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v3.23.2

Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables) | 6 Months Ended
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Jun. 30, 2023
Business Combinations [Abstract] |
Summary of Discontinued Operations and Assets and Liabilities Held for Sale | Financial results for the Company's discontinued operations are as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (Dollars in Millions) |
Total revenues |  | $ | 34.5 |  |  | $ | 111.7 |  |  | $ | 59.2 |  |  | $ | 206.4 |
Pretax (loss) earnings from operations |  | $ | (1.4 | ) |  | $ | 20.5 |  |  | $ | (18.5 | ) |  | $ | 16.4 |
Pretax gain (loss) on divestiture and sales of assets |  |  | 2.3 |  |  |  | (1.0 | ) |  |  | 2.3 |  |  |  | (1.0 | )
Pretax earnings (loss) |  |  | 0.9 |  |  |  | 19.5 |  |  |  | (16.2 | ) |  |  | 15.4 |
Income tax expense (benefit) |  |  | 0.2 |  |  |  | 6.2 |  |  |  | (4.0 | ) |  |  | 5.2 |
Earnings (loss) from discontinued operations, net of income tax expense (benefit) |  | $ | 0.7 |  |  | $ | 13.3 |  |  | $ | (12.2 | ) |  | $ | 10.2 |
Assets and liabilities held for sale are as follows:
|  | June 30, 2023 |  |  | December 31, 2022 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |  |  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |
|  | (Dollars in Millions) |
Inventories, net |  | $ | — |  |  | $ | 26.0 |  |  | $ | 26.0 |  |  | $ | — |  |  | $ | 31.3 |  |  | $ | 31.3 |
Investment land |  |  | 18.6 |  |  |  | — |  |  |  | 18.6 |  |  |  | 40.6 |  |  |  | — |  |  |  | 40.6 |
Other assets |  |  | — |  |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | 1.3 |  |  |  | 1.3 |
Total current assets held for sale |  | $ | 18.6 |  |  | $ | 26.2 |  |  | $ | 44.8 |  |  | $ | 40.6 |  |  | $ | 32.6 |  |  | $ | 73.2 |
Property, plant and equipment |  | $ | — |  |  | $ | 86.8 |  |  | $ | 86.8 |  |  | $ | — |  |  | $ | 124.5 |  |  | $ | 124.5 |
Intangible assets, excluding goodwill |  |  | — |  |  |  | 208.5 |  |  |  | 208.5 |  |  |  | — |  |  |  | 208.5 |  |  |  | 208.5 |
Operating lease right-of-use assets |  |  | — |  |  |  | 2.9 |  |  |  | 2.9 |  |  |  | — |  |  |  | 12.1 |  |  |  | 12.1 |
Goodwill |  |  | — |  |  |  | 31.9 |  |  |  | 31.9 |  |  |  | — |  |  |  | 31.9 |  |  |  | 31.9 |
Valuation allowance for loss on sale |  |  | — |  |  |  | (4.5 | ) |  |  | (4.5 | ) |  |  | — |  |  |  | (4.5 | ) |  |  | (4.5 | )
Total noncurrent assets held for sale |  | $ | — |  |  | $ | 325.6 |  |  | $ | 325.6 |  |  | $ | — |  |  | $ | 372.5 |  |  | $ | 372.5 |
Lease obligations |  | $ | — |  |  | $ | (0.9 | ) |  | $ | (0.9 | ) |  | $ | — |  |  | $ | (4.5 | ) |  | $ | (4.5 | )
Total current liabilities held for sale |  | $ | — |  |  | $ | (0.9 | ) |  | $ | (0.9 | ) |  | $ | — |  |  | $ | (4.5 | ) |  | $ | (4.5 | )
Lease obligations |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (4.1 | ) |  | $ | (4.1 | )
Asset retirement obligations |  |  | — |  |  |  | (17.5 | ) |  |  | (17.5 | ) |  |  | — |  |  |  | (17.7 | ) |  |  | (17.7 | )
Total noncurrent liabilities held for sale |  | $ | — |  |  | $ | (17.5 | ) |  | $ | (17.5 | ) |  | $ | — |  |  | $ | (21.8 | ) |  | $ | (21.8 | )

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