Restructuring And Other Costs, Net

3 Months Ended

Mar. 30, 2024

Restructuring and Related Activities [Abstract]

13.	Restructuring and Other Costs, Net

During the fourth quarter of fiscal 2021, the Company recorded asset impairment and restructuring charges associated with the sale of the Photonics division including $665,000 in accruals for common area charges associated with an unused space commitment to EOTECH. In consideration of EOTECH’s assumption of certain lease obligations related to the Company’s Santa Clara, California campus, which assumed lease obligations pertain in part to excess space beyond that required by EOTECH’s anticipated operation of the Photonics division, the Company agreed to pay EOTECH the amount of $2.1 million, which was payable in (i) one initial installment of $308,000 on January 10, 2022 and (ii) seven equal quarterly installments of $259,000. The final installment was paid on October 9, 2023.

The changes in restructuring reserves, which resulted from other exit costs associated with the Photonics divestiture for the three months ended April 1, 2023 were as follows.


	Three Months Ended April 1, 2023 Other Exit Costs
	(In thousands)
Balance at December 31, 2022	$	318
Provision for restructuring charges associated with Photonics divestiture (a)		3
Cash payments made		(81	)

Balance at April 1, 2023	$	240

(a)	Included in loss from discontinued operations (See Note 2).