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Discontinued Operations | 9 Months Ended
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Oct. 04, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On July 6, 2015 (the first day of the Company's third quarter), the Company completed the sale of its Surface Inspection Systems Division (SISD) to AMETEK, Inc. (AMETEK) for $155,655,000 in cash. Transaction costs totaled $5,090,000 and included $1,106,000 of stock option expense from the accelerated vesting of stock options triggered by the sale. Carrying amounts of major assets and liabilities included as part of the disposal group were as follows (in thousands):
|  | December 31, 2014
Accounts receivable, net |  | $ | 10,885 |
Inventories, net |  | 6,313 |
Unbilled revenue |  | 2,356 |
Prepaid expenses and other current assets |  | 2,955 |
Property, plant, and equipment, net |  | 1,944 |
Intangible assets, net |  | 1,029 |
Goodwill |  | 4,301 |
Other assets |  | 31 |
Held for sale assets |  | $ | 29,814 |
Accounts payable |  | 1,891 |
Accrued expenses |  | 4,335 |
Deferred revenue |  | 5,965 |
Held for sale liabilities |  | $ | 12,191 |
The financial results of SISD are reported as a discontinued operation for all periods presented. The pretax gain associated with this sale was $125,465,000 and was recorded in the third quarter of 2015 in "Gain on sale of discontinued business, net of tax" on the Consolidated Statements of Operations. The major classes of revenue and expense included in discontinued operations were as follows (in thousands):
| Three-months Ended |  | Nine-months Ended
| October 4, 2015 |  | September 28, 2014 |  | October 4, 2015 |  | September 28, 2014
Revenue | $ | — |  |  | $ | 15,000 |  |  | $ | 23,248 |  |  | $ | 41,139 |
Cost of revenue | — |  |  | (6,514 | ) |  | (11,291 | ) |  | (18,462 | )
Research, development, and engineering expenses | — |  |  | (1,033 | ) |  | (2,126 | ) |  | (3,101 | )
Selling, general, and administrative expenses | — |  |  | (3,364 | ) |  | (7,800 | ) |  | (9,748 | )
Foreign currency gain (loss) | — |  |  | (78 | ) |  | (177 | ) |  | (100 | )
Pretax income from discontinued operations | — |  |  | 4,011 |  |  | 1,854 |  |  | 9,728 |
Pretax gain on sale of discontinued business | 125,465 |  |  | — |  |  | 125,465 |  |  | — |
Discontinued operations, pretax | 125,465 |  |  | 4,011 |  |  | 127,319 |  |  | 9,728 |
Income tax expense | 47,175 |  |  | 1,292 |  |  | 47,801 |  |  | 3,045 |
Discontinued operations, net of tax | $ | 78,290 |  |  | $ | 2,719 |  |  | $ | 79,518 |  |  | $ | 6,683 |
Significant non-cash items related to the discontinued business were as follows (in thousands):
| Three-months Ended |  | Nine-months Ended
| October 4, 2015 |  | September 28, 2014 |  | October 4, 2015 |  | September 28, 2014
Stock-based compensation expense | $ | 1,106 |  |  | $ | 231 |  |  | $ | 1,533 |  |  | $ | 786 |
Depreciation expense | — |  |  | 196 |  |  | 401 |  |  | 584 |
Amortization expense | — |  |  | 94 |  |  | 165 |  |  | 282 |
Capital expenditures | — |  |  | 206 |  |  | 482 |  |  | 467 |
The Company also entered into a Transition Services Agreement (TSA) with AMETEK to ensure an orderly and effective transition of SISD. Under the terms of the TSA, the Company agreed to continue to perform certain administrative activities related to SISD; however, AMETEK is responsible for monitoring the business and making all strategic decisions. Activities under this TSA were completed in October 2015. The income associated with this TSA was immaterial to the three-month and nine-month periods ended October 4, 2015.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 + Details
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