Other Financial Information

Other Current Assets

The following table presents details of other current assets in our consolidated balance sheets:



	As of March 31, 2015		As of December 31, 2014
	(Dollars in millions)
Prepaid expenses	$	293	260
Materials, supplies and inventory	137		132
Assets held for sale	18		14
Deferred activation and installation charges	104		103
Other	70		71
Total other current assets	$	622	580

For the three months ended March 31, 2015, we recorded impairment charges of $8 million in connection with pending negotiations involving several office buildings which we expect to sell within the next twelve months.

Selected Current Liabilities

The following table presents current liabilities reflected in our consolidated balance sheets, which include accounts payable and other current liabilities:



	As of March 31, 2015		As of December 31, 2014
	(Dollars in millions)
Accounts payable	$	1,068	1,226
Other current liabilities:
Accrued rent	$	28	34
Legal reserves	43		27
Other	188		149
Total other current liabilities	$	259	210

Included in accounts payable at March 31, 2015 and December 31, 2014, were $62 million and $80 million, respectively, representing book overdrafts and $107 million and $185 million, respectively, associated with capital expenditures.