Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The major line items constituting the income of the high voltage product line which are reflected in our consolidated statements of operations as discontinued operations are as follows (in thousands):

	Years Ended December 31,
	2018			2017
Revenue	$	22,620		$	42,659
Cost of revenue	13,035			19,462
Gross profit	9,585			23,197
Operating expenses:
Selling, general and administrative	6,886			7,884
Research and development	2,087			2,084
Total operating expenses	8,973			9,968
Income from operations of discontinued operations	612			13,229
Other components of defined benefit plans, net	938			628
Other income and expense, net	(78		)	(26		)
Gain on sale of high voltage product line, net of income taxes	5,411			—
Income tax benefit (provision)	1,011			(3,098		)
Income from discontinued operations, net of income taxes	$	7,894		$	10,733

Following is the reconciliation of purchase price to net proceeds received and to the gain recognized in income from discontinued operations (in thousands):

Purchase price	$	55,055
Adjustments to purchase price	(791		)
Amounts held in escrow	(859		)
Payment of withholding taxes	(3,492		)
Cash proceeds received	49,913
Transaction expenses	(2,099		)
Net cash proceeds received	$	47,814
Net cash proceeds received	$	47,814
Net assets of high voltage product line	(56,718		)
Release of accumulated other comprehensive income from equity	10,120
Release of withholding tax liabilities	890
Release of employee liabilities and cancellation of equity awards	488
Payment of withholding taxes	3,492
Amounts held back in escrow	859
Gain on sale of high voltage product line, before income taxes	6,945
Income tax related to gain on sale	(1,534		)
Gain on sale, net of income taxes	$	5,411