Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Details)

v3.20.2
Discontinued Operations (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
May 06, 2019
Jun. 27, 2020
Jun. 29, 2019
Mar. 30, 2019
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2019
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]              
Net Sales   $ 0.0 $ 223.1   $ 0.0 $ 448.3  
Cost of Sales   0.0 167.5   0.0 334.6  
Selling, General and Administrative Expense   0.6 52.8 [1]   1.4 109.1 [1]  
Research and Development Expense   0.0 6.0   0.0 12.3  
Restructuring, Exit and Impairment Charges   0.0 0.0   0.0 138.3 [2]  
Loss from Discontinued Operations Before Income Taxes   (0.6) (3.2) [1]   (1.4) (146.0) [1],[2]  
Income Tax Benefit   (0.1) (10.1)   (0.3) (40.4)  
Loss from Discontinued Operations, Net of Tax   (0.5) 6.9 [1]   (1.1) (105.6) [1],[2]  
Loss on Disposal of Discontinued Operations, Net of Tax   0.0 (41.5) [3]   (1.1) [3] (41.5) [3]  
Loss from Discontinued Operations, Net of Tax   (0.5) (34.6)   (2.2) (147.1)  
Loss from Disposal of Discontinued Operations, Pre-Tax     47.7   1.5    
Tax Benefit of Loss from Disposal of Discontinued Operation         0.4 6.2  
Fitness [Member]              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Net Cash Proceeds $ 473.7            
Retained Assets   10.8     10.8   $ 26.4
Retained Liabilities   $ 28.5     $ 28.5   $ 45.1
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]              
Loss on Disposal of Discontinued Operations, Net of Tax $ (43.9)            
Goodwill, Impairment Loss       $ 137.2      
Goodwill, Impairment Loss, Net of Tax       $ 103.0      
Business Exit Costs     $ 3.1     $ 10.9  
[1]
(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.
[2]
(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.
[3]
(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.