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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Carrying Amount of Net Assets Classified as Held for Sale | The following table presents the major classes of assets and liabilities of discontinued operations for PGSC and RRC as of December 31, 2023 and RRC as of June 30, 2024:
(in thousands) | June 30, 2024 |  | December 31, 2023
Accounts receivable – net | $ | 5,262 |  |  | $ | 20,703 |
Other current assets | 1,120 |  |  | 987 |
Total current assets | 6,382 |  |  | 21,690 |
Noncurrent assets | 839 |  |  | 2,785 |
Total assets of discontinued operations | $ | 7,221 |  |  | $ | 24,475 |
Accounts payable | — |  |  | 4,209 |
Accrued salaries and benefits | 1,284 |  |  | 5,013 |
Accrued expenses | 724 |  |  | 6,910 |
Other current liabilities | 25 |  |  | 246 |
Total current liabilities | 2,033 |  |  | 16,378 |
Noncurrent liabilities | — |  |  | 1,710 |
Total liabilities of discontinued operations | $ | 2,033 |  |  | $ | 18,088 |
The following table presents the major categories of income from discontinued operations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Contract revenue | $ | 31,116 |  |  | $ | 31,015 |  |  | $ | 66,540 |  |  | $ | 62,868 |
Contract cost of sales | (28,185) |  |  | (28,778) |  |  | (60,218) |  |  | (57,464) |
Operating income from discontinued operations | 2,931 |  |  | 2,237 |  |  | 6,322 |  |  | 5,404 |
General and administrative expense | 449 |  |  | (14) |  |  | (870) |  |  | (13) |
Other expense, net | (6) |  |  | (60) |  |  | — |  |  | (110) |
Gain on sale of discontinued operations | 76,754 |  |  | — |  |  | 76,754 |  |  | — |
Income from discontinued operations before provision for income taxes | 80,128 |  |  | 2,163 |  |  | 82,206 |  |  | 5,281 |
Provision for income taxes | (2,351) |  |  | (26) |  |  | (2,351) |  |  | (26) |
Net income from discontinued operations | $ | 77,777 |  |  | $ | 2,137 |  |  | $ | 79,855 |  |  | $ | 5,255 |
The following table presents selected non-cash operating and investing activities related to cash flows from discontinued operations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation and amortization | $ | 84 |  |  | $ | 116 |  |  | $ | 200 |  |  | $ | 231 |
Capital expenditures | 106 |  |  | 84 |  |  | 233 |  |  | 214 |
Stock-based compensation | 906 |  |  | 14 |  |  | 954 |  |  | 61 |

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