Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

(26) Subsequent Events

On January 1, 2021, the Company completed the sale of 100% of the issued and outstanding equity interests of Cimatron Ltd., the subsidiary that operated the Company’s Cimatron integrated CAD/CAM software for tooling business and its GibbsCAM CNC programming software business for approximately $64,200, after certain adjustments and excluding $9,161 of cash amounts transferred to the purchaser.

Using a portion of the proceeds from the sale, the Company paid off the remaining outstanding balances under its Term Facility, $21,392. The Company also terminated the ATM Program.

In January 2021, the Company terminated the interest rate swap agreement in connection with repayment of the Term Facility.

On February 2, 2021, the Company received two private letter rulings from the IRS, which triggered the release of a reserve for uncertain tax position of $8,900 in the first quarter of 2021.

On February 25, 2021, the Company entered into an agreement to amend its lease for its corporate office and extended the term. As part of this amendment, the Company entered into a lease agreement for a new building, containing approximately 80,000 to 100,000 rentable square feet, to be constructed adjacent to our corporate office. The initial lease terms for both the existing building and the expansion site extend through August 2036.