Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of discontinued operation income statement

The following table summarizes the results of the GES Business presented within discontinued operations in the Condensed Consolidated Statements of Operations:


	Three Months Ended
(in thousands, except per share data)	March 31, 2024
Revenue:
Services	$	197,946
Products		38,320
Total revenue		236,266
Costs and expenses:
Cost of services		188,439
Cost of products		32,432
Interest expense, net		8,923
Other expense, net		128
Restructuring charges		116
Total costs and expenses		230,038
Income from discontinued operations before income taxes		6,228
Income tax expense		2,541
Income from discontinued operations of the GES Business	$	3,687
Loss from discontinued operations of previously sold operations		(67	)
Income from discontinued operations	$	3,620

(1)

On December 31, 2024, in connection with the sale of the GES Business, we terminated and repaid in full all outstanding obligations (approximately $393 million) due under our previous $500 million credit facility with Bank of America, N.A. as administrative agent (the “2021 Credit Facility”) and all related liens and security interests were terminated, discharged and released. In accordance with Accounting Standards Codification (“ASC”) 205-20, Presentation of Financial Statements – Discontinued Operations, we elected to allocate interest expense to discontinued operations for the 2021 Credit Facility and the related debt issuance costs that were not directly attributable to the GES Business. All of the interest expense and related debt issuance costs of the $400 million term loan were allocated to discontinued operations, and interest expense and debt issuance costs related to the $170 million revolving credit facility were allocated based on a ratio of net assets of the GES Business to the sum of our consolidated net assets and consolidated debt. We allocated interest expense to discontinued operations of $9.1 million during the three months ended March 31, 2024.