Assets Held for Sale and Discontinued Operations

Assets Held for Sale - In September 2013, the Company entered into an agreement to sell the detector tube assets. The transaction closed in January, 2014. In addition to the asset sale agreement, the Company entered into transitional manufacturing and sales agreements with the buyer. Under the terms of the transitional agreements, the Company continued to manufacture and sell detector tubes on behalf of the buyer through August, 2014. The gain on the transaction of approximately $2.3 million will be recognized in 2014, when the buyer assumes ownership of the detector tube assets.

Certain assets related to detector tube manufacturing are classified as held for sale at September 30, 2014. These assets are reported in the following balance sheet lines:



(In millions)	September 30, 2014
Inventory, net of reserve	$	1.8
Property, net of depreciation	0.2
Total assets	2.0

Discontinued Operations - The Company is actively negotiating the sale of substantially all of the assets and liabilities of its South African personal protective equipment distribution business and its Zambian operations. Management has deemed it probable that the sale of these assets and liabilities will close within the next twelve months. The operations of this business qualify as a component of an entity under FASB ASC 205-20 "Presentation of Financial Statements - Discontinued Operations", and thus the operations have been reclassified as discontinued operations and prior periods have been reclassified to conform to this presentation. Management does not believe the assets associated with the South African distribution business or the Zambian operations are impaired at September 30, 2014.

Summarized financial information for discontinued operations is as follows:



	Three Months Ended September 30,					Nine Months Ended September 30,
(In thousands)	2014		2013			2014			2013
Discontinued Operations
Net sales	$	14,645	$	13,361		$	35,294		$	40,550
Other income (loss), net	26		(28		)	54			22
Cost and expenses:
Cost of products sold	12,007		10,570			28,158			31,466
Selling, general and administrative	1,637		1,922			4,796			5,822
Currency exchange losses (gains), net	6		(102		)	(63		)	(303		)
Income from discontinued operations before income taxes	1,021		943			2,457			3,587
Provision for income taxes	256		300			625			1,140
Income from discontinued operations, net of tax	765		643			1,832			2,447

Certain balance sheet items are related to the Company's South African personal protective equipment distribution business and its Zambian operations are reported as discontinued operations. These items are reported in the following balance sheet lines:



(In thousands)	September 30, 2014		December 31, 2013
Discontinued Operations assets and liabilities
Cash and cash equivalents	$	1,538	$	2,980
Trade receivables, less allowance for doubtful accounts	8,162		7,452
Inventories	11,112		11,359
Net property	281		317
Other assets	778		1,326
Total assets	21,871		23,434
Accounts payable	3,965		5,447
Accrued and other liabilities	1,535		930
Total liabilities	5,500		6,377
Net assets	16,371		17,057

The following summary provides financial information for discontinued operations related to net loss (income) related to noncontrolling interests:



	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2014			2013			2014			2013
Net loss (income) attributable to noncontrolling interests
Loss from continuing operations	$	234		$	453		$	543		$	413
(Income) from discontinued operations	(134		)	(129		)	(341		)	(540		)
Net loss (income)	100			324			202			(127		)