Discontinued Operations

3 Months Ended

Mar. 31, 2015

Discontinued Operations [Abstract]

Discontinued Operations

11. Discontinued Operations

In connection with the 2014 Restructuring Plan, the Company approved a plan to dispose of a business unit within the Color segment. In 2014, the business met the criteria to be presented as a discontinued operation as established in ASC Subtopic 205-20, Discontinued Operations. The results of this business have been reported as a discontinued operation in the Consolidated Condensed Statements of Earnings for all periods presented. The corresponding current assets, which include property, plant, and equipment, have met the held for sale criteria and have been properly presented on the Consolidated Condensed Balance Sheet.

The following table summarizes the discontinued operation’s results for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
(In thousands)	2015			2014
Revenue	$	187		$	1,006
Loss from discontinued operations before income taxes		(294	)		(7,007	)
Income tax benefit		85			2,301
Loss from discontinued operations, net of tax	$	(209	)	$	(4,706	)

Pre-tax restructuring costs are included in the loss before income taxes from discontinued operations. For the three months ended March 31, 2015, these costs are minimal, and for the three months ended March 31, 2014, these costs were $6.5 million.  See Note 10, Restructuring, for additional information.