Discontinued Operations and Assets Held for Sale

6 Months Ended

Jun. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held for Sale

Discontinued Operations and Assets Held for Sale

The Company explored opportunities during the second quarter of 2017 to sell the separate business representing: 1) CoSense® End-Tidal Carbon Monoxide (ETCO) Monitor, or CoSense, which measures ETCO and 2) NFI, a wholly owned subsidiary that sells innovative pulmonary resuscitation solutions for the inpatient and ambulatory neonatal markets. NFI’s primary product is the NeoPip T-piece resuscitator and related consumable, which delivers consistent pre-set inspiratory pressure and positive end-expiratory pressures. Other NFI products include temperature probes, scales, surgical tables and patient surfaces.

Under ASC 205-20-45-10, during the period in which a component meets the assets held for sale and discontinued operations criteria, an entity must present the assets and liabilities of the discontinued operation separately in the asset and liability sections of the balance sheet for the comparative reporting periods. The prior period balance sheet should be reclassified for the held for sale items.

For income statements, the current and prior periods should report the results of operations of the component in discontinued operations when comparative income statements are presented.

The components of the balance sheet accounts presented as assets and liabilities held for sale were as follows:

	June 30, 2017		December 31, 2016
Current assets
Accounts receivable	$	153	$	130
Inventory	652		660
Property & equipment, net	32		—
Goodwill	718		—
Other intangible assets	768		—
Current assets held for sale	$	2,323	$	790
Long-term assets
Property & equipment, net	$	—	$	48
Goodwill	—		$	718
Other intangible assets	—		818
Long-term assets held for sale	—		1,584
Current liabilities
Accounts payable	$	48	$	127
Accrued compensation and other current liabilities	135		119
Other long-term liabilities	31		—
Total current liabilities for sale	$	214	$	246
Long-term liabilities
Other long-term liabilities	$	—	$	81
Long-term liabilities held for sale	—		81

The components of the income statement accounts presented as Discontinued Operations were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Product revenue	$	375		$	389		$	637		$	835
Cost of product revenue	281			377			489			820
Gross profit (loss)	94			12			148			15
Expenses
Research and development	452			669			914			1,476
Sales and marketing	93			410			180			752
General and administrative	252			87			395			176
Total expenses	797			1,166			1,489			2,404
Operating loss	(703		)	(1,154		)	(1,341		)	(2,389		)
Other income (expense)	(24		)	8			(29		)	27
Loss from discontinued operations	$	(727	)	$	(1,146	)	$	(1,370	)	$	(2,362	)