Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Major Class of Assets and Liabilities Related to Discontinued Operations

The following represents major classes of assets and liabilities related to the discontinued operations included in our consolidated balance sheets as of the following dates:

	Year Ended December 31,
(In millions)	2015		2014
Receivables, net	$	7.0	$	36.4
Inventories		1.0		31.8
Property, plant and equipment, net		-		29.6
Total assets	$	8.0	$	97.8
Accounts payable	$	5.9	$	30.9
Accrued compensation		-		0.3
Other accrued liabilities		2.4		1.4
Non-current liabilities		-		3.8
Total liabilities	$	8.3	$	36.4
Net assets (liabilities)	$	(0.3)	$	61.4

Operating Results of the Discontinued Operations

Operating results of the discontinued operations for the years ended December 31, 2015, 2014 and 2013 are shown below:

	Year Ended December 31,
(In millions)	2015		2014		2013
Net sales	$	426.2	$	759.9	$	898.8
Operating costs and expenses:
Cost of sales		429.4		775.8		865.0
Selling, general and administrative expenses		3.6		4.8		4.7
Total operating costs and expenses		433.0		780.6		869.7
Operating income (loss) from discontinued operations		(6.8)		(20.7)		29.1
Net gain from the sale of aromatics		21.5		-		-
Income (loss) from discontinued operations		14.7		(20.7)		29.1
Provision for (benefit from) income taxes of discontinued operations		2.7		(6.8)		10.7
Net income (loss) from discontinued operations	$	12.0	$	(13.9)	$	18.4

Depreciation, Amortization and Capital Expenditures Associated with Discontinued Operations

Certain information pertaining to depreciation and amortization as well as capital expenditures associated with our discontinued operations for the years ended December 31, 2015, 2014 and 2013 are included below:

	Year Ended December 31,
(In millions)	2015		2014		2013
Depreciation and amortization	$	1.9	$	2.0	$	1.2
Capital expenditures		1.0		8.0		7.1