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ACQUISITIONS, DIVESTITURES AND DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Summarized Results from Discontinued Operations
Summarized results from discontinued operations were as follows:
DISCONTINUED OPERATIONS
(Dollars in millions)
 
 
 
 
 
 
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
2019
 
2018
 
2019
 
2018
Revenues
$
398

 
$
375

 
$
1,222

 
$
1,190

Cost of sales
(249
)
 
(246
)
 
(765
)
 
(794
)
Operating expenses
(38
)
 
(41
)
 
(123
)
 
(151
)
Interest and other
(3
)
 
(6
)
 
(12
)
 
(15
)
Income before income taxes and equity earnings
108

 
82

 
322

 
230

Income tax benefit (expense)
148

 
(28
)
 
(32
)
 
(94
)
Equity earnings
—

 
—

 
2

 
1

Income from discontinued operations, net of income tax
256

 
54

 
292

 
137

Earnings attributable to noncontrolling interests
(8
)
 
(8
)
 
(25
)
 
(22
)
Earnings from discontinued operations attributable to common shares
$
248

 
$
46

 
$
267

 
$
115


The following table summarizes the carrying amounts of the major classes of assets and related liabilities classified as held for sale in discontinued operations.
ASSETS HELD FOR SALE IN DISCONTINUED OPERATIONS
(Dollars in millions)
 
 
 
 
September 30,
2019
 
December 31, 2018
Cash and cash equivalents
$
359

 
$
88

Restricted cash(1)
1

 
—

Accounts receivable, net
290

 
315

Due from unconsolidated affiliates
2

 
2

Inventories
44

 
38

Other current assets
24

 
16

Current assets
$
720

 
$
459

 
 
 
 
Due from unconsolidated affiliates
$
51

 
$
44

Goodwill and other intangible assets
803

 
819

Property, plant and equipment, net
2,502

 
2,357

Other noncurrent assets
39

 
39

Noncurrent assets
$
3,395

 
$
3,259

 
 
 
 
Short-term debt
$
75

 
$
55

Accounts payable
165

 
176

Dividends payable
428

 
8

Current portion of long-term debt and finance leases
39

 
29

Other current liabilities
97

 
100

Current liabilities
$
804

 
$
368

 
 
 
 
Long-term debt and finance leases
$
687

 
$
708

Deferred income taxes
274

 
250

Other noncurrent liabilities
62

 
55

Noncurrent liabilities
$
1,023

 
$
1,013


(1) 
Primarily represents funds held in accordance with Peruvian tax law.