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Discontinued Operations | 12 Months Ended
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Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On July 6, 2015, the Company completed the sale of its Surface Inspection Systems Division (SISD) to AMETEK, Inc. (AMETEK) for $155,655,000 in cash. Transaction costs totaled $5,198,000 and included $1,106,000 of stock option expense from the accelerated vesting of stock options in connection with the sale. The financial results of SISD are reported as a discontinued operation for all periods presented. In 2015, a pre-tax gain of $125,357,000 and associated income tax expense of $47,175,000 was recorded in "Net income (loss) from discontinued operations" on the Consolidated Statements of Operations. In 2016, a binding arbitration was concluded in the second quarter of 2016 with respect to certain product performance claims made by an SISD customer, for which the Company remained responsible under the indemnity provisions of the sale transaction. In that proceeding, the tribunal ordered the Company to pay the customer approximately $326,000, primarily representing a refund of the product purchase price. The tribunal also ordered the customer to pay the Company approximately $45,000, primarily representing reimbursement of legal fees. The net settlement of $281,000 was recorded in discontinued operations in the second quarter of 2016, along with $123,000 of legal fees. The tax benefit related to this expense was $149,000, resulting in a net loss from discontinued operations of $255,000. The major classes of revenue and expense included in discontinued operations were as follows (in thousands):
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Revenue |  | $ | — |  |  | $ | 23,248 |  |  | $ | 59,821 |
Cost of revenue |  | — |  |  | (11,291 | ) |  | (26,953 | )
Research, development, and engineering expenses |  | — |  |  | (2,126 | ) |  | (4,089 | )
Selling, general, and administrative expenses |  | — |  |  | (7,800 | ) |  | (12,968 | )
Foreign currency loss |  | — |  |  | (177 | ) |  | (170 | )
Operating income from discontinued business |  | — |  |  | 1,854 |  |  | 15,641 |
Gain (loss) on sale of discontinued business |  | (404 | ) |  | 125,357 |  |  | — |
Income from discontinued operations before income tax expense |  | (404 | ) |  | 127,211 |  |  | 15,641 |
Income tax expense (benefit) on discontinued operations |  | (149 | ) |  | 47,801 |  |  | 4,997 |
Net income (loss) from discontinued operations |  | $ | (255 | ) |  | $ | 79,410 |  |  | $ | 10,644 |
Significant non-cash items related to the discontinued business were as follows (in thousands):
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Stock-based compensation expense |  | $ | — |  |  | $ | 1,533 |  |  | $ | 1,099 |
Depreciation expense |  | — |  |  | 401 |  |  | 777 |
Amortization expense |  | — |  |  | 165 |  |  | 364 |
Capital expenditures |  | — |  |  | 482 |  |  | 631 |

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- Definition Disclosure of accounting policy for discontinued operations. Includes, but is not limited to, method of interest allocation to a discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=68058157&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section S99 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26872618&loc=d3e7436-122677 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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