General form of registration statement for all companies including face-amount certificate companies

Discontinued Operations (Tables)

v3.21.2
Discontinued Operations (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]    
Summary of Components of the Gain/(Loss) from Discontinued Operations
The following summarizes the components of the gain from discontinued operations, net of tax, that the Company has reported in the unaudited condensed consolidated statements of operations and comprehensive loss:
 
    
Three Months Ended
September 30,
     
Nine Months Ended
September 30,
  
    
    2021    
     
    2020    
     
2021
     
2020
  
    
(in thousands)
     
(in thousands)
  
Major classes of line items constituting gain from discontinued o
p
erations:
            
Revenue - launch services
    $ —      $ —      $ —      $ 26,925
Total operating cost and expenses
    $ —      $ 511    $ —      $ 29,129
Operating loss
    $ —      $ (511 )     $ —      $ (2,204 ) 
Loss from discontinued operations, before income taxes.
    $ —      $ (511 )     $ —      $ (2,223 ) 
(Loss)/gain on disposal of discontinued operations
    $ —      $ —      $ (1,022 )     $ 30,672
Total (loss)/gain from discontinued operations, net of income taxes
    $ —      $ (511 )     $ (1,022 )     $ 28,449
The following summarizes the components of the gain/(loss) from discontinued operations, net of tax, that the Company has reported in the consolidated statements of operations and comprehensive loss:
 
    
Year Ended December 31,
  
    
    2020    
     
    2019    
  
    
(in thousands)
  
Major classes of line items constituting loss from discontinued operations:
                  
Revenue - launch services
    $ 26,925      $ 46,366  
Cost and expenses:
                  
Service costs, excluding depreciation
      21,161        45,040  
Provision for doubtful accounts
      2,128        176  
General and administrative expenses
      3,590        6,908  
Depreciation
      2,514        200  
    
 
 
     
 
 
  
Operating loss
      (2,468 )       (5,958 ) 
Interest expense, net
      (3 )       (40 ) 
Other expense, net
      (16 )       (162 ) 
    
 
 
     
 
 
  
Loss from discontinued operations, before income taxes.
      (2,487 )       (6,160 ) 
Gain on disposal of discontinued operations
      30,672        —    
Income tax (provision) benefit
      —          —    
    
 
 
     
 
 
  
Total gain/(loss) of discontinued operations, net of income taxes
    $ 28,185      $ (6,160 ) 
    
 
 
     
 
 
  
Summary of Carrying Amounts of the Major Classes of Assets and Liabilities  
The carrying amounts of the major classes of assets and liabilities, which are classified as held for sale in the consolidated balance sheet, are as follows:
 
    
Year Ended
December 31,
  
    
2019
  
    
(in thousands)
  
Carrying amounts of the major classes of assets included in discontinued operations
         
Cash and cash equivalents
    $ 11,383  
Accounts receivable - net
      4,176  
Unbilled revenue - net
      4,205  
Inventory
      967  
Contract advances, prepaid expenses and other current assets
      767  
Property and equipment - net
      710  
Other
      11  
    
 
 
  
Current assets of discontinued operations
      22,219  
    
 
 
  
Total Assets
      22,219  
    
 
 
  
Accounts payable
      6,367  
Accrued expenses
-
net
      19,206  
Accrued payroll
      446  
Deferred revenue
      4,648  
Other liabilities
      549  
    
 
 
  
Current liabilities of discontinued operations
      31,216  
    
 
 
  
Total liabilities
      31,216