Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

Discontinued Operations

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

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 $85,000 and $115,000 for the three months ended June 30, 2020 and 2019, respectively (net of taxes of $0 for each period) and net losses of $199,000 and $267,000 for the six months ended June 30, 2020 and 2019, respectively, (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 June 30, 2020 and December 31, 2019. No assets and liabilities were held for sale at each of the periods noted.

	June 30,		December 31,
(Amounts in Thousands)	2020		2019
Current assets
Other assets	$	124	$	104
Total current assets		124		104
Long-term assets
Property, plant and equipment, net ⁽¹⁾		81		81
Other assets		—		36
Total long-term assets		81		117
Total assets	$	205	$	221
Current liabilities
Accounts payable	$	5	$	8
Accrued expenses and other liabilities		167		169
Environmental liabilities		756		817
Total current liabilities		928		994
Long-term liabilities
Closure liabilities		138		134
Environmental liabilities		110		110
Total long-term liabilities		248		244
Total liabilities	$	1,176	$	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. (“PFMI”) subsidiary. This note requires 60 equal monthly installment payments by the buyer of approximately $7,250 (which includes interest). At June 30, 2020, the outstanding amount on this note receivable totaled approximately $105,000, which are all current and is included in “Current assets related to discontinued operations” in the accompanying Consolidated Balance Sheets.