Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Wolverine

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the amounts of the assets acquired and liabilities assumed recognized at the acquisition date on a preliminary basis (in thousands):

Trade and other receivables	$	9,491
Inventories	17,864
Prepaid and other current assets	90
Property, plant and equipment	6,096
Goodwill	14,111
Other intangibles	13,657
Total assets acquired	61,309
Trade payables	(1,167		)
Accrued liabilities	(395		)
Net assets acquired	$	59,747

Steel Excel

Business Acquisition [Line Items]

Schedule of Consideration Paid

The following table summarizes the consideration paid for the controlling interest in Steel Excel:

	Consideration Paid
Acquisition-date fair value of previously held equity interest	$	137,532
Fair value of SWH transferred to Steel Excel	68,747
Less: cash received from Steel Excel for SWH	(7,922		)
Total	$	198,357

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed at the Acquisition Date and the fair value of the noncontrolling interest in Steel Excel on the Acquisition Date:

	Amount
Assets:
Cash and cash equivalents	$	41,963
Marketable securities	217,526
Accounts receivable	23,435
Prepaid expenses and other current assets	3,129
Property, plant and equipment	74,880
Goodwill	48,468
Identifiable intangible assets	22,793
Other assets	4,088
Total assets acquired	$	436,282
Liabilities:
Accounts payable and accrued liabilities	$	10,842
Debt	17,968
Other long-term liabilities	19,517
Total liabilities assumed	48,327
Fair value of non-controlling interests	189,598
Net assets acquired	$	198,357

Schedule of Intangible Assets Acquired

The valuation of the intangible assets acquired and related amortization periods are as follows:

	Amount		Amortization Period (Years)
Products and customer relationships	$	16,191	8 to 10 Years
Trademarks	5,890		5 to 7 Years
Favorable lease	47		2 Years
Non-compete agreement	469		5 Years
Other	196
Total identifiable intangible assets	$	22,793

HNH

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information

The 2013 supplemental pro forma earnings were adjusted to exclude $600 of acquisition-related costs incurred in 2013 and $500 of nonrecurring expense related to the fair value adjustment to acquisition-date inventories. 2012 supplemental pro forma earnings were adjusted to include these charges.

	Nine Months Ended September 30,
	2013			2012
Revenue	$	638,445		$	645,436
Net (loss) income attributable to common unitholders	(9,868		)	45,136
Net (loss) income per common unit – basic and diluted	(0.33		)	1.54