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Discontinued Operations
 9 Months Ended
Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations DISCONTINUED OPERATIONS
For the three and nine months ended 30 June 2018, income from discontinued operations, net of tax, on the consolidated income statements was $43.2 and $42.2, respectively. During the third quarter of fiscal year 2018, we recorded an income tax benefit of $29.6 primarily resulting from the resolution of uncertain tax positions taken in conjunction with the disposition of our former European Homecare business in fiscal year 2012. In addition, we recorded a before-tax benefit of $13.6 primarily resulting from the resolution of certain post-closing adjustments associated with the sale of our former Performance Materials Division (PMD). Refer to Note 19, Income Taxes, for additional information. The nine months ended 30 June 2018 also includes an after-tax loss of $1.0 related to Energy-from-Waste (EfW) project exit activities and administrative costs incurred during the first quarter of fiscal year 2018.
For the three months ended 30 June 2017, the loss from discontinued operations, net of tax, on the consolidated income statements was $2.3. The loss primarily relates to EfW project exit activities and administrative costs.
For the nine months ended 30 June 2017, income from discontinued operations, net of tax, on the consolidated income statements was $1,871.5. The year-to-date income includes a gain of $2,870 ($1,833 after-tax, or $8.34 per share) recognized on the sale of PMD to Evonik Industries AG (Evonik). The sale closed on 3 January 2017 for $3.8 billion in cash. In addition, we recorded a loss on the disposal of EfW of $59.3 ($47.1 after-tax) during the first quarter of 2017, primarily for land lease obligations and to update our estimate of the net realizable value of the plant assets. The loss on disposal was recorded as a component of discontinued operations while the liability associated with land lease obligations was and continues to be recorded in continuing operations. The liability recorded in continuing operations was approximately $64 as of 30 June 2018.
The following table details income (loss) from discontinued operations, net of tax, on the consolidated income statements for the nine months ended 30 June 2017:
 
 
 
 
 
Nine Months Ended
 
30 June 2017
 
 
 
Total
 
Performance
Energy-
Discontinued
 
Materials
from-Waste
Operations
Sales

$254.8


$—


$254.8

Cost of sales
182.3

11.9

194.2

Selling and administrative
22.5

.5

23.0

Research and development
5.1

—

5.1

Other income (expense), net
.3

(.9
)
(.6
)
Operating Income (Loss)
45.2

(13.3
)
31.9

Equity affiliates’ income
.3

—

.3

Income (Loss) Before Taxes
45.5

(13.3
)
32.2

Income tax benefit(A)
(50.8
)
(3.1
)
(53.9
)
Income (Loss) From Operations of Discontinued Operations, net of tax
96.3

(10.2
)
86.1

Gain (Loss) on Disposal, net of tax
1,832.5

(47.1
)
1,785.4

Income (Loss) From Discontinued Operations, net of tax

$1,928.8


($57.3
)

$1,871.5


(A) 
As a result of the expected gain on the sale of PMD, we released valuation allowances related to capital loss and net operating loss carryforwards during the first quarter of 2017 that favorably impacted our income tax provision within discontinued operations by approximately $66.

There were no assets or liabilities presented in discontinued operations on the consolidated balance sheets as of 30 June 2018. As of 30 September 2017, current assets of discontinued operations of $10.2 related to EfW and current liabilities of discontinued operations of $15.7 primarily related to reserves associated with the disposition of PMD.