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Discontinued Operations
3 Months Ended
Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
The Arysta Sale was completed on January 31, 2019 for net cash proceeds of $4.28 billion, after certain post-closing adjustments relating to, among other things, cash, indebtedness and working capital, as finalized with UPL on May 17, 2019.
In connection with the Arysta Sale, the Company agreed to retain certain liabilities associated with legal and tax proceedings, primarily related to an Arysta subsidiary in Brazil. The Company does not expect to incur any material losses as a result of these proceedings. However, the resolutions of these matters may take several years and, to the extent not covered by insurance, may adversely impact the Company's financial position or results of operations. The Company may record an additional gain or loss in the future as it settles certain remaining tax assets and liabilities associated with the Arysta Sale.
The following table details the components comprising net income from the Company's discontinued operations attributable to common stockholders:
 Three Months Ended March 31,
 (dollars in millions)2020
2019 (1)
Net sales$—  $65.3  
Cost of sales—  (45.5) 
Selling, technical, general and administrative—  (36.6) 
Research and development—  (4.6) 
Gain on Arysta Sale—  21.3  
Operating loss—  (0.1) 
Other, net(0.7) 9.3  
(Loss) income from discontinued operations, before income taxes(0.7) 9.2  
Income tax benefit 0.9  18.2  
Income from discontinued operations, net of tax0.2  27.4  
Net income from discontinued operations attributable to the non-controlling interests—  (0.1) 
Net income from discontinued operations attributable to common stockholders$0.2  $27.3  
(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.
The carrying value of major classes of assets and liabilities related to the Company's discontinued operations were as follows:
March 31,December 31,
 (dollars in millions)20202019
Assets
Other current assets$9.2  

$11.2  
Other assets6.6  6.5  
Liabilities
Accrued expenses and other current liabilities17.3  34.1