Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

Summary of Financial Results Included in Loss from Discontinued Operations

The following table presents financial results of the Nutrition business included in “loss from discontinued operations" for the three months ended March 31, 2021 and 2020.

	Three Months Ended March 31,
(In thousands)	2021			2020
Revenues	$	—		$	177,963
Cost of revenues		—			84,009
Marketing expenses		—			79,773
Selling, general and administrative expenses ⁽¹⁾		1,085			15,956
Depreciation and amortization		—			12,734
Impairment loss		—			199,500
Restructuring and related charges		—			260
Interest expense ⁽²⁾		—			10,394
Pretax loss from discontinued operations		(1,085	)		(224,663	)
Total pretax loss on discontinued operations	$	(1,085	)	$	(224,663	)
Income tax benefit		(277	)		(18,282	)
Loss from discontinued operations, net of income tax benefit	$	(808	)	$	(206,381	)

(1)

For the three months ended March 31, 2021, expenses from discontinued operations primarily relate to legal fees and separation costs.

(2)

The term loans under our Credit Agreement were originated with the purchase of Nutrisystem on March 8, 2019. Following the disposition of Nutrisystem, we repaid $519.0 million of principal on the term loans under the terms of our credit agreement. In conjunction with the partial debt prepayment, we wrote off a portion of the related deferred loan costs and original issue discount. For the three months ended March 31, 2020, we allocated interest expense to discontinued operations based on the interest expense incurred during the period related to $519.0 million of term loan debt, using our historical interest rates.

Summary of Depreciation, Amortization and Significant Operating and Investing Non-cash Items of the Discontinued Operations

The depreciation, amortization and significant operating and investing non-cash items of the discontinued operations were as follows:

	Three Months Ended March 31,
(In thousands)	2021			2020
Impairment of goodwill and intangible assets	$	—		$	199,500
Depreciation and amortization		—			12,734
Capital expenditures on discontinued operations		—			1,682
Deferred income taxes		(277	)		(18,279	)