大象传媒 Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables)

DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables)

12 Months Ended

Mar. 28, 2020

Discontinued Operations and Disposal Groups [Abstract]

听

Schedule of Discontinued Operations Presented in Financial Statements

The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.



(In thousands)	听	March 2020			听	听	March 2019
Cash and equivalents	听	$	39,752		听	听	$	140,785
Accounts receivable, net	听	83,650			听	听	336,171
Inventories	听	294,000			听	听	769,928
Other current assets	听	6,701			听	听	53,008
Property, plant and equipment, net	听	44,863			听	听	181,175
Intangible assets	听	54,471			听	听	116,820
Goodwill	听	43,530			听	听	263,200
Operating lease right-of-use assets	听	38,941			听	听	鈥�
Other assets	听	5,231			听	听	78,417
Total assets of discontinued operations	听	$	611,139		听	听	$	1,939,504
听	听	听			听	听	听
Short-term borrowings	听	$	鈥�		听	听	$	5,995
Accounts payable	听	63,380			听	听	205,133
Accrued liabilities	听	29,699			听	听	171,311
Operating lease liabilities	听	35,867			听	听	鈥�
Other liabilities	听	2,270			听	听	85,033
Deferred income tax liabilities ^(a)	听	(4,435		)	听	听	(39,133		)
Total liabilities of discontinued operations	听	$	126,781		听	听	$	428,339

^(a)听

Deferred income tax balances reflect 大象传媒's consolidated netting by jurisdiction.

Other Divestitures

The following table summarizes the major line items included for the Occupational Workwear business, the Jeans business, the Nautica^庐 brand business and the Licensing Business that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Income:



听	听	Year Ended March								听	Three Months Ended March (Transition Period)			听	Year Ended December
听	听	听			听	听	听			听	听			听	听
(In thousands)	听	2020			听	听	2019			听	2018			听	2017
Net revenues	听	$	1,199,524		听	听	$	3,603,686		听	$	958,262		听	$	4,004,876
Cost of goods sold	听	773,418			听	听	2,185,861			听	546,640			听	2,345,075
Selling, general and administrative expenses	听	320,462			听	听	937,351			听	238,342			听	983,043
Impairment of goodwill and intangible assets	听	11,100			听	听	鈥�			听	鈥�			听	104,651
Interest, net	听	1,601			听	听	7,305			听	1,417			听	3,065
Other income (expense), net	听	(687		)	听	听	(3,600		)	听	(1,113		)	听	(4,125		)
Income from discontinued operations before income taxes	听	95,458			听	听	484,179			听	173,584			听	571,047
Gain (loss) on the sale of discontinued operations before income taxes	听	鈥�			听	听	4,589			听	(18,065		)	听	(34,019		)
Total income from discontinued operations before income taxes	听	95,458			听	听	488,768			听	155,519			听	537,028
Income tax expense ^(a)	听	(45,155		)	听	听	(99,402		)	听	(31,701		)	听	(190,175		)
Income from discontinued operations, net of tax	听	$	50,303		听	听	$	389,366		听	$	123,818		听	$	346,853

^(a)听

Income tax expense for the year ended March 2020 includes additional tax expense on nondeductible transaction costs and uncertain tax positions related to the Jeans business. Income tax expense for the year ended December 2017 was impacted by $8.6 million of tax expense related to GAAP and tax basis differences for the LSG business. Additionally, the goodwill impairment charge and estimated loss on sale related to the Nautica^庐 brand business for the year ended December 2017 were nondeductible for income tax purposes.

- Definition

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.

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+ Details