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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Activity of Discontinued Operations | A summary of the results from discontinued operations included in the Consolidated Statements of Income follows:
|  | 2020
(in millions) |  | CBF |  | Other |  | Total
Revenue |  | $ | 275.3 |  |  | $ | — |  |  | $ | 275.3 |
Cost of goods sold |  | 230.3 |  |  | — |  |  | 230.3 |
Operating expense, net(1) |  | 49.2 |  |  | 5.4 |  |  | 54.6 |
Operating income |  | (4.2) |  |  | (5.4) |  |  | (9.6) |
Non-operating (income) expense, net(1) |  | (1.3) |  |  | — |  |  | (1.3) |
Loss from discontinued operations before income taxes |  | (2.9) |  |  | (5.4) |  |  | (8.3) |
Benefit from income taxes |  | (1.4) |  |  | (1.3) |  |  | (2.7) |
Loss from discontinued operations |  | $ | (1.5) |  |  | $ | (4.1) |  |  | $ | (5.6) |
(1)Includes items that are presented separately on the Condensed Consolidated Statements of Income.
|  | 2019
(in millions) |  | CBF |  | Other |  | Total
Revenue |  | $ | 327.0 |  |  | $ | — |  |  | $ | 327.0 |
Cost of goods sold |  | 261.4 |  |  | — |  |  | 261.4 |
Operating expense, net(1) |  | 45.5 |  |  | 1.8 |  |  | 47.3 |
Operating income |  | 20.1 |  |  | (1.8) |  |  | 18.3 |
Non-operating (income) expense, net(1) |  | (0.1) |  |  | — |  |  | (0.1) |
Income (loss) from discontinued operations before income taxes |  | 20.2 |  |  | (1.8) |  |  | 18.4 |
Provision for (benefit from) income taxes |  | 4.3 |  |  | (0.9) |  |  | 3.4 |
Income (loss) from discontinued operations |  | $ | 15.9 |  |  | $ | (0.9) |  |  | $ | 15.0 |
(1)Includes items that are presented separately on the Condensed Consolidated Statements of Income.
|  | 2018
(in millions) |  | CBF |  | CFS |  | Total
Revenue |  | $ | 373.8 |  |  | $ | 69.5 |  |  | $ | 443.3 |
Cost of goods sold |  | 322.4 |  |  | 49.5 |  |  | 371.9 |
Operating expense, net(1) |  | 52.4 |  |  | 16.7 |  |  | 69.1 |
Operating (loss) income |  | (1.0) |  |  | 3.3 |  |  | 2.3 |
Non-operating (income) expense, net(1) |  | — |  |  | — |  |  | — |
(Loss) income from discontinued operations before income taxes |  | (1.0) |  |  | 3.3 |  |  | 2.3 |
Gain on sale of discontinued operations |  | — |  |  | 296.8 |  |  | 296.8 |
(Benefit from) provision for income taxes |  | (1.3) |  |  | 47.6 |  |  | 46.3 |
Income from discontinued operations |  | $ | 0.3 |  |  | $ | 252.5 |  |  | $ | 252.8 |
(1)Includes items that are presented separately on the Condensed Consolidated Statements of Income. A summary of the carrying amounts of major assets and liabilities, which were classified as held for sale in the Condensed Consolidated Balance Sheets follows:
(in millions) |  | December 31, 2020 |  | December 31, 2019
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 5.1 |  |  | $ | 8.7 |
Receivables, net |  | 58.3 |  |  | 60.0 |
Inventories |  | 70.8 |  |  | 75.7 |
Prepaid other current assets |  | 10.4 |  |  | 7.3 |
Total current assets |  | 144.6 |  |  | 151.7 |
Property, plant, and equipment, net |  | 102.0 |  |  | 107.2 |
Goodwill, net |  | 96.5 |  |  | 96.5 |
Other intangible assets, net |  | 73.9 |  |  | 80.2 |
Other long-term assets |  | 2.6 |  |  | 3.4 |
Total long-term assets |  | $ | 275.0 |  |  | $ | 287.3 |
LIABILITIES |  |  |  |
Accounts payable |  | $ | 33.1 |  |  | $ | 30.6 |
Accrued liabilities and other |  | 20.4 |  |  | 14.0 |
Total current liabilities |  | 53.5 |  |  | 44.6 |
Other long-term liabilities |  | 21.9 |  |  | 24.8 |
Total long-term liabilities |  | $ | 21.9 |  |  | $ | 24.8 |
A summary of cash flows from discontinued operations included in the Consolidated Statements of Cash Flows follows:
|  | 2020 |  | 2019 |  | 2018
(in millions) |  | CBF |  | CBF |  | CBF |  | CFS |  | Total
Net cash provided by (used in) operating activities |  | $ | 38.0 |  |  | $ | 16.9 |  |  | $ | 12.3 |  |  | $ | (2.0) |  |  | $ | 10.3 |
Net cash used in investing activities |  | (9.6) |  |  | (18.3) |  |  | (22.3) |  |  | (8.1) |  |  | (30.4) |
Net cash (used in) provided by financing activities(1) |  | (32.0) |  |  | 2.7 |  |  | 12.2 |  |  | 11.4 |  |  | 23.6 |
Change in cash and cash equivalents from discontinued operations |  | $ | (3.6) |  |  | $ | 1.3 |  |  | $ | 2.2 |  |  | $ | 1.3 |  |  | $ | 3.5 |
(1)Represents (repayments) borrowings from the Carlisle cash pool, dividends and returns of capital.

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