Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

We expect to complete the sale of the AMECO equipment business, which is reported in Disc Ops, within the first half of 2021. The assets and liabilities of the AMECO business are classified as held for sale. During 2020, we recognized impairment expense of $146 million, of which $12 million related to goodwill, to reduce the AMECO assets to their fair value less cost to sell. The fair value of the AMECO assets were determined using a combination of observable level 2 inputs, including indicative offers and ongoing negotiations for the related assets.

In August 2020, we sold our AMECO equipment business in Jamaica for $18 million and recognized a loss of $1 million. The operations of the AMECO business in Jamaica were included in Disc Ops through the date of sale.

In August 2019, we settled legal matters related to a previously divested business. The resulting gain and all associated legal fees were included in "Other" in the tables below.

Disc Ops information follows:


	Year Ended December 31, 2020						Year Ended December 31, 2019						Year Ended December 31, 2018
(in thousands)	AMECO		Other		Total		AMECO		Other		Total		AMECO		Other		Total
Revenue	$	215,684	$	—	$	215,684	$	260,276	$	—	$	260,276	$	253,130	$	—	$	253,130
Cost of revenue	193,583		—		193,583		277,420		—		277,420		222,139		—		222,139
Corporate general and administrative expense	234		13,198		13,432		239		(21,152)		(20,913)		282		4,792		5,074
Impairment of assets held for sale	145,700		—		145,700		—		—		—		—		—		—
Interest expense (income), net	159		—		159		(341)		—		(341)		(354)		—		(354)
Total cost and expenses	339,676		13,198		352,874		277,318		(21,152)		256,166		222,067		4,792		226,859
Earnings (loss) before taxes from Disc Ops	(123,992)		(13,198)		(137,190)		(17,042)		21,152		4,110		31,063		(4,792)		26,271
Income tax expense (benefit)	3,957		—		3,957		(3,940)		4,447		507		6,900		(1,064)		5,836
Net earnings (loss) from Disc Ops	$	(127,949)	$	(13,198)	$	(141,147)	$	(13,102)	$	16,705	$	3,603	$	24,163	$	(3,728)	$	20,435

The following summarizes information related to assets and liabilities classified as held for sale:


	December 31, 2020						December 31, 2019
(in thousands)	AMECO	Other		Total from Discontinued Operations	Other Assets and Liabilities from Continuing Operations	Total	AMECO	Other		Total from Discontinued Operations	Other Assets and Liabilities from Continuing Operations	Total
Accounts and notes receivable, net	$41,988	$10,476		$52,464	$64	$52,528	$69,126	$15,925		$85,051	$17,513	$102,564
Contract assets	2,188	—		2,188	—	2,188	3,497	—		3,497	3,779	7,276
Other current assets	7,098	—		7,098	2,712	9,810	54,116	—		54,116	8,112	62,228
Current assets held for sale	51,274	10,476		61,750	2,776	64,526	126,739	15,925		142,664	29,404	172,068

Property, plant and equipment, net	113,080	—		113,080	41,160	154,240	232,792	—		232,792	64,792	297,584
Goodwill	—	—		—	—	—	12,338	—		12,338	9,295	21,633
Investments	—	—		—	5,063	5,063	—	—		—	7,293	7,293

Other assets	13,788	—		13,788	—	13,788	5,868	—		5,868	12,654	18,522
Noncurrent assets held for sale (1)	126,868	—		126,868	46,223	173,091	250,998	—		250,998	94,034	345,032
Total assets held for sale	$178,142	$10,476		$188,618	$48,999	$237,617	$377,737	$15,925		$393,662	$123,438	$517,100

Accounts payable	$17,355	$	13	$17,368	$75	$17,443	$24,692	$	—	$24,692	$6,702	$31,394
Contract liabilities	125	—		125	10	135	4,466	—		4,466	25	4,491
Accrued salaries, wages and benefits	6,042	—		6,042	98	6,140	8,913	—		8,913	919	9,832
Other accrued liabilities	11,780	—		11,780	327	12,107	9,451	—		9,451	11,562	21,013
Current liabilities held for sale	35,302	13		35,315	510	35,825	47,522	—		47,522	19,208	66,730

Noncurrent liabilities held for sale(1)	9,479	—		9,479	—	9,479	4,272	—		4,272	11,320	15,592
Total liabilities held for sale	$44,781	$13		$44,794	$510	$45,304	$51,794	$	—	$51,794	$30,528	$82,322

(1) Noncurrent assets and liabilities held for sale were classified as current as we expect to complete the sale of the AMECO businesses within the first half of 2021.

Our cash flow information for 2020, 2019 and 2018 included the following activities related to AMECO Disc Ops:


	Year Ended December 31,
(in thousands)	2020		2019		2018
Impairment expense - Disc Ops	$	145,700	$	—		$	—
Depreciation of fixed assets	—		44,295			72,137
Amortization of stock-based awards	56		123			103
Capital expenditures	(23,430)		(68,048)			(40,856)