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Discontinued Operations
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
On July 20, 2018, the Company agreed to sell to UPL 100% of the then issued and outstanding shares of common stock of Arysta and its subsidiaries pursuant to the terms and conditions of a certain stock purchase agreement, as amended. The Arysta Sale was completed on January 31, 2019 for net cash proceeds of $4.28 billion, after certain post-closing adjustments relating to, among other things, cash, indebtedness and working capital, as finalized with UPL on May 17, 2019.
The Company's former Agricultural Solutions business was previously its own reportable segment and has been presented for all periods as discontinued operations in the Company's Consolidated Financial Statements as the Arysta Sale represented a
significant strategic shift and was determined to have a major effect on the Company's operations and financial results. Corporate costs previously allocated to the Agricultural Solutions segment have been reallocated to the remaining segments for all periods presented as these costs were not clearly identifiable as costs of the Agricultural Solutions segment.
The sale resulted in an overall loss of $448 million as an estimated asset impairment loss of $450 million was recorded in 2018, primarily due to the reclassification of foreign currency translation adjustments from "Accumulated other comprehensive loss" within Stockholders’ Equity into earnings within the Consolidated Statement of Operations.
In connection with the Arysta Sale, the Company agreed to retain certain liabilities associated with legal and tax proceedings, primarily related to an Arysta subsidiary in Brazil. The Company does not expect to incur a material loss as a result of these proceedings. However, the resolutions of these matters may take several years and, to the extent not covered by insurance, may adversely impact our financial position or results of operations.
The following table details the components comprising net income (loss) from the Company's discontinued operations attributable to common stockholders:
 Year Ended December 31,
 (dollars in millions)
2019 (1)
20182017
Net sales$65.3  $1,991.8  1,897.3  
Cost of sales(45.5) (1,190.3) (1,122.1) 
Selling, technical, general and administrative(37.2) (466.4) (531.4) 
Research and development(4.6) (52.4) (52.0) 
Goodwill impairment (2)
—  —  (160.0) 
Gain (loss) on Arysta Sale2.4  (450.0) —  
Operating (loss) profit (19.6) (167.3) 31.8  
Other, net9.0  11.5  (60.4) 
Loss from discontinued operations, before income taxes(10.6) (155.8) (28.6) 
Income tax benefit (expense)23.9  (87.1) (75.2) 
Income (loss) from discontinued operations, net of tax13.3  (242.9) (103.8) 
Net (income) loss from discontinued operations attributable to the non-controlling interests—  (3.0) 1.7  
Net income (loss) from discontinued operations attributable to common stockholders$13.3  $(245.9) $(102.1) 
(1) Includes activity through January 31, 2019, when the Arysta Sale was completed, and certain post-closing adjustments relating to, among other things, cash, indebtedness and working capital as of the closing date.
(2) In 2017, the Company recorded an impairment charge in the former Agricultural Solutions segment of $160 million related to its Agro Business reporting unit. This charge was driven by the impact of a delayed agricultural market recovery, which resulted in lower expectations for future profitability and cash flows as compared to the expectations of the 2016 annual goodwill impairment test.
The following table details supplemental cash flow disclosure information related to Company's discontinued operations:
 Year Ended December 31,
  (dollars in millions)201920182017
Cash paid for interest$—  $5.4  $7.1  
Cash paid for income taxes$25.3  $69.5  $71.1  
The carrying value of major classes of assets and liabilities related to the Company's discontinued operations at December 31, 2019 and 2018 were as follows:
December 31,
  (dollars in millions)20192018
Assets
Cash and cash equivalents$—  $177.8  
Accounts receivable, net—  919.4  
Inventories—  369.1  
Other current assets11.2  155.0  
Current assets of discontinued operations$11.2  $1,621.3  
Property, plant and equipment, net$—  $172.0  
Goodwill—  1,816.9  
Intangible assets, net—  1,797.7  
Other assets (1)
6.5  (374.2) 
Non-current assets of discontinued operations$6.5  $3,412.4  
Liabilities
Accounts payable$—  $365.7  
Current installments of revolving credit facilities—  52.5  
Accrued expenses and other current liabilities34.1  408.6  
Current liabilities of discontinued operations$34.1  $826.8  
Deferred income taxes$—  $369.9  
Other liabilities—  46.3  
Non-current liabilities of discontinued operations$—  $416.2  
(1) Includes the impairment loss of $450 million on discontinued operations at December 31, 2018.