Discontinued Operations

The operating results for the Legacy Businesses are presented in our Condensed Consolidated Statements of Operations as discontinued operations for all periods presented and reflect revenues and expenses that are directly attributable to these businesses that were eliminated from our ongoing operations.

The key components of the results of discontinued operations were as follows:



	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2018			2017			2018			2017
Net revenue	$	1.4		$	—		$	1.4		$	—
Cost of goods sold	1.3			—			1.3			—
Gross profit	0.1			—			0.1			—
Selling, general and administrative	0.3			0.9			0.7			2.9
Restructuring and other	(0.1		)	(0.5		)	—			(0.4		)
Other (income) expense	(0.7		)	1.0			(0.7		)	0.9
Loss from discontinued operations, before income taxes	0.6			(1.4		)	0.1			(3.4		)
Income tax benefit	0.1			0.2			0.2			0.2
Gain (Loss) from discontinued operations, net of income taxes	$	0.7		$	(1.2	)	$	0.3		$	(3.2	)

Net income of discontinued operations for the three and six months ended June 30, 2018 increased by $1.9 million and $3.5 million, respectively, compared to the same periods last year mainly due to a decrease in selling, general and administrative expenses and translation impact.

Current liabilities of discontinued operations of $6.2 million as of June 30, 2018 included $2.0 million of accounts payable, $0.6 million of customer credit and rebate accruals, $0.7 million due to IOENGINE, LLC (“IOENGINE”) on June 30, 2019 and $2.9 million of other current liability amounts. Current liabilities of discontinued operations of $5.3 million as of December 31, 2017 included accounts payable of $0.9 million, $0.7 million of customer credit and rebate accruals and $3.7 million of other current liabilities.

Other liabilities of discontinued operations of $8.3 million as of June 30, 2018 included $3.4 million due to IOENGINE, LLC (“IOENGINE”), $1.0 million due to CMC Magnetic Corp. (“CMC”), $1.0 million of withholding tax, $0.8 million of tax contingencies, and $2.1 million of other liabilities. Other liabilities of discontinued operations of $9.1 million as of December 31, 2017 included $4.1 million due to IOENGINE, $1.0 million due to CMC, $1.0 million of withholding tax, $0.9 million of tax contingencies and $2.1 million of other liabilities. See Note 15 - Litigation, Commitments and Contingencies for additional information on the CMC and IOENGINE settlements.