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Sale of Manufacturing Facilities
12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Sale of Manufacturing Facilities Sale of Manufacturing Facilities

In December 2018, we committed to sell a hardwood plywood facility located in Moncure, North Carolina, and subsequently entered into a definitive sale agreement in January 2019 (the Moncure Sale). This facility generated net sales and operating loss of approximately $5.5 million and $1.4 million, respectively, during the year ended December 31, 2019, net sales and operating loss of approximately $32.7 million and $7.0 million, respectively, during the year ended December 31, 2018, and net sales and operating loss of approximately $28.2 million and $9.8 million, respectively, during the year ended December 31, 2017. These results are included in the operating results of our Wood Products segment.

On March 1, 2019, we closed on the Moncure Sale and received proceeds of $2.5 million. The disposal group met the criteria to be classified as held for sale in December 2018 and were recorded as assets held for sale in "Prepaid expenses and other" on our Consolidated Balance Sheet as of December 31, 2018. Upon classification as held for sale, we discontinued depreciation of the long-lived assets, and performed an assessment of impairment to identify and expense any excess of carrying value over fair value less costs to sell. As a result, we recorded pre-tax impairment and sale-related losses of $24.0 million during the year ended December 31, 2018, recorded in "Loss on sale and curtailment of facilities" in our Consolidated Statements of Operations.

On September 10, 2018, we entered into an agreement to sell two lumber mills and a particleboard plant located in Northeast Oregon (the Sale). These facilities generated net sales and operating loss of approximately $74.1 million and $0.2 million, respectively, for the year ended December 31, 2018, and net sales and operating income of approximately $82.5 million and $0.9 million, respectively, for the year ended December 31, 2017. These results are included in the operating results of our Wood Products segment.

On November 2, 2018, we closed on the Sale and received proceeds of $15.0 million. As a result, we recorded a pre-tax loss of $11.5 million during the year ended December 31, 2018, recorded in "Loss on sale and curtailment of facilities" in our Consolidated Statements of Operations.