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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 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 |
Goodwill | 736 |
Other noncurrent assets | 2,049 |
Total 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:
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Contract revenue | $ | 66,540 |  |  | $ | 139,109 |  |  | $ | 93,448 |
Contract cost of sales | (60,218) |  |  | (126,745) |  |  | (82,372) |
Operating income from discontinued operations | 6,322 |  |  | 12,364 |  |  | 11,076 |
General and administrative expense | (693) |  |  | (353) |  |  | (49) |
Other expense, net | — |  |  | (4) |  |  | (156) |
Gain on sale of discontinued operations | 81,190 |  |  | — |  |  | — |
Income from discontinued operations before provision for income taxes | 86,819 |  |  | 12,007 |  |  | 10,871 |
Provision for income taxes | (1,896) |  |  | (140) |  |  | (118) |
Net income from discontinued operations | $ | 84,923 |  |  | $ | 11,867 |  |  | $ | 10,753 |
The following table presents select non-cash operating and investing activities related to cash flows from discontinued operations:
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Depreciation and amortization | $ | 200 |  |  | $ | 467 |  |  | $ | 452 |
Capital expenditures | 233 |  |  | 499 |  |  | 226 |
Stock-based compensation | 1,004 |  |  | 136 |  |  | 165 |

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