Loss on Asset Sale (Tables)

9 Months Ended

Sep. 30, 2023

Loss on Asset Sale

Schedule of pre-tax loss on the sale of assets

For the fiscal year ended December 31, 2022, the Company recognized a pre-tax loss on the sale of Birch Benders of $51.3 million, calculated as follows:

(In thousands)
Cash received	$	40,000
Assets sold:
Inventory		(5,424)
Intangible assets, net		(85,867)
Total assets sold		(91,291)
Loss on asset sale	$	(51,291)