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SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENT
SUBSEQUENT EVENT
On July 24, 2018, the Board of Directors extinguished the November 2013 share purchase authorization and replaced it with a new authorization to purchase up to $250.0 million of shares.

On July 31, 2018, the Company received notification from a customer of its Residential Hermetic business that it would wind down operations over the next 60 days. This business accounted for sales of $31.9 million for the six months ended June 30, 2018. As a result of this notification, the Company has accelerated its plans to exit this non-core underperforming business. The Company estimates this action to exit will result in fiscal 2018 impairment and other exit related costs of up to $35.0 million, of which $3.5 million is cash.

The Company has evaluated subsequent events from June 30, 2018 through the date of this report.