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Discontinued Operations
 3 Months Ended
Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
 
On February 1, 2022, the Company completed the sale of the C&I Lighting business to GE Current, a Daintree Company, for total net cash consideration of $332.8 million. We have concluded the divestiture met the criteria set forth in ASC 205-20 to be presented as a discontinued operation in our Condensed Consolidated Financial Statements for all periods presented. The C&I Lighting business was previously included in the Electrical Solutions segment.

Under the terms of the transaction, Hubbell and the buyer entered into a transition services agreement ("TSA"), pursuant to which the Company provides certain administrative and operational services for a period of 12 months or less. Furthermore, we entered into a short-term supply agreement whereby the Company acts as a supplier of finished goods and component parts to the C&I Lighting business after the completion of the sale. Income from the TSA and supply agreement was $0.1 million and $2.8 million for the three months ended March 31, 2023 and 2022, respectively and was recorded in Other Income in the Condensed Consolidated Financial Statements. The TSA and short-term supply agreement were effectively completed as of March 31, 2023.

The following table presents the summarized components of income from discontinued operations, net of income taxes, for the C&I Lighting business:
 Three Months Ended March 31,
(in millions)20232022
Net sales$— $29.1 
Cost of goods sold— 27.7 
Gross profit— 1.4 
Selling & administrative expenses— 10.7 
Operating (loss) income— (9.3)
Gain on disposal of business— 88.5 
Other expense— 0.2 
Income from discontinued operations before income taxes— 79.4 
Provision for income taxes— 1.7 
Income from discontinued operations, net of taxes$— $77.7 

Income from discontinued operations, net of taxes for the three month ended March 31, 2023 and 2022 includes pre-tax transaction and separation costs of $0.0 million and $2.1 million and pre-tax gain on the disposal of $0.0 million and $88.5 million, respectively.