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Disposed and Discontinued Operations | 12 Months Ended
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Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Disposed and Discontinued Operations | 5. Discontinued and Disposed Operations Discontinued Operations The Apergy businesses, as discussed in Note 2, met the criteria to be reported as discontinued operations because the spin-off is a strategic shift in business that has a major effect on the Company's operations and financial results. Therefore, the results of discontinued operations for the years ended December 31, 2018, 2017 and 2016 include the historical results of Apergy prior to its distribution on May 9, 2018. The years ended December 31, 2018, 2017 and 2016 included costs incurred by Dover to complete the spin-off of Apergy amounting to $46,384, $15,270 and $0, respectively, reflected in selling, general and administrative expenses in discontinued operations. Due to lump-sum payments made in 2018 for Apergy participants of the Dover U.S. Pension Plan, non-cash settlement and curtailment costs of approximately $9,200 was classified within discontinuing operations. See Note 2 — Spin-off of Apergy Corporation and Note 16 — Employee Benefit Plans for further information. Summarized results of the Company's discontinued operations are as follows:
|  |  |  |  | Years Ended December 31, |  |  |  |
|  |  |  |  | 2018 |  | 2017 |  | 2016
Revenue |  |  |  |  | $ | 403,688 |  | 1,010,135 |  | $ | 751,808
Cost of goods and services |  |  |  |  | 254,205 |  | 648,805 |  | 507,392
Gross profit |  |  |  |  | 149,483 |  | 361,330 |  | 244,416
Selling, general and administrative expenses |  |  |  |  | 147,261 |  | 262,353 |  | 236,510
Operating earnings |  |  |  |  | 2,222 |  | 98,977 |  | 7,906
Other expense, net |  |  |  |  | 9,048 |  | 949 |  | 3,218
(Loss) earnings from discontinued operations before taxes |  |  |  |  | (6,826) |  | 98,028 |  | 4,688
Provision (benefit) for income taxes |  |  |  |  | 14,052 |  | 33,026 |  | (2,076)
(Loss) earnings from discontinued operations, net of tax |  |  |  |  | $ | (20,878) |  | 65,002 |  | $ | 6,764
Assets and liabilities of discontinued operations are summarized below:
|  |  | December 31, 2017 |  |
Assets of Discontinued Operations |  |  |  |  |
Accounts receivable |  |  | $ | 202,052 |  |
Inventories, net |  |  | 201,591 |  |
Prepaid and other current assets |  |  | 14,035 |  |
Total current assets |  |  | 417,678 |  |
Property, plant and equipment, net |  |  | 211,832 |  |
Goodwill and intangible assets, net |  |  | 1,232,843 |  |
Other assets and deferred charges |  |  | 3,200 |  |
Total assets |  |  | $ | 1,865,553 |  |
Liabilities of Discontinued Operations |  |  |  |  |
Accounts payable |  |  | $ | 97,439 |  |
Other current liabilities |  |  | 59,482 |  |
Total current liabilities |  |  | 156,921 |  |
Deferred income taxes |  |  | 90,641 |  |
Other liabilities |  |  | 16,691 |  |
Total liabilities |  |  | $ | 264,253 |  |
On May 9, 2018, all assets and liabilities of Apergy were spun-off. Therefore, as of December 31, 2018, there were no assets and liabilities classified as discontinued operations. Disposed Businesses 2018 There were no other material dispositions in 2018 aside from the spin-off of Apergy. 2017 On November 1, 2017, the Company completed the sale of the consumer and industrial winch business of Warn Industries, Inc. ("Warn"), a wholly owned subsidiary of the Company, for total consideration of $250,283. The Company recognized a pre-tax gain on sale of $116,932. The Company retained the automotive business of Warn within the Industrials platform of the Engineered Systems segment. On February 14, 2017, the Company completed the sale of Performance Motorsports International ("PMI"), a wholly owned subsidiary of the Company that manufactures pistons and other engine related components serving the motorsports and powersports markets. Total consideration for the transaction was $147,313, including cash proceeds of $118,706. The Company recognized a pre-tax gain on sale of $88,402 and recorded a 25% equity method investment at fair value of $18,607 as well as a subordinated note receivable of $10,000. Other immaterial dispositions completed during the year were recorded as a net pre-tax loss of $2,196. Gains and losses recorded from the sale of businesses were reported in the gain on sale of businesses line in the Consolidated Statements of Earnings. 2016 On February 17, 2016, the Company completed the sale of Texas Hydraulics, a custom manufacturer of fluid power components within the Engineered Systems segment. The Company received gross proceeds of $47,300 and in connection with the sale of Texas Hydraulics, the Company recorded a pre-tax gain of $11,853. On November 1, 2016, the Company completed the sale of Tipper Tie, a global supplier of processing and clip packaging machines within the Refrigeration & Food Equipment segment. The Company received gross proceeds of $158,887 with the sale and recorded a pre-tax gain of $85,035. Management evaluates Dover's businesses periodically and may from time to time sell or discontinue certain operations for various reasons. The disposals in 2017 and 2016 did not represent strategic shifts in operations and, therefore, did not qualify for presentation as a discontinued operation, unless otherwise noted.

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- Definition The entire disclosure 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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