Note 12 - Discontinued Operations

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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

12. 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. The Company received net proceeds of approximately $4.2 million upon closing of the sale in May 2021.

The results of discontinued operations in 2021 were as follows:

	2021
	(in thousands)
Operating revenues	$	819
Operating costs and expenses		(995	)
Impairment loss		(40	)
Loss from discontinued operations	$	(216	)