Quarterly report pursuant to Section 13 or 15(d)

Assets Held for Sale, Discontinued Operations and Disposals (Tables)

v3.20.2
Assets Held for Sale, Discontinued Operations and Disposals (Tables)
9 Months Ended
Jun. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations

Operating results of our discontinued solar operations were as follows, in thousands:

 

 

 

Three Months Ended June 30,

 

 

Nine Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues, net of returns and allowances

 

$

 

 

$

5,268

 

 

$

7,442

 

 

$

19,649

 

Cost of sales

 

 

 

 

 

4,374

 

 

 

5,969

 

 

 

19,726

 

Gross profit (loss)

 

 

 

 

 

894

 

 

 

1,473

 

 

 

(77

)

Selling, general and administrative

 

 

 

 

 

1,735

 

 

 

1,814

 

 

 

7,412

 

Research, development and engineering

 

 

 

 

 

736

 

 

 

540

 

 

 

2,647

 

Restructuring charges

 

 

 

 

 

(3

)

 

 

37

 

 

 

598

 

Operating loss

 

 

 

 

 

(1,574

)

 

 

(918

)

 

 

(10,734

)

Gain (loss) on sale of subsidiary

 

 

 

 

 

1,614

 

 

 

(10,916

)

 

 

1,614

 

Interest expense and other, net

 

 

 

 

 

(143

)

 

 

(29

)

 

 

(213

)

Loss from discontinued operations before

   income taxes

 

 

 

 

 

(103

)

 

 

(11,863

)

 

 

(9,333

)

Income tax benefit

 

 

 

 

 

(1,257

)

 

 

(47

)

 

 

(1,220

)

Net income (loss) from discontinued

   operations, net of tax

 

$

 

 

$

1,154

 

 

$

(11,816

)

 

$

(8,113

)

The following table presents a summary of the solar assets and liabilities held for sale included in our Condensed Consolidated Balance Sheets, in thousands:

 

Assets

 

September 30,

2019

 

Total current assets

 

$

17,591

 

Property, plant and equipment - net

 

 

5,164

 

Total assets included in the disposal group

 

 

22,755

 

Total current liabilities

 

 

18,272

 

Long-term debt

 

 

275

 

Total liabilities included in the disposal group

 

 

18,547

 

Net assets included in the disposal group

 

$

4,208

 

The following table summarizes selected cash flow information for discontinued operations, in thousands:

 

 

 

Nine Months Ended June 30,

 

 

 

2020

 

 

2019

 

Loss from discontinued operations, net of tax

 

$

(11,816

)

 

$

(8,113

)

Depreciation and amortization

 

$

180

 

 

$

426

 

(Reversal of) provision for allowance for

   doubtful accounts, net

 

$

(66

)

 

$

887

 

(Loss) gain on sale of subsidiary

 

$

(10,916

)

 

$

1,614

 

Purchases of property, plant and equipment

 

$

1

 

 

$

118