DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

In December 2019, we sold our Workspace Management business to FM:Systems for approximately $121,500 in cash. We used the proceeds to pay down debt owed to our senior lender. In July 2020 we finalized our working capital adjustment and received funds of $1,687 representing the entire amount of the escrow. This transaction enabled us to focus on and continue to deliver our HCM solutions to small and mid-size businesses.

The table below reflects the operating results of the Workspace Management business reported as discontinued operations:


	Year Ended December 31
	2019
Revenue	$	24,619

Income from discontinued operations	$	3,498
Gain on sale of discontinued operations	94,293
Income tax expense	(25,499)
Income from discontinued operations, net of taxes	$	72,292

The table below reflects the depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the Workspace Management business reported as discontinued operations:


	Year Ended December 31
	2019
Depreciation and amortization	$	1,060
Provision for doubtful accounts	(87)
Share based compensation	278
Capital expenditures	(417)
Software capitalization	(1,083)
Gain on sale of discontinued operations	(94,293)