Discontinued operations (Tables)

9 Months Ended

Oct. 31, 2013

Discontinued operations

Discontinued Operations [Text Block]

Discontinued operations. On April 30, 2013, the Company sold most of the domestic assets of its subsidiary Thermal Care, Inc. to a subsidiary of IPEG, Inc. for $15 million cash and a deferred payment of $1.1 million, which is held in escrow until May 1, 2014 and included in other assets on the balance sheet. On June 26, 2013, the Company sold substantially all of the assets of the HVAC business previously included in Corporate and Other. In October 2013, the Company decided to sell its remaining industrial process business. These businesses are reported as discontinued operations in the consolidated financial statements and the notes to consolidated financial statements have been revised to conform to the current year reporting. The January 31, 2013 Balance Sheet has been revised to reflect the separate amounts for assets and liabilities that were sold. Results of the discontinued operations for the three and nine months ended October 31,2013 and 2012 were as follows:

	Three Months Ended October 31,					Nine Months Ended October 31,
	2013			2012		2013			2012
Net sales		$874			$11,089		$13,049			$31,177
Gain on disposal of discontinued operations		$—			$—		$11,665			$—
(Loss) income from discontinued operations	(211		)	415		(288		)	891
(Loss) income from discontinued operations before income taxes	(211		)	415		11,377			891
Income tax (benefit) expense	(789		)	89		1,867			59
Income from discontinued operations, net of tax		$578			$326		$9,510			$832