Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Summary of operating results and balance sheet data for discontinued operations

The following table summarizes the operating results of discontinued operations (in thousands):



	Years Ended December 31,
	2015									2014									2013
	Exterran Corporation (1)			Contract Water Treatment Business			Total			Exterran Corporation			Contract Water Treatment Business			Total			Exterran Corporation			Contract Water Treatment Business			Total
Revenue	$	1,424,184		$	—		$	1,424,184		$	1,940,585		$	—		$	1,940,585		$	2,297,632		$	3,425		$	2,301,057
Cost of sales (excluding depreciation and amortization expense)	1,017,912			222			1,018,134			1,364,051			479			1,364,530			1,726,420			3,015			1,729,435
Selling, general and administrative	171,912			—			171,912			245,103			30			245,133			239,322			337			239,659
Depreciation and amortization	124,321			—			124,321			173,803			—			173,803			140,029			—			140,029
Long-lived asset impairment	14,264			—			14,264			3,851			319			4,170			11,941			2,355			14,296
Restructuring charges	43,884			—			43,884			2,159			—			2,159			—			—			—
Interest expense	1,578			—			1,578			1,905			—			1,905			3,551			—			3,551
Equity in income of non-consolidated affiliates	(15,152		)	—			(15,152		)	(14,553		)	—			(14,553		)	(19,000		)	—			(19,000		)
Other (income) loss, net (2)	(23,782		)	—			(23,782		)	(65,976		)	(27		)	(66,003		)	(68,115		)	1,002			(67,113		)
Income (loss) from discontinued operations before income taxes	89,247			(222		)	89,025			230,242			(801		)	229,441			263,484			(3,284		)	260,200
Provision for (benefit from) income taxes	28,705			(88		)	28,617			86,723			(277		)	86,446			102,559			(1,149		)	101,410
Income (loss) from discontinued operations, net of tax	$	60,542		$	(134	)	$	60,408		$	143,519		$	(524	)	$	142,995		$	160,925		$	(2,135	)	$	158,790


⁽¹⁾	Includes the results of operations of Exterran Corporation and costs directly attributable to the Spin-off.


⁽²⁾	Includes income from discontinued operations, net of tax, related to previously discontinued Venezuela and Canada operations of $56.8 million, $73.2 million, and $66.1 million for the year ended December 31, 2015, 2014, and 2013, respectively.

The following table summarizes the balance sheet data for discontinued operations (in thousands):



	December 31, 2015						December 31, 2014
	Exterran Corporation		Contract Water Treatment Business		Total		Exterran Corporation		Contract Water Treatment Business		Total
Cash and cash equivalents	$	—	$	—	$	—	$	39,792	$	—	$	39,792
Restricted cash	—		—		—		1,490		—		1,490
Accounts receivable	—		—		—		398,072		69		398,141
Inventory	—		—		—		257,785		—		257,785
Costs and estimated earnings in excess of billings on uncompleted contracts	—		—		—		120,938		—		120,938
Other current assets	420		—		420		54,012		—		54,012
Total current assets associated with discontinued operations	420		—		420		872,089		69		872,158
Property, plant and equipment	—		—		—		954,811		—		954,811
Intangibles and other assets, net	5,714		—		5,714		238,767		—		238,767
Deferred income taxes	—		15,486		15,486		—		17,469		17,469
Total assets associated with discontinued operations	$	6,134	$	15,486	$	21,620	$	2,065,667	$	17,538	$	2,083,205
Accounts payable	$	—	$	—	$	—	$	162,040	$	1	$	162,041
Accrued liabilities	—		—		—		169,066		727		169,793
Deferred income taxes	420		—		420		—		—		—
Deferred revenue	—		—		—		64,820		—		64,820
Billings on uncompleted contracts in excess of costs and estimated earnings	—		—		—		76,277		—		76,277
Total current liabilities associated with discontinued operations	420		—		420		472,203		728		472,931
Long-term debt	—		—		—		1,107		—		1,107
Deferred income taxes	5,714		—		5,714		39,100		—		39,100
Other long-term liabilities	—		—		—		68,876		—		68,876
Total liabilities associated with discontinued operations	$	6,134	$	—	$	6,134	$	581,286	$	728	$	582,014

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details