Home >Financials > 2009 Annual Report - The Challenge to Deliver > NOTES TO THE FINANCIALSTATEMENTS > NOTE 3—SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES > Deferred Gains on Sales of Property

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Deferred Gains on Sales of Property

We account for deferred gains on sales of property under the provisions of ASC 360 (formerly FAS 66, Accounting for Sales of Real Estate). These gains will be recognized and the assets will be removed from our accounting records once the leases and other continuing involvement in the properties have expired.

The total amount of deferred gains recognized in income was $11 million in 2009, $44 million in 2008 and was immaterial in 2007.




Link to "Property and Equipment"Link to contents for "BUSINESS Financial Section"      Link to "Impaired Assets"