Quarterly report [Sections 13 or 15(d)]

Discontinued Operations

Discontinued Operations

9 Months Ended

Sep. 30, 2025

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 earlier, as well as three previously closed locations.

The Company’s discontinued operations had net losses of $73,000 (net of tax expense of $0) and $173,000 (net of tax expense of $79,000) for the three months ended September 30, 2025, and 2024, respectively, and net losses of $280,000 (net of $0 tax expense) and $441,000 (net of $0 tax expense) for the nine months ended September 30, 2025, and 2024, respectively. The losses (excluding tax expenses) were primarily due to costs incurred in the administration and continued monitoring/evaluation of our discontinued operations. The Company’s discontinued operations had no revenue for any of the periods noted above.

The following table presents the major class of assets of discontinued operations as of September 30, 2025, and December 31, 2024. No assets and liabilities were held for sale at each of the periods noted.

	September 30,		December 31,
(Amounts in Thousands)	2025		2024
Current assets
Other assets	$	37	$	20
Total current assets		37		20
Long-term assets
Property, plant and equipment, net ⁽¹⁾		146		130
Total long-term assets		146		130
Total assets	$	183	$	150
Current liabilities
Accounts payable	$	34	$	90
Accrued expenses and other liabilities		163		153
Environmental liabilities		630		1
Total current liabilities		827		244
Long-term liabilities
Closure liabilities		186		179
Environmental liabilities		134		766
Total long-term liabilities		320		945
Total liabilities	$	1,147	$	1,189

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