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Discontinued Operations | 12 Months Ended
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Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations During the third quarter of 2022, the Company sold its inertial navigation business. The Company determined that the sale met the requirements for reporting as discontinued operations in accordance with Accounting Standards Codification (ASC) 205-20. Please see Note 1 for further discussion. The following table presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operations to the amounts presented separately in the Company's consolidated balance sheet:
| December 31, 2021
Accounts receivable, net | $ | 5,882 |
Inventories, net | 8,807 |
Prepaid expenses and other current assets | 1,152 |
Current assets held for sale | $ | 15,841 |
Property and equipment, net | 7,169 |
Non-current assets held for sale | $ | 7,169 |
Accounts payable | 1,764 |
Accrued compensation and employee-related expenses | 914 |
Accrued other | 955 |
Accrued product warranty costs | 95 |
Contract liabilities | 211 |
Current liabilities held for sale | $ | 3,939 |
Other long-term liabilities | 8 |
Non-current liabilities held for sale | $ | 8 |
Net assets held for sale | 19,063 |
The following table presents a reconciliation of the major financial line items constituting the results for discontinued operations to the net income from discontinued operations, net of tax, presently separately in the Company's consolidated statements of operations (through August 9, 2022, the date the inertial navigation business was sold):
| Year Ended
| December 31,
| 2022 |  | 2021
Sales: |  |  |
Product | $ | 16,042 |  |  | $ | 36,858 |
Service | 679 |  |  | 998 |
Net sales | 16,721 |  |  | 37,856 |
Costs, expenses and other income, net: |  |  |
Costs of product sales | 12,732 |  |  | 22,859 |
Costs of service sales | 457 |  |  | 1,025 |
Research & development | 3,147 |  |  | 6,696 |
Sales, marketing and support | 3,035 |  |  | 5,627 |
Other income, net | 81 |  |  | 134 |
(Loss) income from discontinued operations before income tax expense | (2,569) |  |  | 1,783 |
Gain on sale of discontinued operations before tax expense | 30,763 |  |  | — |
Total income from discontinued operations before tax expense | $ | 28,194 |  |  | $ | 1,783 |
Income tax expense on discontinued operations | 169 |  |  | — |
Net income from discontinued operations, net of taxes | $ | 28,025 |  |  | $ | 1,783 |
Net income from discontinued operations per common share |  |  |
Basic and diluted | $ | 1.50 |  |  | $ | 0.10 |
Weighted average number of common shares outstanding: |  |  |
Basic and diluted | $ | 18,632 |  |  | $ | 18,217 |
The following table presents supplemental cash flow information of the discontinued operations:
| Year Ended |  |
| December 31, |  |
| 2022 |  | 2021 |  |
Cash (used in) provided by operating activities—discontinued operations | $ | (3,853) |  |  | $ | 3,416 |  |  |
Cash used in investing activities—discontinued operations | $ | (307) |  |  | $ | (824) |  |  |
The following table presents non-cash expenses from discontinued operations:
| Year Ended |  |
| December 31, |  |
| 2022 |  | 2021 |  |
Depreciation | $ | 622 |  |  | $ | 1,569 |  |  |
Compensation expense related to stock-based awards and employee stock purchase plan | $ | 475 |  |  | $ | 580 |  |  |
Provision for doubtful accounts | $ | 47 |  |  | $ | 28 |  |  |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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