Discontinued Operations (Notes)

12 Months Ended

Jan. 31, 2018

Note 5 - Discontinued operations

The domestic fabric filter business, which was included in discontinued operations, sold product until operations ceased in the second quarter of 2016. The Filtration business segment is 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. For the year ended January 31, 2017, tax expense was $1.0 million, and income from discontinued operations net of tax was $0.7 million.

Results of the discontinued operations were as follows:



(In thousands)	2017		2016
Net sales		$—		$10,467

Gain on disposal of discontinued operations	—		209
Income from discontinued operations	—		1,522
Income from discontinued operations before income taxes	—		1,731
Income tax expense	—		1,043
Income from discontinued operations, net of tax		$—		$688

Components of assets and liabilities from discontinued operations consist of the following:



	January 31,
(In thousands)	2018		2017
Current assets
Trade accounts receivable, net		$—		$25
Total assets from discontinued operations		$—		$25

Current liabilities
Trade accounts payable, accrued expenses and other		$137		$199
Total liabilities from discontinued operations		$137		$199

Cash flows from discontinued operations:



	January 31,
(In thousands)	2018			2017
Net cash (used in) provided by discontinued operating activities		($37	)		$1,133
Net cash provided by discontinued investing activities	—			9,606
Net cash used in discontinued financing activities	—			(10,739		)