Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2017

Disposal Groups, Including Discontinued Operations

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	June 30, 2017		December 31, 2016
Accounts and notes receivable, net	$	—	$	365.4
Inventories	—		491.5
Other current assets	—		35.0
Current assets held for sale	$	—	$	891.9
Property, plant and equipment, net	$	—	$	361.5
Goodwill	—		996.4
Intangibles, net	—		703.5
Asbestos-related insurance receivable	—		108.5
Other non-current assets	—		123.0
Non-current assets held for sale	$	—	$	2,292.9
Accounts payable	$	—	$	151.4
Employee compensation and benefits	—		61.5
Other current liabilities	—		143.3
Current liabilities held for sale	$	—	$	356.2
Pension and other post-retirement compensation and benefits	$	—	$	32.2
Deferred tax liabilities	—		162.8
Asbestos-related liabilities	—		228.3
Other non-current liabilities	—		82.6
Non-current liabilities held for sale	$	—	$	505.9

esults of discontinued operations are summarized below:

	Three months ended					Six months ended
In millions	June 30, 2017			June 30, 2016		June 30, 2017		June 30, 2016
Net sales	$	93.8		$	433.6	$	450.3	$	820.6
Cost of goods sold	71.8			316.3		339.7		599.1
Gross profit	22.0			117.3		110.6		221.5
Selling, general and administrative	23.8			98.8		103.3		180.3
Research and development	1.5			5.1		5.7		9.9
Operating (loss) income	$	(3.3	)	$	13.4	$	1.6	$	31.3
(Loss) income from discontinued operations before income taxes	$	(3.2	)	$	13.3	$	2.5	$	31.5
Provision for income taxes	2.0			3.2		0.6		5.8
(Loss) income from discontinued operations, net of tax	$	(5.2	)	$	10.1	$	1.9	$	25.7
Gain from sale of discontinued operations before income taxes	$	203.0		$	—	$	203.0	$	—
Provision for income taxes	2.4			—		2.4		—
Gain from sale of discontinued operations, net of tax	$	200.6		$	—	$	200.6	$	—