Discontinued Operations

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued operations

Discontinued Operations

During certain prior years, the Company ceased operations in certain geographic markets due to declines in residential home building throughout the U.S. and other strategic reasons. The Company will have no further significant continuing involvement in sold operations and exited geographic markets. The cessation of operations in these markets has been treated as discontinued operations as the markets had distinguishable cash flows and operations that have been eliminated from ongoing operations. To determine if cash flows have been (or will be) eliminated from ongoing operations, we evaluate a number of qualitative and quantitative factors, including, but not limited to, proximity of a closing store to any remaining open stores and the potential sales migration from the closed store to any stores remaining open.

The operating results of the discontinued operations for the three months endedMarch 31,2014 and 2013 are as follows:

	Three Months Ended March 31,
(in thousands)	2014			2013
Net sales	$	—		$	—
Restructuring charges	(5		)	(9		)
Gain before income taxes	35			266
Income tax expense	(14		)	(109		)
Net income	21			157

The assets and liabilities of discontinued operations reflected on the consolidated balance sheets at March 31, 2014 and December 31, 2013 are as follows:

(in thousands)	March 31,    2014		December 31,    2013
Real estate held for sale	$	652	$	700
Prepaid expenses and other current assets	26		8
Current assets of discontinued operations	678		708
Accrued expenses and other liabilities	76		37
Restructuring reserve	300		295
Current liabilities of discontinued operations	376		332
Long-term restructuring reserve	12		89
Noncurrent liabilities of discontinued operations	$	12	$	89