Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The carrying values of the major classes of assets and liabilities included in assets and liabilities held for sale for the Transactions as of December 31, 2019 are as follows:

	TS Biotechnology Sale		EnviroFlight Sale		Total
Assets
Cash and cash equivalents	$	2,223	$	—	$	2,223
Other current assets	9,698		—		9,698
Property, plant and equipment, net	51,975		—		51,975
Intangible assets, net	20,891		4,383		25,274
Investments in affiliates	—		7,817		7,817
Right-of-use assets	13,622		—		13,622
Other noncurrent assets	212		—		212
Total assets held for sale	$	98,621	$	12,200	$	110,821
Liabilities
Deferred revenue, current (1)	$	8,723	$	—	$	8,723
Operating lease liabilities, current	2,459		—		2,459
Other current liabilities	3,058		41		3,099
Deferred revenue, net of current portion (2)	19,410		—		19,410
Operating lease liabilities, net of current portion	12,623		—		12,623
Other long-term liabilities	1,019		—		1,019
Total liabilities held for sale	$	47,292	$	41	$	47,333

(1)Includes deferred revenue, current, from related parties of $1,243.

(2)Includes deferred revenue, net of current portion, from related parties of $6,836.

The following table presents the financial results of discontinued operations for the six months ended June 30, 2020. There were no discontinued operations for the three months ended June 30, 2020.

	Six Months Ended June 30, 2020
	TS Biotechnology Sale		EnviroFlight Sale		Total
Revenues (1)	$	1,294	$	—	$	1,294
Operating expenses	896		—		896
Operating income	398		—		398
Gain on sale of discontinued operations	633		39		672
Loss on release of cumulative foreign currency translation adjustment	(26,957)		—		(26,957)
Other expense, net	(129)		—		(129)
Equity in net loss of affiliates	—		(38)		(38)
Income (loss) before income taxes	(26,055)		1		(26,054)
Income tax expense	(2)		—		(2)
Income (loss) from discontinued operations	$	(26,057)	$	1	$	(26,056)

(1)Includes revenues recognized from related parties of $436.

The following tables present the financial results of discontinued operations for the three and six months ended June 30, 2019.

	Three Months Ended June 30, 2019
	TS Biotechnology Sale		EnviroFlight Sale		Total
Revenues (1)	$	3,150	$	—	$	3,150
Operating expenses	9,069		117		9,186
Operating loss	(5,919)		(117)		(6,036)
Other expense, net	(75)		—		(75)
Equity in net loss of affiliates	—		(1,031)		(1,031)
Loss before income taxes	(5,994)		(1,148)		(7,142)
Income tax benefit	516		—		516
Loss from discontinued operations	$	(5,478)	$	(1,148)	$	(6,626)

(1)Includes revenues recognized from related parties of $1,208.

	Six Months Ended June 30, 2019
	TS Biotechnology Sale		EnviroFlight Sale		Total
Revenues (1)	$	3,900	$	—	$	3,900
Operating expenses	18,188		235		18,423
Operating loss	(14,288)		(235)		(14,523)
Other expense, net	(497)		—		(497)
Equity in net loss of affiliates	—		(1,923)		(1,923)
Loss before income taxes	(14,785)		(2,158)		(16,943)
Income tax benefit	1,081		—		1,081
Loss from discontinued operations	$	(13,704)	$	(2,158)	$	(15,862)

(1)Includes revenues recognized from related parties of $230.

The following table presents the significant non-cash items and purchases of property, plant and equipment for the discontinued operations that are included in the accompanying condensed consolidated statements of cash flows.

	Six Months Ended   June 30,
	2020		2019
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	$	—	$	2,483
Unrealized and realized depreciation on equity securities and preferred stock, net	106		507
Equity in net loss of EnviroFlight	38		1,923
Stock-based compensation expense	(1,346)		1,351
Deferred income taxes	—		(935)
Gain on sale of discontinued operations	(672)		—
Loss on release of cumulative foreign currency translation adjustment	26,957		—
Cash flows from investing activities
Purchases of property, plant and equipment	(382)		(18,275)

Also see Note 13 below.

Equity Method Investments

The Company accounted for its investment in EnviroFlight using the equity method of accounting.

Summarized financial data for EnviroFlight are shown in the following tables for the periods in which the Company held the equity method investment.

	December 31,
	2019
Current assets	$	703
Noncurrent assets	30,549
Total assets	31,252
Current liabilities	2,352
Non-current liabilities	88
Total liabilities	2,440
Net assets	$	28,812

	Three Months Ended   June 30,		Six Months Ended   June 30,
	2019		2020		2019
Revenues	$	130	$	16	$	224
Operating expenses	2,200		92		4,081
Operating loss	(2,070)		(76)		(3,857)
Other, net	8		—		12
Net loss	$	(2,062)	$	(76)	$	(3,845)