Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

Discontinued Operations

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

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 $102,000 (net of tax benefit of $29,000) and $93,000 (net of tax benefit of $30,000) for the three months ended March 31, 2024, and 2023. 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, 2024, and December 31, 2023. No assets and liabilities were held for sale at each of the periods noted.

	March 31,		December 31,
(Amounts in Thousands)	2024		2023
Current assets
Other assets	$	13	$	13
Total current assets		13		13
Long-term assets
Property, plant and equipment, net ⁽¹⁾		81		81
Total long-term assets		81		81
Total assets	$	94	$	94
Current liabilities
Accounts payable	$	94	$	80
Accrued expenses and other liabilities		128		128
Environmental liabilities		16		61
Total current liabilities		238		269
Long-term liabilities
Closure liabilities		171		169
Environmental liabilities		784		784
Total long-term liabilities		955		953
Total liabilities	$	1,193	$	1,222

⁽¹⁾

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