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Discontinued Operations |
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Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. Discontinued Operations Divisions within a business that have either stopped operations due to lack of profitability or have been sold. A business may discontinue operations of a division if it loses money for the business or if it wishes to expand in other directions, among other reasons. The Financial Accounting Standards Board requires publicly-traded companies to report earnings per share of all divisions in its business, including discontinued operations. See also: Cost accounting. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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As a result, the Company has reclassified VISI's operations as discontinued operations and, accordingly, has segregated the assets, liabilities, revenue and expenses of the discontinued operations in its Consolidated Balance Sheets, Statements of Operations and notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2005, being filed today. The Company reclassified operating results related to its UK-based leasing business to discontinued operations as a result of management's decision to sell the business to a third party. In the first quarter of 2005, the Company recorded a gain on disposal of discontinued operations of $8. |
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