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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Assets Held for Sale | The following table presents the aggregate carrying amounts of the classes of assets and liabilities of the Company's discontinued operations:
(in thousands) | June 30, 2024 |  | December 31, 2023
Carrying amounts of assets included as part of discontinued operations: |  |  |
Accounts receivable, net | $ | — |  |  | $ | 778 |
Prepaid expenses and other current assets | 65 |  |  | 83 |
Current assets classified as discontinued operations | 65 |  |  | 861 |
Carrying amounts of current liabilities included as part of discontinued operations: |  |  |
Accounts payable | 22 |  |  | 107 |
Accrued expenses and other current liabilities | 1,191 |  |  | 1,366 |
Total current liabilities classified as discontinued operations | $ | 1,213 |  |  | $ | 1,473 |
The financial results are presented as loss from discontinued operations, net of tax on the unaudited condensed consolidated statements of income (loss). The following table summarizes the results of the Company's discontinued operations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Net sales | $ | 19 |  |  | $ | 17,939 |  |  | $ | 261 |  |  | $ | 45,531 |
Cost of sales | 951 |  |  | 18,654 |  |  | 1,598 |  |  | 43,419 |
Gross profit | (932) |  |  | (715) |  |  | (1,337) |  |  | 2,112 |
Selling, general and administrative expense | (41) |  |  | 3,619 |  |  | 141 |  |  | 5,583 |
Acquisition costs and other | 30 |  |  | 4 |  |  | 119 |  |  | 78 |
Asset impairments | — |  |  | 6,388 |  |  | 1,115 |  |  | 6,388 |
Loss from discontinued operations before income taxes | (921) |  |  | (10,726) |  |  | (2,712) |  |  | (9,937) |
Income tax benefit | (193) |  |  | (2,239) |  |  | (585) |  |  | (2,039) |
Net loss from discontinued operations | $ | (728) |  |  | $ | (8,487) |  |  | $ | (2,127) |  |  | $ | (7,898) |
Munhall assets classified as held for sale as are as follows:
(in thousands) | June 30, 2024 |  | December 31, 2023
Property, plant and equipment, net | $ | 1,259 |  |  | $ | 2,374 |
Other assets, net | — |  |  | 538 |
Assets held for sale | $ | 1,259 |  |  | $ | 2,912 |

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