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Discontinued Operations
 3 Months Ended
Mar. 31, 2012
Discontinued Operations [Abstract]  
DISCONTINUED OPERATIONS

12. DISCONTINUED OPERATIONS

The following table presents the operating results of the Company’s discontinued operations for the three-month periods ended March 31, 2012 and 2011:

 

                 
    Three Months Ended
March  31,		  
($ in millions)   2012     2011  

Net sales

   $ —       $ 0.2  

Cost and expenses

     —         (0.5 ) 
   

 

 

    

 

 

  

Loss before income taxes

     —         (0.3 ) 

Income tax benefit

     —         —    
   

 

 

    

 

 

  

Loss on discontinued operations

   $ —       $ (0.3 ) 
   

 

 

    

 

 

  

During the first quarter of 2012, the Company recorded a gain of $0.1 million on discontinued operations, primarily related to the liquidation of the assets of the China WOFE business.

The following table shows an analysis of assets and liabilities of discontinued operations as of March 31, 2012 and December 31, 2011:

 

                 
($ in millions)   March 31,
2012		     December 31,
2011		  

Current assets

   $ —       $ 0.6  

Properties and equipment

     0.5       0.5  

Long-term assets

     1.1       1.4  

Financial service assets, net

     0.9       1.0  
   

 

 

    

 

 

  

Total assets of discontinued operations

   $ 2.5     $ 3.5  
   

 

 

    

 

 

  

Current liabilities

   $ 3.8     $ 4.0  

Long-term liabilities

     6.1       7.4  

Financial service liabilities

     —         0.9  
   

 

 

    

 

 

  

Total liabilities of discontinued operations

   $ 9.9     $ 12.3  
   

 

 

    

 

 

  

Included in current liabilities at March 31, 2012 and December 31, 2011 is $2.1 million and $2.2 million, respectively, related to environmental remediation at the Pearland, Texas facility, which was previously used by the Company’s discontinued Pauluhn business. Included in long-term liabilities at March 31, 2012 and December 31, 2011 is $5.1 million and $5.1 million, respectively, relating to estimated product liability obligations of the North American refuse truck body business.