Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

Note 13. Discontinued Operations

During the nine months ended September 30, 2013, we recorded a $70 million tax benefit, primarily as a result of the reversal of a reserve associated with an uncertain tax position, which was related to a previous disposition. The applicable statute of limitation for this tax position lapsed during the first quarter of 2013 (see Note 15).

During the three months ended September 30, 2012, the gain of $23 million (net of tax) primarily relates to the favorable settlement of certain liabilities associated with a former subsidiary of ITT Corporation, which was acquired by us in 1998. The net gain of $15 million (net of tax) for the nine months ended September 30, 2012 also includes a charge of $5 million (net of tax) to record at fair market value, based on current market prices, certain wholly-owned hotels that were sold in 2012 and where we no longer have any continuing involvement. Additionally, we recorded a loss of $1 million and $3 million (net of tax) for the three and nine months ended September 30, 2012, respectively, for accrued interest related to the uncertain tax position that lapsed during the first quarter of 2013.