DIVESTED AND DISCONTINUED OPERATIONS

Effective January 1, 2015, we adopted the FASB's new guidance for reporting discontinued operations which amended the definition of “discontinued operations” to include only disposals or held-for-sale classifications for components or groups of components of an entity that represent a strategic shift that either has or will have a major effect on an entity's operations or financial results. Examples of a strategic shift that has or will have a major effect on an entity's operations and financial results include a disposal of a major geographical area, line of business, equity method of investment or other parts of an entity. The new guidance also requires the disclosure of pre-tax income of disposals that do not qualify as discontinued operations.

We did not divest any of our funeral home or cemetery businesses in 2015. During 2016, we sold a funeral home business in Tennessee for $1.35 million. We continually review locations to optimize the sustainable earning power and return on our invested capital. These reviews could entail selling certain non-strategic businesses.

The operating results of this divested business, as well as the loss on the sale are included within net income from continuing operations on our Consolidated Statements of Operations and is reflected in the table below (in thousands):



	Year Ended December 31,
	2014		2015		2016
Revenues	$	—	$	—	$	744

Operating income	—		—		314
Net loss on disposal	—		—		(29		)
Income tax provision	—		—		(112		)
Net income from divested operations	$	—	$	—	$	173

During 2014, we sold a cemetery in Florida and two funeral homes, one in Ohio and one in Kentucky. The operating results of these discontinued businesses, as well as any impairments and net gains on the disposals, presented within discontinued operations on our Consolidated Statements of Operations, along with the income tax effect, were as follows (in thousands):



	Year Ended December 31,
	2014			2015		2016
Revenues	$	817		$	—	$	—

Operating income	235			—		—
Impairment	(1,180		)	—		—
Net gain on disposal	1,594			—		—
Income tax provision	(257		)	—		—
Income from discontinued operations, net of tax	$	392		$	—	$	—