Assets and Liabilities Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities Held for Sale and Divestitures

The results of operations, financial position and cash flows for the Asia Pacific Operations are separately reported as discontinued operations for all periods presented. Included in Net income (loss) from discontinued operations, net of taxes in the Consolidated Statements of Operations and Comprehensive Income (Loss) were the following (in millions):

	Year Ended
	December 31, 2015			December 31, 2014			December 31, 2013
Net sales	$	289.4		$	590.8		$	639.9
Cost of sales (1)	270.8			532.9			541.2
Gross profit	18.6			57.9			98.7
Selling, general and administrative expenses	36.0			58.3			62.8
Goodwill impairment charge	3.2			61.6			—
Intangible asset impairment charges	—			20.5			—
Operating income (loss)	(20.6		)	(82.5		)	35.9
Other income (expense)	(5.3		)	(2.1		)	(0.1		)
Interest expense, net	(1.4		)	(1.7		)	(1.9		)
Pre-tax gain on the disposal of discontinued operations	15.5			17.6			—
Income (loss) before income taxes	(11.8		)	(68.7		)	33.9
Income tax (provision) benefit	0.1			(1.7		)	(8.3		)
Equity in net earnings of affiliated companies	0.1			0.2			—
Net income (loss) including noncontrolling interest	$	(11.6	)	$	(70.2	)	$	25.6

(1) Based on the estimated expected sales price of the India operations and in accordance with ASC 360, the Company recorded an impairment loss in cost of sales of $13.6 million in the year ended December 31, 2015. As part of the Company's strategic review and asset optimization plans, announced in the second quarter of 2014, the Company recorded an asset impairment charge in cost of sales of $16.5 million in the year ended December 31, 2014, based on the review of its India asset group in accordance with ASC 360.

Financial information for assets and liabilities held for sale were the following (in millions):

	December 31, 2015		December 31, 2014
Assets
Current assets:
Cash and cash equivalents	$	32.7	$	69.1
Receivables, net of allowances	28.5		111.9
Inventories	38.6		92.2
Deferred income taxes	—		8.4
Prepaid expenses and other	4.1		32.2
Total current assets	103.9		313.8
Property, plant and equipment, net	39.7		87.7
Deferred income taxes	10.3		6.4
Goodwill	—		3.3
Intangible assets, net	—		14.6
Other non-current assets	6.9		7.9
Total assets	$	160.8	$	433.7
Liabilities
Current liabilities:
Accounts payable	$	17.3	$	119.4
Accrued liabilities	21.1		27.3
Current portion of long-term debt	13.2		11.9
Total current liabilities	51.6		158.6
Deferred income taxes	0.2		4.7
Other liabilities	1.5		11.3
Total liabilities	$	53.3	$	174.6