XML 35 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Loss from discontinued operations
9 Months Ended
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Loss from discontinued operations
Loss from discontinued operations

 
Three Months 
 Ended September 30,
 
Nine Months 
 Ended September 30,
(In millions)
2016
 
2015
 
2016
 
2015
Loss from operations(a)(b)
$

 

 
$

 
(2.4
)
Loss on sale(a)

 

 

 
(0.8
)
Adjustments to contingencies of former operations(c):
 

 
 

 
 

 
 

Other
(0.2
)
 
(0.3
)
 
(0.1
)
 
(0.4
)
Income (loss) from discontinued operations before income taxes
(0.2
)
 
(0.3
)
 
(0.1
)
 
(3.6
)
Provision (benefit) for income taxes
(0.2
)
 
(0.2
)
 
(0.1
)
 
(1.2
)
Income (loss) from discontinued operations, net of tax
$

 
(0.1
)
 
$

 
(2.4
)

(a)
Discontinued operations include gains and losses related to businesses that we recently sold.  No interest expense was included in discontinued operations in the first nine months of 2015.
(b)
The loss from operations in the first nine months of 2015 included $1.0 million in pension settlement charges related to the Mexican parcel delivery service sold in February 2015.
(c)
Primarily related to former businesses previously exited.

Operations sold classified as discontinued operations:
In February 2015, we sold a small Mexican parcel delivery business which met the criteria for classification as a discontinued operation as of December 31, 2014.

Other divestitures not classified as discontinued operations:
We sold an Irish guarding operation in November 2015.
We sold our 70% ownership interest in a Russian cash management business in November 2015 and recognized a $5.9 million loss on the disposition in the fourth quarter of 2015. A significant part of the loss ($5.0 million) represented the reclassification of foreign currency adjustments from accumulated other comprehensive loss into earnings.

Revenues and income (loss) from operations before tax were not significant for the Irish guarding business or the Russian cash management business.