| Schedule of Discontinued Operations |
The components of loss from discontinued operations, net of tax for the three months ended March 31, 2025 and 2024, consist of the following (in thousands):
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Three months ended March 31, |
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2025 |
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2024 |
| Revenues |
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$ |
75,358 |
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$ |
105,425 |
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Costs and operating expenses |
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71,829 |
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105,252 |
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| Income from discontinued operations |
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3,529 |
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173 |
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| Other impairment |
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33,708 |
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4,204 |
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| Loss on the sale of discontinued operations |
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244 |
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12,663 |
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| Total loss before income taxes |
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(30,423) |
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(16,694) |
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| Benefit for income taxes |
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(7,482) |
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(4,541) |
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| Loss from discontinued operations, net of tax |
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$ |
(22,941) |
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$ |
(12,153) |
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The assets and liabilities reported as held-for-sale consist of the following (in thousands):
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March 31, |
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December 31, |
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2025 |
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2024 |
| Assets |
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Cash and cash equivalents |
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$ |
4,797 |
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$ |
(475) |
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Receivables, net |
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47,424 |
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39,459 |
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Inventories |
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141,223 |
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142,259 |
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Prepaid expenses and other current assets |
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10,218 |
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11,057 |
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Property and equipment, net |
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14,113 |
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14,546 |
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Intangible assets, net |
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93 |
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124 |
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Goodwill |
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29,482 |
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63,190 |
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Operating lease right-of-use assets |
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9,595 |
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10,101 |
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Other assets |
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2,566 |
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2,559 |
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Total assets held-for-sale |
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$ |
259,511 |
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$ |
282,820 |
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| Liabilities |
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Accounts payable |
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$ |
36,546 |
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$ |
42,099 |
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Accrued expenses and other current liabilities |
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8,402 |
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9,446 |
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Long-term operating lease obligations |
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8,086 |
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8,645 |
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Deferred tax liabilities |
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— |
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8,010 |
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Total liabilities held-for-sale |
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$ |
53,034 |
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$ |
68,200 |
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Selected financial information related to cash flows from discontinued operations is as follows (in thousands):
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Three months ended March 31, |
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2025 |
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2024 |
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| Depreciation and amortization |
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$ |
731 |
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$ |
835 |
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Stock-based compensation (a)
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$ |
(225) |
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$ |
222 |
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| Purchases of property and equipment |
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$ |
208 |
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$ |
1,303 |
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(a) Stock-based compensation benefit was recognized during the three months ended March 31, 2025 due to forfeitures in the period.
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