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Acquisitions and Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Business Acquisition, Pro Forma Information | The following unaudited pro forma information presents our consolidated results of operations for the year ended December 31, 2018 as if the acquisition of Cues had taken place on January 1, 2018. The unaudited pro forma financial information is not intended to represent or be indicative of our consolidated results of operations that would have been reported had the acquisition been completed as of the date presented, and should not be taken as representative of our future consolidated results of operations. The pro forma results include estimates and assumptions that management believes are reasonable; however, these results do not include any anticipated cost savings or expenses of the planned integration of Cues. These pro forma results of operations have been prepared for comparative purposes only and include additional interest expense on the borrowings required to finance the acquisition, additional depreciation and amortization expense associated with fair value adjustments to the acquired property, plant and equipment and intangible assets, the removal of charges associated with the excess fair value (over historical cost) of inventory acquired and subsequently sold, the removal of professional fees and other one-time costs incurred in connection with the transaction, and the related income tax effects.
|  |  | Year ended December 31,
|  |  |  |  | 2018
Revenues |  |  |  |  | $ | 1,546.7 |
Income from continuing operations |  |  |  |  | 90.8 |
Net income |  |  |  |  | 90.1 |
Income from continuing operations per share of common stock: |  |  |  |  |
Basic |  |  |  |  | $ | 2.11 |
Diluted |  |  |  |  | $ | 2.03 |
Net income per share of common stock: |  |  |  |  |
Basic |  |  |  |  | $ | 2.09 |
Diluted |  |  |  |  | $ | 2.02 |
Schedule of Discontinued Operations | Major line items constituting pre-tax income (loss) and after-tax income (loss) of Heat Transfer for the years ended December 31, 2020, 2019 and 2018 are shown below:
|  |  | Year ended December 31,
|  |  |  |  | 2020 |  | 2019 |  | 2018
Revenues |  |  |  |  | $ | 3.9 |  |  | $ | 4.5 |  |  | $ | 26.0 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of products sold |  |  |  |  | 3.1 |  |  | 6.1 |  |  | 25.3 |
Selling, general and administrative |  |  |  |  | 0.1 |  |  | 0.9 |  |  | 2.9 |
Intangible amortization expense |  |  |  |  | — |  |  | — |  |  | 0.1 |
Special charges (credits), net |  |  |  |  | 0.4 |  |  | (0.4) |  |  | 2.6 |
Other income, net |  |  |  |  | — |  |  | 0.3 |  |  | — |
Income (loss) before income tax |  |  |  |  | 0.3 |  |  | (1.8) |  |  | (4.9) |
Income tax (provision) benefit |  |  |  |  | (0.1) |  |  | 0.4 |  |  | 1.2 |
Income (loss) from discontinued operations, net of tax |  |  |  |  | $ | 0.2 |  |  | $ | (1.4) |  |  | $ | (3.7) |
For the years ended December 31, 2020, 2019 and 2018, results of operations from our businesses reported as discontinued operations were as follows:
| Year ended December 31,
| 2020 |  | 2019 |  | 2018
Balcke Dürr |  |  |  |  |
Income from discontinued operations | $ | — |  |  | $ | — |  |  | $ | 6.3 |
Income tax provision | — |  |  | — |  |  | (2.5) |
Income from discontinued operations, net | — |  |  | — |  |  | 3.8 |
Heat Transfer |  |  |  |  |
Income (loss) from discontinued operations | 0.3 |  |  | (1.8) |  |  | (4.9) |
Income tax (provision) benefit | (0.1) |  |  | 0.4 |  |  | 1.2 |
Income (loss) from discontinued operations, net | 0.2 |  |  | (1.4) |  |  | (3.7) |
All other |  |  |  |  |
Loss from discontinued operations | (4.8) |  |  | (4.0) |  |  | (1.2) |
Income tax (provision) benefit | 1.1 |  |  | (0.4) |  |  | 0.4 |
Loss from discontinued operations, net | (3.7) |  |  | (4.4) |  |  | (0.8) |
Total |  |  |  |  |
Income (loss) from discontinued operations | (4.5) |  |  | (5.8) |  |  | 0.2 |
Income tax (provision) benefit | 1.0 |  |  | — |  |  | (0.9) |
Loss from discontinued operations, net | $ | (3.5) |  |  | $ | (5.8) |  |  | $ | (0.7) |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The assets and liabilities of Heat Transfer have been classified as assets and liabilities of discontinued operations as of December 31, 2020 and 2019. The major line items constituting Heat Transfer’s assets and liabilities as of December 31, 2020 and 2019 are shown below:
|  |  | December 31,
|  |  |  |  | 2020 |  | 2019
ASSETS: |  |  |  |  |  |  |
Cash and equivalents |  |  |  |  | $ | — |  |  | $ | 0.1 |
Accounts receivable, net |  |  |  |  | 0.1 |  |  | 1.1 |
Contract assets |  |  |  |  | — |  |  | 0.3 |
Other current assets |  |  |  |  | 0.2 |  |  | 0.2 |
Assets of discontinued operations - current |  |  |  |  | 0.3 |  |  | 1.7 |
Other assets |  |  |  |  | 0.2 |  |  | 0.4 |
Total assets - discontinued operations |  |  |  |  | $ | 0.5 |  |  | $ | 2.1 |
LIABILITIES: |  |  |  |  |  |  |
Accounts payable |  |  |  |  | $ | 0.2 |  |  | $ | 0.4 |
Contract liabilities |  |  |  |  | — |  |  | 0.3 |
Accrued expenses |  |  |  |  | 0.3 |  |  | 0.8 |
Liabilities of discontinued operations - current |  |  |  |  | 0.5 |  |  | 1.5 |
Long-term liabilities |  |  |  |  | — |  |  | 0.2 |
Total liabilities - discontinued operations |  |  |  |  | $ | 0.5 |  |  | $ | 1.7 |

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