XML 37 R26.htm IDEA: XBRL DOCUMENT v3.21.2

SUBSEQUENT EVENTS

9 Months Ended

Sep. 25, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

RMS Japan Divestiture

On October 12, 2021, the Company completed the sale of its RMS Japan operations to The Jackson Laboratory for approximately $63 million in cash, subject to customary closing adjustments. The Company is in the process of evaluating the transaction and its impact on the financial statements, including evaluating the resulting gain (loss) that will be recognized. As of September 25, 2021, this business and the related assets and liabilities were classified as held-for-sale, as all relevant criteria were met, on the condensed consolidated balance sheet within Other current assets and Other current liabilities, respectively. No changes were made to the prior period. The carrying amounts of the major classes of assets and liabilities associated with the RMS Japan business were as follows:

			September 25, 2021
			(in thousands)
Assets
Current assets			$	26,794
Property, plant, and equipment, net			17,964
Goodwill			6,876
Other assets			3,383
Assets held for sale			$	55,017
Liabilities
Current liabilities			$	8,892
Long-term liabilities			97
Liabilities held for sale			$	8,989

CDMO Sweden Divestiture

On October 12, 2021, the Company completed the sale of its gene therapy CDMO site in Sweden to a private investor group for approximately $52 million in cash and potential contingent payments of up to an additional $25 million, subject to certain adjustments. The Company is in the process of evaluating the transaction and its impact on the financial statements, including evaluating the resulting gain (loss) that will be recognized. As of September 25, 2021, this business and the related assets and liabilities were classified as held-for-sale, as all relevant criteria were met, on the condensed consolidated balance sheet within Other current assets and Other current liabilities, respectively. No changes were made to the prior period. The carrying amounts of the major classes of assets and liabilities associated with the CDMO site in Sweden were as follows:

			September 25, 2021
			(in thousands)
Assets
Current assets			$	9,044
Property, plant and equipment, net			14,615
Operating lease right-of-use assets, net			20,001
Goodwill			26,601
Intangible assets, net			14,280
Assets held for sale			$	84,541
Liabilities
Current liabilities			$	6,893
Operating lease right-of-use liabilities			18,468
Liabilities held for sale			$	25,361

X

- References

No definition available.

+ Details

Name:	us-gaap_SubsequentEventsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 855
-URI http://asc.fasb.org/topic&trid=2122774

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 855
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662

+ Details

Name:	us-gaap_SubsequentEventsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration