XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Discontinued Operations and Related Assets Held for Sale (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Related Assets Held for Sale | The following tables summarize the results of the Engineered Solutions business segment, reclassified as discontinued operations for the three and nine months ended September 30, 2015 and 2016.
| For the Period July 1 2015 Through August 14, 2015 |  | For the Period August 15, 2015 Through September 30, 2015 |  | For the Three Months Ended September 30, 2016
| (dollars in thousands)
Net sales | $ | 13,994 |  |  | $ | 19,816 |  |  | $ | 30,165 |
Cost of sales | 16,779 |  |  | 17,712 |  |  | 23,497 |
Gross profit (loss) | (2,785 | ) |  | 2,104 |  |  | 6,668 |
Research and development | 501 |  |  | 440 |  |  | 707 |
Selling and administrative expenses | 4,557 |  |  | 2,797 |  |  | 4,113 |
Rationalizations | 743 |  |  | 681 |  |  | (130 | )
Operating (loss) income | (8,586 | ) |  | (1,814 | ) |  | 1,978 |
Other expense (income) | (26 | ) |  | (24 | ) |  | (3 | )
Interest expense | 212 |  |  | 351 |  |  | 783 |
(Loss) income from discontinued operations before income taxes | (8,772 | ) |  | (2,141 | ) |  | 1,198 |
Provision for (benefit from) income taxes on discontinued operations | 1,879 |  |  | 274 |  |  | (64 | )
(Loss) income from discontinued operations | $ | (6,893 | ) |  | $ | (1,867 | ) |  | $ | 1,134 |
| For the Period January 1 Through August 14, 2015 |  | For the Period August 15, 2015 Through September 30, 2015 |  | For the Nine Months Ended September 30, 2016
| (dollars in thousands)
Net sales | $ | 98,024 |  |  | $ | 19,816 |  |  | $ | 89,184 |
Cost of sales | 94,817 |  |  | 17,712 |  |  | 74,051 |
Gross profit | 3,207 |  |  | 2,104 |  |  | 15,133 |
Research and development | 2,179 |  |  | 440 |  |  | 2,398 |
Selling and administrative expenses | 16,008 |  |  | 2,797 |  |  | 13,674 |
Rationalizations | 5,248 |  |  | 681 |  |  | (200 | )
Impairment | — |  |  | — |  |  | 105,623 |
Operating loss | (20,228 | ) |  | (1,814 | ) |  | (106,362 | )
Other expense (income) | (90 | ) |  | (24 | ) |  | (75 | )
Interest expense | 907 |  |  | 351 |  |  | 2,452 |
Loss from discontinued operations before income taxes | (21,045 | ) |  | (2,141 | ) |  | (108,739 | )
Provision for income taxes on discontinued operations | 2,366 |  |  | 274 |  |  | 1,171 |
Loss from discontinued operations | $ | (18,679 | ) |  | $ | (1,867 | ) |  | $ | (107,568 | )
The significant components of our Statements of Cash Flows for the Engineered Solutions business segment held for sale are as follows:
| For the Period January 1 Through August 14, 2015 |  | For the Period August 15 Through September 30, 2015 |  | For the Nine Months Ended September 30, 2016
| (dollars in thousands) |  |
Depreciation and amortization | $ | 7,988 |  |  | $ | 1,931 |  |  | $ | 3,849 |
Impairment | — |  |  | — |  |  | 105,623 |
Deferred income taxes | (2,366 | ) |  | (273 | ) |  | (1,172 | )
Capital expenditures | 10,104 |  |  | 1,229 |  |  | 3,621 |
The following table summarizes the carrying value of the assets and liabilities of discontinued operations as of December 31, 2015 and September 30, 2016.
| As of December 31, 2015 |  | As of September 30, 2016
| (dollars in thousands)
Assets of discontinued operations: |  |  |
Accounts receivable | $ | 20,425 |  |  | $ | 20,842 |
Inventories | 77,332 |  |  | 77,719 |
Prepaid expenses and other current assets | 524 |  |  | 643 |
Net property plant and equipment | 86,369 |  |  | 87,099 |
Other assets | 17,606 |  |  | 14,183 |
Total assets of discontinued operations prior to impairment | 202,256 |  |  | 200,486 |
Impairment upon reclassification to held for sale | — |  |  | (105,600 | )
Total assets of discontinued operations | $ | 202,256 |  |  | $ | 94,886 |
Liabilities of discontinued operations: |  |  |
Accounts payable | $ | 9,331 |  |  | $ | 5,830 |
Accrued income and other taxes | 3,113 |  |  | 2,163 |
Other accrued liabilities | 10,638 |  |  | 8,960 |
Total current liabilities of discontinued operations | 23,082 |  |  | 16,953 |
Other long-term obligations | 1,167 |  |  | 867 |
Total liabilities of discontinued operations | $ | 24,249 |  |  | $ | 17,820 |

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 Tabular disclosure of information 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 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: 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=51717284&loc=d3e1474-107760 Reference 4: 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=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: 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=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration