Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Major Class of Assets and Liabilities Related to Discontinued Operations

The following represents major classes of assets and liabilities related to the discontinued operations included in our unaudited condensed consolidated balance sheets as of the following dates:


*(In millions)*	March 31, 2016		December 31, 2015
Receivables, net	$	-	$	17.6
Inventories		0.6		18.5
Prepaid expenses and other		-		0.8
Property, plant and equipment, net		-		61.1
Other assets, net		-		0.9

Total assets	$	0.6	$	98.9


Accounts payable	$	-	$	3.2
Accrued compensation		-		2.0
Other accrued liabilities		5.5		10.3
Lease financing obligation		-		35.6

Total liabilities	$	5.5	$	51.1

Net assets (liabilities)	$	(4.9)	$	47.8

Operating Results of the Discontinued Operations

Operating results of the discontinued operations for the three month periods ended March 31, 2016 and 2015 are shown below:


	Three Months Ended March 31,
*(In millions)*	2016		2015
Net sales	$	32.3	$	163.0
Operating costs and expenses:
Cost of sales		33.1		164.0
Selling, general and administrative expenses		4.1		5.4
Restructuring and divestiture costs		-		0.3

Total operating costs and expenses		37.2		169.7

Operating loss from discontinued operations		(4.9)		(6.7)
Interest expense, net		(1.1)		(1.1)
Foreign currency exchange gain (loss)		(0.3)		0.6
Net loss from the sale of business		(25.1)		-

Loss from discontinued operations		(31.4)		(7.2)
Benefit from income taxes of discontinued operations		(8.4)		(0.8)

Net loss from discontinued operations	$	(23.0)	$	(6.4)

Depreciation, Amortization and Capital Expenditures Associated with Discontinued Operations

Certain information pertaining to depreciation and amortization as well as capital expenditures associated with our discontinued operations for the three month periods ended March 31, 2016 and 2015 are included below:


	Three Months Ended March 31,
*(In millions)*		2016		2015
Depreciation and amortization	$	2.1	$	2.8
Capital expenditures		1.0		1.7