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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2012
Assets and Liabilities from Discontinued Operations | The major classes of assets and liabilities related to our disposition of the Shape Cutting Businesses at December 31, 2011 are provided in the table below. These amounts are presented as assets of discontinued operations within Other Assets and Other Liabilities on our Consolidated Balance Sheet.
Receivables, net |  | $ | 5.6 |
Inventories, net |  |  | 5.8 |
Other current assets |  |  | 1.0 |
Total current assets |  |  | 12.4 |
Plant, property and equipment, net |  |  | 2.6 |
Goodwill |  |  | 12.9 |
Other intangible assets |  |  | 11.2 |
Total assets |  | $ | 39.1 |
Total liabilities |  | $ | 9.4 |
Results of Discontinued Operations | Summarized operating results from the Shape Cutting Businesses presented within earnings from discontinued operations are provided in the tables below.
Year Ended 2012 |  | Shape Cutting Businesses |  |  | Other |  |  | Total |
Revenue |  | $ | 30.2 |  |  | $ | – |  |  | $ | 30.2 |
Earnings from discontinued operations before income taxes |  |  | 0.6 |  |  |  | 0.4 |  |  |  | 1.0 |
Gain on sale before tax |  |  | 9.0 |  |  |  | – |  |  |  | 9.0 |
Income tax expense (benefit) |  |  | – |  |  |  | (5.9 | ) |  |  | (5.9 | )
Earnings from discontinued operations, net of tax |  | $ | 9.6 |  |  | $ | 6.3 |  |  | $ | 15.9 |
Year Ended 2011 |  | Exelis |  |  | Xylem |  |  | Shape Cutting Businesses |  |  | Other |  |  | Total |
Revenue |  | $ | 4,916.1 |  |  | $ | 3,107.5 |  |  | $ | 33.5 |  |  | $ | – |  |  | $ | 8,057.1 |
Transformation costs |  |  | 31.2 |  |  |  | 74.8 |  |  |  | – |  |  |  | 134.1 |  |  |  | 240.1 |
Earnings from discontinued operations before income taxes |  |  | 473.0 |  |  |  | 321.5 |  |  |  | (2.5 | ) |  |  | (108.9 | ) |  |  | 683.1 |
Income tax expense (benefit) |  |  | 193.6 |  |  |  | 70.3 |  |  |  | (1.1 | ) |  |  | (26.7 | ) |  |  | 236.1 |
Earnings (loss) from discontinued operations, net of tax |  | $ | 279.4 |  |  | $ | 251.2 |  |  | $ | (1.4 | ) |  | $ | (82.2 | ) |  | $ | 447.0 |
Year Ended 2010 |  | Exelis |  |  | Xylem |  |  | CAS |  |  | Shape Cutting Businesses |  |  | Other |  |  | Total |
Revenue |  | $ | 5,893.1 |  |  | $ | 3,191.7 |  |  | $ | 159.8 |  |  | $ | 17.6 |  |  | $ | – |  |  | $ | 9,262.2 |
Earnings from discontinued operations before income taxes |  |  | 718.2 |  |  |  | 395.5 |  |  |  | 13.4 |  |  |  | (3.2 | ) |  |  | 10.7 |  |  |  | 1,134.6 |
Gain on sale before tax |  |  | – |  |  |  | – |  |  |  | 125.8 |  |  |  | – |  |  |  | (0.2 | ) |  |  | 125.6 |
Income tax expense (benefit) |  |  | 250.6 |  |  |  | 51.6 |  |  |  | (0.2 | ) |  |  | (1.1 | ) |  |  | 24.6 |  |  |  | 325.5 |
Earnings (loss) from discontinued operations, net of tax |  | $ | 467.6 |  |  | $ | 343.9 |  |  | $ | 139.4 |  |  | $ | (2.1 | ) |  | $ | (14.1 | ) |  | $ | 934.7 |

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