Discontinued Operations

12 Months Ended

Dec. 31, 2016

Discontinued Operations And Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

2. DISCONTINUED OPERATIONS

On March 3, 2015, we completed the sale of several of our agent-based businesses including our consumer-facing customer sales and lifecycle management, account services and receivables management businesses for approximately $275.0 million in cash. We reflected the results of these operations as discontinued operations for all periods presented.

The following table summarizes the results of discontinued operations for the years ended December 31, 2015 and 2014 in thousands:

(Amounts in thousands)	2015			2014
Revenue	$	102,251		$	585,866
Operating income		2,326			22,685
Gain on disposal		48,226			—
Income before income tax expense		50,553			21,625
Income tax benefit		(371	)		(2,169	)
Income from discontinued operations	$	50,924		$	23,794

In 2015, the divestiture resulted in a $48.2 million gain on an after tax basis which is 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 total after tax gain realized on the sale was $56.8 million, including the $8.6 million tax benefit associated with a higher tax basis than book basis that we were required to recognize in 2014.

We have agreed to indemnify the buyer, up to the full purchase price, with respect to the equity interests of the companies we have sold, title to the equity and assets sold, the authority of the Company to sell the equity and assets and certain other covenants. 

We had no discontinued operations in 2016.