NOTE 11. — DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

We report as discontinued operations properties which met the criteria to be accounted for as held for sale in accordance with GAAP as of June 30, 2014, and certain properties disposed of during the periods presented that were previously classified as held for sale as of June 30, 2014. All results of these discontinued operations are included in a separate component of income on the consolidated statements of operations under the caption discontinued operations.

During the year ended December 31, 2017, we sold 12 properties and a portion of one property resulting in a recognized gain of $1,025,000 that did not meet the criteria to be classified as discontinued operations and, as a result, the gain on dispositions of real estate for the year ended December 31, 2017, was reflected in our earnings from continuing operations. We also received funds from property condemnations resulting in a gain of $16,000.

During the year ended December 31, 2016, we sold two properties resulting in a loss of $205,000 that were previously classified as held for sale as of June 30, 2014. In addition, during the year ended December 31, 2016, we sold 12 properties resulting in a recognized gain of $2,373,000 that did not meet the criteria to be classified as discontinued operations. We determined that the 12 properties sold did not represent a strategic shift in our operations as defined in ASU 2014-08 and, as a result, the gains on dispositions of real estate for the 12 properties were reflected in our earnings from continuing operations. We also received funds from property condemnations resulting in a gain of $177,000 and recognized the remaining deferred gain of $3,868,000 related to the Ramoco sale.

As a result of a change in circumstances that was previously considered unlikely, we reclassified the remaining two properties from held for sale to held and used as these properties no longer met the criteria to be held for sale during the second quarter of 2017. The properties that were reclassified to held and used were measured and recorded at the lower of (i) their carrying amount before the properties were classified as held for sale, adjusted for any depreciation expense that would have been recognized had the properties been continuously classified as held and used, or (ii) the fair value at the date of the subsequent decision not to sell. As of December 31, 2017, there were no properties that met criteria to be classified as held for sale.

Real estate held for sale consisted of the following at December 31, 2017 and 2016 (in thousands):

	Year ended December 31,
	2017		2016
Land	$	—	$	117
Buildings and improvements		—		528
		—		645
Accumulated depreciation and amortization		—		—
Real estate held for sale, net	$	—	$	645

The revenue from rental properties, impairment charges, other operating expenses and gains/losses from dispositions of real estate related to these properties are as follows (in thousands):

	Year ended December 31,
	2017			2016			2015
Total revenues	$	—		$	—		$	121
Impairments		(1,042	)		(4,248	)		(5,746	)
Other operating income		3,180			3,012			3,218
Earnings (loss) from operating activities		2,138			(1,236	)		(2,407	)
(Loss) gains from dispositions of real estate		—			(178	)		339
Earnings (loss) from discontinued operations	$	2,138		$	(1,414	)	$	(2,068	)