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Discontinued Operations
 9 Months Ended
Sep. 30, 2016
Discontinued Operations [Abstract]  
Discontinued Operations

(3) Discontinued Operations



Wiring Business



On August 1, 2014, the Company completed the sale of substantially all of the assets and liabilities of its Wiring business to Motherson Sumi Systems Ltd., an India-based manufacturer of diversified products for the global automotive industry,  and MSSL (GB) LIMITED (collectively, “Motherson”), for $71,386 in cash that consisted of the stated purchase price and estimated working capital on the closing date.  The final purchase price was subject to post-closing working capital and other adjustments.  Upon the final resolution of the working capital and other adjustments in the second quarter of 2015, the Company returned $1,230 in cash to Motherson.



The Company also entered into short-term transition services agreements with Motherson substantially all of which concluded in the second quarter of 2015 associated with information systems, accounting, administrative, occupancy and support services as well as contract manufacturing and production support in Estonia.



The Company had post-disposition sales to the Wiring business acquired by Motherson for the three and nine months ended September 30, 2016 of $4,627 and $15,378, respectively, and $7,299 and $21,574 for the three and nine months ended September 30, 2015, respectively.  The Company had post-disposition purchases from the Wiring business acquired by Motherson of $121 and $315 for the three and nine months ended September 30, 2016, respectively, and $242 and $583 for the three and nine months ended September 30, 2015, respectively.



There was no activity related to discontinued operations for the Wiring business in the condensed consolidated statements of operations for the three and nine months ended September 30, 2016.



The following table displays summarized activity in the condensed consolidated statements of operations for discontinued operations related to the Wiring business:



 

 

 

 

 

 





 

 

 

 

 

 



 

 

 

Three months ended

 

Nine months ended



 

 

 

September 30,

 

September 30,



 

 

 

 2015 

 

 2015 



 

 

 

 

 

 

Loss on disposal (A)

 

 

$

 (118)

$

 (230)

Income tax expense on loss on disposal

 

 

 

 5 

 

 4 

Loss from discontinued operations

 

 

$

 (113)

$

 (226)



 

 

 

 

 

 





 

 



 

 



 

 

 

 

 

 

 



 

 



(A)

 

 

The loss on disposal for the three and nine months ended September 30, 2015 included transaction costs of $94 and $192, respectively.  The loss on disposal also included a working capital and other adjustments of $24 and $38 for the three and nine months ended September 30, 2015, respectively.