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Assets Held for Sale and Discontinued Operations | 3 Months Ended
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Apr. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale and Discontinued Operations | Assets Held for Sale and Discontinued OperationsOn July 27, 2020, the Board determined to exit the Leasing Business, which comprises essentially all operations of the Equipment Leasing segment. As a result, the assets, excluding cash, and liabilities of the Equipment Leasing segment are considered held for sale and the segment’s operations are reported as discontinued operations as of April 30, 2021 and for all comparative periods presented in these condensed consolidated financial statements. The Company originally anticipated selling the discontinued operations within twelve months from July 27, 2020, in multiple transactions, which may involve the sale of legal entities, assets, or a combination of both, but now anticipates completing the process within the next six months. The assets reported as held for sale consist of the following:
| April 30, 2021 |  | January 31, 2021
Current assets of discontinued operations: |  |  |
Accounts receivable, net | 1,310 |  |  | 1,668 |
Inventories, net | 47 |  |  | 352 |
Prepaid expenses and other current assets | 340 |  |  | 150 |
Seismic equipment lease pool and property and equipment, net | 2,389 |  |  | 2,151 |
Total assets of discontinued operations | $ | 4,086 |  |  | $ | 4,321 |
The liabilities reported as held for sale consist of the following:
| April 30, 2021 |  | January 31, 2021
Current liabilities of discontinued operations: |  |  |
Accounts payable | $ | 13 |  |  | $ | 59 |
Deferred revenue | 73 |  |  | 73 |
Accrued expenses and other current liabilities | 915 |  |  | 831 |
Income taxes payable (receivable) | (29) |  |  | — |
Total liabilities of discontinued operations | 972 |  |  | 963 |
The results of operations from discontinued operations for the three months ended April 30, 2021 and 2020, consist of the following:
|  | For the Three Months Ended April 30, |  |
|  | 2021 |  | 2020 |  |  |  |
Revenues: |  |  |  |  |  |  |  |
Revenue from discontinued operations |  | $ | 30 |  |  | $ | 4,188 |  |  |  |  |
Cost of sales: |  |  |  |  |  |  |  |
Cost of discontinued operations |  | 373 |  |  | 2,484 |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 342 |  |  | 1,700 |  |  |  |  |
Recovery of doubtful accounts |  | (443) |  |  | — |  |  |  |  |
Depreciation and amortization |  | 1 |  |  | 44 |  |  |  |  |
Total operating expenses |  | (100) |  |  | 1,744 |  |  |  |  |
Operating loss |  | (243) |  |  | (40) |  |  |  |  |
Other income (expenses) |  | (39) |  |  | 3 |  |  |  |  |
Loss before income taxes |  | (282) |  |  | (37) |  |  |  |  |
Provision for income taxes |  | (1) |  |  | (178) |  |  |  |  |
Net loss |  | (283) |  |  | (215) |  |  |  |  |
The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:
|  |  |  | For the Three Months Ended April 30,
|  |  |  |  |  | 2021 |  | 2020
Depreciation and amortization |  |  |  |  |  | $ | — |  |  | $ | 971 |
Gross profit from sale of lease pool equipment |  |  |  |  |  | $ | — |  |  | $ | (852) |
Recovery of doubtful accounts |  |  |  |  |  | $ | 443 |  |  | $ | — |
Purchase of seismic equipment held for lease |  |  |  |  |  | $ | — |  |  | $ | (110) |
Sale of used lease pool equipment |  |  |  |  |  | $ | — |  |  | $ | 1,414 |
Sale of assets held for sale |  |  |  |  |  | $ | 187 |  |  | $ | — |

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- References No definition available. + Details
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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 http://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 http://asc.fasb.org/subtopic&trid=2122178 + Details
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