Discontinued Operations and Dispositions (Tables)

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Balance sheet positions and financial information included in net income from discontinued operations and statements of cash flows

The reclassification of the Rail business's balance sheet positions as of December 31, 2023 had the following impacts on the Condensed Consolidated Balance Sheets and are summarized as follows:

(in thousands)	December 31 2023
Trade accounts receivable, net	$	57,415
Other receivables	6,708
Inventories	103,077
Current portion of contract assets	56,341
Prepaid expenses	28,797
Other current assets	2,895
Property, plant and equipment, net	44,113
Right-of-use assets, net	7,050
Goodwill	13,026
Intangible assets, net	3,122
Deferred income tax assets	973
Other assets	22,792
Total assets	$	346,309
Accounts payable	$	44,703
Accrued compensation	6,056
Income taxes payable	1,434
Current portion of operating lease liabilities	3,656
Current portion of advances on contracts	32,912
Reserve for forward losses on contracts	52,725
Other current liabilities	30,550
Operating lease liabilities	3,331
Deferred tax liabilities	350
Other liabilities	494
Total liabilities	$	176,211

The reclassification of the results of the Rail business to continuing operations had the following impacts on the Consolidated Statement of Operations for the three months ended March 31, 2023:

	Three Months Ended
	March 31
(In thousands)	2023
Service revenues	$	7,720
Product revenues	57,332
Total revenues	65,052
Cost of services sold	5,626
Cost of products sold	45,743
Total cost of sales	51,369
Selling, general and administrative expenses	9,926
Research and development expenses	344
Other expense (income)	503
Total costs and expenses	62,142
Operating income from continuing operations	2,910
Interest income	25
Interest expense	(667)
Defined benefit pension income	6
Income (loss) from continuing operations before income taxes	2,274
Income tax benefit (expense) from continuing operations	(1,094)
Income (loss) from continuing operations	$	1,180