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Discontinued Operations
 6 Months Ended
Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
During the fourth quarter of 2013, the company agreed to sell its 50% interest in Manitowoc Dong Yue Heavy Machinery Co., Ltd. (“Manitowoc Dong Yue” or the “joint venture”), a consolidated entity, which produced mobile and truck-mounted hydraulic cranes in China, to its joint venture partner, Tai’an Taishan Heavy Industry Investment Co., Ltd., for a nominal amount. Consequently, the joint venture has been classified as a discontinued operation in the company's financial statements. The transaction subsequently closed on January 21, 2014. The transaction resulted in a $9.9 million loss on sale, net of tax during the first quarter of 2014.
Upon closing of the transaction in the first quarter of 2014, the company also paid an additional $7.2 million to Manitowoc Dong Yue for a portion of debt the joint venture had outstanding with third parties. After this payment, Manitowoc Dong Yue had approximately $17.3 million of third party debt outstanding under a loan agreement entered into during the first quarter of 2014 that the company has fully guaranteed. The loan is fully secured by Manitowoc Dong Yue’s fixed assets as well as finished goods inventory. Manitowoc Dong Yue is repaying the loan over a four-year period, with the last payment due on December 31, 2017. Prior to the closing of the transaction in 2014, the company provided an additional $8.6 million of loans to Manitowoc Dong Yue. The company agreed to forgive the additional loans and accrued interest owed by Manitowoc Dong Yue to the company and its affiliates, and the forgiveness resulted in income of $4.3 million to the joint venture partner shown as part of net earnings attributable to noncontrolling interest, net of income taxes, which effectively increased net loss attributable to Manitowoc shareholders for the quarter ended June 30, 2015.
The following selected financial data of the Manitowoc Dong Yue business for the three and six months ended June 30, 2015 and 2014 is presented for informational purposes only and does not necessarily reflect what the results of operations would have been had the business operated as a stand-alone entity. There was no general corporate expense allocated to discontinued operations for this business during the periods presented.
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(in millions)
 
2015
 
2014
 
2015
 
2014
Net sales
 
$
—

 
$
—

 
$
—

 
$
0.3

 
 
 
 
 
 
 
 
 
Pretax loss from discontinued operation
 
$
—

 
$
—

 
$
—

 
$
(0.8
)
Provision for taxes on earnings
 
—

 
—

 
—

 
—

Net loss from discontinued operation
 
$
—

 
$
—

 
$
—

 
$
(0.8
)
 
The following selected financial data of various other businesses disposed of prior to 2014, consisting primarily of administrative costs, for the three and six months ended June 30, 2015 and 2014, is presented for informational purposes only and does not necessarily reflect what the results of operations would have been had the businesses operated as stand-alone entities.  There was no general corporate expense or interest expense allocated to discontinued operations for these businesses during the periods presented.
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(in millions)
 
2015
 
2014
 
2015
 
2014
Net sales
 
$
—

 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
Pretax earnings (loss) from discontinued operations
 
$
0.2

 
$
(0.6
)
 
$
—

 
$
(0.8
)
Provision (benefit) for taxes on earnings
 
0.1

 
(0.3
)
 
—

 
(0.3
)
Net earnings (loss) from discontinued operations
 
$
0.1

 
$
(0.3
)
 
$
—

 
$
(0.5
)