Disposition and Discontinued Operations

12 Months Ended

Dec. 31, 2016

Discontinued Operations And Disposal Groups [Abstract]

Disposition and Discontinued Operations

12. DISPOSITIONS AND DISCONTINUED OPERATIONS

Disposition of Real Estate occupiers

On August 1, 2016, MSCI completed the sale of its Real Estate occupiers business. The value of the disposed assets and liabilities and the resulting gain on disposal were not material to the Company.

Disposition of ISS

On March 17, 2014, MSCI entered into a definitive agreement to sell ISS. The results of operations from ISS and the CFRA product line are reflected in “Income (loss) from discontinued operations, net of income taxes” in the Consolidated Statements of Income.

The sale of ISS was completed on April 30, 2014 for $367.4 million. The value of the assets and liabilities of ISS that were disposed, directly attributable transaction costs and the resulting gain on disposal that has been reported in “Income (loss) from discontinued operations, net of income taxes” for the year ended December 31, 2014 are as follows:

	Amount
	(inthousands)
Cash proceeds	$	367,355
Less: Initial working capital adjustments		(311	)
Total proceeds		367,044
Less assets sold and liabilities relieved resulting from    disposal:
Cash and cash equivalents		(4,544	)
Accounts receivable		(15,765	)
Deferred taxes (current)		(3,174	)
Prepaid taxes		(617	)
Prepaid and other assets		(4,500	)
Property, equipment and leasehold improvements    (net of accumulated depreciation and    amortization of $4,213)		(8,544	)
Goodwill		(254,233	)
Intangible assets (net of accumulated amortization    of $50,283)		(121,269	)
Other non-current assets		(1,645	)
Accounts payable		574
Accrued compensation and related benefits		6,783
Other accrued liabilities		4,034
Deferred revenue		51,767
Deferred taxes (non-current)		59,129
Other non-current liabilities		5,576
Other comprehensive income including currency    translation adjustments and pension and other    post-retirement adjustments		4,004
Net assets sold		(282,424	)
Less: Transaction costs		(5,946	)
Gain on sale of ISS	$	78,674

Income (loss) from discontinued operations. Amounts associated with discontinued operations reflected in the Consolidated Statements of Income for the years ended December 31, 2015 and 2014 are as follows:

	Years Ended
	December31,			December31,
	2015			2014
	(in thousands)
Revenue from discontinued operations	$	—		$	43,122
Income (loss) from discontinued operations before    provision (benefit) for income taxes	$	—		$	86,230
Provision for income taxes		6,390			1,059
Income (loss) from discontinued operations,    net of income taxes	$	(6,390	)	$	85,171

The year ended December 31, 2015 reflects the impact of out-of-period income tax charges associated with the tax obligations triggered upon the sale of ISS.