Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

v3.20.2
Discontinued Operations
9 Months Ended
Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONSThe Arysta Sale was completed on January 31, 2019. In connection with the Arysta Sale, the Company agreed to retain certain liabilities associated with legal and tax proceedings, primarily related to an Arysta subsidiary in Brazil. The Company does not expect to incur any material losses as a result of these proceedings. However, the resolutions of these matters may take several years and, to the extent not covered by insurance, may adversely impact the Company's financial position or results of operations. The Company may record an additional gain or loss in the future as it settles certain remaining tax assets and liabilities associated with the Arysta Sale.
The following table details the components comprising net (loss) income from the Company's discontinued operations attributable to common stockholders:
  Three Months Ended September 30, Nine Months Ended September 30,
 (dollars in millions) 2020 2019 2020
2019 (1)
Net sales $ —  $ —  $ —  $ 65.3 
Cost of sales —  —  —  (45.5)
Selling, technical, general and administrative —  (0.4) —  (37.8)
Research and development —  —  —  (4.6)
(Loss) gain on Arysta Sale —  (0.1) —  2.4 
Operating loss —  (0.5) —  (20.2)
Other, net (0.2) 0.7  (1.7) 9.4 
(Loss) income from discontinued operations, before income taxes (0.2) 0.2  (1.7) (10.8)
Income tax (expense) benefit —  (1.1) 0.6  24.0 
Net (loss) income from discontinued operations attributable to common stockholders $ (0.2) $ (0.9) $ (1.1) $ 13.2 
(1) Includes activity through January 31, 2019, when the Arysta Sale was completed, and certain post-closing adjustments relating to, among
other things, cash, indebtedness and working capital as of the closing date.