Discontinued Operations

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On March 13, 2020, the company completed the sale of its U.S. Federal business to Science Applications International Corporation for a cash purchase price of $1.2 billion. The company’s financial statements have been retroactively reclassified to report the U.S. Federal business as discontinued operations. As a result, all items relating to the business within the consolidated statements of income (loss) have been reported as income from discontinued operations, net of tax, and all items relating to the business within the consolidated balance sheets have been reported as either assets or liabilities of discontinued operations. Depreciation, amortization, capital expenditures, and significant noncash operating and investing activities related to the U.S. Federal business were immaterial.

The results of the U.S. Federal business discontinued operations for the three months ended March 31, 2020 and 2019 were as follows (in millions of dollars):

	2020*		2019
Revenue	$	149.5	$	141.3
Income:
Operations	9.0		17.7
Gain on sale	1,061.7		—
	1,070.7		17.7
Income tax provision	2.2		4.4
Income from discontinued operations, net of tax	$	1,068.5	$	13.3

* Includes results of operations through the March 13, 2020 closing date.