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Business Dispositions and Combinations (Tables)
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Summarized financial information of discontinued businesses
Summarized financial information relating to these businesses is shown below:
 
Year Ended December 31,
(dollars in millions)
2015
 
2014
 
2013
 
 
 
 
 
 
Revenues
$
—

 
$
428

 
$
701

Cost of sales (excluding depreciation and amortization)
—

 
(306
)
 
(498
)
All other costs
(2
)
 
(94
)
 
(105
)
Gain on sale of the compression businesses, before tax
681

 
95

 
—

Income before income taxes
679

 
123

 
98

Income tax provision
(248
)
 
(97
)
 
(33
)
Income from discontinued operations, net of income taxes
$
431

 
$
26

 
$
65

Gains on the sale of the Compression businesses were determined as follows (dollars in millions):
(dollars in millions)
Sale of Centrifugal Compression
Sale of Reciprocating Compression
Sales price
$
850

$
550

Net assets sold
(160
)
(442
)
Transaction and other costs associated with the sale
(9
)
(13
)
Pre-tax gain
681

95

Tax provision(1)
(248
)
(85
)
Gain on sale
$
433

$
10

 
(1)The tax provision associated with the pre-tax gain on the Reciprocating Compression business was impacted by nondeductible goodwill of approximately $192 million included in the total net assets sold.

As described further in Note 4 of the Notes to Consolidated Financial Statements, on August 27, 2015, Cameron entered into an agreement to sell the LeTourneau Offshore Products business within the Drilling Systems division to Keppel Offshore & Marine USA, Inc. for $100 million. This business is currently reflected as held for sale at December 31, 2015.
Assets and liabilities of all businesses held for sale in the Company’s Consolidated Balance Sheets at December 31, 2015 and 2014 were as follows:
(dollars in millions)
December 31, 2015
December 31, 2014
Receivables, net
$
4

$
37

Inventories, net
62

86

Other current assets
—

14

Plant and equipment, net
7

45

Intangibles, net
15

—

Goodwill
14

35

Assets held for sale
102

217

 
 
 

Accounts payable, accrued and other current liabilities
$
2

$
89

Other long-term liabilities
—

1

Liabilities held for sale
$
2

$
90