Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.3.1.900
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2015
Income from Discontinued Operations Amounts as Reported on Consolidated Statements of Operations

The income from discontinued operations amounts as reported on our consolidated statements of operations were comprised of the following amounts:

 

     Years Ended December 31,  

(in thousands)

    2015      2014      2013  

Net revenue

    $ —        $ 2,516       $ 53,539   
  

 

 

     

 

 

     

 

 

  

(Loss) income from operations before income taxes (a)

      (12,103 )       (3,477 )       2,386   

Exit activity and asset impairment charges before income taxes (b)

      —          —          (1,776 ) 

Income tax benefit (expense)

      —          150         (209 ) 
  

 

 

     

 

 

     

 

 

  

Income from operations of discontinued operations

      (12,103 )       (3,327 )       401   
  

 

 

     

 

 

     

 

 

  

Gain (loss) on disposal of discontinued operations:

         

Gain on sale of GVE before income taxes (c)

      —          —          5,622   

Impairment of DRTV before income taxes (c)

      —          —          (9,481 ) 

Income tax benefit

      —          —          1,463   
  

 

 

     

 

 

     

 

 

  

Loss from disposal of discontinued operations

      —          —          (2,396 ) 
  

 

 

     

 

 

     

 

 

  

(Loss) income from discontinued operations

    $ (12,103 )     $ (3,327 )     $ (1,995 ) 
  

 

 

     

 

 

     

 

 

  

 

(a) We recorded non-cash and cash charges of $12.1 million and $3.3 million during 2015 and 2014, respectively, associated with the legal dispute and settlement with Cinedigm.
(b) In direct conjunction with the discontinuing of our GVE and DRTV operations, during 2013 we recognized exit activity charges of $0.8 million for employee termination benefits and $1.0 million for non-cancellable facility leases, of which $0.3 million had been paid as of December 31, 2013, and the balance of these amounts was paid in 2014.
(c) As a direct result of the discontinuance of our GVE and DRTV operations, we recognized impairment charges of $2.5 million for inventory, $3.8 million for deferred advertising costs, $0.8 million for advances, $0.4 million for property and equipment, $2.1 million for media library, $6.7 million for goodwill, and $3.5 million for other intangibles.