Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations And Discontinued Operations and Disposal Groups [Abstract]

Summarized financial information of discontinued operations

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)	For the year ended December 31,
	2016(a)		2015
Net sales	$	1,252	$	1,428
Cost of products sold	1,196		1,387
Gross profit	56		41
Selling and administrative expenses (b)	22		15
Operating profit	34		26
Income tax expense	12		11
Net income from discontinued operations (c)	$	22	$	15
Gain on sale of discontinued operations	$	279	$	—

(a) Operating results for 2016 are presented for the ten months ended October 31, 2016.

(b) The ten month period ended October 31, 2016 included transaction costs of $8 million.

(c) The year ended December 31, 2016 included $2 million of net loss from discontinued operations from our European business, which were sold in 2012.