Discontinued Operations

3 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

On May 21, 2024, the Company completed the sale of Carlisle Interconnect Technologies ("CIT") for cash proceeds of $2.025 billion, subject to certain customary purchase price adjustments, which were finalized in the third quarter of 2024.

A summary of the results from discontinued operations included in the Condensed Consolidated Statements of Income follows:


	Three Months Ended March 31, 2025
	CIT		Other		Total










(Loss) income from discontinued operations before income taxes(1)	(0.3)		2.6		2.3
(Benefit from) provision for from income taxes	(1.1)		0.2		(0.9)
Income from discontinued operations	$	0.8	$	2.4	$	3.2

(1)Related to other non-operating income and expenses


	Three Months Ended March 31, 2024
	CIT		Other		Total
Revenues	$	213.4	$	—	$	213.4

Cost of goods sold	153.8		—		153.8

Other operating expense (income), net	22.5		—		22.5
Operating income	37.1		—		37.1
Other non-operating expense (income), net	(0.2)		7.6		7.4
Income (loss) from discontinued operations before income taxes and loss from classification to held for sale	37.3		(7.6)		29.7
Loss on sale of discontinued operations	—		0.2		0.2
Pre-close transaction expenses(1)	7.6		—		7.6
Income (loss) from discontinued operations before income taxes	29.7		(7.8)		21.9
Provision for (benefit from) income taxes	3.4		(2.9)		0.5
Income (loss) from discontinued operations	$	26.3	$	(4.9)	$	21.4

(1)Includes legal fees and stock-based compensation expenses directly related to the sale incurred prior to the close of the transaction. Upon close of the transaction, these expenses are incorporated into the (gain)/loss on sale of discontinued operations.

A summary of cash flows from discontinued operations included in the Condensed Consolidated Statements of Cash Flows follows:



	Three Months Ended March 31, 2025
(in millions)	CIT		Other		Total
Net cash provided by operating activities	$	0.8	$	2.4	$	3.2
Net cash provided by investing activities	—		—		—
Net cash used in financing activities(1)	(0.8)		(2.4)		(3.2)
Change in cash and cash equivalents from discontinued operations	—		—		—
Cash and cash equivalents from discontinued operations at beginning of period	—		—		—
Cash and cash equivalents from discontinued operations at end of period	$	—	$	—	$	—


	Three Months Ended March 31, 2024
(in millions)	CIT		Other		Total
Net cash provided by (used in) operating activities	$	12.4	$	(4.9)	$	7.5
Net cash used in investing activities	(8.3)		—		(8.3)
Net cash (used in) provided by financing activities(1)	(15.3)		4.9		(10.4)
Change in cash and cash equivalents from discontinued operations	(11.2)		—		(11.2)
Cash and cash equivalents from discontinued operations at beginning of period	28.8		—		28.8
Cash and cash equivalents from discontinued operations at end of period	$	17.6	$	—	$	17.6

(1)Represents (repayments) or borrowings from the Carlisle cash pool to fund working capital and capital expenditures and return of capital upon sale.

CARLISLE COMPANIES INC 10-Q