Discontinued Operations (Tables)

9 Months Ended

Sep. 27, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the operating results of the disposal group up to the July 2, 2020 disposal date for the three and nine months ended September 27, 2020 and September 29, 2019, respectively:

	Three Months Ended				Nine Months Ended
	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019
	(In thousands)
Revenues	$	1,334	$	87,221	$	109,195	$	263,434
Cost of sales	(1,008)		(50,622)		(70,199)		(153,012)
Gross profit	326		36,599		38,996		110,422
Selling, general and administrative expenses	(574)		(21,924)		(37,435)		(66,785)
Research and development expenses	(610)		(7,360)		(15,083)		(28,526)
Amortization of intangibles	—		(3,218)		—		(11,695)
Asset impairment of discontinued operations	—		(342,146)		(113,007)		(342,146)
Interest expense, net	(12)		(198)		(432)		(611)
Non-operating pension benefit (cost)	27		(55)		(169)		(166)
Loss before taxes	$	(843)	$	(338,302)	$	(127,130)	$	(339,507)

The following table provides the major classes of assets and liabilities of the disposal group as of December 31, 2019:

	December 31, 2019
	(In thousands)
Assets:
Cash and cash equivalents	$	18,405
Receivables, net	117,386
Inventories, net	55,002
Other current assets	35,187
Plant, property, and equipment, less accumulated depreciation	61,233
Operating lease right-of-use assets	16,902
Goodwill	26,707
Intangible assets, less accumulated depreciation	143,459
Deferred income taxes	59,560
Other long-lived assets	21,652
Impairment of disposal group	(180,358)
Total Assets of discontinued operations	$	375,135
Liabilities:
Accounts payable	$	52,425
Accrued liabilities	83,349
Postretirement benefits	6,224
Deferred income taxes	2,740
Long-term operating lease liabilities	20,459
Other long-term liabilities	5,082
Total Liabilities of discontinued operations	$	170,279