Equity Investment

3 Months Ended

Mar. 31, 2019

Equity Method Investments And Joint Ventures [Abstract]

Equity Investment

NOTE 8. EQUITY INVESTMENT

Investment in joint venture reflects our 50% equity interest in WAVE.  The WAVE joint venture is reflected within the Mineral Fiber segment in our consolidated financial statements using the equity method of accounting. On November 17, 2017, in connection with the Purchase Agreement we entered into with Knauf, the corresponding European and Pacific Rim businesses of WAVE will also be subject to sale to Knauf.  Accordingly, WAVE’s European and Pacific Rim historical financial statement results have been reflected in WAVE’s consolidated financial statements as a discontinued operation for all periods presented. Condensed income statement data for WAVE is summarized below.   

	Three Months Ended
	March 31,
	2019		2018
Net sales	$	96.9	$	87.7
Gross profit		52.6		47.8
Net earnings		40.2		35.6