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v3.23.3

Divestitures, Discontinued Operations and Assets and Liabilities Held for Sale (Tables) | 9 Months Ended
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Sep. 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (Dollars in Millions) |
Total revenues |  | $ | 27.2 |  |  | $ | 62.4 |  |  | $ | 86.4 |  |  | $ | 268.8 |
Pretax earnings (loss) from discontinued operations |  | $ | 3.9 |  |  | $ | 4.7 |  |  | $ | (14.6 | ) |  | $ | 21.1 |
Pretax (loss) gain on divestitures and sales of assets |  |  | (21.9 | ) |  |  | 0.7 |  |  |  | (19.6 | ) |  |  | (0.3 | )
Pretax (loss) earnings |  |  | (18.0 | ) |  |  | 5.4 |  |  |  | (34.2 | ) |  |  | 20.8 |
Income tax (benefit) expense |  |  | (4.4 | ) |  |  | 1.3 |  |  |  | (8.4 | ) |  |  | 6.5 |
(Loss) Earnings from discontinued operations, net of income tax (benefit) expense |  | $ | (13.6 | ) |  | $ | 4.1 |  |  | $ | (25.8 | ) |  | $ | 14.3 |
Assets and liabilities held for sale are as follows:
|  | September 30, 2023 |  |  | December 31, 2022 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |  |  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |
|  | (Dollars in Millions) |
Inventories, net |  | $ | — |  |  | $ | 25.8 |  |  | $ | 25.8 |  |  | $ | — |  |  | $ | 31.3 |  |  | $ | 31.3 |
Investment land |  |  | 19.4 |  |  |  | — |  |  |  | 19.4 |  |  |  | 40.6 |  |  |  | — |  |  |  | 40.6 |
Other assets |  |  | — |  |  |  | 0.6 |  |  |  | 0.6 |  |  |  | — |  |  |  | 1.3 |  |  |  | 1.3 |
Total current assets held for sale |  | $ | 19.4 |  |  | $ | 26.4 |  |  | $ | 45.8 |  |  | $ | 40.6 |  |  | $ | 32.6 |  |  | $ | 73.2 |
Property, plant and equipment |  | $ | — |  |  | $ | 87.2 |  |  | $ | 87.2 |  |  | $ | — |  |  | $ | 124.5 |  |  | $ | 124.5 |
Intangible assets, excluding goodwill |  |  | — |  |  |  | 208.5 |  |  |  | 208.5 |  |  |  | — |  |  |  | 208.5 |  |  |  | 208.5 |
Operating lease right-of-use assets |  |  | — |  |  |  | 6.1 |  |  |  | 6.1 |  |  |  | — |  |  |  | 12.1 |  |  |  | 12.1 |
Goodwill |  |  | — |  |  |  | 31.9 |  |  |  | 31.9 |  |  |  | — |  |  |  | 31.9 |  |  |  | 31.9 |
Valuation allowance for loss on sale |  |  | — |  |  |  | (26.4 | ) |  |  | (26.4 | ) |  |  | — |  |  |  | (4.5 | ) |  |  | (4.5 | )
Total noncurrent assets held for sale |  | $ | — |  |  | $ | 307.3 |  |  | $ | 307.3 |  |  | $ | — |  |  | $ | 372.5 |  |  | $ | 372.5 |
Lease obligations |  | $ | — |  |  | $ | (1.3 | ) |  | $ | (1.3 | ) |  | $ | — |  |  | $ | (4.5 | ) |  | $ | (4.5 | )
Total current liabilities held for sale |  | $ | — |  |  | $ | (1.3 | ) |  | $ | (1.3 | ) |  | $ | — |  |  | $ | (4.5 | ) |  | $ | (4.5 | )
Lease obligations |  | $ | — |  |  | $ | (2.5 | ) |  | $ | (2.5 | ) |  | $ | — |  |  | $ | (4.1 | ) |  | $ | (4.1 | )
Asset retirement obligations |  |  | — |  |  |  | (17.6 | ) |  |  | (17.6 | ) |  |  | — |  |  |  | (17.7 | ) |  |  | (17.7 | )
Total noncurrent liabilities held for sale |  | $ | — |  |  | $ | (20.1 | ) |  | $ | (20.1 | ) |  | $ | — |  |  | $ | (21.8 | ) |  | $ | (21.8 | )

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