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Discontinued Operations | 12 Months Ended
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Dec. 28, 2013
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On January 16, 2013, (the Closing Date), the Company sold its III-V product line, including all of the outstanding equity interest in KTC Wireless, LLC, a wholly owned subsidiary of the Company that held the Company's investment in KTC, to IQE KC, LLC (IQE) and IQE plc (Parent, and collectively with IQE, the Buyer) pursuant to a Purchase Agreement (the Purchase Agreement) entered into on January 10, 2013 for an aggregate purchase price of approximately $75 million, subject to certain adjustments, including working capital adjustments and escrow (the Sale). After adjustments for working capital items the final purchase price was $70.2 million of which $55.2 million was paid to the Company in 2013 and the remaining $15 million will be paid to the Company on the third anniversary of the Closing Date. Payment of the $15 million was recorded at its estimated discount value of $14.8 million and is secured by liens on certain assets of the business sold. The operating results of the III-V product line prior to the sale are reported within Income from discontinued operations, net of tax, in the consolidated statement of operations and have been excluded from segment results. The assets and liabilities associated with the III-V product line are presented in current assets held for sale, noncurrent assets held for sale, current liabilities held for sale and noncurrent liabilities held for sale in the Consolidated Balance Sheet as of December 29, 2012. The following table summarizes the results from discontinued operations:
| Fiscal Years Ended (in millions)
| December 28, 2013 |  | December 29, 2012 |  | December 31, 2011
Net product and research and development revenues | $ | 2.3 |  |  | $ | 58.8 |  |  | $ | 66.5 |
(Loss) gain from discontinued operations before income taxes | (0.2 | ) |  | 4.5 |  |  | 5.9 |
(Provision) benefit for income taxes on discontinued operations | — |  |  | (1.7 | ) |  | 3.8 |
Discontinued operations, net of tax | (0.2 | ) |  | 2.8 |  |  | 9.7 |
Gain on sale, net of $13.1 million of tax | 20.4 |  |  | — |  |  | — |
Income from discontinued operations, net of tax | $ | 20.2 |  |  | $ | 2.8 |  |  | $ | 9.7 |
The following table summarizes the assets and the liabilities held for sale in the Company's consolidated balance sheet as of December 29, 2012:
|  | (in millions)
Current assets |  |
Cash and equivalents |  | $ | 2.4 |
Accounts receivable, net of allowance of $0.1 million |  | 7.6 |
Accounts receivable from unconsolidated affiliates |  | 0.6 |
Inventory |  | 10.6 |
Prepaid taxes |  | 0.2 |
Prepaid expenses and other current assets |  | 0.2 |
Total current assets held for sale |  | 21.6 |
Property, plant and equipment, net |  | 25.7 |
Deferred tax assets |  | 3.3 |
Other assets |  | 0.1 |
Total noncurrent assets held for sale |  | 29.1 |
Total assets held for sale |  | $ | 50.7 |
Current liabilities |  |
Accounts payable |  | $ | 3.7 |
Accrued payroll and expenses |  | 1.8 |
Accrued warranty |  | 0.2 |
Other accrued liabilities |  | 1.4 |
Total current liabilities held for sale |  | $ | 7.1 |
Total noncurrent liabilities held for sale |  | $ | 0.6 |

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43-48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: 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=6391110&loc=d3e2941-110230 Reference 3: 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=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 8: 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=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 + Details
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