v3.22.2.2
Discontinued Operation (Tables)
 9 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The table below summarizes the results of the Rail Leasing business and the Rail Repair business for the three and nine months ended September 30, 2022 and 2021 which are reflected in the Consolidated Statements of Operations as discontinued operations:
 Three months ended September 30,Nine months ended September 30,
 (in thousands)2022202120222021
Sales and merchandising revenues$513 $25,018 $25,704 $103,950 
Cost of sales and merchandising revenues1,932 19,065 25,880 78,089 
Gross profit (loss)(1,419)5,953 (176)25,861 
Operating, administrative and general expenses333 3,415 6,146 10,705 
Interest expense, net— 2,139 — 8,714 
Other income (loss), net26,970 (1,330)33,590 583 
Income (loss) from discontinued operations before income taxes25,218 (931)27,268 7,025 
Income tax provision5,826 (2,777)9,169 (428)
Income (loss) from discontinued operations, net of income taxes$19,392 $1,846 $18,099 $7,453 

The following table summarizes the assets and liabilities which are classified as discontinued operations at September 30, 2022, December 31, 2021 and September 30, 2021:
(in thousands)September 30,
2022		December 31,
2021		September 30,
2021
Assets
Current assets:
Accounts receivable, net$— $12,643 $18,389 
Inventories— 6,739 6,803 
Other current assets— 1,503 1,369 
Current assets held-for-sale— 20,885 26,561 
Other assets:
Property, plant and equipment, net— 17,280 17,439 
Goodwill— 4,167 4,167 
Right of use assets, net— 20,999 16,521 
Other assets, net— 723 736 
Total non-current assets held-for-sale— 43,169 38,863 
Total assets held-for-sale$— $64,054 $65,424 
Liabilities
Current liabilities:
Trade and other payables$— $2,546 $4,223 
Current operating lease liabilities— 4,672 4,262 
Accrued expenses and other current liabilities— 6,161 4,942 
Total current liabilities held-for-sale— 13,379 13,427 
Long-term lease liabilities— 16,119 13,592 
Total liabilities held-for-sale$— $29,498 $27,019 
The following table summarizes cash flow data relating to discontinued operations for the nine months ended September 30, 2022 and 2021:
 Nine months ended September 30,
 (in thousands)20222021
Depreciation and amortization$— $21,786 
Capital expenditures(27,464)(8,368)
Proceeds from sale of assets36,706 18,705 
(Gain) loss on sale of discontinued operations(27,091)1,491 
Non-cash operating activities - gain on sale of railcars(6,030)(5,603)
Non-cash operating activities - asset impairment2,818 626