DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table summarizes the major line items constituting pretax income of discontinued operations associated with the Distribution business segment for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2022		2021		2022		2021
Sales	$	398.6	$	401.8	$	1,211.6	$	1,108.9
Cost of sales	355.4		362.0		1,085.9		989.6
Selling and administrative expense	18.2		13.9		44.9		41.6
Other (expense) income	(0.9)		(0.2)		(1.0)		(0.3)
Income before income taxes	24.1		25.7		79.8		77.4
Income tax expense	(7.0)		(6.5)		(21.0)		(19.7)
Income from discontinued operations, net of taxes	$	17.1	19.2		58.8		57.7

The following table summarizes the major classes of assets and liabilities of the Distribution business that were classified as held for sale in the consolidated balance sheets as of September 30, 2022 and December 31, 2021:

(In millions)	September 30, 2022		December 31, 2021
Assets held-for-sale:
Accounts receivable, net	$	211.9	$	202.4
Inventories, net	132.4		155.3
Property, net	3.5		3.9
Goodwill	1.6		1.6
Other assets	18.4		19.0
Total assets held-for-sale	$	367.8	$	382.2
Liabilities held-for-sale:
Accounts payable	$	145.3	$	124.4
Other liabilities	25.0		30.0
Total liabilities held-for-sale	$	170.3	$	154.4
	September 30, 2022		December 31, 2021
Assets held-for-sale:
Current	$	367.8	$	360.2
Non-current	$	—	$	22.0
Liabilities held-for-sale:
Current	$	170.3	$	141.3
Non-current	$	—	$	13.1