HELD FOR SALE AND DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2013

Held for Sale and Discontinued Operations [Abstract]

HELD FOR SALE AND DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

During the fourth quarter of 2012, the Company committed to a plan to sell HemoCue. In February 2013, the Company entered into an agreement to sell HemoCue for approximately $300 million plus estimated cash on hand at closing and other customary working capital adjustments. The Company completed the sale of OralDNA in December 2012. As a result, the Company's fourth quarter 2012 results included charges in discontinued operations for the asset impairment associated with HemoCue and the loss on sale associated with OralDNA totaling $86 million.

Results of operations for HemoCue and NID have been reported as discontinued operations for the three months ended March 31, 2013. Results of operations for HemoCue, OralDNA and NID have been reported as discontinued operations for the three months ended March 31, 2012. At March 31, 2013 and December 31, 2012, the assets and liabilities of HemoCue have been reported as held for sale in the accompanying balance sheets.

Discontinued operations for the first quarter of 2013 includes discrete tax benefits of $19.8 million due to new information resulting in changes in estimates for certain tax contingencies related to NID.

Summarized financial information for the discontinued operations is set forth below:

	Three Months Ended March 31,
	2013		2012
Net revenues	$	24,999	$	27,758
Income from discontinued operations before taxes	991		2,517
Income tax benefit	19,297		478
Income from discontinued operations, net of taxes	$	20,288	$	2,995

The following table summarizes the HemoCue assets and liabilities held for sale in our consolidated balance sheets at March 31, 2013 and December 31, 2012:

	March 31, 2013		December 31, 2012
Assets held for sale:
Cash and cash equivalents	$	26,632	$	17,234
Accounts receivable, net	10,945		14,430
Inventories	5,945		5,388
Deferred income taxes	968		242
Prepaid expenses and other current assets	2,804		2,898
Total current assets held for sale	$	47,294	$	40,192
Property, plant and equipment, net	$	24,969	$	24,782
Goodwill	217,653		218,795
Intangible assets, net	110,170		110,773
Other assets	23		34
Total non-current assets held for sale	$	352,815	$	354,384
Liabilities held for sale:
Accounts payable and accrued expenses	$	18,090	$	21,322
Short-term borrowings and current portion of long-term debt	454		449
Deferred income taxes	234		237
Total current liabilities held for sale	$	18,778	$	22,008
Long-term debt	$	16,109	$	16,221
Other liabilities	44,254		44,579
Total non-current liabilities held for sale	$	60,363	$	60,800

Continuing cash flows from discontinued operations are not expected to be material.

The remaining balance sheet information related to OralDNA and NID was not material at March 31, 2013 and December 31, 2012.