XML 19 R8.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Discontinued Operations | 6 Months Ended
--- | ---
Jun. 30, 2017
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations | Note 2: Discontinued Operations On July 1, 2016, LSB completed the sale of all the stock of Climate Control Group Inc. (an indirect subsidiary that conducted LSB’s Climate Control Business) pursuant to the terms of the stock purchase agreement. Additionally, pursuant to the stock purchase agreement, we agreed to have a certain portion of the purchase price proceeds deposited in an indemnity escrow account. In conjunction with the Climate Control Business sale, we entered into a transition services agreement (“TSA”), pursuant to which, among other things, we agreed to provide certain information technology, payroll, legal, tax and other general services, which services have been completed. At June 30, 2017 and December 31, 2016, our accounts receivable includes approximately $2.7 million representing an indemnity escrow balance. Additionally, at June 30, 2017 and December 31, 2016, our current and noncurrent accrued and other liabilities include approximately $3.7 million and $5.5 million, respectively, relating primarily to estimated contingent liabilities, costs associated with the TSA and severance agreements associated with the sale of the Climate Control Business. Summarized results of discontinued operations are as follows for:
|  | June 30, |  |  | June 30, |
|  | Three Months Ended |  |  | Six Months Ended |
|  | 2016 |  |  | 2016 |
|  | (In Thousands) |
Net sales |  | $ | 71,982 |  |  | $ | 138,609 |
Cost of sales |  |  | 47,724 |  |  |  | 93,178 |
Selling, general and administrative expense |  |  | 17,301 |  |  |  | 32,719 |
Transaction costs |  |  | 1,985 |  |  |  | 2,535 |
Other expense (income), net |  |  | (25 | ) |  |  | 117 |
Income from operations of discontinued operations |  |  | 4,997 |  |  |  | 10,060 |
Benefit for income taxes (1) |  |  | (17,782 | ) |  |  | (13,543 | )
Income from discontinued operations, including taxes |  | $ | 22,779 |  |  | $ | 23,603 |
(1) | The structure of the Climate Control Business sale will allow for additional tax basis to be recovered than was previously recorded as a deferred tax asset. The tax benefit associated with this additional tax basis was recorded in discontinued operations in the second quarter of 2016 consistent with the period the Climate Control Business subsidiaries were designated as held for sale.
Summarized condensed cash flow information of discontinued operations is as follows for the six months ended June 30, 2016 (in thousands):
Deferred income taxes |  | $ | (12,809 | )
Depreciation and amortization of property, plant and equipment |  | $ | 1,607 |
Stock-based compensation |  | $ | 573 |
Expenditures for property, plant and equipment |  | $ | 273 |
Software and software development costs |  | $ | 675 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
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