Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Summary of assets acquired and liabilities assumed

The fair value recorded for the assets acquired and liabilities assumed for ESOL is as follows:

	Final
(In millions)	April 6 2020		Measurement Period Adjustments		September 30 2021
Cash and cash equivalents	$	0.4	$	—	$	0.4
Trade accounts receivable	124.1		(1.5)		122.6
Inventory	5.0		—		5.0
Other current assets	0.7		(0.7)		—
Property, plant and equipment	105.3		(3.9)		101.4
Right-of-use assets	56.0		—		56.0
Goodwill	152.0		1.3		153.3
Intangible assets	161.0		—		161.0
Other assets	0.2		—		0.2
Accounts payable	(48.6)		(1.5)		(50.1)
Accrued expenses	(17.5)		(1.8)		(19.3)
Current portion of operating lease liabilities	(16.6)		—		(16.6)
Other current liabilities	(6.4)		(0.2)		(6.6)
Environmental liabilities	(24.4)		—		(24.4)
Deferred income taxes	(15.5)		(1.5)		(17.0)
Operating lease liabilities	(39.4)		—		(39.4)
Total identifiable net assets of ESOL	436.3		(9.8)		426.5
Non-compete agreement	2.5		—		2.5
Total identifiable net assets of ESOL, including non-compete agreement	$	438.8	$	(9.8)	$	429.0

Preliminary valuation of identifiable intangible assets and amortization periods

The following table details the valuation of identifiable intangible assets and amortization periods for ESOL and the non-compete agreement entered into by the Company upon acquisition of ESOL:

		Final
(Dollars in millions)	Weighted-Average Amortization Period	April 6 2020		Measurement Period Adjustments		September 30 2021
Permits and rights	22 years	$	138.0	$	—	$	138.0
Customer relationships	10 years	23.0		—		23.0
Total identifiable intangible assets of ESOL		161.0		—		161.0
Non-compete agreement	4 years	2.5		—		2.5
Total identifiable intangible assets acquired		$	163.5	$	—	$	163.5

Pro forma information

	Nine Months Ended
	September 30
(In millions)	2020
Pro forma revenues	$	1,486.2
Pro forma net income (loss) attributed to Harsco Corporation (including discontinued operations) (a)	1.0

(a) Pro forma net income includes the after tax gain on the sale of IKG of approximately $9 million for the nine months ended September 30, 2020.

Balance sheet positions and financial information included in net income from discontinued operations and statements of cash flows

Certain key selected financial information included in net income (loss) from discontinued operations for the former Harsco Industrial Segment is as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
(In millions)	2021		2020		2021		2020
Amounts for the former Harsco Industrial Segment:
Total revenues	$	—	$	—	$	—	$	10,203
Cost of products sold	—		—		—		8,082
Gain on sale from discontinued business	—		—		—		18,371
Income (loss) from discontinued business	(856)		(716)		(2,859)		(593)
Additional amounts allocated to the former Harsco Industrial Segment:
Selling, general and administrative expenses (b)	$	856	$	521	$	2,859	$	1,710

(b) The Company has allocated directly attributable transaction costs to discontinued operations. In addition, this caption includes costs directly attributable to retained contingent liabilities of the Harsco Industrial Segment.