Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summarized Financial Information of Discontinued Operations

The following table represents income from discontinued operations, net of tax:

	Year Ended December 31,
	2020 (1)		2019 (1)		2018 (2)
Sales	$	59.9	$	83.6	$	237.5
Cost of sales	31.8		44.3		159.5
Selling, general and administrative expenses	7.8		10.4		41.9
Amortization expense	—		—		2.3
Operating income (3)	20.3		28.9		33.8
Interest expense, net	7.4		10.6		3.2
Other (income) expense, net	(0.8)		0.1		0.4
Income before income taxes	13.7		18.2		30.2
Income tax (benefit) expense	(1.3)		3.2		9.0
Income from discontinued operations before gain on sale of businesses	15.0		15.0		21.2
Gain on sale of businesses, net of taxes (4)	224.2		—		34.3
Income from discontinued operations, net of tax	$	239.2	$	15.0	$	55.5

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(1)Includes results of operations for the cryobiological products business only.

(2)Includes results of operations for both the cryobiological products and oxygen-related products businesses.

(3)Includes depreciation expense of $0.7, $1.1 and $2.7 for the years ended December 31, 2020, 2019 and 2018, respectively.

(4)Gain on sale of businesses is net of taxes of $25.2 and $2.6 for the years ended December 31, 2020 and 2018, respectively.

The following table represents the assets and liabilities from discontinued operations and represents the statement of financial position for the cryobiological products business only:

	December 31, 2019
Accounts receivable, net	$	11.0
Inventories, net	9.4
Prepaid expenses	0.3
Other current assets	0.9
Current assets of discontinued operations	$	21.6
Property, plant, and equipment, net	$	6.8
Goodwill	33.5
Identifiable intangible assets, net	6.7
Non-current assets of discontinued operations	$	47.0
Accounts payable	$	4.2
Customer advances and billings in excess of contract revenue	0.1
Accrued salaries, wages, and benefits	1.5
Current portion of warranty reserve	0.1
Current liabilities of discontinued operations	$	5.9
Other long-term liabilities	$	0.2
Non-current liabilities of discontinued operations	$	0.2

The following table presents a summary of cash flows related to discontinued operations for the following periods:

	Year Ended December 31,
	2020 (1)		2019 (1)		2018 (2)
Net cash provided by (used in):
Operating activities	$	18.3	$	16.6	$	(11.8)
Investing activities	316.7		(0.9)		132.3
Net cash provided by discontinued operations	$	335.0	$	15.7	$	120.5

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(1)Includes cash flows of the cryobiological products business only.

(2)Includes cash flows of both the cryobiological products and oxygen-related products businesses.