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Discontinued Operations and Related Assets Held for Sale (Tables)
 3 Months Ended
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