XML 37 R22.htm IDEA: XBRL DOCUMENT v3.2.0.727
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2015
Discontinued Operations [Abstract]  
Summarized financial information of discontinued businesses
Summarized financial information showing the results of operations of these discontinued operations was as follows:

  
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
(dollars in millions)
 
2015
  
2014
  
2015
  
2014
 
         
Revenues
 
$
–
  
$
134
  
$
–
  
$
284
 
Cost of sales (excluding depreciation and amortization)
  
–
   
(93
)
  
–
   
(203
)
All other (costs) gains(1)
  
4
   
(25
)
  
(1
)
  
(58
)
Gain on sale of Compression businesses, before tax
  
–
   
95
   
681
   
95
 
                 
Income before income taxes
  
4
   
111
   
680
   
118
 
Income tax provision
  
(1
)
  
(88
)
  
(248
)
  
(90
)
Income from discontinued operations, net of income taxes
 
$
3
  
$
23
  
$
432
  
$
28
 

(1)– Includes post-closing adjustments during the three months ended June 30, 2015.
 
The gain on the sale of the Compression businesses was determined as follows:

(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
  
(248
)
  
(85
)
Gain on sale
 
$
433
  
$
10