Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2017

Disposal Groups, Including Discontinued Operations [Table Text Block]

Operating results of discontinued operations are summarized below:

	Three months ended
In millions	March 31, 2017			March 31, 2016
Net sales	$	356.5		$	387.0
Cost of goods sold	267.9			282.8
Gross profit	88.6			104.2
Selling, general and administrative	79.5			81.5
Research and development	4.2			4.8
Operating income	$	4.9		$	17.9
Income from discontinued operations before income taxes	$	5.7		$	18.2
Income tax (benefit) provision	(1.4		)	2.6
Income from discontinued operations, net of tax	$	7.1		$	15.6

The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Condensed Consolidated Balance Sheets were as follows:

In millions	March 31, 2017		December 31, 2016
Accounts and notes receivable, net	$	359.3	$	365.4
Inventories	477.6		491.5
Other current assets	40.9		35.0
Current assets held for sale	$	877.8	$	891.9
Property, plant and equipment, net	$	373.2	$	361.5
Goodwill	996.4		996.4
Intangibles, net	706.1		703.5
Asbestos-related insurance receivable	107.4		108.5
Other non-current assets	128.8		123.0
Non-current assets held for sale	$	2,311.9	$	2,292.9
Accounts payable	$	120.1	$	151.4
Employee compensation and benefits	59.6		61.5
Other current liabilities	123.3		143.3
Current liabilities held for sale	$	303.0	$	356.2
Pension and other post-retirement compensation and benefits	$	29.4	$	32.2
Deferred tax liabilities	171.3		162.8
Asbestos-related liabilities	224.6		228.3
Other non-current liabilities	81.4		82.6
Non-current liabilities held for sale	$	506.7	$	505.9