Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.10.0.1
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Summary of Discontinued Operations
The following is a summary of the operating results of DLW, which are reflected in these Consolidated Financial Statements for periods prior to the Spin-off.
 
Year Ended December 31, 2016
(Loss) on disposal of discontinued operations before income tax
$
(0.1
)
Income tax benefit
1.8

Gain on disposal of discontinued operations, net of tax
$
1.7



The following is a summary of the operating results of the wood business, which are included in discontinued operations.
 
Year Ended December 31,
 
2018
 
2017
 
2016
Net Sales
$
387.0

 
$
429.6

 
$
483.1

Cost of goods sold
330.7

 
407.5

 
407.6

Gross profit
56.3

 
22.1

 
75.5

Selling, general and administrative expenses
36.6

 
39.4

 
42.3

Intangible asset impairment

 
12.5

 

Operating earnings (loss)
19.7

 
(29.8
)
 
33.2

Interest expense

 
0.1

 

Other expense, net

 
1.0

 
0.7

Earnings (loss) before income tax
19.7

 
(30.9
)
 
32.5

Income tax expense (benefit)
9.8

 
(6.2
)
 
8.8

Net earnings (loss) from discontinued operations
$
9.9

 
$
(24.7
)
 
$
23.7

 
Year Ended December 31,
 
2018
 
2017
 
2016
Depreciation and Amortization
$
10.3

 
$
40.0

 
$
14.1

Capital Expenditures
(8.0
)
 
(12.3
)
 
(11.9
)
The following is a summary of the assets and liabilities of the discontinued operations as of December 31, 2017.
 
Year Ended December 31, 2017
Cash
$
(1.1
)
Accounts and notes receivable, net
27.1

Inventories, net
119.0

Other assets
4.5

Current assets of discontinued operations
$
149.5

 
Year Ended December 31, 2017
Property plant and equipment, net
$
107.5

Intangible assets, net
21.8

Other noncurrent assets
1.0

Noncurrent assets of discontinued operations
$
130.3

 
Year Ended December 31, 2017
Accounts payable and accrued expenses
$
26.1

Current liabilities of discontinued operations
$
26.1

 
Year Ended December 31, 2017
Long-term debt
$
1.0

Postretirement benefit liabilities
2.9

Pension benefit liabilities
3.4

Deferred income taxes
13.1

Other liabilities
2.3

Noncurrent liabilities of discontinued operations
$
22.7

The following is a summary of the results related to the net loss on disposal of wood business which is included in discontinued operations:
 
Year Ended December 31, 2018
(Loss) on disposal of discontinued operations before income tax
$
(153.8
)
Income tax (benefit)

Net (loss) on disposal of discontinued operations
$
(153.8
)