Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The carrying amounts of the assets and liabilities of the discontinued operations reclassified from their historical balance sheet presentation to assets and liabilities of businesses held for sale were as follows:

	December 31,
	2022		2021
Assets
Current assets:
Cash and cash equivalents	$	356	$	23
Accounts receivable, net	9,808		9,601
Inventories, net	11,633		11,720
Prepaid expenses and other current assets	1,710		3,447
Property and equipment, net	—		28,809
Right of use asset, net	—		3,740
Goodwill and intangible assets, net	—		7,267
Total assets of businesses held for sale	$	23,507	$	64,607
Liabilities
Current liabilities:
Accounts payable	$	9,743	$	15,220
Current lease liability	1,890		591
Current maturities of long-term debt	3,194		80
Accrued expenses and other liabilities	1,614		1,163
Long-term debt	—		135
Long-term lease liability	—		2,002
Total liabilities of businesses held for sale	$	16,441	$	19,191

As of December 31, 2022 and 2021, the fair value of the debt included in the liabilities of business held for sale was $3,305 and $214, respectively. Fair values are based upon valuation models using market information, which fall into Level 3 in the fair value hierarchy. The Company capitalized $1,236, $1,320 and $215 of interest costs into property and equipment during the years ended December 31, 2022, 2021 and 2020, respectively.

The operating results of the discontinued operations, net of tax, were as follows:

	Year Ended December 31,
	2022		2021		2020
Revenues	$	61,521	$	56,267	$	55,278
Cost of sales	58,744		51,311		48,009
Gross profit	2,777		4,956		7,269
Operating expenses:
Research and development	22		4		—
Selling, general and administrative expenses	9,168		9,605		7,980
Impairment	11,579		—		1,878
Total operating expenses	20,769		9,609		9,858
Loss from discontinued operations	(17,992)		(4,653)		(2,589)
Interest expense	33		9		154
Other expense (income), net	10,179		(615)		(104)
Net loss before income tax	(28,204)		(4,047)		(2,639)
Income tax expense	1		—		—
Net loss from discontinued operations, net of tax	$	(28,205)	$	(4,047)	$	(2,639)

Depreciation, amortization and significant operating and investing items in the Consolidated Statement of Cash Flows for the discontinued operations are as follows:

	Year Ended December 31,
	2022		2021		2020
Operating activities
Depreciation and amortization	$	2,323	$	2,339	$	1,428
Bad debt expense	122		341		44
Impairment	11,579		—		1,878
Net loss on divestiture	10,246		—		—
Investing activities
Payments for acquisitions of property and equipment	(9,503)		(23,941)		(885)
Proceeds from divestiture	17,131		—		—