Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

Note 24. Subsequent Events

The company has evaluated subsequent events since December 31, 2016, the date of these financial statements.  We believe there were no material events or transactions discovered during this evaluation that requires recognition or disclosure in the financial statements other than the items discussed below.

Divestiture.  On January 14, 2017, the company completed the sale of a non-core mix manufacturing business located in Cedar Rapids, Iowa for $44.0 million, subject to finalizing a working capital adjustment.  This resulted in a preliminary gain on sale in the range of $31.0 million to $33.0 million, which will be recognized in the first quarter of fiscal 2017.  

Dividend.    On February 17, 2017, the Board of Directors declared a dividend of $0.16 per share on the company’s common stock to be paid on March 17, 2017 to shareholders of record on March 3, 2017.