Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

The Company's former paper mill in Medan, Indonesia and closed paper mill in San Pedro, Philippines have been reported as discontinued operations. Both of these operations were previously presented as a component of the EP segment. The sale of the Indonesia mill was finalized in the second quarter of 2013 and a $1.6 million non-cash loss was recorded in discontinued operations. The sale of the Philippines mill was finalized in the fourth quarter of 2013 and resulted in a gain of $1.6 million. 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 Assets and Accrued Expenses within the consolidated balance sheets were the following major classes of assets and liabilities, respectively, associated with the discontinued operations ($ in millions):

	December 31, 2015		December 31, 2014
Assets of discontinued operations:
Current assets	$	1.1	$	1.6
Other assets	2.6		2.3
Liabilities of discontinued operations:
Current liabilities	0.2		0.1

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

	For the Years Ended December 31,
	2015			2014		2013
Net sales	$	—		$	—	$	7.1
Restructuring and impairment expense	—			—		1.4
Other income (expense)	(0.7		)	—		—
Loss from discontinued operations before income taxes	(0.7		)	—		(2.6		)
Income tax (provision) benefit	(0.1		)	—		0.2
Loss from discontinued operations	(0.8		)	—		(2.4		)