IMPAIRMENT CHARGES

Pre-tax impact of impairment charges is summarized in the following table.

Other long-lived asset impairments are reported in "Other (income) expense, net." Charges associated with discontinued operations are reported in "Earnings from discontinued operations, net of tax."



	Six Months Ended June 30,												Three Months Ended June 30,
	2016						2015						2016						2015
	Good-will		Other Long-Lived Assets		Total		Good-will		Other Long-Lived Assets		Total		Good-will		Other Long-Lived Assets		Total		Good-will		Other Long-Lived Assets		Total
Continuing operations:
Residential Furnishings	$	—	$	—	$	—	$	—	$	.2	$	.2	$	—	$	—	$	—	$	—	$	—	$	—
Industrial Materials - Steel Tubing	—		—		—		4.1		1.4		5.5		—		—		—		—		—		—
Specialized Products:
CVP unit	3.7		—		3.7		—		.1		.1		3.7		—		3.7		—		.1		.1
Other units	—		—		—		—		.5		.5		—		—		—		—		.5		.5
Total continuing operations	3.7		—		3.7		4.1		2.2		6.3		3.7		—		3.7		—		.6		.6
Discontinued operations:
Subsequent activity related to previous divestitures	—		—		—		—		.2		.2		—		—		—		—		—		—
Total discontinued operations	—		—		—		—		.2		.2		—		—		—		—		—		—
Total impairment charges	$	3.7	$	—	$	3.7	$	4.1	$	2.4	$	6.5	$	3.7	$	—	$	3.7	$	—	$	.6	$	.6

Other Long-Lived Assets

We test other long-lived assets for recoverability at year-end and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Fair value and the resulting impairment charges noted above were based primarily upon offers from potential buyers or third party estimates of fair value less selling costs.

Goodwill Impairment Reviews

We test goodwill for impairment at the reporting unit level when triggering events occur, or at least annually. We perform our goodwill impairment review in the second quarter of each year. Our reporting units are the business groups that are one level below the operating segment level.

2015

During the first quarter of 2015, the Steel Tubing unit met the held for sale criteria. Because fair value less costs to sell had fallen below the carrying amount, we fully impaired this unit's goodwill and incurred a $4.1 goodwill impairment charge in the first quarter of 2015.

In the second quarter of 2015, we performed a quantitative analysis under the two-step model, and all of our reporting units were determined to have a fair value in excess of their carrying amounts in a range of 55% to 86% of their respective fair values.

2016

Because all reporting units had fair values that exceeded carrying value by more than 55% during the 2015 review, we performed a qualitative assessment (Step Zero Analysis) for our annual review in the second quarter of 2016. Among other things, we considered i) the excess in fair value of the reporting unit over its carrying amount from the most recent quantitative analysis, ii) macroeconomic conditions, iii) industry and market trends, and iv) overall financial performance. Based on the Step Zero Analysis we concluded that it is more likely than not that the fair value of the reporting units exceeded their carrying amount, except for our CVP reporting unit.

With regard to our CVP reporting unit, in the second quarter of 2016 we sold one of our two remaining businesses. Additionally, real estate associated with the remaining CVP business reached held for sale status during the second quarter of 2016. As a result of these two events, the fair value of the CVP reporting unit (consisting of one remaining business) had fallen below its carrying amount, and we fully impaired the remaining $3.7 of goodwill for this reporting unit.