McGraw-Hill reported first quarter 2013 earnings, following the sale of their education business for $2.4 billion on March 22. The education results are covered only briefly, as a discontinued operation. They booked a net gain of $612 million on the sale of the business, and reported net income for the quarter of $582 million (reflecting an operating loss of $30 million during the period for education). McGraw-Hill also recorded separately costs of $44 million–half cash, and half non-cash charges–for professional fees and other one-time costs related to the separate of the education unit. Release