Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2012

Service Experts [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of net trade sales and pre-tax operating losses

A summary of net trade sales, pre-tax operating income (losses) and other supplemental information for our Service Experts business is detailed below (in millions):



	For the Years Ended December 31,
	2012			2011			2010
Net trade sales⁽¹⁾	$	385.1		$	448.4		$	514.8
Pre-tax operating (loss) income⁽¹⁾⁽²⁾	(50.8		)	(10.5		)	2.6

⁽¹⁾ Excludes eliminations of intercompany sales and any associated profit.

⁽²⁾ Pre-tax operating loss for the year ended December 31, 2012 includes a $20.5 million goodwill impairment loss (see impairment discussion below).

Assets and liabilities of the discontinued operations

The assets and liabilities of the Service Experts business are classified as held for sale as of December 31, 2012 and are carried at their fair values less costs to sell, based on indications of market value through our pursuit of strategic alternatives for the business. The assets and liabilities of the Service Experts business include the following in the accompanying Consolidated Balance Sheets (in millions):



	As of December 31,
	2012		2011
Assets of discontinued operations:
Accounts receivable, net	$	11.2	$	14.4
Inventories, net	4.8		6.3
Property, plant and equipment, net	3.6		3.8
Goodwill and intangible assets, net	66.2		83.2
Deferred income taxes	5.5		10.1
Other assets	7.3		7.7
Liabilities of discontinued operations:
Accounts payable	$	16.7	$	16.0
Accrued expenses	38.5		40.1
Deferred income taxes	—		3.7
Other liabilities	—		0.2

Hearth [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Summary of net trade sales and pre-tax operating losses

A summary of net trade sales and pre-tax operating losses for our Hearth business is detailed below (in millions):



	For the Years Ended December 31,
	2012			2011			2010
Net trade sales	$	23.5		$	81.5		$	78.9
Pre-tax operating loss ⁽¹⁾	(13.7		)	(26.3		)	(25.2		)
Gain (loss) on sale of business	(0.9		)	—			—

⁽¹⁾

Pre-tax operating loss includes a $6.3 million first quarter 2012 pre-tax charge for the write-down of net assets to their estimated fair value and a $6.3 million settlement charge in the second quarter of 2012 related to actuarial losses recognized upon transition of a pension obligation to the acquirer of the Hearth business. Offsetting these charges was a $3.5 million gain in the second quarter of 2012 related to realized foreign currency translation adjustments.

Assets and liabilities of the discontinued operations

The assets and liabilities of the Hearth business include the following in the accompanying Consolidated Balance Sheets (in millions):



	As of December 31,
	2012		2011
Assets of discontinued operations:
Accounts receivable, net	$	—	$	7.3
Inventories, net	—		12.4
Property, plant and equipment, net	—		5.4
Deferred income taxes	—		9.1
Other assets	—		0.8
Liabilities of discontinued operations:
Accounts payable	$	—	$	6.0
Accrued expenses	—		5.2
Other liabilities	—		0.4

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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