DISPOSITIONS

12 Months Ended

Dec. 31, 2024

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.


	Year Ended December 31, 2022
Revenues	$	196,134
Cost of revenues	(192,886)
Gross profit	3,248
General and administrative expense	(13,751)
Other operating income (expense), net	3,158
Operating (loss) income	(7,345)


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

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.


	Year Ended December 31, 2022
Net cash provided by (used in):
Operating activities of Discontinued Operations	$	(7,334)
Investing activities of Discontinued Operations	(723)
Financing activities of Discontinued Operations	(81)
Net change in cash, cash equivalents, and restricted cash of Discontinued Operations	$	(8,138)