Divestitures

3 Months Ended

May 01, 2022

Discontinued Operations and Disposal Groups [Abstract]

Divestitures

Divestiture

The Company determined that its high reliability discrete diodes and assemblies business (the “Disposal Group”) met the held for sale criteria as of May 1, 2022 and, as a result, related assets for this business were classified as "Assets held for sale" and related liabilities for this business were classified as "Liabilities held for sale" in the Balance Sheets as of May 1, 2022. The Company reclassified $0.8 million of goodwill to assets held for sale based on the relative fair value of the Disposal Group and the portion of the Wireless and Sensing reporting unit that will be retained. The estimated fair value of the Disposal Group less estimated costs to sell exceeded its carrying amount as of May 1, 2022. As the sale of the Disposal Group is not considered a strategic shift that will have a major effect on the Company’s operations or financial results, it is not reported as discontinued operations.

The following table summarizes the Company's assets and liabilities held for sale by major class:

	May 1, 2022
(in thousands)
Assets:
Inventories	$	6,390
Property, plant and equipment, net	1,182
Goodwill	835
Other	658
Total assets held for sale	$	9,065
Liabilities:
Accounts payable	$	483
Accrued liabilities	759
Total liabilities held for sale	$	1,242