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v3.21.2

Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2021
Business Combinations [Abstract] |
Summary of assets acquired and liabilities assumed | The fair value recorded for the assets acquired and liabilities assumed for ESOL is as follows:
|  | Final
(In millions) |  | April 6 2020 |  | Measurement Period Adjustments |  | September 30 2021
Cash and cash equivalents |  | $ | 0.4 |  |  | $ | — |  |  | $ | 0.4 |
Trade accounts receivable |  | 124.1 |  |  | (1.5) |  |  | 122.6 |
Inventory |  | 5.0 |  |  | — |  |  | 5.0 |
Other current assets |  | 0.7 |  |  | (0.7) |  |  | — |
Property, plant and equipment |  | 105.3 |  |  | (3.9) |  |  | 101.4 |
Right-of-use assets |  | 56.0 |  |  | — |  |  | 56.0 |
Goodwill |  | 152.0 |  |  | 1.3 |  |  | 153.3 |
Intangible assets |  | 161.0 |  |  | — |  |  | 161.0 |
Other assets |  | 0.2 |  |  | — |  |  | 0.2 |
Accounts payable |  | (48.6) |  |  | (1.5) |  |  | (50.1) |
Accrued expenses |  | (17.5) |  |  | (1.8) |  |  | (19.3) |
Current portion of operating lease liabilities |  | (16.6) |  |  | — |  |  | (16.6) |
Other current liabilities |  | (6.4) |  |  | (0.2) |  |  | (6.6) |
Environmental liabilities |  | (24.4) |  |  | — |  |  | (24.4) |
Deferred income taxes |  | (15.5) |  |  | (1.5) |  |  | (17.0) |
Operating lease liabilities |  | (39.4) |  |  | — |  |  | (39.4) |
Total identifiable net assets of ESOL |  | 436.3 |  |  | (9.8) |  |  | 426.5 |
Non-compete agreement |  | 2.5 |  |  | — |  |  | 2.5 |
Total identifiable net assets of ESOL, including non-compete agreement |  | $ | 438.8 |  |  | $ | (9.8) |  |  | $ | 429.0 |
Preliminary valuation of identifiable intangible assets and amortization periods | The following table details the valuation of identifiable intangible assets and amortization periods for ESOL and the non-compete agreement entered into by the Company upon acquisition of ESOL:
|  |  |  | Final
(Dollars in millions) |  | Weighted-Average Amortization Period |  | April 6 2020 |  | Measurement Period Adjustments |  | September 30 2021
Permits and rights |  | 22 years |  | $ | 138.0 |  |  | $ | — |  |  | $ | 138.0 |
Customer relationships |  | 10 years |  | 23.0 |  |  | — |  |  | 23.0 |
Total identifiable intangible assets of ESOL |  |  |  | 161.0 |  |  | — |  |  | 161.0 |
Non-compete agreement |  | 4 years |  | 2.5 |  |  | — |  |  | 2.5 |
Total identifiable intangible assets acquired |  |  |  | $ | 163.5 |  |  | $ | — |  |  | $ | 163.5 |
Pro forma information |
|  |  |  | Nine Months Ended
|  |  |  | September 30
(In millions) |  |  |  | 2020 |  |
Pro forma revenues |  |  |  | $ | 1,486.2 |  |  |
Pro forma net income (loss) attributed to Harsco Corporation (including discontinued operations) (a) |  |  |  | 1.0 |  |  |
(a) Pro forma net income includes the after tax gain on the sale of IKG of approximately $9 million for the nine months ended September 30, 2020.
Balance sheet positions and financial information included in net income from discontinued operations and statements of cash flows | Certain key selected financial information included in net income (loss) from discontinued operations for the former Harsco Industrial Segment is as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30 |  | September 30
(In millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Amounts for the former Harsco Industrial Segment:
Total revenues |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10,203 |
Cost of products sold |  | — |  |  | — |  |  | — |  |  | 8,082 |
Gain on sale from discontinued business |  | — |  |  | — |  |  | — |  |  | 18,371 |
Income (loss) from discontinued business |  | (856) |  |  | (716) |  |  | (2,859) |  |  | (593) |
Additional amounts allocated to the former Harsco Industrial Segment:
Selling, general and administrative expenses (b) |  | $ | 856 |  |  | $ | 521 |  |  | $ | 2,859 |  |  | $ | 1,710 |
(b) The Company has allocated directly attributable transaction costs to discontinued operations. In addition, this caption includes costs directly attributable to retained contingent liabilities of the Harsco Industrial Segment.

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