ASSETS AND LIABILITIES HELD FOR SALE

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

ASSETS AND LIABILITIES HELD FOR SALE

ASSETS AND LIABILITIES HELD FOR SALE

During the first quarter of 2018, the Company received regulatory approval to sell Donhad, its grinding media business in Australia, which is reported in the Other segment. The grinding media business had pre-tax income/(loss) of ($579) and $2,086 for the thirteen weeks ended March 31, 2018 and April 1, 2017, respectively. The business is being sold because it does not fit the long-term strategic plans for the Company. The Company expects the sale to close during the second quarter of 2018. The expected proceeds from the sale are greater than its carrying value as of March 31, 2018. The grinding media business historical annual sales, operating profit, and net assets did not meet the quantitative thresholds for discontinued operations presentation. The carrying value of the assets and liabilities are separately presented within the captions "Assets held for sale" and "Liabilities held for sale" in the Condensed Consolidated Balance Sheet.

The assets and liabilities of the grinding media business as of March 31, 2018 are as follows:

Receivables, net	$	9,978
Inventories	16,155
Net property, plant, and equipment	14,013
Goodwill and intangible assets	27,607
Other assets	4,912
Total assets	$	72,665
Accounts payable	$	9,201
Accrued expenses	1,536
Deferred income taxes	2,223
Total liabilities	$	12,960
Net assets	59,705