|
Assets Held for Sale and Discontinued Operations (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Carrying Value of Assets and Liabilities Classified as Held for Sale |
The carrying
value of the assets and liabilities of TFI that are classified as
held for sale in the accompanying Consolidated Balance Sheets at
December 31, 2013 and 2012 are as follows:
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$ |
429 |
|
|
$ |
1,435 |
|
|
Accounts receivable,
net
|
|
|
15,620 |
|
|
|
13,901 |
|
|
Inventories, net
|
|
|
2,328 |
|
|
|
1,938 |
|
|
Prepaid expenses and other
receivables
|
|
|
2,475 |
|
|
|
1,971 |
|
|
Other current
assets
|
|
|
594 |
|
|
|
1,079 |
|
|
|
|
|
|
|
|
|
|
|
Total current assets held
for sale
|
|
|
21,446 |
|
|
|
20,324 |
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
|
26,369 |
|
|
|
25,848 |
|
|
Intangible assets,
net
|
|
|
92,935 |
|
|
|
110,822 |
|
|
Goodwill
|
|
|
48,000 |
|
|
|
139,915 |
|
|
|
|
|
|
|
|
|
|
|
Total long-term assets held
for sale
|
|
|
167,304 |
|
|
|
276,585 |
|
|
|
|
|
|
|
|
|
|
|
Total assets held for
sale
|
|
$ |
188,750 |
|
|
$ |
296,909 |
|
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
6,625 |
|
|
$ |
6,137 |
|
|
Accrued expenses
|
|
|
2,676 |
|
|
|
3,719 |
|
|
Current portion of
contingent consideration
|
|
|
— |
|
|
|
400 |
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
of discontinued operations
|
|
|
9,301 |
|
|
|
10,256 |
|
|
|
|
|
|
|
|
|
|
|
Long-term liabilities of
discontinued operations—deferred income taxes
|
|
|
32,389 |
|
|
|
40,596 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities of
discontinued operations
|
|
$ |
41,690 |
|
|
$ |
50,852 |
|
|
|
|
|
|
|
|
|
|
|
Net assets held for
sale
|
|
$ |
147,060 |
|
|
$ |
246,057 |
|
|
|
|
|
|
|
|
|
|
|
|
TFI
|
|
| Final Allocations of Aggregate Purchase Price |
The allocation
of the aggregate purchase price, which was revised in the three
months ended March 31, 2013 to reflect the final valuation, is
summarized as follows:
|
|
|
|
|
|
Accounts
receivable
|
|
$ |
13,808 |
|
|
Inventory
|
|
|
3,456 |
|
|
Other assets
|
|
|
1,431 |
|
|
Property, plant and
equipment
|
|
|
23,685 |
|
|
Customer
relationships
|
|
|
93,200 |
|
|
Vendor
relationships
|
|
|
16,300 |
|
|
Other
intangibles
|
|
|
1,400 |
|
|
Goodwill
|
|
|
145,031 |
|
|
Accounts payable and
accrued liabilities
|
|
|
(13,045 |
) |
|
Deferred income tax
liabilities, net
|
|
|
(39,261 |
) |
|
|
|
|
|
|
Total
|
|
$ |
246,005 |
|
|
|
|
|
|
|
| Carrying Value of Assets and Liabilities Classified as Held for Sale |
The following
table details selected financial information of discontinued
operations related to TFI since its acquisition on April 10,
2012:
|
|
|
|
|
|
|
|
|
| |
|
Year Ended December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
Revenue
|
|
$ |
116,263 |
|
|
$ |
95,312 |
|
|
|
|
|
|
|
|
|
|
|
Pretax (loss) income from
operations
|
|
|
(98,237 |
) |
|
|
13,279 |
|
|
Income tax
expense
|
|
|
(14 |
) |
|
|
(4,155 |
) |
|
|
|
|
|
|
|
|
|
|
(Loss) income from
discontinued operations
|
|
$ |
(98,251 |
) |
|
$ |
9,124 |
|
|
|
|
|
|
|
|
|
|
|
|
China Water
|
|
| Carrying Value of Assets and Liabilities Classified as Held for Sale |
Selected
financial information of the discontinued operations of China Water
for the year ended December 31, 2011 is as follows:
|
|
|
|
|
|
Revenue
|
|
$ |
20,560 |
|
|
|
|
|
|
|
Pretax loss from
operations
|
|
|
(4,881 |
) |
|
Income tax
expense
|
|
|
(100 |
) |
|
|
|
|
|
|
Loss from
operations
|
|
|
(4,981 |
) |
|
Loss from disposal,
net
|
|
|
(17,917 |
) |
|
|
|
|
|
|
Loss from discontinued
operations
|
|
$ |
(22,898 |
) |
|
|
|
|
|
|