Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations [Abstract]

Summary of Results 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			Flooring Businesses			Total
2019
Net sales	$	319.1		$	-		$	319.1
Cost of goods sold		245.7			-			245.7
Gross profit		73.4			-			73.4
Selling, general and administrative expenses		61.6			-			61.6
Operating income		11.8			-			11.8
Other non-operating expense, net		1.6			-			1.6
Earnings from discontinued operations before income tax		10.2			-			10.2
Income tax expense		12.0			-			12.0
Net (loss) from discontinued operations, net of tax	$	(1.8	)	$	-		$	(1.8	)
(Loss) from disposal of discontinued businesses, before income tax	$	(31.2	)	$	-		$	(31.2	)
Income tax (benefit)		-			(5.2	)		(5.2	)
(Loss) gain from disposal of discontinued businesses, net of tax	$	(31.2	)	$	5.2		$	(26.0	)
Net (loss) earnings from discontinued operations	$	(33.0	)	$	5.2		$	(27.8	)

	EMEA and Pacific Rim Businesses			Flooring Businesses			Total
2018
Net sales	$	446.1		$	-		$	446.1
Cost of goods sold		341.4			-			341.4
Gross profit		104.7			-			104.7
Selling, general and administrative expenses		85.8			-			85.8
Operating income		18.9			-			18.9
Interest expense		1.4			-			1.4
Other non-operating (income), net		(0.3	)		-			(0.3	)
Earnings from discontinued operations before income tax		17.8			-			17.8
Income tax expense		8.2			-			8.2
Net earnings from discontinued operations, net of tax	$	9.6		$	-		$	9.6
(Loss) from disposal of discontinued businesses, before income tax	$	(19.3	)	$	-		$	(19.3	)
Income tax (benefit)		-			(6.0	)		(6.0	)
(Loss) gain from disposal of discontinued businesses, net of tax	$	(19.3	)	$	6.0		$	(13.3	)
Net (loss) earnings from discontinued operations	$	(9.7	)	$	6.0		$	(3.7	)

	EMEA and Pacific Rim Businesses			Flooring Businesses			Total
2017
Net sales	$	436.2		$	-		$	436.2
Cost of goods sold		350.8			-			350.8
Gross profit		85.4			-			85.4
Selling, general and administrative expenses		78.3			-			78.3
Operating income		7.1			-			7.1
Interest expense		1.2			-			1.2
Other non-operating (income), net		(1.9	)		-			(1.9	)
Earnings from discontinued operations before income tax		7.8			-			7.8
Income tax expense		3.6			-			3.6
Net earnings from discontinued operations, net of tax	$	4.2		$	-		$	4.2
(Loss) from disposal of discontinued businesses, before income tax	$	(109.2	)	$	(0.1	)	$	(109.3	)
Income tax (benefit)		-			(4.1	)		(4.1	)
(Loss) gain from disposal of discontinued businesses, net of tax	$	(109.2	)	$	4.0		$	(105.2	)
Net (loss) earnings from discontinued operations	$	(105.0	)	$	4.0		$	(101.0	)

The following is a summary of the carrying amount of the major classes of assets and liabilities classified as assets and liabilities of discontinued operations as of December 31, 2018 related to our former EMEA and Pacific Rim businesses.

	December 31, 2018
Assets
Current assets:
Cash and cash equivalents	$	10.0
Accounts and notes receivable, net		56.2
Inventories, net		59.8
Income tax receivable		1.8
Other current assets		8.2
Total current assets discontinued operations		136.0
Property, plant, and equipment, less accumulated depreciation and amortization (1) (2)		68.6
Prepaid pension costs (1)		28.9
Goodwill and intangible assets, net (1)		6.8
Deferred income taxes (1)		3.0
Other non-current assets (1)		1.0
Total non-current assets of discontinued operations (1)		108.3
Total assets of discontinued operations (1)	$	244.3
Liabilities
Current liabilities:
Accounts payable and accrued expenses	$	67.1
Income tax payable		1.1
Total current liabilities		68.2
Pension benefit liabilities (3)		33.8
Other long-term liabilities (3)		1.8
Income taxes payable (3)		-
Deferred income taxes (3)		6.5
Total non-current liabilities of discontinued operations (3)		42.1
Total liabilities of discontinued operations (3)	$	110.3

(1) Presented as Assets of discontinued operations on the Consolidated Balance Sheets.

(2) Includes pre-tax estimated losses of $128.5 million.

(3) Presented as Liabilities of discontinued operations on the Consolidated Balance Sheets.

Summary of Total Depreciation and Amortization, Estimated Losses, Capital Expenditures and Operating Lease

The following is a summary of total depreciation and amortization, estimated losses, capital expenditures and operating lease information related to our former EMEA and Pacific Rim businesses which are presented as discontinued operations and included as components of operating and investing cash flows on our Consolidated Statements of Cash Flows:

	2019			2018			2017
Depreciation and amortization	$	-		$	-		$	22.2
Estimated loss on sale to Knauf (1)		31.2			19.3			109.2
Purchases of property, plant and equipment		(3.0	)		(7.3	)		(12.0	)
Operating lease cost (2)		7.4			-			-
ROU assets obtained in exchange for lease obligations (3)		24.6			-			-

(1) Loss on sale for the years ended December 31, 2018 and 2017 represents the comparison of the EMEA and Pacific Rim net assets to the expected sales proceeds.

(2) We do not believe the amount of cash paid for amounts included in the measurement of lease liabilities to be materially different from the operating lease cost for the nine months ended September 30, 2019.

(3) Represents initial ROU assets recognized upon adoption on January 1, 2019. We did not obtain any new ROU assets in exchange for lease obligations during the nine months ended September 30, 2019.