Discontinued Operations

12 Months Ended

Dec. 31, 2023

NOTE 6. DISCONTINUED OPERATIONS

EMEA AND PACIFIC RIM BUSINESSES

In 2019, we completed the sale of certain subsidiaries comprising our businesses and operations in Europe, the Middle East and Africa (including Russia) (“EMEA”) and the Pacific Rim, including the corresponding businesses and operations conducted by WAVE (collectively, the “Sale”), to Knauf International GmbH (“Knauf”). In 2021, we recorded a pre-tax loss on sale of $0.4 million for final purchase price adjustments related to certain pension liabilities included in the Sale and paid $11.8 million to Knauf related to this purchase price adjustment. In 2022, we recorded a $2.0 million tax benefit related to federal tax statute of limitation closures.

ARMSTRONG FLOORING, INC. (“AFI”)

On April 1, 2016, we completed our separation of AFI by transferring the assets and liabilities related primarily to our Resilient and Wood Flooring segments to AFI and then distributing the common stock of AFI to our shareholders at a ratio of one share of AFI common stock for every two shares of AWI common stock. In 2022, we recorded a $1.0 million tax benefit related to federal tax statute of limitation closures.

Summarized Financial Information of Discontinued Operations

The following tables detail the businesses and line items that comprise discontinued operations on the Consolidated Statements of Earnings and Comprehensive Income.


	EMEA and Pacific Rim Businesses			AFI			Total
2022
Earnings from discontinued businesses before income tax	$	-		$	-		$	-
Income tax benefit		(2.0	)		(1.0	)		(3.0	)
Net earnings from discontinued operations, net of tax	$	2.0		$	1.0		$	3.0

Net earnings from discontinued operations	$	2.0		$	1.0		$	3.0


	EMEA and Pacific Rim Businesses
2021
(Loss) from disposal of discontinued businesses, before income tax	$	(0.4	)
Income tax expense		1.7
(Loss) from disposal of discontinued businesses, net of tax	$	(2.1	)

Net (loss) from discontinued operations	$	(2.1	)