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Discontinued Operations
 9 Months Ended
Sep. 30, 2013
Notes To Condensed Consolidated Financial Statements [Abstract]  
Discontinued Operations and Assets Held for Sale
Discontinued Operations and Assets Held For Sale
During the third quarter of 2013, we entered into an agreement to sell PBMS NA. The sale closed on October 1, 2013 and we received cash proceeds of $392 million. In addition, during the third quarter of 2013, we sold our Nordic furniture business. Total proceeds from this sale were not material.
During the second quarter of 2013, we entered into two separate agreements to sell PBMSi and completed the sale of IMS. We closed on the agreements to sell PBMSi on July 5, 2013 and August 31, 2013. Total proceeds from the sale of PBMSi and IMS were not material.
The following tables show selected financial information included in discontinued operations:
 
Three Months Ended September 30, 2013
 
PBMS
 
IMS
 
Nordic furniture business
 
Total
Revenue
$
194,511

 
$
4

 
$
12,014

 
$
206,529

 
 
 
 
 
 
 
 
Loss from operations before taxes
$
(14,438
)
 
$
(1,072
)
 
$
(4,381
)
 
$
(19,891
)
Gain on sale
13,269

 
1,196

 
4,465

 
18,930

(Loss) income before taxes
(1,169
)
 
124

 
84

 
(961
)
Tax provision (benefit)
81,084

 
168

 
(9
)
 
81,243

(Loss) income from discontinued operations
$
(82,253
)
 
$
(44
)
 
$
93

 
$
(82,204
)
 
Three Months Ended September 30, 2012
 
PBMS
 
IMS
 
Nordic furniture business
 
Total
Revenue
$
220,887

 
$
32,461

 
$
12,539

 
$
265,887

 
 
 
 
 
 
 
 
Income (loss) before taxes
$
14,491

 
$
(30,086
)
 
$
79

 
$
(15,516
)
Tax provision (benefit)
7,210

 
(11,335
)
 
22

 
(4,103
)
(Loss) income from discontinued operations
$
7,281

 
$
(18,751
)
 
$
57

 
$
(11,413
)

 
Nine Months Ended September 30, 2013
 
PBMS
 
IMS
 
Nordic furniture business
 
Total
Revenue
$
639,237

 
$
23,036

 
$
37,785

 
$
700,058

 
 
 
 
 
 
 
 
Loss from operations before taxes
$
(116,018
)
 
$
(3,050
)
 
$
(4,859
)
 
$
(123,927
)
Gain (loss) on sale
13,269

 
(2,717
)
 
4,465

 
15,017

Loss before taxes
(102,749
)
 
(5,767
)
 
(394
)
 
(108,910
)
Tax provision (benefit)
61,679

 
(1,076
)
 
(144
)
 
60,459

(Loss) income from discontinued operations
$
(164,428
)
 
$
(4,691
)
 
$
(250
)
 
$
(169,369
)

 
Nine Months Ended September 30, 2012
 
PBMS
 
IMS
 
Nordic furniture business
 
Capital Services (1)
 
Total
Revenue
$
679,080

 
$
100,443

 
$
38,081

 
$
—

 
$
817,604

 
 
 
 
 
 
 
 
 
 
Income (loss) before taxes
$
47,015

 
$
(34,051
)
 
$
1,370

 
$
—

 
$
14,334

Tax provision (benefit)
20,589

 
(12,563
)
 
383

 
(19,332
)
 
(10,923
)
(Loss) income from discontinued operations
$
26,426

 
$
(21,488
)
 
$
987

 
$
19,332

 
25,257

(1) Represents tax benefits arising from the resolution of tax examinations related to our Capital Services business, which was sold in 2006.
 
 
 
 
 
 
 
 

The pre-tax loss from operations for PBMS for the three and nine months ended September 30, 2013 includes an estimated loss on disposal of $20 million and $36 million, respectively. The pre-tax loss from operations for PBMS for the nine months ended September 30, 2013 also includes goodwill impairment charges of $100 million and asset impairment charges of $15 million. The inputs used to determine the fair value of the long-lived assets and goodwill were classified as Level 3 in the fair value hierarchy.

The assets and related liabilities held for sale at September 30, 2013 consist of the following:
Accounts receivables
$
145,955

Inventories
1,595

Other current assets and prepayments
11,948

Total current assets
159,498

Property, plant and equipment, net (1)
77,001

Goodwill
302,487

Intangible assets, net
7,193

Other assets
4,462

Assets held for sale
$
550,641

 
 
Accounts payable and accrued liabilities
$
77,639

Advance billings
9,862

Total current liabilities
87,501

Other non-current liabilities
30,676

Liabilities related to assets held for sale
$
118,177

(1) Also includes the carrying value of our corporate headquarters building and certain surrounding parcels of land. See Note 6.