Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2013

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 losses and other supplemental information for our Service Experts business is detailed below (in millions):



	For the Three Months Ended March 31,
	2013			2012
Net trade sales⁽¹⁾	$	73.5		$	81.9
Pre-tax operating income (loss) ⁽¹⁾⁽²⁾	(15.1		)	(14.3		)
Gain on sale of business	1.7			—

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

⁽²⁾ Pre-tax operating loss for the three months ended March 31, 2013 includes $2.3 million in retention bonus and severance costs and $0.2 million in stock-based compensation expense

Assets and liabilities of the discontinued operations

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



	As of March 31, 2013		As of December 31, 2012
Assets of discontinued operations:
Accounts receivable, net	$	—	$	11.2
Inventories, net	—		4.8
Property, plant and equipment, net	—		3.6
Goodwill and intangible assets, net ⁽¹⁾	—		66.2
Deferred income taxes	—		5.5
Other assets	—		7.3
Liabilities of discontinued operations:
Accounts payable	$	—	$	16.7
Accrued expenses	—		38.5

⁽¹⁾ Goodwill was $66.0 million as of December 31, 2012 and included accumulated impairment charges of $228.5 million, of which $208.0 million was from years prior to 2012 and $20.5 million was from 2012. No impairments were recorded in 2013, and all goodwill was eliminated on March 22, 2013 as a result of the sale of the business.

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 Three Months Ended March 31,
	2013		2012
Net trade sales	$	—	$	18.6
Pre-tax operating income (loss)⁽¹⁾	0.1		(8.5		)


⁽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.

Assets and liabilities of the discontinued operations

accompanying Consolidated Balance Sheets as of March 31, 2013 or December 31, 2012.

- 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.

+ References+ Details