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DIVESTITURE | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
DIVESTITURE | NOTE 4 - DIVESTITURE In December 2024, the Company entered into a definitive agreement with Hexagon AB for the sale of its Geomagic software business ("Geomagic"), which was included in our Industrial Solutions segment. On April 1, 2025, the Company completed the sale of Geomagic and received $119.4 million in cash, which reflected applicable purchase price adjustments under the Asset Purchase Agreement and Business Transfer Agreement. The Company recorded a pre-tax gain of $125.7 million from the sale of Geomagic in the three and six months ended June 30, 2025. No loss was recognized to measure the disposal group at the lower of its carrying value or fair value less costs to sell. The disposal group has not been presented as a discontinued operation in the accompanying condensed consolidated financial statements because the sale of Geomagic does not represent a strategic shift that will have a major effect on the Company’s operations. The Company determined that the associated assets and liabilities met the held for sale criteria in December 2024. The following table summarizes the assets and liabilities of Geomagic:
(in thousands) |  |  | December 31, 2024
Assets |  |  |
Accounts receivable, net |  |  | $ | 765 |
Prepaid expenses and other current assets |  |  | 47 |
Total current assets held for sale |  |  | 812 |
Intangible assets, net |  |  | 917 |
Other assets |  |  | 1,447 |
Total assets held for sale |  |  | $ | 3,176 |
Liabilities |  |  |
Accounts payable |  |  | $ | 491 |
Accrued and other liabilities |  |  | 303 |
Deferred revenue |  |  | 7,197 |
Total current liabilities held for sale |  |  | 7,991 |
Other liabilities |  |  | 2,260 |
Total liabilities held for sale |  |  | $ | 10,251 |

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- 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
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