Discontinued Operations

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On February 29, 2016, the Company sold 100% of the stock associated with its South African personal protective equipment distribution business and its Zambian operations. The Company received $15.9 million from the closing of this transaction and recorded a loss of approximately $0.3 million. 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.

Summarized financial information for discontinued operations is as follows:

	Three Months Ended March 31,
(In thousands)	2016			2015
Discontinued Operations
Net sales	$	5,261		$	11,157
Other (loss) income, net	(288		)	66
Cost and expenses:
Cost of products sold	4,819			8,990
Selling, general and administrative	937			1,602
Currency exchange losses, net	18			170
(Loss) income from discontinued operations before income taxes	(801		)	461
Provision for income taxes	328			153
(Loss) income from discontinued operations, net of tax	$	(1,129	)	$	308

Certain balance sheet items that 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 consolidated balance sheet lines:

(In thousands)	March 31, 2016		December 31, 2015
Discontinued Operations assets and liabilities
Trade receivables, less allowance for doubtful accounts	$	—	$	4,832
Inventories	—		8,499
Net property	—		449
Other assets	—		791
Total assets	—		14,571
Accounts payable	—		2,745
Accrued and other liabilities	—		748
Total liabilities	—		3,493
Net assets	$	—	$	11,078

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

	Three Months Ended March 31,
(In thousands)	2016			2015
Net (income) loss attributable to noncontrolling interests
(Income) loss from continuing operations	$	(519	)	$	174
Loss from discontinued operations	197			58
Net (income) loss	$	(322	)	$	232