Impairment and Restructuring Charges

9 Months Ended

Sep. 30, 2018

Impairment and Restructuring Charges

Impairment and Restructuring Charges

12.  Impairment and Restructuring Charges

We recorded impairment and restructuring charges of $36.8 million in the three-month and nine-month periods ended September 30, 2018, compared to $2.1 million and $2.4 million in the three-month and nine-month periods ended September 30, 2017, respectively. The 2018 charges mainly related to our decision to downsize one of our energy businesses due to changes in competitive factors for certain of the products they sell. The measurement of these assets at fair value was determined using a combination of discounted cash flow techniques for intangible assets and the market approach for property, plant, and equipment.

The impairment and restructuring charges (credits) consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
	(in millions)
Property, plant and equipment	$	2.3	$	2.8	$	2.3	$	2.8
Intangible assets, net		33.2		—		33.2		—
Total impairment charges		35.5		2.8		35.5		2.8
Restructuring––cost of sales		—		—		—		(0.2)
Restructuring––warehouse, delivery, selling, general and administrative expense		1.3		(0.7)		1.3		(0.2)
Total impairment and restructuring charges	$	36.8	$	2.1	$	36.8	$	2.4