ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 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):

	September 30, 2022		December 31, 2021
Trade receivables	$	—	$	1,327
Inventories		—		3,737
Prepaid expenses and other current assets		—		944
Property, plant and equipment		—		10,036
Intangible assets		—		3,304
Current assets held for sale	$	—	$	19,348
Accounts payable	$	—	$	1,207
Accrued compensation		—		439
Other accrued liabilities		—		109
Current liabilities held for sale	$	—	$	1,755

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

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2022		2022
Net sales	$	2,203	$	11,028
Cost of goods sold		1,945		8,265
Gross profit		258		2,763
Selling, general and administrative expenses		760		3,375
Research and development expenses		148		437
Impairment on remeasurement or classification as held for sale		—		4,541
Loss on sale of net assets held for sale		239		239
Loss from discontinued operations before other income		(889)		(5,829)
Interest expense		(12)		(12)
Other income		—		6
Loss from discontinued operations before income tax		(901)		(5,835)
Income tax expense		—		(8)
Loss from discontinued operations, net of tax	$	(901)	$	(5,843)