Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2015

Statements of Operations for Discontinued Operations

The following tables display summarized activity in our condensed consolidated statements of operations for discontinued operations related to the Wiring business:


		Three months ended				Nine months ended
		September 30,				September 30,
		2015		2014		2015		2014
Net sales	$	-	$	21,142	$	-	$	167,434
Cost of goods sold (B)		-		21,669		-		154,787
Selling, general and administrative (B)		-		2,048		-		12,645
Interest expense, net		-		43		-		69
Other expense, net		-		(147)		-		(58)
Loss from operations of discontinued
operations before income taxes (A) (B)		-		(2,471)		-		(9)
Income tax benefit on discontinued operations		-		911		-		95
Income (loss) from discontinued operations, net of tax (C)		-		(1,560)		-		86

Loss on disposal (C)		(118)		(4,263)		(230)		(6,160)
Income tax (provision) benefit on gain (loss) on disposal		5		(2,285)		4		(1,621)
Loss on disposal, net of tax		(113)		(6,548)		(226)		(7,781)

Loss from discontinued operations	$	(113)	$	(8,108)	$	(226)	$	(7,695)

(A)

The operations of the Wiring business were included only for the one and seven months ended July 31, 2014

as the sale was completed on August 1, 2014.

(B)

The assets and liabilities of the Wiring business were reclassified to held for sale effective May 26, 2014. Accordingly, depreciation and amortization for the Wiring assets were not recorded after that date.

(C)

Included in loss on disposal for the three months ended September 30, 2015 and 2014 were transaction costs of $94 and $377, respectively, and $192 and $1,274 for the nine months ended September 30, 2015 and 2014, respectively. The loss on disposal also includes a working capital and other adjustments of $24 and $38 for the three and nine months ended September 30, 2015, respectively. In addition, the loss on disposal included $2,734 in previously deferred foreign currency translation for the three and nine months ended September 30, 2014.

Schedule of Depreciation, Amortization, and Capital Expenditures of Discontinued Operations



		Three months		Nine months
		ended September 30,		ended September 30,
		2014		2014
Depreciation and amortization	$	-	$	2,111
Capital expenditures		397		1,238

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details