Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2015

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

On May 14, 2015, the Company entered into a definitive agreement to sell CCAL to a consortium of investors led by Macquarie Infrastructure and Real Assets (collectively, "Buyer"). On May 28, 2015, the Company completed the sale. At closing, the Company received net proceeds of approximately $1.1 billion after accounting for the Company's 77.6% ownership interest, repayment of intercompany debt owed to the Company by CCAL and estimated transaction fees and expenses, exclusive of the impact of foreign currency swaps related to the CCAL sale (see note 9).

As part of the sale of CCAL, in January 2016, the Company received an installment payment from the Buyer totaling approximately $124 million, inclusive of the impact of the related foreign currency swap (see note 9). The installment payment is included within "other current assets" on the Company's consolidated balance sheet.

During the second quarter 2015, the Company used net proceeds from the sale of CCAL to repay portions of outstanding borrowings under its previously outstanding 2012 Credit Facility. See note 8.

The Company entered into foreign currency swaps to manage and reduce its foreign currency risk associated with the sale of CCAL. These swaps are not included in discontinued operations. See note 9.

CCAL has historically been a separate operating segment of the Company (see note 16). The sale of the Company's CCAL operating segment is treated as discontinued operations for all periods presented pursuant to ASU 2014-08, which the Company adopted on January 1, 2015 (see note 2). The sale of CCAL represents a strategic shift of the Company to focus on U.S. operations. The gain from disposal of CCAL is included in discontinued operations on the consolidated statement of operations. The tables below set forth the assets and liabilities related to discontinued operations at December 31, 2014, and their results of operations for the years ended December 31, 2015, 2014 and 2013.

	As of December 31, 2014
Assets and liabilities related to discontinued operations:
Current assets	$	61,289
Property and equipment	165,528
Other non-current assets	185,966
Total assets related to discontinued operations	$	412,783
Current liabilities	94,297
Non-current liabilities	33,196
Total liabilities related to discontinued operations	$	127,493
	Year Ended December 31,
	2015(b)(c)			2014(b)			2013(b)
Total revenues	$	65,293		$	151,128		$	156,633
Total cost of operations (a)	17,498			43,860			55,779
Depreciation, amortization, and accretion	10,168			27,283			32,873
Total other expenses	10,481			26,921			26,453
Pre-tax income from discontinued operations	27,146			53,064			41,528
Benefit (provision) from income taxes	(7,456		)	(604		)	(7,628		)
Net income (loss) from discontinued operations(d)	$	19,690		$	52,460		$	33,900

(a) Exclusive of depreciation, amortization, and accretion shown separately.

(b) No interest expense has been allocated to discontinued operations.

(c) CCAL results are through May 28, 2015, which was the closing date of the Company's sale of CCAL.

(d) Exclusive of the gain (loss) from disposal of discontinued operations, net of tax, as presented on the consolidated statement of operations.

The Company recorded a gain on the sale of CCAL, which was comprised of the following items:

Cash received from sale of CCAL(a)	$	1,139,369
Installment payment receivable due January 2016(a)	117,384
Total proceeds from sale of CCAL	$	1,256,753
Adjusted for:
Net assets and liabilities related to discontinued operations(b)(c)	258,575
Transaction fees and expenses	23,059
Foreign currency translation reclassification adjustments(d)	(25,678		)
Pre-tax gain (loss) from disposal of discontinued operations	1,000,797
Income taxes related to the sale of CCAL	(21,438		)
Gain (loss) from disposal of discontinued operations	$	979,359

(a) Exclusive of foreign currency swaps and based on exchange rates as of May 28, 2015, which was the closing date of the Company's sale of CCAL. See note 9. The impact of fluctuations in the exchange rate subsequent to the closing date are reflected as a component of "other income (expense)" on the Company's consolidated statement of operations.

(b) Represents net assets attributable to CCIC, net of the disposition of noncontrolling interest of $23.5 million.

(c) Inclusive of $11.1 million of cash.

(d) Represents foreign currency translation adjustments previously included in "accumulated other comprehensive income (loss)" on the consolidated balance sheet and reclassified to "net gain (loss) from disposal of discontinued operations, net of tax"