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Discontinued Operations | 12 Months Ended
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Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued operations On February 14, 2014, the Company completed the sale of substantially all of the assets of Automatic Screw Machine Products Company, Inc. ("ASMP"), a wholly-owned subsidiary, to Nelson Stud Welding, Inc. (“Buyer”), an indirect subsidiary of Doncasters Group Limited, for a purchase price of $12.5 million plus the assumption of certain liabilities. In addition, the Buyer agreed to lease the real property located in Decatur, Alabama where ASMP was located. The Company has classified ASMP's operating results as discontinued operations for all periods presented. The following table details the components of income from discontinued operations:
|  | (Dollars in thousands)
|  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Net sales of ASMP |  | $ | 2,462 |  |  | $ | 18,534 |  |  | $ | 16,925 |
Pre-tax operating income from discontinued operations |  |  |  |  |  |
ASMP |  | $ | 346 |  |  | $ | 2,801 |  |  | $ | 2,118 |
Other discontinued operations |  | — |  |  | 40 |  |  | 167 |
Total pre-tax income |  | 346 |  |  | 2,841 |  |  | 2,285 |
Income tax expense |  | 133 |  |  | 980 |  |  | 802 |
Net income from discontinued operations |  | $ | 213 |  |  | $ | 1,861 |  |  | $ | 1,483 |
Sale of discontinued operations |  |  |  |  |  |
Pre-tax gain on sale of ASMP |  | $ | 1,877 |  |  | $ | — |  |  | $ | — |
Income tax expense |  | 398 |  |  | — |  |  | — |
Net gain on sale of ASMP |  | $ | 1,479 |  |  | $ | — |  |  | $ | — |
Income from discontinued operations, net of taxes |  | $ | 1,692 |  |  | $ | 1,861 |  |  | $ | 1,483 |
Basic and diluted income per share |  |  |  |  |  |
ASMP |  | $ | 0.20 |  |  | $ | 0.21 |  |  | $ | 0.15 |
Other discontinued operations |  | — |  |  | 0.01 |  |  | 0.03 |
Total |  | $ | 0.20 |  |  | $ | 0.22 |  |  | $ | 0.18 |

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 + Details
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