3) DISCONTINUED OPERATIONS
On September 30, 2013 the Company completed the sale of Outdoor Europe for $225 million. Outdoor Europe has been presented as a discontinued operation in the Company's consolidated financial statements for all periods presented. Included in the loss from discontinued operations of $147 million for 2013 is an after-tax charge of $110 million associated with exiting an unprofitable contractual arrangement and the estimated fair value of guarantees, which historically have been intercompany but upon the closing of the transaction became third-party guarantees (See Note 14).
The following table sets forth details of the net earnings (loss) from discontinued operations for the years ended December 31, 2013, 2012 and 2011.
| Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||
| Revenues from discontinued operations | $ | 401 | $ | 588 | $ | 608 | |||||
| Loss from discontinued operations | $ | (247) | $ | (78) | $ | (73) | |||||
| Income tax benefit (provision) | 100 | 18 | (13) | ||||||||
| Loss from discontinued operations, net of tax | (147) | (60) | (86) | ||||||||
| Gain on disposal | 159 | — | — | ||||||||
| Income tax provision | (6) | — | — | ||||||||
| Gain on disposal, net of tax | 153 | — | — | ||||||||
| Net earnings (loss) from discontinued operations, net of tax | $ | 6 | $ | (60) | $ | (86) | |||||
Noncurrent assets of discontinued operations of $82 million for 2013 and $260 million for 2012 include deferred tax assets for previously disposed businesses. At December 31, 2012, noncurrent assets of discontinued operations also included net property and equipment of $103 million, goodwill of $49 million, as well as assets related to aircraft leases from previously disposed businesses that were liquidated in 2013. (See Note 1 for the accounting policy related to these discontinued operations). Noncurrent liabilities of discontinued operations of $148 million at December 31, 2013, primarily include tax reserves related to previously disposed businesses and the estimated fair value of guarantee liabilities of approximately $40 million (See Note 14). At December 31, 2012, noncurrent liabilities of discontinued operations of $172 million primarily relate to the above mentioned aircraft leases and tax reserves related to previously disposed businesses.