DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2013

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

14. DISCONTINUED OPERATIONS

In connection with its on-going evaluation of each of its business units, the management of the Company recommended to the Board of Directors of the Company that based upon the substantial operational losses and declining revenues being incurred by the Company’s international operations, such operations should be discontinued. Accordingly, on August 16, 2012, the Company’s Board of Directors determined to discontinue the operations of its UK Subsidiary, 4Kids International, effective September 30, 2012.  Pursuant to the Asset Purchase Agreement and the corresponding assets sold and due to their continued lack of profitability, effective June 30, 2012, the Company terminated the operations of 4Kids Ad Sales, 4Kids Productions, 4Kids Music and 4Kids Home Video. Additionally, effective September 30, 2010, the Company terminated the operations of TC Digital and TC Websites. The results of operations for the international, advertising media and broadcast segment, television and film production/distribution segment and the trading card and game distribution segment are reported as a discontinued operation and the accompanying consolidated financial statements have been reclassified for all prior periods to report the assets, liabilities and operating results of this business.

The following are the summarized results of discontinued operations for the years ended December 31, 2013, 2012, and 2011:

	Years Ended December 31,
	2013		2012			2011
Total net revenues	$	—	$	2,101		$	4,284
Total income (costs and expenses)		1,170		(12,210	)		(19,511	)
Income (loss) from discontinued operations	$	1,170	$	(10,109	)	$	(15,227	)

The major classes of assets and liabilities of the discontinued operations on the balance sheet are as follows:

	December 31, 2013		December 31, 2012
ASSETS
Accounts receivable – net	$	1	$	230
Prepaid and other current assets		—		37
Current assets of discontinued operations	$	1	$	267
Property and equipment - net	$	—	$	1
Non-current assets of discontinued operations	$	—	$	1
LIABILITIES
Accounts payable and accrued expenses	$	618	$	1,859
Current liabilities of discontinued operations	$	618	$	1,859