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Discontinued Operations (Notes) | 12 Months Ended
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Jan. 31, 2014
Discontinued operations [Abstract] |
Discontinued operations | On April 30, 2013, the Company sold most of the domestic assets of its subsidiary Thermal Care, Inc. to a subsidiary of IPEG, Inc. for $16.3 million cash, of which $1.1 million is held in escrow until May 1, 2014 and included in other assets on the consolidated balance sheet. On June 26, 2013, the Company sold substantially all of the assets of the HVAC business previously included in Corporate and Other. In October 2013, the Company decided to sell its remaining industrial process business in Denmark. This business was sold on February 28, 2014. From October 2013 until it was sold, the business was operational and selling product. These businesses are reported as discontinued operations in the consolidated financial statements and the notes to consolidated financial statements have been revised to conform to the current year reporting. The January 31, 2013 Balance Sheet has been revised to reflect the separate amounts for assets and liabilities that were sold. Income from discontinued operations net of tax was $8.2 million and $2.3 million for the years ended January 31, 2014 and 2013, respectively. Results of the discontinued operations were as follows:
| 2013 |  | 2012 |
Net sales |  | $14,063 |  |  | $43,210 |
Gain on disposal of discontinued operations |  | $11,082 |  |  | $— |
(Loss) income from discontinued operations | (28 | ) | 1,237 |
Income from discontinued operations before income taxes | 11,054 |  | 1,237 |
Income tax expense (benefit) | 2,820 |  | (1,035 | )
Income from discontinued operations, net of tax |  | $8,234 |  |  | $2,272 |
Components of assets and liabilities from discontinued operations consist of the following:
| 2013 |  | 2012 |
Current assets |  |
Cash and cash equivalents |  | $1 |  |  | $1 |
Trade accounts receivable, net | 595 |  | 4,564 |
Inventories, net | 593 |  | 4,804 |
Other assets | 34 |  | 849 |
Total current assets from discontinued operations | 1,223 |  | 10,218 |
Property, plant and equipment, net of accumulated depreciation | 551 |  | 819 |
Non-Current assets |  |
Other assets | 363 |  | 434 |
Total noncurrent assets from discontinued operations | 914 |  | 1,253 |
Total assets from discontinued operations |  | $2,688 |  |  | $12,290 |
Current liabilities |  |
Trade accounts payable, accrued expenses and other |  | $492 |  |  | $7,496 |
Current maturities of long-term debt | 35 |  | 35 |
Total current liabilities from discontinued operations | 527 |  | 7,531 |
Long-term liabilities | 968 |  | 1,485 |
Total liabilities from discontinued operations |  | $1,495 |  |  | $9,016 |

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, 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 segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 + Details
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