Note 9 - Discontinued Operations

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

9. DISCONTINUED OPERATIONS

In December 2019, the Company entered into an Asset Purchase Agreement to sell the Public Utilities Commission (“PUC”) regulated assets of Kapalua Water Company, Ltd. and Kapalua Waste Treatment Company, Ltd. located in the Kapalua Resort, subject to certain closing conditions, including PUC approval.

In March 2021, the sale was approved by the PUC subject to certain closing conditions of its Decision and Order. The Company received net proceeds of approximately $4.2 million upon closing of the sale in May 2021.

The results related to the operation of these assets have been reported as discontinued operations in 2021 and 2020 as follows:

	2021			2020
	(in thousands)
Operating revenues	$	819		$	2,646
Operating costs and expenses		(995	)		(2,787	)
Impairment loss		(40	)		(196	)
Loss from discontinued operations	$	(216	)	$	(337	)