Discontinued Operations

9 Months Ended

Sep. 30, 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, reflecting 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					Nine Months Ended
	September 30,					September 30,
(In millions)	2020		2019			2020		2019
Net revenue	$	—	$	—		$	—	$	0.1
Cost of goods sold		—		—			—		0.1
Gross profit		—		—			—		—
Selling, general and administrative		—		—			—		0.3
Restructuring and other		—		0.2			—		—
Other income		—		—			—		(0.6	)
Income (loss) from discontinued operations, before income taxes		—		(0.2	)		—		0.3
Income on sale of discontinued businesses, before income taxes		—		—			—		9.6
Income tax benefit		—		—			—		0.9
Income (loss) from discontinued operations, net of income taxes	$	—	$	(0.2	)	$	—	$	10.8

Net income from discontinued operations for the three and nine months ended September 30, 2020 decreased by $0.5 million and $10.8 million, respectively, compared to the same periods last year due to the sale of the Imation Subsidiaries.