Discontinued Operations

9 Months Ended

Sep. 30, 2012

Discontinued Operations [Abstract]

Discontinued Operations

3. Discontinued Operations

On May 5, 2011, the Company completed the sale of the GTA business to Kuoni. The results of operations of the GTA business are presented as discontinued operations in the Company’s consolidated condensed statements of operations and consolidated condensed statements of cash flows.

Summarized statement of operations data for the discontinued operations of the GTA business, excluding intercompany transactions, are as follows:

(in $ millions)	From January 1, 2011 to May 5, 2011
Net revenue		76
Operating expenses		86
Operating loss before income taxes		(10	)
Benefit from income taxes		4
Loss from discontinued operations, net of tax		(6	)
Gain from disposal of discontinued operations, net of tax		312
Total income from discontinued operations, net of tax		306

In connection with the sale of the GTA business to Kuoni, the Company agreed to indemnify Kuoni up to May 2017 for certain potential tax liabilities relating to pre-sale events. An estimate of the Company’s obligations under those indemnities is included within other non-current liabilities on the Company’s consolidated condensed balance sheets as of September 30, 2012 and December 31, 2011.