2. Acquisitions and Disposals

As part of our business strategy, Blueprint 2021, the Company has started the process to sell its Tire Shredder business, its crane builder business, Crane Equipment and Service Inc., and Stahlhammer Bommern GmbH, its European forging business acquired in 2014 (the "Held for Sale Businesses") as they are no longer considered part of the core business or a strategic fit with the Company's long-term growth and operational objectives. The Company is actively pursuing the sale of the Held for Sale Businesses and expects the sale of each business to occur in fiscal 2019. As such, the three businesses met the criteria as being held for sale as of June 30, 2018 in accordance with Accounting Standards Codification (“ASC”) 360-10-45-9, "Property, Plant, and Equipment." The businesses are not deemed significant to be considered discontinued operations.

When businesses or assets groups meet the criteria as held for sale, they are recorded at the lesser of their carrying value or fair value less cost to sell. As a result, the Company recorded an impairment loss in the amount of $11,100,000 presented as Held for sale impairment on the Condensed Consolidated Statements of Operations and Retained Earnings during the three months ended June 30, 2018 to reduce the carrying value of these asset groups to their fair values less estimated costs to sell. The amount of the loss was determined based on the fair value calculation described in Note 4. The Company will update the analysis each reporting period as additional information becomes available. Additionally, net sales and pre-tax income (loss) for the combined Held for Sale Businesses was $11,104,000 and $8,426,000 and $660,000 and ($59,000) for the three months ended June 30, 2018 and June 30, 2017, respectively.

The following table represents the carrying amounts of the businesses classified as held for sale before impairment (in thousands):



	June 30, 2018
ASSETS:	(unaudited)
Current assets:
Cash and cash equivalents	$	66
Trade accounts receivable	1,706
Inventories	11,209
Prepaid expenses and other	182
Total current assets	13,163
Property, plant, and equipment, net	14,594
Goodwill	7,443
Other intangibles, net	1,915
Deferred taxes on income	211
Total assets	$	37,326

LIABILITIES AND SHAREHOLDER'S EQUITY:
Current liabilities:
Trade accounts payable	$	1,259
Accrued liabilities	2,125
Total current liabilities	3,384
Other non current liabilities	1,713
Total liabilities	5,097
Total shareholder's equity	32,229
Total liabilities and shareholder's equity	$	37,326