Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Discontinued Operations

Note 10 - Discontinued Operations

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

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 is currently undergoing closure, subject to final regulatory approval.

The Company’s discontinued operations had losses of

$131,000

and

$167,000

for the

three

months ended

March

31,

2017

and

2016

(net of taxes of

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

revenues for each of the periods noted above.

The following table presents the major class of assets of discontinued operations as of

March

31,

2017

and

December

31,

2016.

	March 31,		December 31,
(Amounts in Thousands)	2017		2016
Current assets
Other assets	$	88	$	85
Total current assets		88		85
Long-term assets
Property, plant and equipment, net (1)		81		81
Other assets		251		268
Total long-term assets		332		349
Total assets	$	420	$	434
Current liabilities
Accounts payable	$	4	$	13
Accrued expenses and other liabilities		270		268
Environmental liabilities		676		677
Total current liabilities		950		958
Long-term liabilities
Closure liabilities		115		113
Environmental liabilities		248		248
Total long-term liabilities		363		361
Total liabilities	$	1,313	$	1,319

(1)

net of accumulated depreciation of

10,000

for each period presented.

The Company’s discontinued operations include a note receivable in the amount of approximately

$375,000

recorded in

May

2016

resulting from the sale of property at our Perma-Fix of Michigan, Inc. subsidiary. This note requires

equal monthly installment payments by the buyer of approximately

$7,250

(which includes interest). At

March

31,

2017,

the outstanding amount on this note receivable totaled approximately

$320,000,

of which approximately

$69,000

is included in “Current assets related to discontinued operations” and approximately

$251,000

is included in “Other assets related to discontinued operations” in the accompanying Consolidated Balance Sheets.