XML 28 R17.htm IDEA: XBRL DOCUMENT v3.22.2
Discontinued Operations
 6 Months Ended
Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

10. Discontinued Operations

 

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

 

The Company’s discontinued operations had net losses of $188,000 (net of tax benefit of $18,000) and $127,000 (net of taxes of $0) for the three months ended June 30, 2022 and 2021, respectively and net losses of $282,000 (net of tax benefit of $80,000) and $242,000 (net of taxes of $0) for the six months ended June 30, 2022 and 2021, respectively. The losses 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 each of the periods noted above.

 

 

The following table presents the major class of assets of discontinued operations as of June 30, 2022 and December 31, 2021. No assets and liabilities were held for sale at each of the periods noted.

 

   June 30,   December 31, 
(Amounts in Thousands)  2022   2021 
Current assets          
Other assets  $17   $15 
Total current assets   17    15 
Long-term assets          
Property, plant and equipment, net (1)   81    81 
Total long-term assets   81    81 
Total assets  $98   $96 
Current liabilities          
Accounts payable  $11   $3 
Accrued expenses and other liabilities   152    154 
Environmental liabilities   751    349 
Total current liabilities   914    506 
Long-term liabilities          
Closure liabilities   155    150 
Environmental liabilities   110    527 
Total long-term liabilities   265    677 
Total liabilities  $1,179   $1,183 

 

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