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Equity-Method Investments
 3 Months Ended
Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Equity-Method Investments
EQUITY-METHOD INVESTMENTS
LivingSocial’s summarized condensed financial information, as provided to us by LivingSocial, is as follows (in millions):
 
  
Three Months Ended 
 March 31,
 
2014
 
2013
Statement of Operations:
 
 
 
Revenue
$
77

 
$
108

Gross profit
62

 
82

Operating expenses
98

 
107

Operating loss from continuing operations
(36
)
 
(25
)
Net loss from continuing operations
(26
)
 
(26
)
Net income (loss) from discontinued operations (1)
203

 
(19
)
Net income (loss)
$
177

 
$
(45
)
___________________
(1)
In January 2014, LivingSocial completed the sale of its Korean operations for approximately $260 million and recognized a gain on disposal of $205 million, net of tax. The statement of operations information above has been recast to present the Korean operations as discontinued operations.
As of March 31, 2014, our total investment in LivingSocial is approximately 31% of voting stock and has a book value of $100 million.