XML 46 R31.htm IDEA: XBRL DOCUMENT
v3.25.1

DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Disposal Groups | The following table summarizes the financial results of discontinued operations reflected in the Condensed Consolidated Statements of Income (Loss) for the three months ended March 31, 2025 and 2024:
| Three Months Ended March 31, |  |
(In thousands) | 2025 |  | 2024 |  |  |  |
Revenue and other items |  |  |  |  |  |  |
Sales | $ | — |  |  | $ | 31,764 |  |  |  |  |
Other income (expense), net | — |  |  | 2 |  |  |  |  |
| — |  |  | 31,766 |  |  |  |  |
Costs and expenses |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 26,936 |  |  |  |  |
Freight | — |  |  | 1,652 |  |  |  |  |
Selling, general and administrative | 227 |  |  | 1,724 |  |  |  |  |
Research and development | — |  |  | 201 |  |  |  |  |
Amortization of intangibles | — |  |  | 25 |  |  |  |  |
Interest expense 1 | — |  |  | 2,271 |  |  |  |  |
(Gain) loss on sale of business | (9,657) |  |  | — |  |  |  |  |
Total | (9,430) |  |  | 32,809 |  |  |  |  |
Income (loss) from discontinued operations before income tax | 9,430 |  |  | (1,043) |  |  |  |  |
Income tax expense (benefit)2 | — |  |  | (1,727) |  |  |  |  |
Income (loss) from discontinued operations, net of tax | $ | 9,430 |  |  | $ | 684 |  |  |  |  |
1.For the three months ended March 31, 2024, interest expense includes $0.6 million directly related to the $20 million of outstanding Terphane debt assumed by Oben. 2.An inconsequential income tax expense (benefit) was recognized during the three months ended March 31, 2025 primarily due to foreign tax credits generated from the final Brazilian withholding tax payment made during the period, which offset the tax liability on the income from discontinued operations.
The assets and liabilities of the discontinued operations reflected in the Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024, respectively were as follows:
(In thousands) | March 31, 2025 |  | December 31, 2024
Assets |  |  |
Deferred income taxes | $ | — |  |  | $ | 126 |
Total noncurrent assets of discontinued operations | $ | — |  |  | $ | 126 |
Liabilities 1 |  |  |
Accounts payable | $ | — |  |  | $ | 161 |
Accrued expenses | — |  |  | 580 |
Total current liabilities of discontinued operations | $ | — |  |  | $ | 741 |
1.The consolidated balance sheet of discontinued operations as of December 31, 2024 includes $0.6 million of severance and $0.2 million of miscellaneous accrued expenses.
The following table provides significant operating, investing and financing cash flow information for discontinued operations:
| Three Months Ended March 31,
(In thousands) | 2025 |  | 2024
Operating activities: |  |  |
Depreciation and amortization | $ | — |  |  | $ | 751 |
Gain (loss) on the sale of divested business | (9,657) |  |  | — |
Total | $ | (9,657) |  |  | $ | 751 |
Investing activities: |  |  |
Proceeds from the sale of Terphane | $ | 9,835 |  |  | $ | — |
Capital expenditures | — |  |  | 517 |
Total | $ | 9,835 |  |  | $ | 517 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483475/205-20-45-11 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5D -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 205 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-1 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration