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Assets held for sale | 12 Months Ended
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Dec. 31, 2012
Assets held for sale | Note 11—Assets held for sale:
|  | December 31, |
|  | 2011 |  |  | 2012 |
|  | (In thousands) |
Byron Center facility |  | $ | 4,444 |  |  | $ | — |
River Grove facility |  |  | 1,775 |  |  |  | 1,535 |
Neenah land |  |  | 430 |  |  |  | 430 |
Total Assets Held for Sale |  | $ | 6,649 |  |  | $ | 1,965 |
At December 31, 2012 our assets held for sale consisted of the River Grove facility (land, building and building improvements) and the Neenah land, all of which were formerly used in our operations. These assets were classified as “assets held for sale” when they ceased to be used in our operations and met all of the applicable criteria under GAAP. In the third quarter of 2012 we obtained updated independent appraisals of the Byron Center and River Grove facilities. Based on these appraisals, we recognized write-downs in the third quarter of $165,000 on the Byron Center facility and $240,000 on the River Grove facility to reduce the carrying value of the assets to their estimated fair value less cost to sell. We sold the Byron Center facility in December 2012 for net proceeds of $3.6 million, which net proceeds were less than the carrying amount of the assets and we therefore recognized a loss on the sale of the facility of approximately $757,000 during the fourth quarter of 2012. In the fourth quarter of 2012, we entered into an agreement to sell the River Grove facility. The transaction closed during the first quarter of 2013. The net proceeds from the sale approximate the carrying value of the assets as of December 31, 2012. The valuation of the River Grove facility as of December 31, 2012 is based on a sales contract with a third party which represents a Level 2 input as defined by ASC 820-10-35. The write-downs on assets held for sale together with the loss on the sale of the Byron Center facility as of December 31, 2012 totaled $1.2 million for 2012 and are included in corporate operating expense. We also recognized asset held for sale writedowns of $500,000 in 2010 and $1.1 million in 2011 related to these properties, associated with obtaining updated appraisals on the properties. These appraisals represent a Level 2 input as defined by ASC 820-10-35.

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- Definition Assets held for sale [Disclosure Text Block] + References No definition available. + Details
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