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DISCONTINUED OPERATIONS
 9 Months Ended
Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS

In December 2013, H&Q Korea acquired 49.99% of JobKorea from Monster and since that time the two companies have worked in partnership in managing the business (see Note 5- Noncontrolling Interest for additional details). On September 28, 2015, the Company entered into an agreement to sell its 50.01% ownership position in JobKorea to H&Q Korea for KRW 101 billion, or approximately $85,000. The transaction closed on October 13, 2015 and is consistent with Monster's continued strategy of unlocking value and sharpening its focus on the Company's core online recruitment platform. The Company is in the process of evaluating the accounting for this transaction, and expects to record a gain related to the sale in the fourth quarter of 2015.

Operating results for JobKorea, which had previously been reported in the Careers-International segment, and included in the Company’s consolidated statement of operations, have now been reclassified as discontinued operations for all periods presented. Summarized results of our discontinued operations are as follows:
 
 Three months ended September 30,
 
 Nine months ended September 30,
 
2015
 
2014
 
2015
 
2014
Revenue
$
12,165

 
$
11,629

 
$
35,660

 
$
33,553




 


 


 


Income from discontinued operations, before tax
$
3,979

 
$
3,470

 
$
9,770

 
$
10,409

Income tax expense(1)
(1,266
)
 
(1,094
)
 
(3,063
)
 
(3,299
)
Other direct costs(2)
(550
)

(63
)

(702
)

(202
)
Income from discontinued operations, net of tax
2,163


2,313


6,005


6,909

Less: income from discontinued operations attributable to noncontrolling interest, net of tax
1,512


1,318


3,712


3,954

Income from discontinued operations attributable to Monster Worldwide, Inc., net of tax
$
651


$
995


$
2,293


$
2,955


(1)
Income tax expense related to the discontinued operation includes tax of JobKorea in addition to allocated corporate tax for all periods presented.
(2)
Other direct costs primarily include direct costs associated with the sale of JobKorea for all periods presented.

The major classes of assets and liabilities held for sale are presented in the following table. All assets and liabilities have been classified as current in the consolidated balance sheet as of September 30, 2015 since the sale of JobKorea was completed on October 13, 2015.
 
September 30,
 
December 31,
 
2015
 
2014
Cash and cash equivalents
$
11,534

 
$
22,267

Accounts receivable, net of doubtful accounts of $123 & $122, respectively
3,302

 
2,954

Property and equipment, net
1,877

 
2,538

Goodwill
36,797

 
39,595

Prepaid and other assets
3,262

 
3,664

Total assets held for sale
$
56,772

 
$
71,018

Accounts payable, accrued expenses and other liabilities
$
6,591

 
$
4,924

Deferred revenue
3,509

 
3,088

Total liabilities held for sale
$
10,100

 
$
8,012