Business Disposition (Tables)

6 Months Ended

Jun. 30, 2018

Waste Control Specialists

Schedule of Operations of Disposed Waste Management Segment

Selected financial data for the operations of the disposed Waste Management Segment for periods prior to completing the sale is presented below.  Current assets at December 31, 2017 consist principally of trade accounts receivable.

	December 31, 2017
	(In millions)
ASSETS
Current assets	$	11.2
Restricted cash		27.2
Property and equipment, net		6.0
Other noncurrent assets		7.6
Total noncurrent assets		40.8
Total assets	$	52.0
LIABILITIES
Current portion of long-term debt	$	3.0
Payable to Contran		36.1
Other current liabilities		8.2
Total current liabilities		47.3
Long-term debt		65.0
Deferred income taxes		(43.8	)
Accrued noncurrent closure and post closure costs		31.7
Total noncurrent liabilities		52.9
Total liabilities	$	100.2

	Three months ended June 30,						Six months ended June 30,
	2017			2018			2017			2018(1)
	(In millions)
Net sales	$	20.5		$	—		$	42.0		$	4.6
Operating loss(2)	$	(171.6	)	$	—			(171.0	)		(.4	)
Termination fee		4.0			—			4.0			—
Other expense, net		(5.8	)		—			(7.7	)		—
Interest expense, net		(1.2	)		—			(2.4	)		(.3	)
Loss before taxes		(174.6	)		—			(177.1	)		(.7	)
Income tax benefit		(66.4	)		—			(67.2	)		(.1	)
Net loss		(108.2	)		—			(109.9	)		(.6	)
Pre-tax gain on disposal		—			—			—			58.4
Income tax expense (benefit)		—			(.4	)		—			19.8
After-tax gain on disposal		—			.4			—			38.6
Total	$	(108.2	)	$	.4		$	(109.9	)	$	38.0
Net cash provided by operating activities							$	8.8		$	2.3
Net cash used in investing activities							$	(2.6	)	$	(.1	)

(1) Includes results of the Waste Management Segment though January 26, 2018, the date of the sale.

(2) Operating results in the second quarter and first six months of 2017 includes a $170.6 million long-lived asset impairment.