Discontinued Operations (Tables)

6 Months Ended

Aug. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The results of operations from discontinued operations for the three and six months ended August 31, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands):

	Three Months Ended			Six Months Ended
		August 31, 2022		August 31, 2022
Sales		$	106,660	$	213,924
Cost of sales		84,826		167,686
Gross margin		21,834		46,238
Selling, general and administrative		9,710		22,114
Loss on disposal of discontinued operations		114,900		114,900
Operating loss from discontinued operations		(102,776)		(90,776)
Interest expense		5		6
Other (income) expense, net		3,443		4,268
Loss from discontinued operations before income tax		(106,224)		(95,050)
Income tax benefit		(23,534)		(21,072)
Net loss from discontinued operations		$	(82,690)	$	(73,978)
Loss per common share from discontinued operations:
Basic loss per share		$	(3.33)	$	(2.99)
Diluted loss per share		$	(2.85)	$	(2.70)

The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands):

	Six Months Ended August 31, 2022
Depreciation and amortization	$	6,248
Purchase of property, plant and equipment	2,878
Loss on discontinued operations	(114,900)

The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and six months ended August 31, 2022 (in thousands):

	Three Months Ended		Six Months Ended
	August 31, 2022		August 31, 2022
Income from discontinued operations before income taxes	$	8,676	$	19,850
Income tax (expense) benefit	(1,939)		(4,401)
Income from discontinued operations, net of tax	$	6,737	$	15,449
Loss on disposal of discontinued operations	$	(114,900)	$	(114,900)
Income tax benefit	25,473		25,473
Loss on disposal of discontinued operations, net of tax	$	(89,427)	$	(89,427)