Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

Discontinued Operations
3 Months Ended
Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

11. Discontinued Operations


The Company’s discontinued operations consist of all our subsidiaries included in our Industrial Segment which encompasses subsidiaries divested in 2011 and prior and three previously closed locations.


The Company’s discontinued operations had net losses of $114,000 and $152,000 for the three months ended March 31, 2020 and 2019 (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 as of March 31, 2020 and December 31, 2019. No assets and liabilities were held for sale at each of the periods noted.


    March 31,     December 31,  
(Amounts in Thousands)   2020     2019  
Current assets                
Other assets   $ 110     $ 104  
Total current assets     110       104  
Long-term assets                
Property, plant and equipment, net (1)     81       81  
Other assets     16       36  
Total long-term assets     97       117  
Total assets   $ 207     $ 221  
Current liabilities                
Accounts payable   $ 6     $ 8  
Accrued expenses and other liabilities     161       169  
Environmental liabilities     785       817  
Total current liabilities     952       994  
Long-term liabilities                
Closure liabilities     135       134  
Environmental liabilities     110       110  
Total long-term liabilities     245       244  
Total liabilities   $ 1,197     $ 1,238  


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


The Company’s discontinued operations included a note receivable in the original 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 60 equal monthly installment payments by the buyer of approximately $7,250 (which includes interest). At March 31, 2020, the outstanding amount on this note receivable totaled approximately $105,000, of which approximately $89,000 is included in “Current assets related to discontinued operations” and approximately $16,000 is included in “Other assets related to discontinued operations” in the accompanying Consolidated Balance Sheets.