Discontinued operations (Tables)

3 Months Ended

Mar. 31, 2020

Discontinued operations

Schedule of results of discontinued operations and financial information of the discontinued operation that are included in the Unaudited Condensed Consolidated Statements of Operations and Unaudited Consolidated Balance Sheets

Income from discontinued operations, net of tax in the Unaudited Condensed Consolidated Statements of Operations consist of the following:

	Three Months Ended
	March 31,
	2020		2019
Revenues:
Product	$	39	$	53
Service		36		43
Total revenues	$	75	$	96
Costs and expenses:
Product costs, excluding depreciation and amortization	$	34	$	41
Service costs, excluding depreciation and amortization		21		24
Selling, general and administrative		13		18
Depreciation and amortization		4		3
Impairment loss		12		—
Operating (loss) income		(9)		10
Interest expense, net		1		—
Other (income) expense, net1		(36)		1
Income before taxes		26		9
Income tax benefit		(4)		(2)
Income from discontinued operations, net of tax	$	30	$	11

¹ Other (income) expense, net includes the $39 million recovery of the previously recorded liability in relation to the Company’s dispute with the Ukrainian Customer.

The carrying amounts of the major classes of assets and liabilities, which are classified as held for sale in the Unaudited Condensed Consolidated Balance Sheets, are as follows:

	March 31,		December 31,
	2020		2019
Assets
Cash and cash equivalents	$	15	$	45
Trade and other receivables, net		125		168
Deferred tax assets		108		117
Property, plant and equipment		27		29
Intangible assets		21		27
Goodwill		287		310
Other assets 1		44		55
Current assets held for sale	$	627	$	751
Liabilities
Accounts payable	$	48	$	88
Accrued liabilities		15		18
Accrued compensation and benefits		19		21
Contract liabilities		26		29
Pension and other postretirement benefit liabilities		20		21
Other liabilities 2		47		53
Current liabilities held for sale	$	175	$	230

¹ Other assets include income tax receivables, operating lease assets, prepaid and other current assets.

²  Other liabilities include operating and finance lease liabilities, current income taxes payable and other current liabilities.