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Disposed and Discontinued Operations Discontinued Operations and Disposal Groups (Tables) | 12 Months Ended
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Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | Management and the Board of Directors periodically conduct strategic reviews of the Company's businesses. On November 28, 2017, the Company completed the sale of its Timing Device Business, part of the PD segment, for $130.0 million, plus purchase price adjustments for a net amount of $135.1 million. The Company recorded a gain of $63.9 million as a result of the sale, which included $0.4 million of gain amounts reclassified from Accumulated other comprehensive loss into earnings related to currency translation adjustments. The purchase price included $10.0 million held in escrow that was received during the third quarter of 2018 and was previously recorded in the Prepaid and other current assets line on the Consolidated Balance Sheets. On July 7, 2016, the Company completed the sale of its Speaker and Receiver Product Line for $45.0 million in cash, less purchase price adjustments for a net amount received of $40.6 million. The Company recorded a loss of $25.6 million as a result of the sale, which included $26.9 million of loss amounts reclassified from Accumulated other comprehensive loss into earnings related to currency translation adjustments. The results of operations and financial positions of the Timing Device Business and Speaker and Receiver Product Line have been reclassified to discontinued operations for all periods presented as these disposals represent strategic shifts that have a major effect on the Company's results of operations. Summarized results of the Company's discontinued operations are as follows:
| Years Ended December 31,
(in millions) | 2018 |  | 2017 |  | 2016
Revenues | $ | — |  |  | $ | 92.2 |  |  | $ | 156.4 |
Cost of goods sold | — |  |  | 61.5 |  |  | 136.1 |
Impairment charges | — |  |  | 0.4 |  |  | 0.4 |
Restructuring charges - cost of goods sold | — |  |  | 0.1 |  |  | 8.9 |
Gross profit | — |  |  | 30.2 |  |  | 11.0 |
Research and development expenses | — |  |  | 7.7 |  |  | 15.1 |
Selling and administrative expenses | — |  |  | 18.5 |  |  | 26.9 |
Restructuring charges | — |  |  | 0.2 |  |  | 3.4 |
Operating expenses | — |  |  | 26.4 |  |  | 45.4 |
Other (income) expense, net | (0.2 | ) |  | 1.3 |  |  | (0.9 | )
(Gain) loss on sale of business (1) | (1.6 | ) |  | (62.3 | ) |  | 25.6 |
Earnings (loss) from discontinued operations before taxes (2) | 1.8 |  |  | 64.8 |  |  | (59.1 | )
(Benefit from) provision for income taxes | (0.3 | ) |  | 3.0 |  |  | 3.0 |
Earnings (loss) from discontinued operations, net of tax | $ | 2.1 |  |  | $ | 61.8 |  |  | $ | (62.1 | )
(1) The Company recorded a change in estimated purchase price adjustments related to the Timing Device Business of $1.8 million during the third quarter of 2018. (2) The Company's policy is to not allocate interest expense to discontinued operations unless it is directly attributable to the operations. The results of operations of the Timing Device Business and Speaker and Receiver Product Line did not have any such interest expense in the periods presented. Assets and liabilities of discontinued operations are summarized below:
(in millions) | December 31, 2017
Assets of discontinued operations: |
Receivables | $ | 1.2 |
Prepaid and other current assets | 0.5 |
Total current assets | 1.7 |
Total assets (1) | $ | 1.7 |
Liabilities of discontinued operations: |
Accounts payable | $ | 0.1 |
Other current liabilities | 5.5 |
Total current liabilities | 5.6 |
Total liabilities (1) | $ | 5.6 |
(1) In connection with the sale of the Timing Device Business, the Company retained certain obligations related to employees of the Timing Device Business. As these arrangements were settled during the year ended December 31, 2018, there were no assets and liabilities of discontinued operations as of December 31, 2018. The following table presents the depreciation, amortization, and capital expenditures related to discontinued operations:
| Years Ended December 31,
(in millions) | 2017 |  | 2016
Depreciation | $ | 2.3 |  |  | $ | 3.3 |
Amortization of intangible assets | 1.2 |  |  | 1.4 |
Capital expenditures | 2.1 |  |  | 6.5 |
There was no deprecia

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