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DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables) | 6 Months Ended
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Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of disposal groups, including discontinued operations | The following table provides the amounts of assets and liabilities held for sale in the Condensed Consolidated Balance Sheet (in millions):
| June 30, 2019 |  | December 31, 2018
| Cranes |  | Cranes
Assets |  |  |
Cash and cash equivalents | $ | 27.1 |  |  | $ | 32.6 |
Trade receivables – net | 74.7 |  |  | 126.9 |
Inventories | 306.4 |  |  | 295.5 |
Prepaid and other current assets | 10.6 |  |  | 9.4 |
Impairment reserve | (16.8 | ) |  | (4.9 | )
Current assets held for sale | $ | 402.0 |  |  | $ | 459.5 |
Property, plant and equipment – net | $ | 29.3 |  |  | $ | 28.8 |
Intangible assets | 4.4 |  |  | 4.3 |
Impairment reserve | (73.1 | ) |  | (2.9 | )
Other assets | 45.3 |  |  | 38.2 |
Non-current assets held for sale | $ | 5.9 |  |  | $ | 68.4 |
Liabilities |  |  |  |  |
Notes payable and current portion of long-term debt | $ | 0.5 |  |  | $ | 0.6 |
Trade accounts payable | 61.6 |  |  | 101.6 |
Accruals and other current liabilities | 69.2 |  |  | 77.3 |
Current liabilities held for sale | $ | 131.3 |  |  | $ | 179.5 |
Long-term debt, less current portion | $ | 3.7 |  |  | $ | 4.1 |
Retirement plans and other non-current liabilities | 69.5 |  |  | 71.8 |
Non-current liabilities | 15.3 |  |  | 10.6 |
Non-current liabilities held for sale | $ | 88.5 |  |  | $ | 86.5 |
The following table provides amounts of cash and cash equivalents presented in the Condensed Consolidated Statement of Cash Flows (in millions):
| June 30, 2019 |  | December 31, 2018
Cash and cash equivalents: |  |  |
Cash and cash equivalents - continuing operations | $ | 367.5 |  |  | $ | 339.5 |
Cash and cash equivalents - held for sale | 27.1 |  |  | 32.6 |
Total cash and cash equivalents | $ | 394.6 |  |  | $ | 372.1 |
The following table provides supplemental cash flow information related to discontinued operations (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Non-cash operating items: |  |  |  |  |  |  |
Depreciation and amortization | $ | 1.0 |  |  | $ | 3.9 |  |  | $ | 3.2 |  |  | $ | 7.8 |
Impairments | $ | (4.0 | ) |  | $ | 0.7 |  |  | $ | 82.1 |  |  | $ | 0.9 |
Deferred taxes | $ | 5.4 |  |  | $ | 0.4 |  |  | $ | 2.1 |  |  | $ | 0.2 |
Investing activities: |  |  |  |  |  |  |
Capital expenditures | $ | (1.1 | ) |  | $ | (4.2 | ) |  | $ | (2.7 | ) |  | $ | (7.4 | )
Gain (loss) on disposition of discontinued operations - net of tax (in millions):
| Three Months Ended
| June 30,
| 2019 |  | 2018
| Cranes | Material Handling and Port Solutions | Total |  | Material Handling and Port Solutions | Trucks | Atlas | Total
Gain (loss) on disposition of discontinued operations | $ | 13.7 |  | $ | — |  | $ | 13.7 |  |  | $ | (0.6 | ) | $ | — |  | $ | — |  | $ | (0.6 | )
(Provision for) benefit from income taxes | (0.9 | ) | (2.0 | ) | (2.9 | ) |  | 0.1 |  | 2.4 |  | — |  | 2.5 |
Gain (loss) on disposition of discontinued operations – net of tax | $ | 12.8 |  | $ | (2.0 | ) | $ | 10.8 |  |  | $ | (0.5 | ) | $ | 2.4 |  | $ | — |  | $ | 1.9 |
| Six Months Ended
| June 30,
| 2019 |  | 2018
| Cranes | Material Handling and Port Solutions | Total |  | Material Handling and Port Solutions | Trucks | Atlas | Total
Gain (loss) on disposition of discontinued operations | $ | 13.7 |  | $ | (1.3 | ) | $ | 12.4 |  |  | $ | (0.6 | ) | $ | — |  | $ | 3.2 |  | $ | 2.6 |
(Provision for) benefit from income taxes | (0.9 | ) | (0.1 | ) | (1.0 | ) |  | 0.1 |  | 2.4 |  | (0.5 | ) | 2.0 |
Gain (loss) on disposition of discontinued operations – net of tax | $ | 12.8 |  | $ | (1.4 | ) | $ | 11.4 |  |  | $ | (0.5 | ) | $ | 2.4 |  | $ | 2.7 |  | $ | 4.6 |
The following amounts related to discontinued operations were derived from historical financial information and have been segregated from continuing operations and reported as discontinued operations in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Net sales | $ | 131.2 |  |  | $ | 149.5 |  |  | $ | 257.1 |  |  | $ | 293.8 |
Cost of sales | (122.6 | ) |  | (148.8 | ) |  | (262.9 | ) |  | (290.8 | )
Selling, general and administrative expenses | (30.6 | ) |  | (29.8 | ) |  | (61.6 | ) |  | (55.1 | )
Impairment of Mobile Cranes disposal group | 4.0 |  |  | — |  |  | (82.1 | ) |  | — |
Other income (expense) | (1.4 | ) |  | (0.8 | ) |  | (3.7 | ) |  | (1.7 | )
Income (loss) from discontinued operations before income taxes | (19.4 | ) |  | (29.9 | ) |  | (153.2 | ) |  | (53.8 | )
(Provision for) benefit from income taxes | 2.1 |  |  | 1.6 |  |  | 11.5 |  |  | 4.4 |
Income (loss) from discontinued operations – net of tax | (17.3 | ) |  | (28.3 | ) |  | (141.7 | ) |  | (49.4 | )

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