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.

⁽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.