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Discontinued Operations | 12 Months Ended
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Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | In August 2017, we sold our global precision bearing components business (the “PBC Business”) and received cash proceeds at closing of $387.6 million and recorded a $0.8 million receivable, which was received in 2018. The PBC Business included all our facilities that were engaged in the production of precision steel balls, steel rollers, and metal retainers and automotive specialty products used primarily in the bearing industry. We recorded an after-tax gain on sale of $127.7 million, which is included in the “Income from discontinued operations, net of tax” line on the Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2017. The gain includes the effects of reclassifying $9.3 million in cumulative foreign currency translation gain from accumulated comprehensive income and eliminating the non-controlling interest attributable to the PBC Business as of August 17, 2017. The operating results of the PBC Business are classified as discontinued operations and presented, net of tax, as one line item on the Consolidated Statements of Operations and Comprehensive Income (Loss). The Consolidated Statements of Cash Flows for the year ended December 31, 2017, include cash flows of the PBC Business in each line item unless otherwise stated. We had no discontinued operations in the years ended December 31, 2019 and 2018. The following table presents the results of operations of the discontinued operations.
|  | Year Ended December 31, 2017 (1)
Net sales |  | $ | 168,287 |
Cost of products sold (exclusive of depreciation and amortization shown separately below) |  | 130,555 |
Selling, general and administrative expense |  | 11,818 |
Depreciation and amortization |  | 7,722 |
Restructuring and integration expense |  | 429 |
Income from operations |  | 17,763 |
Interest expense |  | (181 | )
Other income (expense), net |  | (84 | )
Income from discontinued operations before gain on disposal and provision for income taxes |  | 17,498 |
Provision for income taxes on discontinued operations |  | (7,461 | )
Income from discontinued operations before gain on disposal |  | 10,037 |
Gain on disposal of discontinued operations |  | 213,503 |
Provision for income taxes on gain on disposal |  | (85,852 | )
Income from discontinued operations, net of tax |  | $ | 137,688 |
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(1) | Includes the results of operations of the PBC Business from January 1, 2017 to the sale completion date of August 17, 2017.
The following table presents the significant noncash items and cash paid for capital expenditures of discontinued operations for each period presented.
|  | Year Ended December 31, 2017
Depreciation and amortization |  | $ | 7,722 |
Acquisition of property, plant and equipment |  | $ | 7,316 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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