Divestiture-Related Activities (Tables)

12 Months Ended

Dec. 31, 2013

The table below provides information regarding assets held for sale at December 31, 2013 and 2012. At December 31, 2013, these assets consisted of four buildings and other assets, which the Company is actively marketing.

	2013		2012
Assets held for sale:	(Dollars in thousands)
Property, plant and equipment	$	10,428	$	7,963
Total assets held for sale	$	10,428	$	7,963

Operating Results of Operations Treated as Discontinued Operations

The results of the Company’s discontinued operations for the years 2013, 2012 and 2011 were as follows:

	2013			2012			2011
	(Dollars in thousands)
Net revenues	$	—		$	16,616		$	277,972
Costs and other expenses		2,205			18,328			255,919
Goodwill impairment⁽¹⁾		—			9,700			—
Gain on disposition⁽²⁾		—			2,205			270,630
Income (loss) from discontinued operations before income taxes		(2,205	)		(9,207	)		292,683
Taxes (benefit) on income (loss) from discontinued operations		(1,770	)		(1,887	)		87,038
Income (loss) from discontinued operations		(435	)		(7,320	)		205,645
Less: Income from discontinued operations attributable to noncontrolling interest		—			—			617
Income (loss) from discontinued operations attributable to common shareholders	$	(435	)	$	(7,320	)	$	205,028

(1)	During 2012, the Company recognized a non-cash goodwill impairment charge of $9.7 million to adjust the carrying value of the orthopedic business to its estimated fair value.

(2)	The $2.2 million pre-tax gain on disposition during 2012 primarily reflects the gain recognized on the working capital adjustment related to the sale of the cargo systems and cargo container businesses.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details