Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Financial Results and Major Classes of Assets and Liabilities from Discontinued Operations

Financial results from discontinued operations:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2021		2020		2021		2020
Net sales	$	60.3	$	48.3	$	173.3	$	132.9
Cost of sales	47.2		35.2		137.0		101.1
Selling, general and administrative	6.5		4.1		15.6		13.5
Restructuring charges	—		—		—		0.6
Income from discontinued operations	$	6.6	$	9.0	$	20.7	$	17.7
Income tax provision (benefit) 1	1.4		1.8		(17.1)		3.8
Income from discontinued operations, net of tax	$	5.2	$	7.2	$	37.8	$	13.9
1 The nine-month period ended September 30, 2021 includes $21.5 million of deferred tax benefit associated with the pending disposition of the Engineered Materials segment.

Major classes of assets and liabilities to be transferred in the transaction:

(in millions)	September 30, 2021		December 31, 2020
Assets:
Accounts receivable, net	$	18.2	$	8.8
Inventories, net	9.1		8.5
Other current assets	0.2		0.1
Property, plant and equipment, net	26.7		26.8
Other assets	0.3		0.6
Intangible assets, net	1.2		1.2
Goodwill	171.3		171.3
Assets held for sale	$	227.0	$	217.3
Liabilities:
Accounts payable	$	23.8	$	19.5
Accrued liabilities	10.6		7.9
Long-term deferred tax liability	4.6		26.1
Other liabilities	0.1		0.1
Liabilities held for sale	$	39.1	$	53.6