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Discontinued Operations | 12 Months Ended
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Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations In the fourth quarter of 2022, the Company discontinued the operations of its Drivetrain and XL Grid operations. The following table provides supplemental details of the Company’s discontinued operations contained within the consolidated statements of operations for the years ended December 31, 2023 and 2022:
| Years Ended December 31,
(Amounts in thousands) | 2023 |  | 2022
Net loss from discontinued operations: |  |  |
XL Grid | $ | — |  |  | $ | (1,092) |
Drivetrain | (4,123) |  |  | (30,414) |
Impairment of goodwill | — |  |  | (8,606) |
Total | $ | (4,123) |  |  | $ | (40,112) |
XL Grid The following table presents financial results of XL Grid operations:
| Years Ended December 31,
(Amounts in thousands) | 2023 |  | 2022
Revenues | $ | 149 |  |  | $ | 12,279 |
Operating expenses: |  |  |
Cost of revenues - inventory and other direct costs | 148 |  |  | 8,577 |
Selling, general, and administrative expenses | 743 |  |  | 4,794 |
Gain on asset disposal | (742) |  |  | — |
Total operating expenses | 149 |  |  | 13,371 |
Net loss from discontinued operations | $ | — |  |  | $ | (1,092) |
Drivetrain The following table presents financial results of Drivetrain operations:
| Years Ended December 31,
(Amounts in thousands) | 2023 |  | 2022
Revenues | $ | 42 |  |  | $ | 2,419 |
Operating expenses: |  |  |
Cost of revenues - inventory and other direct costs | 106 |  |  | 14,038 |
Engineering, research, and development | — |  |  | 9,819 |
Selling, general, and administrative expenses | — |  |  | 8,041 |
Loss on asset disposal | 4,071 |  |  | 935 |
Other (income) | (12) |  |  | — |
Total operating expenses | 4,165 |  |  | 32,833 |
Net loss from discontinued operations | $ | (4,123) |  |  | $ | (30,414) |
The following table presents aggregate carrying amounts of assets and liabilities of discontinued operations contained within the consolidated balance sheets:
|  | As of December 31,
(Amounts in thousands) |  | 2023 |  | 2022
Assets from discontinued operations: |  |  |  |
Drivetrain |  | $ | 32 |  |  | $ | 3,604 |
XL Grid |  | — |  |  | 7,373 |
Total assets from discontinued operations |  | $ | 32 |  |  | $ | 10,977 |
Liabilities from discontinued operations: |  |  |  |
Drivetrain |  | $ | 170 |  |  | $ | 5,743 |
XL Grid |  | — |  |  | 3,648 |
Total liabilities from discontinued operations |  | $ | 170 |  |  | $ | 9,391 |

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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 + Details
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