Discontinued Operations

12 Months Ended

Sep. 30, 2015

Discontinued Operations [Abstract]

Discontinued Operations

4.  Discontinued Operations

During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which has been accounted for as a discontinued operation.

In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of €590 million ($777) and recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share). Additionally, during the third quarter of 2012, an impairment charge of $33.5 ($29.5 after-tax, or $.14 per share) was recorded to write down the remaining business, which was primarily in the United Kingdom and Ireland, to its estimated net realizable value. In the fourth quarter of 2013, an additional charge of $18.7 ($13.6 after-tax, or $.06 per share) was recorded to update our estimate of the net realizable value. In the first quarter of 2014, we sold the remaining portion of the Homecare business for £6.1 million ($9.8) and recorded a gain on sale of $2.4. We entered into an operations guarantee related to the obligations under certain homecare contracts assigned in connection with the transaction. Refer to Note 17, Commitments and Contingencies, for additional information.

The results of discontinued operations are summarized below:
		2015		2014		2013
Sales	$	-	$	8.5	$	52.3
Income before taxes	$	-	$	.7	$	3.8
Income tax provision		-		-		.2
Income from operations of discontinued operations		-		.7		3.6
Gain (Loss) on sale of business and impairment/write-down, net of tax		-		3.9		(13.6)
Income (Loss) from Discontinued Operations, net of tax	$	-	$	4.6	$	(10.0)

As of 30 September 2015 and 2014, no assets or liabilities were classified as discontinued operations.