Discontinued Operations

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

11. Discontinued Operations

The Company’s discontinued operations consist of all our subsidiaries included in our Industrial Segment: (1) subsidiaries divested in 2011 and prior, (2) two previously closed locations, and (3) our PFSG facility is in closure status, which final closure is subject to regulatory approval of necessary plans and permits.

The Company’s discontinued operations had net losses of $115,000 and $206,000 for the three months ended June 30, 2019 and 2018, respectively (net of taxes of $0 for each period) and net losses of $267,000 and $363,000 for the six months ended June 30, 2019 and 2018, respectively, (net of taxes of $0 for each period). The losses were primarily due to costs incurred in the administration and continued monitoring of our discontinued operations. The Company’s discontinued operations had no revenues for each of the periods noted above.

The following table presents the major class of assets of discontinued operations as of June 30, 2019 and December 31, 2018. No assets and liabilities were held for sale at each of the periods noted.

	June 30,		December 31,
(Amounts in Thousands)	2019		2018
Current assets
Other assets	$	98	$	107
Total current assets		98		107
Long-term assets
Property, plant and equipment, net (1)		81		81
Other assets		78		118
Total long-term assets		159		199
Total assets	$	257	$	306
Current liabilities
Accounts payable	$	9	$	10
Accrued expenses and other liabilities		262		296
Environmental liabilities		40		50
Total current liabilities		311		356
Long-term liabilities
Closure liabilities		130		126
Environmental liabilities		837		837
Total long-term liabilities		967		963
Total liabilities	$	1,278	$	1,319

⁽¹⁾ net of accumulated depreciation of $10,000 for each period presented.

The Company’s discontinued operations included a note receivable in the original amount of approximately $375,000 recorded in May 2016 resulting from the sale of property at our Perma-Fix of Michigan, Inc. subsidiary. This note requires 60 equal monthly installment payments by the buyer of approximately $7,250 (which includes interest). At June 30, 2019, the outstanding amount on this note receivable totaled approximately $157,000, of which approximately $79,000 is included in “Current assets related to discontinued operations” and approximately $78,000 is included in “Other assets related to discontinued operations” in the accompanying Consolidated Balance Sheets.