XML 105 R34.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Discontinued Operations and Disposal Groups (Tables)
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table summarizes the operating results of discontinued operations described above and reflected within "Net (loss) income from discontinued operations" in the Company’s Consolidated Statements of Operations for each of the periods presented:
 Year Ended December 31,
 201920182017
Net revenues$272  $297  $304  
Total expenses281  305  297  
(Loss) income from discontinued operations(9) (8) 7  
Estimated loss on the sale of discontinued operations (a)(22) —  —  
Income tax expense (benefit) from discontinued operations (b)36  (2) 1  
Net (loss) income from discontinued operations$(67) $(6) $6  
_______________
(a)Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the Purchase Agreement.
(b)Income tax expense for the year ended December 31, 2019 relates to tax expense as a result of the expected taxable gain on the sale of Cartus Relocation Services, primarily as a result of the Company's low tax basis in goodwill, trademarks and other intangibles.
Assets and liabilities held for sale related to discontinued operations presented in the Consolidated Balance Sheets at December 31, 2019 and 2018 are as follows:
 December 31,
 2019 (a)2018
Carrying amounts of the major classes of assets held for sale
Cash and cash equivalents$28  $22  
Restricted cash3  11  
Trade receivables46  61  
Relocation receivables203  231  
Other current assets12  13  
Total current assets338  
Property and equipment, net36  31  
Operating lease assets, net36  —  
Goodwill176  176  
Trademarks76  76  
Other intangibles, net156  174  
Other non-current assets—  4  
Total non-current assets461  
Allowance for reduction of assets held for sale (b)(22) 
Total assets classified as held for sale$750  $799  
Carrying amounts of the major classes of liabilities held for sale
Accounts payable$53  $64  
Securitization obligations206  231  
Current portion of operating lease liabilities6  —  
Accrued expenses and other current liabilities62  57  
Total current liabilities352  
Long-term operating lease liabilities29  —  
Other non-current liabilities—  3  
Total non-current liabilities3  
Total liabilities classified as held for sale$356  $355  
_______________
(a)The assets and liabilities of Cartus Relocation Services are classified as current on the December 31, 2019 balance sheet because it is probable that the sale will occur and proceeds will be collected within one year.
(b)Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on the Purchase Agreement.