ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

We continually review locations to optimize the sustainable earning power and return on our invested capital. Our strategy, the Strategic Portfolio Optimization Model, also uses strategic ranking criteria to assess potential disposition candidates. The execution of this strategy entails selling generally non-strategic businesses.

During 2013, we sold seven funeral homes and one cemetery. During 2012, we ended a management agreement with a cemetery in Ohio and sold two funeral home businesses in Kentucky. We currently have a letter of intent outstanding on a cemetery in Florida; as such, this business is no longer reported within our continuing operations and the related operating results are presented on a comparative basis in the discontinued operations section of our Consolidated Statements of Operations. The assets and liabilities associated with this location are classified as held for sale in our Consolidated Balance Sheets.

See Note 25 to the Consolidated Financial Statements herein for further information concerning assets held for sale as of December 31, 2013.

Assets and liabilities associated with the cemetery and funeral home businesses held for sale in our Consolidated Balance Sheets at December 31, 2012 and 2013 consisted of the following (in thousands):



	December 31, 2012		December 31, 2013
Assets:
Current assets	$	238	$	30
Preneed cemetery trust investments	—		2,477
Preneed receivables	—		31
Receivables from preneed trusts	—		—
Property, plant and equipment, net	797		311
Goodwill	85		—
Deferred charges and other non-current assets	346		—
Cemetery perpetual care trust investments	—		695
Total	$	1,466	$	3,544

Liabilities:
Current liabilities	$	75	$	10
Deferred preneed cemetery revenue	—		1,185
Deferred preneed funeral revenue	294		—
Deferred preneed cemetery receipts held in trust	—		2,477
Care trusts corpus	—		685
Total	$	369	$	4,357

The operating results of the discontinued businesses during the periods presented, as well as the gain or impairment on disposal, are presented in the discontinued operations section of the Consolidated Statements of Operations, along with the income tax effect as follows (in thousands):



	Year Ended December 31,
	2011		2012			2013
Revenues	$	7,099	$	6,526		$	3,280

Operating income	1,340		1,875			631
Impairment	—		(1,100		)	(100		)
Gain on disposition	—		610			6,091
Provision for income taxes	572		550			2,511
Income from discontinued operations	$	768	$	835		$	4,111