Sale of Equity Affiliate

9 Months Ended

Jun. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Sale of Equity Affiliate

SALE OF EQUITY AFFILIATE

In December 2015, we sold our investment in our equity affiliate, Daido Air Products Electronics, Inc., for $15.9 million, which resulted in a before-tax gain of $0.7 million for the three months ending December 31, 2015. The carrying value at the time of sale included a $12.8 million investment in net assets of and advances to equity affiliates and a $2.4 million foreign currency translation loss that had been deferred in accumulated other comprehensive loss. In addition, the income tax provision, before the valuation allowance, for the three months ending December 31, 2015 included an expense of $5.3 million as a result of the sale.