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DISCONTINUED OPERATIONS (Tables) | 9 Months Ended
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Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations | Details of Income from Discontinued Operations are as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net sales | $ | 15.9 |  |  | $ | 177.2 |  |  | $ | 49.2 |  |  | $ | 708.4 |
Cost of sales | 9.2 |  |  | 65.4 |  |  | 29.1 |  |  | 265.1 |
Gross profit | 6.7 |  |  | 111.8 |  |  | 20.1 |  |  | 443.3 |
Selling, general, and administrative expenses | 5.9 |  |  | 40.9 |  |  | 16.9 |  |  | 163.2 |
Research and development expenses | 1.4 |  |  | 21.4 |  |  | 3.9 |  |  | 81.3 |
Separation costs | 1.9 |  |  | 81.5 |  |  | 12.4 |  |  | 202.5 |
Operating loss, net | (2.5) |  |  | (32.0) |  |  | (13.1) |  |  | (3.7) |
Other non-operating (income) expense, net | — |  |  | (3,338.9) |  |  | 3.2 |  |  | (3,337.5) |
(Loss) income from discontinued operations before provision for income taxes | (2.5) |  |  | 3,306.9 |  |  | (16.3) |  |  | 3,333.8 |
(Benefit) provision from income taxes from discontinued operations | (0.5) |  |  | 599.6 |  |  | (2.7) |  |  | 599.4 |
(Loss) income from discontinued operations, net of tax | $ | (2.0) |  |  | $ | 2,707.3 |  |  | $ | (13.6) |  |  | $ | 2,734.4 |
Details of assets and liabilities of discontinued operations are as follows (in millions):
| September 30, 2025 |  | December 31, 2024
Cash and cash equivalents | $ | 7.5 |  |  | $ | 9.6 |
Accounts receivable, net of allowances | 10.8 |  |  | — |
Inventories | 13.3 |  |  | 15.1 |
Prepaid expenses | 3.0 |  |  | 2.1 |
Total current assets of discontinued operations | $ | 34.6 |  |  | $ | 26.8 |
Property, plant, and equipment, net | $ | 6.8 |  |  | $ | 3.4 |
Operating lease right-of-use assets | 0.5 |  |  | — |
Goodwill | 7.5 |  |  | 7.4 |
Total non-current assets of discontinued operations | $ | 14.8 |  |  | $ | 10.8 |
Accrued and other liabilities | $ | 2.0 |  |  | $ | 2.0 |
Operating lease liabilities | 0.3 |  |  | — |
Total current liabilities of discontinued operations | $ | 2.3 |  |  | $ | 2.0 |
Operating lease liabilities | 0.2 |  |  | — |
Total non-current liabilities of discontinued operations | $ | 0.2 |  |  | $ | — |
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):
|  |  | Nine Months Ended September 30,
|  |  |  |  | 2025 |  | 2024
Depreciation and amortization |  |  |  |  | $ | — |  |  | $ | 12.1 |
Stock-based compensation |  |  |  |  | $ | 0.2 |  |  | $ | 16.7 |
Inventory reserves and write offs |  |  |  |  | $ | — |  |  | $ | 8.2 |
Capital expenditures |  |  |  |  | $ | 3.5 |  |  | $ | 16.4 |

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