XML 20 R12.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Discontinued Operations | 9 Months Ended
--- | ---
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 5 — Discontinued Operations On October 1, 2022, the Company entered into an Asset Purchase Agreement to sell the Link-16 TDL Business in its government systems segment to L3Harris in exchange for approximately $1.96 billion in cash, subject to adjustments. In accordance with ASC 205-20, the Company determined that the Link-16 TDL Business met held-for sale and discontinued operations accounting criteria at the end of the second quarter of fiscal year 2023. On January 3, 2023, the Company completed the Link-16 TDL Sale. Accordingly, the Company classified the results of the Link-16 TDL Business as discontinued operations in its condensed consolidated statements of operations for the three and nine months ended December 31, 2022. In connection with the closing of the Link-16 TDL Sale on January 3, 2023, the Company and L3Harris entered into certain ancillary commercial agreements, including certain license agreements for the cross-licensing by each party of certain intellectual property rights relating to the Link-16 TDL Business and the Company’s retained businesses, a supply agreement with respect to the supply of certain Link-16 and related products following the closing, and certain services agreements for the provision of engineering and support services for the transition of the Link-16 TDL Business following the closing, in each case subject to the terms and conditions set forth therein. The impact of these agreements on the Company's condensed consolidated financial statements was not significant. The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the Link-16 TDL Business that have been eliminated from continuing operations. The following table presents key components of “Net income (loss) from discontinued operations, net of tax” for the three and nine months ended December 31, 2022:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, 2022 |  |  | December 31, 2022 |
|  | (In thousands) |
Revenues |  | $ | 62,650 |  |  | $ | 247,069 |
Operating expenses: |  |  |  |  |  |
Cost of revenues |  |  | 41,995 |  |  |  | 157,355 |
Other operating expenses |  |  | 6,878 |  |  |  | 24,062 |
Net income (loss) from discontinued operations before income taxes |  | $ | 13,777 |  |  | $ | 65,652 |
(Provision for) benefit from income taxes |  |  | (9,444 | ) |  |  | (21,607 | )
Net income (loss) from discontinued operations, net of tax |  | $ | 4,333 |  |  | $ | 44,045 |
The cash flows related to discontinued operations have not been segregated and are included in the condensed consolidated statements of cash flows. The following table presents key cash flow and non-cash information related to discontinued operations for the nine months ended December 31, 2022:
|  | Nine Months Ended |
|  | December 31, 2022 |
|  | (In thousands) |
Depreciation |  | $ | 5,909 |
Amortization of intangible assets |  |  | 897 |
Capital expenditures |  |  | 10,950 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration