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DISCONTINUED OPERATIONS (Tables)
6 Months Ended
Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
Details of Income from Discontinued Operations are as follows (in millions):

 Three Months Ended
June 30,
Six Months Ended
June 30,
 2024202320242023
Net sales$246.4 $234.7 $497.7 $456.6 
Cost of sales91.2 86.1 180.5 176.6 
Gross profit155.2 148.6 317.2 280.0 
Selling, general, and administrative expenses57.7 58.3 114.6 112.6 
Research and development expenses30.6 26.6 58.0 53.0 
Separation costs79.7 — 121.0 — 
Operating (loss) income, net(12.8)63.7 23.6 114.4 
Other expense (income), net1.1 0.3 1.4 (0.1)
(Loss) income from discontinued operations before provision for income taxes(13.9)63.4 22.2 114.5 
(Benefit from) provision for income taxes from discontinued operations(12.5)12.1 (0.7)24.9 
Net (loss) income from discontinued operations(1.4)51.3 22.9 89.6 
Details of assets and liabilities of discontinued operations are as follows (in millions):

 June 30,
2024
December 31,
2023
Cash and cash equivalents$9.2 $7.9 
Accounts receivable, net of allowances4.9 3.6 
Other receivables4.1 5.2 
Inventories261.9 249.9 
Prepaid expenses17.9 18.0 
Other current assets6.8 14.4 
Total current assets of discontinued operations$304.8 $299.0 
Property, plant, and equipment, net158.6 156.6 
Operating lease right-of-use assets 14.2 9.6 
Goodwill 101.0 101.0 
Other intangible assets, net27.3 29.0 
Deferred income taxes5.2 5.2 
Other assets0.3 0.6 
Total non-current assets of discontinued operations$306.6 $302.0 
Accounts payable$13.3 $14.8 
Accrued and other liabilities90.9 110.9 
Operating lease liabilities3.0 2.0 
Total current liabilities of discontinued operations$107.2 $127.7 
Operating lease liabilities 11.4 7.8 
Uncertain tax positions4.3 4.3 
Other liabilities14.3 13.0 
Total non-current liabilities of discontinued operations$30.0 $25.1 

Cash flows attributable to the Company's discontinued operations are included in the Company's consolidated condensed statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in millions):

 Six Months Ended
June 30,
 20242023
Depreciation and amortization11.7 11.2 
Stock-based compensation11.9 7.8 
Inventory write off6.7 3.5 
Capital expenditures11.4 13.4