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Discontinued Operation and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations | The results of our discontinued operations were as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Net sales | $ | 2.0 |  |  | $ | 188.9 |  |  | $ | 301.4 |
Cost of sales | 1.3 |  |  | 124.6 |  |  | 192.1 |
Gross profit | 0.7 |  |  | 64.3 |  |  | 109.3 |
Operating expenses: |  |  |  |  |
Selling, general, and administrative expenses | 0.4 |  |  | 43.8 |  |  | 76 |
Other | — |  |  | 0.2 |  |  | 3.6 |
Total operating expenses | 0.4 |  |  | 44.0 |  |  | 79.6 |
Operating income from discontinued operations | 0.3 |  |  | 20.3 |  |  | 29.7 |
Income from discontinued operations before income taxes | 0.3 |  |  | 20.3 |  |  | 29.7 |
Income tax benefit (expense) | (0.1) |  |  | 1.8 |  |  | (13.9) |
Income from discontinued operations, net of taxes before gain from sale of discontinued operations | 0.2 |  |  | 22.1 |  |  | 15.8 |
Gain from sale of discontinued operations, net of taxes | 11.2 |  |  | 176.3 |  |  | 105.2 |
Income from discontinued operations, net of taxes | $ | 11.4 |  |  | $ | 198.4 |  |  | $ | 121.0 |
The major classes of assets and liabilities for our discontinued Engineered Materials segment are shown below:
(in millions) | December 31, 2022
Assets: |
Accounts receivable | $ | 3.8 |
Inventories | 3.1 |
Property, plant and equipment | 7.6 |
Other intangible assets | 1.2 |
Other assets | 0.2 |
Current assets of discontinued operations | $ | 15.9 |
Liabilities |
Accounts payable | $ | 1.4 |
Accrued expenses | 0.9 |
Current liabilities of discontinued operations | $ | 2.3 |

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