ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 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):

	March 31, 2022		December 31, 2021
Trade receivables	$	1,691	$	1,327
Inventories		3,718		3,737
Prepaid expenses and other current assets		948		944
Property, plant and equipment		7,867		10,036
Intangible assets		1,551		3,304
Current assets held for sale	$	15,775	$	19,348
Accounts payable	$	1,697	$	1,207
Accrued compensation		612		439
Other accrued liabilities		135		109
Current liabilities held for sale	$	2,444	$	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
		March 31,
	2022
Net sales	$	4,230
Cost of goods sold		3,223
Gross profit		1,007
Selling, general and administrative expenses		1,264
Research and development expenses		137
Impairment on remeasurement or classification as held for sale		3,922
Loss from discontinued operations before other income		(4,316)
Other income		3
Loss from discontinued operations before income tax		(4,313)
Income tax (expense) benefit		1
Loss from discontinued operations, net of tax	$	(4,312)