Note 13 - Discontinued Operations

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

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

(13) 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 nine months ended September 30, 2016, the Company recorded $4,503 and $5,082, respectively, as losses from discontinued operations, net of tax. For the three and nine months ended September 30, 2015, the Company recorded $129 and $291, respectively, as losses from discontinued operations, net of tax. As of September 30, 2016 and December

31, 2015, liabilities recorded on the Company’s balance sheet relating to discontinued operations were $16,127 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 nine months ended September 30, 2016 and 2015, were $312 and $1,062, 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 on discontinued operations to the net loss on discontinued operations, as presented on the income statement:

	Three months ended September 30,						Nine months ended September 30,
	2016			2015			2016			2015
Pre-tax loss from discontinued operations	$	(6,928	)	$	(197	)	$	(7,819	)	$	(447	)
Income tax benefit		2,425			68			2,737			156
Loss from discontinued operations, net of tax	$	(4,503	)	$	(129	)	$	(5,082	)	$	(291	)