Discontinued Operations

6 Months Ended

Jun. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

Assets and Liabilities of discontinued operations at June 30, 2015 include certain assets and liabilities relating to a sports business owned by Steel Excel and a building owned by DGT, which is held for sale.

Assets and Liabilities of discontinued operations at December 31, 2014 include assets and liabilities relating to HNH's discontinued operations, primarily Arlon LLC ("Arlon"), a sports business owned by Steel Excel and a building owned by DGT, which is held for sale.

	June 30, 2015		December 31, 2014
Assets of discontinued operations:
Trade and other receivables	$	—	$	16,044
Inventories, net	—		8,294
Other current assets	—		811
Goodwill	—		6,582
Other intangible assets, net	—		14,230
Property, plant and equipment, net	2,500		30,457
Total assets	$	2,500	$	76,418
Liabilities of discontinued operations:
Trade payables and accrued liabilities	$	450	$	6,702
Other current liabilities	—		3,986
Accrued pension liability	—		1,794
Other liabilities	—		719
Total liabilities	$	450	$	13,201

Summary results for our discontinued operations included in the Company's Consolidated Statements of Operations are detailed in the table below.

	Three Months Ended June 30,					Six Months Ended June 30,
	2015			2014 (b)		2015 (a)			2014 (b)
Sales	$	—		$	26,946	$	5,952		$	53,306
Net income	—			3,624		565			6,393
Income (loss) after taxes and noncontrolling interests	2			2,046		(1,115		)	3,604
(Loss) Gain on sale of discontinued operations after taxes and noncontrolling interests	(99		)	—		57,059			23

(a) Includes gain on sale of Arlon.

(b) Includes the operations of Arlon and the gain on disposal of certain assets recorded by HNH.

Arlon

On December 18, 2014, HNH entered into a contract to sell its Arlon business for $157,000 in cash, less transaction fees, subject to a final working capital adjustment and certain potential reductions as provided in the stock purchase agreement. The closing of the sale occurred in January 2015. The operations of Arlon, which manufactures high performance materials for the printed circuit board industry and silicone rubber-based materials, were part of SPLP's Diversified Industrial segment. The closing of the sale occurred in January 2015.