DIscontinued Operations

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

The sale of L&W was completed on October 31, 2016. The summarized financial information related to L&W that has been excluded from continuing operations and reported as a discontinued operation is as follows:

(millions)	Three months ended March 31,
	2016
Net sales	$	357
Cost of products sold	343
Gross profit	14
Selling and administrative expenses	3
Operating profit	11
Income tax expense	(4		)
Income from discontinued operations	$	7

Additionally, upon the close of the sale, we entered into a supply agreement with L&W. For the three months endedMarch 31, 2017, we recorded sales to L&W of $131 million. In the comparative period for 2016, we recorded sales of $145 million, which reflect only the sales that were sold by L&W to third party customers through March 31, 2016. We recorded a cash inflow of $109 million from L&W in the three months endedMarch 31, 2017 related to payments on trade receivables.