XML 67 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Noncurrent
12 Months Ended
Dec. 31, 2013
Other Noncurrent

Note 7Other noncurrent:

 

 

  

December 31,

 

 

  

2012

 

  

2013

 

 

  

(In thousands)

 

Assets held for sale

  

$

1,965

  

  

 

532

  

Other

  

 

154

  

  

 

41

  

Total other noncurrent assets

  

$

2,119

  

  

$

573

  

Prior to 2012, our assets held for sale consisted of two facilities (land, building, and building improvements) and certain unimproved 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.  During 2012 we obtained updated independent appraisals of the significant assets.  Based on these appraisals, we recognized a write-down in the third quarter of $405,000 to reduce the carrying value of the assets to their estimated fair value less cost to sell.  Subsequently we sold one of the facilities 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 in 2012.  At December 31, 2012 our assets held for sale consisted of the remaining facility and the unimproved land.  In 2013 we sold the remaining facility for net proceeds of $1.6 million, which approximated the carrying value of the assets as of the date of the sale.  At December 31, 2013 our assets held for sale consisted only of the unimproved land.

We also recognized an asset held for sale write-down of $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.

The write-downs on assets held for sale in 2011 and 2012 and loss on the sale of the facility are included in corporate operating expense. See Note 3.