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Discontinued Operations
3 Months Ended
Mar. 31, 2014
Discontinued Operations [Abstract]  
Discontinued Operations

4) DISCONTINUED OPERATIONS

 

During 2013, the Company completed the sale of its outdoor advertising business in Europe (“Outdoor Europe”). Outdoor Europe has been presented as a discontinued operation in the Company's consolidated financial statements.

The following table sets forth details of the net loss from discontinued operations.

  Three Months Ended
  March 31, 2013
 Revenues from discontinued operations$123 
 Loss from discontinued operations before income taxes$(36) 
 Income tax benefit 16 
 Net loss from discontinued operations, net of tax$(20) 

Noncurrent assets of discontinued operations of $74 million and $82 million at March 31, 2014 and December 31, 2013, respectively, primarily consist of deferred tax assets for previously disposed businesses. Noncurrent liabilities from discontinued operations of $133 million and $148 million at March 31, 2014 and December 31, 2013, respectively, primarily include reserves for uncertain tax positions related to previously disposed businesses and the estimated fair value of guarantee liabilities of approximately $40 million.