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

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal groups, including discontinued operations

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 June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net sales	$	0.1	$	131.2	$	5.5	$	257.1
Cost of sales	(0.4)		(122.6)		(5.5)		(262.9)
Selling, general and administrative expenses	(0.9)		(30.6)		(1.4)		(61.6)
Impairment of mobile cranes disposal group	—		4.0		(0.1)		(82.1)
Other income (expense)	(0.1)		(1.4)		(0.1)		(3.7)
Income (loss) from discontinued operations before income taxes	(1.3)		(19.4)		(1.6)		(153.2)
(Provision for) benefit from income taxes	0.3		2.1		0.4		11.5
Income (loss) from discontinued operations – net of tax	$	(1.0)	$	(17.3)	$	(1.2)	$	(141.7)

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

	June 30, 2020		December 31, 2019
	Cranes		Cranes
Assets
Cash and cash equivalents	$	3.9	$	5.0
Trade receivables – net	2.6		3.5
Inventories	2.2		5.3
Prepaid and other current assets	0.3		0.2
Impairment reserve	(3.5)		(4.8)
Included in Prepaid and other current assets	$	5.5	$	9.2
Property, plant and equipment – net	$	0.6	$	0.6
Intangible assets	1.7		2.4
Impairment reserve	(2.1)		(2.8)
Other assets	0.2		0.4
Included in Other assets	$	0.4	$	0.6
Liabilities
Trade accounts payable	$	1.3	$	4.6
Accruals and other current liabilities	2.0		3.8
Included in Other current liabilities	$	3.3	$	8.4
Non-current liabilities	$	0.9	$	1.2
Included in Other non-current liabilities	$	0.9	$	1.2

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

	June 30, 2020		December 31, 2019
Cash and cash equivalents:
Cash and cash equivalents - continuing operations	$	426.0	$	535.1
Cash and cash equivalents - held for sale	3.9		5.0
Total cash and cash equivalents	$	429.9	$	540.1

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Non-cash operating items:
Depreciation and amortization	$	—	$	1.0	$	—	$	3.2
Impairments	$	—	$	(4.0)	$	0.1	$	82.1
Deferred taxes	$	0.3	$	5.4	$	0.3	$	2.1
Investing activities:
Capital expenditures	$	—	$	(1.1)	$	—	$	(2.7)

Gain (Loss) on Disposition of Discontinued Operations - net of tax (in millions):

	Three Months Ended
	June 30,
	2020		2019
	Cranes		Cranes		Material Handling and Port Solutions		Total
Gain (loss) on disposition of discontinued operations	$	(7.2)	$	13.7	$	—	$	13.7
(Provision for) benefit from income taxes	2.2		(0.9)		(2.0)		(2.9)
Gain (loss) on disposition of discontinued operations – net of tax	$	(5.0)	$	12.8	$	(2.0)	$	10.8

	Six Months Ended
	June 30,
	2020		2019
	Cranes		Cranes		Material Handling and Port Solutions		Total
Gain (loss) on disposition of discontinued operations	$	(7.2)	$	13.7	$	(1.3)	$	12.4
(Provision for) benefit from income taxes	2.2		(0.9)		(0.1)		(1.0)
Gain (loss) on disposition of discontinued operations – net of tax	$	(5.0)	$	12.8	$	(1.4)	$	11.4