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Discontinued Operations (Tables) | 9 Months Ended
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Sep. 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:
(in thousands) |  |  | December 31, 2023
Accounts receivable – net |  |  | $ | 20,703 |
Other current assets |  |  | 987 |
Total current assets |  |  | 21,690 |
Noncurrent assets |  |  | 2,785 |
Total assets of discontinued operations |  |  | $ | 24,475 |
Accounts payable |  |  | 4,209 |
Accrued salaries and benefits |  |  | 5,013 |
Accrued expenses |  |  | 6,910 |
Other current liabilities |  |  | 246 |
Total current liabilities |  |  | 16,378 |
Noncurrent liabilities |  |  | 1,710 |
Total liabilities of discontinued operations |  |  | $ | 18,088 |
The following table presents the major categories of income from discontinued operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Contract revenue | $ | — |  |  | $ | 38,433 |  |  | $ | 66,540 |  |  | $ | 101,301 |
Contract cost of sales | — |  |  | (34,506) |  |  | (60,218) |  |  | (91,970) |
Operating income from discontinued operations | — |  |  | 3,927 |  |  | 6,322 |  |  | 9,331 |
General and administrative expense | 177 |  |  | (67) |  |  | (693) |  |  | (80) |
Other expense, net | — |  |  | (111) |  |  | — |  |  | (221) |
Gain on sale of discontinued operations | 451 |  |  | — |  |  | 77,205 |  |  | — |
Income from discontinued operations before provision for income taxes | 628 |  |  | 3,749 |  |  | 82,834 |  |  | 9,030 |
Benefit from (provision for) income taxes | 204 |  |  | (31) |  |  | (2,147) |  |  | (57) |
Net income from discontinued operations | $ | 832 |  |  | $ | 3,718 |  |  | $ | 80,687 |  |  | $ | 8,973 |
The following table presents select non-cash operating and investing activities related to cash flows from discontinued operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation and amortization | $ | — |  |  | $ | 116 |  |  | $ | 200 |  |  | $ | 347 |
Capital expenditures | — |  |  | 156 |  |  | 233 |  |  | 370 |
Stock-based compensation | 50 |  |  | 37 |  |  | 1,004 |  |  | 98 |

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