XML 49 R32.htm IDEA: XBRL DOCUMENT
v3.20.4

Discontinued Operations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Discontinued Operations | The following table presents the results of operations of the discontinued operations.
|  |  |  | Years Ended December 31,
|  |  |  |  |  | 2020 |  | 2019 |  | 2018
Net sales |  |  |  |  |  | $ | 225,255 |  |  | $ | 357,937 |  |  | $ | 246,463 |
Cost of sales (exclusive of depreciation and amortization shown separately below) |  |  |  |  |  | 160,464 |  |  | 249,157 |  |  | 175,787 |
Selling, general, and administrative expense |  |  |  |  |  | 20,779 |  |  | 34,328 |  |  | 20,927 |
Acquisition related costs excluded from selling, general and administrative expense |  |  |  |  |  | — |  |  | — |  |  | 5,763 |
Depreciation and amortization |  |  |  |  |  | 35,731 |  |  | 46,950 |  |  | 28,102 |
Restructuring and integration expense, net |  |  |  |  |  | — |  |  | — |  |  | 1,438 |
Goodwill impairment |  |  |  |  |  | 146,757 |  |  | — |  |  | — |
Other operating expense (income), net |  |  |  |  |  | 41 |  |  | 20 |  |  | (737) |
Income (loss) from operations |  |  |  |  |  | (138,517) |  |  | 27,482 |  |  | 15,183 |
Interest expense |  |  |  |  |  | 48,893 |  |  | 44,125 |  |  | 49,928 |
Loss on extinguishment of debt and write-off of debt issuance costs |  |  |  |  |  | 1,388 |  |  | 2,753 |  |  | 19,562 |
Other expense (income), net |  |  |  |  |  | (322) |  |  | 178 |  |  | (675) |
Loss from discontinued operations before costs of disposal and benefit for income taxes |  |  |  |  |  | (188,476) |  |  | (19,574) |  |  | (53,632) |
Benefit for income taxes |  |  |  |  |  | 12,468 |  |  | 3,582 |  |  | 11,865 |
Loss from discontinued operations before gain on disposal |  |  |  |  |  | (176,008) |  |  | (15,992) |  |  | (41,767) |
Gain on disposal of discontinued operations |  |  |  |  |  | 212,319 |  |  | — |  |  | — |
Benefit for income taxes on gain on disposal |  |  |  |  |  | 2,587 |  |  | — |  |  | — |
Income (loss) from discontinued operations, net of tax |  |  |  |  |  | $ | 38,898 |  |  | $ | (15,992) |  |  | $ | (41,767) |
The following table summarizes the amount of interest expense related to the credit facility that has been reclassified to discontinued operations.
|  |  |  | Years Ended December 31,
|  |  |  |  |  | 2020 |  | 2019 |  | 2018
Interest on debt |  |  |  |  |  | $ | 35,147 |  |  | $ | 40,996 |  |  | $ | 46,406 |
Amortization of debt issuance costs |  |  |  |  |  | 13,990 |  |  | 3,368 |  |  | 3,571 |
Capitalized interest and other |  |  |  |  |  | (244) |  |  | (239) |  |  | (49) |
Total interest expense of discontinued operations |  |  |  |  |  | $ | 48,893 |  |  | $ | 44,125 |  |  | $ | 49,928 |
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.
|  | December 31, 2020 |  | December 31, 2019
Cash and cash equivalents |  | $ | — |  |  | $ | 13,792 |
Accounts receivable, net |  | — |  |  | 48,318 |
Inventories |  | — |  |  | 51,644 |
Other current assets |  | — |  |  | 3,246 |
Total current assets of discontinued operations |  | — |  |  | 117,000 |
Property, plant and equipment, net |  | — |  |  | 118,536 |
Operating lease right-of-use assets |  | — |  |  | 20,044 |
Goodwill |  | — |  |  | 344,316 |
Intangible assets, net |  | — |  |  | 211,847 |
Other non-current assets |  | — |  |  | 311 |
Total non-current assets of discontinued operations |  | — |  |  | 695,054 |
Total assets of discontinued operations |  | $ | — |  |  | $ | 812,054 |
Accounts payable |  | $ | — |  |  | $ | 16,367 |
Accrued salaries, wages and benefits |  | — |  |  | 14,844 |
Income tax payable |  | — |  |  | 344 |
Current portion of operating lease liabilities |  | — |  |  | 2,364 |
Other current liabilities |  | — |  |  | 7,627 |
Total current liabilities of discontinued operations |  | — |  |  | 41,546 |
Deferred tax liabilities |  | — |  |  | 61,338 |
Operating lease liabilities, net of current portion |  | — |  |  | 18,405 |
Other non-current liabilities |  | — |  |  | 4,456 |
Total non-current liabilities of discontinued operations |  | — |  |  | 84,199 |
Total liabilities of discontinued operations |  | $ | — |  |  | $ | 125,745 |
The following table presents the significant noncash items and cash paid for capital expenditures of discontinued operations for each period presented.
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Depreciation and amortization |  | $ | 35,731 |  |  | $ | 46,950 |  |  | $ | 28,102 |
Goodwill impairment |  | 146,757 |  |  | — |  |  | — |
Amortization of debt issuance costs |  | 13,990 |  |  | 3,368 |  |  | 3,571 |
Loss on extinguishment of debt and write-off of debt issuance costs |  | 1,388 |  |  | 2,753 |  |  | 19,562 |
Acquisition of property, plant and equipment |  | 8,416 |  |  | 21,834 |  |  | 14,759 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | 695 |  |  | 5,321 |  |  | — |
Right-of-use assets obtained in exchange for new operating lease liabilities (1) |  | 6,174 |  |  | 51 |  |  | — |
_______________________________ (1) Includes new leases, renewals, and modifications after the adoption of ASC Topic 842, Leases, on January 1, 2019.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information 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 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration