Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

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Discontinued Operations
3 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
10. Discontinued Operations

 

The Company’s discontinued operations consist of all our subsidiaries included in our previous Industrial Segment which encompasses subsidiaries divested in 2011 and prior and three previously closed locations.

 

The Company’s discontinued operations had net losses of $115,000 and $114,000 for the three months ended March 31, 2021 and 2020 (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 March 31, 2021 and December 31, 2020. No assets and liabilities were held for sale at each of the periods noted.

 

    March 31,     December 31,  
(Amounts in Thousands)   2021     2020  
Current assets                
Other assets   $ 20     $ 22  
Total current assets     20       22  
Long-term assets                
Property, plant and equipment, net (1)     81       81  
Other assets            
Total long-term assets     81       81  
Total assets   $ 101     $ 103  
Current liabilities                
Accounts payable   $ 4     $ 4  
Accrued expenses and other liabilities     154       150  
Environmental liabilities     659       744  
Total current liabilities     817       898  
Long-term liabilities                
Closure liabilities     144       142  
Environmental liabilities     152       110  
Total long-term liabilities     296       252  
Total liabilities   $ 1,113     $ 1,150  

 

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