Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Details)

v3.19.3
Discontinued Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
May 06, 2019
Sep. 28, 2019
Sep. 29, 2018
Sep. 28, 2019
Sep. 29, 2018
Jun. 27, 2019
Jan. 01, 2019
Dec. 31, 2018
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]                
Net Sales   $ 0.0 $ 254.0 $ 448.3 $ 750.6      
Cost of Sales   0.0 187.4 334.6 548.6      
Selling, General and Administrative Expense [1]   3.2 58.3 112.3 153.0      
Earnings (Loss) from Discontinued Operations Before Income Taxes [1]   (3.2) (7.0) (149.2) [2] 17.5      
Income Tax Provision (Benefit)   (0.3) (1.8) (40.7) 2.7      
Earnings (Loss) from Discontinued Operations, Net of Tax [1]   (2.9) (5.2) (108.5) [2] 14.8      
Loss on Disposal of Discontinued Operations, Net of Tax   (3.5) 0.0 (45.0) [3] 0.0      
Net Earnings (Loss) from Discontinued Operations, Net of Tax   (6.4) (5.2) (153.5) 14.8      
Loss from Disposal of Discontinued Operations, Pre-Tax   4.7   52.4        
Tax Benefit of Loss from Disposal of Discontinued Operation   0.0   7.4        
Goodwill, Impairment Loss       0.0 0.0      
Disposal Group, Including Discontinued Operation, Classified Balance Sheet Disclosures [Abstract]                
Current Assets Held for Sale   0.0 370.0 0.0 370.0     $ 377.2
Long-Term Assets Held for Sale   0.0 623.0 0.0 623.0   $ 631.4 610.3
Assets Held for Sale     983.9   983.9     978.6
Current Liabilities Held for Sale   0.0 245.1 0.0 245.1   257.9 255.0
Long-Term Liabilities Held for Sale   0.0 96.1 0.0 96.1   $ 117.8 99.6
Assets Held-for-sale, Not Part of Disposal Group   3.0 9.1 3.0 9.1     8.9
Fitness [Member]                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Net Cash Proceeds $ 473.7              
Retained Assets   26.4   26.4   $ 26.4    
Retained Liabilities   42.6   42.6   $ 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 $ (45.0)              
Goodwill, Impairment Loss       137.2        
Goodwill, Impairment Loss, Net of Tax       103.0        
Business Exit Costs   2.5 8.7 13.4 12.9      
Disposal Group, Including Discontinued Operation, Classified Balance Sheet Disclosures [Abstract]                
Accounts and Notes Receivable, Net     185.3   185.3     198.9
Net inventory     174.2   174.2     169.7
Prepaid Expenses and Other     10.5   10.5     8.6
Current Assets Held for Sale     370.0   370.0     377.2
Net Property [4]     114.7   114.7     110.9
Goodwill     390.8   390.8     389.8
Other Intangibles, Net     76.2   76.2     60.6
Other Long-Term Assets     41.3   41.3     49.0
Long-Term Assets Held for Sale     623.0   623.0     610.3
Assets Held for Sale   0.0 993.0 0.0 993.0     987.5
Accounts Payable     62.0   62.0     69.7
Accrued Expenses     183.1   183.1     185.3
Current Liabilities Held for Sale     245.1   245.1     255.0
Other Liabilities     96.1   96.1     99.6
Long-Term Liabilities Held for Sale     96.1   96.1     99.6
Liabilities Held for Sale   $ 0.0 $ 341.2 $ 0.0 $ 341.2     $ 354.6
[1]
(C) The Company recorded $2.5 million and $8.7 million, for the three months ended September 28, 2019 and September 29, 2018, respectively, and recorded $13.4 million and $12.9 million for the nine months ended September 28, 2019 and September 29, 2018, respectively, of net costs incurred in connection with the Fitness business separation.

[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, Earnings (loss) from discontinued operations, net of tax, includes a $137.2 million ($103.0 million after tax) goodwill impairment charge for the nine months ended September 29, 2019.
[3]
(A) The Loss on disposal of discontinued operations for the three months ended September 28, 2019 includes a pre-tax loss of $4.7 million and a tax benefit of $1.2 million. The Loss on disposal of discontinued operations for the nine months ended September 28, 2019 includes a pre-tax loss of $52.4 million and a net tax benefit of $7.4 million.
[4]
(A) As of December 31, 2018 and September 29, 2018, the Company had $8.9 million and $9.1 million, respectively, of net long-term assets classified as held for sale that were not related to the business reported as discontinued operations.