DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2020

DISCONTINUED OPERATIONS

Schedule Of Assets And Liabilities Transferred As A Part Of Separation

(millions)
Assets:
Cash and cash equivalent	$60.6
Current assets	810.5
Non-current assets	3,222.3
	4,093.4
Liabilities:
Current liabilities	313.0
Non-current liabilities	293.7
	606.7
Net assets distributed to ChampionX	$(3,486.7)
Fair value of shares exchanged	1,051.4
Cash received from ChampionX	527.4
Consideration received less net assets	(1,907.9)
ChampionX cumulative translation adjustment ("CTA") write-off	(229.9)
Loss on separation	$(2,137.8)

Summary of discontinued operations

	Second Quarter Ended				Six Months Ended
	June 30				June 30
(millions)	2020		2019		2020		2019
Product and equipment sales		$352.9		$532.1		$858.9		$1,058.6
Service and lease sales		44.8		58.1		99.6		112.3
Net sales		397.7		590.2		958.5		1,170.9
Product and equipment cost of sales		270.5		383.7		621.7		753.2
Service and lease cost of sales		34.9		44.1		80.4		88.8
Cost of sales (including special charges)		305.4		427.8		702.1		842.0
Selling, general and administrative expenses		74.0		102.7		180.5		214.8
Special (gains) and charges		2,185.2		25.6		2,221.7		26.4
Operating (loss) income		(2,166.9)		34.1		(2,145.8)		87.7
Other (income) expense		0.1		-		0.3		-
Interest expense (income), net		0.3		0.1		0.2		0.3
(Loss) income before income taxes		(2,167.3)		34.0		(2,146.3)		87.4
Provision for income taxes		(3.1)		9.1		24.0		17.7
Net (loss) income including noncontrolling interest		(2,164.2)		24.9		(2,170.3)		69.7
Net (loss) income attributable to noncontrolling interest		(0.3)		(0.3)		2.2		(0.4)
Net (loss) income from discontinued operations, net of tax		$(2,163.9)		$25.2		$(2,172.5)		$70.1

	December 31
(millions)	2019
ASSETS
Current assets
Cash and cash equivalents		$67.6
Accounts receivable, net		414.5
Inventories		424.0
Other current assets		44.7
Total current assets		950.8
Property, plant and equipment, net		726.6
Goodwill		1,682.6
Other intangible assets, net		745.0
Operating lease assets		110.8
Other assets		67.8
Total assets		$4,283.6
LIABILITIES AND EQUITY
Current liabilities
Short-term debt		$0.1
Accounts payable		209.0
Compensation and benefits		33.8
Income taxes		5.9
Other current liabilities		112.7
Total current liabilities		361.5
Long-term debt		0.4
Postretirement health care and pension benefits		3.6
Deferred income taxes		203.1
Operating lease liabilities		79.2
Other liabilities		15.8
Total liabilities		$663.6