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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 On October 31, 2022, the Company entered into a sales agreement and closed on the sale of its Brazil Operations. The Company believes that the sale of the Brazil Operations meets the criteria for discontinued operations presentation within the Consolidated Financial Statements at December 31, 2022, as the decision to exit these operations represents a strategic shift of the future operations of the Company with separately reported financial information available as the Brazil Operations represent substantially all of the revenue and expenses of the Company's previously reported Power Delivery segment. Accordingly, such assets and liabilities at December 31, 2022, results of operations for the year ended December 31, 2022 and cash flows for the year ended December 31, 2022 have been classified as discontinued operations on our Consolidated Balance Sheet, Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. The classification of these assets, liabilities, results of operations and cash flows as discontinued operations requires retrospective application to financial information for all prior periods presented. Accordingly, the Consolidated Financial Statements and related notes have been updated to separately state the assets and liabilities, revenues and expenses and cash flows between its continuing operations and the discontinued operations as of and for all periods presented. Corporate allocations of and $0.1 million previously reported within the Company's Power Delivery segment have been excluded from discontinued operations for the year ended December 31, 2021. Included within the Company's net loss from discontinued operations for December 31, 2022 is $0.6 million of cumulative translation losses which were reclassified out of AOCI and into net loss upon sale of the Brazil Operations. The following table summarizes the components of income (loss) from discontinued operations (in thousands):
|  | Year Ended December 31,
|  | 2022 |  | 2021
Revenue |  | $ | 9,942 |  |  | $ | 7,994 |
Costs and expenses |  | 9,630 |  |  | 7,958 |
Impairment |  | 1,447 |  |  | — |
Cumulative foreign exchange loss |  | 626 |  |  | — |
Other income and interest expense, net |  | (84) |  |  | 117 |
Income (loss) from discontinued operations before income taxes |  | (1,845) |  |  | 153 |
Income tax expense |  | 149 |  |  | 321 |
Loss from discontinued operations, net of income taxes |  | $ | (1,994) |  |  | $ | (168) |
The following table summarizes the assets and liabilities of discontinued operations (in thousands):
|  | December 31,
|  | 2022 |  | 2021
Assets |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 1,149 |
Accounts receivable, net |  | — |  |  | 926 |
Contract assets and other current assets |  | — |  |  | 1,371 |
Total current assets of discontinued operations |  | — |  |  | 3,446 |
Property, plant and equipment, net |  | — |  |  | 522 |
Goodwill |  | — |  |  | 138 |
Other noncurrent assets |  | — |  |  | 172 |
Total assets of discontinued operations |  | $ | — |  |  | $ | 4,278 |
|  | December 31,
|  | 2022 |  | 2021
Liabilities |  |  |  |
Accounts payable |  | $ | — |  |  | $ | 492 |
Accrued liabilities |  | — |  |  | 1,213 |
Current portion of notes payable |  | — |  |  | 108 |
Current portion of finance and operating lease obligations |  | — |  |  | 118 |
Total current liabilities of discontinued operations |  | — |  |  | 1,931 |
Long-term notes payable, net of current portion and other noncurrent liabilities |  | — |  |  | 288 |
Total liabilities of discontinued operations |  | $ | — |  |  | $ | 2,219 |
Impairment of Brazil Operations The Company recorded an impairment charge of $1.4 million during the third quarter of 2022 as it determined that the decision to exit the Brazil Operations was an event that indicated that the group of assets' carrying value may not be recoverable. The Company estimated the fair value of $0.9 million (calculated as the estimated net proceeds that would be received in an orderly and timely sale of the operations) less the carrying value of the Brazil net assets at September 30, 2022. The impairment charge is included within income (loss) from discontinued operations, net of tax as reported in the Consolidated Statements of Operations for the year ended December 31, 2022. Segment Reporting As a result of the classification of the Brazil Operations as discontinued operations, the Company believes that it only has one reporting segment.

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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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