Discontinued Operations (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2020. There were no discontinued operations for the three months ended September 30, 2020.

	Nine Months Ended September 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 nine months ended September 30, 2019.

	Three Months Ended September 30, 2019
	TS Biotechnology Sale		EnviroFlight Sale		Total
Revenues (1)	$	4,744	$	—	$	4,744
Operating expenses	8,606		118		8,724
Operating loss	(3,862)		(118)		(3,980)
Other income, net	59		—		59
Equity in net loss of affiliates	—		(1,168)		(1,168)
Loss before income taxes	(3,803)		(1,286)		(5,089)
Income tax benefit	509		—		509
Loss from discontinued operations	$	(3,294)	$	(1,286)	$	(4,580)

(1)Includes revenues recognized from related parties of $1,577.

	Nine Months Ended September 30, 2019
	TS Biotechnology Sale		EnviroFlight Sale		Total
Revenues (1)	$	8,644	$	—	$	8,644
Operating expenses	26,794		353		27,147
Operating loss	(18,150)		(353)		(18,503)
Other expense, net	(438)		—		(438)
Equity in net loss of affiliates	—		(3,091)		(3,091)
Loss before income taxes	(18,588)		(3,444)		(22,032)
Income tax benefit	1,590		—		1,590
Loss from discontinued operations	$	(16,998)	$	(3,444)	$	(20,442)

(1)Includes revenues recognized from related parties of $1,807.

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.

	Nine Months Ended   September 30,
	2020		2019
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	$	—	$	3,740
Gain on sale of discontinued operations	(672)		—
Loss on release of cumulative foreign currency translation adjustment	26,957		—
Unrealized and realized depreciation on equity securities and preferred stock, net	106		436
Equity in net loss of EnviroFlight	38		3,091
Stock-based compensation expense	(1,346)		1,969
Deferred income taxes	—		(1,389)
Cash flows from investing activities
Investments in EnviroFlight	—		(2,000)
Purchases of property, plant and equipment	(382)		(21,514)

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   September 30,		Nine Months Ended   September 30,
	2019		2020		2019
Revenues	$	139	$	16	$	363
Operating expenses	2,480		92		6,561
Operating loss	(2,341)		(76)		(6,198)
Other, net	5		—		17
Net loss	$	(2,336)	$	(76)	$	(6,181)