Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On March 20, 2018, the Company completed the sale of CFS to The Jordan Company of New York, NY for gross proceeds of $758.0 million, including a working capital adjustment, which was finalized in the third quarter of 2018.

A summary of the results from discontinued operations included in the Consolidated Statements of Income follows:

(in millions)	2020		2019		2018
Revenue	$	—	$	—	$	69.5
Cost of goods sold	—		—		49.5
Other operating expense, net	—		—		16.7
Operating income	—		—		3.3
Other non-operating expense, net	5.4		1.8		—
(Loss) income from discontinued operations before income taxes	(5.4)		(1.8)		3.3
Gain on sale of discontinued operations	—		—		296.8
(Benefit from) provision for income taxes	(1.3)		(0.9)		47.6
(Loss) income from discontinued operations	$	(4.1)	$	(0.9)	$	252.5

A summary of cash flows from discontinued operations included in the Consolidated Statements of Cash Flows follows:

(in millions)	2018
Net cash used in operating activities	$	(2.0)
Net cash used in investing activities	(8.1)
Net cash provided by financing activities (1)	11.4
Change in cash and cash equivalents from discontinued operations	$	1.3

(1)Represents borrowings from the Carlisle cash pool to fund capital expenditures and acquisitions.