Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations And Disposal Groups [Abstract]

4. Discontinued Operations

On March 4, 2016, Manitowoc completed the Spin-Off. The financial results of MFS are presented as loss from discontinued operations, net of income taxes in the Consolidated Statements of Operations. Concurrent with the Spin-Off, the Company received a $1,361.7 million dividend from MFS. The following table presents the financial results of MFS through the date of the Spin-Off for the indicated period and do not include corporate overhead allocations:

Major classes of line items constituting earnings from discontinued operations before income taxes related to MFS

	2016
Net sales	$	219.6

Cost of sales		141.5
Engineering, selling and administrative expenses		48.3
Amortization of intangible assets		5.2
Asset impairment expense		—
Restructuring expense		0.3
Separation expense		27.7
Other		—
Total operating costs and expenses		223.0
Operating loss		(3.4	)
Other expense		(2.2	)
Loss from discontinued operations before income taxes		(5.6	)
Provision for income taxes		0.6
Loss from discontinued operations, net of income taxes (1)	$	(6.2	)

(1)

For the year ended December 31, 2016, the Company recorded net losses of $(1.0) million 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, 2018 and 2017.

Costs recorded by the Company during the twelve months ended December 31, 2018 and 2017 related to the Spin-Off were not material. During the twelve months ended December 31, 2016, the Company recorded $27.7 million of costs related to the Spin-Off. These costs consisted primarily of professional and consulting fees and were included in the results of discontinued operations.