XML 75 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
Other Assets
12 Months Ended
Dec. 31, 2014
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]  
Other Assets

Note 9 - Other assets:

 

December 31,

 

 

2013

 

 

2014

 

 

(In thousands)

 

Restricted cash

$

1,687

 

 

$

1,420

 

Assets held for sale

 

532

 

 

 

590

 

Pension asset

 

364

 

 

 

-

 

Other

 

124

 

 

 

133

 

 

 

 

 

 

 

 

 

Total

$

2,707

 

 

$

2,143

 

 Prior to 2013, our assets held for sale consisted of two facilities (land, building and building improvements) and certain unimproved land, all of which were formerly used in CompX’s operations.  These assets were classified as “assets held for sale” when they ceased to be used in our operations and met all of the applicable criteria under U.S. GAAP.  During 2012, we obtained updated independent appraisals of the significant assets.  Based on these appraisals, we recognized a write-down in the third quarter of $.4 million to reduce the carrying value of the assets to their estimated fair value less cost to sell.  Subsequently, we sold one of the facilities in December 2012 for net proceeds of $3.6 million, which net proceeds were less than the carrying amount of the assets and we therefore recognized a loss on the sale of the facility of approximately $.8 million in 2012.  In 2013, we sold the remaining facility for net proceeds of $1.6 million, which approximated the carrying value of the assets as of the date of the sale.  At December 31, 2013 and 2014, our assets held for sale consisted only of the unimproved land.  

The write-down on the asset held for sale in 2012 and loss on the sale of the facility are included in loss from operations.