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Discontinued Operations
 12 Months Ended
Dec. 31, 2013
Discontinued Operations  
Discontinued Operations

3.  Discontinued Operations

 

CIGS Solar Systems Business

 

On July 28, 2011, we announced a plan to discontinue our CIGS solar systems business. The results of operations for the CIGS solar systems business have been recorded as discontinued operations for all periods presented. During the year ended December 31, 2011, total discontinued operations related to the discontinued CIGS business include pre-tax charges totaling $69.8 million. These charges include an asset impairment charge totaling $6.2 million, a goodwill write-off of $10.8 million, an inventory write-off totaling $27.0 million, charges to settle contracts totaling $22.1 million, lease related charges totaling $1.4 million and personnel severance charges totaling $2.3 million.

 

Metrology

 

On August 15, 2010, we signed a definitive agreement to sell our Metrology business to Bruker. The results of operations for the Metrology business have been recorded as discontinued operations for all periods presented. The sale transaction closed on October 7, 2010, except for assets located in China due to local restrictions. Total proceeds, which included a working capital adjustment of $1 million, totaled $230.4 million of which $7.2 million relates to the assets in China. During 2010, we recognized a pre-tax gain on disposal of $156.3 million and a pre-tax deferred gain of $5.4 million related to the assets in China.  We recognized into income the pre-tax deferred gain of $5.4 million during 2012 related to the completion of the sale of the assets in China to Bruker. We also recognized a $1.4 million gain ($1.1 million net of taxes) on the sale of assets of this discontinued segment that were previously held for sale and sold during 2012.

 

Summary information related to discontinued operations is as follows (in thousands):

 

 

 

2012

 

2011

 

 

 

Solar

 

 

 

 

 

Solar

 

 

 

 

 

 

 

Systems

 

Metrology

 

Total

 

Systems

 

Metrology

 

Total

 

Net sales

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

Net income (loss) from discontinued operations

 

$

(62

)

$

4,461

 

$

4,399

 

$

(61,453

)

$

(1,062

)

$

(62,515

)