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Discontinued Operations and Related Assets Held for Sale (Tables) | 12 Months Ended
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Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following tables summarize the results of the Engineered Solutions business segment, reclassified as discontinued operations:
|  | For the Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Net sales |  | $ | 2,574 |  |  | $ | 82,299 |  |  | $ | 115,336 |
Cost of sales |  | 3,310 |  |  | 74,723 |  |  | 98,440 |
Gross (loss) profit |  | (736 | ) |  | 7,576 |  |  | 16,896 |
Research and development |  | — |  |  | 1,429 |  |  | 3,145 |
Selling and administrative expenses |  | (628 | ) |  | 12,239 |  |  | 19,022 |
(Gain) loss on sale of assets |  | (508 | ) |  | (6,091 | ) |  | 198 |
Rationalizations |  | — |  |  | (35 | ) |  | (405 | )
Impairment |  | — |  |  | 5,300 |  |  | 119,907 |
|  | 400 |  |  | (5,266 | ) |  | (124,971 | )
Other expense (income) |  | 30 |  |  | (115 | ) |  | (66 | )
Interest expense |  | — |  |  | 1,133 |  |  | 3,258 |
Income (loss) from discontinued operations before income taxes |  | 370 |  |  | (6,284 | ) |  | (128,163 | )
Benefit for income taxes on discontinued operations |  | (39 | ) |  | (55 | ) |  | (1,189 | )
Income (loss) from discontinued operations |  | $ | 331 |  |  | $ | (6,229 | ) |  | $ | (126,974 | )
Basic and diluted income (loss) from discontinued operations per share |  | $ | — |  |  | $ | (0.02 | ) |  | $ | (0.42 | )
The significant components of our Statements of Cash Flows for discontinued operations are as follows:
| For the Year Ended December 31
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Depreciation and amortization | $ | — |  |  | $ | 2,418 |  |  | $ | 5,277 |
Impairment | — |  |  | 5,300 |  |  | 119,907 |
(Gain) loss on sale of assets | (508 | ) |  | (6,091 | ) |  | 198 |
Net change in inventory | 502 |  |  | 15,217 |  |  | (917 | )
Cash received from divestitures | — |  |  | 27,254 |  |  | 15,889 |
Credit facility reductions | — |  |  | (27,254 | ) |  | (15,889 | )
Deferred income taxes | 40 |  |  | (55 | ) |  | (1,189 | )
Capital expenditures | — |  |  | 558 |  |  | 4,713 |
The following table summarizes the carrying value of the assets and liabilities of discontinued operations as of December 31, 2018 and 2017.
| As of December 31, 2018 |  | As of December 31, 2017
| (Dollars in thousands)
Assets of discontinued operations: |  |  |
Accounts receivable | $ | — |  |  | $ | 3,351 |
Inventories | — |  |  | 502 |
Prepaid expenses and other current assets | — |  |  | 1,137 |
Net property, plant and equipment | — |  |  | 226 |
Other assets | — |  |  | 97 |
Total assets of discontinued operations | $ | — |  |  | $ | 5,313 |
Liabilities of discontinued operations: |  |  |
Accounts payable | $ | — |  |  | $ | 512 |
Accrued income and other taxes | — |  |  | 158 |
Other accrued liabilities | — |  |  | 2,742 |
Total current liabilities of discontinued operations | — |  |  | 3,412 |
Other long-term obligations | — |  |  | 376 |
Total liabilities of discontinued operations | $ | — |  |  | $ | 3,788 |

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