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Discontinued Operations | 12 Months Ended
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Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | 4. Discontinued Operations On August 17, 2021, the Company sold its Oxford business to an affiliate of H.I.G. Capital for $525.0 million. The gain on the sale was $216.9 million ($168.8 million net of income taxes). The sale of the Oxford business was a strategic shift that provided for the redeployment of capital on acquisitions of businesses that enhance the Company's IT consulting capabilities and services in the commercial and federal government sectors. As a result of the sale, the financial results of the Oxford business are reported as discontinued operations in the accompanying consolidated statements of operations and comprehensive income. The Company's reporting segments were retrospectively changed in 2021 for the effects of the sale. There were no significant operating results from discontinued operations in 2023 and 2022. The following table summarizes the results of operations of the Oxford business that are reported as discontinued operations (in millions).
| Year Ended December 31, |  |  |  |
| 2021 |  |  |  |
Revenues | $ | 324.3 |  |  |  |  |
Costs of services | 223.0 |  |  |  |  |
Gross profit | 101.3 |  |  |  |  |
Selling, general, and administrative expenses | 90.1 |  |  |  |  |
Amortization of intangible assets | 0.4 |  |  |  |  |
Income before income taxes | 10.8 |  |  |  |  |
Provision for income taxes | 1.5 |  |  |  |  |
Gain on sale, net of income taxes | 168.8 |  |  |  |  |
Income from discontinued operations, net of income taxes | $ | 178.1 |  |  |  |  |
During 2022, the Company received $9.8 million cash related to the finalization of the purchase price. The following table provides select cash flow information related to the Oxford business (in millions):
| Year Ended December 31,
| 2021
Net cash provided by (used in) operating activities | $ | (84.0) |
Net cash provided by (used in) investing activities |
Cash received from sale of discontinued operations | 503.8 |
Other | (3.9) |
| $ | 499.9 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
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