Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations And Disposal Groups [Abstract]

17. Discontinued Operations

During 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 December 31, 2017 our accounts receivable included approximately $2.7 million relating to the sale of our Climate Control Business representing an indemnity escrow balance which balance was received in 2018.

Summarized results of discontinued operations are as follows for:

	Year Ended December 31,
		2017		2016
	(In Thousands)
Net sales		$	—	$	138,609
Cost of sales			—		93,178
Selling, general and administrative expense			—		32,719
Transaction costs			—		2,535
Other expense (income), net			—		175
Income from operations of discontinued operations			—		10,002
Gain on sale of discontinued operations			2,595		281,990
Provision for income taxes			1,519		91,691
Income from discontinued operations, net of taxes		$	1,076	$	200,301

Summarized condensed cash flow information of discontinued operations is as follows:

	Year Ended December 31,
		2017		2016
	(In Thousands)
Deferred income taxes		$	2,461	$	88,356
Depreciation and amortization of property, plant and equipment		$	—	$	1,607
Stock-based compensation		$	—	$	955
Expenditures for property, plant and equipment		$	—	$	273
Software and software development costs		$	—	$	675