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DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of discontinued operations | The components of assets and liabilities that are attributable to discontinued operations are as follows (in thousands):
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Assets of discontinued operations: |  |  |  |  |  |  |  |
Accounts receivable - trade, net |  | $ | — |  |  | $ | 12,944 |
Inventories, net |  |  | — |  |  |  | 23,632 |
Income taxes receivable |  |  | — |  |  |  | 566 |
Prepaid expenses |  |  | — |  |  |  | 514 |
Property, plant and equipment, net |  |  | — |  |  |  | 4,406 |
Right of use asset |  |  | — |  |  |  | 2,124 |
Deferred income taxes |  |  | — |  |  |  | 134 |
Intangible assets, net |  |  | — |  |  |  | 3,460 |
Goodwill |  |  | — |  |  |  | 5,557 |
Assets of discontinued operations |  | $ | — |  |  | $ | 53,337 |
Liabilities of discontinued operations: |  |  |  |  |  |  |  |
Bank overdrafts |  | $ | — |  |  | $ | 1,690 |
Accounts payable and accrued liabilities |  |  | — |  |  |  | 18,894 |
Income taxes payable |  |  | — |  |  |  | 778 |
Pension deficit |  |  | — |  |  |  | 148 |
Other long-term liabilities |  |  | — |  |  |  | 2,187 |
Liabilities of discontinued operations |  | $ | — |  |  | $ | 23,697 |
The following table presents the discontinued operations of the liquid-filled and dry-type transformer manufacturing businesses in the Consolidated Statement of Operations (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Revenues |  | $ | 46,631 |  |  | $ | 86,263 |
Costs and Expenses |  |  |  |  |  |  |  |
Cost of goods sold |  |  | 39,915 |  |  |  | 68,906 |
Selling, general and administrative |  |  | 9,207 |  |  |  | 10,445 |
Foreign exchange gain |  |  | (834 | ) |  |  | (337 | )
Interest expense |  |  | 653 |  |  |  | 1,745 |
Other expense |  |  | 41 |  |  |  | 760 |
Total costs and expenses |  |  | 48,982 |  |  |  | 81,519 |
Gain on sale of discontinued subsidiaries |  |  | 13,686 |  |  |  | — |
Income before provision for income taxes |  |  | 11,335 |  |  |  | 4,744 |
Income tax expense |  |  | 737 |  |  |  | 1,099 |
Income from discontinued operations, net of income taxes |  | $ | 10,598 |  |  | $ | 3,645 |
Depreciation, capital expenditures, and significant non cash items of the discontinued operations by period were as follows (in thousands):
|  | Year Ended December 31,
|  | 2019 |  | 2018
Depreciation and amortization |  | $ | 756 |  |  | $ | 1,207 |
Capital expenditures |  |  | 117 |  |  |  | 432 |
Write-off of receivables |  |  | 2,876 |  |  |  | — |

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