Assets Held for Sale (Notes)

9 Months Ended

Oct. 01, 2016

Assets held for sale [Abstract]

Disposal groups, including discontinued operations, disclosure [Text Block]

ASSETS HELD FOR SALE

During the six months endedDecember 31, 2015, management committed to a plan to sell our U.S. VMS and India Active Pharmaceutical Ingredients ("API") businesses. As a result, the net assets attributable to both businesses were classified as held-for-sale beginning at December 31, 2015. As described in Note 2, we completed the sale of our U.S. VMS business to IVC on August 5, 2016. In addition, during the three months endedOctober 1, 2016, management committed to a plan to sell certain fixed assets associated with our Animal Health pet treats plant. Such assets were classified as held-for-sale beginning at October 1, 2016.

When a group of assets is classified as held-for-sale, the book value is evaluated and adjusted to the lower of its carrying amount or fair value less the cost to sell. At December 31, 2015, we determined that the carrying value of the India API business exceeded its fair value less cost to sell, resulting in an impairment charge of $29.0 million. We recorded additional impairment charges totaling $10.8 million during the nine months endedOctober 1, 2016. The API business is reported primarily in our Other segment.

At October 1, 2016, we determined that the carrying value of the fixed assets associated with our Animal Health pet treats plant exceeded the fair value less the cost to sell, resulting in an impairment charge of $3.4 million. The assets associated with our Animal Health pet treats plant are reported in our CHC segment.

The assets held-for-sale were reported within Prepaid expenses and other current assets and liabilities held-for-sale were reported in Accrued liabilities. The amounts consisted of the following (in millions):

	October 1, 2016						December 31, 2015
	CHC			Other			CHC		Other
Assets held for sale
Current assets	$	—		$	7.3		$	55.1	$	13.6
Goodwill	—			2.8			13.0		14.5
Property, plant and equipment	13.3			34.0			18.8		37.4
Other assets	—			3.2			—		3.2
Less: impairment reserves	(3.4		)	(39.8		)	—		(29.0		)
Total assets held for sale	$	9.9		$	7.5		$	86.9	$	39.7
Liabilities held for sale
Current liabilities	$	0.3		$	0.9		$	30.5	$	0.5
Other liabilities	—			2.1			—		1.7
Total liabilities held for sale	$	0.3		$	3.0		$	30.5	$	2.2