Note 13 - Discontinued Operations

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

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

(1 3 ) Discontinued Operations

For all periods presented, financial results for discontinued operations relate to environmental investigation and remediation expenses for divested sites. For the three and six months ended June 30, 2016, the Company recorded $316 and $579 as losses from discontinued operations, net of tax. For the three and six months ended June 30, 2015, the Company recorded income of $213 related to insurance proceeds and losses of $162, respectively, from discontinued operations. As of June 30, 2016 and December 31, 2015, liabilities recorded on the Company’s balance sheet relating to discontinued operations were $8,597 and $8,209, 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 for the six months ended June 30, 2016 and 2015, were $195 and $663, respectively. Refer to Note 12 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/income on discontinued operations to the net loss/income on discontinued operations, as presented on the income statement:

	Three months ended June 30,						Six months ended June 30,
	2016			2015			2016			2015
Pre-tax (loss)/income from discontinued operations	$	(487	)	$	327		$	(891	)	$	(250	)
Income tax benefit/(expense)		171			(114	)		312			88
(Loss)/income from discontinued operations, net of tax	$	(316	)	$	213		$	(579	)	$	(162	)