As an example, in the third quarter 2001, Qwest agreed to purchase $67.2 million of capacity in Pan America from Global Crossing in a swap transaction because Global Crossing could deliver the capacity by the close of the third quarter, a necessary element for booking revenue on Qwest’s simultaneous sale to Global Crossing. In fact, many of the assets Qwest purchased in swap transactions seemingly did not have a legitimate business purpose besides their role in the completion of a swap transaction.