Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Components of Net Assets of Discontinued Operations

The components of the net assets of EMS discontinued operations were:

(In thousands of dollars)	December 31,
	2012
ASSETS
Current Assets
Accounts receivable, net	$	36,816
Inventories, net		47,800
Current deferred tax asset		5,785
Other current assets		2,146
Total current assets		92,547
Property, plant and equipment, net		17,680
Goodwill		500
Other intangibles		4,960
Other assets		3,083
Total assets	$	118,770
Current Liabilities
Accounts payable	$	29,618
Accrued salaries, wages and vacation		3,147
Income taxes payable		634
Other accrued liabilities		6,428
Total current liabilities		39,827
Deferred taxes		1,956
Other liabilities		437
Total liabilities		42,220
Total Net Assets	$	76,550

Statement of Earnings of Discontinued Operation

The Condensed Statement of Operations of the EMS discontinued operations is:

(In thousands of dollars)	Year ended December 31,
	2013			2012			2011
Net sales	$	155,055		$	272,437		$	308,649
Cost of goods sold		142,589			262,571			288,023
Insurance recovery for business interruption		—			(20,256	)		(4,082	)
Selling, general and administrative expenses		11,617			17,315			17,754
Insurance recovery for property damage		—			(1,769	)		(6,067	)
Restructuring and impairment charge		1,444			2,949			489
Operating (loss) / earnings		(595	)		11,627			12,532
Interest (expense) / income, net		(61	)		10			(11	)
Other (expense) / income, net		(284	)		861			1,500
(Loss) / earnings before income taxes		(940	)		12,498			14,021
Income tax (benefit) / expense		(162	)		5,657			4,317
Net (Loss)/Earnings from Discontinued Operations	$	(778	)	$	6,841		$	9,704