| Summary of Disposal Groups Including Discontinued Operations |
Statement of Operations – A summary of the operating results constituting the loss from discontinued operations for the three and nine months ended September 30, 2021 and 2020, is as follows (in thousands):
|
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
|
|
Revenue
|
|
$
|
—
|
|
|
$
|
29,563
|
|
|
$
|
41,637
|
|
|
$
|
98,425
|
|
|
Cost of revenue
|
|
|
—
|
|
|
|
36,745
|
|
|
|
33,912
|
|
|
|
106,368
|
|
|
Gross profit (loss)
|
|
|
—
|
|
|
|
(7,182
|
)
|
|
|
7,725
|
|
|
|
(7,943
|
)
|
|
General and administrative expense
|
|
|
—
|
|
|
|
324
|
|
|
|
413
|
|
|
|
1,109
|
|
|
Impairments and (gain) loss on assets held for sale, net
|
|
|
—
|
|
|
|
—
|
|
|
|
25,331
|
|
|
|
—
|
|
|
Other (income) expense, net
|
|
|
—
|
|
|
|
529
|
|
|
|
(647
|
)
|
|
|
629
|
|
|
Operating loss
|
|
|
—
|
|
|
|
(8,035
|
)
|
|
|
(17,372
|
)
|
|
|
(9,681
|
)
|
|
Income tax (expense) benefit(1)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Loss from discontinued operations, net of taxes
|
|
$
|
—
|
|
|
$
|
(8,035
|
)
|
|
$
|
(17,372
|
)
|
|
$
|
(9,681
|
)
|
|
|
(1)
|
Income taxes attributable to discontinued operations were not material for all periods presented.
|
Assets and Liabilities – A summary of the carrying values of the major classes of assets and liabilities of discontinued operations at September 30, 2021 and December 31, 2020, is as follows (in thousands):
|
|
|
September 30,
2021
|
|
|
December 31,
2020
|
|
|
Current assets of discontinued operations:
|
|
|
|
|
|
|
|
|
|
Contract receivables and retainage, net
|
|
$
|
—
|
|
|
$
|
1,304
|
|
|
Contract assets
|
|
|
—
|
|
|
|
62,423
|
|
|
Prepaid expenses and other assets
|
|
|
—
|
|
|
|
270
|
|
|
Inventory
|
|
|
—
|
|
|
|
105
|
|
|
Assets held for sale
|
|
|
—
|
|
|
|
2,014
|
|
|
Total current assets of discontinued operations
|
|
$
|
—
|
|
|
$
|
66,116
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncurrent assets of discontinued operations:
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net
|
|
$
|
—
|
|
|
$
|
36,280
|
|
|
Other noncurrent assets
|
|
|
—
|
|
|
|
2,889
|
|
|
Total noncurrent assets of discontinued operations
|
|
$
|
—
|
|
|
$
|
39,169
|
|
|
|
|
September 30,
2021
|
|
|
December 31,
2020
|
|
|
Current liabilities of discontinued operations:
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
27
|
|
|
$
|
57,752
|
|
|
Contract liabilities
|
|
|
—
|
|
|
|
4,867
|
|
|
Accrued expenses and other liabilities
|
|
|
149
|
|
|
|
988
|
|
|
Total current liabilities of discontinued operations
|
|
$
|
176
|
|
|
$
|
63,607
|
|
Cash Flows – A summary of the cash flows of discontinued operations for the nine months ended September 30, 2021 and 2020, is as follows (in thousands):
|
|
|
Nine Months Ended
September 30,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
Operating cash flows from discontinued operations
|
|
$
|
(9,067
|
)
|
|
$
|
(5,677
|
)
|
|
Investing cash flows from discontinued operations
|
|
$
|
31,424
|
|
|
$
|
(6,144
|
)
|
|