XML 29 R15.htm IDEA: XBRL DOCUMENT
v3.10.0.1

DISPOSITION OF BUSINESS | 12 Months Ended
--- | ---
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
DISPOSITION OF BUSINESS | DISPOSITION OF BUSINESSES 2017 Disposition On June 30, 2017, the Company completed the sale of its Transformer Services business, as part of its continuous focus on improving or divesting certain non-core operations. The Transformer Services business was a non-core business previously included within the former Technical Services operating segment and was sold for $45.5 million ($43.4 million net of $2.1 million in transactional related costs). As a result of the sale, the Company recognized during the year ended December 31, (5) DISPOSITION OF BUSINESSES (Continued) 2017, a pre-tax gain of $30.7 million which was included in gain on sale of business in the Company’s consolidated statement of operations. The following table presents the carrying amounts of the Company's Transformer Services business that was disposed of on June 30, 2017 (in thousands):
| June 30, 2017
Total current assets | $ | 7,241 |
Property, plant and equipment, net | 8,773 |
Total other assets | 1,681 |
Total assets divested | 17,695 |
Total current liabilities | 3,849 |
Total other liabilities | 1,170 |
Total liabilities divested | 5,019 |
Net carrying value divested | $ | 12,676 |
The Company evaluated the disposition and determined it did not meet the “major effect” criteria for classification as a discontinued operation largely due to the nature and size of the operations of the disposed entity. However, the Company determined that the disposition represented an individually significant component of the Company’s business. The following table presents income attributable to the Transformer Services business included in the Company's consolidated results of operations for each of the periods shown and through its disposition on June 30, 2017 (in thousands):
| For the years ended December 31,
| 2017 |  | 2016
Income before provision (benefit) for income taxes | $ | 2,771 |  |  | $ | 4,187 |
2016 Disposition On September 1, 2016, the Company completed the sale of its Catalyst Services business, which was a non-core business previously included within the former Industrial Services operating segment, for approximately $50.6 million ($49.2 million net of cash retained by the Catalyst Services business). As a result of the sale, the Company recognized during the year ended December 31, 2016, a pre-tax gain of $16.9 million which was included in gain on sale of business in the Company’s consolidated statement of operations. Inclusive within this gain was $1.6 million of transactional related costs. During the first quarter of 2017, the Company and the buyer of the Catalyst Services business agreed to final working capital amounts and as a result the Company received $2.0 million of final sale proceeds. (5) DISPOSITION OF BUSINESSES (Continued) The following table presents the carrying amounts of the Company's Catalyst Services business immediately preceding the disposition on September 1, 2016 (in thousands):
| September 1, 2016
Total current assets | $ | 19,019 |
Property, plant and equipment, net | 11,154 |
Total other assets | 6,500 |
Total assets divested | 36,673 |
Total current liabilities | 4,040 |
Total other liabilities | 566 |
Total liabilities divested | 4,606 |
Net carrying value divested | $ | 32,067 |
The Company evaluated the disposition and determined it did not meet the “major effect” criteria for classification as a discontinued operation largely due to the nature and size of the operations of the disposed of entity. However, the Company determined that the disposition did represent an individually significant component of its business. The following table presents income attributable to the Catalyst Services business included in the Company's consolidated results of operations for the period shown and through its disposition on September 1, 2016 (in thousands):
| For the year ended December 31,
| 2016
Income before provision (benefit) for income taxes | $ | 290 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration