Discontinued Operations (Tables)

3 Months Ended

Mar. 29, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the summarized components of loss from discontinued operations for the DV business for the three months ended March 29, 2020 and March 31, 2019, and for the EV business for the three months ended March 31, 2019 (in thousands):

	Three Months Ended
	March 29, 2020			March 31, 2019
Net revenues	$	6,237		$	31,540
Cost of revenues	11,358			32,085
Gross loss	(5,121		)	(545		)
Selling, general and administrative expenses	3,139			5,466
Special and restructuring (recoveries) charges, net	(1,328		)	26
Operating loss	(6,932		)	(6,037		)
Other (income) expense:
Interest (income) expense, net	(7		)	86
Other expense, net	5,410			235
Total other expense, net	5,403			321
Loss from discontinued operations, pre tax	(12,335		)	(6,358		)
Benefit from income tax	(21,497		)	(630		)
Income (loss) from discontinued operations, net of tax	$	9,162		$	(5,728	)

Assets Held for Sale

During the quarter ended March 29, 2020, the Company completed the sale of its non-core Instrumentation and Sampling ("I&S") business. See Note 5, Special and Restructuring Recoveries, net for additional information on this divestiture. As of December 31, 2019, the I&S business is reported as "held for sale" within the current assets and current liabilities section of our condensed consolidated balance sheet.

The following table presents the balance sheet information for assets and liabilities held for sale as of March 29, 2020 and December 31, 2019 by business (in thousands):

	March 29, 2020			December 31, 2019
	DV			DV			I&S		Total
Trade accounts receivable, net	$	1,434		$	467		$	9,935	$	10,402
Inventories	46,353			55,521			13,878		69,399
Prepaid expenses and other current assets	2,382			2,867			616		3,483
Property, plant, and equipment, net	5,824			6,742			6,409		13,151
Goodwill	—			—			91,492		91,492
Deferred tax asset	606			778			1,089		1,867
Other assets	6,980			4,793			6,363		11,156
Valuation adjustment on classification to assets held for sale	(36,962		)	(39,757		)	—		(39,757		)
Total assets held for sale	$	26,617		$	31,411		$	129,782	$	161,193
Accounts payable	$	8,314		$	8,708		$	5,997	$	14,705
Accrued and other current liabilities	5,095			5,834			2,192		8,026
Deferred income taxes	228			638			151		789
Other liabilities	12,980			13,931			5,838		19,769
Total liabilities held for sale	$	26,617		$	29,111		$	14,178	$	43,289