Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Summary of financial information has been segregated from continuing operations

The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the years ended December 31, 2018, 2017, and 2016 (in thousands):

	Consumer and Industrial Chemistry Technologies
	2018			2017			2016
Discontinued operations:
Revenue	$	72,344		$	73,992		$	74,599
Operating expenses	(65,940		)	(63,621		)	(62,673		)
Depreciation and amortization	(2,760		)	(2,391		)	(2,257		)
Research and development	(590		)	(515		)	(1		)
Income from operations	3,054			7,465			9,668
Other income (expense)	341			(284		)	127
Income before income taxes	3,395			7,181			9,795
Income tax expense	(652		)	(2,730		)	(3,441		)
Net income from discontinued operations	$	2,743		$	4,451		$	6,354

The assets and liabilities held for sale on the Consolidated Balance Sheets as of December 31, 2018 and 2017 are as follows (in thousands):

	Consumer and Industrial Chemistry Technologies
	2018		2017
Assets:
Accounts receivable, net	$	10,547	$	11,121
Inventories, net	52,069		43,299
Other current assets	446		88
Property and equipment, net	15,899		16,049
Goodwill	19,480		19,480
Other intangible assets, net	20,029		26,183
Assets held for sale	118,470		116,220
Liabilities:
Accounts payable	$	8,883	$	11,654
Accrued liabilities	291		796
Liabilities held for sale	$	9,174	$	12,450

The following summarized financial information has been segregated from continuing operations and reported as Discontinued Operations for the years ended December 31, 2017 and 2016 (in thousands):

	Drilling Technologies						Production Technologies
	2017			2016			2017			2016
Discontinued operations:
Revenue	$	11,534		$	27,627		$	4,002		$	8,292
Cost of revenue	(7,309		)	(18,667		)	(3,236		)	(7,881		)
Selling, general and administrative	(6,963		)	(15,285		)	(1,759		)	(3,790		)
Depreciation and amortization	—			(1,714		)	—			(584		)
Research and development	(5		)	(64		)	(364		)	(888		)
Gain (loss) on disposal of long-lived assets	97			103			—			(50		)
Impairment of inventory and long-lived assets	—			(36,522		)	—			(3,913		)
Loss from operations	(2,646		)	(44,522		)	(1,357		)	(8,814		)
Other expense	(96		)	(412		)	(52		)	(96		)
Loss on sale of businesses	(1,600		)	(1,199		)	(479		)	—
Loss on write-down of assets held for sale	(6,831		)	(18,971		)	(9,718		)	(6,161		)
Loss before income taxes	(11,173		)	(65,104		)	(11,606		)	(15,071		)
Income tax benefit	4,138			23,661			4,299			5,477
Net loss from discontinued operations	$	(7,035	)	$	(41,443	)	$	(7,307	)	$	(9,594	)

The assets classified as held for sale at December 31, 2017 is as follows (in thousands):

Property and equipment, net	$	4,998
Valuation allowance	—
Assets held for sale, net	$	4,998