Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Financial Results and Major Classes of Assets and Liabilities from Discontinued Operations

Financial results from discontinued operations:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2021		2020		2021		2020
Net sales	$	59.1	$	33.6	$	113.0	$	84.6
Cost of sales	46.7		26.9		89.7		65.9
Selling, general and administrative	4.7		4.2		9.2		9.4
Restructuring charges	—		0.6		—		0.6
Income from discontinued operations	7.7		1.9		14.1		8.7
Income tax (benefit) provision1	(19.9)		0.5		(18.5)		2.2
Income from discontinued operations, net of tax	$	27.6	$	1.4	$	32.6	$	6.5
1 Includes $21.5 million of deferred tax benefit in 2021 associated with the pending disposition of the Engineered Materials segment.

Major classes of assets and liabilities to be transferred in the transaction:

(in millions)	June 30, 2021		December 31, 2020
Assets:
Accounts receivable, net	$	17.1	$	8.8
Inventories, net	9.4		8.5
Other current assets	0.5		0.1
Property, plant and equipment, net	26.1		26.8
Other assets	0.3		0.6
Intangible assets, net	1.2		1.2
Goodwill	171.3		171.3
Assets held for sale	$	225.9	$	217.3
Liabilities:
Accounts payable	$	25.1	$	19.5
Accrued liabilities	8.1		7.9
Long-term deferred tax liability	4.7		26.1
Other liabilities	—		0.1
Liabilities held for sale	$	37.9	$	53.6