Total assets, discontinued operations

[Table of Conten](#i207805ce14724a60909000a6c8cb9e11_7)[t](#i207805ce14724a60909000a6c8cb9e11_7)[s](#i207805ce14724a60909000a6c8cb9e11_7)The following table summarizes the major classes of assets and liabilities of discontinued operations that were included in the Company’s Consolidated Balance Sheets as of December 31 ($ in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|   | 2021 |  | 2020 |
| ASSETS |  |  |  |
| Accounts receivable, net | $ | —  |  |  | $ | —  |  |
| Inventories | —  |  |  | —  |  |
| Other current assets | —  |  |  | 30.4  |  |
| Total current assets, discontinued operations | —  |  |  | 30.4  |  |
| Property, plant and equipment, net | —  |  |  | —  |  |
| Goodwill | —  |  |  | —  |  |
| Other intangible assets, net | —  |  |  | —  |  |
| Other non-current assets | —  |  |  | —  |  |
| Total other assets, discontinued operations | —  |  |  | —  |  |
| Total assets, discontinued operations | $ | —  |  |  | $ | 30.4  |  |
| LIABILITIES |  |  |  |
| Current liabilities: |  |  |  |
| Trade accounts payable | $ | —  |  |  | $ | —  |  |
| Accrued expenses and other current liabilities | —  |  |  | (33.3) |  |
| Total current liabilities, discontinued operations | —  |  |  | (33.3) |  |
|  |  |  |  |
| Other long-term liabilities | —  |  |  | —  |  |
| Total liabilities, discontinued operations | $ | —  |  |  | $ | (33.3) |  |

Combination of the Tektronix Video Business with TelestreamOn July 20, 2019, we completed the combination of the Tektronix Video test and monitoring equipment business (“Tektronix Video Business”) with Telestream, LLC (the “Combined Business”), a portfolio company of Genstar Capital LLC. We recognized a pretax gain of $41 million upon the combination, and hold a 33% equity stake in the Combined Business. This transaction did not meet the criteria for discontinued operations reporting, and therefore the operating results of the Tektronix Video Business prior to the combination with Telestream are included in continuing operations for all periods presented. At December 31, 2021 and December 31, 2020, the carrying amount of the investment in the Combined Business included in other assets in the Consolidated Balance Sheets was $66 million and $77 million, respectively. For the years ended December 31, 2021 and December 31, 2020, the loss from our equity investment in the Combined Business recorded in Other non-operating expenses, net in the Consolidated Statements of Earnings was $11 million and $4 million, respectively. NOTE 5. INVENTORIESThe classes of inventory as of December 31 are summarized as follows ($ in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2021 |  | 2020 |
| Finished goods | $ | 215.4  |  |  | $ | 227.9  |  |
| Work in process | 94.0  |  |  | 75.2  |  |
| Raw materials | 203.3  |  |  | 152.4  |  |
| Total | $ | 512.7  |  |  | $ | 455.5  |  |

As of December 31, 2021 and 2020, the difference between inventories valued at LIFO and the value of that same inventory if the FIFO method had been used was not significant. The liquidation of LIFO inventory did not have a significant impact on our results of operations in any period presented.71
