Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Discontinued Operations

Note 9 - Discontinued Operations

6 Months Ended

Jun. 30, 2017

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

9 .	Discontinued Operations

The Company’s discontinued operations consist of all our subsidiaries included in our Industrial Segment: (

) subsidiaries divested in

2011

and prior, (

)

two

previously closed locations, and (

) our PFSG facility, which is currently in the process of undergoing closure, subject to regulatory approval of necessary plans and permits.

The Company’s discontinued operations had losses of

$160,000

and

$264,000

for the

three

months ended

June 30, 2017

and

2016,

respectively (net of taxes of

for each period) and losses of

$291,000

and

$431,000

for the

six

months ended

June 30, 2017

and

2016,

respectively (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 at

June 30, 2017

and

December 31, 2016.

	June 30,		December 31,
(Amounts in Thousands)	2017		2016
Current assets
Other assets	$	92	$	85
Total current assets		92		85
Long-term assets
Property, plant and equipment, net (1)		81		81
Other assets		232		268
Total long-term assets		313		349
Total assets	$	405	$	434
Current liabilities
Accounts payable	$	53	$	13
Accrued expenses and other liabilities		276		268
Environmental liabilities		637		677
Total current liabilities		966		958
Long-term liabilities
Closure liabilities		116		113
Environmental liabilities		248		248
Total long-term liabilities		364		361
Total liabilities	$	1,330	$	1,319

(

)

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

June 30, 2017,

the outstanding amount on this note receivable totaled approximately

$302,000,

of which approximately

$70,000

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

$232,000

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