XML 35 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Discontinued Operations and Related Assets Held for Sale (Tables)
 9 Months Ended
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