Other Financial Information

Other Current Assets

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



	As of December 31,
	2015		2014
	(Dollars in millions)
Prepaid expenses	$	238	260
Materials, supplies and inventory	144		132
Assets held for sale	8		14
Deferred activation and installation charges	105		103
Other	86		71
Total other current assets	$	581	580

Assets held for sale includes several assets that we expect to sell within the next twelve months. During 2014, we sold our remaining 700 MHz A-Block wireless spectrum licenses, which we purchased in 2008 but never placed into service. As a result of changes in market conditions and prevailing spectrum prices, we recorded an impairment charge of $14 million, which is included in other income, net in our consolidated statements of operations for the for the year ended December 31, 2014. The sale closed on November 3, 2014, and we received $39 million in cash in the aggregate.

In January 2013, we sold $43 million of our wireless spectrum assets held for sale. The sale resulted in a gain of $32 million, which is recorded as other income, net on our consolidated statements of operations.

Selected Current Liabilities

Current liabilities reflected in our consolidated balance sheets include accounts payable and other current liabilities as follows:



	As of December 31
	2015		2014
	(Dollars in millions)
Accounts payable	$	968	1,226
Other current liabilities:
Accrued rent	$	32	34
Legal reserves	20		27
Other	168		149
Total other current liabilities	$	220	210

Included in accounts payable at December 31, 2015 and 2014, were $68 million and $80 million, respectively, representing book overdrafts and $94 million and $185 million, respectively, associated with capital expenditures.