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DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
2. DISCONTINUED OPERATIONS
Heat Treating Business
On March 30, 2012, the Corporation sold the assets and real estate of its heat treating business, which had been reported in the Surface Technologies segment, to Bodycote plc for $52 million. The heat treating business’ operating results are included in discontinued operations in the Corporation’s Consolidated Statement of Earnings for all periods presented.
Components of earnings from discontinued operations are as follows for the year ended December 31:
(In thousands)
 
2013
 
2012
 
2011
Net sales
 
$
—

 
$
10,785

 
$
36,510

Earnings from discontinued operations before income taxes
 
—

 
4,929

 
12,521

Provision for income taxes
 
—

 
(1,886
)
 
(4,752
)
Gain on divestiture, net of taxes of $11,400
 
—

 
18,512

 
—

Earnings from discontinued operations
 
$
—

 
$
21,555

 
$
7,769


Legacy Distribution Business
On July 29, 2011, the Corporation sold the assets of the legacy distribution business within the Flow Control segment to McJunkin Red Man Corporation for $4.6 million in cash. The determination was made to divest the business as it was not considered a core business of the Corporation. The disposal resulted in a loss of less than $0.1 million and was not reported as a discontinued operation as the amounts are not considered significant. The business contributed $13.7 million in sales and a pretax loss of $0.3 million for the year ended December 31, 2010.
Hydro-pneumatic (Hydrop) product line
On September 29, 2011, the Corporation sold the assets of the Hydrop suspension business, within the Controls segment, to Stromsholmen AB, a subsidiary of the Barnes Group for CHF 3.1 million ($3.5 million) in cash. The determination was made to divest the business as it was not considered a core business of the Corporation. The disposal resulted in a $1.3 million pre-tax gain and was not reported as discontinued operations as the amounts are not considered significant. This business contributed $0.8 million in sales for the year ended December 31, 2010.