Business Combinations, Discontinued Operations and Related Transactions (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Schedule of Condensed Income Statement and Balance Sheet

Selected financial data for the operations of the disposed furniture components business is presented below:

	Year ended December 31, 2012
	(In millions)
Income statement:
Net sales	$	60.7
Operating income	$	7.4
Income from discontinued operations:
Income before taxes	$	7.2
Income tax expense		3.5
Income from discontinued operations, net of tax		3.7

Recognition Based on Final Asset Allocation

Based on our analysis of the amounts of the transaction at December 31, 2013 we recognized the following:

	(In millions)
Consideration:
Cash	$	5.3
Promissory note payable		19.1
Deferred payment, obligation ($11.1 million face value)		8.2
Total fair value of consideration		32.6
Fair value of our existing equity interest in BMI and LandWell		43.4
Bargain purchase gain recognized		28.0
Total	$	104.0
Allocation of purchase price to identifiable assets acquired and liabilities assumed:
Cash	$	27.4
Land held for development:
Current		14.3
Noncurrent		158.1
Other current assets		9.4
Property, plant and equipment		29.0
Other noncurrent assets		8.5
Long-term debt		(14.3	)
Other liabilities		(66.9	)
Total net identifiable assets		165.5
Noncontrolling interest in BMI and LandWell		(61.5	)
Total	$	104.0