Summary of carrying value of net assets |
As of the August 27, 2015 closing date of the sale of the PBM Business, the carrying value of the net assets of the PBM Business was as follows (in thousands): | | | | | | | | Carrying Value | Net accounts receivable | | $ | 7,163 |
| Total current assets | | 7,163 |
| Property and equipment, net | | 175 |
| Goodwill | | 12,744 |
| Total assets | | 20,082 |
| Amounts due to plan sponsors | | 6,950 |
| Total liabilities | | 6,950 |
| Net assets | | $ | 13,132 |
|
As of the March 31, 2014 closing date of the sale of the Home Health Business, the carrying value of the net assets of the Subject Companies was as follows (in thousands): | | | | | | | | Carrying Value | Net accounts receivable | | $ | 12,597 |
| Prepaid expenses and other current assets | | 242 |
| Total current assets | | 12,839 |
| Property and equipment, net | | 402 |
| Goodwill | | 33,784 |
| Intangible assets | | 15,400 |
| Other non-current assets | | 28 |
| Total assets | | 62,453 |
| Accounts payable | | 673 |
| Amounts due to plan sponsors | | 229 |
| Accrued expenses and other current liabilities | | 3,008 |
| Total liabilities | | 3,910 |
| Net assets | | $ | 58,543 |
|
|
Summary of operating results |
The operating results included in discontinued operations of the PBM Business for the years ended December 31, 2016, 2015 and 2014 are summarized as follows (in thousands): | | | | | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | | 2014 | Revenue | $ | — |
| | $ | 44,375 |
| | $ | 61,401 |
| Gross profit | $ | — |
| | $ | 9,763 |
| | $ | 17,635 |
| Other operating expenses | 1,015 |
| | 5,444 |
| | 10,878 |
| Bad debt expense | — |
| | (45 | ) | | 27 |
| (Loss) income from operations | (1,015 | ) | | 4,364 |
| | 6,730 |
| Gain on sale before income taxes | — |
| | (11,424 | ) | | — |
| Financial advisory fee and legal expenses | 614 |
| | 1,731 |
| | — |
| Other income and expenses, net | (326 | ) | | 1,898 |
| | (6 | ) | (Loss) income before income taxes | (1,303 | ) | | 12,159 |
| | 6,736 |
| Income tax expense | — |
| | 206 |
| | 198 |
| (Loss) income from discontinued operations, net of income taxes | $ | (1,303 | ) | | $ | 11,953 |
| | $ | 6,538 |
|
The operating results included in discontinued operations of the Home Health Business for the years ended December 31, 2016, 2015 and 2014 are summarized as follows (in thousands):
| | | | | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | | 2014 | Revenue | $ | — |
| | $ | — |
| | $ | 18,551 |
| Gross profit | $ | — |
| | $ | — |
| | $ | 6,918 |
| Other operating expenses | — |
| | 417 |
| | 8,219 |
| Bad debt expense | — |
| | — |
| | 902 |
| Loss from operations | — |
| | (417 | ) | | (2,203 | ) | Gain on sale before income taxes | — |
| | — |
| | (2,067 | ) | Financial advisor fee and legal expenses | (44 | ) | | — |
| | 2,875 |
| Impairment of assets | — |
| | — |
| | 452 |
| Other costs and expenses | (118 | ) | | 861 |
| | 47 |
| Income (loss) before income taxes | 162 |
| | (1,278 | ) | | (3,510 | ) | Income tax expense (benefit) | — |
| | — |
| | (4,257 | ) | Income (loss) from discontinued operations, net of income taxes | $ | 162 |
| | $ | (1,278 | ) | | $ | 747 |
|
The operating results included in discontinued operations of the divested traditional and specialty pharmacy mail operations and community pharmacies for the years ended December 31, 2016, 2015 and 2014 are summarized as follows (in thousands):
| | | | | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | | 2014 | Revenue | $ | — |
| | $ | — |
| | $ | — |
| Gross profit | $ | — |
| | $ | — |
| | $ | (439 | ) | Other operating expenses | 185 |
| | 4,485 |
| | 3,995 |
| Legal fees and settlement expense | 2 |
| | 1,312 |
| | — |
| Other (income) expense, including gain on sale | 17 |
| | 1,157 |
| | 399 |
| Loss from discontinued operations, net of income taxes | $ | (204 | ) | | $ | (6,954 | ) | | $ | (4,833 | ) |
|