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HELD FOR SALE | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
HELD FOR SALE | HELD FOR SALE MGS Transaction On September 1, 2024, the Company entered into an agreement to sell its flexographic printing plate business, MacDermid Graphics Solutions, for approximately $325 million. MacDermid Graphics Solutions constitutes substantially all of the Company’s Graphics Solutions business within its Industrial & Specialty segment. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions and adjustments. The pending disposition met the accounting criteria to be classified as held for sale but did not meet the criteria to be reported as discontinued operations. As a result, the assets and liabilities of MacDermid Graphics Solutions are classified as held for sale in the Consolidated Balance Sheets and depreciation and amortization ceased as of September 1, 2024. The Company compared the expected proceeds from the transaction less costs to sell to the carrying value of MacDermid Graphics Solutions and determined that its fair value exceeded its carrying value. The major components of MacDermid Graphics Solutions' assets and liabilities classified as held for sale were as follows:
(dollars in millions) |  | December 31, 2024
Assets held for sale: |  |
Accounts receivable, net |  | $ | 28.7 |
Inventories |  | 30.6 |
Other current assets |  | 5.9 |
Current assets held for sale |  | $ | 65.2 |
Property, plant and equipment, net |  | 35.3 |
Goodwill |  | 127.9 |
Intangible assets, net |  | 11.0 |
ROU assets |  | 11.3 |
Other assets |  | 3.4 |
Non-current assets held for sale |  | $ | 188.9 |
Liabilities held for sale: |  |
Accounts payable |  | $ | 9.3 |
Accrued expenses and other current liabilities |  | 9.4 |
Current liabilities held for sale |  | $ | 18.7 |
Non-current lease liabilities |  | 11.4 |
Other liabilities |  | 2.1 |
Non-current liabilities held for sale |  | $ | 13.5 |

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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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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