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HELD FOR SALE CLASSIFICATION AND DISCONTINUED OPERATIONS
 12 Months Ended
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 )