Divestiture-related activities

3 Months Ended

Mar. 31, 2013

Divestiture-related activities

Note 16 — Divestiture-related activities

When dispositions occur in the normal course of business, gains or losses on the sale of such businesses or assets are recognized in the income statement line item Gain on sales of businesses and assets. There were no gains or losses resulting from the sale of businesses or assets that did not meet the criteria for a discontinued operation during the three month periods ending March 31, 2013 and April 1, 2012.

Discontinued Operations

The Company has recorded $0.8 million of expense and $0.9 million of income during the three months ended March 31, 2013 and April 1, 2012, respectively, associated with retained liabilities related to businesses that have been divested.

On August 26, 2012, the Company completed the sale of the orthopedic business of its OEM Segment to Tecomet for $45.2 million in cash and realized a loss of $39 thousand, net of tax, from the sale of the business.

The following table presents the operating results of the operations that have been treated as discontinued operations for the periods presented:

	Three Months Ended
	March 31, 2013			April 1, 2012
	(Dollars in thousands)
Net revenues	$	—		$	7,190
Costs and other expenses		758			6,261
Income (loss) from discontinued operations before income taxes		(758	)		929
Provision for income taxes		(296	)		324
Income (loss) from discontinued operations	$	(462	)	$	605