Business combinations, discontinued operations and related transactions (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Condensed Income Statement and Balance Sheet

Selected financial data for the operations of the disposed furniture Components business is presented below:


	Years ended December 31,
	2010			2011		2012
	(In millions)
Income statement:
Net sales	$	59.1		$	59.0	$	60.7

Operating income	$	3.4		$	9.1	$	7.4

Income (loss) from discontinued operations:
Income before taxes	$	3.5		$	9.1	$	7.2
Income tax expense		4.0			5.0		3.5

Income (loss) from discontinued operations, net of tax		(.5	)		4.1		3.7

Gain on sale of discontinued operations:
Gain on sale		—			—		23.7
Income tax expense		—			—		1.9

Gain on sale discontinued operations, net of tax		—			—		21.8

Total discontinued operations, net of tax		(.5	)		4.1		25.5

Noncontrolling interest in income from discontinued operations		.1			1.1		1.0
Noncontrolling interest in gain on sale of discontinued operations		—			—		6.1

Total noncontrolling interest in discontinued operations		.1			1.1		7.1

Total discontinued operations, net of tax and noncontrolling interest	$	(.4	)	$	3.0	$	18.4

Major classes of assets and liabilities of discontinued operations included in our Consolidated Balance Sheet at December 31, 2011 are as follows (in millions):


Cash	$	6.3
Accounts receivables		6.1
Inventory		7.6
Other current assets		.6
Goodwill		13.6
Property and equipment, net		17.4
Other noncurrent assets		.3

Total assets	$	51.9

Current liabilities	$	7.9
Noncurrent liabilities		3.3

Total liabilities	$	11.2

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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