| Schedule of Discontinued Operations |
The components of (loss) income from discontinued operations, net of tax for the three and six months ended June 30, 2025 and 2024, consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
For the six months ended June 30, |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Revenues |
|
$ |
— |
|
|
$ |
73,131 |
|
|
$ |
75,358 |
|
|
$ |
178,556 |
|
Costs and operating expenses |
|
36 |
|
|
69,601 |
|
|
71,865 |
|
|
174,853 |
|
| (Loss) income from discontinued operations |
|
(36) |
|
|
3,530 |
|
|
3,493 |
|
|
3,703 |
|
| Other impairment |
|
— |
|
|
— |
|
|
33,708 |
|
|
4,204 |
|
| Loss on the sale of discontinued operations |
|
13,251 |
|
|
— |
|
|
13,495 |
|
|
12,663 |
|
| Total (loss) income before income taxes |
|
(13,287) |
|
|
3,530 |
|
|
(43,710) |
|
|
(13,164) |
|
| (Benefit) provision for income taxes |
|
(2,846) |
|
|
1,019 |
|
|
(10,328) |
|
|
(3,522) |
|
| (Loss) income from discontinued operations, net of tax |
|
$ |
(10,441) |
|
|
$ |
2,511 |
|
|
$ |
(33,382) |
|
|
$ |
(9,642) |
|
The assets and liabilities reported as held-for-sale consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2024 |
| Assets |
|
|
Cash and cash equivalents |
$ |
(475) |
|
|
Receivables, net |
39,459 |
|
|
Inventories |
142,259 |
|
|
Prepaid expenses and other current assets |
11,057 |
|
|
Property and equipment, net |
14,546 |
|
|
Intangible assets, net |
124 |
|
|
Goodwill |
63,190 |
|
|
Operating lease right-of-use assets |
10,101 |
|
|
Other assets |
2,559 |
|
|
Total assets held-for-sale |
$ |
282,820 |
|
| Liabilities |
|
|
Accounts payable |
$ |
42,099 |
|
|
Accrued expenses and other current liabilities |
9,446 |
|
|
Long-term operating lease obligations |
8,645 |
|
|
Deferred tax liabilities |
8,010 |
|
|
Total liabilities held-for-sale |
$ |
68,200 |
|
Selected financial information related to cash flows from discontinued operations is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six months ended June 30, |
|
|
2025 |
|
2024 |
| Depreciation and amortization |
|
$ |
731 |
|
|
$ |
1,675 |
|
Stock-based compensation (a)
|
|
$ |
(225) |
|
|
$ |
425 |
|
| Purchases of property and equipment |
|
$ |
208 |
|
|
$ |
1,738 |
|
(a) Stock-based compensation benefit was recognized during the six months ended June 30, 2025 due to forfeitures in the period.
|
|