Название:
Автор:
Жанр:
Серия:
Издательство:
Disposition of the European Home Décor Business on December 31, 20X2 resulted in a pretax loss on sale of $108 million and is included in the table above. The tax benefit associated with discontinued operations differs from the statutory rate due to the mix of earnings and loss in the various jurisdictions, the impact of various permanent items and other factors.
Assets and liabilities of discontinued operations presented in the consolidated balance sheets at December 31, 20X2, and December 26, 20X1 are included in the following table. Because the sale of the European Home Décor Business was completed before year‐end 20X2, the assets and liabilities of that business are not included as of December 31, 20X2.
| (In millions) | 20X2 | 20X1 | ||
| Assets | ||||
| Cash and cash equivalents | $ 44 | $ 209 | ||
| Receivables, net | 88 | 420 | ||
| Inventories | 82 | 292 | ||
| Prepaid expenses and other current assets | 4 | 35 | ||
| Property and equipment, net | 31 | — | ||
| Other assets | 6 | — | ||
| Valuation allowance | (113) | — | ||
| Current assets of discontinued operations | $ 142 | $ 956 | ||
| Property and equipment, net | $ — | $ 119 | ||
| Goodwill | — | 15 | ||
| Other assets | — | 48 | ||
| Noncurrent assets of discontinued operations | $ — | $ 182 | ||
| Liabilities | ||||
| Trade accounts payable | $ 60 | $ 331 | ||
| Accrued expenses and other current liabilities | 27 | 282 | ||
| Income taxes payable | 2 | 4 | ||
| Short‐term borrowings and current maturities of long‐term debt | 9 | 5 | ||
| Deferred income taxes and other long‐term liabilities | 6 | — | ||
| Current liabilities of discontinued operations | $ 104 | $ 622 | ||
| Deferred income taxes and other long‐term liabilities | $ — | $ 40 | ||
| Long‐term debt, net of current maturities | — | 6 | ||
| Noncurrent liabilities of discontinued operations | $ — |
| ||
