DISPOSITIONS

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]


4.			DISPOSITIONS

Myers Disposition—On November 30, 2022, we entered into an agreement (the “Agreement”) and sold the Company’s 50% ownership interest in its partnership with Myers & Sons Construction L.P. (“Myers”) for $18,000 in cash. In accordance with the Myers Agreement’s payment terms, the Company received two payments totaling $14,000 in the first quarter of 2023, and two additional payments of $2,000 each are due by the end of 2025 and 2027, respectively. The disposition represented a strategic shift that had a major effect on our operations and consolidated financial results, and accordingly, the historical results of Myers have been presented as discontinued operations in our Consolidated Statements of Operations. Prior to being disclosed as a discontinued operation, the results of Myers were included within our Transportation Solutions segment.

The following table presents the components of net income from discontinued operations. The year ended December 31, 2022 represents the period ending November 30, 2022, the date of disposition.


	Years Ended December 31,
	2022		2021
Revenues	$	196,134	$	167,392
Cost of revenues	(192,886)		(156,167)
Gross profit	3,248		11,225
General and administrative expense	(13,751)		(9,353)

Other operating income (expense), net	3,158		(1,596)
Operating (loss) income	(7,345)		276


Net interest income (expense)	69		(30)
Gain on extinguishment of debt	2,428		968
Pretax (loss) income	(4,848)		1,214
Pretax gain on disposition	16,687		—
Total pretax income from Discontinued Operations	11,839		1,214
Income tax expense	(2,095)		(26)
Net income from Discontinued Operations	$	9,744	$	1,188

The following table presents the cash flows from discontinued operations. The year ended December 31, 2022 represents the period ending November 30, 2022, the date of disposition.


	Years Ended December 31,
Net cash provided by (used in):	2022		2021
Operating activities of Discontinued Operations	$	(7,334)	$	11,384
Investing activities of Discontinued Operations	(723)		(5,964)
Financing activities of Discontinued Operations	(81)		(1,908)
Net change in cash, cash equivalents, and restricted cash of Discontinued Operations	$	(8,138)	$	3,512