v2.4.0.8
Discontinued Operations
 9 Months Ended
Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

15.    Discontinued Operations


The Reno Business that the Company committed to sell in July 2014 is presented below as discontinued operations. Historically, the Reno Business was a component of the Company’s Heavy Duty Diesel Systems division. The expense information for discontinued operations also includes an additional $0.3 million accrual recorded during the three and nine months ended September 30, 2014, to increase the Company’s estimated liability to settle its ongoing indemnification matters with JM associated with the sale of AUS in 2009. See Note 13 for additional information.


The following table presents the major classes of the assets and liabilities of discontinued operations held for sale in the consolidated balance sheets as of September 30, 2014 and December 31, 2013.


 

September 30,

2014

 

December 31,

2013

 

 

Assets:

 

 

 

 

 

Accounts receivable, net

$

430

 

$

379

Inventories

 

650

 

 

634

Prepaid expenses and other current assets

 

31

 

 

34

Total current assets of discontinued operations held for sale

 

1,111

 

 

1,047

 

 

 

 

 

 

Property and equipment, net

 

77

 

 

87

Intangible assets, net

 

50

 

 

70

Goodwill

 

286

 

 

286

Total long-term assets of discontinued operations held for sale

 

413

 

 

443

 

 

 

 

 

 

Total assets of discontinued operations held for sale

$

1,524

 

$

1,490

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

Accounts payable

$

329

 

$

283

Accrued expenses and other current liabilities

 

173

 

 

143

Total liabilities of discontinued operations held for sale

$

502

 

$

426

 

 

 

 

 

 

Net assets of discontinued operations held for sale

$

1,022

 

$

1,064


In presenting discontinued operations, general corporate overhead expenses that have been allocated historically to the standard exhaust and specialty parts business for segment presentation purposes are not included in discontinued operations. The following table presents revenue and expense information for discontinued operations for the three and nine months ended September 30, 2014 and 2013.


 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 

 

2014

 

2013

 

2014

 

2013

Revenue

$

1,021

 

$

896

 

$

2,822

 

$

2,648

Pre-tax income (loss)

 

(179)

 

 

9

 

 

(144)

 

 

61

Income tax expense

 

-

 

 

1

 

 

-

 

 

2

Net income (loss) from discontinued operations

$

(179)

 

$

8

 

$

(144)

 

$

59