Discontinued Operations

6 Months Ended

Jun. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

9. Discontinued Operations

Management evaluates Dover’s businesses periodically for their strategic fit within Dover’s operations. Accordingly, the Company decided to sell certain businesses within its Engineered Systems segment. Paladin Brands and Crenlo LLC, two businesses that serve construction related end markets, were sold during the third quarter of 2011 and Heil Trailer International, a manufacturer of specialty transportation trailers and equipment, was sold during the fourth quarter of 2011.

In connection with these disposals, for all periods presented, the Company has reclassified the results of these businesses into discontinued operations in the Unaudited Condensed Consolidated Statements of Comprehensive Earnings.

Summarized results of the Company’s discontinued operations are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Revenue	$	—		$	164,162		$	—		$	313,383
Gain on sale, net of taxes	$	1,860		$	—		$	1,860		$	—
Earnings (loss) from operations before taxes	$	(326	)	$	13,766		$	(1,112	)	$	26,304
(Provision) benefit for income taxes	(335		)	(3,195		)	(313		)	4,381
Earnings from discontinued operations, net of tax	$	1,199		$	10,571		$	435		$	30,685

The gain on sale, net of taxes for both the three and six months ended June 30, 2012 reflects adjustments to sale proceeds of businesses sold in prior years. The earnings from operations before taxes for both the three and six months ended June 30, 2011 reflects the net earnings generated by the three businesses sold in 2011, coupled with other expense and accrual adjustments.

Assets and liabilities of discontinued operations are summarized below:

	June 30, 2012		December 31, 2011
Assets of Discontinued Operations
Current assets	$	2,731	$	2,832
Non-current assets	297		1,609
	$	3,028	$	4,441
Liabilities of Discontinued Operations
Current liabilities	$	8,467	$	31,592
Non-current liabilities	88,087		88,325
	$	96,554	$	119,917

At June 30, 2012 and December 31, 2011,the assets and liabilities of discontinued operations consist primarily of tax-related accruals and unrecognized benefits, as well as other accruals for compensation, legal, environmental and warranty contingencies, none of which are individually significant.