XML 40 R27.htm IDEA: XBRL DOCUMENT v3.19.2
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of components of assets and liabilities that are attributable to discontinued operations

The components of assets and liabilities that are attributable to discontinued operations are as follows (in thousands):

 

   June 30,   December 31, 
   2019   2018 
Assets of discontinued operations:          
Cash and cash equivalents  $6   $11 
Accounts receivable - trade, net   15,397    12,944 
Inventories, net   20,131    23,632 
Income taxes receivable   —    566 
Prepaid expenses   604    514 
Property, plant and equipment, net   4,300    4,406 
Right of use asset   1,928    2,124 
Deferred income taxes   78    134 
Intangible assets, net   3,377    3,460 
Goodwill   5,557    5,557 
Assets of discontinued operations  $51,378   $53,348 
           
Liabilities of discontinued operations:          
Bank overdrafts  $793   $1,690 
Accounts payable and accrued liabilities   20,278    18,894 
Income taxes payable   655    778 
Pension deficit   3    148 
Other long-term liabilities   2,090    2,187 
Liabilities of discontinued operations  $23,819   $23,697 

 
Schedule of discontinued operations of the liquid-filled and dry-type transformer manufacturing businesses in the Consolidated Statement of Operations

The following table presents the discontinued operations of the liquid-filled and dry-type transformer manufacturing businesses in the Consolidated Statement of Operations (in thousands):

 

   Three Months Ended June 30,   Six Months Ended June 30, 
   2019   2018   2019   2018 
Revenues  $19,003   $21,599   $40,684   $42,530 
Costs and Expenses                    
   Cost of goods sold   16,047    16,874    33,886    33,749 
Selling, general and administrative   2,275    2,832    4,715    5,395 
Foreign exchange loss (gain)   143    197    (491)   272 
Interest expense   275    520    550    948 
Other expense (income)   —      (1)   48    96 
Total costs and expenses   18,740    20,422    38,708    40,460 
Income before provision for income taxes   263    1,177    1,976    2,070 
Income tax expense   131    315    533    476 
Income from discontinued operations, net of income taxes  $132   $862   $1,443   $1,594 

 
Schedule of discontinued operations of the liquid-filled and dry-type transformer manufacturing businesses in the Consolidated Statements of Cash Flows

The following table presents the discontinued operations of the liquid-filled and dry-type transformer manufacturing businesses in the Consolidated Statements of Cash Flows (in thousands):

 

   Six Months Ended June 30, 
   2019   2018 
Net cash provided by operating activities  $2,793   $1,580 
Net cash used in investing activities   (97)   (57)
Net cash used in financing activities   (2,607)   (1,685)
Effect of foreign exchange on cash and cash equivalents   (94)   152 
Increase in cash and cash equivalents  $(5)  $(10)