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Discontinued Operations
 9 Months Ended
Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

10. Discontinued Operations

 

The Company’s discontinued operations consist of all our subsidiaries included in our Industrial Segment which encompasses subsidiaries divested in 2011 and prior and three previously closed locations.

 

The Company’s discontinued operations had net losses of $43,000 and $67,000 for the three months ended September 30, 2021 and 2020, respectively (net of tax benefit of $98,000 and tax expense of $0 for the three month ended September 30, 2021 and 2020, respectively) and net losses of $285,000 and $266,000 for the nine months ended September 30, 2021 and 2020, respectively, (net of tax benefit of $98,000 and tax expense of $0 for the nine month ended September 30, 2021 and 2020, respectively). The losses (excluding the tax benefits) were primarily due to costs incurred in the administration and continued monitoring of our discontinued operations. The Company’s discontinued operations had no revenues for any of the periods noted above.

 

 

The following table presents the major class of assets of discontinued operations at September 30, 2021 and December 31, 2020. No assets and liabilities were held for sale at each of the periods noted.

 

   September 30,   December 31, 
(Amounts in Thousands)  2021   2020 
Current assets          
Other assets  $18   $22 
Total current assets   18    22 
Long-term assets          
Property, plant and equipment, net (1)   81    81 
Other assets   

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Total long-term assets   81    81 
Total assets  $99   $103 
Current liabilities          
Accounts payable  $3   $4 
Accrued expenses and other liabilities   207    150 
Environmental liabilities   122    744 
Total current liabilities   332    898 
Long-term liabilities          
Closure liabilities   148    142 
Environmental liabilities   654    110 
Total long-term liabilities   802    252 
Total liabilities  $1,134   $1,150 

 

(1)net of accumulated depreciation of $10,000 for each period presented.