XML 37 R24.htm IDEA: XBRL DOCUMENT v3.3.1.900
Discontinued Operations
12 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
On October 2, 2013, CTS completed the sale of its EMS business to Benchmark for approximately $75,000 in cash. Included in the transaction were five manufacturing facilities (Moorpark, California; Londonderry, New Hampshire; Bangkok, Thailand; Matamoros, Mexico and San Jose, California) and approximately 1,000 employees.
The Consolidated Statement of Earnings (Loss) of the EMS discontinued operations is as follows:
 
Year Ended
 
December 31, 2013
Net sales
$
155,055

Cost of goods sold
142,589

Selling, general and administrative expenses
11,617

Restructuring and impairment charge
1,444

Operating loss
(595
)
Other expense, net
(345
)
Loss before income taxes
(940
)
Income tax benefit
(162
)
Loss from discontinued operations
(778
)
Loss on sale of EMS operations (net of tax of $3,923)
(5,148
)
Net loss from discontinued operations
$
(5,926
)

Included in Consolidated Statement of Earnings (Loss) for discontinued operations was approximately $700 of amortization on net intangible assets for the year ended December 31, 2013.