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Transactions	9 Months Ended
Sep. 30, 2020
Transactions [Abstract]
Transactions	15 15. Transactions On January 31, 2020, the Company completed the sale of its held-for-sale business at year-end 2019 which was primarily in the United States segment selling cutting tools to the aerospace and automotive markets. Subject to customary purchase price adjustments as defined in the transaction agreement, the sale resulted in a loss of less than $1 million for the nine months ended on September 30, 2020 and was included in impairment charges in the consolidated statements of operations. During the three months ended September 30, 2020, as a result of strategic review of its assets, the Company decided to commit to a plan to divest a business that sells lighting solutions locally in the United Kingdom. The business did not qualify to be a discontinued operation as it did not represent a strategic shift that would have a major effect on the Company’s operations and financial results. As of September 30, 2020, the Company classified the business’s assets and liabilities as held-for-sale. The carrying value of the net assets held-for-sale was compared to the estimated fair value resulting in an impairment of less than $1 million which was included in impairment charges in the consolidated statements of operations and the remaining $4 million of assets and $1 million of liabilities were classified as held-for-sale in the consolidated balance sheets. Subsequent to quarter end, in October 2020, the Company entered into a definitive agreement and sold the business, subject to customary post-closing working capital and other transaction price adjustments as defined in the transaction agreement.

Transactions

9 Months Ended

Sep. 30, 2020

15. Transactions

On January 31, 2020, the Company completed the sale of its held-for-sale business at year-end 2019 which was primarily in the United States segment selling cutting tools to the aerospace and automotive markets. Subject to customary purchase price adjustments as defined in the transaction agreement, the sale resulted in a loss of less than $1 million for the nine months ended on September 30, 2020 and was included in impairment charges in the consolidated statements of operations.

During the three months ended September 30, 2020, as a result of strategic review of its assets, the Company decided to commit to a plan to divest a business that sells lighting solutions locally in the United Kingdom. The business did not qualify to be a discontinued operation as it did not represent a strategic shift that would have a major effect on the Company’s operations and financial results. As of September 30, 2020, the Company classified the business’s assets and liabilities as held-for-sale. The carrying value of the net assets held-for-sale was compared to the estimated fair value resulting in an impairment of less than $1 million which was included in impairment charges in the consolidated statements of operations and the remaining $4 million of assets and $1 million of liabilities were classified as held-for-sale in the consolidated balance sheets. Subsequent to quarter end, in October 2020, the Company entered into a definitive agreement and sold the business, subject to customary post-closing working capital and other transaction price adjustments as defined in the transaction agreement.