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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
The following carrying amounts of the major classes of assets and liabilities included in discontinued operations related to the Industrial business have been segregated from the Company's continuing operations and are reported as assets and liabilities of discontinued operations, respectively, in the consolidated balance sheet at December 31, 2020 (in thousands):
December 31, 2020
Assets
Accounts receivable, net$11,261 
Inventories, net13,041 
Prepaid expenses and other current assets21,310 
Total current assets (1)45,612 
Property, plant, and equipment, net16,999 
Operating lease assets6,470 
Goodwill22,475 
Acquired intangibles15,482 
Loss recognized on classification as held for sale(29,600)
Total noncurrent assets (1)31,826 
Total assets classified as held for sale$77,438 
Liabilities
Accounts payable$10,708 
Accrued expenses9,274 
Total current liabilities (1)19,982 
Deferred income taxes24,657 
Non-current operating lease liabilities4,639 
Other non-current liabilities17 
Total noncurrent liabilities (1)29,313 
Total liabilities classified as held for sale$49,295 

(1) The assets and liabilities of the discontinued operations were classified as current on the December 31, 2020 consolidated balance sheet, as it was probable that the sale would occur and proceeds would be collected within one year.
Components of income from discontinued operations before taxes, including the interest allocated to discontinued operations, for the three and nine months ended September 30 are as follows (in thousands):
Three months ended
September 30,		Nine months ended
September 30,
2021202020212020
Net sales$— $32,873 $20,391 $97,541 
Operating expenses— 30,028 17,493 88,080 
Adjustment to loss on disposal201 — 1,031 — 
Interest expense allocation— 31 — 71 
(Loss) Income from discontinued operations before taxes$(201)$2,814 $1,867 $9,390 
On June 30, 2020, the Company sold its self-guided apartment tour application business to a third party from its Residential segment. The $2.0 million net proceeds from the sale resulted in pre-tax net gain of $1.9 million and has been presented within other (income) expense in the consolidated statements of income. This divestiture did not meet the criteria to be reported as discontinued operations nor will it have a major effect on the Company's operations.