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Held for Sale and Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Group, Including Discontinued Operations | The following table summarizes these assets and liabilities which have been measured at the lower of (i) the carrying value when classified as held for sale and (ii) the fair value of the business less costs to sell.
(in thousands) |  | March 31, 2022
Assets held for sale |  |
Accounts receivable, net of allowance |  | $ | 1,260 |
Inventories, net of reserves |  | 8,093 |
Other current assets |  | 1,627 |
Property, plant, and equipment, net |  | 331 |
Operating lease asset |  | 415 |
Goodwill (1) |  | — |
Acquired intangibles, net |  | 6,213 |
Total assets held for sale |  | $ | 17,939 |
Liabilities held for sale |  |
Accounts payable |  | $ | 1,291 |
Accrued expenses |  | 1,172 |
Non-current operating lease liabilities |  | 172 |
Total liabilities held for sale |  | $ | 2,635 |
(1) The assignment of goodwill was based on the relative fair value of the disposal group compared to the fair value of the total reporting unit it was included in prior to being reclassified as held for sale. Net sales and operating loss for held for sale operations for the three months ended March 31 are as follows (in thousands):
| 2022 | 2021
Net sales | $ | 1,823 |  | $ | 4,973 |
Operating loss | $ | (2,525) |  | $ | (749) |
Components of income from discontinued operations before taxes, including the interest allocated to discontinued operations, for the three months ended March 31 are as follows (in thousands):
| Three months ended March 31, |  |  |  |  |  |
| 2022 |  | 2021 |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 20,391 |  |  |  |  |  |  |  |  |
Operating expenses | — |  |  | 17,493 |  |  |  |  |  |  |  |  |
Adjustment to loss on disposal | — |  |  | 328 |  |  |  |  |  |  |  |  |
Income from discontinued operations before taxes | $ | — |  |  | $ | 2,570 |  |  |  |  |  |  |  |  |

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