On December 23, 2021, we entered into an asset purchase agreement with a buyer, pursuant to which we agreed to sell all of our right, title and interest in and to certain assets of the Dryel^® product line. The total consideration paid to us was $4,850, plus an amount equal to the value of the Dryel^® inventory of $440, subject to post-close adjustment. At closing, $500 of the total consideration was held in escrow for a twelve-month period following the closing date, to be released ratably in four installments in 2022. We received the first two installment payments during the first six months ended June 30, 2022. This consideration is reflected as Restricted Cash on the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021, respectively. Dryel^® generated approximately $2,800 of net sales in the trailing twelve-month period ending December 31, 2021.

Under ASC 360, a long-lived asset group should be classified as held for sale if all of the established criteria are met. The sale of Dryel^® did not meet these criteria in the year ending December 31, 2021, because we had not established an active program to locate a buyer and because the brand was not being marketed for sale. All efforts between the buyer and the Company occurred during the fourth quarter of 2021. As a result, there was no adjustment to fair value under ASC 360 guidance related to held for sale assets, and the difference between the consideration paid to us and the carrying amount of all assets is reflected in the loss on sale of discontinued operations.

We have reflected the operations of the Dryel^® product line as discontinued operations. Our Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations report discontinued operations separate from continuing operations. Our Condensed Consolidated Statements of Equity and Statements of Cash Flows combine the results of continuing and discontinued operations. As of the three and six months ended June 30, 2022, there were no operating results from discontinued operations included in the Condensed Consolidated Statements of Operations. As of June 30, 2022 and December 31, 2021, respectively, there were no assets and liabilities relating to discontinued operations presented separately in the Condensed Consolidated Balance Sheets. There were no capital expenditures or significant operating and investing noncash items related to discontinued operations during the six months ended June 30, 2022 and 2021, respectively. 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, 2021			Six Months Ended June 30, 2021
Net sales	$	682		$	1,271
Cost of sales		267			700
Gross profit		415			571

Operating expenses:
Selling		126			268
Intangible asset amortization		123			246
Interest expense		99			199
Income (loss) from discontinued operations before tax		67			(142	)


Income tax (expense) benefit		(18	)		37
Income (loss) from discontinued operations, net of tax	$	49		$	(105	)