SALE OF TMC ASSETS (Tables)

6 Months Ended

Jun. 29, 2019

SALE OF TMC ASSETS

Summary of revenue, expenses and pre-tax income reclassified to discontinued operations, results of discontinued operations and assets and liabilities held for sale

Revenue, expenses and pre-tax income reclassified to discontinued operations were as follows (amounts in thousands):

	Three Months ended				Six Months Ended
	JUNE 29,		JUNE 30,		JUNE 29,		JUNE 30,
	2019		2018		2019		2018
Revenue	$	-	$	17,743	$	4,058	$	31,206
Costs and expenses		-		15,512		3,900		28,452
Depreciation, depletion and amortization		-		302		578		573
Selling and administrative		-		890		304		1,811
Gain on sales of equipment		-		889		-		889
(Loss) gain on sale of assets		(1,225)		-		5,283		-
Pre-tax (loss) income	$	(1,225)	$	1,928	$	4,559	$	1,259

The results of discontinued operations are summarized as follows:

	Three Months ended				Six Months Ended
	JUNE 29,		JUNE 30,		JUNE 29,		JUNE 30,
	2019		2018		2019		2018
Operating income (loss)	$	-	$	1,928	$	(724)	$	1,259
(Loss) gain on sale of assets		(1,225)		—		5,283		—
Income tax (benefit) provision		(307)		482		1,255		315
Loss (income) from discontinued operations	$	(918)	$	1,446	$	3,304	$	944

The assets and liabilities held for sale related to TMC’s ready-mix and Daniels sand businesses were as follows:

	JUNE 29,		DECEMBER 29,
	2019		2018
Accounts receivable, net	$	—	$	9,054
Inventory		—		1,914
Property, plant and equipment, net		—		6,741
Other assets		—		6,327
Total assets held for sale	$	—	$	24,036
Accounts payable and accrued expenses	$		$	3,800
Other long-term liabilities		—		292
Total liabilities held for sale	$	—	$	4,092