Divestiture-related activities (Tables)

12 Months Ended

Dec. 31, 2012

Net (Gain) Loss on Sales of Businesses and Assets

Net (gain) loss on sales of businesses and assets consists of the following for the years ended December 31:


	2012			2011		2010
	(Dollars in thousands)
Net (gain) loss on sales of businesses and assets	$	(332	)	$	582	$	(341	)

Assets Held for Sale

The table below provides information regarding assets held for sale at December 31, 2012 and 2011. At December 31, 2012, these assets consisted of three buildings which the Company is actively marketing.


	2012		2011
	(Dollars in thousands)
Assets held for sale:
Property, plant and equipment	$	7,963	$	7,902

Total assets held for sale	$	7,963	$	7,902

Operating Results of Operations Treated as Discontinued Operations

The results of the Company’s discontinued operations for the years 2012, 2011 and 2010 were as follows:


	2012			2011		2010
	(Dollars in thousands)
Net revenues	$	16,616		$	277,972	$	465,504
Costs and other expenses		18,328			255,919		411,377
Goodwill impairment⁽¹⁾		9,700			—		—
Gain on disposition⁽²⁾		2,205			270,630		114,702

Income (loss) from discontinued operations before income taxes		(9,207	)		292,683		168,829
Taxes (benefit) on income (loss) from discontinued operations		(1,887	)		87,038		54,046

Income (loss) from discontinued operations		(7,320	)		205,645		114,783
Less: Income from discontinued operations attributable to noncontrolling interest		—			617		500

Income (loss) from discontinued operations attributable to common shareholders	$	(7,320	)	$	205,028	$	114,283

(1)	During 2012, the Company recognized a non-cash goodwill impairment charge of $9.7 million to adjust the carrying value of the orthopedic business to its estimated fair value.

(2)	The $2.2 million pre-tax gain on disposition during 2012 primarily reflects the gain recognized on the working capital adjustment related to the sale of the cargo systems and cargo container businesses.

Net Assets and Liabilities of Discontinued Operations

Net assets and liabilities of discontinued operations sold in 2012 are as follows:


	(Dollars in thousands)
Net assets	$	46,209
Net liabilities		(1,457	)

	$	44,752