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Discontinued Operations and Disposal Groups (Tables) | 12 Months Ended
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Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | The key components of cash flows from discontinued operations were as follows (in thousands):
| Years ended December 31,
| 2021 |  | 2020 |  | 2019
Capital expenditures | $ | 15,252 |  |  | $ | 16,237 |  |  | $ | 6,996 |
Depreciation and amortization | $ | 9,010 |  |  | $ | 11,759 |  |  | $ | 10,270 |
Loss on debt extinguishment | $ | 8,750 |  |  | $ | 37,969 |  |  | $ | — |
Amortization of financing costs and discounts | $ | — |  |  | $ | 1,171 |  |  | $ | 1,428 |
Foreign currency remeasurement gain | $ | — |  |  | $ | 31,537 |  |  | $ | — |
Deferred taxes | $ | 8,015 |  |  | $ | 5,534 |  |  | $ | (55,931) |
The key components of income from discontinued operations were as follows (in thousands). The Company made an accounting policy election not to allocate interest to discontinued operations. Interest expense included in discontinued operations relates to the 6.0% Senior Notes issued by J2 Cloud Services, LLC and the Bridge Loan Facility, which was required to be repaid as part of the Separation.
| Years ended December 31,
| 2021 |  | 2020 |  | 2019
Revenues | $ | 270,248 |  |  | $ | 330,764 |  |  | $ | 321,590 |
Cost of revenues | (44,306) |  |  | (53,379) |  |  | (49,991) |
Sales and marketing | (40,980) |  |  | (47,116) |  |  | (51,522) |
Research, development and engineering | (5,814) |  |  | (7,146) |  |  | (9,745) |
General and administrative | (39,279) |  |  | (26,852) |  |  | (21,475) |
Interest expense and other | (13,856) |  |  | (44,220) |  |  | (44,080) |
Income before income taxes | 126,013 |  |  | 152,051 |  |  | 144,777 |
Income tax expense (benefit) | 30,694 |  |  | 30,043 |  |  | (33,136) |
Income from discontinued operations, net of income taxes | $ | 95,319 |  |  | $ | 122,008 |  |  | $ | 177,913 |
The following table summarizes the Balance Sheet as of December 31, 2020 (in thousands):
|  |  | December 31, 2020
ASSETS |  |  |
Cash and cash equivalents |  |  | $ | 66,210 |
Accounts receivable, net |  |  | 16,071 |
Prepaid expenses and other current assets |  |  | 1,748 |
Total current assets, discontinued operations |  |  | 84,029 |
Property and equipment, net |  |  | 25,053 |
Operating lease right-of-use assets |  |  | 25,711 |
Trade names, net |  |  | 29,350 |
Customer relationships, net |  |  | 13,678 |
Goodwill |  |  | 342,430 |
Other purchased intangibles, net |  |  | 1,681 |
Deferred income taxes, noncurrent |  |  | 44,350 |
Other non-current assets |  |  | 1,269 |
Total assets, discontinued operations |  |  | $ | 567,551 |
LIABILITIES |  |  |
Trade accounts payable and accrued expenses |  |  | $ | 32,795 |
Income taxes payable, current |  |  | 1,307 |
Deferred revenue, current |  |  | 24,512 |
Operating lease liabilities, current |  |  | 2,578 |
Total current liabilities, discontinued operations |  |  | 61,192 |
Deferred revenue, noncurrent |  |  | 240 |
Operating lease liabilities, noncurrent |  |  | 25,549 |
Liability for uncertain tax positions |  |  | 3,993 |
Deferred income taxes, noncurrent |  |  | 5,392 |
Other long-term liabilities |  |  | 3,063 |
Total liabilities, discontinued operations |  |  | $ | 99,429 |

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