Discontinued Operations

6 Months Ended

Jun. 30, 2016

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

2. DISCONTINUED OPERATIONS

On March 3, 2015, we divested several of our agent-based businesses for $275.0 million in cash. The divestiture resulted in a 2015 gain of $48.2 million on an after-tax basis which was included within income from discontinued operations. The $48.2 million gain included a $21.6 million tax benefit in 2015 due to the deferred tax benefit associated with excess outside basis over financial reporting basis.

The following table summarizes the results of discontinued operations for the three and six months ended June 30, 2015:

(Amounts in thousands)	Three months ended June 30, 2015		Six months ended June 30, 2015
Revenue	$	—	$	102,251
Operating income		551		3,851
Gain on disposal		—		48,556
Income before income tax expense		551		52,234
Income tax expense		193		20,010
Income from discontinued operations	$	358	$	32,224

There was no income or loss from discontinued operations during the first half of 2016.

We have agreed to indemnify the buyer, up to the full purchase price, with respect to the equity interests of the companies we sold, title to the equity and assets sold and the authority of the Company to sell the equity and assets. The Company has also agreed to indemnify the buyer for breaches of other representations and warranties in the purchase agreement for up to $13.75 million in losses.