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Note 2 - Discontinued Operations

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

2. DISCONTINUED OPERATIONS

On October 31, 2022, the Company entered into a sales agreement and closed on the sale of its Brazil Operations. The sale of the Brazil Operations met the criteria for discontinued operations presentation as the sale of the Brazil Operations represented a strategic shift of future operations of the Company. Further, the Brazil Operations had separately reported financial information available as the Brazil Operations represented substantially all of the revenue and expenses of the Company's previously reported Power Delivery segment.

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, for the 2022 periods preceding the sale, the Condensed Consolidated Financial Statements and related notes have been recast to separately state the revenues, expenses and cash flows between its continuing operations and the discontinued operations. The Company had no assets and liabilities related to the Brazil Operations at June 30, 2023 or December 31, 2022. In addition, the Company had no results of operations nor cash flows for the three and six months ended June 30, 2023.

The following table summarizes the components of income from discontinued operations for the periods presented (in thousands):

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2023				2022				2023				2022
Revenues		$	—			$	2,634			$	—			$	5,400
Costs and expenses			—				2,517				—				5,310
Other income (expense), net			—				(18	)			—				(35	)
Income from discontinued operations before income taxes		$	—			$	99			$	—			$	55
Income tax expense			—				192				—				195
Loss from discontinued operations, net of income taxes		$	—			$	(93	)		$	—			$	(140	)

Segment Reporting

As a result of the classification of the Brazil Operations as discontinued operations, the Company only has one reporting segment.

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- References

No definition available.

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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
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//205-20/tableOfContent

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//360/tableOfContent

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