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Discontinued Operations
 12 Months Ended
Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Other income (expense), net consists of the following:
(In thousands)202120202019
Gain (loss) on investment in kaléo(a)
$12,780 $(60,900)$28,482 
One-time tax credit in Brazil for unemployment/social security insurance non-income taxes resulting from a favorable decision by Brazil’s Supreme Court regarding the calculation of such tax8,486 — — 
Transition service fees, net of corporate costs associated with the divested Personal Care business297 (851)— 
COVID-19-related expenses(b)
(624)(2,231)— 
Loss on sale of Bright View Technologies— (2,299)— 
Write-down of investment in Harbinger Capital Partners Special Situations Fund(c)
(517)— — 
Gain associated with the sale of Lake Zurich manufacturing facility assets378 — — 
Other(424)(1,013)(111)
Total$20,376 $(67,294)$28,371 
(a) The gain in 2021 includes a $0.3 million dividend received from kaléo in the first quarter of 2021. The gain in 2019 includes a $17.6 million dividend received from kaléo.
(b) Costs associated with operating under COVID-19 conditions include employee overtime expenses associated with absenteeism, personal protective equipment supplies and facility maintenance.
(c) Represents the unrealized loss on the Company’s investment in Harbinger Capital Partners Special Situations Funds L.P. that had a fair value of $0.2 million, $0.7 million and $1.1 million as of December 31, 2021, 2020 and 2019, respectively, reported in “Other assets” in the consolidated balance sheet.
Mergers, Acquisitions and Dispositions Disclosures
Divestitures
Personal Care Films
In 2020, the Company completed the sale of Personal Care Films for an aggregate purchase price of $60.5 million, subject to customary adjustments. The Company agreed to provide certain transition services related to finance, human resources and information technology (“IT”) that ended during the second quarter of 2021, resulting in final cash proceeds of $64.1 million. Personal Care Films was previously reported in the PE Films segment.
The following table summarizes the financial results of discontinued operations reflected in the Consolidated Statements of Income for the year ended December 31, 2021, 2020 and 2019:
Years Ended December 31
(In thousands)202120202019
Revenues and other items:
Sales$— $110,246 $146,034 
Other income (expense), net— (333)6,424 
— 109,913 152,458 
Costs and expenses:
Cost of goods sold— 92,079 126,371 
Freight— 5,229 7,083 
Selling, general and administrative739 16,824 17,754 
Research and development— 8,863 11,743 
Asset impairments and costs associated with exit and disposal activities, net of adjustments— 1,529 3,341 
Adjustment to the fair value estimates used in the disposal of Personal Care Films (a)
(1,118)— — 
Loss on sale of business— 50,027 — 
Total(379)174,551 166,292 
Income (loss) from discontinued operations before income taxes379 (64,638)(13,834)
Income tax expense (benefit)490 (6,027)(3,632)
Income (loss) from discontinued operations, net of tax$(111)$(58,611)$(10,202)
(a) Represents a net increase to the estimated fair value of Personal Care Films primarily due to lower costs associated with IT transition-related services to provide the seller developed assets, which did not exist at the time of the sale, to support the seller’s IT infrastructure.
    
The assets and liabilities of the discontinued operations reflected in the Consolidated Balance Sheets as of December 31, 2021 and 2020, respectively were as follows:
December 31
(In thousands)20212020
Assets
Prepaid expenses and other (a)
$178 $1,339 
Other assets— 151 
Total assets of discontinued operations$178 $1,490 
Liabilities
Accrued expenses (a)
$193 $7,521 
(a) The consolidated balance sheet of discontinued operations as of December 31, 2021 includes $0.2 million of other receivables related to the settlement of customary post-closing adjustments and other miscellaneous accrued expenses of $0.2 million. The consolidated balance sheet of discontinued operations as of December 31, 2020 includes $0.4 million of other receivables related to the settlement of customary post-closing adjustments, deferred assets of $0.9 million and deferred obligations of $5.3 million related to transition services, accrued severance of $2.1 million, and other miscellaneous accrued expenses of $0.2 million.
The following table provides significant operating and investing cash flow information for discontinued operations:
Year Ended December 31,
(In thousands)202120202019
Operating activities:
Depreciation and amortization$— $5,511 $9,962 
Gain from the sale of the Shanghai manufacturing facility assets
— — (6,316)
Loss on sale of Personal Care Films— 50,027 — 
Other(1,118)— — 
Total(1,118)55,538 3,646 
Investing activities:
Net proceeds on sale of Personal Care Films$— $55,115 $— 
Proceeds from the sale of the Shanghai manufacturing facility assets
— — 10,936 
Capital expenditures— (1,912)(15,353)
Total$— $53,203 $(4,417)
Bright View
In December 2020, the Company entered into a definitive agreement and completed the sale of Bright View, which resulted in the recognition of a pre-tax loss of $2.3 million ($1.8 million after-tax) included in “Other income (expense), net” in the consolidated statements of income for the year ended December 31, 2020. The sale did not represent a strategic shift nor did it have a major effect on the Company’s historical and ongoing operations, thus all financial information for Bright View has been presented as continuing operations within the PE Films segment.
Assets Held For Sale
In July 2019, the Company committed to a plan to close its manufacturing facility in Lake Zurich, Illinois, which historically was reported within the personal care component of its PE Films segment. As of December 31, 2020, the disposal group carrying value of $4.6 million