Annual report [Section 13 and 15(d), not S-K Item 405]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

NOTE 8

DISCONTINUED OPERATIONS

The Company’s discontinued operations consist of all our subsidiaries included in its former Industrial Segment which encompasses subsidiaries divested in 2011 and earlier, as well as three previously closed locations.

The Company incurred net losses from discontinued operations of $3,119,000 (net of tax expense of $0) and $410,000 (net of tax benefit of $149,000) for the years ended December 31, 2025 and 2024, respectively. The net loss for 2025 included an increase to the environmental remediation reserve of approximately $2,721,000 at our Perma-Fix South Georgia, Inc. (“PFSG”) subsidiary discussed below. The remaining net loss for 2025 and net loss for 2024 were primarily due to costs incurred in connection with management of administrative and regulatory matters related to our remediation projects.

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

	December 31,		December 31,
(Amounts in Thousands)	2025		2024
Current assets
Other assets	$	60	$	20
Total current assets		60		20
Long-term assets
Property, plant and equipment, net ⁽¹⁾		146		130
Total long-term assets		146		130
Total assets	$	206	$	150
Current liabilities
Accounts payable	$	67	$	90
Accrued expenses and other liabilities		127		153
Environmental liabilities		76		1
Total current liabilities		270		244
Long-term liabilities
Closure liabilities		189		179
Environmental liabilities		3,409		766
Total long-term liabilities		3,598		945
Total liabilities	$	3,868	$	1,189

⁽¹⁾

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

Environmental Remediation Liabilities

The Company has three remediation projects, which are currently in progress relating to our Perma-Fix of Dayton, Inc. (“PFD”), Perma-Fix of Memphis (“PFM”) and PFSG subsidiaries, all within our discontinued operations. The Company divested PFD in 2008; however, the environmental liability of PFD was retained by the Company upon the divestiture of PFD. These remediation projects principally entail the removal/remediation of contaminated soil and, in most cases, the remediation of surrounding ground water. The remediation activities are closely reviewed and monitored by the applicable state regulators.

As of December 31, 2025, the Company had total environmental remediation liabilities of $3,485,000, an increase of $2,718,000 from the December 31, 2024, balance of $767,000. The net increase of approximately $2,718,000 reflects an increase of approximately $2,721,000 made to the reserve at our PFSG subsidiary following a reassessment of remediation cost estimates after clarification of the remediation plan from the state regulator, offset by payments of approximately $3,000 for our PFSG remediation project. As of December 31, 2025, approximately $76,000 of the total environmental remediation liabilities were recorded as current.

The current and long-term environmental liabilities as of December 31, 2025 and 2024, are summarized as follows (in thousands).

	December 31, 2025						December 31, 2024
	Current		Long-term				Current		Long-term
Location	Accrual		Accrual		Total		Accrual		Accrual		Total
PFD		—	$	60	$	60		—	$	60	$	60
PFM		—		15		15		—		15		15
PFSG		76		3,334		3,410		1		691		692
Total liability	$	76	$	3,409	$	3,485	$	1	$	766	$	767