| Schedule of Discontinued Operations |
The following table presents the aggregate carrying amounts of the classes of assets and liabilities of the Company's discontinued operations:
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
September 30, 2025 |
|
December 31, 2024 |
| Carrying amounts of assets included as part of discontinued operations: |
|
|
|
| Cash and cash equivalents |
$ |
— |
|
|
$ |
10 |
|
| Accounts receivable, net |
— |
|
|
11,597 |
|
| Inventories |
— |
|
|
35,236 |
|
| Prepaid expenses and other current assets |
— |
|
|
998 |
|
| Current assets classified as discontinued operations |
— |
|
|
47,841 |
|
| Property, plant and equipment, net |
— |
|
|
7,873 |
|
| Right-of-use assets, operating leases, net |
— |
|
|
85 |
|
| Intangible assets, net |
— |
|
|
3,564 |
|
| Other non-current assets, net |
— |
|
|
2,661 |
|
| Long-term assets classified as discontinued operations |
— |
|
|
14,183 |
|
| Total assets classified as discontinued operations |
$ |
— |
|
|
$ |
62,024 |
|
|
|
|
|
| Carrying amounts of current liabilities included as part of discontinued operations: |
|
|
|
| Accounts payable |
— |
|
|
6,252 |
|
| Deferred revenue |
— |
|
|
1,360 |
|
| Accrued expenses and other current liabilities |
— |
|
|
2,019 |
|
| Current portion of operating lease liabilities |
— |
|
|
84 |
|
| Current portion of finance lease liabilities |
|
|
41 |
|
| Current liabilities classified as discontinued operations |
— |
|
|
9,756 |
|
|
|
|
|
| Total liabilities classified as discontinued operations |
$ |
— |
|
|
$ |
9,756 |
|
The financial results are presented as income (loss) from discontinued operations, net of tax on the unaudited condensed consolidated statements of income (loss). The following table summarizes the results of the Company's discontinued operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended
September 30, |
| (in thousands) |
2025 |
|
2024 |
|
2025 |
|
2024 |
| Net sales |
$ |
— |
|
|
$ |
22,051 |
|
|
$ |
34,460 |
|
|
$ |
74,848 |
|
| Cost of sales |
— |
|
|
19,037 |
|
|
29,770 |
|
|
68,982 |
|
| Gross profit |
— |
|
|
3,014 |
|
|
4,690 |
|
|
5,866 |
|
|
|
|
|
|
|
|
|
| Selling, general and administrative expense |
— |
|
|
632 |
|
|
1,888 |
|
|
4,115 |
|
| Loss (gain) on sale of assets |
1,900 |
|
|
(1,541) |
|
|
(7,094) |
|
|
(1,541) |
|
| Acquisition costs and other |
— |
|
|
8 |
|
|
3,421 |
|
|
153 |
|
| Asset impairments |
— |
|
|
— |
|
|
— |
|
|
1,115 |
|
| Income (loss) on discontinued operations before income taxes |
(1,900) |
|
|
3,915 |
|
|
6,475 |
|
|
2,024 |
|
| Income tax expense (benefit) |
62 |
|
|
2,266 |
|
|
(8) |
|
|
1,864 |
|
| Net income (loss) from discontinued operations |
$ |
(1,962) |
|
|
$ |
1,649 |
|
|
$ |
6,483 |
|
|
$ |
160 |
|
|