8,828) (4,095)
Total liabilities of discontinued operations
 $ 125,257Ìý $ 120,185Ìý
(a)Deferred income tax balances reflect ±«ÓãÖ±²¥'s consolidated netting by jurisdiction.