DISPOSITIONS AND SPECIAL GAINS AND CHARGES

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

DISPOSITIONS AND SPECIAL GAINS AND CHARGES

The Company's discontinued operations include the results of the France business sold in August 2018, the SARL Businesses sold in March 2017 and the NATG business sold in December 2015 (see Note 1).

For the years ended December 31, 2020, 2019 and 2018, special charges (gains) included in discontinued operations were $1.4 million income, $0.0 million and $178.3 million income, respectively.

For the year ended December 31, 2020, the Company's NATG discontinued operations recorded approximately $1.9 million in restitution receipts offset by approximately $0.5 million of professional fees.

On August 31, 2018, the Company closed on the sale of its France-based IT value added reseller business. The Company recorded a pre-tax book gain on the sale of the France business, of approximately $178.9 million for the year ended December 31, 2018.

For the year ended December 31, 2018, the Company's NATG discontinued operations recorded special charges of approximately $0.6 million. The Company recorded lease reserve adjustments related to its previously exited leased facilities for the discontinued NATG business of approximately $1.7 million and additional legal and professional fees of $0.1 million for ongoing restitution proceedings. Offsetting these expenses were approximately $1.0 million in restitution receipts and $0.2 million in vendor settlement receipts from the discontinued NATG business.

The Company has completed the wind-down activities related to the sale of the France business, but may incur additional charges related to statutory tax and other indemnities given at closing. The Company has substantially completed the wind-down activities related to the NATG business, although certain NATG activities related to sublet facilities, settling accounts payable and other contingent liabilities continue. The Company expects that total additional exit charges related to discontinued operations after this quarter may aggregate up to $0.5 million.

Results of discontinued operations for the years ended December 31, 2020, 2019 and 2018 are as follows:


	Year Ended December 31,
	2020		2019		2018
Net sales	$	0.0	$	0.0	$	352.0
Cost of sales	0.0		0.0		295.8
Gross profit	0.0		0.0		56.2
Selling, distribution and administrative expenses	(0.4)		2.1		36.5
Pre-tax book gain on sale of France business	0.0		0.0		(178.9)
Special (gains) charges, net	(1.4)		0.0		0.6
Operating income (loss) from discontinued operations	1.8		(2.1)		198.0
Foreign currency exchange income	0.0		0.0		(0.2)

Income (loss) of discontinued operations before income taxes	1.8		(2.1)		198.2
Provision (benefit) for income taxes	0.5		(0.6)		23.0
Net income (loss) from discontinued operations	$	1.3	$	(1.5)	$	175.2
Net income (loss) per share - basic	$	0.03	$	(0.04)	$	4.69
Net income (loss) per share - diluted	$	0.03	$	(0.04)	$	4.62

The Company has not incurred any special charges in 2020 in continuing operations. In the third quarter of 2019, within continuing operations, the Company's former German branch recorded special gains of approximately $0.8 million related to a buyout for its outstanding lease obligation. The Company recorded special charges of $0.8 million in 2018, within continuing operations, related to updating lease reserves adjustments related to its discontinued NATG outstanding business lease obligations.

The following table details liabilities related to the exit costs of the sold businesses that remain for 2020 (in millions):


	Accrued exit costs
Balance January 1, 2020	$	2.8
Charged to expense	0.4
Paid or otherwise settled	(0.4)
Balance December 31, 2020	$	2.8

The following table details liabilities related to the exit costs of the sold businesses for 2019 (in millions):


	Accrued exit costs
Balance, January 1, 2019	$	2.8
Charged to expense	0.7
Paid or otherwise settled	(0.7)
Balance, December 31, 2019	$	2.8