Discontinued Operations

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On October 18, 2016, the sale of GovDelivery to Vista was consummated for $153.0 million in cash, subject to certain adjustments for working capital, cash, debt and other items. Actua realized approximately $133.0 million in cash, of which approximately $10.0 million is being held in escrow and is subject to potential indemnification claims. Actua recorded a gain of $124.8 million related to the transaction during the fourth quarter of 2016.

The results of Actua's discontinued GovDelivery operations, which are presented on the line item "Income (loss) from discontinued operations, net of tax" on Actua’s Consolidated Statements of Operations and Comprehensive Income (Loss) is summarized below:

(in thousands)
Major classes of line items constituting pretax loss of discontinued operations	Three Months Ended March 31, 2016
Revenue	$	9,424
Cost of revenue	(3,470		)
Selling, general, administrative and other operating expenses	(7,935		)
Other non-major income and expense items	(79		)
Total discontinued operations before income taxes	(2,060		)
Income tax benefit (expense)	(21		)
Total discontinued operations, net of income taxes	(2,081		)
Less: discontinued operations attributable to noncontrolling interests	(110		)
Discontinued operations attributable to Actua Corporation	$	(1,971	)