Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2012

Service Experts [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of net trade sales and pre-tax operating losses

A summary of net trade sales and pre-tax operating income (losses) for our Service Experts business is detailed below (in millions):



	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2012			2011		2012			2011
Net trade sales⁽¹⁾	$	98.3		$	120.4	$	292.6		$	346.6
Pre-tax operating (loss) income⁽¹⁾⁽²⁾	(26.8		)	0.1		(42.7		)	(8.3		)


(1)	Excludes eliminations of intercompany sales and any associated profit.


(2)	Pre-tax operating loss for the three and nine months ended September, 30 2012 includes a $20.5 million goodwill impairment loss (see Note 3).

Assets and liabilities of the discontinued operations

The assets and liabilities of the Service Experts business are presented as follows in the accompanying Consolidated Balance Sheets (in millions):



	As of September 30, 2012		As of December 31, 2011
Assets of discontinued operations:
Accounts receivable, net	$	14.5	$	14.4
Inventories, net	6.3		6.3
Deferred income taxes	9.7		10.1
Property, Plant and Equipment	3.7		3.8
Goodwill and intangible assets, net	67.1		83.2
Other assets	7.4		7.7
Liabilities of discontinued operations:
Accounts payable	17.4		16.0
Accrued expenses	41.0		40.1
Deferred income taxes	3.7		3.7
Other Liabilities	0.1		0.2

Hearth [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of net trade sales and pre-tax operating losses

A summary of net trade sales and pre-tax operating losses for our Hearth business is detailed below (in millions):



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Net trade sales	$	—		$	19.8		$	23.5		$	61.1
Pre-tax operating loss ⁽³⁾	(1.2		)	(2.3		)	(13.1		)	(9.7		)
Gain (loss) on sale	2.9			—			(0.9		)	—

(3)

Pre-tax operating loss includes a $6.3 million first quarter 2012 pre-tax charge for the write-down of net assets to their estimated fair value and a $6.3 million settlement charge in the second quarter of 2012 related to actuarial losses recognized upon transition of a pension obligation to the acquirer of the Hearth business (See Note 8). Offsetting these charges was a $3.5 million gain in the second quarter of 2012 related to realized foreign currency translation adjustments.

Assets and liabilities of the discontinued operations

The assets and liabilities of the Hearth business are presented as follows in the accompanying Consolidated Balance Sheets (in millions):



	As of September 30, 2012		As of December 31, 2011
Assets of discontinued operations:
Accounts receivable, net	$	—	$	7.3
Inventories, net	—		12.4
Deferred income taxes	—		9.1
Property, Plant and Equipment	—		5.4
Other assets	—		0.8
Liabilities of discontinued operations:
Accounts payable	—		6.0
Accrued expenses	—		5.2
Other Liabilities	—		0.4

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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