Our Superform aluminum superplastic forming business which operated from sites in the U.S. and the U.K, and our U.S. aluminum gas cylinder business were historically included in the Gas Cylinders segment. As a result of our decision to exit non-strategic aluminum product lines, we have reflected the results of operations of these businesses as discontinued operations in the Condensed Consolidated Statements of Income for all periods presented.

Our U.S. aluminum gas cylinder business was sold in March 2021 for $21.0 million. Subsequent to the First Quarter, $0.8 million of working capital adjustments were made, resulting in final proceeds of $20.2 million.

In September 2021, our Superform U.K. business was sold for $4.1 million, made up of $3.5 million cash received and $0.6 million of non-contingent, deferred consideration,receivable by September 30, 2022.

The assets and liabilities of the Superform U.S. business has been presented within Current assets held-for-sale and Current liabilities held-for-sale in the consolidated balance sheets for 2021 and 2020. Our Superform U.K. and U.S. aluminum gas cylinders business, along with our Superform U.S business has been presented within Current assets held-for-sale and Current liabilities held-for-sale in 2020. The Company has determined that the carrying value of the held-for-sale assets is recoverable and as a result no loss allowances have been recognized.


	Third Quarter				Year-to-date
In millions	2021		2020			2021		2020
Net sales	$	4.9	$	12.7		$	19.5	$	41.0
Cost of goods sold	(4.7)		(13.3)			(20.4)		(40.4)
Gross profit / (loss)	$	0.2	$	(0.6)		$	(0.9)	$	0.6
Selling, general and administrative expenses	(1.4)		(1.4)			(3.1)		(4.1)
Restructuring charges	—		(0.1)			—		(0.1)
Other income	—		2.3			—		2.3
Operating (loss) / profit	$	(1.2)	$	0.2		$	(4.0)	$	(1.3)
Tax credit	0.5		—			1.2		—
Net (loss) / income	$	(0.7)	$	0.2		$	(2.8)	$	(1.3)

The earnings per share for discontinued operations for the first nine months of 2021 and 2020 was $0.14 and a loss of $0.05, respectively. The positive result in 2021 was the result of the $6.6 million gain on disposition of discontinued operations, partially offset by the $2.8 million loss from operations.

In the First Quarter of 2021, the Company sold its U.S. aluminum gas cylinders business for $20.2 million, after working capital adjustments, which resulted in a gain on sale of $6.7 million, net of a $2.0 million tax charge which was recognized in the First Quarter of 2021.

In the Third Quarter of 2021, the Company recorded a $0.1 million loss on the sale of the Superform U.K business, see below table. There was an additional $0.4 million true up to working capital in relation to the Graham disposal, resulting in a total $0.5 million loss on disposition in the quarter.


	Third Quarter
In millions	2021
Cash consideration received	$	3.5
Deferred consideration payable	0.6
Less
Net assets sold	(4.2)
Gross loss on disposition	(0.1)
Provision for income taxes	—
Net loss on disposition	$	(0.1)


Held-for-sale assets	September 26,		December 31,
In millions	2021		2020
Property, plant and equipment	$	1.1	$	7.9
Right-of-use-assets from operating leases	0.4		3.1
Inventory	2.7		12.6
Accounts and other receivables	2.6		8.7
Held-for-sale assets	$	6.8	$	32.3

Held-for-sale liabilities
Accounts payable	0.6		4.3
Accrued liabilities	0.1		1.5
Other current liabilities	1.0		5.6
Held-for-sale liabilities	$	1.7	$	11.4

Also included within assets held-for-sale, but not disclosed as discontinued operations, in 2021 and 2020 is one building valued at $3.7 million, within our Elektron Segment.


	Third Quarter				Year-to-date
In millions	2021		2020			2021		2020
Cash flows from discontinued operations:
Depreciation	$	0.1	$	0.2		$	0.4	$	0.8

Cash balances are swept into the treasury entities at the end of each day, these sweeps are recorded within operating cash flows in the statements of cash flows.