Discontinued Operations

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Note 4 — Discontinued Operations

The operating results for the Legacy Businesses and the Nexsan Business 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
	March 31,
(In millions)	2020		2019
Net revenue	$	—	$	0.1
Cost of goods sold		—		0.1
Gross profit		—		—
Selling, general and administrative		—		0.3
Other income		—		(0.6	)
Income from discontinued operations, before income taxes		—		0.3
Income on sale of discontinued businesses, before income taxes		—		9.6
Income tax benefit		—		0.6
Income from discontinued operations, net of income taxes	$	—	$	10.5

Net income of discontinued operations for the three months ended March 31, 2020 decreased by $10.5 million compared to the same period last year due to the sale of the Imation Subsidiaries.