Discontinued Operations and Dispositions (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Key Components of Discontinued Operations

The key components of income from discontinued operations for the years ended December 31 were as follows ($ in millions):

	2020		2019		2018
Sales	$	1,963.4	$	2,778.2	$	3,416.4
Cost of sales	(1,107.3)		(1,587.5)		(1,969.7)
Selling, general, and administrative expenses	(455.3)		(494.4)		(558.1)
Research and development expenses	(98.6)		(136.4)		(163.1)
Goodwill impairment	(85.3)		—		—
Gain (loss) on disposition of discontinued operations before income taxes	—		(2.1)		1,909.9
Interest expense and other	(31.0)		(22.2)		(25.1)
Earnings (loss) before income taxes	185.9		535.6		2,610.3
Income taxes	(24.8)		(64.8)		(186.7)
Earnings from discontinued operations, net of income taxes	$	161.1	$	470.8	$	2,423.6

The following table summarizes the major classes of assets and liabilities of discontinued operations that were included in the Company’s Consolidated Balance Sheets as of December 31 ($ in millions):

	2020		2019
ASSETS
Accounts receivable, net	$	—	$	493.8
Inventories	—		224.1
Other current assets	30.4		120.2
Total current assets, discontinued operations	30.4		838.1
Property, plant and equipment, net	—		103.4
Goodwill	—		1,157.8
Other intangible assets, net	—		274.3
Other non-current assets	—		472.8
Total other assets, discontinued operations	—		2,008.3
Total assets, discontinued operations	$	30.4	$	2,846.4
LIABILITIES
Current liabilities:
Trade accounts payable	$	—	$	(316.5)
Accrued expenses and other current liabilities	(33.3)		(361.8)
Total current liabilities, discontinued operations	(33.3)		(678.3)
Other long-term liabilities	—		(272.6)
Total liabilities, discontinued operations	$	(33.3)	$	(950.9)