Quarterly report pursuant to sections 13 or 15(d)

Discontinued Operations and Divestitures (Tables)

Discontinued Operations and Divestitures (Tables)

9 Months Ended

Sep. 30, 2012

Discontinued Operations and Divestitures [Abstract]

The following table summarizes the results of discontinued operations for the three and nine months ended September 30, 2012 and 2011. The operating results of discontinued operations are included in our Consolidated Statements of Operations as part of our "Loss from discontinued operations, net of taxes."

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Amounts in Thousands)	2012			2011			2012			2011

Net revenues	$	533		$	1,266		$	1,749			6,433
Interest expense	$	(8	)	$	(18	)	$	(26	)	$	(55	)
Operating loss from discontinued operations (1)	$	(61	)		(187	)	$	(258	)		(7	)
Gain on disposal of discontinued operations (2)	$	-			1,777		$	-			1,777
(Loss) income from discontinued operations	$	(61	)	$	1,590		$	(258	)	$	1,770

(1) Net of tax benefit of $37,000 and tax benefit of $133,000 for the three and nine months ended September 30, 2012, respectively, and net of tax benefit of $101,000 and tax benefit of $4,000 for the corresponding periods of 2011.

(2) Net of taxes of $812,000 for each of the three and nine months ended September 30, 2011, respectively.

Disclosure of asset and liabilities of discontinued operations Held-for-sale

The following table presents the major classes of asset and liabilities of discontinued operations that are classified as held for sale as of September 30, 2012 and December 31, 2011. The held for sale assets and liabilities may differ at the closing of a sale transaction from the reported balances as of September 30, 2012:

	September 30,		December 31,
(Amounts in Thousands)	2012		2011

Accounts receivable, net (1)	$	432	$	385
Inventories		30		25
Other assets		13		22
Property, plant and equipment, net (2)		1,614		1,650
Total assets held for sale	$	2,089	$	2,082
Accounts payable	$	249	$	190
Accrued expenses and other liabilities		535		577
Note payable		80		105
Environmental liabilities		1,496		1,497
Total liabilities held for sale	$	2,360	$	2,369

(1) net of allowance for doubtful accounts of $47,000 and $48,000 as of September 30, 2012 and December 31, 2011, respectively.

(2) net of accumulated depreciation of $60,000 and $62,000 as of September 30, 2012 and December 31, 2011, respectively.

Major classes of assets and liabilities of discontinued operations

The following table presents the major classes of assets and liabilities of discontinued operations that are not held for sale as of September 30, 2012 and December 31, 2011:

	September 30,		December 31,
(Amounts in Thousands)	2012		2011

Other assets	$	51	$	261
Total assets of discontinued operations	$	51	$	261
Accrued expenses and other liabilities	$	1,012	$	1,083
Accounts payable		15		15
Environmental liabilities		284		505
Total liabilities of discontinued operations	$	1,311	$	1,603

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details