XML 33 R22.htm IDEA: XBRL DOCUMENT v3.25.3
Sale of Assets
9 Months Ended
Sep. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Sale of Assets
12. Sale of Assets
On June 10, 2024, the Company sold Ayers Group, a division of the ETM segment, for a purchase price of $7.5 million, subject to final closing adjustments. The Company received cash proceeds of $4.5 million in the second quarter of 2024, representing the purchase price less the value of rights to certain receivables and deferred revenue retained by the Company, net of working capital adjustments in accordance with the agreement. As of the date of the sale, the net carrying value of the assets was a credit balance of $1.0 million. In the third quarter of 2024, a post-close net working capital adjustment of $0.1 million was recorded in (gain) loss on sale of assets in the consolidated statements of earnings. A gain of $5.4 million was recorded in (gain) loss on sale of assets for the nine months ended September 29, 2024 in the consolidated statements of earnings. The sale was a part of the Company's ongoing strategy to further optimize its operating model.