Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Discontinued Operations

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Note 8 - Discontinued Operations
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
8
.
Discontinued Operations
 
The Company’s discontinued operations consist of all our subsidiaries included in our Industrial Segment: (1) subsidiaries divested in 2011 and prior, (2) two previously closed locations, and (3) our PFSG facility which suffered a fire and explosion on August 14, 2013 and is currently undergoing closure, subject to regulatory approval.
 
 
The Company’s discontinued operations had losses of $167,000 and $223,000 for the three months ended March 31, 2015 and 2014 (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 that are classified as held for sale as of March 31, 2016 and December 31, 2015. The asset held for sale is the property which Perma-Fix Michigan, Inc. (“PFMI” – a closed location) formerly operated on (see Note 11- “Subsequent Events – PFMI” for further information on the sale of this property).
  
(Amounts in Thousands)
  
March 31,
2016
    
December 31,
2015
  
                 
Property
   $ 450     $ 450  
Total assets held for sale
   $ 450     $ 450  
 
The following table presents the major classes of assets and liabilities of discontinued operations that are not held for sale as of March 31, 2016 and December 31, 2015:
 
 
(Amounts in Thousands)
  
March 31,
2016
    
December 31,
2015
  
Current assets
 
 
 
 
 
 
 
 
Other assets
   $ 29       34  
Total current assets
     29       34  
Long-term assets
 
 
 
 
 
 
 
 
Property, plant and equipment, net
(1)
     81       81  
Total long-term assets
     81       81  
Total assets not held for sale
   $ 110     $ 115  
Current liabilities
 
 
 
 
 
 
 
 
Accounts payable
   $ 70     $ 85  
Accrued expenses and other liabilities
     447       437  
Environmental liabilities
     9       9  
Total current liabilities
     526       531  
Long-term liabilities
 
 
 
 
 
 
 
 
Closure liabilities
     156       173  
Environmental liabilities
     891       891  
Total long-term liabilities
     1,047       1,064  
Total liabilities not held for sale
   $ 1,573     $ 1,595  
 
(1)
net of accumulated depreciation of $10,000 for each period presented.