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Discontinued Operations and Divestitures
 9 Months Ended
Sep. 30, 2015
Discontinued Operations [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Discontinued Operations and Divestitures
During 2014, the Company’s Endicia® and Culinary electrics and retail businesses were classified as discontinued operations based on the Company’s commitment to sell the businesses. The Endicia business was included in the Writing segment, and the Culinary electrics and retail businesses were included in the Home Solutions segment. During the three months ended March 31, 2015, the Company entered into an agreement to sell Endicia for an estimated sale price of $215.0 million, subject to customary working capital adjustments. The closing of the transaction is expected to occur in November 2015. The net assets of the Endicia business at September 30, 2015 were $44.6 million, primarily representing goodwill of Endicia. During the three months ended March 31, 2015, the Company ceased operations in its Culinary electrics and retail businesses.




The following table provides a summary of amounts included in discontinued operations (in millions):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
Net sales
$
16.2

 
$
19.3

 
$
48.5

 
$
60.1

Income (loss) from discontinued operations before income taxes
$
0.4

 
$
0.3

 
$
(3.5
)
 
$
0.3

Income tax expense (benefit)
0.2

 
(0.1
)
 
(1.3
)
 
0.3

Income (loss) from discontinued operations
0.2

 
0.4

 
(2.2
)
 
—

Net (loss) gain from sale of discontinued operations, net of tax
—

 
(1.0
)
 
—

 
2.1

Income (loss) from discontinued operations, net of tax
$
0.2

 
$
(0.6
)
 
$
(2.2
)
 
$
2.1


In May 2015, the Company announced its intention to divest the Rubbermaid medical cart business, which is focused on optimizing nurse work flow and medical records processing in hospitals and was included in the Commercial Products segment. The Company sold substantially all of the assets of the Rubbermaid medical cart business in August 2015. The Company retained the accounts receivable of the business. The consideration exchanged was not material. The Rubbermaid medical cart business did not qualify as discontinued operations, so the Company continued to include the business in continuing operations until the business was sold. The Rubbermaid medical cart business generated approximately 1% of the Company’s consolidated net sales for the year ended December 31, 2014 and net sales of $3.8 million and $26.5 million for the three and nine months ended September 30, 2015, respectively.
In October 2015, the Company announced its intention to divest the Levolor® and Kirsch® window coverings brands (“Décor”). The Décor business does not qualify as discontinued operations pursuant to the guidance in ASU 2014-08, so the Company has continued to report the Décor business in continuing operations as part of the Home Solutions segment. The Décor business generated approximately 5.5% of the Company’s consolidated net sales for the year ended December 31, 2014 and net sales of $82.7 million and $233.3 million for the three and nine months ended September 30, 2015, respectively.