Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Income From Discontinued Operations, Net of Income Taxes and Balance Sheet Information for Assets and Liabilities Held for Sale

The following table presents the summarized components of income from discontinued operations, net of income taxes, for the Commercial and Industrial Lighting business:

	Three Months Ended March 31,
(in millions)	2022		2021
Net sales	$	29.1	$	122.2
Cost of goods sold	27.7		96.0
Gross profit	1.4		26.2
Selling & administrative expenses	10.7		19.9
Operating (loss) income	(9.3)		6.3
Gain on disposal of business	88.5		—
Other income (expense)	0.2		(0.6)
Income from discontinued operations before income taxes	79.4		5.7
Provision for income taxes	1.7		1.3
Income from discontinued operations, net of taxes	$	77.7	$	4.4

The following table presents the major classes of assets and liabilities classified as held for sale in the Condensed Consolidated Balance Sheet for the year ended December 31, 2021:

(in millions)	December 31, 2021
Cash and cash equivalents	$	0.7
Accounts receivable	83.1
Inventories, net	89.8
Other current assets	5.9
Assets held for sale - current	$	179.5
Property, Plant, and Equipment, net	77.7
Goodwill	50.2
Other intangible assets, net	37.3
Other long-term assets	11.9
Assets held for sale - non-current	$	177.1
Accounts payable	50.2
Accrued salaries, wages and employee benefits	8.5
Accrued insurance	3.9
Other accrued liabilities	28.7
Liabilities held for sale - current	$	91.3
Other Non-Current Liabilities	18.8
Liabilities held for sale - non-current	$	18.8