DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2019

DISCONTINUED OPERATIONS

Schedule of financial statement information for discontinued operations

	July 1,
	2019
	(in millions)
Consideration received (1)	$	4,451.9
Net carrying value of assets and liabilities (including other comprehensive income)		3,939.7
Pre-tax gain on deconsolidation	$	512.2

(1) Consideration as defined included cash associated with the sold Epsilon entities, which was $42.2 million.

	Years Ended December 31,
	2019		2018		2017
	(in millions)
Revenue	$	999.6	$	2,175.1	$	2,272.1
Cost of operations (exclusive of depreciation and amortization disclosed separately below)		993.9		1,744.4		1,834.8
Depreciation and other amortization		29.7		115.4		109.4
Amortization of purchased intangibles		43.5		178.3		200.3
Interest expense (1)		64.1		128.3		109.0
Gain on sale of Epsilon		(512.2)		—		—
Income before provision (benefit) from income taxes		380.6		8.7		18.6
Provision (benefit) for income taxes		675.2		(8.9)		(0.9)
(Loss) income from discontinued operations, net of taxes (2)	$	(294.6)	$	17.6	$	19.5

(1) The Company’s credit agreement, as amended, provided that upon consummation of the sale of Epsilon, a mandatory payment of $500.0 million of the revolving credit facility was required and all of the Company’s outstanding senior notes were required to be redeemed. As such, interest expense has been allocated to discontinued operations on the basis of the Company’s $500.0 million mandatory repayment of its revolving line of credit and redemption of its $1.9 billion in senior notes outstanding.

(2) Reflects the results of operations of the Company’s former Epsilon segment, direct costs identifiable to the Epsilon segment including a loss contingency associated with indemnification issues with the purchaser as described in Note 18, “Commitments and Contingencies,” and the allocation of interest expense on corporate debt.

	December 31,
	2018
	(in millions)
Assets:
Cash and cash equivalents	$	45.7
Accounts receivable, net		519.9
Other current assets		56.6
Property and equipment, net		306.9
Intangible assets, net		322.3
Goodwill		2,886.2
Other assets		19.8
Total assets of discontinued operations	$	4,157.4
Liabilities:
Accounts payable	$	72.2
Accrued expenses		98.8
Other current liabilities		52.5
Other liabilities		36.9
Total liabilities of discontinued operations	$	260.4

	Years Ended December 31,
	2019		2018		2017
	(in millions)
Depreciation and amortization	$	73.2	$	293.7	$	309.7
Capital expenditures	$	55.8	$	106.5	$	107.2