Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

The Company's former paper mills in Medan, Indonesia and in San Pedro, Philippines have been reported as discontinued operations. The sale of the Indonesia mill was completed in the second quarter of 2013. The physical assets at the Philippines paper mill were sold during the fourth quarter of 2013. For all periods presented, results of these mills have been removed from each individual line within the statements of income and the operating activities section of the statements of cash flow. In each case, a separate line has been added for the net results of discontinued operations.

Included in Other Current Assets, Other Assets and Accrued Expenses within the condensed consolidated balance sheet are the following major classes of assets and liabilities, respectively, associated with the discontinued operations ($ in millions):

	June 30, 2014		December 31, 2013
Assets of discontinued operations:
Current assets	$	1.1	$	2.0
Other assets	3.9		3.1
Liabilities of discontinued operations:
Current liabilities	0.5		0.6

Summary financial results of discontinued operations were as follows ($ in millions):

	Three Months Ended					Six Months Ended
	June 30, 2014		June 30, 2013			June 30, 2014		June 30, 2013
Net sales	$	—	$	2.0		$	—	$	6.4
Restructuring and impairment expense	—		1.5			—		1.4
Loss on disposal	—		(1.6		)	—		(1.6		)
Loss from discontinued operations before income taxes	—		(3.6		)	—		(4.0		)
Income tax benefit	—		0.8			—		0.6
Loss from discontinued operations	—		(2.8		)	—		(3.4		)