On November 1, 2016, Jamison Inc. adopted a plan to discontinue its barge division, which qualifies as a separate component of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by April 30, 2017. On December 31, 2016, the company's year-end, the following information relative to the discontinued division was accumulated: Operating loss Jan. 1 Dec. 31, 2016 $69 million Estimated operating losses, Jan. 1 to April 30, 2017 92 million Excess of fair value, less costs to sell, over book value at Dec. 31, 2016 18 million In its income statement for the year ended December 31, 2016, Jamison would report a before-tax loss on discontinued operations of: