Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Summary of the results of discontinued operations

The following table summarizes the results of the discontinued operations for the years ended December 31, 2014, 2013 and 2012.



(in millions)	2014			2013		2012
Net sales	$	369.4		$	453.8	$	456.3
(Loss) income from discontinued operations before income taxes	$	(90.8	)	$	34.4	$	18.8
Income taxes		23.5			12.5		7.4
(Loss) income from discontinued operations, net tax	$	(114.3	)	$	21.9	$	11.4

The 2014 loss from discontinued operations, net of tax, included a loss on sale of the Simonton business of $111.2 million as well as $14.1 million of restructuring and impairment charges for Waterloo in order to remeasure this business at the estimated fair value less costs to sell.

The following table summarizes the major classes of assets and liabilities of Simonton and Waterloo, which are now reflected as a discontinued operations on the consolidated balance sheet:



(in millions)	December 31, 2014		December 31, 2013
	(Waterloo only)		(Simonton and Waterloo)
Accounts receivable, net	$	40.1	$	74.3
Inventories		15.9		42.6
Other current assets		7.3		9.5
Total current assets		63.3		126.4
Property, plant and equipment, net		13.3		66.2
Goodwill		—		86.1
Identifiable intangibles, net		—		123.9
Other non-current assets		4.0		1.5
Total assets	$	80.6	$	404.1
Accounts payable	$	8.5	$	29.0
Other current liabilities		9.0		31.8
Total current liabilities		17.5		60.8
Other non-current liabilities		3.4		57.0
Total liabilities	$	20.9	$	117.8

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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