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Discontinued Operations and Related Assets Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2018
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, 2018 and 2017.
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in thousands)
Net sales | $ | 154 |  |  | $ | 14,528 |  |  | $ | 2,622 |  |  | $ | 78,721 |
Cost of sales | 1,810 |  |  | 14,574 |  |  | 3,145 |  |  | 71,596 |
Gross (loss) profit | (1,656 | ) |  | (46 | ) |  | (523 | ) |  | 7,125 |
Research and development | — |  |  | 106 |  |  | — |  |  | 1,387 |
Selling and administrative expenses | 64 |  |  | 3,561 |  |  | (665 | ) |  | 11,360 |
Gain on sale of assets | (1,048 | ) |  | (3,676 | ) |  | (563 | ) |  | (3,676 | )
Impairments | — |  |  | — |  |  | — |  |  | 5,300 |
Operating (loss) income | (672 | ) |  | (37 | ) |  | 705 |  |  | (7,246 | )
Other (income) expense | (42 | ) |  | (56 | ) |  | 24 |  |  | (71 | )
Interest expense | — |  |  | — |  |  | — |  |  | 1,131 |
(Loss) income from discontinued operations before income taxes | (630 | ) |  | 19 |  |  | 681 |  |  | (8,306 | )
Provision for (benefit from) income taxes on discontinued operations | 96 |  |  | (3,215 | ) |  | 96 |  |  | (3,424 | )
(Loss) income from discontinued operations | $ | (726 | ) |  | $ | 3,234 |  |  | $ | 585 |  |  | $ | (4,882 | )
The significant components of our Statements of Cash Flows for the Engineered Solutions business segment held for sale are as follows:
| For the Nine Months Ended September 30,
| 2018 |  | 2017
| (dollars in thousands)
Depreciation and amortization | $ | — |  |  | $ | 2,418 |
Impairment | — |  |  | 5,300 |
Gain on sale of assets | (563 | ) |  | (3,676 | )
Change in inventory | 263 |  |  | 13,804 |
Deferred income taxes | 96 |  |  | (3,068 | )
Capital expenditures | — |  |  | 528 |
The following table summarizes the carrying value of the assets and liabilities of discontinued operations as of September 30, 2018 and December 31, 2017.
| As of September 30, 2018 |  | As of December 31, 2017
| (dollars in thousands)
Assets of discontinued operations: |  |  |
Accounts receivable | $ | 652 |  |  | $ | 3,351 |
Inventories | 239 |  |  | 502 |
Prepaid expenses and other current assets | 6 |  |  | 1,137 |
Net property plant and equipment | 84 |  |  | 226 |
Other assets | 97 |  |  | 97 |
Total assets of discontinued operations | 1,078 |  |  | 5,313 |
Liabilities of discontinued operations: |  |  |
Accounts payable | $ | 656 |  |  | $ | 512 |
Accrued income and other taxes | 182 |  |  | 158 |
Other accrued liabilities | 2,849 |  |  | 2,742 |
Total current liabilities of discontinued operations | 3,687 |  |  | 3,412 |
Other long-term obligations | 636 |  |  | 376 |
Total liabilities of discontinued operations | $ | 4,323 |  |  | $ | 3,788 |

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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=65878427&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=64827811&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=64827811&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=64827811&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=64827811&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=84176398&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=64827811&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=64827811&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=84176398&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=64827811&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=64827811&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=64827811&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=64827811&loc=SL51721677-107760 + Details
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