| Schedule of Credit Losses for Financing Receivables, Current |
The following table sets forth the activity
in the allowance for doubtful accounts for the years ended December 31, 2018 and 2017 (in thousands):
| |
|
Year Ended December 31, |
|
| |
|
2018 |
|
|
2017 |
|
| Allowance for doubtful accounts - beginning of year |
|
$ |
720 |
|
|
$ |
272 |
|
| Provision for bad debt reserve |
|
|
66 |
|
|
|
462 |
|
| Write-off |
|
|
(681 |
) |
|
|
(14 |
) |
| Allowance for doubtful accounts - end of year |
|
$ |
105 |
|
|
$ |
720 |
|
|
| Schedule of Cumulative Effect Changes in Consolidated Balance Sheet |
The cumulative effect of the changes made to
our January 1, 2018 unaudited Consolidated Balance Sheet for the adoption of Topic 606 was as follows (in thousands):
| |
|
Balance at
December 31, 2017
|
|
|
Adjustment
Due to
Topic 606
|
|
|
Opening balance at
January 1, 2018
|
|
| |
|
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Disposal/transportation accrual |
|
$ |
2,071 |
|
|
$ |
(456 |
) |
|
$ |
1,615 |
|
| Deferred revenue |
|
|
4,311 |
|
|
|
772 |
|
|
|
5,083 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Stockholders’ Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated deficit |
|
$ |
(77,893 |
) |
|
$ |
(316 |
) |
|
$ |
(78,209 |
) |
|
| Schedule of Impact of Adoption of Topic 606 |
In accordance with Topic 606 requirements,
the disclosure of the impact of adoption of Topic 606 on our Consolidated Balance Sheets, Consolidated Statement of Operations,
and Consolidated Statement of Comprehensive Loss was as follows (in thousands):
| Consolidated Balance Sheet |
|
December 31, 2018 |
|
| |
|
|
|
|
Balances Before |
|
|
|
|
| |
|
|
|
|
Adoption of |
|
|
Effect of Change |
|
| |
|
As Reported |
|
|
Topic 606 |
|
|
Higher/(Lower) |
|
| |
|
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Disposal/transportation accrual |
|
$ |
1,542 |
|
|
$ |
1,882 |
|
|
$ |
(340 |
) |
| Deferred revenue |
|
|
6,595 |
|
|
|
6,007 |
|
|
|
588 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Stockholders’ Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated deficit |
|
$ |
(79,630 |
) |
|
$ |
(79,795 |
) |
|
$ |
165 |
|
| Consolidated Statement of Operations |
|
For the year ended December 31, 2018 |
|
| |
|
|
|
|
Balances Before |
|
|
|
|
| |
|
|
|
|
Adoption of |
|
|
Effect of Change |
|
| |
|
As Reported |
|
|
Topic 606 |
|
|
Higher/(Lower) |
|
| Revenues |
|
$ |
49,539 |
|
|
$ |
49,355 |
|
|
$ |
184 |
|
| Cost of goods sold |
|
|
41,078 |
|
|
|
41,059 |
|
|
|
19 |
|
| Loss from continuing operations, net of taxes |
|
|
(1,074 |
) |
|
|
(1,239 |
) |
|
|
165 |
|
| Net loss attributable to Perma-Fix Services, Inc. common stockholders |
|
|
(1,421 |
) |
|
|
(1,586 |
) |
|
|
165 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss attributable to Perma-Fix Environmental Services, Inc. common stockholders - basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
| Continuing operations |
|
$ |
(.06 |
) |
|
$ |
(.07 |
) |
|
$ |
.01 |
|
| Net loss per common shares |
|
$ |
(.12 |
) |
|
$ |
(.13 |
) |
|
$ |
.01 |
|
| Consolidated Statement of Comprehensive Loss |
|
For the year ended Decmeber 31, 2018 |
|
| |
|
|
|
|
Balances Before |
|
|
|
|
| |
|
|
|
|
Adoption of |
|
|
Effect of Change |
|
| |
|
As Reported |
|
|
Topic 606 |
|
|
Higher/(Lower) |
|
| Net loss |
|
$ |
(1,741 |
) |
|
$ |
(1,906 |
) |
|
$ |
165 |
|
| Comprehensive loss attributable to Perma-Fix Environmental Services, Inc. stockholders |
|
|
(1,523 |
) |
|
|
(1,688 |
) |
|
|
165 |
|
|