Assets and Liabilities Held for Sale and Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

Loss from discontinued operations, net of tax, of the Asia business, which is presented in total in the Unaudited Condensed Consolidated Statement of Comprehensive Loss for the three months ended March 31, 2024, and 2023, respectively, are as follows:

	Three Months Ended March 31,
	2024		2023
Net revenue	$	25,324	$	25,446
Cost of revenue	21,201		20,116
Gross profit	4,123		5,330
Operating expenses	8,801		10,452
Operating loss from discontinued operations	(4,678)		(5,122)
Interest expense, net	(981)		(168)
Other income, net	959		247
Loss from discontinuing operations before income taxes	(4,700)		(5,043)
Income tax provision (benefit)	471		(1,261)
Net loss from discontinued operations	$	(5,171)	$	(3,782)

The following table presents the amounts reported in the Unaudited Condensed Consolidated Balance Sheets as held for sale related to the APAC assets as of March 31, 2024, and December 31, 2023, respectively.

	March 31, 2024		December 31, 2023
Assets
Current assets:
Cash, cash equivalents and restricted cash	$	3,812	$	5,657
Accounts receivable - trade, net of allowance for doubtful accounts	29,435		25,661
Other receivables	10,121		12,765
Inventories	44,172		49,114
Prepaid expenses and other current assets	1,838		1,178
Total current assets of discontinued operations	89,378		94,375
Property, plant and equipment, net	2,185		2,615
Right-of-use assets from operating leases	2,819		3,475
Intangible assets, net	419		419
Other assets	1,151		1,299
Total assets of discontinued operations	$	95,952	$	102,183
Liabilities
Current liabilities:
Accounts payable - trade	$	30,450	$	37,911
Short-term debt – bank, trade facilities and secured borrowings	25,622		19,633
Contract liabilities	785		1,041
Operating lease liabilities	1,595		1,858
Accrued and other liabilities	12,752		8,984
Total current liabilities of discontinued operations	71,204		69,427
Long-term debt	29,457		30,600
Contract liabilities - non-current	721		878
Operating lease liabilities - non-current	1,219		1,617
Other long-term liabilities	452		479
Total liabilities of discontinued operations	$	103,053	$	103,001