Note 12 - Discontinued Operations

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

(12)     Discontinued Operations

For all periods presented, financial results for discontinued operations relate to environmental investigation and remediation expenses for sites that were divested prior to December 31, 2014. For the three months ended September 30, 2015 and 2014, the Company recorded $129 and $113, respectively, as losses from discontinued operations, net of tax. For the nine months ended September 30, 2015 and 2014, the Company recorded $291 and $457, respectively, as losses from discontinued operations, net of tax. As of September 30, 2015 and December 31, 2014, liabilities recorded on the Company’s balance sheet relating to discontinued operations were $8,380 and $8,647, respectively. At this time, we cannot reasonably estimate the period of time during which the involvement is expected to continue. Net cash used in discontinued operations was $1,062 and $1,494 for the nine months ended September 30, 2015 and 2014, respectively. Refer to Note 11 to the Company’s consolidated financial statements for further disclosures on the Company’s environmental contingencies.

The following table is a reconciliation of the pre-tax loss from discontinued operations to the net loss from discontinued operations, as presented on the income statement:

	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Pre-tax loss from discontinued operations	$	(197	)	$	(231	)	$	(447	)	$	(760	)
Income tax benefit		68			118			156			303
Loss from discontinued operations, net of tax	$	(129	)	$	(113	)	$	(291	)	$	(457	)