Divestitures (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

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

	Year Ended December 31, 2016
Net sales	$	813,285
Cost of goods sold	416,934
Operating expenses, net(a)	268,402
Interest and financing expenses(b)	38,227
Other income, net	(2,485		)
Gain on sale of discontinued operations	(387,980		)
Income before income taxes	480,187
Income tax expense(c)	278,056
Income from discontinued operations (net of tax)	$	202,131

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

(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.

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

	Year Ended December 31, 2016
Depreciation and amortization	$	35,194
Capital expenditures	$	19,281

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):

	December 31, 2017
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