Divestitures (Tables)

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale at December 31, 2017, are as follows (in thousands):

Assets
Current assets	$	39,152
Net property, plant and equipment	121,759
Goodwill	14,422
Other intangibles, net of amortization	3,632
Assets held for sale	$	178,965
Liabilities
Current liabilities	$	1,938
Noncurrent liabilities	614
Liabilities held for sale	$	2,552

Depreciation and amortization and capital expenditures from discontinued operationsfor the years ended December 31, 2016 and 2015 were as follows (in thousands):

	Year Ended December 31,
	2016		2015
Depreciation and amortization	$	35,194	$	78,903
Capital expenditures	$	19,281	$	23,738

The major components of Income from discontinued operations (net of tax) for the years ended December 31, 2016 and 2015 were as follows (in thousands):

	Year Ended December 31,
	2016			2015
Net sales	$	813,285		$	824,906
Cost of goods sold	416,934			488,267
Operating expenses, net(a)	268,402			239,316
Interest and financing expenses(b)	38,227			51,072
Other income, net	(2,485		)	(4,214		)
Gain on sale of discontinued operations	(387,980		)	—
Income before income taxes	480,187			50,465
Income tax expense(c)	278,056			17,989
Income from discontinued operations (net of tax)	$	202,131		$	32,476

(a) Operating expenses, net for discontinued operations includes mark-to market actuarial (losses) gains of ($8.5) million and $8.9 million during the years ended December 31, 2016 and 2015, respectively.

(b) Interest and financing expenses included the allocation of interest expense not directly attributable to other operations as well as interest expense related to debt to be assumed by the buyer. The allocation of interest expense to discontinued operations was based on the ratio of net assets held for sale to the sum of total net assets plus consolidated debt.

(c) Income tax expense for the year ended December 31, 2016 included a charge of $253.0 million related to the gain on sale of discontinued operations.