Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations [Abstract]

Discontinued Operations

13. Discontinued Operations

In connection with the 2014 Restructuring Plan, the Company approved a plan to dispose of a business unit within the Color segment. The Company determined that as of September 30, 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 Statements of Earnings for all periods presented. The corresponding assets, which include property, plant, and equipment, have met the held for sale criteria and have been properly presented on the Consolidated Balance Sheets.

The following table summarizes the discontinued operation’s results, which are included in the loss from discontinued operations in the Consolidated Statements of Earnings for the years ended December 31, 2015, 2014, and 2013:

(In thousands)	2015			2014			2013
Net sales	$	187		$	5,197		$	5,424
Loss from discontinued operations before income taxes		(471	)		(11,496	)		(1,418	)
Income tax benefit		9			3,371			415
Loss from discontinued operations, net of tax	$	(462	)	$	(8,125	)	$	(1,003	)

Pre-tax restructuring costs are included in the loss before income taxes from discontinued operations. For the year ended December 31, 2015, the restructuring costs were not material and for the year ended December 31, 2014, these costs were $11.0 million. See Note 12, Restructuring Charges, for additional information.