Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary purchase price allocation: 

(IN MILLIONS)

Fair value of business combination:
Cash paid for Arbitron common stock	$	1,296
Accrued payment for directors’ and employees’ equity awards pertaining to pre-merger service		42
Accrued dividend payment on Arbitron common stock		3
Fair value of previously held equity interest in Scarborough		75
Total	$	1,416
Identifiable assets acquired and liabilities assumed:
Cash	$	136
Other current assets		115
Property and equipment		32
Goodwill		931
Amortizable intangible assets		517
Other long term assets		3
Deferred revenue		(47	)
Other current liabilities		(53	)
Deferred tax liabilities		(200	)
Other long term  liabilities		(18	)
Total	$	1,416

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets and their estimated useful lives consist of the following:

(IN MILLIONS)
Description	Amount		Useful Life
Customer –related intangibles	$	323		10 - 20 years
Computer software		150		5 – 10 years
Trade names and trademarks		33		5 years
Covenants-not-to-compete		11		1-2 years
Total	$	517

Pro Forma Information

The following unaudited pro forma information presents the consolidated results of operations of the Company and Arbitron for the three and nine months ended September 30, 2013 and 2012, as if the acquisition had occurred on January 1, 2012, with pro forma adjustments to give effect to amortization of intangible assets, an increase in interest expense from acquisition financing, and certain other adjustments:

	ThreeMonthsEnded September30,					NineMonthsEnded September30,
(IN MILLIONS)	2013		2012		2013			2012
Revenues	$	1,510	$	1,464	$		4,447	$	4,302
Income from continuing operations	$	152	$	106	$		306	$	241