Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

Discontinued Operations

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

10. Discontinued Operations

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

The Company’s discontinued operations had net losses of $43,000 and $67,000 for the three months ended September 30, 2021 and 2020, respectively (net of tax benefit of $98,000 and tax expense of $0 for the three month ended September 30, 2021 and 2020, respectively) and net losses of $285,000 and $266,000 for the nine months ended September 30, 2021 and 2020, respectively, (net of tax benefit of $98,000 and tax expense of $0 for the nine month ended September 30, 2021 and 2020, respectively). The losses (excluding the tax benefits) 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 any of the periods noted above.

The following table presents the major class of assets of discontinued operations at September 30, 2021 and December 31, 2020. No assets and liabilities were held for sale at each of the periods noted.

	September 30,		December 31,
(Amounts in Thousands)	2021		2020
Current assets
Other assets	$	18	$	22
Total current assets		18		22
Long-term assets
Property, plant and equipment, net ⁽¹⁾		81		81
Other assets		—		—
Total long-term assets		81		81
Total assets	$	99	$	103
Current liabilities
Accounts payable	$	3	$	4
Accrued expenses and other liabilities		207		150
Environmental liabilities		122		744
Total current liabilities		332		898
Long-term liabilities
Closure liabilities		148		142
Environmental liabilities		654		110
Total long-term liabilities		802		252
Total liabilities	$	1,134	$	1,150

⁽¹⁾

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