America Online 2010 Annual Report Download - page 94

Table of Contents
AOL INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Summary of Discontinued Operations
Discontinued operations for the years ended December 31, 2010, 2009 and 2008 reflect the financial condition, results of operations and cash flows of
buy.at. The consolidated statement of operations for the year ended December 31, 2010 includes the results of operations of buy.at for the period from
January 1, 2010 through the sale date of February 26, 2010, the pre-tax loss on the sale of buy.at and the income tax benefit associated with the capital loss
generated by the buy.at sale. Financial data for discontinued operations for the years ended December 31, 2010, 2009 and 2008 is as follows (in millions):
Years Ended December 31,
2010 2009 2008
Total revenues $ 2.0 $ 11.6 $ 13.1
Pre-tax loss (before loss on sale of business) (0.5) (4.9) (4.0)
Pre-tax loss on sale of business (18.9) — —
Income tax (provision)/benefit 27.6 2.0 (2.0)
Net income (loss) attributable to AOL Inc. $ 8.2 $ (2.9) $ (6.0)
NOTE 5—LONG-TERM DEBT AND OTHER FINANCING ARRANGEMENTS
Capital Leases
Capital lease obligations consist of ($ in millions):
Weighted Average
Interest Rate at
December 31, 2010 Maturities
Outstanding Amount
December 31, 2010 December 31, 2009
Capital lease obligations 5.81% 2011-2014 $ 86.1 $ 73.9
Amount due within one year (35.2) (32.4)
Total long-term capital lease obligations $ 50.9 $ 41.5
Assets recorded under capital lease obligations totaled $163.7 million and $138.4 million at December 31, 2010 and 2009, respectively. Related
accumulated amortization totaled $84.5 million and $67.0 million at December 31, 2010 and 2009, respectively.
Future minimum capital lease payments at December 31, 2010 are as follows (in millions):
2011 $ 39.2
2012 28.2
2013 18.1
2014 8.0
Total 93.5
Amount representing interest (7.4)
Present value of minimum lease payments 86.1
Current portion (35.2)
Total long-term portion $ 50.9
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