Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The key components of (loss) income from discontinued operations were as follows:

	Year Ended December 31,
	2018			2017			2016
	(In thousands)
Net sales	$	—		$	436,682		$	461,294
Cost of Sales	—			294,946			308,025
Selling, general and administrative expense(1)	7,156			118,740			136,380
Divestiture-related expense, net(2)	4,321			5,257			—
Restructuring and other related items(3)	—			(6,768		)	15,674
Operating (loss) income	(11,477		)	24,507			1,215
Interest income(4)	—			473			260
(Loss) gain on disposal	(4,337		)	308,388			—
(Loss) income from discontinued operations before income taxes	(15,814		)	333,368			1,475
Income tax expense (5)	12,536			109,321			11,036
(Loss) income from discontinued operations, net of taxes	$	(28,350	)	$	224,047		$	(9,561	)

(1) Pursuant to the Purchase Agreement, the Company retained its asbestos-related contingencies and insurance coverages. However, as the Company did not retain an interest in the ongoing operations of the business subject to the contingencies, the Company has classified asbestos-related activity in its Consolidated Statements of Income as part of (Loss) income from discontinuing operations. See Note 17, “Commitments and Contingencies” for further information.

(2) Primarily related to professional and consulting fees associated with due diligence and preparation of regulatory filings, as well as employee benefit arrangements and other disposition-related activities.

(3) During the year ended December 31, 2017, the Company recorded a gain of approximately $12 million from the sale of a facility that was previously closed as part of restructuring activities.

(4) Interest expense has not been allocated to the discontinued operations.

(5) Income tax expense for the year ended December 31, 2018 includes incremental tax expense due to changes in the estimated gain allocation by jurisdiction.