XML 43 R29.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Note 21 - Disposal of a Business | 12 Months Ended
--- | ---
Jun. 30, 2017
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 15. Discontinued OperationS In pursuing our business strategy, we have divested certain businesses and recorded activities of these businesses as discontinued operations. On March 30, 2012, Air Distribution Products Group, (“ADP”) was sold to a private equity buyer for consideration of $16.1 million consisting of $13.1 million in cash and a $3.0 million promissory note from the buyer. The note was secured by a mortgage on the ADP real estate sold in the transaction in Detroit Lakes, MN, Medina, NY, and Powder Springs, GA. During the first quarter 2016, the private equity buyer of ADP sold one of the facilities securing the note. The Company released all mortgages on the properties and accepted an advanced payment of $2.8 million during October 2015 in order to reduce repayment risk and settle all obligations under the note. The Company recorded a $0.2 million loss in discontinued operations during the first quarter 2016 related to this transaction. During 2014, the Company received notice that its obligations under a guarantee provided to the buyers of ADP were triggered as a result of its withdrawal from both of the multi-employer pension plans in which ADP previously participated. The last of these obligations were settled in July of fiscal year 2016 by a $0.5 million payment to the final multi-employer plan. The following table summarizes the Company’s discontinued operations activity, by operation, for the years ended June 30, ( in thousands):
| Year Disposed |  | 2017 |  |  | 2016 |  |  | 2015 |
Income (loss) before taxes: |  |  |  |  |  |  |  |  |  |  |  |  |
American Foodservice Company (1) | 2014 |  | $ | (8 | ) |  | $ | 3 |  |  | $ | (492 | )
Air Distribution Products Group | 2012 |  |  | (38 | ) |  |  | (225 | ) |  |  | (137 | )
Other loss from discontinued operations |  |  | (13 | ) |  |  | (7 | ) |  |  | (130 | )
Income (loss) before taxes from discontinued operations |  |  | (59 | ) |  |  | (229 | ) |  |  | (759 | )
(Provision) benefit for tax |  |  | 27 |  |  |  | 55 |  |  |  | 259 |
Net income (loss) from discontinued operations |  | $ | (32 | ) |  | $ | (174 | ) |  | $ | (500 | )
( 1 ) American Foodservice Company incurred a pretax operational loss of $3.5 million and pretax loss on sale of $4.8 million in 2014 . Assets and liabilities related to discontinued operations to be retained by the Company are recorded in the Consolidated Balance Sheets at June 30 under the following captions (in thousands):
|  | 2017 |  |  | 2016 |
Current assets |  | $ | - |  |  | $ | - |
Non-current assets |  |  | 14 |  |  |  | 14 |
Current liabilities |  |  | 786 |  |  |  | 1,204 |
Non-current liabilities |  |  | - |  |  |  | 55 |
Sale of U.S. Roll Plate and Machinery [Member] |
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 21. DISPOSAL OF A BUSINESS During the first quarter of fiscal year 2017, the Company sold its U.S. Roll Plate and Machinery business, as it was not strategic and did not meet our growth and return expectations. This divestiture also allows the Company’s management to focus on higher growth and better return businesses within the Engraving segment. During the fourth quarter of fiscal year 2016, the Company recorded a $7.3 million non-cash loss to adjust the net assets of the business to their net realizable value. The expense is recorded as a component of Other Operating Income, net. The sale of the business does not constitute a significant strategic shift that will have a major effect on the entity’s operations and financial results.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=sxi_SaleOfUSRollPlateAndMachineryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |