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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following represents financial results from discontinued operations:
| For the year ended December 31,
(in millions) |  | 2021 |  | 2020 |  | 2019
Net sales |  | $ | 228.0 |  |  | $ | 175.6 |  |  | $ | 208.6 |
Cost of sales |  | 181.3 |  |  | 134.5 |  |  | 161.9 |
Selling, general and administrative |  | 19.8 |  |  | 17.8 |  |  | 19.4 |
Restructuring charges |  | — |  |  | 0.6 |  |  | — |
Operating profit |  | $ | 26.9 |  |  | $ | 22.7 |  |  | $ | 27.3 |
Miscellaneous expense, net |  | (1.3) |  |  | — |  |  | (0.5) |
Income from discontinued operations |  | $ | 25.6 |  |  | $ | 22.7 |  |  | $ | 26.8 |
Income tax (benefit) provision(a) |  | (15.5) |  |  | 4.8 |  |  | 5.8 |
Income from discontinued operations, net of tax |  | $ | 41.1 |  |  | $ | 17.9 |  |  | $ | 21.0 |
(a) The period ended December 31, 2021 includes $20.6 million of deferred tax benefit associated with the pending disposition of the Engineered Materials segment.
ajor classes of assets and liabilities to be disposed of in the transaction:
(in millions) |  | December 31, 2021 |  | December 31, 2020
Assets: |  |  |  |
Accounts receivable, net |  | $ | 10.6 |  |  | $ | 8.8 |
Inventories, net |  | 8.2 |  |  | 8.5
Other current assets |  | 0.6 |  |  | 0.1
Current assets held for sale (a) |  | 19.4 |  |  | 17.4
Property, plant and equipment, net |  | 28.3 |  |  | 26.8
Other assets |  | 0.3 |  |  | 0.6
Intangible assets, net |  | 1.2 |  |  | 1.2
Goodwill |  | 171.3 |  |  | 171.3
Long-term assets held for sale (a) |  | 201.1 |  |  | 199.9 |
Assets held for sale |  | $ | 220.5 |  |  | $ | 217.3 |
Liabilities: |  |  |  |
Accounts payable |  | $ | 27.0 |  |  | $ | 19.5 |
Accrued liabilities |  | 12.0 |  |  | 7.9
Current liabilities held for sale (a) |  | 39.0 |  |  | 27.4
Long-term deferred tax liability |  | 5.8 |  |  | 26.1
Other liabilities |  | 0.1 |  | 0.1
Long-term liabilities held for sale (a) |  | 5.9 |  |  | 26.2 |
Liabilities held for sale |  | $ | 44.9 |  |  | $ | 53.6 |
(a) We reasonably expect to close on this transaction within one year from the date of our entry into the agreement, and therefore have presented the assets and liabilities as current as of December 31, 2021.

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