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Divestitures and Discontinued Operations | 6 Months Ended
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Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Divestitures and Discontinued Operations | Divestitures and Discontinued Operations 2022 Divestitures. On July 1, 2022, the Company completed the sale of its TAP business, an aftermarket parts business, for a sales pr ice, net of post-closing purchase price adjustments, of $42.2 million. The results of TAP have been presented as discontinued operations. TAP was historically included within the Company’s Aftermarket segment; however, as a result of the divestiture, the Company began management of its portfolio of businesses under a new basis as of June 30, 2022. The Aftermarket segment was eliminated and the results of the Company’s remaining aftermarket businesses historically included within the Aftermarket segment were reclassified to the Off Road and On Road segments. The comparative 2022 segment results were reclassified for comparability. Results of discontinued operations were as follows (in millions):
| Three months ended June 30, 2022 |  | Six months ended June 30, 2022
Sales | $ | 173.9 |  |  | $ | 349.3 |
Cost of sales | 131.0 |  |  | 262.9 |
Other costs and expenses | 48.5 |  |  | 97.5 |
Loss from discontinued operations before income taxes | (5.6) |  |  | (11.1) |
Income tax benefit | (1.4) |  |  | (2.7) |
Loss from discontinued operations, net of tax | (4.2) |  |  | (8.4) |
Impairment of discontinued operations | 187.8 |  |  | 187.8 |
Income tax benefit | (45.6) |  |  | (45.6) |
Impairment of discontinued operations, net of tax | 142.2 |  |  | 142.2 |
Net loss from discontinued operations | $ | (146.4) |  |  | $ | (150.6) |

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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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