Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Net sales and income, including the pre-tax gain of $3,193,000, from discontinued operations were as follows for the years ended December 31:



		2012		2011		2010
		Dollars in thousands
Net sales	$	8,705	$	15,589	$	7,992

Income from discontinued operations	$	3,842	$	1,287	$	778
Income tax expense		2,418		459		292
Income from discontinued operations	$	1,424	$	828	$	486
Effective income tax rate		63.0	%	35.7	%	37.5	%

Goodwill of $2,588,000 allocated to SSD for discontinued operations was not deductible for income tax purposes.

The following table details balance sheet information for discontinued operations at December 31:



		2012		2011
		In thousands
Current Assets	$	464	$	4,864
Other Assets
Property, plant and equipment-net		-		2,281
Goodwill		-		2,588
Other intangibles - net		-		177
Total Other Assets		-		5,046
Total Assets		464		9,910
Current Liabilities		106		1,294
Net assets of discontinued operations	$	358	$	8,616

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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