Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Carrying Amount of Net Assets Classified as Held for Sale

The following table presents the major classes of assets and liabilities of discontinued operations for PGSC and RRC as of December 31, 2023 and RRC as of June 30, 2024:

(in thousands)	June 30, 2024		December 31, 2023
Accounts receivable – net	$	5,262	$	20,703
Other current assets	1,120		987
Total current assets	6,382		21,690
Noncurrent assets	839		2,785
Total assets of discontinued operations	$	7,221	$	24,475
Accounts payable	—		4,209
Accrued salaries and benefits	1,284		5,013
Accrued expenses	724		6,910
Other current liabilities	25		246
Total current liabilities	2,033		16,378
Noncurrent liabilities	—		1,710
Total liabilities of discontinued operations	$	2,033	$	18,088

The following table presents the major categories of income from discontinued operations:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2024		2023		2024		2023
Contract revenue	$	31,116	$	31,015	$	66,540	$	62,868
Contract cost of sales	(28,185)		(28,778)		(60,218)		(57,464)
Operating income from discontinued operations	2,931		2,237		6,322		5,404
General and administrative expense	449		(14)		(870)		(13)
Other expense, net	(6)		(60)		—		(110)
Gain on sale of discontinued operations	76,754		—		76,754		—
Income from discontinued operations before provision for income taxes	80,128		2,163		82,206		5,281
Provision for income taxes	(2,351)		(26)		(2,351)		(26)
Net income from discontinued operations	$	77,777	$	2,137	$	79,855	$	5,255

The following table presents selected non-cash operating and investing activities related to cash flows from discontinued operations:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2024		2023		2024		2023
Depreciation and amortization	$	84	$	116	$	200	$	231
Capital expenditures	106		84		233		214
Stock-based compensation	906		14		954		61