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Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Group, Including Discontinued Operations
March 31,
2026
December 31,
2025
Assets of the discontinued operations:
Trade receivables, net$43,142 $56,382 
Costs in excess of billings, net14,772 19,390 
Inventories, net26,164 30,954 
Prepaid expenses and other current assets5,884 4,540 
Property, plant, and equipment, net20,562 21,446 
Operating lease assets3,932 5,084 
Goodwill152,215 184,230 
Acquired intangibles46,026 46,303 
Impairment and remeasurement adjustments(223,414)(175,967)
Total assets classified as discontinued operations (1)$89,283 $192,362 
Liabilities of the discontinued operations:
Accounts payable$23,574 $28,320 
Accrued expenses51,397 27,135 
Billings in excess of costs34,462 34,202 
Non-current operating lease liabilities2,879 3,463 
Total liabilities classified as discontinued operations (1)$112,312 $93,120 
(1) Total held for sale assets and liabilities of the discontinued operations are classified as current on the March 31, 2026 and December 31, 2025 consolidated balance sheets as it is probable that the sale will occur and proceeds will be collected within one year from the date the Company committed to the plan to sell.
At March 31, 2026, accrued expenses included within total liabilities classified as discontinued operations included amounts attributable to certain unresolved warranty claims related to the discontinued operation which had been disputed by the Company. The Company has reached an agreement to settle these warranty claims in the amount of $25.0 million. The Company expects the settlement to be paid during the second quarter of 2026.
The following table is the components of the loss before taxes from discontinued operations before tax (in thousands):
Three Months Ended
March 31,
20262025
Net sales$49,386 $43,658 
Operating expenses83,540 46,803 
Remeasurement adjustment47,447 — 
Other (income) expenses, net(21,730)18 
Loss before taxes from discontinued operations$(59,871)$(3,163)