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, which were reported in the International segment.

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:



(In thousands)	Year ended December 31, 2016
Discontinued Operations
Net sales	$	5,261
Cost and expenses:
Cost of products sold	4,819
Selling, general and administrative	937
Restructuring and other charges	—
Currency exchange losses, net	18
Other income, net	596
Income from discontinued operations before income taxes	83
Provision for income taxes	328
Loss from discontinued operations, net of tax	$	(245	)

There was no discontinued operations activity for the years ended December 31, 2018 and 2017.

The following summary provides financial information for discontinued operations related to net income related to noncontrolling interests:



	Year ended December 31,
(In thousands)	2018			2017			2016
Net income attributable to noncontrolling interests
Income from continuing operations	$	(965	)	$	(929	)	$	(1,416	)
Income from discontinued operations	—			—			(510		)
Net income	$	(965	)	$	(929	)	$	(1,926	)