15. On February 1, 2019, the Company and certain of its subsidiaries sold substantially all of the real property, tangible personal property and executory contracts of TMC’s ready-mix business and the operations of Daniels Sand Company (Daniels) to Aggregate Industries — WCR, Inc. (the Buyer), a Colorado corporation for $27,129,000. The purchase price was paid to the Company on February 1, 2019 less certain amounts to be held in escrow, as provided in the Asset Purchase Agreement among the Company parties and the Buyer (Purchase Agreement), to secure the Company’s obligations to pay its working capital adjustment and indemnification obligations under the Purchase Agreement. The escrow also retained amounts to be held pending the subdivision of certain real property to be sold to the Buyer at a subsequent date as included in the Purchase Agreement. Combined escrow amounts of $2,049,000 were included in Other current assets in the Consolidated Balance Sheet at June 29, 2019.

The Company retained the aggregates operations and retail building materials business of TMC and all related assets and liabilities. These operations include the Pikeview quarry business located in Colorado Springs, the aggregates mining business located in Pueblo, the sand and gravel mining business located in Fremont County, and the retail building materials business at sites located in Colorado Springs and Pueblo.

In the quarter ended March 30, 2019, the Company recorded a $6,508,000 pre-tax gain on the sale of TMC assets. During the quarter ending June 29, 2019 the working capital adjustment was finalized and resulted in the Company paying a net $1,248,000 to the Buyer. This adjustment, plus an adjustment to transaction fees, reduced the pre-tax gain on the sale to $5,283,000. The operations of the ready-mix and Daniels sand businesses were classified as discontinued operations and assets held for sale for all periods presented. General corporate overhead charges were not allocated to discontinued operations. Revenue, expenses and pre-tax income reclassified to discontinued operations were as follows (amounts in thousands):


	Three Months ended				Six Months Ended
	JUNE 29,		JUNE 30,		JUNE 29,		JUNE 30,
	2019		2018		2019		2018
Revenue	$	-	$	17,743	$	4,058	$	31,206
Costs and expenses		-		15,512		3,900		28,452
Depreciation, depletion and amortization		-		302		578		573
Selling and administrative		-		890		304		1,811
Gain on sales of equipment		-		889		-		889
(Loss) gain on sale of assets		(1,225)		-		5,283		-
Pre-tax (loss) income	$	(1,225)	$	1,928	$	4,559	$	1,259

The results of discontinued operations are summarized as follows:


	Three Months ended				Six Months Ended
	JUNE 29,		JUNE 30,		JUNE 29,		JUNE 30,
	2019		2018		2019		2018
Operating income (loss)	$	-	$	1,928	$	(724)	$	1,259
(Loss) gain on sale of assets		(1,225)		—		5,283		—
Income tax (benefit) provision		(307)		482		1,255		315
Loss (income) from discontinued operations	$	(918)	$	1,446	$	3,304	$	944

The assets and liabilities held for sale related to TMC’s ready-mix and Daniels sand businesses were as follows:


	JUNE 29,		DECEMBER 29,
	2019		2018
Accounts receivable, net	$	—	$	9,054
Inventory		—		1,914
Property, plant and equipment, net		—		6,741
Other assets		—		6,327
Total assets held for sale	$	—	$	24,036

Accounts payable and accrued expenses	$		$	3,800
Other long-term liabilities		—		292
Total liabilities held for sale	$	—	$	4,092