Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Note 3 — DISCONTINUED OPERATIONS

On May 30, 2013, PolyOne sold its vinyl dispersion, blending and suspension resin assets (Resin Business) to Mexichem Specialty Resins Inc. (Mexichem) for $250.0 million cash consideration. This sale resulted in the recognition of a pre-tax gain of $223.7 million ($139.7 million, net of tax) that was primarily recognized during the second quarter of 2013.

The table below summarizes results for the Resin Business for the three and nine months ended September 30, 2014 and 2013, which are reflected in our Condensed Consolidated Statements of Income as a discontinued operation.

	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions)	2014		2013			2014		2013*
Sales	$	—	$	—		$	—	$	55.3
Gain on sale	—		0.1			—		223.7
Income from operations	—		—			—		12.2
Income before taxes	—		0.1			—		235.9
Income tax benefit (expense)	0.4		(0.3		)	1.2		(89.7		)
Income (loss) from discontinued operations, net of income taxes	$	0.4	$	(0.2	)	$	1.2	$	146.2

* Includes the Resin Business' operating results through May 29, 2013.