DISCONTINUED OPERATIONS

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

On February 19, 2010, the Company completed the disposition of its Mining business to Bucyrus International, Inc. In 2010, the Company sold all of its Atlas heavy construction equipment and knuckle-boom cranes businesses (collectively, “Atlas”) to Atlas Maschinen GmbH (“Atlas Maschinen”).

The following amounts related to the discontinued operations were derived from historical financial information and have been segregated from continuing operations and reported as discontinued operations in the Condensed Consolidated Statement of Comprehensive Income (in millions):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2013			2012		2013			2012
Net sales	$	—		$	—	$	—		$	—
Loss from discontinued operations before income taxes	$	—		$	—	$	—		$	—
(Provision for) benefit from income taxes	5.5			—		5.5			2.5
Income (loss) from discontinued operations – net of tax	$	5.5		$	—	$	5.5		$	2.5
Gain (loss) on disposition of discontinued operations	$	—		$	—	$	3.5		$	2.7
(Provision for) benefit from income taxes	(0.4		)	—		(0.9		)	(0.4		)
Gain (loss) on disposition of discontinued operations – net of tax	$	(0.4	)	$	—	$	2.6		$	2.3

During the nine months ended September 30, 2013 and 2012, the Company recorded pre-tax gains of $3.5 million and $2.7 million, respectively, related to the sale of its Atlas business based on contractually obligated earnings based payments from the purchaser. The Company recorded a cumulative net loss on the sale of Atlas of approximately $11.0 million, net of tax, through September 30, 2013. During the three and nine months ended September 30, 2013, a tax benefit of $5.5 million was recognized in discontinued operations for the resolution of uncertain tax positions for certain pre-divestiture years in the Mining business. During the nine months ended September 30, 2012, a tax benefit of $2.5 million was recognized in discontinued operations for the resolution of uncertain tax positions for certain pre-divestiture years in the Mining business. During the three and nine months ended September 30, 2013 the company recorded a $0.4 million tax provision related to the sale of the Company’s Mining business. No assets and liabilities were remaining in discontinued operations entities in the Condensed Consolidated Balance Sheet as of September 30, 2013 and December 31, 2012.