Note 2 Discontinued Operations and Assets Held for Sale

6 Months Ended

Jun. 30, 2011

Discontinued Operations and Assets held for Sale [Abstract]

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

Discontinued Operations and Assets Held for Sale

During the second quarter of 2010, the Company considered two businesses to be discontinued operations as noted below.

During the fourth quarter of 2009, the Company committed to a plan to exit its medical device line of business which was part of the Engineered Components reportable segment. The business was sold in May 2010 for cash proceeds of $2.0 million, which approximated the net book value of the assets and liabilities sold.

During the fourth quarter of 2007, the Company committed to a plan to sell its property management line of business. The sale was completed in April 2010 for cash proceeds of $13.0 million, resulting in a pre-tax gain on sale of approximately $10.1 million during the second quarter of 2010.

The results of the aforementioned businesses are reported as discontinued operations for all periods presented. Results of discontinued operations are summarized as follows:

	Three months ended June 30,					Six months ended June 30,
	2011		2010			2011		2010
	(dollars in thousands)
Net sales	$	—	$	130		$	—	$	660
Income from discontinued operations before income taxes	$	—	$	9,790		$	—	$	9,290
Income taxes	—		(3,580		)	—		(3,400		)
Income from discontinued operations, net of income taxes	$	—	$	6,210		$	—	$	5,890

There are no discontinued operations or assets held for sale as of June 30, 2011 or December 31, 2010.