Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The carrying value of major classes of assets and liabilities related to our discontinued operations that constitute the Disposal Group at September 30, 2020 and December 31, 2019 were as follows ($ in thousands):

	September 30, 2020		December 31, 2019
	(unaudited)
Current assets held for sale:
Cash and cash equivalents	$	1,928	$	1,059
Short-term investments	—		517
Prepaid expenses and other assets	691		600
Total current assets held for sale	2,619		2,176
Non-current assets held for sale:
Right-of-use lease assets	3,351		3,607
Other non-current assets	354		288
Total non-current assets held for sale	3,705		3,895
Total assets held for sale	$	6,324	$	6,071
Current liabilities held for sale:
Accrued salaries and employee benefits	$	1,514	$	1,645
Accounts payable and accrued liabilities	268		163
Short-term lease liabilities	219		194
Total current liabilities held for sale	2,001		2,002
Non-current liabilities held for sale:
Non-current lease liabilities	3,317		3,543
Total non-current liabilities held for sale	3,317		3,543
Total liabilities held for sale	$	5,318	$	5,545

Discontinued operations includes (i) the management fee revenues generated under our asset management agreements with Front Yard, (ii) expense reimbursements from Front Yard and the underlying expenses, (iii) the results of operations of our India and Cayman Islands subsidiaries, (iv) the employment costs associated with certain individuals wholly dedicated to Front Yard and (v) the costs associated with our lease in Charlotte, North Carolina, that is expected to be assumed by Front Yard. The following table details the components comprising net income from our discontinued operations ($ in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Revenues from discontinued operations:
Management fees from Front Yard	$	3,584	$	3,584	$	10,752	$	10,686
Termination fee from Front Yard	12,267		—		12,267		—
Conversion fees from Front Yard	—		—		—		29
Expense reimbursements from Front Yard	626		250		1,707		920
Total revenues from discontinued operations	16,477		3,834		24,726		11,635
Expenses from discontinued operations:
Salaries and employee benefits	910		1,392		3,867		4,241
Legal and professional fees	67		38		180		123
General and administrative	334		441		1,171		1,328
Total expenses from discontinued operations	1,311		1,871		5,218		5,692
Other (loss) income from discontinued operations:
Other (loss) income	(6)		23		24		(14)
Total other (loss) income from discontinued operations	(6)		23		24		(14)
Net income from discontinued operations before income taxes	15,160		1,986		19,532		5,929
Income tax expense	317		42		415		144
Net income from discontinued operations	$	14,843	$	1,944	$	19,117	$	5,785

The following table details cash flow information related to our discontinued operations for the periods indicated ($ in thousands):

	Nine months ended September 30,
	2020		2019
Total operating cash flows provided by discontinued operations	$	19,055	$	5,047
Total investing cash flows provided by (used in) discontinued operations	438		(455)