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

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

Loss from discontinued operations, net of tax and the loss on the sale of discontinued operations, net of tax, of the Asia business, which is presented in total in the Unaudited Condensed Consolidated Statement of Comprehensive Income (Loss) for the three and nine months ended September 30, 2024 and 2023, respectively, are as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net revenue	$	—	$	26,711	$	25,502	$	81,882
Cost of revenue	—		23,743		21,069		66,639
Gross profit	—		2,968		4,433		15,243
Operating expenses	—		6,974		7,730		26,858
Operating loss from discontinued operations	—		(4,006)		(3,297)		(11,615)
Interest expense, net	—		(259)		(981)		(588)
Other income, net	—		916		959		1,418
Loss from discontinued operations before income taxes	—		(3,349)		(3,319)		(10,785)
Income tax provision (benefit)	—		1,279		—		(142)
Loss on sale of discontinued operations	—		—		2,803		—
Net loss from discontinued operations	$	—	$	(4,628)	$	(6,122)	$	(10,643)

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 December 31, 2023 (in thousands).

	December 31, 2023
Assets
Current assets:
Cash, cash equivalents and restricted cash	$	5,657
Accounts receivable - trade, net of allowance for credit losses	25,661
Other receivables	12,765
Inventories	49,114
Prepaid expenses and other current assets	1,178
Total current assets of discontinued operations	94,375
Property, plant and equipment, net	2,615
Right-of-use assets from operating leases	3,475
Intangible assets, net	419
Other assets	1,299
Total assets of discontinued operations	$	102,183
Liabilities
Current liabilities:
Accounts payable - trade	$	37,911
Short-term debt – bank, trade facilities and secured borrowings	19,633
Contract liabilities	1,041
Operating lease liabilities	1,858
Accrued and other liabilities	8,984
Total current liabilities of discontinued operations	69,427
Long-term debt	30,600
Contract liabilities - non-current	878
Operating lease liabilities - non-current	1,617
Other long-term liabilities	479
Total liabilities of discontinued operations	$	103,001