Discontinued Operations

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

(17) Discontinued Operations

The following table summarizes the components of loss from discontinued operations, net of tax (in thousands):

	Successor						Predecessor
	Year Ended December 31, 2022			For the Period February 3, 2021 through December 31, 2021			For the Period January 1, 2021 through February 2, 2021			Year Ended December 31, 2020
Revenues	$	-		$	90,682		$	10,719		$	184,580
Cost of services		-			85,191			10,398			180,408
Depreciation, depletion, amortization and accretion		-			31,502			2,141			31,022
General and administrative expenses		8,043			8,847			1,119			22,035
Other (gains) and losses, net		(2,249	)		15,807			-			-
Reduction in value of assets		-			-			-			117,335
Loss from operations		(5,794	)		(50,665	)		(2,939	)		(166,220	)
Other income (expense)		-			188			2,485			(2,069	)
Loss from discontinued operations before tax		(5,794	)		(50,477	)		(454	)		(168,289	)
Income tax benefit (expense)		1,217			10,408			102			(398	)
Income (loss) from discontinued operations, net of income tax	$	(4,577	)	$	(40,069	)	$	(352	)	$	(168,687	)

The following summarizes the assets and liabilities related to the business reported as discontinued operations (in thousands):

	December 31, 2022		December 31, 2021
Assets:
Accounts receivable, net	$	350	$	7,469
Property, plant and equipment, net		11,468		29,328
Other assets		160		731
Total assets held for sale	$	11,978	$	37,528
Liabilities:
Accounts payable	$	86	$	652
Accrued expenses		3,192		4,268
Other liabilities		71		687
Total liabilities held for sale	$	3,349	$	5,607

Significant operating non-cash items and cash flows from investing activities for our discontinued operations were as follows (in thousands):

	Successor					Predecessor
	Year Ended December 31, 2022			For the Period February 3, 2021 through December 31, 2021		For the Period January 1, 2021 through February 2, 2021			Year Ended December 31, 2020
Cash flows from discontinued operating activities:
Reduction in value of assets	$	-		$	-	$	-		$	117,335
(Gain)/loss on sale of assets		-			-		(43	)		286
Other (gains) and losses, net		(2,249	)		15,807		-			-
Depreciation, depletion, amortization and accretion		-			31,502		2,141			31,022
Cash flows from discontinued investing activities:
Proceeds from sales of assets		20,110			88,332		486			22,224