Discontinued Operations (Tables)

6 Months Ended

Jul. 03, 2021

Discontinued Operations

Schedule of financial results, assets and liabilities from discontinued operations

The following table presents the financial results of the infrastructure and automotive business (the “discontinued operations”) in the Company’s condensed consolidated statements of operations (in thousands):

	Three Months Ended				Six Months Ended
	July 3,		July 4,		July 3,		July 4,
	2021		2020		2021		2020
Revenues	$	108,064	$	93,183	$	205,712	$	190,042
Costs of revenues and operating expenses		70,143		54,352		130,917		113,948
Income from discontinued operations before income taxes		37,921		38,831		74,795		76,094
Provision (benefit) for income taxes		(502)		4,609		(2,293)		8,237
Income from discontinued operations	$	38,423	$	34,222	$	77,088	$	67,857
Income from discontinued operations per share:
Basic	$	0.86	$	0.78	$	1.73	$	1.55
Diluted	$	0.84	$	0.78	$	1.68	$	1.53

2. Discontinued Operations (Continued)

The following table summarizes the assets and liabilities of the infrastructure and automotive business held for sale (in thousands):

	July 3,		January 2,
	2021		2021
Assets
Inventories	$	30,176	$	18,801
Prepaid expenses and other current assets		1,876		2,204
Goodwill		255,543		255,543
Other assets		9,947		9,772
Total assets held for sale	$	297,543	$	286,321
Liabilities
Other current liabilities	$	699	$	433
Other non-current liabilities		—		451
Total liabilities held for sale	$	699	$	884