Discontinued Operations (Tables)
|6 Months Ended|
Jun. 27, 2020
|Discontinued Operations and Disposal Groups [Abstract]|
|Disposal Groups, Including Discontinued Operations [Table Text Block]||
The following table discloses the results of operations of the business reported as discontinued operations for the three months and six months ended June 27, 2020 and June 29, 2019, respectively:
(A) The Company recorded $3.1 million and $10.9 million for the three and six months ended June 29, 2019, respectively, of net costs incurred in connection with the sale of the Fitness business.
(B) In the first quarter of 2019, the Company re-evaluated the fair value of the Fitness reporting unit and determined the fair value of the business was less than its carrying value. As a result, the Company recorded a $137.2 million ($103.0 million after tax) goodwill impairment charge for the six months ended June 29, 2019.(C) Loss on disposal of discontinued operations, net of tax, for the six months ended June 27, 2020 includes a pre-tax loss of $1.5 million and a tax benefit of $0.4 million. Loss on disposal of discontinued operations, net of tax, for the three and six months ended June 29, 2019 includes a pre-tax loss of $47.7 million and a tax benefit of $6.2 million.
Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef