• Filing Date: 2020-07-09
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.2
Discontinued Operations
6 Months Ended
May 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations

On October 25, 2013, the Company sold substantially all of the operating assets comprising its structured settlement business to Majestic Opco LLC pursuant to an Asset Purchase Agreement. No structured settlement receivables were sold and no on-balance sheet liabilities were transferred in connection with the sale. On August 18, 2015, the Company sold its remaining structured settlement receivables asset to the buyer of its operating assets.

As a result of the sale of its structured settlements business, the Company reclassified its structured settlement business operating results as discontinued operations in the accompanying Consolidated Statements of Operations for all periods presented.

Operating results related to the Company’s discontinued structured settlement business are as follows:
 
Three Months Ended
May 31,
 
Six Months Ended
May 31,
 
2020
 
2019
 
2020
 
2019
 
(in thousands)
 
 
Total income
$

 
$

 

 

Total expenses
(10
)
 
16

 
53

 
33

Income (loss) before income taxes
10

 
(16
)
 
(53
)
 
(33
)
(Benefit) provision for income taxes


 

 

 

Net income (loss) from discontinued operations, net of income taxes
$
10

 
$
(16
)
 
$
(53
)
 
$
(33
)