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Divestiture (Tables) | 9 Months Ended
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Sep. 30, 2012
Operating results and carrying value of major classes of assets and liabilities | Summary operating results for this discontinued operation were as follows:
|  | Three Months Ended September 30, 2012 |  |  | Nine Months Ended September 30, 2012 |
Net sales |  | $ | 78.9 |  |  | $ | 230.8 |
Operating profit |  | $ | 9.8 |  |  | $ | 25.9 |
Earnings before income tax provision |  | $ | 9.6 |  |  | $ | 25.0 |
Income tax provision |  | $ | 3.7 |  |  | $ | 9.7 |
Net earnings from discontinued operations, net of tax |  | $ | 5.9 |  |  | $ | 15.3 |
We do not consider the results of the Diversey Japan to be material to our condensed consolidated financial statements. The carrying value of the major classes of assets and liabilities for these discontinued operations were as follows:
|  | September 30, 2012 |  |  | December 31, 2011 |
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 12.1 |  |  | $ | 19.2 |
Receivables, net |  |  | 61.0 |  |  |  | 68.8 |
Inventories |  |  | 25.6 |  |  |  | 20.6 |
Deferred tax assets |  |  | 9.4 |  |  |  | 9.3 |
Prepaid expenses and other current assets |  |  | 2.8 |  |  |  | 8.8 |
Property and equipment, net |  |  | 51.7 |  |  |  | 52.9 |
Goodwill |  |  | 11.0 |  |  |  | 10.9 |
Intangible assets, net |  |  | 66.8 |  |  |  | 69.4 |
Non-current deferred tax assets |  |  | 20.1 |  |  |  | 17.0 |
Other assets, net |  |  | 3.6 |  |  |  | 2.1 |
Assets held for sale |  | $ | 264.1 |  |  | $ | 279.0 |
Liabilities: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 59.7 |  |  | $ | 64.1 |
Other current liabilities |  |  | 20.7 |  |  |  | 29.9 |
Long-term debt, less current portion |  |  | 41.0 |  |  |  | 44.2 |
Non-current deferred tax liabilities |  |  | 30.3 |  |  |  | 27.6 |
Other liabilities |  |  | 46.8 |  |  |  | 50.9 |
Liabilities held for sale |  | $ | 198.5 |  |  | $ | 216.7 |

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 + Details
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