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Discontinued Operations and Related Assets Held for Sale (Tables) | 3 Months Ended
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Mar. 31, 2017
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 months ended March 31, 2016 and 2017.
| For the Three Months Ended March 31, 2016 |  | For the Three Months Ended March 31, 2017
Net sales | $ | 29,089 |  |  | $ | 31,765 |
Cost of sales | 25,985 |  |  | 28,412 |
Gross profit | 3,104 |  |  | 3,353 |
Research and development | 878 |  |  | 570 |
Selling and administrative expenses | 4,455 |  |  | 3,693 |
Impairment | — |  |  | 2,500 |
Operating loss | (2,229 | ) |  | (3,410 | )
Other expense | 9 |  |  | 32 |
Interest expense | 719 |  |  | 607 |
Loss from discontinued operations before income taxes | (2,957 | ) |  | (4,049 | )
Provision for (benefit from) income taxes on discontinued operations | 392 |  |  | (17 | )
Loss from discontinued operations | $ | (2,565 | ) |  | $ | (4,066 | )
The significant components of our Statements of Cash Flows for the Engineered Solutions business segment held for sale are as follows:
| For the Three Months Ended March 31, 2016 |  | For the Three Months Ended March 31, 2017
Depreciation and amortization | $ | 1,947 |  |  | $ | 1,768 |
Impairment | — |  |  | 2,500 |
Deferred income taxes | (393 | ) |  | 17 |
Capital expenditures | 715 |  |  | 228 |
The following table summarizes the carrying value of the assets and liabilities of discontinued operations as of December 31, 2016 and March 31, 2017.
| As of December 31, 2016 |  | As of March 31, 2017
| (dollars in thousands)
Assets of discontinued operations: |  |  |
Accounts receivable | $ | 17,094 |  |  | $ | 18,899 |
Inventories | 71,816 |  |  | 66,209 |
Prepaid expenses and other current assets | 320 |  |  | 548 |
Net property plant and equipment | 79,048 |  |  | 78,699 |
Other assets | 12,608 |  |  | 11,864 |
Total assets of discontinued operations prior to impairment | 180,886 |  |  | 176,219 |
Impairment | (119,907 | ) |  | (122,407 | )
Total assets of discontinued operations | $ | 60,979 |  |  | $ | 53,812 |
Liabilities of discontinued operations: |  |  |
Accounts payable | $ | 7,253 |  |  | $ | 7,316 |
Accrued income and other taxes | 2,326 |  |  | 1,834 |
Other accrued liabilities | 10,463 |  |  | 8,166 |
Total current liabilities of discontinued operations | 20,042 |  |  | 17,316 |
Other long-term obligations | 850 |  |  | 1,040 |
Total liabilities of discontinued operations | $ | 20,892 |  |  | $ | 18,356 |

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- 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
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