Discontinued Operations and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Contracted Power segment

The following is a summary of the assets and liabilities held for sale included in the Company’s consolidated balance sheet related to its former Contracted Power segment as of December 31, 2018 ($ in millions):

	December 31, 2018
Assets
Cash and cash equivalents	$	3
Restricted cash	14
Accounts receivable, net	9
Other current assets	5
Total current assets	31
Property, equipment, land and leasehold improvements, net	606
Intangible assets, net	9
Other noncurrent assets	2
Total assets	$	648
Liabilities
Accounts payable and accrued expenses	$	7
Current portion of long-term debt	20
Other current liabilities	1
Total current liabilities	28
Long term debt, net of current portion	283
Other noncurrent liabilities	6
Total liabilities	$	317
Noncontrolling interests	$	141

Summarized financial information for discontinued operations included in the Company’s consolidated statement of operations in 2019, 2018 and 2017 are as follows ($ in millions):

	Year Ended December 31,
	2019			2018			2017
Product revenue	$	44		$	150		$	146
Cost of product sales	(7		)	(24		)	(21		)
Selling, general & administrative expenses	(19		)	(25		)	(25		)
Depreciation and amortization	—			(38		)	(60		)
Interest expense, net	(13		)	(17		)	(23		)
Other income (expense), net(1)	80			(14		)	1
Net income from discontinued operations before income taxes	85			32			18
(Provision) benefit for income taxes	(33		)	(2		)	4
Net income from discontinued operations	52			30			22
Less: net (loss) income attributable to noncontrolling interests	(3		)	(39		)	5
Net income from discontinued operations attributable to MIC	$	55		$	69		$	17

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(1)

Other income (expense), net, includes gain of approximately $80 million from the sale of renewable businesses in 2019 and loss of $17 million from the sale of BEC in 2018.