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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Summary of Discontinued Operations
The following table provides a reconciliation of the individual discontinued operations to the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023.
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Income (loss) from discontinued operations, net of tax
Cab structures business$18,814 $2,130 $22,327 $7,060 
Industrial Automation segment(8,417)479 (10,739)(1,991)
Total income from discontinued operations, net of tax$10,397 $2,609 $11,588 $5,069 
The following tables present reconciliations of the captions within CVG's Condensed Consolidated Statements of Operations attributable to each discontinued operation for the three and nine months ended September 30, 2024 and 2023.
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Income (loss) from discontinued operations attributable to Cab structures business:
Revenues$24,795 $30,770 $89,187 $98,066 
Cost of revenues33,627 27,970 93,367 88,745 
Gross profit(8,832)2,800 (4,180)9,321 
Income (loss) before provision for income taxes(8,832)2,800 (4,180)9,321 
Provision (benefit) for income taxes of discontinued operations(425)670 714 2,261 
Gain on disposition of discontinued operations, net of income taxes27,221 — 27,221 — 
Net income from discontinued operations, net of income taxes$18,814 $2,130 $22,327 $7,060 
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Income (loss) from discontinued operations attributable to Industrial Automation segment:
Revenues$5,350 $13,020 $14,641 $31,777 
Cost of revenues5,185 11,205 15,107 30,278 
Gross profit165 1,815 (466)1,499 
Selling, general and administrative expenses747 1,087 3,009 3,588 
Operating income (loss)(582)728 (3,475)(2,089)
Interest expense64 125 201 398 
Income (loss) before provision for income taxes(646)603 (3,676)(2,487)
Provision (benefit) for income taxes of discontinued operations(38)124 (746)(496)
Loss on disposition of discontinued operations, net of income taxes(7,809)— (7,809)— 
Net income (loss) from discontinued operations, net of income taxes$(8,417)$479 $(10,739)$(1,991)

The following table presents the major classes of assets and liabilities of the Industrial Automation segment as of September 30, 2024, and of the cab structures and Industrial Automation segment as of December 31, 2023 that are classified as held for sale in the accompanying Condensed Consolidated Balance Sheets (in thousands).
September 30, 2024December 31, 2023
Account receivable, net4,964 4,603 
Inventories3,710 10,815 
Other current assets— 185 
Property, plant and equipment, net232 — 
Intangible assets, net3,093 — 
Other assets, net1,156 — 
Write-down loss on disposal group(8,204)— 
Current assets held for sale4,951 15,603 
Property, plant and equipment, net— 4,545 
Intangible assets, net— 4,628 
Other assets, net— 1,957 
Non current assets held for sale— 11,130 
Total assets held for sale$4,951 $26,733 
Accounts payable2,069 2,068 
Accrued liabilities and other2,067 1,208 
Other long-term liabilities115 — 
Current liabilities held-for-sale4,251 3,276 
Other long-term liabilities— 870 
Noncurrent liabilities held-for-sale— 870 
Total liabilities held for sale$4,251 $4,146 
The following tables present reconciliations of the captions within CVG's Condensed Consolidated Statements of Cash Flows attributable to discontinued operations for the nine months ended September 30, 2024 and 2023. Net cash provided by operating activities for the nine months ended September 30, 2024 includes the gain and loss on the respective transactions, as noted above.

Nine Months Ended September 30,
20242023
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash provided by (used in) operating activities(4,567)9,027 
Net cash provided by (used in) investing activities(838)(414)
Total cash provided by discontinued operations(5,405)8,613