Based on the preliminary sales proceeds, the related book values of the net assets disposed of and the effect of the reclassification of the foreign currency translation reserve, the pre-tax loss on the sale of the North American and Japanese closures businesses was $85 million for the year ended December 31, 2019, as follows:



(In $ million)	For the year ended December 31, 2019
Cash proceeds received	611
Disposal costs	(8	)
Net proceeds received	603

Details of net assets disposed of:
Cash and cash equivalents, net of bank overdrafts	9
Trade and other receivables, net	84
Inventories	76
Current tax assets	5
Property, plant and equipment	206
Intangible assets	422
Other assets	5
Trade and other payables	(92	)
Lease liabilities	(25	)
Deferred tax liabilities	(36	)
Employee benefits	(17	)
Provisions	(3	)
Other liabilities	(2	)
Net assets disposed of	632

Loss on sale before reclassification of foreign currency translation reserve	(29	)
Reclassification of foreign currency translation reserve	(56	)
Loss on disposal	(85	)

The following table presents summarized information in relation to the results and cash flows of the discontinued operations.



	For the year ended December 31,
(In $ million)	2019		2018		2017
Results of discontinued operations
Revenue	547		601		579
Expenses	(533	)	(539	)	(545	)
Profit (loss) before income tax	14		62		34
Income tax benefit (expense)	(6	)	(38	)	(16	)
Profit (loss) from discontinued operations prior to gain on disposal	8		24		18
Gain (loss) on disposal	(85	)	—		—
Tax benefit (expense) on disposal	—		—		—
Gain (loss) on disposal, net of tax	(85	)	—		—
Profit (loss) from discontinued operations	(77	)	24		18

Cash flows from (used in) discontinued operations
Net cash from (used in) operating activities	67		97		98
Net cash from (used in) investing activities	(42	)	(34	)	(28	)
Net cash from (used in) financing activities	(6	)	(1	)	(1	)
Net cash from (used in) discontinued operations	19		62		69