Restatement of Previously Issued Financial Statements (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Changes and Error Corrections [Abstract]

Schedule of Consolidated Financial Statements Previously Issued

The table below sets forth the consolidated balance sheet, including the balances as originally reported, adjustments and the as restated balances (in thousands):

	As of December 31, 2017
	As originally reported		Adjustments			As restated
Income tax receivable	$	502	$	(502	)	$	-
Total current assets		28,919		(502	)		28,417
Total assets	$	34,161	$	(502	)	$	33,659
Other current liabilities	$	310	$	740		$	1,050
Total current liabilities		1,072		740			1,812
Retained earnings		22,144		(1,242	)		20,902
Total stockholders’ equity		33,089		(1,242	)		31,847
Total liabilities and stockholders’ equity	$	34,161	$	(502	)	$	33,659

The table below sets for the consolidated statements of operations, including the balances as originally reported, adjustments, and the as restated amounts (in thousands):

	For the year ended December 31, 2017
	As originally reported		Adjustments			As restated
Income tax benefit from continuing operations	$	17,990	$	(16,569	)	$	1,421
Income (loss) from continuing operations		14,327		(16,569	)		(2,242	)
Gain on sale of discontinued operations, net of taxes		26,974		15,327			42,301
Income from discontinued operations		27,504		15,327			42,831
Net income		41,831		(1,242	)		40,589
Total comprehensive income		41,753		(1,242	)		40,511
Basic earnings per share:
Income (loss) from continuing operations	$	0.92	$	(1.06	)	$	(0.14	)
Income from discontinued operations		1.77		0.99			2.75
Net income	$	2.69	$	(0.08	)	$	2.61
Diluted earnings per share:
Income (loss) from continuing operations	$	0.92	$	(1.07	)	$	(0.14	)
Income from discontinued operations		1.75		0.98			2.73
Net income	$	2.67	$	(0.09	)	$	2.59

The table below sets forth the consolidated statements of cash flows from operating activities, including the balances as originally reported, adjustments and the as restated balances (in thousands):

	For the year ended December 31, 2017
	As originally reported			Adjustments			As restated
Net income	$	41,831		$	(1,242	)	$	40,589
Gain on sale of assets, net of taxes		(26,974	)		(15,327	)		(42,301	)
Income tax benefit		(17,990	)		16,569			(1,421	)
Income tax receivable		(502	)		502			-
Income taxes payable		(848	)		(502	)		(1,350	)
Net cash used in operating activities	$	(2,838	)	$	-		$	(2,838	)