Discontinued Operations

9 Months Ended

Sep. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Certain of our subsidiaries previously operated in the European Union ("EU"). Though our operations ceased in 2009, statutory requirements required a continued presence in the EU for varying terms until November 2015. Profits and losses generated from the remaining assets and liabilities are accounted for as discontinued operations.

In the third quarter of 2016, our petition with the UK (United Kingdom) Companies House to strike off and dissolve the remaining subsidiary in the EU was approved. As a result, for the three and nine months ended September 30, 2016, we recorded net income of $171,844 and $172,197, respectively. The net income came primarily from the writing off of certain accrued liabilities originating in 2009 and earlier. For the three and nine months ended September 30, 2015, we recorded net income of $32,065 and $37,632 largely due to adjustment of certain liabilities originating in 2009 and earlier and translation adjustments.