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DISCONTINUED OPERATIONS AND DIVESTITURES (Tables) | 12 Months Ended
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Dec. 31, 2013
DISCONTINUED OPERATIONS AND DIVESTITURES [Abstract] |
Nature of expense and insurance receivables related to PFSG fire | The table below details the nature of expense as well as insurance receivables and insurance recoveries related to the fire:
Clean up costs |  | $ | 6,293,000 |
Impairment of fixed assets |  |  | 130,000 |
Incremental payroll costs |  |  | 244,000 |
Other incremental costs |  |  | 192,000 |
Total incurred costs through December 31, 2013 |  | $ | 6,859,000 |
Insurance recovery receivable |  | $ | 2,995,000 |
Insurance recoveries already received |  | $ | 3,664,000 |
Results of discontinued operations | The following table summarizes the results of discontinued operations for the years ended December 31, 2013 and 2012. The operating results of discontinued operations are included in our Consolidated Statements of Operations as part of our “Loss from discontinued operations, net of taxes.” Our income tax expense included a charge to tax expense of approximately $1,164,000 to provide a full valuation allowance on our net deferred tax assets.
|  | For The Year Ended December 31, |
Amount in Thousands |  | 2013 |  |  | 2012 |
Net revenue |  | $ | 1,789 |  |  | $ | 2,204 |
Interest Expense |  |  | (27 | ) |  |  | (34 | )
Operating income (loss) from discontinued operations |  |  | 59 |  |  |  | (560 | )
Income tax expense (benefit) |  |  | 1,627 |  |  |  | (530 | )
Loss from discontinued operations |  |  | (1,568 | ) |  |  | (30 | )
Disclosure of asset and liabilities of discontinued operations Held-for-sale | The following table presents the major classes of assets and liabilities of discontinued operations that are classified as held for sale as of December 31, 2013 and December 31, 2012. The held for sale assets and liabilities may differ at the closing of a sale transaction from the reported balances as of December 31, 2013:
|  | December 31, |  |  | December 31, |
(Amounts in Thousands) |  | 2013 |  |  | 2012 |
Accounts receivable, net (1) |  | $ | 20 |  |  | $ | 391 |
Inventories |  |  | 37 |  |  |  | 32 |
Other assets |  |  | 3,018 |  |  |  | 16 |
Property, plant and equipment, net (2) |  |  | 1,367 |  |  |  | 1,614 |
Total assets held for sale |  | $ | 4,442 |  |  | $ | 2,053 |
Accounts payable |  | $ | 2,716 |  |  | $ | 229 |
Accrued expenses and other liabilities |  |  | 363 |  |  |  | 528 |
Note payable |  |  | 35 |  |  |  | 71 |
Environmental liabilities |  |  | 840 |  |  |  | 1,373 |
Total liabilities held for sale |  | $ | 3,954 |  |  | $ | 2,201 |
(1) net of allowance for doubtful accounts of $13,000 and $45,000 as of December 31, 2013 and December 31, 2012, respectively. (2) net of accumulated depreciation of $55,000 and $60,000 as of December 31, 2013 and 2012, respectively.
Disclosure of assets and liabilities of discontinued operations not held for sale | The following table presents the major classes of assets and liabilities of discontinued operations that are not held for sale as of December 31, 2013 and December 31, 2012:
|  | December 31, |  |  | December 31, |
(Amounts in Thousands) |  | 2013 |  |  | 2012 |
Other assets |  | $ | 39 |  |  | $ | 60 |
Total assets of discontinued operations |  | $ | 39 |  |  | $ | 60 |
Accrued expenses and other liabilities |  | $ | 436 |  |  | $ | 884 |
Accounts payable |  |  | 15 |  |  |  | 15 |
Environmental liabilities |  |  | 191 |  |  |  | 241 |
Total liabilities of discontinued operations |  | $ | 642 |  |  | $ | 1,140 |
Accrued Environmental Liabilities | At December 31, 2013, we had total accrued environmental remediation liabilities of $1,031,000, of which $649,000 is recorded as a current liability, which reflects a decrease of $583,000 from the December 31, 2012 balance of $1,614,000. The net decrease represents payments of approximately $50,000 on remediation projects and a reduction in reserve of approximately $533,000 at PFSG based on reassessment of the remediation reserve. The December 31, 2013 current and long-term accrued environmental balance is recorded as follows (in thousands):
|  | Current |  |  | Long-term |  |  |  |
|  | Accrual |  |  | Accrual |  |  | Total |
PFD |  | $ | 11 |  |  | $ | 58 |  |  | $ | 69 |
PFM |  |  | 34 |  |  |  | 11 |  |  |  | 45 |
PFSG |  |  | 604 |  |  |  | 236 |  |  |  | 840 |
PFMI |  |  | — |  |  |  | 77 |  |  |  | 77 |
Total Liability |  | $ | 649 |  |  | $ | 382 |  |  | $ | 1,031 |

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