XML 36 R26.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Assets and Liabilities Held for Sale | 9 Months Ended
--- | ---
Sep. 30, 2018
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure | Assets and Liabilities Held For Sale In 2017, the Company started exploring strategic options for non-core emission product lines in the Engine segment and launched an active program to locate a buyer and initiated all other actions required to complete the plan to sell the non-core pipes and thermostat product lines. The Company determined that the assets and liabilities of the pipes and thermostat product lines met the held for sale criteria as of December 31, 2017. As of September 30, 2018 and December 31, 2017, assets of $64.5 million and $67.3 million, including allocated goodwill of $7.1 million and $7.3 million, and liabilities of $29.9 million and $29.5 million, respectively, were reclassified as held for sale on the Consolidated Balance Sheets. The fair value of the assets and liabilities, less costs to sell, was determined to be less than the carrying value, therefore, the Company recorded an asset impairment expense of $71.0 million in the year ended December 31, 2017 in Other expense, net to adjust the net book value of this business to its fair value less cost to sell. In the first nine months of 2018, the Company continued its efforts to locate a buyer for this business and received bids from interested parties. The Company continues to discuss the form and economics of a potential transaction with interested parties and has not reached an agreement with any party. Based on consideration of all available information, including the status of negotiations with the potential buyers and the preliminary indications of value from interested parties, management determined that no additional adjustment to the carrying value of this business is required as of September 30, 2018. The business did not meet the criteria to be classified as a discontinued operation. The assets and liabilities classified as held for sale are as follows:
| September 30, |  | December 31,
(millions of dollars) | 2018 |  | 2017
Receivables, net | $ | 23.6 |  |  | $ | 21.0 |
Inventories, net | 24.4 |  |  | 30.4 |
Prepayments and other current assets | 12.8 |  |  | 10.3 |
Property, plant and equipment, net | 44.7 |  |  | 47.7 |
Goodwill | 7.1 |  |  | 7.3 |
Other intangible assets, net | 20.4 |  |  | 21.1 |
Other assets | 0.1 |  |  | 0.5 |
Impairment of carrying value | (68.6 | ) |  | (71.0 | )
Total assets held for sale | $ | 64.5 |  |  | $ | 67.3 |
Accounts payable and accrued expenses | $ | 24.9 |  |  | $ | 24.6 |
Other liabilities | 5.0 |  |  | 4.9 |
Total liabilities held for sale | $ | 29.9 |  |  | $ | 29.5 |

X
- References No definition available. + Details
Name: | us-gaap_DisposalGroupNotDiscontinuedOperationDisposalDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration