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Divestitures and Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2011
Summarized Financial Information for Discontinued Operations
The components of discontinued operations for the three and six months ended June 30 are as follows:
 
 
Three months ended
 
Six months ended
In millions
2011
 
2010
 
2011
 
2010
Net revenues
$
217.8


 
$
240.1


 
$
369.5


 
$
427.6


Pre-tax earnings (loss) from operations
$
(189.7
)
 
$
(32.9
)
 
$
(394.9
)
 
$
(48.5
)
Pre-tax gain (loss) on sale
(33.7
)
 
—


 
(33.6
)
 
(0.4
)
Tax benefit (expense)
8.2


 
(11.0
)
 
14.6


 
(9.1
)
Discontinued operations, net
$
(215.2
)
 
$
(43.9
)
 
$
(413.9
)
 
$
(58.0
)
Discontinued operations by business net of tax [Table Text Block]
Discontinued operations by business for the three and six months ended June 30 are as follows:
 
 
Three months ended
 
Six months ended
In millions
2011
 
2010
 
2011
 
2010
Hussmann, net of tax
$
(183.8
)
 
$
18.0


 
$
(374.2
)
 
$
20.1


Energy Systems, net of tax
0.2


 
(1.5
)
 
0.5


 
(3.0
)
KOXKA, net of tax
(0.4
)
 
(44.9
)
 
(0.7
)
 
(49.4
)
Other discontinued operations, net of tax
(31.2
)
 
(15.5
)
 
(39.5
)
 
(25.7
)
Total discontinued operations, net of tax
$
(215.2
)
 
$
(43.9
)
 
$
(413.9
)
 
$
(58.0
)
Hussmann Divestiture [Member]
  
Net Revenues and After Tax Earnings
Net revenues and after-tax earnings of the Hussmann Business for the three and six months ended June 30 were as follows:
 
Three months ended
 
Six months ended
In millions
2011
 
2010
 
2011
 
2010
Net revenues
$
217.8


 
$
220.3


 
$
369.5


 
$
389.5


After-tax earnings (loss) from operations
$
(183.8
)
**
$
18.0


 
$
(374.2
)
*
$
20.1


Gain (loss) on sale, net of tax
—


 
—


 
—


 
—


Total discontinued operations, net of tax
$
(183.8
)
 
$
18.0


 
$
(374.2
)
 
$
20.1


* Included in discontinued operations for Hussmann for the six months ended June 30, 2011 is an after-tax impairment loss of approximately $384 million.
** Included in discontinued operations for Hussmann in the second quarter of 2011 is an after-tax impairment loss of approximately $198 million.
Scheduled of Assets and Liabilities Held for Sale
The components of assets and liabilities recorded as held for sale on the Condensed Consolidated Balance Sheet as of June 30, 2011 and December 31, 2010 are as follows:
In millions
June 30,

2011
 
December 31,

2010
Assets
 
 
 
Current assets
$
219.0


 
$
170.4


Property, plant and equipment, net
105.8


 
106.8


Goodwill
23.8


 
407.4


Intangible assets, net
386.9


 
389.5


Other assets and deferred income taxes
11.8


 
7.2


Assets held for sale
$
747.3


 
$
1,081.3


Liabilities
 
 
 
Current liabilities
$
135.3


 
$
99.0


Noncurrent liabilities
62.3


 
53.1


Liabilities held for sale
$
197.6


 
$
152.1
Energy Systems Business [Member]
  
Net Revenues and After Tax Earnings
Net revenues and after-tax earnings of the Energy Systems business for the three and six months ended June 30 were as follows:
 
Three months ended
 
Six months ended
In millions
2011
 
2010
 
2011
 
2010
Net revenues
$
—


 
$
1.3


 
$
—


 
$
1.8


After-tax earnings (loss) from operations
$
0.2


 
$
(1.5
)
 
$
0.3


 
$
(3.0
)
Gain (loss) on sale, net of tax
—


 
—


 
0.2


 
—


Total discontinued operations, net of tax
$
0.2


 
$
(1.5
)
 
$
0.5


 
$
(3.0
)
KOXKA Divestiture [Member]
  
Net Revenues and After Tax Earnings
Net revenues and after-tax earnings of the KOXKA business for the three and six months ended June 30 were as follows:
 
Three months ended
 
Six months ended
 
In millions
2011
 
2010
 
2011
 
2010
 
Net revenues
$
—


 
$
18.5


 
$
—


 
$
36.3


 
After-tax earnings (loss) from operations
$
(0.4
)
 
$
(44.9
)
*
$
(0.7
)
 
$
(49.4
)
*
Gain (loss) on sale, net of tax
—


 
—


 
—


 
—


 
Total discontinued operations, net of tax
$
(0.4
)
 
$
(44.9
)
 
$
(0.7
)
 
$
(49.4
)
 


* Included in discontinued operations for KOXKA for the three and six months ended June 30, 2010 is an after-tax impairment loss of $38.8 million related to the initial write-down of the net assets to their estimated fair value.