Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations Financial Statement Disclosures

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)		2018		2017
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 Sale	2.4		(450.0)		—
Operating (loss) profit	(19.6)		(167.3)		31.8
Other, net	9.0		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 tax	13.3		(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)	2019		2018		2017
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)	2019		2018
Assets
Cash and cash equivalents	$	—	$	177.8
Accounts receivable, net	—		919.4
Inventories	—		369.1
Other current assets	11.2		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 liabilities	34.1		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.