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Discontinued Operations | 12 Months Ended
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Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | DISCONTINUED OPERATIONS EFLS As part of the strategy to align our resources with developing and selling our energy-efficient LED products into the commercial and military maritime markets, we completed the exit of our turnkey solutions business, operated by EFLS during the third quarter of 2015. During 2014, we shifted our focus away from the turnkey solutions business. We stopped accepting new projects and completed all outstanding solutions-based projects in the first quarter of 2015. As of September 30, 2015, the exit of our turnkey solutions business was complete. Accordingly, the operating results related to EFLS have been included as discontinued operations in the Consolidated Statements of Operations for all periods presented. There were no assets disposed as a result of the disposition, and we did not recognize a gain or loss on disposal or record an income tax expense or benefit. We do not anticipate any significant continuing involvement related to this discontinued operation. CLL In August 2015, we sold our wholly-owned United Kingdom subsidiary, CLL. The sale was for nominal consideration under the terms of the agreement. As a result of the transaction and the elimination of this foreign subsidiary consolidated under the equity method of accounting, we recorded a one-time loss of $44 thousand, which included a $469 thousand accumulated other comprehensive income reclassification adjustment for foreign currency translation adjustments. The loss was recorded in the Consolidated Statements of Operations under the caption "Loss on disposal of discontinued operations." We do not anticipate any significant continuing involvement related to this discontinued operation. Pool Products Business On November 26, 2013, we announced the sale of our pool products business for a cash purchase price of $5.2 million. Under the terms of the Purchase Agreement, we sold substantially all of the assets associated with the pool products business and the buyer assumed certain related liabilities. In connection with the sale, we and the buyer entered into a transition services agreement that continued until April 30, 2014, under which we provided services to transition the pool products business to the buyer. In addition, the Purchase Agreement contains representations, warranties and covenants of us and the buyer and prohibits us from competing with the buyer in the pool business for a period of five years following the closing. The Purchase Agreement also provided for an escrow of $500 thousand of the purchase price to secure customary indemnification obligations with respect to our representations, warranties, covenants and other obligations under the Purchase Agreement. Under the terms of the Purchase Agreement, the first of five $100 thousand scheduled escrow releases commenced on March 25, 2014, and was to continue on the 25th day of each of the next four subsequent months. As of December 31, 2015 and 2014, $200 thousand of the cash held in escrow had been released to us and $300 thousand remained in escrow subject to the resolution of outstanding buyer claims that were the subject of an arbitration claim filed by the buyer in February 2015. The legal fees incurred for the arbitration are included in the loss on disposal of discontinued operations. For more information on the status of the remaining cash in escrow, please refer to Note 15, "Legal Matters." As a result of exiting EFLS and selling CLL and the pool products businesses, we have eliminated all net sales and expenses associated with this business from the Consolidated Statements of Operations, and have reported the net (loss) income from those activities as discontinued operations in the Consolidated Statements of Operations for all years presented. The following table shows the components included in assets and liabilities of discontinued operations within the Consolidated Balance Sheets (in thousands):
| December 31, 2014
| EFLS |  | CLL |  | Total
Cash and cash equivalents | $ | 93 |  |  | $ | 4 |  |  | $ | 97 |
Trade accounts receivable | 312 |  |  | 145 |  |  | 457 |
Inventories | — |  |  | 414 |  |  | 414 |
Prepaid and other current assets | 7 |  |  | 95 |  |  | 102 |
Current assets of discontinued operations | 412 |  |  | 658 |  |  | 1,070 |
Property and equipment, net | — |  |  | 23 |  |  | 23 |
Other assets | — |  |  | 50 |  |  | 50 |
Non-current assets of discontinued operations | — |  |  | 73 |  |  | 73 |
Total assets of discontinued operations | $ | 412 |  |  | $ | 731 |  |  | $ | 1,143 |
Accounts payable | $ | 163 |  |  | $ | 318 |  |  | $ | 481 |
Accrued liabilities | 73 |  |  | 362 |  |  | 435 |
Billings in excess of costs and estimated earnings on uncompleted contracts | 23 |  |  | — |  |  | 23 |
Current liabilities of discontinued operations | 259 |  |  | 680 |  |  | 939 |
Total liabilities of discontinued operations | $ | 259 |  |  | $ | 680 |  |  | $ | 939 |
The following table summarizes the components included in loss from discontinued operations in our Consolidated Statements of Operations for the periods presented (in thousands):
| December 31,
| 2015 |  | 2014 |  | 2013
Net sales | $ | 1,078 |  |  | $ | 6,262 |  |  | $ | 16,564 |
Cost of sales | 588 |  |  | 4,690 |  |  | 12,254 |
Gross Profit | 490 |  |  | 1,572 |  |  | 4,310 |
Operating expenses of discontinued operations | 657 |  |  | 3,079 |  |  | 4,746 |
Other expenses (income) | — |  |  | 64 |  |  | (68 | )
(Loss) gain on disposal of discontinued operations | (534 | ) |  | (30 | ) |  | 3,915 |
(Loss) gain from discontinued operations before income taxes | (701 | ) |  | (1,601 | ) |  | 3,547 |
(Benefit from) provision for income taxes | (10 | ) |  | (2 | ) |  | 1 |
(Loss) gain from discontinued operations | $ | (691 | ) |  | $ | (1,599 | ) |  | $ | 3,546 |
The following table shows the components of the loss from discontinued operations by business for the periods presented (in thousands):
| December 31,
| 2015 |  | 2014 |  | 2013
CLL | (138 | ) |  | (1,020 | ) |  | (174 | )
EFLS | (29 | ) |  | (531 | ) |  | (866 | )
Pool products business | — |  |  | (20 | ) |  | 672 |
(Loss) gain from discontinued operations | (167 | ) |  | (1,571 | ) |  | (368 | )
CLL | (44 | ) |  | — |  |  | — |
Pool products business | (490 | ) |  | (30 | ) |  | 3,915 |
(Loss) gain on disposal of discontinued operations | (534 | ) |  | (30 | ) |  | 3,915 |
(Loss) gain from discontinued operations before income taxes | (701 | ) |  | (1,601 | ) |  | 3,547 |
(Benefit from) provision for income taxes | (10 | ) |  | (2 | ) |  | 1 |
(Loss) gain from discontinued operations | $ | (691 | ) |  | $ | (1,599 | ) |  | $ | 3,546 |

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 + Details
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