v2.4.0.8
Assets held for sale and discontinued operations
 6 Months Ended
Jun. 30, 2013
Assets held for sale and discontinued operations  
Assets held for sale and discontinued operations

11. Assets held for sale and discontinued operations

        The Florida Projects and Path 15 were sold on April 12, 2013 and April 30, 2013, respectively. Accordingly, the projects' net income (loss) is recorded as income (loss) from discontinued operations, net of tax in the statements of operations for the three and six months ended June 30, 2013 and 2012.

        The following tables summarize the revenue, income (loss) from operations, and income tax expense of Path 15, Auburndale, Lake, and Pasco for the three and six months ended June 30, 2013 and 2012:

 
   Three months ended
June 30,		   Six months ended
June 30,		  
(in millions)
  2013   2012   2013   2012  

Revenue

   $ 8.4   $ 53.8   $ 71.6   $ 102.7  
                   

Income (loss) from operations of discontinued businesses

     (0.3 )   19.1     1.0     31.3  
                   

Income tax expense (benefit)

     0.4     (0.2 )   0.8     0.4  
                   

Income (loss) from operations of discontinued businesses, net of tax

   $ (0.7 ) $ 19.3   $ 0.2   $ 30.9  
                   

        Basic and diluted earnings (loss) per share related to income from discontinued operations for the Florida Projects and Path 15 were $(0.01) and $0.17 for the three month periods ended June 30, 2013 and 2012, respectively, and $0.00 and $0.27 for the six month periods ended June 30, 2013 and 2012, respectively.

        The assets and liabilities of these projects classified as assets held for sale in the accompanying consolidated balance sheets as of December 31, 2012 consisted of the following:

(in millions)
  December 31, 2012  

Current assets:

        

Cash and cash equivalents

   $ 6.5  

Restricted cash

     12.6  

Accounts receivable

     21.9  

Other current assets

     6.3  
       

 

     47.3  

Non-current assets:

        

Property, plant & equipment

     111.9  

Transmission system rights

     172.4  

Goodwill

     8.9  

Other assets

     10.9  
       

Assets from discontinued operations

     351.4  

Current liabilities:

        

Accounts payable and other accrued liabilities

   $ 16.5  

Current portion of long-term debt

     14.3  

Current portion of derivative instruments liability

     20.0  

Other liabilities

     0.5  
       

 

     51.3  

Long-term liabilities

        

Long-term debt

     137.7  

Other long-term liabilities

     —  
       

Liabilities from discontinued operations

     189.0