| Summary of Net Gains or Losses from Discontinued Operations |
The following table is a reconciliation of the major classes of assets and liabilities from discontinued operations included in real estate assets held for sale on the accompanying consolidated balance sheets as of December 31, 2014 and 2013 (in thousands): | | | | | | | | | | December 31,
2014 | | December 31, 2013 | Assets | | | | Land and improvements | $ | 5,351 |
| | $ | 10,003 |
| Buildings and improvements | 5,798 |
| | 14,178 |
| Total real estate investments | 11,149 |
| | 24,181 |
| Less: Accumulated depreciation | (2,167 | ) | | (4,819 | ) | Intangible lease assets, net | 460 |
| | 697 |
| Total assets | $ | 9,442 |
| | $ | 20,059 |
| | | | | Liabilities | | | | Intangible lease liabilities, net | $ | 448 |
| | $ | 448 |
| Total liabilities | $ | 448 |
| | $ | 448 |
|
The results of discontinued operations for the years ended December 31, 2014, 2013 and 2012 have been reclassified to discontinued operations as summarized below (dollars in thousands): | | | | | | | | | | | | | | Years Ended December 31, | | 2014 | | 2013 | | 2012 | Revenues | | | | | | Rent | $ | 1,206 |
| | $ | 8,304 |
| | $ | 12,622 |
| Non-cash rent | (80 | ) | | 21 |
| | 80 |
| Other | 2,972 |
| | 433 |
| | 9 |
| Total Revenues | 4,098 |
| | 8,758 |
| | 12,711 |
| Expenses: | | | | | | General and administrative | 15 |
| | 9 |
| | 214 |
| Property costs | 298 |
| | 1,009 |
| | 472 |
| Interest | — |
| | 241 |
| | 644 |
| Depreciation and amortization | — |
| | 3,545 |
| | 7,116 |
| Impairments | 417 |
| | 7,134 |
| | 4,634 |
| Total expenses | 730 |
| | 11,938 |
| | 13,080 |
| Gain (loss) from discontinued operations before other income | 3,368 |
| | (3,180 | ) | | (369 | ) | Other income: | | | | | | Gain on debt extinguishment | — |
| | 1,028 |
| | — |
| Other | — |
| | 75 |
| | — |
| Total other income | — |
| | 1,103 |
| | — |
| Income (loss) from discontinued operations | 3,368 |
| | (2,077 | ) | | (369 | ) | Gain (loss) on dispositions of real estate | 488 |
| | 36,926 |
| | (3,349 | ) | Total discontinued operations | $ | 3,856 |
| | $ | 34,849 |
| | $ | (3,718 | ) | Number of properties disposed of during period (1) | 6 |
| | 22 |
| | 41 |
|
(1) During the year ended December 31, 2014, 38 properties were sold, but only six of them were held for sale at December 31, 2013 and not subject to early adoption of ASU 2014-08 and are recorded as discontinued operations. |