XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Assets and Liabilities Held for Sale | 9 Months Ended
--- | ---
Sep. 30, 2022
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] |
Assets and Liabilities Held for Sale | ASSETS AND LIABILITIES HELD FOR SALE Hennessy During the three months ended July 1, 2022, the Company reached the strategic decision to exit our Hennessy business. The Company determined that the associated assets and liabilities met the held for sale accounting criteria and they were classified as Current assets held for sale and Current liabilities held for sale in the Consolidated Condensed Balance Sheet as of September 30, 2022. Global Traffic Technologies During the three months ended July 1, 2022, the Company reached the strategic decision to exit our Global Traffic Technologies business (collectively with Hennessy, the “Disposal Groups”). The Company determined that the associated assets and liabilities met the held for sale accounting criteria and they were classified as Current assets held for sale and Current liabilities held for sale in the Consolidated Condensed Balance Sheet as of September 30, 2022. The assets and liabilities were measured at the lower of fair value less costs to sell or the carrying value. The following table summarizes the carrying amounts of major classes of assets and liabilities of the Disposal Groups as of:
($ in millions) |  |  |  |  |
ASSETS |  |  |  |  |
Accounts receivable, net |  |  |  |  | $ | 21.3 |
Inventories |  |  |  |  | 16.4 |
Other current assets |  |  |  |  | 1.7 |
Property, plant and equipment, net |  |  |  |  | 9.1 |
Operating lease right-of-use assets |  |  |  |  | 0.4 |
Other intangible assets, net |  |  |  |  | 28.7 |
Goodwill |  |  |  |  | 56.0 |
Other assets |  |  |  |  | 5.1 |
Total assets held for sale |  |  |  |  | $ | 138.7 |
LIABILITIES |  |  |  |  |
Trade accounts payable |  |  |  |  | $ | 14.4 |
Current operating lease liabilities |  |  |  |  | 0.4 |
Accrued expenses and other current liabilities |  |  |  |  | 14.6 |
Other long-term liabilities |  |  |  |  | 10.0 |
Total liabilities held for sale |  |  |  |  | $ | 39.4 |
The operations of Hennessy and Global Traffic Technologies did not meet the criteria individually or in the aggregate to be presented as discontinued operations.

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 https://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 https://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration