Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Results of Discontinued Operations

Results of discontinued operations were as follows for the years ended December 31, 2014 and 2013 (in millions):

	Year Ended December 31, 2014		Year Ended December 31, 2013
Total revenues, less transaction-based expenses	$	347	$	76
Operating expenses:
Compensation and benefits	105		29
Technology and communication	31		6
Professional services	31		6
Rent and occupancy	12		4
Acquisition-related transaction and integration costs	103		22
Selling, general, administrative	16		4
Depreciation and amortization	16		5
Total operating expenses	314		76
Operating income	33		—
Other income (expense), net	5		(4		)
Income tax expense	27		46
Income (loss) from discontinued operations, net of tax	$	11	$	(50	)