Discontinued Operations Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Results of discontinued operations, including the discontinued Cequent businesses and NI Industries, are summarized as follows:

	Three months ended September 30,			Nine months ended September 30,
	2014			2015			2014
	(dollars in thousands)
Net sales	$	157,870		$	300,900		$	488,050
Cost of sales	(119,700		)	(227,860		)	(366,740		)
Gross profit	38,170			73,040			121,310
Selling, general and administrative expenses	(27,100		)	(72,360		)	(83,090		)
Operating profit	11,070			680			38,220
Interest expense	(1,280		)	(2,540		)	(3,960		)
Other expense, net	6,080			(1,970		)	4,870
Other expense, net	4,800			(4,510		)	910
Income (loss) from discontinued operations, before income taxes	15,870			(3,830		)	39,130
Income tax expense	(4,730		)	(910		)	(10,540		)
Income (loss) from discontinued operations, net of tax	$	11,140		$	(4,740	)	$	28,590

The carrying value of the assets and liabilities immediately preceding the spin-off of the Cequent businesses on June 30, 2015, and as of December 31, 2014 were as follows:

	Immediately preceding the spin-off on June 30, 2015		December 31, 2014
Assets
Current assets:
Cash and cash equivalents	$	17,050	$	—
Receivables, net	92,750		63,520
Inventories	125,750		123,370
Deferred income taxes	4,840		4,840
Prepaid expenses and other current assets	6,520		5,690
Total current assets	246,910		197,420
Property and equipment, net	$	48,870	$	55,180
Goodwill	5,630		6,580
Other intangibles, net	61,400		66,510
Other assets	15,910		11,930
Total assets	$	378,720	$	337,620
Liabilities
Current liabilities:
Current maturities, long-term debt	$	17,940	$	460
Accounts payable	81,830		81,500
Accrued liabilities	44,190		37,940
Total current liabilities	143,960		119,900
Long-term debt	195,460		300
Deferred income taxes	9,220		8,970
Other long-term liabilities	27,900		25,990
Total liabilities	$	376,540	$	155,160