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Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]  
Schedule of Financial Results of Discontinued Operations

The following table presents the financial results of discontinued operations for the year ended December 31, 2016:

 

Net sales

$

3,303.4

 

Cost of sales

 

2,534.7

 

Operating expenses (a)

 

615.9

 

Interest and other expense, net (b)

 

151.4

 

Earnings before income taxes

 

1.4

 

Income tax expense

 

11.1

 

Net loss from discontinued operations

$

(9.7

)

(a)

Includes spinoff transaction costs incurred of $81.2 million.

(b)

Includes the related interest expense of the corporate level debt which was retired in connection with the Separation totaling $55.9 million for the year ended December 31, 2016. Also includes the losses on the extinguishment of corporate level debt executed in conjunction with the spinoff transactions totaling $96.1 million for the year ended December 31, 2016.

Schedule of Non-Cash Items and Capital Expenditures of Discontinued Operations

The following table presents the significant non-cash items and capital expenditures of discontinued operations for the year ended December 31, 2016:

 

Depreciation and amortization

$

159.0

 

Pension settlement charges

77.7

 

Impairment charges

 

1.5

 

Loss on debt extinguishments

96.1

 

Assumption of warehousing equipment related to client contract

8.8

 

Purchase of property, plant and equipment

 

(49.0

)

Schedule of Transactions with LSC and Donnelley Financial

We also entered into various commercial agreements which govern sales transactions between the companies. Under these commercial agreements, we recognized the following transactions with LSC and Donnelley Financial during the years ended December 31, 2017 and 2016.

 

 

Year ended December 31,

 

2017

 

2016

 

Net sales to LSC and Donnelley Financial

$

279.5

 

$

98.0

 

Purchases from LSC and Donnelley Financial

 

159.4

 

 

79.0