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Discontinued Operations
 3 Months Ended
Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

Note 3. – Discontinued Operations

All of the businesses discussed in the note below are reported as discontinued operations and the condensed consolidated financial statements for all prior periods have been adjusted to reflect this presentation.

 

Results for all of the businesses included in discontinued operations are presented in the following table:

 

     Three Months Ended  
     September 30,  
     2018      2017  

Net Revenues:

      

Sold Hospitals

    $ (6 )     $ (12 ) 
  

 

 

     

 

 

  
   $ (6 )     $ (12 ) 
  

 

 

     

 

 

  

Earnings (Loss) before income taxes:

      

Sold Hospitals

    $ (38 )     $ (17 ) 

Life sciences and engineering

      (25 )       (36 ) 
  

 

 

     

 

 

  

Earnings (Loss) before income taxes

      (63 )       (53 ) 

Income tax expense

      0        0  
  

 

 

     

 

 

  

Earnings (Loss) from discontinued operations

    $ (63 )     $ (53 ) 
  

 

 

     

 

 

  

Sold Hospitals – Subsidiaries of the Company sold substantially all of the assets of four hospitals (“Sold Hospitals”) during the period July 2, 2012 to August 31, 2016. The earnings (loss) before income taxes of the Sold Hospitals results primarily from retained professional liability claims expenses.

Life Sciences and Engineering Segment—SunLink retained a defined benefit retirement plan which covered substantially all of the employees of this segment when the segment was sold in fiscal 1998. Effective February 28, 1997, the plan was amended to freeze participant benefits and close the plan to new participants. Pension expense and related tax benefit or expense is reflected in the results of operations for this segment for the three months ended September 30, 2018 and 2017.

The components of pension expense for the three months ended September 31, 2018 and 2017, respectively, were as follows:

 

     Three Months Ended  
     September 30,  
     2018      2017  

Interest Cost

    $ 14      $ 14  

Expected return on assets

      (9 )       (9 ) 

Amortization of prior service cost

      20        31  
  

 

 

     

 

 

  

Net pension expense

    $ 25      $ 36  
  

 

 

     

 

 

  

SunLink contributed $25 to the plan in the three months ended September 30, 2018 and expects to contribute an additional $75 during the last three fiscal quarter of the fiscal year ending June 30, 2019.