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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Selected Financial Data of Businesses Which are Classified as Discontinued Operations | The following table presents the financial results of MFS through the date of the Spin-Off for the indicated periods and do not include corporate overhead allocations:
Major classes of line items constituting earnings from discontinued operations before income taxes related to MFS |  |  |  |  |  |
(in millions) |  | 2016 |  | 2015 |  | 2014
Net sales |  | $ | 219.6 |  |  | $ | 1,570.1 |  |  | $ | 1,581.3 |
Cost of sales |  | 141.5 |  |  | 1,065.6 |  |  | 1,070.7 |
Engineering, selling and administrative expenses |  | 48.3 |  |  | 271.3 |  |  | 284.2 |
Amortization of intangible assets |  | 5.2 |  |  | 31.4 |  |  | 31.8 |
Asset impairment expense |  | — |  |  | 9.0 |  |  | 1.1 |
Restructuring expense |  | 0.3 |  |  | 4.6 |  |  | 2.5 |
Separation expense |  | 27.7 |  |  | 39.4 |  |  | — |
Other |  | — |  |  | 0.9 |  |  | 0.4 |
Total operating costs and expenses |  | 223.0 |  |  | 1,422.2 |  |  | 1,390.7 |
Operating (loss) income |  | (3.4 | ) |  | 147.9 |  |  | 190.6 |
Other (expense) income |  | (2.2 | ) |  | 23.4 |  |  | (1.7 | )
(Loss) income from discontinued operations before income taxes |  | (5.6 | ) |  | 171.3 |  |  | 188.9 |
Provision for taxes on income |  | 0.6 |  |  | 35.9 |  |  | 26.5 |
(Loss) income from discontinued operations, net of income taxes (1) |  | $ | (6.2 | ) |  | $ | 135.4 |  |  | $ | 162.4 |
(1) | For the year ended December 31, 2016, 2015 and 2014, the Company recorded net (losses) income of $(1.0) million, $0.0 million and $(1.0) million, respectively, from various other businesses disposed of prior to 2014. This 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.
No assets or liabilities of MFS are reflected on the Company's Consolidated Balance Sheet as of December 31, 2016. The assets and liabilities of MFS have been classified as discontinued operations and are reflected as such on the Company's Consolidated Balance Sheet as of December 31, 2015. These amounts consisted of the following carrying amounts in each major class at December 31, 2015:
Carrying amounts of major classes of assets and liabilities included as part of discontinued operations related to MFS |  |
(in millions) |  |  | December 31, 2015
Assets |  |  |
Cash and cash equivalents |  |  | $ | 31.9 |
Restricted cash |  |  | 0.6 |
Accounts receivable - net |  |  | 63.8 |
Inventories - net |  |  | 145.9 |
Other current assets |  |  | 12.0 |
Property, plant and equipment - net |  |  | 116.3 |
Goodwill |  |  | 845.8 |
Other intangible assets - net |  |  | 519.5 |
Other non-current assets |  |  | 16.2 |
Long-term assets held for sale |  |  | 3.7 |
Total major classes of assets of discontinued operations |  |  | $ | 1,755.7 |
Liabilities |  |  |
Accounts payable and accrued expenses |  |  | $ | 271.6 |
Current portion of long-term debt |  |  | 0.4 |
Other current liabilities |  |  | 40.0 |
Long-term debt |  |  | 2.3 |
Deferred income taxes |  |  | 167.9 |
Pension obligation |  |  | 29.3 |
Postretirement health and other benefit obligations |  |  | 3.0 |
Other non-current liabilities |  |  | 17.3 |
Total major classes of liabilities of discontinued operations |  |  | $ | 531.8 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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