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Assets Held for Sale and Discontinued Operations
 12 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held for Sale and Discontinued Operations Assets Held for Sale and Discontinued Operations
The Company committed to the plan to sell CBlade in August 2024 in order to streamline operational synergies and refocus on its core aerospace forging entities. On August 1, 2024, the Company’s Board of Directors approved, and management executed a share purchase agreement (the “SPA”), under which SIFCO Irish Holdings, Ltd., a wholly owned subsidiary of the Company, entered into an agreement to sell 100% of the share capital of CBlade, to TB2 S.r.l. (the “Buyer”) totaling an enterprise value of €20,000, less debt, for cash consideration of €13,800 in net equity value at closing, subject to adjustments for changes in working capital and certain other items.(the “CBlade Sale”). The Company determined that CBlade met the criteria for classification as assets held for sale upon the aforementioned events. Based on the asset held for sale classification and the significance of the disposed operations (i.e., strategic shift), CBlade represented discontinued operations as of September 30, 2024.
In October 2024, upon regulatory approval, the Company completed the sale of CBlade and received cash consideration of approximately $14,938. The Company does not expect to have any significant continuing involvement with CBlade after the sale.
The principal components of the assets and liabilities held for sale for the periods presented were as follows:
September 30,
20242023
ASSETS
Current assets:
Cash and cash equivalents$1,009 $347 
Short-term investments1,114 — 
Receivables, net6,259 4,558 
Inventories, net6,185 4,305 
Prepaid expenses and other current assets1,400 338 
Total current assets15,967 9,548 
Property, plant and equipment, net6,625 6,820 
Operating lease right-of-use assets, net113 159 
Intangible assets, net126 278 
Other assets— 1 
Total assets held for sale$22,831 $16,806 
LIABILITIES
Current liabilities:
Current maturities of long-term debt$3,843 $3,446 
Short-term operating lease liabilities40 51 
Accounts payable2,770 2,473 
Accrued liabilities3,405 2,691 
Total current liabilities10,058 8,661 
Long-term debt, net3,536 2,466 
Long-term operating lease liabilities71 105 
Deferred income taxes, net1 — 
Pension liability282 313 
Total liabilities held for sale$13,948 $11,545 
A summary of the operating results for the discontinued operations is as follows:
Years Ended September 30,
20242023
Net sales$24,705 $20,955 
Cost of sales18,868 16,770 
Depreciation and amortization1,227 1,333 
Interest expense net507 351 
Income from discontinued operations before income tax provision3,132 1,971 
Income tax (benefit) expense(111)144 
Income from discontinued operations, net of tax$3,243 $1,827 
A summary of the cash flows for the discontinued operations is as follows:
Years Ended September 30,
20242023
Net cash provided by operating activities from discontinued operations$1,373 $2,397 
Net cash used in investing activities from discontinued operations(1,411)(1,317)
Net cash provided by (used for) financing activities of discontinued operations1,081 (2,000)
Effects of exchange rate changes on cash and cash equivalents(381)110