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DISCONTINUED OPERATIONS | 12 Months Ended
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Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Assets Held for Sale | 2. DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE As part of a strategic portfolio review conducted in 2014, the Corporation identified certain businesses it considered non-core. The Corporation considers businesses non-core when their products or services do not complement existing businesses and where the long-term growth and profitability prospects are below the Corporation’s expectations. As part of this initiative, the Corporation divested all five businesses during 2015 that were classified as held for sale as of December 31, 2014. The results of operations of these businesses are reported as discontinued operations within our Consolidated Statements of Earnings. The aggregate financial results of all discontinued operations for the years ended December 31 were as follows:
(In thousands) |  | 2017 | 2016 |  | 2015
Net sales |  | $ | — |  | $ | — |  |  | $ | 57,992 |
Loss from discontinued operations before income taxes (1) |  | — |  | — |  |  | (40,984 | )
Income tax benefit / (expense) |  | — |  | (2,053 | ) | (3) | 7,926 |
Loss on sale of businesses (2) |  | — |  | — |  |  | (13,729 | )
Loss from discontinued operations |  | $ | — |  | $ | (2,053 | ) |  | $ | (46,787 | )
(1) Loss from discontinued operations before income taxes includes approximately $40.8 million of held for sale impairment expense in the year ended December 31, 2015. (2) In the year ended December 31, 2015, the Corporation recognized aggregate after tax losses of $13.7 million on the sale of the Aviation Ground, Downstream Oil & Gas, Engineered Packaging and two surface technology businesses. (3) Amount represents finalization of the income tax provision related to discontinued operations for the year ended December 31, 2015. 2015 Divestitures Surface Technologies - Domestic In October 2015 and July 2015, the Corporation sold the assets and liabilities of two surface technology treatment facilities for less than $1 million. The businesses were previously classified within assets held for sale and reported within the Commercial/Industrial segment. Engineered Packaging In July 2015, the Corporation sold the assets and liabilities of its Engineered Packaging business for approximately $14 million and recognized a pre-tax gain of $2.3 million. The businesses were previously classified as assets held for sale and reported within the Defense segment. Downstream In May 2015, the Corporation completed the divestiture of its Downstream oil and gas business for $19 million, net of transaction costs. During the fourth quarter of 2015, the Company paid a $4.8 million working capital adjustment. The business was previously classified within assets held for sale. During 2015, the Corporation recognized a pre-tax loss on divestiture, including impairment charges, of $59.5 million. Aviation Ground In January 2015, the Corporation sold the assets of its Aviation Ground support business for £3 million ($4 million). The business was previously classified within assets held for sale and reported within the Defense segment.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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