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BUSINESS DEVELOPMENT, ASSETS HELD FOR SALE AND DISPOSITIONS (Tables)
 3 Months Ended
Mar. 31, 2012
Operating Results of Discontinued Operations

The following table summarizes the operating results of the discontinued operations for the periods indicated (in millions):

 

     Three Months Ended
March 31,		  
             2012                     2011          

Revenues

    $ —      $ 46    

Operating expenses, including net gain on disposal of assets held for sale in 2011 (1)

    $ (1 )    $ 99    

(Loss) income before income tax benefit (expense) and equity in net income from unconsolidated investments

    $ (1 )    $ 146    

Equity in net income from unconsolidated investments

    $ 1      $ 6    

Income from discontinued operations, net of income tax expense of $0 and $2, respectively

    $ —      $ 149    

 

  (1)

During the first quarter of 2011, we recorded a net after-tax gain on disposal of assets held for sale of $136 million.
Assets and Liabilities of the Asset Held for Sale Included in the Condensed Consolidated Balance Sheets

The following table sets forth the assets and liabilities of the assets held for sale included in the condensed consolidated balance sheets as of the dates indicated (in millions):

 

     As of  
     March 31,
2012		      December 31,
2011		  

Cash and cash equivalents

     $               2          $               2     

Accounts receivable

      1           1     

Investments in investees and joint ventures

      15           15     
  

 

 

     

 

 

  

Assets held for sale

     $ 18          $ 18     
  

 

 

     

 

 

  

Accrued expenses and other

     $ 3          $ 3     
  

 

 

     

 

 

  

Liabilities held for sale

     $               3          $               3