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DISPOSITIONS AND SPECIAL GAINS AND CHARGES | 12 Months Ended
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Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
DISPOSITIONS AND SPECIAL GAINS AND CHARGES | DISPOSITIONS AND SPECIAL GAINS AND CHARGES The Company's discontinued operations include the results of the France business sold in August 2018, the SARL Businesses sold in March 2017 and the NATG business sold in December 2015 (see Note 1). On August 31, 2018, the Company closed on the sale of its France-based IT value added reseller business. The Company recorded a pre-tax book gain on the sale of the France business, of approximately $178.9 million for the year ended December 31, 2018. The Company incurred special charges within discontinued operations of $0.0 million, $0.6 million and $30.6 million for the years ended 2019, 2018 and 2017, respectively. For the year ended December 31, 2018, the Company recorded special charges of approximately $0.6 million in discontinued operations. The Company recorded lease reserve adjustments related to its previously exited leased facilities for the discontinued NATG business of approximately $1.7 million and additional legal and professional fees of $0.1 million for ongoing restitution proceedings. Offsetting these expenses were approximately $1.0 million in restitution receipts and $0.2 million in vendor settlement receipts from the discontinued NATG business. For the year ended December 31, 2017, the Company recorded special charges of $30.6 million in discontinued operations. A pre-tax book loss on the sale of the SARL Businesses of approximately $23.7 million was recorded and approximately $6.9 million of additional charges were recorded from the discontinued NATG business, of which $6.2 million primarily related to updating our future lease cash flows and $0.7 million related to ongoing restitution proceedings. The Company has completed the wind-down activities related to the sale of the France business, but may incur additional charges related to statutory tax and other indemnities given at closing. The Company has substantially completed the wind-down activities related to the NATG business, although certain NATG activities related to sublet facilities, settling accounts payable and other contingent liabilities continue. The Company expects that additional NATG wind-down costs incurred during 2020 or later may aggregate up to $1.0 million, which will be presented in discontinued operations. Below is a summary of the impact on net sales, net income (loss) and net income (loss) per share from discontinued operations for the years ended December 31, 2019, 2018 and 2017. Results of discontinued operations are as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Net sales | $ | 0.0 |  |  | $ | 352.0 |  |  | $ | 590.6 |
Cost of sales | 0.0 |  |  | 295.8 |  |  | 498.3 |
Gross profit | 0.0 |  |  | 56.2 |  |  | 92.3 |
Selling, distribution and administrative expenses | 2.1 |  |  | 36.5 |  |  | 74.7 |
Pre-tax book gain on sale of France business | 0.0 |  |  | (178.9 | ) |  | 0.0 |
Special charges, net | 0.0 |  |  | 0.6 |  |  | 30.6 |
Operating (loss) income from discontinued operations | (2.1 | ) |  | 198.0 |  |  | (13.0 | )
Foreign currency exchange (income) loss | 0.0 |  |  | (0.2 | ) |  | 0.8 |
Interest and other expense (income), net | 0.0 |  |  | 0.0 |  |  | 0.3 |
Income (loss) of discontinued operations before income taxes | (2.1 | ) |  | 198.2 |  |  | (14.1 | )
(Benefit) provision for income tax | (0.6 | ) |  | 23.0 |  |  | 11.0 |
Net income (loss) from discontinued operations | $ | (1.5 | ) |  | $ | 175.2 |  |  | $ | (25.1 | )
Net income (loss) per share - basic | $ | (0.04 | ) |  | $ | 4.69 |  |  | $ | (0.68 | )
Net income (loss) per share - diluted | $ | (0.04 | ) |  | $ | 4.62 |  |  | $ | (0.67 | )
In the third quarter of 2019, within continuing operations, the Company's former German branch recorded special gains of approximately $0.8 million related to a buyout for its outstanding lease obligation. The Company recorded special charges of $0.8 million in 2018 and 0.3 million in 2017, within continuing operations, related to updating lease reserves adjustments related to its outstanding NATG business lease obligations. The following table details liabilities related to the exit costs of the sold businesses that remain for 2019 (in millions):
|  | Accrued exit costs
Balance January 1, 2019 |  | $ | 2.8 |
Charged to expense |  | 0.7 |
Paid or otherwise settled |  | (0.7 | )
Balance December 31, 2019 |  | $ | 2.8 |
On January 1, 2019, the Company reclassified approximately $4.3 million of the opening balance of the exit cost liability related to lease obligations to operating lease right-of-use assets. The following table details liabilities related to the exit costs of the sold businesses for 2018 (in millions):
|  | Accrued exit costs
Balance, January 1, 2018 |  | $ | 20.2 |
Charged to expense |  | 2.5 |
Paid or otherwise settled |  | (15.6 | )
Balance, December 31, 2018 |  | $ | 7.1 |

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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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