Summary of Discontinued Operations |
The following table summarizes the results of our discontinued operations (in thousands): | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2015 | | 2014 | | 2015 | | 2014 | Revenue | $ | 1,038 |
| | $ | 85,978 |
| | $ | 24,292 |
| | $ | 260,652 |
| Cost of revenue | 5,254 |
| | 26,921 |
| | 19,279 |
| | 94,472 |
| Selling, general and administrative(1) | (42,046 | ) | | 61,032 |
| | (20,538 | ) | | 236,466 |
| Operating income (loss) | 37,830 |
| | (1,975 | ) | | 25,551 |
| | (70,286 | ) | Other income (expense): | |
| | |
| | |
| | |
| Interest expense, net | — |
| | (2,559 | ) | | — |
| | (5,917 | ) | Gain on sale of businesses(2) | 30,709 |
| | — |
| | 294,276 |
| | — |
| Other, net | (321 | ) | | (952 | ) | | 2,178 |
| | (445 | ) | Total other income (expense), net | 30,388 |
| | (3,511 | ) | | 296,454 |
| | (6,362 | ) | Income (loss) from discontinuing operations before income taxes | 68,218 |
| | (5,486 | ) | | 322,005 |
| | (76,648 | ) | Provision (benefit) for income taxes | 14,326 |
| | (1,540 | ) | | 108,506 |
| | (31,996 | ) | Net income (loss) from discontinued operations | $ | 53,892 |
| | $ | (3,946 | ) | | $ | 213,499 |
| | $ | (44,652 | ) |
______________________________________ | | (1) | In September 2015, we recognized a gain of $40 million as a result of the favorable final ruling from the Supreme Court of Hawaii and receipt of a cash refund related to our litigation of hotel occupancy taxes. See Note 11, Contingencies, for additional information. |
| | (2) | Includes $31 million of reclassified cumulative translation gains associated with our lastminute.com subsidiaries. See below "Divestiture of lastminute.com—Cumulative Translation Adjustments" for additional information. |
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