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Discontinued Operations | 6 Months Ended
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Jun. 30, 2014
Discontinued Operations [Abstract] |
Discontinued Operations | NOTE 2. DISCONTINUED OPERATIONS As discussed above, on June 18, 2014, the Company entered into a definitive agreement with Samsonite to sell certain assets, which closed on July 23, 2014, and the assets and liabilities of Gregory are classified as held for sale at June 30, 2014. The sale transaction was completed during our third fiscal quarter end ing September 30, 2014 and we expect to recognize a gain on the sale of the Gregory assets. The carrying amounts of the assets and liabilities of Gregory, which were classified as held for sale in our June 30, 2014 condensed consolidated balance sheet were as follows:
|  | June 30, 2014
Accounts receivable |  | $ | 7,340
Inventories |  |  | 7,324
Prepaid and other current assets |  |  | 167
Property and equipment, net |  |  | 179
Definite lived intangible assets, net |  |  | 4,283
Indefinite lived intangible assets |  |  | 13,050
Goodwill |  |  | 11,955
Assets held for sale |  | $ | 44,298
Accounts payable and accrued liabilities |  | $ | 3,373
Liabilities held for sale |  | $ | 3,373
Summarized results of discontinued operations are as follows:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, 2014 |  | June 30, 2013 |  | June 30, 2014 |  | June 30, 2013
Sales |  | $ | 8,502 |  |  | 9,693 |  |  | 18,609 |  |  | 20,076
Income before income tax |  |  | 622 |  |  | 2,896 |  |  | 2,442 |  |  | 5,257
Income tax expense |  |  | 1,162 |  |  | 983 |  |  | 907 |  |  | 2,525
(Loss) income from discontinued operations, net of tax |  | $ | (540) |  | $ | 1,913 |  | $ | 1,535 |  | $ | 2,732
Interest related to debt that is required to be repaid as a result of a disposition is allocated to discontinued operations. All interest from the revolving credit facility and term note with Zions First National Bank is allocated to discontinued operations. Total interest expense allocated to discontinued operations for the three months ended June 3 0, 2014 and 2013 was $332 and $200, respectively, and for the six months ended June 30, 2014 and 2013 was $601 and $395, respec tively.

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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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