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Divestitures and Assets and Liabilities Held for Sale
 6 Months Ended
Jun. 30, 2023
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]  
Divestitures and Assets and Liabilities Held for Sale DIVESTITURES AND ASSETS AND LIABILITIES HELD FOR SALE
Global Traffic Technologies
On April 14, 2023, the Company completed the sale of Global Traffic Technologies for $108.0 million, subject to the finalization of customary working capital adjustments. As a result of the transaction, the Company recognized a preliminary gain of $34.1 million during the three and six months ended June 30, 2023, which is presented in Gain on sale of business in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Loss). There is a transition services agreement (the “TSA”) in place between the Company and Global Traffic Technologies which sets forth the terms and conditions pursuant to which the Company will provide certain services to Global Traffic Technologies. Receipts related to the TSA were insignificant for the three and six months ended June 30, 2023. The operations of Global Traffic Technologies did not meet the criteria to be presented as discontinued operations.
Coats (Hennessy)

During the three months ended July 1, 2022, the Company reached the strategic decision to exit its Coats (Hennessy) business. The Company determined that the associated assets and liabilities met the held for sale accounting criteria and Coats (Hennessy) was classified as Current assets held for sale and Current liabilities held for sale in the Consolidated Condensed Balance Sheets as of June 30, 2023. The operations of Coats (Hennessy) did not meet the criteria to be presented as discontinued operations.

The assets and liabilities were measured at the lower of fair value less costs to sell or the carrying value. The following table summarizes the carrying amounts of major classes of assets and liabilities of Coats (Hennessy) as of June 30, 2023 (in millions):

ASSETS
Accounts receivable, less allowance for credit losses$18.4 
Inventories13.6 
Prepaid expenses and other current assets0.9 
Property, plant and equipment, net4.5 
Operating lease right-of-use assets0.3 
Goodwill15.7 
Other assets0.1 
Total assets held for sale$53.5 
LIABILITIES
Trade accounts payable$15.6 
Current operating lease liabilities0.3 
Accrued expenses and other current liabilities6.7 
Other long-term liabilities6.4 
Total liabilities held for sale$29.0