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Discontinued Operations
 3 Months Ended
Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
On February 29, 2016, the Company sold 100% of the stock associated with its South African personal protective equipment distribution business and its Zambian operations. The Company received $15.9 million from the closing of this transaction and recorded a loss of approximately $0.3 million during the first quarter of 2016.
During the second quarter of 2016, the Company corrected its gain calculation on the disposition of the South African personal protective equipment distribution business and its Zambian operations. This resulted in a gain of approximately $2.5 million being recorded during the second quarter in discontinued operations that should have been recorded in the first quarter of 2016. The Company evaluated materiality in accordance with SEC Staff Accounting Bulletins Topics 1.M and 1.N and considered relevant qualitative and quantitative factors. The Company concluded that this modification was not material to the first quarter of 2016 or the trend in earnings over the affected periods. The modification had no effect on cash flows or debt covenant compliance.
The operations of this business qualify as a component of an entity under FASB ASC 205-20 "Presentation of Financial Statements - Discontinued Operations", and thus the operations have been reclassified as discontinued operations and prior periods have been reclassified to conform to this presentation.
Summarized financial information for discontinued operations is as follows:
 
Three Months Ended March 31,
(In thousands)
2017
 
2016
Discontinued Operations
 
 
 
Net sales
$
—

 
$
5,261

Other loss, net
—

 
(288
)
Cost and expenses:
 
 
 
Cost of products sold
—

 
4,819

Selling, general and administrative
—

 
937

Currency exchange losses, net
—

 
18

Loss from discontinued operations before income taxes
—

 
(801
)
Provision for income taxes
—

 
328

Loss from discontinued operations, net of tax
$
—

 
$
(1,129
)
Certain balance sheet items that are related to the Company's South African personal protective equipment distribution business and its Zambian operations are reported as discontinued operations. These items are reported in the following consolidated balance sheet lines:
(In thousands)
March 31, 2017
 
December 31, 2016
Discontinued Operations assets and liabilities
 
 
 
Total assets
$
—

 
$
—

Accrued and other liabilities
686

 
686

Total liabilities
686

 
686

Net assets
$
(686
)
 
$
(686
)
The following summary provides financial information for discontinued operations related to the net (income) loss attributable to noncontrolling interests:
 
Three Months Ended March 31,
(In thousands)
2017
 
2016
Net (income) loss attributable to noncontrolling interests
 
 
 
       Income from continuing operations
$
(277
)
 
$
(519
)
Loss from discontinued operations
—

 
197

Net income
$
(277
)
 
$
(322
)