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Note 22 - Discontinued Operations (Tables) - Flexographic Packaging Segment [Member]
 6 Months Ended
Jun. 30, 2019
Discontinued Operations for Flexographic Packaging Segment

The results of operations of the Business are presented below:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(in millions)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues

 

$

5

 

 

$

38

 

 

$

44

 

 

$

75

 

Cost of revenues

 

 

2

 

 

 

22

 

 

 

28

 

 

 

44

 

Selling, general and administrative expenses

 

 

2

 

 

 

4

 

 

 

10

 

 

 

8

 

Research and development costs

 

 

—

 

 

 

2

 

 

 

2

 

 

 

4

 

Interest expense

 

 

—

 

 

 

7

 

 

 

7

 

 

 

13

 

Gain on divestiture

 

 

(210

)

 

 

—

 

 

 

(210

)

 

 

—

 

Income (loss) from discontinued operations before taxes

 

 

211

 

 

 

3

 

 

 

207

 

 

 

6

 

Provision for income taxes

 

 

4

 

 

 

2

 

 

 

6

 

 

 

5

 

Income (loss) from discontinued operations

 

$

207

 

 

$

1

 

 

$

201

 

 

$

1

 
Discontinued Operations Carrying Amount of Major Assets and Liabilities

The following table presents the aggregate carrying amount of major assets and liabilities of FPD:

 

 

 

June 30,

 

 

December 31,

 

(in millions)

 

2019

 

 

2018

 

ASSETS

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

—

 

 

$

2

 

Trade receivables, net

 

 

1

 

 

 

28

 

Inventories, net

 

 

—

 

 

 

33

 

Property, plant and equipment, net

 

 

—

 

 

 

28

 

Goodwill

 

 

—

 

 

 

20

 

Intangible assets

 

 

—

 

 

 

1

 

Other assets

 

 

—

 

 

 

1

 

Assets of business held for sale

 

$

1

 

 

$

113

 

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

Accounts payable, trade

 

$

—

 

 

$

9

 

Pension and other postretirement liabilities

 

 

—

 

 

 

4

 

Other current liabilities

 

 

—

 

 

 

7

 

Liabilities of business held for sale

 

$

—

 

 

$

20

 
Discontinued Operations for Selected Cash Flow Statement Information

The following table presents cash flow information associated with FPD:

 

 

 

June 30,

 

(in millions)

 

2019

 

 

2018

 

Depreciation

 

$

—

 

 

$

1

 

Amortization

 

 

—

 

 

 

—

 

Capital expenditures

 

 

—

 

 

 

2