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Discontinued Operations
 9 Months Ended
Jun. 30, 2013
Discontinued Operations [Abstract]  
Discontinued Operations

3.       DISCONTINUED OPERATIONS

In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for total sale proceeds of €590 million ($777) and recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share). For additional information on this transaction, refer to Note 3, Discontinued Operations, in our 2012 Form 10-K.

We are actively marketing the remaining portion of the Homecare business, which is primarily in the United Kingdom and Ireland. We expect to close on the sale of this business by the end of fiscal year 2013. In the third quarter of 2012, an impairment charge of $33.5 ($29.5 after-tax, or $.14 per share) was recorded to write down the remaining business to its estimated net realizable value. Additional charges may be recorded in future periods dependent upon the timing and method of ultimate disposition.

The Homecare business, which had been previously reported as part of the Merchant Gases business segment, has been accounted for as a discontinued operation. The results of operations and cash flows of this business have been reclassified from the results of continuing operations for all periods presented. The assets and liabilities of discontinued operations have been reclassified and are segregated in the consolidated balance sheets.

 

The results of discontinued operations are summarized below: 
    Three Months Ended  Nine Months Ended  
    30 June  30 June  
   2013  2012  20132012  
 Sales$ 12.7 $ 45.0 $ 40.0 $ 242.0  
                
 Income before taxes$ .5 $ 10.2 $ 3.3 $ 66.3  
 Income tax provision  (.1)   3.7   .2   20.6  
 Income from operations of discontinued operations  .6   6.5   3.1   45.7  
 Gain on sale of business and impairment/write-down, net of tax  -   120.8   -   120.8  
 Income from Discontinued Operations, net of tax$ .6 $ 127.3 $ 3.1 $ 166.5  

         
Assets and liabilities of discontinued operations consist of the following: 
   30 June 30 September 
   2013 2012 
 Trade receivables, net$ 7.8 $ 15.0  
 Inventories   .3   .5  
 Other current assets  .3   .1  
 Total Current Assets$ 8.4 $ 15.6  
         
 Plant and equipment, net$ 19.4 $ 27.2  
 Total Noncurrent Assets$ 19.4 $ 27.2  
         
 Payables and accrued liabilities$ 3.1 $ 6.0  
 Total Current Liabilities$ 3.1 $ 6.0  
         
 Other noncurrent liabilities$ - $ .2  
 Total Noncurrent Liabilities$ - $ .2