ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2022

ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

Schedule of assets, liabilities, intangible assets and loss from discontinued operations

The assets and liabilities of IKONICS are presented separately in current assets held for sale and current liabilities held for sale, respectively, in the consolidated balance sheets and includes the following (in thousands):

	June 30, 2022		December 31, 2021
Trade receivables	$	1,843	$	1,327
Inventories		3,997		3,737
Prepaid expenses and other current assets		551		944
Property, plant and equipment		7,540		10,036
Intangible assets		1,265		3,304
Current assets held for sale	$	15,196	$	19,348
Accounts payable	$	1,567	$	1,207
Accrued compensation		785		439
Other accrued liabilities		142		109
Current liabilities held for sale	$	2,494	$	1,755

The loss from discontinued operations, net of tax presented in the consolidated statements of operations consists of the following (in thousands):

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2022		2022
Net sales	$	4,595	$	8,825
Cost of goods sold		3,097		6,320
Gross profit		1,498		2,505
Selling, general and administrative expenses		1,351		2,615
Research and development expenses		152		289
Impairment on remeasurement or classification as held for sale		619		4,541
Loss from discontinued operations before other income		(624)		(4,940)
Other income		3		6
Loss from discontinued operations before income tax		(621)		(4,934)
Income tax expense		9		8
Loss from discontinued operations, net of tax	$	(630)	$	(4,942)