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DISCONTINUED OPERATIONS (Tables) | 9 Months Ended
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Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following table summarizes the major line items constituting pretax income of discontinued operations associated with the Distribution business segment for the three and nine months ended September 30, 2022 and 2021:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Sales | $ | 398.6 |  |  | $ | 401.8 |  |  | $ | 1,211.6 |  |  | $ | 1,108.9 |
Cost of sales | 355.4 |  |  | 362.0 |  |  | 1,085.9 |  |  | 989.6 |
Selling and administrative expense | 18.2 |  |  | 13.9 |  |  | 44.9 |  |  | 41.6 |
Other (expense) income | (0.9) |  |  | (0.2) |  |  | (1.0) |  |  | (0.3) |
Income before income taxes | 24.1 |  |  | 25.7 |  |  | 79.8 |  |  | 77.4 |
Income tax expense | (7.0) |  |  | (6.5) |  |  | (21.0) |  |  | (19.7) |
Income from discontinued operations, net of taxes | $ | 17.1 |  |  | 19.2 |  |  | 58.8 |  |  | 57.7 |
The following table summarizes the major classes of assets and liabilities of the Distribution business that were classified as held for sale in the consolidated balance sheets as of September 30, 2022 and December 31, 2021:
(In millions) | September 30, 2022 |  |  | December 31, 2021
Assets held-for-sale: |  |  |  |
Accounts receivable, net | $ | 211.9 |  |  |  | $ | 202.4 |
Inventories, net | 132.4 |  |  |  | 155.3 |
Property, net | 3.5 |  |  |  | 3.9 |
Goodwill | 1.6 |  |  |  | 1.6 |
Other assets | 18.4 |  |  |  | 19.0 |
Total assets held-for-sale | $ | 367.8 |  |  |  | $ | 382.2 |
Liabilities held-for-sale: |  |  |  |
Accounts payable | $ | 145.3 |  |  |  | $ | 124.4 |
Other liabilities | 25.0 |  |  |  | 30.0 |
Total liabilities held-for-sale | $ | 170.3 |  |  |  | $ | 154.4 |
| September 30, 2022 |  |  | December 31, 2021
Assets held-for-sale: |  |  |  |
Current | $ | 367.8 |  |  |  | $ | 360.2 |
Non-current | $ | — |  |  |  | $ | 22.0 |
Liabilities held-for-sale: |  |  |  |
Current | $ | 170.3 |  |  |  | $ | 141.3 |
Non-current | $ | — |  |  |  | $ | 13.1 |

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