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DISCONTINUED OPERATIONS
 12 Months Ended
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,
20222021
Revenue$9,942 $7,994 
Costs and expenses9,630 7,958 
Impairment 1,447 — 
Cumulative foreign exchange loss626 — 
Other income and interest expense, net(84)117 
Income (loss) from discontinued operations before income taxes(1,845)153 
Income tax expense149 321 
Loss from discontinued operations, net of income taxes$(1,994)$(168)

The following table summarizes the assets and liabilities of discontinued operations (in thousands):
December 31,
20222021
Assets
Cash and cash equivalents$— $1,149 
Accounts receivable, net— 926 
Contract assets and other current assets— 1,371 
Total current assets of discontinued operations— 3,446 
Property, plant and equipment, net— 522 
Goodwill— 138 
Other noncurrent assets— 172 
Total assets of discontinued operations$— $4,278 
December 31,
20222021
Liabilities
Accounts payable$— $492 
Accrued liabilities— 1,213 
Current portion of notes payable— 108 
Current portion of finance and operating lease obligations— 118 
Total current liabilities of discontinued operations— 1,931 
Long-term notes payable, net of current portion and other noncurrent liabilities— 288 
Total liabilities of discontinued operations$— $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.