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Discontinued Operations | 6 Months Ended
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Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations As discussed in our Annual Report on Form 10-K for the year ended December 31, 2020, on October 1, 2020, we closed on the sale of our cryobiological products business to Cryoport, Inc. (NASDAQ: CYRX) (the “Cryobiological Divestiture”). Our cryobiological products business asset group met the criteria to be held for sale. Furthermore, we determined that the assets held for sale qualified for discontinued operations. As such, the financial results of the cryobiological products business are reflected in our unaudited condensed consolidated statements of income and comprehensive income as discontinued operations for all prior periods presented. Summarized Financial Information of Discontinued Operations The following table represents income from discontinued operations, net of tax:
|  |  | Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2020
Sales |  |  |  |  | $ | 20.9 |  |  | $ | 40.1 |
Cost of sales |  |  |  |  | 11.8 |  |  | 21.9 |
Selling, general and administrative expenses |  |  |  |  | 1.5 |  |  | 2.9 |
Operating income (1) |  |  |  |  | 7.6 |  |  | 15.3 |
Income before income taxes from discontinued operations |  |  |  |  | 8.0 |  |  | 15.7 |
Income tax expense |  |  |  |  | 1.7 |  |  | 3.0 |
Income from discontinued operations, net of tax |  |  |  |  | $ | 6.3 |  |  | $ | 12.7 |
________________ (1)Includes depreciation expense of $0.3 and $0.6 for the three and six months ended June 30, 2020. The following table represents a summary of cash flows related to discontinued operations:
| Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2020
Net cash provided by (used in): |  |  |
Operating activities | $ | 7.7 |  |  | $ | 14.9 |
Investing activities | — |  |  | (0.1) |
Net cash provided by discontinued operations | $ | 7.7 |  |  | $ | 14.8 |

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- 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
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