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HELD FOR SALE CLASSIFICATION AND DISCONTINUED OPERATIONS | 12 Months Ended
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Dec. 31, 2013
HELD FOR SALE CLASSIFICATION AND DISCONTINUED [Abstract] |
HELD FOR SALE CLASSIFICATION AND DISCONTINUED | NOTE 4 - HELD FOR SALE CLASSIFICATION AND DISCONTINUED OPERATIONS On February 18, 2014 TAT entered into an agreement to sell its entire interest in Bental, the OEM of Electric Motion Systems operating segment, constituting 70% of Bental's issued and outstanding share capital, to Bental Investments Agshah Ltd. ("Bental Investments"), for an aggregate consideration of $5 million, reflecting an impairment of $3,319 (out of which $2,323 attributed to controlling interest), which is reported in Income (loss) from discontinued operations in the consolidated statement of operations for the year ended December 31, 2013. In addition the Company recorded a loss from discontinued operations of $152 for the year ended on December 31, 2013 (out of which $106 attributed to controlling interest). The impairment amount is based on the selling price, which is categorized as level 3 measurement. Closing of the transaction is expected to take place within the next several weeks. The following table summarizes the components of assets and liabilities held-for-sale in the consolidated balance sheet as of December 31, 2013:
|  | December 31, |
|  | 2013 |
Assets: |  |  |
Cash and cash equivalents |  | $ | 2,823 |
Trade accounts receivable |  |  | 4,067 |
Other accounts receivable and prepaid expenses |  |  | 196 |
Inventories, net |  |  | 2,983 |
Funds in respect of employee right upon retirement |  |  | 778 |
Deferred income taxes |  |  | 29 |
Property, plant and equipment, net |  |  | 2,402 |
Assets of businesses held for sale |  |  | 13,278 |
Less: impairment |  |  | (3,319 | )
Total assets held for sale |  | $ | 9,959 |
Liabilities: |  |  |  |
Trade accounts payables |  | $ | 946 |
Other accounts payable and accrued expenses |  |  | 1,109 |
Long-term loans, net of current maturities |  |  | 248 |
Liability in respect of employee rights upon retirement |  |  | 1,070 |
Deferred income taxes |  |  | 55 |
Total liabilities held for sale |  | $ | 3,428 |
The following are amounts related to Bental included in net loss from discontinued operations:
|  | Year ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Revenues |  | $ | 9,589 |  |  | $ | 10,008 |  |  | $ | 11,658 |
Loss before taxes on income (tax benefit) |  | $ | (148 | ) |  | $ | (191 | ) |  | $ | (158 | )
Loss from discontinued operations, net of tax ($5, $3 and $19 in 2013, 2012 and 2011, respectively) |  | $ | (3,471 | ) |  | $ | (1,205 | ) |  | $ | (601 | )
Loss from discontinued operations attributable to non-controlling interest |  |  | 1,042 |  |  |  | 58 |  |  |  | 53 |
Loss from discontinued operations attributable to TAT Technologies Ltd. shareholders |  | $ | (2,429 | ) |  | $ | (1,147 | ) |  | $ | (548 | )

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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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