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Discontinued Operations | 6 Months Ended
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Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations Consensus Spin-Off As further described in Note 1 - Basis of Presentation and Overview, on October 7, 2021, the Separation of the cloud fax business was completed. The accounting requirements for reporting the Company’s cloud fax business as a discontinued operation were met when the Separation was completed as the Separation constituted a strategic shift that would have a major effect on the Company’s operations and financial results. Accordingly, the Condensed Consolidated Financial Statements reflect the results of the cloud fax business as a discontinued operation for the three and six months ended June 30, 2021. The Condensed Consolidated Statements of Operations report discontinued operations separate from continuing operations. The Condensed Consolidated Statements of Comprehensive (Loss) Income, Condensed Consolidated Statements of Cash Flows, and Condensed Consolidated Statements of Stockholders’ Equity combine continuing and discontinued operations. The key components of cash flows from discontinued operations were as follows (in thousands):
|  |  | Six Months Ended June 30, 2021
Capital expenditures |  |  | $ | 8,010 |
Depreciation and amortization |  |  | $ | 5,601 |
Deferred taxes |  |  | $ | (6,508) |
In connection with the Separation, Ziff Davis and Consensus entered into several agreements that govern the relationship of the parties following the Separation, which are further discussed in Note 16 - Related Party Transactions. Further, certain of the Company’s management and members of its board of directors resigned from the Company as of the date of distribution and joined Consensus. In addition, one of the Company’s members of senior management as of June 30, 2022 has served on the board of directors of Consensus since the date of distribution. The key components of income from discontinued operations were as follows (in thousands):
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021
Revenues | $ | 87,751 |  |  | $ | 174,279 |
Cost of revenues | (14,554) |  |  | (28,524) |
Sales and marketing | (13,681) |  |  | (26,916) |
Research, development and engineering | (1,940) |  |  | (3,616) |
General and administrative | (5,977) |  |  | (12,025) |
Interest expense and other | (351) |  |  | (199) |
Income before income taxes | 51,248 |  |  | 102,999 |
Income tax expense | 12,486 |  |  | 25,094 |
Income from discontinued operations, net of income taxes | $ | 38,762 |  |  | 77,905 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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