The following table represents summarized balance sheet information of assets and liabilities held for sale (in millions):
| | | | | | | | | | | | | June 30,
2021 | | December 31,
2020 | | Cash and cash equivalents | $ | 27.3 | | | $ | 10.5 | | Receivables, less allowance for doubtful accounts of $8.3 in 2021 and $7.1 in 2020 | 106.8 | | | 111.5 | | | Inventories | 101.5 | | | 70.7 | | | Property, plant and equipment, net | 122.1 | | | — | | | Goodwill | 225.8 | | | — | | | Loss recognized on held for sale classification | (240.6) | | | — | | | Other | 88.0 | | | 13.8 | | | Current assets held for sale | $ | 430.9 | | | $ | 206.5 | | | | | | | Property, plant and equipment, net | $ | — | | | $ | 113.2 | | | Goodwill | — | | | 225.5 | | | Other | — | | | 65.4 | | | Noncurrent assets held for sale | $ | — | | | $ | 404.1 | | | | | | | Current portion of long-term debt | $ | 105.8 | | | $ | 53.7 | | | Accounts payable | 59.6 | | | 34.3 | | | Accrued expenses and other current liabilities | 84.3 | | | 23.4 | | | Current liabilities held for sale | $ | 249.7 | | | $ | 111.4 | | | | | | | Long-term debt, net of current portion | $ | — | | | $ | 38.6 | | | Other noncurrent liabilities | — | | | 37.5 | | | Noncurrent liabilities held for sale | $ | — | | | $ | 76.1 | |
The following table represents summarized statements of operations information of discontinued operations (in millions), inclusive of the remaining North America micronutrient product lines abandoned during the three months ended June 30, 2021, as discussed above:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2021 | | 2020 | | 2021 | | 2020 | | Sales | $ | 103.8 | | | $ | 81.0 | | | $ | 189.7 | | | $ | 149.0 | | | Shipping and handling cost | 4.8 | | | 3.6 | | | 8.7 | | | 7.0 | | | Product cost | 78.8 | | | 57.9 | | | 141.8 | | | 109.9 | | | Gross profit | 20.2 | | | 19.5 | | | 39.2 | | | 32.1 | | | Selling, general and administrative expenses | 12.7 | | | 11.9 | | | 26.1 | | | 25.2 | | | Operating earnings | 7.5 | | | 7.6 | | | 13.1 | | | 6.9 | | | Interest expense | 2.1 | | | 1.8 | | | 3.8 | | | 4.2 | | | (Gain) loss on foreign exchange | (24.3) | | | 0.6 | | | (20.0) | | | 4.3 | | | Net (gain) loss on adjustment to fair value less estimated costs to sell | (14.6) | | | — | | | 240.6 | | | — | | | Net gain on sale of business | (30.8) | | | — | | | (30.8) | | | — | | | Other income, net | (0.6) | | | (0.4) | | | (0.9) | | | (0.5) | | | Earnings (loss) from discontinued operations before income taxes | 75.7 | | | 5.6 | | | (179.6) | | | (1.1) | | | Income tax expense | 2.2 | | | 1.7 | | | 3.2 | | | 1.0 | | | Net earnings (loss) from discontinued operations | $ | 73.5 | | | $ | 3.9 | | | $ | (182.8) | | | $ | (2.1) | |
The significant components included in our Consolidated Statements of Cash Flows for the discontinued operations are as follows (in millions):
| | | | | | | | | | | | | Six Months Ended
June 30, | | 2021 | | 2020 | | Depreciation, depletion and amortization | $ | 4.8 | | | $ | 10.8 | | | Deferred income taxes | (9.0) | | | (2.5) | | | Loss on impairment of long-lived assets | 237.6 | | | — | | | Gain on sale of business | (33.7) | | | — | | | Proceeds from sale of business | 56.7 | | | — | | | Capital expenditures | (5.4) | | | (3.0) | | | Changes in receivables | 7.2 | | | 2.6 | | | Changes in inventories | (25.7) | | | (11.4) | | | Changes in other assets | (15.1) | | | (7.2) | | | Changes in accounts payable and accrued expenses and other current liabilities | (29.6) | | | 18.6 | | | Proceeds from issuance of long-term debt | 21.8 | | | 22.2 | | | Principal payments on long-term debt | (12.0) | | | (16.7) | |
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