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Divestitures and Held for Sale (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Summary of Amounts Included in Discontinued Operations

The following table provides a summary of amounts included in discontinued operations for the periods indicated (in millions):

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Net sales	$	455.8			$	1,527.2			$	996.7			$	2,733.1
Cost of products sold	312.7				934.5				691.5				1,740.3
Selling, general and administrative expenses	65.8				260.0				142.5				514.1
Restructuring costs, net	1.3				2.5				1.3				5.0
Impairment of goodwill, intangibles and other assets	11.0				454.0				185.7				454.0
Operating income (loss)	65.0				(123.8		)		(24.3		)		19.7
Non-operating expense (income)	5.9				(461.4		)		2.7				(461.0		)
Income (loss) before income taxes	59.1				337.6				(27.0		)		480.7
Income tax expense (benefit)	52.3				129.5				45.6				164.6
Net income (loss)	$	6.8			$	208.1			$	(72.6	)		$	316.1

Schedule of Major Classes of Assets and Liabilities Held for Sale

The following table presents information related to the major classes of assets and liabilities that were classified as assets and liabilities held for sale in the condensed consolidated balance sheets as of the dates indicated (in millions):

	June 30, 2019				December 31, 2018
Accounts receivable, net	$	331.6			$	411.7
Inventories	218.1				338.7
Prepaid expenses and other	19.7				42.8
Property, plant and equipment, net	304.1				515.9
Operating lease assets, net	41.6				—
Goodwill	880.9				942.4
Other intangible assets, net	741.0				1,270.8
Other assets	8.7				12.9
Current assets held for sale	$	2,545.7			$	3,535.2
Accounts payable	$	180.1			$	256.7
Accrued compensation	38.2				57.0
Other accrued liabilities	145.0				154.3
Deferred income taxes	137.1				251.7
Operating lease liabilities	29.3				—
Other liabilities	8.3				15.1
Current liabilities held for sale	$	538.0			$	734.8

X

- Definition

Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss).

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Tabular disclosure of information 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.

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