In April 2014, the FASB issued guidance that revises the definition of a discontinued operation.The revised definition  limits discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will  have) a major effect on operations and financial results.The guidance also requires new disclosures of both discontinued  operations and certain other disposals that do not meet the definition of a discontinued operation.  The guidance will apply to  covered transactions that occur after 2014 and was optional for the initial reporting of disposals completed or approved in 2014. Fallbrook  — On September 10, 2012, we entered into a strategic alliance with Fallbrook  Technologies Inc. (Fallbrook). Among  the agreements executed is an exclusive license agreement allowing Dana to engineer , produce and sell transmission  components and other advanced powertrain solutions with Fallbrook’ s continuously variable planetary (CVP) technology for  passenger and certain off-highway vehicles in the end markets Dana serves.  The exclusive license agreement, along with an  engineering services agreement and key engineers hired from Fallbrook, provide Dana with intellectual property , processes,  techniques, technical data, training, designs and drawings related to the development, application, use, manufacture and  production of the CVP technology. The transaction with Fallbrook is being accounted for as a business combination. Dana paid Fallbrook $20 under the exclusive license agreement for the markets licensed to Dana;  $12 was paid in 2012  and $8 was paid in 2013. The aggregate fair value of the assets acquired of  $20 has been allocated to intangible assets used in  research and development activities which are initially classified as indefinite-lived with  $12 and $8 assigned to our Off- Highway and Light Vehicle operating segments, respectively. We used the multi-period excess earnings method, an income  approach, to value the intangible assets used in research and development activities. Divestiture of Axle, Differential and Brake Systems business  — We completed the divestiture of our axle, dif ferential and brake  systems business serving the leisure, all-terrain and utility vehicle markets in  August 2012. The total proceeds received of $8  approximated the net assets of the business following an asset impairment char ge of $2 recorded in the first quarter of 2012.  Sales of the divested business approximated  $32 in 2012 through the date of the disposition. Divestiture of Structural Products business  — In March 2010, we sold substantially all of the assets of our Structural Products  business to Metalsa S.A. de C.V. (Metalsa). We had received cash proceeds of $134 through the end of 2011, excluding  amounts related to working capital adjustments and tooling.  An additional $10 remained as a receivable and was supported by  funds held in escrow. Those funds were to be released to Dana by June 2012; however , the buyer presented claims to the  escrow agent seeking indemnification from Dana.  The escrow agent was precluded from releasing the funds held in escrow  until Dana and the buyer resolved the issues underlying the claims.  The parties reached a final agreement on the remaining  issues in May 2014, resulting in the receipt of $9 from the escrow agent and a char ge of $1 to other expense within  discontinued operations. Disposal group held for sale  — In December 2014, we entered into an agreement to divest our Light  Vehicle operations in  Venezuela (the disposal group) for no consideration to an unaf filiated company. We completed the divestiture in January 2015. Upon classification of the disposal group as held for sale, we recognized an  $80 loss to adjust the carrying value of the net  assets of our operations in Venezuela to fair value less cost to sell. The assets and liabilities of our operations in  Venezuela are  presented as held for sale on our balance sheet as of December 31, 2014.The carrying amounts of the major classes of assets  and liabilities of our operations in Venezuela are as follows: 50 Note 2. Acquisitions, Divestitures and Disposal Group Held for Sale