Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.19.3.a.u2
Discontinued Operations (Tables)
9 Months Ended
Nov. 02, 2019
Discontinued Operations  
Summary of information attributable to discontinued operations

November 3,

February 2,

2018

2019

ASSETS

Cash and cash equivalents

$

12,132

$

22,760

Accounts receivable, net

46,059

38,387

Inventories

102,797

106,340

Other current assets

4,370

3,889

Total current assets

165,358

171,376

Property and equipment, net

14,817

14,856

Other assets

10,714

10,215

Total assets

$

190,889

$

196,447

LIABILITIES

Accounts payable

$

17,844

$

24,204

Accrued expenses and other current liabilities

15,817

15,821

Total current liabilities

33,661

40,025

Other liabilities

4,452

5,477

Total liabilities

$

38,113

$

45,502

 

The following table provides details of the amounts reflected in loss from discontinued operations, net of tax in the condensed consolidated statements of (loss) earnings for the three and nine months ended November 2, 2019 and November 3, 2018 (in thousands):

For the Three Months Ended

For the Nine Months Ended

    

November 2, 2019

    

November 3, 2018

    

November 2, 2019

    

November 3, 2018

Net sales

$

7,376

$

61,006

$

117,444

$

179,643

Cost of sales

5,507

43,765

85,042

130,112

Selling, general and administrative expenses

2,200

13,427

30,049

41,812

Goodwill impairment charge

23,991

23,991

Loss on sale of corporate apparel business

83,723

82,808

Loss on release of cumulative foreign currency translation adjustment

26,885

26,885

Loss from discontinued operations before taxes

(110,939)

(20,177)

(107,340)

(16,272)

Income tax expense

6,439

735

4,766

1,503

Loss from discontinued operations, net of tax

$

(117,378)

$

(20,912)

$

(112,106)

$

(17,775)

The cash flows related to discontinued operations have not been segregated, and are included in the condensed consolidated statement of cash flows.  The following table provides selected information on cash flows related to discontinued operations for the nine months ended November 2, 2019 and November 3, 2018 (in thousands):

For the Nine Months Ended

    

November 2, 2019

    

November 3, 2018

Depreciation and amortization

$

3,102

$

4,382

Capital expenditures

2,677

3,198

Significant non-cash operating and investing items:

Goodwill impairment charge

23,991

Loss on divestiture of business

82,808

Loss on release of cumulative foreign currency translation adjustment

26,885

Receivable related to sale of corporate apparel business

$

6,048

$