DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables)

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Summary of Financial Results of All Discontinued Operations

The aggregate financial results of all discontinued operations for the three months ended March 31 were as follows:

(In thousands)	2016		2015
Net sales	$	—	$	34,259
Loss from discontinued operations before income taxes (1)	—		(40,112		)
Income tax benefit	—		12,678
Gain on sale of business (2)	—		202
Earnings from discontinued operations	$	—	$	(27,232	)

⁽¹⁾ Loss from discontinued operations before income taxes includes approximately $41 million of Held for sale impairment expense in the three months ended March 31, 2015.

⁽²⁾ In the first quarter ended March 31, 2015, the Corporation recognized an aggregate after tax gain of $0.9 million on the sale of our Aviation Ground Support Equipment business, which operated within the Defense segment.