Discontinued Operations

12 Months Ended

Dec. 30, 2023

Discontinued Operations.

Discontinued Operations

3. Discontinued Operations

On July 26, 2021, the Company sold its infrastructure and automotive business to Skyworks Solutions, Inc. for $2.75 billion in cash. The financial results of the infrastructure and automotive business, which are readily distinguishable from other components of the Company, have been presented as discontinued operations in the Consolidated Financial Statements because the sale represented a strategic shift for the Company.

The following table presents the financial results of the infrastructure and automotive business (the “discontinued operations”) in the Company’s Consolidated Statements of Income for the year ended January 1, 2022 (in thousands, except per share data):

Revenues	$	233,918
Costs of revenues		95,457
Operating expenses		46,643
Operating income from discontinued operations		91,818
Gain on sale of discontinued operations		2,423,161
Income from discontinued operations before income taxes		2,514,979
Provision for income taxes		339,706
Income from discontinued operations	$	2,175,273
Income from discontinued operations per share:
Basic	$	50.79
Diluted	$	49.09