Impairments of Long-Lived Assets and Loss on Disposition

9 Months Ended

Sep. 28, 2019

Impairment or Disposal of Tangible Assets Disclosure [Abstract]

Impairments of Long-Lived Assets and Loss on Disposition[Text Block]

Impairment of Long-Lived Assets and Loss on Disposition of Businesses

During the second quarter of 2019, the company committed to a plan to close its personal computer and mobility asset disposition business within the global components business segment. In light of the plan, the company performed an impairment analysis of the long-lived assets of the personal computer and mobility asset disposition business in accordance with ASC 360 and recorded a pre-tax impairment charge of $74,908 to write-down certain assets of the personal computer and mobility asset disposition business to estimated fair value in the second quarter of 2019. During the third quarter and first nine months of 2019, the company also recorded $253 and $7,163, respectively, in impairment charges related to various other fixed assets, unrelated to the personal computer and mobility asset disposition business.

During the third quarter of 2019, the company completed the disposition of two foreign subsidiaries related to the personal computer and mobility asset disposition business. As a result of the disposition, the company recognized a net loss of $14,573, primarily related to the reclassification of cumulative translation adjustment to earnings upon the sale.