Note 2. Discontinued Operations

On February 20, 2020, the Company consummated the sale of substantially all of the assets and certain of the liabilities relating to fye to a subsidiary of Sunrise Records pursuant to an Asset Purchase Agreement dated January 23, 2020, by and among the Company, Record Town, Inc., Record Town USA LLC, Record Town Utah LLC, Trans World FL LLC, Trans World New York, LLC, 2428392 Inc., and Sunrise Records.

The results for fye were previously reported in the fye segment. Certain corporate overhead costs and segment costs previously allocated to fye for segment reporting purposes did not qualify for classification within discontinued operations and have been reallocated to continuing operations.

The following table summarizes the major line items for fye that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Income:

	Fifty-two Weeks Ended
(In thousands)	January 30, 2021		February 1, 2020
Net revenue	$	—	$	192,719
Cost of goods sold		—		127,013
Selling, general and administrative expenses		—		84,667
Impairment of long-lived assets		—		23,218
Interest expense		—		1,531
Other expense		—		364
Loss from discontinued operations before income taxes		—		(44,074	)
Income tax expense		—		277
Loss from discontinued operations, net of tax	$	—	$	(44,351	)

The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented:

(In thousands)	January 30, 2021		February 1, 2020
Cash	$	—	$	—
Accounts receivable, net		—		62
Inventories		—		50,122
Other current assets		—		1,005
Property, plant and equipment, net		—		—
Operating lease right-to-use asset		—		—
Other assets		—		—
Total assets of discontinued operations	$	—	$	51,189

Accounts payable	$	—	$	9,769
Accrued liabilities		—		779
Deferred revenue		—		6,764
Current portion of lease liabilities		—		8,976
Operating lease liabilities		—		11,059
Other liabilities		—		2,063
Total liabilities of discontinued operations	$	—	$	39,410

The cash flows related to discontinued operations have not been segregated and are included in the Consolidated Statements of Cash Flows. The following table summarizes the cash flows for discontinued operations that are included in the Consolidated Statements of Cash Flows:

	Fifty-two Weeks Ended
(In thousands)	January 30, 2021		February 1, 2020
Net cash used in operating activities	$	—	$	(12,849	)
Net cash used in investing activities		—		(1,171	)

Depreciation and amortization		—		2,674
Purchases of fixed assets		—		1,171