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Growth and Value Plan & Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Growth and Value Plan Restructuring Charges

The table below summarizes our costs related to the Growth and Value Plan including restructuring charges for the year ended December 31, 2012:



(in millions)
	Continuing		Discontinued
Professional fees	$	117	$	17
Restructuring charges	68		39
Transaction costs for our S&P Dow Jones Indices LLC joint venture	15		—
Charges related to lease commitments	8		3
Miscellaneous charges	18		2
	$	226	$	61

Schedule of Growth and Value Plan Selling and General Expenses

The Growth and Value Plan costs are included in selling and general expenses in our consolidated statements of income as follows:



(in millions)	Years ended December 31,
	2012		2011
Growth and Value Plan costs	$	226	$	10
Other selling and general expenses	1,483		1,377
Total selling and general expenses	$	1,709	$	1,387

Schedule of Disposal Groups

The key components of (loss) income from discontinued operations consist of the following:



(in millions)	Years ended December 31,
	2012			2011			2010
Revenue	$	2,062		$	2,382		$	2,529
Expenses	2,287			2,035			2,135
Operating (loss) profit	(225		)	347			394
Interest income, net	(2		)	(3		)	(2		)
(Loss) income before taxes on (loss) income	(223		)	350			396
Provision for taxes on (loss) income	11			116			144
(Loss) income from discontinued operations before gain on sale	(234		)	234			252
Gain from discontinued operations, net of taxes of $48	—			74			—
(Loss) income from discontinued operations, net of tax	$	(234	)	$	308		$	252

The components of assets and liabilities classified as discontinued operations in the consolidated balance sheets consist of the following:



(in millions)	December 31,
	2012		2011
Accounts receivable, net	$	333	$	343
Property and equipment, net	122		127
Goodwill	469		944
Other intangible assets, net	156		181
Inventories, net	235		262
Prepublication costs	304		325
Other assets	321		326
Assets held for sale	$	1,940	$	2,508

Accounts payable and accrued expenses	123		157
Unearned revenue	192		117
Other liabilities	349		445
Liabilities held for sale	$	664	$	719

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details