Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

(Loss) income from discontinued operations, net of tax was as follows (in millions):

	Year Ended
	December 31, 2023		December 31, 2022		December 31, 2021
Net sales	$	—	$	—	$	405.1
Cost of sales	—		—		258.4
Gross profit	—		—		146.7
Operating expenses
Distribution	—		—		6.1
Research and development	—		—		30.8
Selling	—		—		16.3
Administration	10.4		4.6		36.4
Other operating income, net	—		—		(0.4)
Total operating expenses	10.4		4.6		89.2
Operating (loss) income	(10.4)		(4.6)		57.5
Interest expense, net	—		—		0.8
Other income, net	—		—		(1.6)
(Loss) income from discontinued operations before tax	(10.4)		(4.6)		58.3
Gain on sale of business	—		—		(47.5)
(Loss) income before income taxes	(10.4)		(4.6)		105.8
Income tax (benefit) expense	(2.1)		5.1		43.8
(Loss) income from discontinued operations, net of tax	$	(8.3)	$	(9.7)	$	62.0

Select cash flow information related to discontinued operations was as follows (in millions):

	Year Ended(1)
		December 31, 2022		December 31, 2021
Cash flows from discontinued operations operating activities:
Depreciation and amortization		$	—	$	15.4
Share-based compensation		—		10.8
Gain on sale of business		—		(47.5)
Cash flows from discontinued operations investing activities:
Asset acquisitions		$	—	$	(69.7)
Additions to property, plant and equipment		—		(16.1)
Net proceeds from sale of business		53.3		1,491.9

(1) Cash flows from discontinued operations for the year ended December 31, 2023 were not significant.