Divestitures (Tables)

6 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Financial Information Related to Discontinued Operations

A summary of financial information related to our discontinued operations is as follows:

Reconciliation of the Line Items Constituting Pretax Loss from Discontinued Operations to the After-Tax Loss from Discontinued Operations in the Condensed Consolidated Statements of Operations for the three and six months ended June 30:

	Three Months Ended June 30, 2023
	Alpha®		BIZ®			Prell®		Scott's Liquid Gold®		Total
Net sales	$	514	$	1,011		$	-	$	-	$	1,525
Cost of sales		209		732			-		-		941
Gross profit		305		279			-		-		584
Operating expenses:
Selling		80		204			-		-		284
General and administrative		10		12			-		-		22
Intangible asset amortization		-		6			-		-		6
Operating income from discontinued operations		215		57			-		-		272
Interest expense		-		(44	)		-		-		(44	)
Income from discontinued operations	$	215	$	13		$	-	$	-	$	228

	Three Months Ended June 30, 2022
	Alpha®		BIZ®			Prell®			Scott's Liquid Gold®			Total
Net sales	$	1,057	$	1,363		$	753		$	1,090		$	4,263
Cost of sales		401		952			470			548			2,371
Gross profit		656		411			283			542			1,892
Operating expenses:
Selling		169		328			202			200			899
Intangible asset amortization		-		6			12			-			18
Operating income from discontinued operations		487		77			69			342			975
Interest expense		-		(44	)		(14	)		(54	)		(112	)
Income from discontinued operations	$	487	$	33		$	55		$	288		$	863

	Six Months Ended June 30, 2023
	Alpha®		BIZ®			Prell®		Scott's Liquid Gold®			Total
Net sales	$	879	$	2,164		$	-	$	187		$	3,230
Cost of sales		278		1,510			-		95			1,883
Gross profit		601		654			-		92			1,347
Operating expenses:
Selling		141		437			-		28			606
General and administrative		10		12			-		22			44
Intangible asset amortization		-		12			-		-			12
Operating income from discontinued operations		450		193			-		42			685
Interest expense		-		(88	)		-		(18	)		(106	)
Gain on sale of discontinued operations		-		-			-		787			787
Income from discontinued operations	$	450	$	105		$	-	$	811		$	1,366

	Six Months Ended June 30, 2022
	Alpha®		BIZ®			Prell®			Scott's Liquid Gold®			Total
Net sales	$	1,917	$	2,423		$	1,591		$	2,313		$	8,244
Cost of sales		684		1,707			966			1,022			4,379
Gross profit		1,233		716			625			1,291			3,865
Operating expenses:
Selling		280		677			492			489			1,938
Intangible asset amortization		-		12			24			-			36
Operating income from discontinued operations		953		27			109			802			1,891
Interest expense		-		(88	)		(27	)		(108	)		(223	)
Income (loss) from discontinued operations	$	953	$	(61	)	$	82		$	694		$	1,668

There were no capital expenditures or significant operating and investing noncash items related to discontinued operations during the six months ended June 30, 2023 and 2022, respectively.

Reconciliation of Major Classes of Assets of the Discontinued Operations to Amounts Presented Separately in the Consolidated Balance Sheets as of:
 

	June 30, 2023		December 31, 2022
Assets
Inventories	$	-	$	1,235

All assets in the above table are related to the discontinued operations of Scott's Liquid Gold®. There were no assets of discontinued operations related to Prell®, BIZ®, and Alpha® as of June 30, 2023 and December 31, 2022, respectively.

Summary of Assets Held for Sale

The following tables set forth the assets held for sale as of:

	June 30, 2023
	BIZ®		Alpha®		Total
Assets
Current assets:
Inventories	$	946	$	1,115	$	2,061
Intangible assets, net		219		-		219
Assets held for sale	$	1,165	$	1,115	$	2,280

	December 31, 2022
	BIZ®		Alpha®		Total
Assets
Current assets:
Inventories	$	1,092	$	1,268	$	2,360
Intangible assets, net		231		-		231
Assets held for sale	$	1,323	$	1,268	$	2,591