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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Financial results of discontinued operations | Details on assets and liabilities classified as held for sale in the accompanying condensed consolidated balance sheet as of December 31, 2017 are presented in the following table (in millions):
| December 31, 2017
Assets held for sale - discontinued operations |
Accounts receivable, net of allowances | $ | 1.5 |
Inventories | 198.3 |
Prepaid and other current assets | 2.3 |
Current assets held for sale - discontinued operations | 202.1 |
Property, plant and equipment, net | 150.8 |
Goodwill | 267.3 |
Other intangible assets, net | 0.9 |
Non-current deferred tax assets | 7.1 |
Other assets | 0.4 |
Total assets held for sale - discontinued operations | 628.6 |
Other assets classified as held for sale | 3.9 |
Total assets classified as held for sale | $ | 632.5 |
Liabilities held for sale - discontinued operations |
Accounts payable | $ | 15.5 |
Accrued expenses | 11.2 |
Current liabilities held for sale - discontinued operations | 26.7 |
Deferred tax liabilities | 0.3 |
Other long-term liabilities | 6.9 |
Total liabilities held for sale - discontinued operations | $ | 33.9 |
The following table provides operating and investing cash flow information for our discontinued operations (in millions):
| Six Months Ended June 30,
| 2018 |  | 2017
Operating Activities: |  |  |
Depreciation and amortization | $ | — |  |  | $ | 11.9 |
Stock-based compensation expense | (1.5 | ) |  | 0.8 |
Investing Activities: |  |  |
Capital expenditures | 2.9 |  |  | 3.2 |
The following table summarizes the financial results of our discontinued operations for all periods presented herein (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Net Sales | $ | 89.0 |  |  | $ | 250.1 |  |  | $ | 353.0 |  |  | $ | 500.0 |
Cost of products sold | 65.8 |  |  | 190.0 |  |  | 260.3 |  |  | 378.5 |
Research and development | 0.2 |  |  | 0.6 |  |  | 1.1 |  |  | 1.3 |
Selling, general and other expenses | 10.9 |  |  | 19.0 |  |  | 38.1 |  |  | 35.4 |
Gain on Divestiture | (89.9 | ) |  | — |  |  | (89.9 | ) |  | — |
Other expense, net | 0.1 |  |  | (0.8 | ) |  | 0.4 |  |  | (0.4 | )
Income from discontinued operations before income taxes | 101.9 |  |  | 41.3 |  |  | 143.0 |  |  | 85.2 |
Tax provision from discontinued operations | (67.9 | ) |  | (12.8 | ) |  | (77.5 | ) |  | (29.0 | )
Income from Discontinued Operations, net | $ | 34.0 |  |  | $ | 28.5 |  |  | $ | 65.5 |  |  | $ | 56.2 |

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