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Discontinued Operations and Disposal Groups | 6 Months Ended
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Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure | Assets Held for Sale and Discontinued Operations On June 30, 2021, ASGN entered into a definitive agreement to sell its Oxford business to an affiliate of H.I.G. Capital for $525.0 million in cash (approximately $415.0 million in estimated net proceeds after income taxes). The sale is expected to close in August 2021. The sale of the Oxford business is a strategic shift that provides for the redeployment of capital on acquisitions of businesses that enhance ASGN's consulting capabilities and services in the commercial and federal government sectors. As a result of the decision to divest the Oxford business, the financial results of that business are reported as discontinued operations in the accompanying statements of operations, and its assets and liabilities are reflected as amounts held for sale in the accompanying balance sheets. The Company's reporting segments have also been changed for the effects of the planned divestiture, as described in Note 9. Segment Reporting. The following table presents the major classes of assets and liabilities of the Oxford business that are classified as held for sale in the accompanying balance sheets (in millions).
| June 30, 2021 |  | December 31, 2020
Accounts receivable, net | $ | 96.2 |  |  | $ | 75.9 |
Prepaid expenses and income taxes | 4.0 |  |  | 0.8 |
Other current assets | 1.0 |  |  | 0.7 |
Property and equipment, net | 13.5 |  |  | 14.5 |
Operating lease right-of-use assets | 9.5 |  |  | 11.9 |
Identifiable intangible assets, net | 17.7 |  |  | 18.0 |
Goodwill | 197.0 |  |  | 197.7 |
Other non-current assets | 3.0 |  |  | 2.4 |
Total assets held for sale | $ | 341.9 |  |  | $ | 321.9 |
Accounts payable | $ | 1.8 |  |  | $ | 1.5 |
Accrued payroll and contract professional pay | 39.3 |  |  | 27.5 |
Operating lease liabilities | 4.2 |  |  | 5.1 |
Other current liabilities | 7.3 |  |  | 5.6 |
Operating lease liabilities, long-term | 5.7 |  |  | 7.5 |
Other long-term liabilities | 3.8 |  |  | 4.0 |
Total liabilities held for sale | $ | 62.1 |  |  | $ | 51.2 |
The following table summarizes the results of operations of the Oxford business that are being reported as discontinued operations (in millions):
| Three Months Ended |  | Six Months Ended |  |
June 30, |  | June 30, |
| 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Revenues | $ | 134.1 |  |  | $ | 104.9 |  |  | $ | 252.8 |  |  | $ | 230.0 |  |  |  |  |
Costs of services | 92.6 |  |  | 71.6 |  |  | 174.0 |  |  | 158.4 |  |  |  |  |
Gross profit | 41.5 |  |  | 33.3 |  |  | 78.8 |  |  | 71.6 |  |  |  |  |
Selling, general and administrative expenses | 32.9 |  |  | 26.2 |  |  | 62.5 |  |  | 58.1 |  |  |  |  |
Amortization of intangible assets | 0.1 |  |  | 0.2 |  |  | 0.3 |  |  | 0.3 |  |  |  |  |
Income before income taxes | 8.5 |  |  | 6.9 |  |  | 16.0 |  |  | 13.2 |  |  |  |  |
Provision for income taxes | 1.6 |  |  | 1.6 |  |  | 3.2 |  |  | 3.2 |  |  |  |  |
Income from discontinued operations, net of income taxes | $ | 6.9 |  |  | $ | 5.3 |  |  | $ | 12.8 |  |  | $ | 10.0 |  |  |  |  |
Select cash flow information related to the Oxford business follows (in millions):
| Six Months Ended
June 30,
| 2021 |  | 2020
Net cash provided by operating activities | $ | 11.5 |  |  | $ | 28.4 |
Net cash used in investing activities | (3.2) |  |  | (12.4) |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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