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Plant Closures and Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2020
Discontinued Operations And Disposal Groups [Abstract]  
Summary of Restructuring Activities and Related Reserves

Details of the restructuring activities and related reserves are as follows:

 

 

 

Severance and

employee benefits

 

 

Asset

retirement

 

 

Other

 

 

Total

 

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserve at December 31, 2018

 

$

1.7

 

 

$

3.6

 

 

$

2.8

 

 

$

8.1

 

Accrual

 

 

0.0

 

 

 

3.4

 

 

 

3.0

 

 

 

6.4

 

Costs charged against assets

 

 

0.0

 

 

 

0.0

 

 

 

(3.0

)

 

 

(3.0

)

Reversal of accrued charges

 

 

(0.3

)

 

 

(0.1

)

 

 

0.0

 

 

 

(0.4

)

Cash paid

 

 

(0.5

)

 

 

(6.2

)

 

 

(0.3

)

 

 

(7.0

)

Currency translation

 

 

0.0

 

 

 

0.0

 

 

 

(0.1

)

 

 

(0.1

)

Reserve at December 31, 2019

 

$

0.9

 

 

$

0.7

 

 

$

2.4

 

 

$

4.0

 

Accrual

 

 

0.5

 

 

 

2.9

 

 

 

3.4

 

 

 

6.8

 

Costs charged against assets

 

 

0.0

 

 

 

0.0

 

 

 

(3.4

)

 

 

(3.4

)

Reversal of accrued charges

 

 

(0.3

)

 

 

0.0

 

 

 

0.0

 

 

 

(0.3

)

Cash paid

 

 

(0.2

)

 

 

(0.8

)

 

 

(0.3

)

 

 

(1.3

)

Currency translation

 

 

0.0

 

 

 

0.0

 

 

 

0.2

 

 

 

0.2

 

Reserve at December 31, 2020

 

$

0.9

 

 

$

2.8

 

 

$

2.3

 

 

$

6.0

 

Schedule of Net Sales and Operating (Loss) Profit from Discontinued Operations

Net sales and operating (loss) profit from discontinued operations for the years ended December 31, 2020, 2019 and 2018 consist of the following amounts:

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

31.6

 

 

$

135.8

 

 

$

147.5

 

Operating (loss) profit

 

 

(5.0

)

 

 

5.8

 

 

 

26.0

 

Schedule of Net cash Inflows and Outflows From Discontinued Operations

The cash flows related to KJCC have not been restated in the Consolidated Statement of Cash Flows. Net cash inflows and outflows from discontinued operations for the years ended December 31, 2020, 2019 and 2018 consist of the following amounts:

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

0.7

 

 

$

21.4

 

 

$

10.4

 

Net cash used in investing activities

 

 

(0.9

)

 

 

(3.8

)

 

 

(3.3

)

Net cash used in financing activities

 

 

0.0

 

 

 

(19.8

)

 

 

(12.6

)

Effect of exchange rate changes on cash

 

 

(0.5

)

 

 

(0.3

)

 

 

(0.7

)

Net decrease in cash and cash equivalents

 

 

(0.7

)

 

 

(2.5

)

 

 

(6.2

)

Schedule of Carrying Amount of Assets and Liabilities by Major Class Classified as Held for Sale

The following represents the carrying amount of assets and liabilities, by major class, classified as held for sale on the Consolidated Balance Sheet as of December 31, 2019:

 

 

December 31,

2019

 

(Dollars in millions)

 

 

 

 

Assets

 

 

 

 

Cash and cash equivalents

 

$

0.7

 

Accounts receivable

 

 

2.2

 

Income tax receivable

 

 

0.8

 

Inventories, net

 

 

10.6

 

Other current assets

 

 

2.8

 

Total current assets held for sale

 

 

17.1

 

Property, plant and equipment, net

 

 

56.6

 

Operating lease right-of-use assets

 

 

1.2

 

Other assets

 

 

1.5

 

Total non-current assets held for sale

 

 

59.3

 

Total assets held for sale

 

$

76.4

 

Liabilities

 

 

 

 

Accounts payable

 

$

7.1

 

Accrued liabilities

 

 

4.7

 

Current operating lease liabilities

 

 

0.1

 

Total current liabilities held for sale

 

 

11.9

 

Deferred tax liabilities

 

 

0.6

 

Operating lease liabilities

 

 

1.1

 

Other long-term liabilities

 

 

23.4

 

Total non-current liabilities held for sale

 

 

25.1

 

Total liabilities held for sale

 

$

37.0