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Operating Segments | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Operating Segments |
12. | Operating Segments
In accordance with ASC 280, “Segment Reporting”, the Company defines an operating segment as a business activity: (1) from which we may earn revenue and incur expenses; (2) whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance; and (3) for which discrete financial information is available. Our reporting segments are defined as below: TREATMENT SEGMENT, which includes:
| - | nuclear, low-level radioactive, mixed waste (containing both hazardous and low-level radioactive constituents), hazardous and non-hazardous waste treatment, processing and disposal services primarily through three uniquely licensed and permitted treatment and storage facilities; and
| - | R&D activities to identify, develop and implement innovative waste processing techniques for problematic waste streams.
SERVICES SEGMENT, which includes:
| - | Technical services, which include:
| ○ | professional radiological measurement and site survey of large government and commercial installations using advanced methods, technology and engineering;
|  | integrated Occupational Safety and Health services including IH assessments; hazardous materials surveys, e.g., exposure monitoring; lead and asbestos management/abatement oversight; indoor air quality evaluations; health risk and exposure assessments; health & safety plan/program development, compliance auditing and training services; and OSHA citation assistance;
| ○ | global technical services providing consulting, engineering, project management, waste management, environmental, and decontamination and decommissioning field, technical, and management personnel and services to commercial and government customers; and
| ○ | on-site waste management services to commercial and governmental customers.
| - | Nuclear services, which include:
| ○ | technology-based services including engineering, decontamination and decommissioning (“D&D”), specialty services and construction, logistics, transportation, processing and disposal;
| ○ | remediation of nuclear licensed and federal facilities and the remediation cleanup of nuclear legacy sites. Such services capability includes: project investigation; radiological engineering; partial and total plant D&D; facility decontamination, dismantling, demolition, and planning; site restoration; logistics; transportation; and emergency response; and
| - | A company owned equipment calibration and maintenance laboratory that services, maintains, calibrates, and sources (i.e., rental) health physics, IH and customized NIOSH instrumentation.
| - | A company owned gamma spectroscopy laboratory for the analysis of oil and gas industry solids and liquids.
MEDICAL SEGMENT, which includes: Research and Development (“R&D”) of the Company’s medical isotope production technology by our majority-owned Polish subsidiary, Perma-Fix Medical S.A. and its wholly-owned subsidiary Perma-Fix Medical Corporation (“PFM Corporation”) (together known as “PF Medical” or the Medical Segment). The Company’s Medical Segment has not generated any revenue as it remains in the R&D stage. The Medical Segment has substantially reduced its R&D activities due to the need for capital to fund these activities. The Company anticipates that the Medical Segment will not resume full R&D activities until the necessary capital is obtained through its own credit facility or additional equity raise or obtains partners willing to provide funding for its R&D. All costs incurred by the Medical Segment are reflected within R&D in the accompanying consolidated financial statements. Our reporting segments exclude our corporate headquarters and our discontinued operations (see “Note 11 – Discontinued Operations”) which do not generate revenues. The table below presents certain financial information of our operating segments for the three and six months ended June 30, 2019 and 2018 (in thousands).
Segment Reporting for the Quarter Ended June 30, 2019
|  | Treatment |  |  | Services |  |  | Medical |  |  | Segments Total |  |  | Corporate(1) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 10,094 |  |  | $ | 7,041 |  |  |  | — |  |  | $ | 17,135 |  |  | $ | — |  |  | $ | 17,135 |
Intercompany revenues |  |  | 7 |  |  |  | 42 |  |  |  | — |  |  |  | 49 |  |  |  | — |  |  |  | — |
Gross profit |  |  | 2,627 |  |  |  | 644 |  |  |  | — |  |  |  | 3,271 |  |  |  | — |  |  |  | 3,271 |
Research and development |  |  | 136 |  |  |  | — |  |  |  | 80 |  |  |  | 216 |  |  |  | 7 |  |  |  | 223 |
Interest income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 107 |  |  |  | 107 |
Interest expense |  |  | (30 | ) |  |  | (4 | ) |  |  | — |  |  |  | (34 | ) |  |  | (73 | ) |  |  | (107 | )
Interest expense-financing fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (60 | ) |  |  | (60 | )
Depreciation and amortization |  |  | 233 |  |  |  | 79 |  |  |  | — |  |  |  | 312 |  |  |  | 5 |  |  |  | 317 |
Segment income (loss) before income taxes |  |  | 1,611 |  |  |  | 137 |  |  |  | (80 | ) |  |  | 1,668 |  |  |  | (1,289 | ) |  |  | 379 |
Income tax expense |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | 6 |
Segment income (loss) |  |  | 1,605 |  |  |  | 137 |  |  |  | (80 | ) |  |  | 1,662 |  |  |  | (1,289 | ) |  |  | 373 |
Expenditures for segment assets |  |  | 73 |  |  |  | 15 |  |  |  | — |  |  |  | 88 |  |  |  | — |  |  |  | 88 |
Segment Reporting for the Quarter Ended June 30, 2018
|  | Treatment |  |  | Services |  |  | Medical |  |  | Segments Total |  |  | Corporate(1) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 9,146 |  |  | $ | 4,014 |  |  |  | — |  |  | $ | 13,160 |  |  | $ | — |  |  | $ | 13,160 |
Intercompany revenues |  |  | 77 |  |  |  | 26 |  |  |  | — |  |  |  | 103 |  |  |  | — |  |  |  | — |
Gross profit |  |  | 1,523 |  |  |  | 520 |  |  |  | — |  |  |  | 2,043 |  |  |  | — |  |  |  | 2,043 |
Research and development |  |  | 115 |  |  |  | — |  |  |  | 71 |  |  |  | 186 |  |  |  | 33 |  |  |  | 219 |
Interest income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 81 |  |  |  | 81 |
Interest expense |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | (8 | ) |  |  | (54 | ) |  |  | (62 | )
Interest expense-financing fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | (9 | )
Depreciation and amortization |  |  | 227 |  |  |  | 123 |  |  |  | — |  |  |  | 350 |  |  |  | 9 |  |  |  | 359 |
Segment income (loss) before income taxes |  |  | 2,028 | (2) |  |  | 116 |  |  |  | (71 | ) |  |  | 2,073 |  |  |  | (1,266 | ) |  |  | 807 |
Income tax expense |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 14 |  |  |  | 5 |  |  |  | 19 |
Segment income (loss) |  |  | 2,014 |  |  |  | 116 |  |  |  | (71 | ) |  |  | 2,059 |  |  |  | (1,271 | ) |  |  | 788 |
Expenditures for segment assets |  |  | 271 |  |  |  | 35 |  |  |  | — |  |  |  | 306 |  |  |  | — |  |  |  | 306 |
Segment Reporting for the Six Months Ended June 30, 2019
|  | Treatment |  |  | Services |  |  | Medical |  |  | Segments Total |  |  | Corporate(1) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 19,999 |  |  | $ | 8,844 |  |  |  | — |  |  | $ | 28,843 |  |  | $ | — |  |  | $ | 28,843 |
Intercompany revenues |  |  | 9 |  |  |  | 63 |  |  |  | — |  |  |  | 72 |  |  |  | — |  |  |  | — |
Gross profit |  |  | 5,584 |  |  |  | 188 |  |  |  | — |  |  |  | 5,772 |  |  |  | — |  |  |  | 5,772 |
Research and development |  |  | 283 |  |  |  | — |  |  |  | 154 |  |  |  | 437 |  |  |  | 13 |  |  |  | 450 |
Interest income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 188 |  |  |  | 188 |
Interest expense |  |  | (47 | ) |  |  | (13 | ) |  |  | — |  |  |  | (60 | ) |  |  | (134 | ) |  |  | (194 | )
Interest expense-financing fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (70 | ) |  |  | (70 | )
Depreciation and amortization |  |  | 470 |  |  |  | 157 |  |  |  | — |  |  |  | 627 |  |  |  | 14 |  |  |  | 641 |
Segment income (loss) before income taxes |  |  | 3,487 |  |  |  | (875 | ) |  |  | (154 | ) |  |  | 2,458 |  |  |  | (2,590 | ) |  |  | (132 | )
Income tax expense |  |  | 45 |  |  |  | — |  |  |  | — |  |  |  | 45 |  |  |  | — |  |  |  | 45 |
Segment income (loss) |  |  | 3,442 |  |  |  | (875 | ) |  |  | (154 | ) |  |  | 2,413 |  |  |  | (2,590 | ) |  |  | (177 | )
Expenditures for segment assets |  |  | 294 |  |  |  | 18 |  |  |  | — |  |  |  | 312 |  |  |  | — |  |  |  | 312 |
Segment Reporting for the Six Months Ended June 30, 2018
|  | Treatment |  |  | Services |  |  | Medical |  |  | Segments Total |  |  | Corporate(1) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 18,105 |  |  | $ | 7,712 |  |  |  | — |  |  | $ | 25,817 |  |  | $ | — |  |  | $ | 25,817 |
Intercompany revenues |  |  | 289 |  |  |  | 39 |  |  |  | — |  |  |  | 328 |  |  |  | — |  |  |  | — |
Gross profit |  |  | 4,303 |  |  |  | 1,060 |  |  |  | — |  |  |  | 5,363 |  |  |  | — |  |  |  | 5,363 |
Research and development |  |  | 228 |  |  |  | — |  |  |  | 172 |  |  |  | 400 |  |  |  | 51 |  |  |  | 451 |
Interest income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 130 |  |  |  | 130 |
Interest expense |  |  | (8 | ) |  |  | (1 | ) |  |  | — |  |  |  | (9 | ) |  |  | (106 | ) |  |  | (115 | )
Interest expense-financing fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (18 | ) |  |  | (18 | )
Depreciation and amortization |  |  | 467 |  |  |  | 246 |  |  |  | — |  |  |  | 713 |  |  |  | 18 |  |  |  | 731 |
Segment income (loss) before income taxes |  |  | 3,772 | (2) |  |  | 31 |  |  |  | (172 | ) |  |  | 3,631 |  |  |  | (2,521 | ) |  |  | 1,110 |
Income tax expense |  |  | 65 |  |  |  | — |  |  |  | — |  |  |  | 65 |  |  |  | 5 |  |  |  | 70 |
Segment income (loss) |  |  | 3,707 |  |  |  | 31 |  |  |  | (172 | ) |  |  | 3,566 |  |  |  | (2,526 | ) |  |  | 1,040 |
Expenditures for segment assets |  |  | 106 |  |  |  | 10 |  |  |  | — |  |  |  | 116 |  |  |  | — |  |  |  | 116 |
(1) Amounts reflect the activity for corporate headquarters not included in the segment information. (2) Amounts included a net gain of $1,596,000 recorded resulting from the exchange offer of the Series B Preferred Stock of our M&EC subsidiary which was consummated on May 30, 2018.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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