Discontinued Operations and Assets Held for Sale (Tables)

6 Months Ended

Mar. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The table below presents the components of the balance sheet accounts classified as assets and liabilities held for sale.
	March 31,		September 30,
	2012		2011
	(in millions)
Assets:
Cash	$	—	$	0.2
Receivables, net	82.6		73.4
Inventories	67.4		61.8
Other current assets	6.6		6.6
Total current assets held for sale	$	156.6	$	142.0
Property, plant and equipment, net	$	—	$	98.1
Identifiable intangible assets	—		8.5
Other noncurrent assets	—		1.1
Total noncurrent assets held for sale	$	—	$	107.7
Liabilities:
Accounts payable	$	38.9	$	48.5
Other current liabilities	6.2		8.4
Total current liabilities held for sale	$	45.1	$	56.9

The table below represents a summary of the operating results for the U.S. Pipe discontinued operations. These operating results do not reflect what they would have been had U.S. Pipe not been classified as a discontinued operation.

	Three months ended						Six months ended
	March 31,						March 31,
	2012			2011			2012			2011
	(in millions)
Net sales	$	100.9		$	75.8		$	197.0		$	150.2
Cost of sales	100.8			83.9			197.9			160.7
Gross profit (loss)	0.1			(8.1		)	(0.9		)	(10.5		)
Operating expenses	2.9			8.6			10.7			16.5
Operating income (loss)	(2.8		)	(16.7		)	(11.6		)	(27.0		)
Interest expense	0.2			—			0.3			—
Loss (gain) on sale of discontinued operations	116.5			—			116.5			—
Income tax expense (benefit)	(18.6		)	(8.4		)	(22.1		)	(12.3		)
Income (loss) from discontinued operations, net of tax	$	(100.9	)	$	(8.3	)	$	(106.3	)	$	(14.7	)