Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

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

15. Discontinued Operations

The Reno Business that the Company committed to sell in July 2014 is presented below as discontinued operations. Historically, the Reno Business was a component of the Company’s Heavy Duty Diesel Systems division. The expense information for discontinued operations also includes an additional $0.3 million accrual recorded during the three and nine months ended September 30, 2014, to increase the Company’s estimated liability to settle its ongoing indemnification matters with JM associated with the sale of AUS in 2009. See Note 13 for additional information.

The following table presents the major classes of the assets and liabilities of discontinued operations held for sale in the consolidated balance sheets as of September 30, 2014 and December 31, 2013.

	September 30, 2014		December 31, 2013
Assets:
Accounts receivable, net	$	430	$	379
Inventories		650		634
Prepaid expenses and other current assets		31		34
Total current assets of discontinued operations held for sale		1,111		1,047
Property and equipment, net		77		87
Intangible assets, net		50		70
Goodwill		286		286
Total long-term assets of discontinued operations held for sale		413		443
Total assets of discontinued operations held for sale	$	1,524	$	1,490
Liabilities:
Accounts payable	$	329	$	283
Accrued expenses and other current liabilities		173		143
Total liabilities of discontinued operations held for sale	$	502	$	426
Net assets of discontinued operations held for sale	$	1,022	$	1,064

In presenting discontinued operations, general corporate overhead expenses that have been allocated historically to the standard exhaust and specialty parts business for segment presentation purposes are not included in discontinued operations. The following table presents revenue and expense information for discontinued operations for the three and nine months ended September 30, 2014 and 2013.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Revenue	$	1,021	$	896	$	2,822	$	2,648
Pre-tax income (loss)		(179)		9		(144)		61
Income tax expense		-		1		-		2
Net income (loss) from discontinued operations	$	(179)	$	8	$	(144)	$	59