Discontinued Operations (Tables)

Results of discontinued operations were as follows for the six months and three months ended June 30, 2014 (in millions):



	Six Months Ended June 30, 2014		Three Months Ended June 30, 2014
Total revenues, less transaction-based expenses	$	329	$	166
Operating expenses:
Compensation and benefits	100		46
Technology and communication	27		12
Professional services	30		22
Rent and occupancy	12		5
Acquisition-related transaction and integration costs	96		55
Selling, general, administrative	15		5
Depreciation and amortization	16		7
Total operating expenses	296		152
Operating income	33		14
Other income, net	5		6
Income tax expense	17		12
Income from discontinued operations, net of tax	$	21	$	8

The total assets and total liabilities of Euronext removed from the Company's consolidated balance sheet as of the June 24, 2014 de-consolidation were $2.9 billion and $1.1 billion, respectively, including $2.3 billion in goodwill and other intangibles assets. The $1.8 billion in Euronext net assets removed in the de-consolidation is net of the 6% investment in Euronext held by the Company, valued at $107 million in the accompanying consolidated balance sheet as of June 30, 2014 (Note 12). There was no gain or loss recognized on the Euronext IPO and related de-consolidation, or on the sale of the NYSE Technologies companies as any differences in the carrying value of these net assets was adjusted in the NYSE purchase price allocation (Note 3). The results above are inclusive of $6 million in net gains included in other income, net, which were reclassified from other comprehensive income for Euronext currency translation adjustments and the discontinuance of the Company's net investment hedge. The following table presents the carrying value of the assets and liabilities of NYFIX, Metabit and Wombat that are held for sale in prepaid expenses and other current assets and other current liabilities in the accompanying consolidated balance sheet as of June 30, 2014 (in millions):



Assets:
Customer accounts receivable, net	$	22
Other current assets	7
Total current assets	29
Property and equipment, net	14
Goodwill and other intangible assets, net	136
Other non-current assets	63
Total non-current assets	199
Total assets	$	242
Liabilities:
Accounts payable and accrued liabilities	$	30
Other current liabilities	19
Total current liabilities	49
Total non-current liabilities	22
Total liabilities	$	71

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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