Annual report pursuant to Section 13 and 15(d)

Discontinued Operations

v2.4.0.6
Discontinued Operations
 12 Months Ended
Sep. 30, 2012
Notes to Financial Statements [Abstract]  
Note 9 - Discontinued Operations
Note 9. Discontinued Operations
On March 27, 2011, the FLO TV business and network were shut down. On December 27, 2011, the Company completed the sale of substantially all of its 700 MHz spectrum for $1.9 billion, and as a result, the Company recognized a gain in discontinued operations of $1.2 billion during fiscal 2012. All remaining assets have been considered disposed of since March 27, 2011, the date on which the assets ceased to be used. Since the shut down of the FLO TV business and network, the Company has been working to sell the remaining assets and exit contracts. Accordingly, the results of operations of the FLO TV business are presented as discontinued operations. Income (loss) from discontinued operations includes share-based compensation and excludes certain general corporate expenses allocated to the FLO TV business during the periods presented.
Summarized results from discontinued operations were as follows (in millions):
 
Year Ended
 
September 30, 2012
 
September 25, 2011
 
September 26, 2010
Revenues
$
—

 
$
5

 
$
9

Income (loss) from discontinued operations
1,203

 
(507
)
 
(459
)
Income tax (expense) benefit
(427
)
 
194

 
186

Discontinued operations, net of income taxes
$
776

 
$
(313
)
 
$
(273
)
At September 30, 2012, total assets and liabilities of the discontinued operations in the consolidated balance sheet were $59 million and $75 million, respectively, consisting primarily of capital lease assets and liabilities of $55 million and $60 million, respectively. The Company has a significant number of site leases, and the Company has corresponding capital lease assets, capital lease liabilities (Note 7) and asset retirement obligations.