On September 1, 2024, the Company entered into an agreement to sell its flexographic printing plate business, MacDermid Graphics Solutions, for approximately $325 million. MacDermid Graphics Solutions constitutes substantially all of the Company’s Graphics Solutions business within its Industrial & Specialty segment. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions and adjustments.

The pending disposition met the accounting criteria to be classified as held for sale but did not meet the criteria to be reported as discontinued operations. As a result, the assets and liabilities of MacDermid Graphics Solutions are classified as held for sale in the Consolidated Balance Sheets and depreciation and amortization ceased as of September 1, 2024. The Company compared the expected proceeds from the transaction less costs to sell to the carrying value of MacDermid Graphics Solutions and determined that its fair value exceeded its carrying value.

The major components of MacDermid Graphics Solutions' assets and liabilities classified as held for sale were as follows:


(dollars in millions)	December 31, 2024
Assets held for sale:
Accounts receivable, net	$	28.7
Inventories	30.6
Other current assets	5.9
Current assets held for sale	$	65.2
Property, plant and equipment, net	35.3
Goodwill	127.9
Intangible assets, net	11.0
ROU assets	11.3
Other assets	3.4
Non-current assets held for sale	$	188.9
Liabilities held for sale:
Accounts payable	$	9.3
Accrued expenses and other current liabilities	9.4
Current liabilities held for sale	$	18.7
Non-current lease liabilities	11.4
Other liabilities	2.1
Non-current liabilities held for sale	$	13.5