DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2014

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

13. DISCONTINUED OPERATIONS

Discontinued operations includes the international operations discontinued in September 2012, the advertising media and broadcast operations and  television and film production/distribution operations  discontinued in June 2012 upon the sale of most of their assets during the Bankruptcy Proceedings, and the trading card and game distribution operations.

The following are the summarized results of discontinued operations for the years ended December 31, 2014 and 2013:

	Years Ended December 31,
	2014		2013
Total net revenues	$	—	$	—
Total income		389		1,170
Income from discontinued operations	$	389	$	1,170

The income from discontinued operations for the years ended December 31, 2014 and 2013 was primarily the result of the reversal of liabilities upon the settlement of claims.

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

	December 31, 2014		December 31, 2013
ASSETS
Accounts receivable – net	$	4	$	1
Current assets of discontinued operations	$	4	$	1
LIABILITIES
Accounts payable and accrued expenses	$	114	$	618
Current liabilities of discontinued operations	$	114	$	618

Exit costs

A summary of the actions taken for severance and other exit costs have been recorded in loss from discontinued operations and the estimated remaining liability associated with such costs are as follows:

	Total Expenses (Income)			Remaining Liability as of  December 31, 2014
Termination of contracts and leases	$	(60	)	$	—
Total	$	(60	)	$	—

Noncontrolling interest from discontinued operations

The trading card and game distribution operations were conducted through entities that included noncontrolling interests.

As of January 1, 2009, all earnings and losses of a subsidiary are attributed to both the parent and the noncontrolling interest, even if the losses attributable to the noncontrolling interest result in a deficit noncontrolling interest balance.  Previously, any losses exceeding the noncontrolling interest’s investment in the subsidiaries were attributed to the parent.

a) TC Digital Games LLC - Noncontrolling interest of membership units in TC Digital represents the noncontrolling members’ proportionate share of the equity in the entity. Income is allocated to the membership units’ noncontrolling interest based on the ownership percentage throughout the year. As of December 31, 2014, the noncontrolling member continued to hold 45% of the equity in the entity.  The following table summarizes the noncontrolling interest’s loss attributable to the noncontrolling equity interest in TC Digital:

	Year Ended December 31,
	2014			2013
TC Digital net income before common units noncontrolling interest	$	25		$	888
Noncontrolling interest percentage		45	%		45	%
Income attributable to noncontrolling interest	$	11		$	399

No interest expense was charged for the years ended December 31, 2014 and 2013.

As of December 31, 2014, the loss in excess of noncontrolling interest for TC Digital absorbed by 4Kids Digital, in the aggregate, since the formation of such entity is $21,534.

b) TC Websites LLC - As of December 31, 2014, the noncontrolling member held 45% of the equity in the entity.  The following table summarizes the noncontrolling interest’s loss attributable to the noncontrolling equity interest in TC Websites:

	Year Ended December 31,
	2014			2013
TC Websites net income before common units noncontrolling interest	$	35		$	—
Noncontrolling interest percentage		45	%		45	%
Income attributable to noncontrolling interest	$	16		$	—

As of December 31, 2014, the loss in excess of noncontrolling interest for TC Websites absorbed by 4Kids Websites in the aggregate since the formation of such entity is $6,019.