Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summary of Discontinued Operations and Disposal Groups

The following table presents the results of operations of the discontinued operations.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales	$	68,525	$	93,438	$	223,944	$	269,981
Cost of sales (exclusive of depreciation and amortization shown separately below)	50,444		64,420		158,538		186,694
Selling, general and administrative expense	6,164		8,550		20,189		25,917
Depreciation and amortization	12,030		11,337		35,731		35,418
Goodwill impairment	—		—		146,757		—
Other operating expense (income), net	24		(94)		20		(114)
Income (loss) from operations	(137)		9,225		(137,291)		22,066
Interest expense	12,248		10,928		37,857		33,663
Loss on extinguishment of debt and write-off of debt issuance costs	1,388		—		1,388		2,391
Other expense (income), net	(234)		(535)		(325)		21
Loss from discontinued operations before costs of disposal and benefit for income taxes	(13,539)		(1,168)		(176,211)		(14,009)
Benefit for income taxes	39,954		149		59,598		2,159
Income (loss) from discontinued operations before costs of disposal	26,415		(1,019)		(116,613)		(11,850)
Costs of disposal of discontinued operations (1)	(6,598)		—		(7,956)		—
Benefit for income taxes on disposal costs	513		—		603		—
Income (loss) from discontinued operations, net of tax	$	20,330	$	(1,019)	$	(123,966)	$	(11,850)

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(1) Represents legal, accounting, and other incremental direct costs related to the sale of the Life Sciences business that were incurred prior to the closing of the sale.

The following table summarizes the amount of interest expense related to the credit facility that has been reclassified to discontinued operations.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Interest on debt	$	11,060	$	10,217	$	34,410	$	31,490
Amortization of debt issuance costs	1,215		812		3,692		2,478
Capitalized interest and other	(27)		(101)		(245)		(305)
Total interest expense of discontinued operations	$	12,248	$	10,928	$	37,857	$	33,663

The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.

	September 30, 2020		December 31, 2019
Cash and cash equivalents	$	15,986	$	13,792
Accounts receivable, net	37,465		48,318
Inventories	49,646		51,644
Other current assets	3,042		3,246
Total current assets	106,139		117,000
Property, plant and equipment, net	114,364		118,536
Operating lease right-of-use assets	24,199		20,044
Goodwill	197,353		344,316
Intangible assets, net	188,584		211,847
Other non-current assets	261		311
Total non-current assets	524,761		695,054
Total assets held for sale (1)	$	630,900	$	812,054
Accounts payable	$	11,362	$	16,367
Accrued salaries, wages and benefits	15,709		14,844
Income tax payable	218		344
Current portion of operating lease liabilities	2,768		2,364
Other current liabilities	5,962		7,627
Total current liabilities	36,019		41,546
Deferred tax liabilities	55,728		61,338
Operating lease liabilities, net of current portion	22,333		18,405
Other non-current liabilities	6,752		4,456
Total non-current liabilities	84,813		84,199
Total liabilities held for sale (1)	$	120,832	$	125,745

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(1) As of September 30, 2020, all assets and liabilities held for sale are classified as current on the Condensed Consolidated Balance Sheet because they were expected to be sold within twelve months.

The following table presents the significant noncash items and cash paid for capital expenditures of discontinued operations for each period presented.

	Nine Months Ended September 30,
	2020		2019
Depreciation and amortization	$	35,731	$	35,418
Goodwill impairment	146,757		—
Amortization of debt issuance costs	3,692		2,478
Loss on extinguishment of debt and write-off of debt issuance costs	1,388		2,391
Acquisition of property, plant and equipment	7,626		16,358
Right-of-use assets obtained in exchange for new finance lease liabilities	695		1,208
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	6,174		115

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(1) Includes new leases, renewals, and modifications.