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Discontinued Operations
 12 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations

On June 14, 2013, we sold a component of our Tubular Sales segment, which manufactured centralizers for sales to third parties, and recognized a gain on sale of $39.6 million, which is included in income from discontinued operations on the consolidated statements of income. As a result, for the year ended December 31, 2013, the operations from that component have been reported as discontinued operations.

The following table presents the results of discontinued operations (in thousands):
 
Year Ended December 31, 2013
 
 
Revenues
$
7,554

 
 
Income from discontinued operations
$
3,036

Gain on sale of discontinued operations
39,629

Income from discontinued operations
 
before income taxes
42,665

Income tax expense
30

Net income from discontinued operations
$
42,635


The major classes of assets and liabilities as of June 14, 2013, which were included in the disposition were as follows (in thousands):
 
Accounts receivable, net
$
1,968

 
 
Inventory
4,905

 
 
Prepaid and other current assets
53

 
 
Property, plant and equipment
2,260

 
 
Goodwill
1,497

 
 
   Total assets
$
10,683

 
 
 
 
 
 
   Total liabilities
$
312

 


Cash flows from discontinued operations are included with cash flows from continuing operations in the consolidated statements of cash flows for the year ended December 31, 2013.