Discontinued Operations

9 Months Ended

Sep. 30, 2021

Discontinued Operations [Abstract]

Discontinued Operations

NOTE 5. DISCONTINUED OPERATIONS

EMEA and Pacific Rim Businesses

In 2019, we completed the sale of certain subsidiaries comprising our businesses in EMEA and the Pacific Rim to Knauf. During the nine months ended September 30, 2021, we recorded a pre-tax loss on sale of $0.4 million for final purchase price adjustments related to certain pension liabilities included in the Sale. We did not record a gain or loss during the three months ended September 30, 2021. During the three and nine months ended September 30, 2020, we recorded a pre-tax loss on sale of $0.2 and $5.2 million, respectively, representing working capital and other adjustments.

See Note 1 for further discussion of the Sale.

European Resilient Flooring

During the second quarter of 2020, we recorded a gain of $0.8 million related to Accumulated Other Comprehensive Income (“AOCI”) adjustments from a previously discontinued foreign flooring entity, which was dissolved in the second quarter of 2020. The AOCI adjustments related to accumulated foreign currency translation amounts.

Summarized Financial Information of Discontinued Operations

The following table details the line items that comprise discontinued operations on the Condensed Consolidated Statements of Operations and Comprehensive Income.

	EMEA and Pacific Rim Businesses
Nine Months Ended September 30, 2021
(Loss) from disposal of discontinued businesses, before income tax	$	(0.4	)
Income tax expense		1.7
(Loss) from disposal of discontinued businesses, net of tax	$	(2.1	)
Net (loss) from discontinued operations	$	(2.1	)

	EMEA and Pacific Rim Businesses
Three Months Ended September 30, 2020
(Loss) from disposal of discontinued businesses, before income tax	$	(0.2	)
Income tax (benefit)		-
(Loss) from disposal of discontinued business, net of tax	$	(0.2	)
Net (loss) from discontinued operations	$	(0.2	)

	EMEA and Pacific Rim Businesses			European Resilient Flooring		Total
Nine Months Ended September 30, 2020
(Loss) gain from disposal of discontinued businesses, before income tax	$	(5.2	)	$	0.8	$	(4.4	)
Income tax (benefit)		(1.4	)		-		(1.4	)
(Loss) gain from disposal of discontinued businesses, net of tax	$	(3.8	)	$	0.8	$	(3.0	)
Net (loss) earnings from discontinued operations	$	(3.8	)	$	0.8	$	(3.0	)