Assets and Liabilities Held For Sale

As of December 31, 2018, our BWise business was recorded as held for sale and as of December 31, 2017, our Public Relations Solutions and Digital Media Services businesses were recorded as held for sale.

2018 Assets and Liabilities Held For Sale

As part of Nasdaq's renewed corporate strategy to embrace our leading technology, information analytics and market strengths, in December 2018, we decided to sell BWise, our internal audit, regulatory compliance management, and operational risk management software that comprises our governance, risk and compliance product offering. BWise is part of our Corporate Solutions business within our Corporate Services segment.

We determined that we met all of the criteria to classify the assets and liabilities of BWise as held for sale as of December 31, 2018. The disposal of BWise did not represent a strategic shift that would have a major effect on our operations and financial results and is, therefore, not classified as discontinued operations. No impairment charge was recorded for the year ended December 31, 2018 as the carrying amount of the net assets was less than the fair value less costs to sell. Fair value was determined based upon the anticipated sales price of these products and services based on current market conditions and assumptions made by management, which may differ from actual results and may result in an impairment if market conditions deteriorate.

In February 2019, we entered into an agreement to sell BWise. Based on the sales price in the agreement, no impairment charge was recorded. See “Agreement to Sell BWise,” of Note 21, “Subsequent Events,” for further discussion.

2017 Assets and Liabilities Held For Sale

As of December 31, 2017, the Public Relations Solutions and Digital Media Services businesses were classified as held for sale. The disposal of these businesses did not represent a strategic shift that would have had a major effect on our operations and financial results and were, therefore, not classified as discontinued operations.

In April 2018, we sold these businesses. See “2018 Divestiture,” of Note 3, “Acquisitions and Divestiture,” for further discussion. Based on the sales price in the agreement, no impairment charge was recorded at the time of the sale as the carrying amount of the net assets was less than the sales price in the agreement less costs to sell.

Major Classes of Assets and Liabilities Held For Sale

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale at December 31, 2018 and 2017 were as follows:



	December 31, 2018		December 31, 2017
	(in millions)
Receivables, net	$	13	$	27
Property and equipment, net	10		21
Goodwill⁽¹⁾	47		202
Intangible assets, net⁽²⁾	16		38
Other assets	3		9
Total assets held for sale⁽³⁾	$	89	$	297

Deferred tax liabilities	$	4	$	16
Deferred revenue	12		2
Other current liabilities	4		27
Total liabilities held for sale⁽⁴⁾	$	20	$	45

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⁽¹⁾	The assignment of goodwill was based on the relative fair value of the disposal group and the portion of the remaining reporting unit.

⁽²⁾Primarily represents customer relationships.

⁽³⁾Included in other current assets in the Consolidated Balance Sheets as of December 31, 2018 and 2017.

⁽⁴⁾Included in other current liabilities in the Consolidated Balance Sheets as of December 31, 2018 and 2017.