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Discontinued Operations | 12 Months Ended
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Dec. 31, 2016
Discontinued Operations [Abstract] |
Discontinued Operations | NOTE 2. DISCONTINUED OPERATIONS ﻿ As discussed above in Note 1, during the year ended December 31, 2014, the Company and Gregory, its then wholly-owned subsidiary, completed the GMP Sale pursuant to the terms of the GMP Purchase Agreement. The Company received $84,135 in cash for the GMP Sale and paid $2,995 in transaction fees for net proceeds of $81,140. The Company recognized a pre-tax gain on such sale of $39,491 and tax expense of $19,424. The Company performed certain transition services related to the GMP Sale and received $0, $232, and $568, which were recorded as a reduction of selling, general and administrative expenses in our consolidated financial statements during the years ended December 31, 2016, 2015, and 2014, respectively. ﻿ Additionally, as discussed above in Note 1, on October 7, 2015, the Company sold POC. The Company received $63,639 in cash for the POC Disposition and paid $2,946 in transaction fees for net proceeds of $60,693. $739 of cash was sold as part of the transaction. Also, as of December 31, 2015, there was an unsettled working capital adjustment of $921 owed to Dainese which was paid during the three months ended March 31, 2016. The Company recognized a pre-tax gain on such sale of $8,436. The Company performed certain transition services related to the POC Disposition and received $324, $270, and $0 during the years ended December 31, 2016, 2015, and 2014, respectively, which was recorded as a reduction of selling, general and administrative expenses in our consolidated financial statements for such periods. ﻿ Summarized results of discontinued operations for both GMP and POC are as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿ |  | 2016 |  | 2015 |  | 2014
﻿ |  |  |  |  |  |  |  |  |
﻿Sales |  | $ | - |  | $ | 26,179 |  | $ | 55,521
﻿Cost of goods sold |  |  | - |  |  | (13,124) |  |  | (29,247)
﻿Selling, general and administrative |  |  | - |  |  | (11,081) |  |  | (21,293)
﻿Interest expense, net |  |  | - |  |  | (66) |  |  | (757)
﻿Other, net |  |  | - |  |  | 281 |  |  | 608
﻿ |  |  |  |  |  |  |  |  |
﻿Income (loss) from operations of discontinued operations |  |  | - |  |  | 2,189 |  |  | 4,832
﻿Gain on sale of discontinued operations |  |  | - |  |  | 8,436 |  |  | 39,491
﻿ |  |  |  |  |  |  |  |  |
﻿Income (loss) before taxes |  |  | - |  |  | 10,625 |  |  | 44,323
﻿Income tax expense (benefit) |  |  | - |  |  | 61 |  |  | 20,698
﻿Income (loss) from discontinued operations, net of tax |  | $ | - |  | $ | 10,564 |  | $ | 23,625
﻿ |  |  |  |  |  |  |  |  |
In connection with the GMP Sale on July 23, 2014, all interest related to outstanding debt that was required to be repaid pursuant to the terms of the Company’s amended and restated loan agreement with Zions First National Bank (the “Lender”) is allocated to discontinued operations in our consolidated financial statements for the year ended December 31, 2014. As the outstanding debt was repaid during the year ended December 31, 2014, there was no interest allocated to discontinued operations in our consolidated financial statements for the year ended December 31, 2015. ﻿ Summarized cash flow information for both GMP and POC discontinued operations are as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿ |  | 2016 |  | 2015 |  | 2014
﻿ |  |  |  |  |  |  |  |  |
﻿Depreciation of property and equipment |  |  | - |  |  | 423 |  |  | 571
﻿Amortization of intangible assets |  |  | - |  |  | 866 |  |  | 1,792
﻿Stock-based compensation |  |  | - |  |  | (645) |  |  | 418
﻿Purchase of property and equipment |  |  | - |  |  | (671) |  |  | (1,095)
﻿ ﻿

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- Definition The entire disclosure 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 6: 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=51719941&loc=d3e2941-110230 Reference 7: 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=51717284&loc=d3e1361-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 Reference 12: 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=51717284&loc=d3e1474-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 + Details
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