Disposition of OCTG Business (Tables)

3 Months Ended

Mar. 31, 2015

Summary of Operating Results for Company's Discontinued Operations

The table below presents the operating results for the Company’s discontinued operations (in thousands). The operating results for the three months ended March 31, 2014 do not necessarily reflect what they would have been had the OCTG business not been classified as a discontinued operation.


	Three Months Ended March 31,
	2015		2014
Net sales	$	—	$	22,225
Cost of sales		—		24,392

Gross loss		—		(2,167	)
Selling, general and administrative expense		—		396

Operating loss		—		(2,563	)
Interest expense		—		(99	)
Loss on sale of business		—		(12,083	)

Loss before income taxes		—		(14,745	)
Income tax benefit		—		(3,852	)

Loss on discontinued operations	$	—	$	(10,893	)

- Definition

Tabular disclosure of disposal groups, which may include 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 classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details