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DISPOSITION OF THE CORE BUSINESS DISPOSITION OF THE CORE BUSINESS (Tables)
 12 Months Ended
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Disposal group, including discontinued operations
We concluded that the divestiture of the Core business met the criteria for discontinued operations set forth in FASB ASC Topic No. 205, "Presentation of Financial Statements". Gross sales of the Core business prior to the divestiture during 2018 amounted to $19.6 million with a cost of sales of $10.5 million and related operating expenses of $2.8 million. The table below summarizes the cash consideration and the carrying values of disposed assets at the disposition date of August 30, 2018 included as part of discontinued operations:
(In thousands)
 
Gross consideration from the sale of the Core Business
$
97,000

Closing and transaction costs
5,905

Net proceeds from sale of the Core Business before taxes
$
91,095

 
 
Non-cash commitment to provide inventory
$
2,305

 
 
Book value of the Core Business
 
Current assets:
 
Inventories, net
$
2,195

Prepaid expenses and other current assets
57

Total current assets
2,252

Property and equipment, net of depreciation
375

Brand name and trademark
1,510

Purchased technology and license rights, net of depreciation
112

Total non-current assets
1,997

Total assets
$
4,249

 
 
Net gain on sale of the Core Business before taxes
84,541

Income tax expense
16,137

Net gain on sale of the Core Business after income taxes
$
68,404







Cash flows associated with discontinued operations are shown in the table below:

(in thousands)
2018
2017
2016
Net Income from discontinued operations
73,503

8,620

7,600

Depreciation and amortization
126

529

563

Change in current assets from discontinued operations
(2,378
)
362

(139
)
Change in non current assets from discontinued liabilities
(1,997
)
(632
)
(583
)
Change in current liabilities from discontinued operations
(1,021
)
(1,451
)
1,007

Net cash provided by operating activities
68,233

7,428

8,448