Note 17. Discontinued Operations
Summary financial information for discontinued operations is as follows (in millions):
| Year Ended December 31, | ||||||||||||
| 2013 | 2012 | 2011 | ||||||||||
|
Income Statement Data |
||||||||||||
|
Loss from operations, net of tax |
$ | (1 | ) | $ | — | $ | — | |||||
|
Gain (loss) on dispositions, net of tax |
$ | 71 | $ | 92 | $ | (13 | ) | |||||
During the year ended December 31, 2013, we recorded a $71 million gain on dispositions, net of tax, primarily as a result of the reversal of a reserve associated with an uncertain tax position, which was related to a previous disposition. The applicable statute of limitation for this tax position lapsed during 2013 (see Note 13). Additionally, a gain of $1 million (net of tax) resulted from the favorable insurance recovery of certain liabilities associated with a previously disposed of subsidiary of ITT Corporation, which we acquired in 1998.
During the year ended December 31, 2012, the gain of $92 million (net of tax) was primarily related to the gain of $78 million (net of tax) on the sale of one wholly owned hotel, which was sold unencumbered by a management or franchise agreement. Additionally, a gain of $23 million (net of tax) resulted from the favorable settlement of certain liabilities associated with a previously disposed of subsidiary of ITT Corporation. These gains were partially offset by a loss of $5 million (net of tax) related to the loss on the sale of four wholly-owned hotels.
During the year ended December 31, 2011, we recorded a loss of $13 million, including an $18 million pretax loss from the sale of our interest in a consolidated joint venture, offset by a $10 million income tax benefit on the sale.
Additionally, for each of the years ended December 31, 2012 and 2011, we recorded losses of $5 million (net of tax) for accrued interest related to the uncertain tax position that lapsed during 2013.