Discontinued Operations (Tables)

9 Months Ended

Feb. 28, 2015

Discontinued Operations and Disposal Groups [Abstract]

Results of Discontinued Operations and Summary of Assets and Liabilities of Discontinued Operations

The following table summarizes the results of discontinued operations:


	Three-Months Ended February 28,						Nine-Months Ended February 28,
	2015			2014			2015			2014
	(Dollars in thousands)						(Dollars in thousands)

Net Sales	$	52		$	8,603		$	9,767		$	26,989


Operating loss of discontinued operations	$	(86	)	$	(1,806	)	$	(5,944	)	$	(3,669	)
Loss on disposal of discontinued operations		—			—			(231	)		—

Loss before income taxes		(86	)		(1,806	)		(6,175	)		(3,669	)
Income tax benefit		—			—			—			—

Loss from discontinued operations, net of taxes	$	(86	)	$	(1,806	)	$	(6,175	)	$	(3,669	)

The following is a summary of assets and liabilities of discontinued operations at February 28, 2015 and May 31, 2014:


	February 28, 2015		May 31, 2014
	(Dollars in thousands)

Current Assets:
Accounts receivable	$	298	$	4,770
Inventories		194		2,703

	$	492	$	7,473


Property, Plant and Equipment:
Property, plant and equipment, at cost	$	—	$	9,812
Less accumulated depreciation		—		7,901

	$	—	$	1,911


Current Liabilities:
Accounts payable, trade	$	117	$	2,089
Accrued salaries and wages		—		419
Accrued marketing programs		64		330
Other accrued liabilities		157		186

	$	338	$	3,024

- 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.

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