You can find the intersection of two area features
by selecting both features, then right clicking and selecting the Find
Intersection of Selected Area Features menu command. This operation will
create a new area feature from the intersection of the two selected area
features. You will also be prompted to create new area features from what
is left outside of the intersection (below).
If you select 'Yes', this option then the original area features will be marked as deleted once the operation completes successfully.