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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Summary of Discontinued Operations

The following table summarizes the major line items included in the results of operations of the discontinued operations.

 

     Three Months Ended      Nine Months Ended  
     September 30,      September 30,  
     2017      2016      2017      2016  

Net sales

    $ 31,600      $ 58,247      $ 168,287      $ 188,149  

Cost of products sold (exclusive of depreciation and amortization shown separately below)

      26,070        45,353        130,554        145,426  

Selling, general and administrative expense

      2,466        4,146        11,589        13,211  

Depreciation and amortization

      1,611        2,956        7,723        8,766  

Restructuring and integration expense

      —          50        427        2,390  
  

 

 

     

 

 

     

 

 

     

 

 

  

Income from operations

      1,453        5,742        17,994        18,356  

Gain on disposal of discontinued operations

      215,280        —          215,280        —    

Other income (expense)

      (59 )       (98 )       (265 )       (325 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Income (loss) from discontinued operations before provision (benefit) for income taxes

      216,674        5,644        233,009        18,031  

Provision for income taxes

      (80,849 )       (1,981 )       (86,430 )       (5,467 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Income (loss) from discontinued operations, net of tax

      135,825        3,663        146,579        12,564  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.

 

     September 30,      December 31,  
     2017      2016  

Cash

    $ —        $ 8,134  

Accounts receivable, net

      —          46,114  

Inventories

      —          47,714  

Other current assets

      —          4,755  
  

 

 

     

 

 

  

Total current assets of discontinued operations

      —          106,717  
  

 

 

     

 

 

  

Property, plant and equipment, net

      —          92,373  

Goodwill, net

      —          8,909  

Intangible assets, net

      —          1,718  

Other non-current assets

      —          290  
  

 

 

     

 

 

  

Total non-current assets of discontinued operations

      —          103,290  
  

 

 

     

 

 

  

Total assets of discontinued operations

    $ —        $ 210,007  
  

 

 

     

 

 

  

Accounts payable

    $ —        $ 31,014  

Accrued salaries, wages and benefits

      —          9,234  

Income taxes payable

      —          2,997  

Other current liabilities

      —          2,176  
  

 

 

     

 

 

  

Total current liabilities of discontinued operations

      —          45,421  
  

 

 

     

 

 

  

Deferred tax liabilities

      —          3,522  

Accrued post-employment benefits

      —          4,707  

Other non-current liabilities

      —          3,731  
  

 

 

     

 

 

  

Total non-current liabilities of discontinued operations

      —          11,960  
  

 

 

     

 

 

  

Total liabilities of discontinued operations

    $ —        $ 57,381  
  

 

 

     

 

 

  

The following table presents the significant noncash items and cash paid for capital expenditures of discontinued operations for each period presented.

 

     Nine Months Ended  
     September 30,  
     2017      2016  

Depreciation and amortization

    $ 7,723      $ 8,766  

Acquisition of property, plant and equipment

    $ 10,024      $ 14,015