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Discontinued Operations and Disposal Groups (Tables) | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Condensed Income Statement | Below is a reconciliation of line items constituting pre-tax income from discontinued operations to the after-tax income from discontinued operations as reported on our Consolidated Statement of Operations:
| For The Years Ended December 31,
| 2024 | 2023 | 2022
Net sales | $ | 870.3 |  | $ | 1,023.4 |  | $ | 950.2 |
Cost of sales | 733.0 |  | 892.6 |  | 906.0 |
Selling, general and administrative expenses | 26.2 |  | 29.4 |  | 23.0 |
Other operating charges, net | 14.4 |  | 2.4 |  | 6.6 |
Income from discontinued operations | 96.7 |  | 99.1 |  | 14.6 |
Non-operating expense | (23.4) |  | (20.5) |  | (23.4) |
Income (loss) from discontinued operations before income taxes | 73.3 |  | 78.6 |  | (8.8) |
The major components of “Other operating charges, net” included in discontinued operations for the years ended December 31, 2024, 2023 and 2022 are reflected in the table below. These items are considered outside of our core discontinued operations.
| For The Years Ended December 31,
| 2024 | 2023 | 2022
Divestiture related costs | $ | 12.7 |  | $ | — |  | $ | — |
Costs associated with mill closure | — |  | — |  | 0.3 |
Loss on sale or impairment associated with assets | 0.4 |  | 2.4 |  | 4.7 |
Business improvement and other expenses | 1.3 |  | — |  | 1.6 |
| $ | 14.4 |  | $ | 2.4 |  | $ | 6.6 |
Condensed Balance Sheet | The carrying amounts of major components of assets and liabilities included as part of discontinued operations are as follows:
| December 31, 2023
Assets of discontinued operations: |
Receivables, net of allowance for current expected credit losses | $ | 88.4 |
Inventories, net | 158.6 |
Other current assets | 0.5 |
Property, plant and equipment, net | 629.4 |
Other assets, net | 28.5 |
Total assets of discontinued operations | 905.4 |
Liabilities of discontinued operations: |
Current portion of long-term debt | 0.8 |
Accounts payable and accrued liabilities | 89.6 |
Long-term debt | 22.4 |
Liability for pension and other postretirement employee benefits | 1.2 |
Deferred tax liabilities and other long-term obligations | 114.5 |
Total liabilities of discontinued operations | 228.6 |
Net assets of discontinued operations | $ | 676.8 |
Disposal Groups, Including Discontinued Operations | Operating and investing cash flows of the discontinued operation are presented in the following table:
| Twelve Months Ended December 31,
| 2024 | 2023 | 2022
Net cash provided by operating activities of discontinued operations | $ | 143.7 |  | $ | 121.3 |  | $ | 68.9 |
Net cash used in investing activities of discontinued operations | (11.4) |  | (18.8) |  | (8.0) |

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