Businesses or asset groups are reported as discontinued operations when the Company commits to a plan to divest the business or group and the sale of the business or asset group is deemed probable within the next twelve months. Further, the disposal must represent a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. In the fourth quarter, the management team proposed, and the Board of Directors approved, a plan to sell the Company’s historical environmental & infrastructure business. The Company has retained a financial advisor to assist with the process and expects to finalize disposition of the environmental & infrastructure business in the first half of 2019. The disposal group of the historical environmental & infrastructure business has therefore been classified as discontinued operations and assets and liabilities held for sale for all periods presented.

Included in the results of discontinued operations for the year ended December 31, 2018 is a provision of $14,110 to reduce the net assets of the historical environmental & infrastructure business to fair value less costs to sell. Fair values were determined using expected sales terms and an evaluation of working capital. The loss on disposition of assets held for sale is subject to change prior to completion of the disposition and could differ materially from the Company’s estimate.

To the extent the Company incurs liabilities for exit costs, including severance, other employee benefit costs and operating lease obligations, the liabilities will be measured at fair value and recorded when incurred.

The results of the business have been reported in discontinued operations as follows:

		2018			2017			2016
Revenue	$	76,843		$	112,607		$	133,637

Loss before income taxes from discontinued operations	$	(9,361	)	$	(25,944	)	$	(14,334	)
Preliminary loss on disposal of assets held for sale		(14,110	)		—			—
Income tax benefit		6,162			10,052			5,615
Loss from discontinued operations, net of income taxes	$	(17,309	)	$	(15,892	)	$	(8,719	)

The major classes of assets and liabilities of businesses reported as discontinued operations are shown below:

		2018			2017
Assets:
Accounts receivable—net	$	13,943		$	23,593
Contract revenues in excess of billings		9,971			12,881
Other current assets		865			1,943
Assets held for sale	$	24,779		$	38,417

Property and equipment—net		6,612			10,369
Goodwill		7,000			7,000
Other intangible assets—net		372			907
Other assets		1,699			2,825
Reserve for loss on disposal		(14,110	)		—
Assets held for sale—noncurrent	$	1,573		$	21,101

Liabilities:
Accounts payable	$	8,343		$	22,505
Accrued expenses		4,380			4,292
Other current liabilities		1,217			2,576
Liabilities held for sale		13,940			29,373

Other liabilities		146			773
Liabilities held for sale—noncurrent	$	146		$	773

On April 23, 2014, the Company entered into an agreement and completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two former subsidiaries that comprised the historical demolition business. Under the terms of the agreement, the Company received cash of $5,309 and retained the right to receive additional proceeds based upon future collections of outstanding accounts receivable and work in process existing at the date of close, including recovery of outstanding claims for additional compensation from customers, and net of future payments of accounts payable existing at the date of close, including any future payments of obligations associated with outstanding claims. The amount and timing of the working capital settlement and the amount and timing of the realization of additional net proceeds may be impacted by the litigation with the buyer of the historical demolition business (see Note 12, Commitment and Contingencies). However, management believes that the ultimate resolution of these matters will not be material to the Company’s consolidated financial position or results of operations.

As discussed in Note 12, Commitments and Contingencies, the Company was notified by Zurich of an alleged default triggered on a historical demolition surety performance bond in the aggregate of approximately $20,000 for failure of the contractor to perform in accordance with the terms of a project. Zurich could be obligated to reimburse the loss, damage and expense that may arise from the alleged default. The Company estimated its exposure to a surety bond claim, including associated expense to be $20,900 and has recorded this amount in discontinued operations for the year ended December 31, 2017.