Discontinued Operations

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. Disposed and Discontinued Operations

Management evaluates Dover's businesses periodically for their strategic fit within its operations and may from time to time sell or discontinue certain operations for various reasons.

Disposed Businesses

On February 17, 2016, the company completed the sale of Texas Hydraulics. This disposal did not represent a strategic shift in operations and, therefore, did not qualify for presentation as a discontinued operation. Upon disposal of the business the Company recognized total proceeds of $47,300, which resulted in a gain on sale of $11,228 included within Other income, net within the Condensed Consolidated Statements of Earnings.

Discontinued Operations

The results of discontinued operations for the three and six months ended June 30, 2015 reflect the net earnings of businesses held for sale, Datamax O'Neil and Sargent Aerospace, prior to their respective sale dates. On March 2, 2015, the Company completed the sale of Datamax O'Neil for total proceeds of $185,000, which resulted in a net gain on sale of $87,781. On April 24, 2015, the Company completed the sale of Sargent Aerospace for total proceeds of $500,000, which resulted in a net gain on sale of $177,800.

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

	Three Months Ended June 30,			Six Months Ended June 30,
	2015			2015
Revenue	$	8,374		$	72,869
Gain on sale, net of tax	178,227			265,581
(Loss) earnings from operations before taxes	(272		)	8,708
Provision for income taxes	(1,193		)	(5,207		)
(Loss) earnings from operations, net of tax	(1,465		)	3,501
Earnings from discontinued operations, net of tax	$	176,762		$	269,082

The Company had no assets or liabilities classified as held for sale as of June 30, 2016 and December 31, 2015.