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

9 Months Ended

Sep. 26, 2020

Impairment or Disposal of Tangible Assets Disclosure [Abstract]

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

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 Accounting Standards Codification ("ASC") topic 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 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 loss on disposition of business, net, of $14,573, primarily related to the reclassification of cumulative translation adjustment to earnings upon the sale.