Discontinued Operations

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

As discussed in our Annual Report on Form 10-K for the year ended December 31, 2020, on October 1, 2020, we closed on the sale of our cryobiological products business to Cryoport, Inc. (NASDAQ: CYRX) (the “Cryobiological Divestiture”). Our cryobiological products business asset group met the criteria to be held for sale. Furthermore, we determined that the assets held for sale qualified for discontinued operations. As such, the financial results of the cryobiological products business are reflected in our unaudited condensed consolidated statements of income and comprehensive income as discontinued operations for all prior periods presented.

Summarized Financial Information of Discontinued Operations

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


	Three Months Ended June 30, 2020	Six Months Ended June 30, 2020
Sales		$	20.9	$	40.1
Cost of sales		11.8		21.9
Selling, general and administrative expenses		1.5		2.9

Operating income (1)		7.6		15.3

Income before income taxes from discontinued operations		8.0		15.7
Income tax expense		1.7		3.0
Income from discontinued operations, net of tax		$	6.3	$	12.7

________________

(1)Includes depreciation expense of $0.3 and $0.6 for the three and six months ended June 30, 2020.

The following table represents a summary of cash flows related to discontinued operations:


	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
Net cash provided by (used in):
Operating activities	$	7.7	$	14.9
Investing activities	—		(0.1)

Net cash provided by discontinued operations	$	7.7	$	14.8