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Divestiture | 6 Months Ended
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Jun. 30, 2014
Business Combinations [Abstract] |
Divestiture | (3) Divestiture On December 6, 2013, we completed the sale of the rigid medical packaging business to a private equity firm, Mason Wells Buyout Fund III, L.P. for gross proceeds of $125 million, including certain purchase price adjustments. Net proceeds were $122 million. We recorded a pre-tax gain on the sale of $40 million ($23 million net of tax) which is included in net earnings in the consolidated statement of operations for the year ended December 31, 2013. The rigid medical packaging business was included in our Other Category and was comprised of: Nelipak Holdings, located in the Netherlands and Ireland, Alga Plastics, located in the U.S. and ATE located in Costa Rica. The results of the rigid medical packaging business are presented as discontinued operations, net of tax, in the condensed consolidated statements of operations for the three months and six months ended June 30, 2013 and cash flows and related disclosures and, as such, have been excluded from both continuing operations and segment results for all periods presented. The operating results of the retained portion of the previously reported Medical Applications business continue to be part of our Other Category. Following is selected financial information included in net earnings from discontinued operations:
|  | Three Months Ended June 30, 2013 |  |  | Six Months Ended June 30, 2013 |
Net sales |  | $ | 24.2 |  |  | $ | 48.1 |
Operating profit |  | $ | 3.1 |  |  | $ | 5.9 |
Earnings before income tax provision |  | $ | 3.0 |  |  | $ | 5.7 |
Income tax provision |  |  | 1.0 |  |  |  | 1.7 |
Net earnings from discontinued operations, net of tax |  | $ | 2.0 |  |  | $ | 4.0 |

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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