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Subsequent Event
6 Months Ended
Jul. 03, 2021
Subsequent Event  
Subsequent Event

13. Subsequent Event

On April 22, 2021, the Company entered into an Asset Purchase Agreement (the “Agreement”) pursuant to which Skyworks Solutions, Inc. agreed to acquire certain assets, rights, and properties, and assume certain liabilities, comprising the Company’s infrastructure and automotive business for $2.75 billion in cash. The sale was completed pursuant to the terms of the Agreement on July 26, 2021. The Company expects to record a gain on sale, net of income tax, of approximately $2.1 billion in its third fiscal quarter of 2021 upon the close of the sale.