Note 4 - Discontinued Operations |
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| Notes to Financial Statements | Ìý | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] |
4. DISCONTINUED OPERATIONSÌý Ìý SaLEÌýofÌýtEXTILE eFFECTS bUSINESS Ìý On February 28, 2023, we completed the sale of our textile chemicals and dyes business (“Textile Effects Businessâ€�)Ìýto Archroma, a portfolio company of SK Capital Partners (“Archromaâ€�),Ìýand during the first quarter of 2024, we finalized the purchase price valued atÌý$597Ìýmillion, which includes adjustments to the purchase price for working capital, plus the assumption of underfunded pension liabilities. Additionally, during the first half of 2024, we recorded a net charge of approximately $8Ìýmillion related to certain post-closing indemnification obligations and other outstanding charges between the parties. During the first half of 2024, we paid cash taxes of approximately $8Ìýmillion, and we expect to pay additional cash taxes of approximately $4Ìýmillion in future periods related to the sale of our Textile Effects Business. Ìý The following table reconciles major line items constituting pretax (loss) income of discontinued operations to after-tax income (loss) of discontinued operations, primarily related to our Textile Effects Business,Ìýas presented in our condensed consolidated statements of operations (dollars in millions):Ìý Ìý
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