XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.25.3

Divestures | 9 Months Ended
--- | ---
Sep. 27, 2025
Asset Retirement Obligation Disclosure [Abstract] |
Divestures | Divestiture On February 26, 2024, we closed on the sale of operations in China to Grand Junction and received total consideration of $21.4 million, net of cash transferred and transaction expenses, and after customary adjustments for indebtedness and changes in net working capital. The disposition of the China operations did not meet the criteria to be classified as a discontinued operation in our financial statements because the disposition did not represent a strategic shift that had, or will have, a major effect on our operations and financial results. The following table summarizes the fair value of the sale proceeds received in connection with the divestiture (in thousands):
|  | February 26, 2024
Gross purchase price |  | $ | 25,000 |
Working capital adjustment |  | 159 |
Cash transferred to the buyer at closing |  | (2,743) |
Direct costs to sell |  | (986) |
Fair value of sale consideration, net |  | $ | 21,430 |
The carrying amount of net assets associated with the China operations was approximately $1.2 million. The major classes of assets and liabilities sold consisted of the following (in thousands):
|  | February 26, 2024
ASSETS |  |
Accounts receivable, net |  | $ | 1,174 |
Inventories, net |  | 3,729 |
Other current assets |  | 391 |
Total current assets |  | 5,294 |
Property, plant and equipment, net |  | 1,283 |
Goodwill |  | 1,117 |
Other assets |  | 3,029 |
Total assets |  | $ | 10,723 |
LIABILITIES |  |
Deferred revenue |  | $ | 3,739 |
Other current liabilities |  | 1,546 |
Other liabilities |  | 4,283 |
Total liabilities |  | $ | 9,568 |
As a result of the divestiture, we recognized a pre-tax gain of $20.3 million. We recorded income tax expense associated with the divestiture of approximately $3.3 million.

X
- References No definition available. + Details
Name: | us-gaap_AssetRetirementObligationDisclosureAbstract
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