Discontinued Operation

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operation

Discontinued Operation

On March 15, 2016, the Company completed the sale of TPI for $55,070 in cash, subject to customary working capital adjustments. Under the terms of the sale, $1,500 of the purchase price was placed into escrow pending adjustment based upon the final calculation of the working capital at closing. The Company and the buyer agreed to the final working capital adjustment during the third quarter of 2016, which resulted in the full escrowed amount being returned to the buyer. The sale resulted in pre-tax and after-tax gains of $2,003 and $1,306, respectively, for the year ended December 31, 2016 (Predecessor).

Prior to the sale of TPI, the Company had two reportable segments consisting of its Plastics segment and its Metals segment. Subsequent to the sale of TPI, which represented the Company's Plastics segment in its entirety, the Company has only one reportable segment.

Summarized results of the discontinued operation were as follows:

	Predecessor
	Year Ended
	December 31, 2016
Net sales	$	29,680
Cost of materials	21,027
Operating costs and expenses	7,288
Interest expense(a)	333
Income from discontinued operations before income taxes	$	1,032
Income tax benefit (b)	(3,770		)
Gain on sale of discontinued operations, net of income taxes	1,306
Income from discontinued operations, net of income taxes	$	6,108

^(a) Interest expense was allocated to the discontinued operation based on the debt that was required to be paid as a result of the sale of TPI.

^(b) Income tax benefit for the year endedDecember 31, 2016 (Predecessor) includes $4,207 reversal of valuation allowance resulting from the sale of TPI.