DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2012

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

13. DISCONTINUED OPERATIONS

In connection with its on-going evaluation of each of its business units, the management of the Company recommended to the Board of Directors of the Company that based upon the substantial operational losses and declining revenues being incurred by the Company's international operations, such operations should be discontinued. Accordingly, on August 16, 2012, the Company's Board of Directors determined to discontinue the operations of its UK Subsidiary, 4Kids International, effective September 30, 2012.  Pursuant to the Asset Purchase Agreement and the corresponding assets sold and due to their continued lack of profitability, effective June 30, 2012, the Company terminated the operations of 4Kids Ad Sales, 4Kids Productions, 4Kids Music and 4Kids Home Video. Additionally, effective September 30, 2010, the Company terminated the operations of TC Digital and TC Websites. The results of operations for the international, advertising media and broadcast segment, television and film production/distribution segment and the trading card and game distribution segment are reported as a discontinued operation and the accompanying consolidated financial statements have been reclassified for all prior periods to report the assets, liabilities and operating results of this business.

The following are the summarized results of discontinued operations for the years ended December 31, 2012, 2011 and 2010:

	Years Ended December 31,
	2012			2011			2010
Total net revenues	$	2,101		$	4,284		$	3,748
Total costs and expenses		12,210			19,511			29,856
Loss from discontinued operations	$	(10,109	)	$	(15,227	)	$	(26,108	)

The major classes of assets and liabilities of the discontinued operations on the balance sheet are as follows:

	December 31, 2012		December 31, 2011
ASSETS
Accounts receivable – net	$	230	$	4,343
Prepaid and other current assets		37		329
Current assets of discontinued operations	$	267	$	4,672
Property and equipment - net	$	1	$	335
Film and television costs - net		—		2,465
Other assets - net		—		1,196
Non-current assets of discontinued operations	$	1	$	3,996
LIABILITIES
Due to licensors	$	—	$	173
Accounts payable and accrued expenses		1,859		9,059
Deferred revenue		—		155
Current liabilities of discontinued operations	$	1,859	$	9,387
Deferred rent	$	—	$	498
Noncurrent liabilities of discontinued operations	$	—	$	498