DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal groups, including discontinued operations

The following table provides the amounts of assets and liabilities held for sale in the Condensed Consolidated Balance Sheet (in millions):

	September 30, 2019			December 31, 2018
	Cranes			Cranes
Assets
Cash and cash equivalents	$	4.9		$	32.6
Trade receivables – net	7.9			126.9
Inventories	7.8			295.5
Prepaid and other current assets	0.2			9.4
Impairment reserve	(4.6		)	(4.9		)
Current assets held for sale	$	16.2		$	459.5
Property, plant and equipment – net	$	0.5		$	28.8
Intangible assets	2.3			4.3
Impairment reserve	(2.7		)	(2.9		)
Other assets	2.7			38.2
Non-current assets held for sale	$	2.8		$	68.4
Liabilities
Notes payable and current portion of long-term debt	$	—		$	0.6
Trade accounts payable	4.8			101.6
Accruals and other current liabilities	3.2			77.3
Current liabilities held for sale	$	8.0		$	179.5
Long-term debt, less current portion	$	—		$	4.1
Retirement plans and other non-current liabilities	—			71.8
Non-current liabilities	1.8			10.6
Non-current liabilities held for sale	$	1.8		$	86.5

The following table provides amounts of cash and cash equivalents presented in the Condensed Consolidated Statement of Cash Flows (in millions):

	September 30, 2019		December 31, 2018
Cash and cash equivalents:
Cash and cash equivalents - continuing operations	$	470.6	$	339.5
Cash and cash equivalents - held for sale	4.9		32.6
Total cash and cash equivalents	$	475.5	$	372.1

The following table provides supplemental cash flow information related to discontinued operations (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Non-cash operating items:
Depreciation and amortization	$	0.1		$	3.3		$	3.3		$	11.1
Impairments	$	—		$	—		$	82.1		$	0.9
Deferred taxes	$	(7.3	)	$	(4.1	)	$	(5.2	)	$	(3.9	)
Investing activities:
Capital expenditures	$	(0.7	)	$	(2.9	)	$	(3.4	)	$	(10.3	)

Gain (loss) on disposition of discontinued operations - net of tax (in millions):

	Three Months Ended
	September 30,
	2019								2018
	Cranes			Material Handling and Port Solutions		Total			Material Handling and Port Solutions			Other		Atlas		Total
Gain (loss) on disposition of discontinued operations	$	(20.8	)	$	—	$	(20.8	)	$	(0.2	)	$	—	$	—	$	(0.2	)
(Provision for) benefit from income taxes	(0.1		)	—		(0.1		)	—			0.4		—		0.4
Gain (loss) on disposition of discontinued operations – net of tax	$	(20.9	)	$	—	$	(20.9	)	$	(0.2	)	$	0.4	$	—	$	0.2

	Nine Months Ended
	September 30,
	2019									2018
	Cranes			Material Handling and Port Solutions			Total			Material Handling and Port Solutions			Other		Atlas			Total
Gain (loss) on disposition of discontinued operations	$	(7.1	)	$	(1.3	)	$	(8.4	)	$	(0.8	)	$	—	$	3.2		$	2.4
(Provision for) benefit from income taxes	(1.0		)	(0.1		)	(1.1		)	0.1			2.8		(0.5		)	2.4
Gain (loss) on disposition of discontinued operations – net of tax	$	(8.1	)	$	(1.4	)	$	(9.5	)	$	(0.7	)	$	2.8	$	2.7		$	4.8

The following amounts related to 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 (Loss) (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Net sales	$	67.7		$	129.6		$	324.8		$	423.4
Cost of sales	(67.9		)	(136.9		)	(330.8		)	(427.7		)
Selling, general and administrative expenses	(12.0		)	(24.9		)	(73.6		)	(80.0		)
Impairment of Mobile Cranes disposal group	—			—			(82.1		)	—
Other income (expense)	(0.8		)	(0.8		)	(4.5		)	(2.5		)
Income (loss) from discontinued operations before income taxes	(13.0		)	(33.0		)	(166.2		)	(86.8		)
(Provision for) benefit from income taxes	2.9			2.2			14.4			6.6
Income (loss) from discontinued operations – net of tax	$	(10.1	)	$	(30.8	)	$	(151.8	)	$	(80.2	)