Assets Held For Sale (Tables)

3 Months Ended

Apr. 01, 2023

PIM [Member]

Disposal (Line Items)

Disclosure of Long-Lived Assets Held-for-sale

Assets-held-for sale comprise the following as of April 1, 2023:

(In thousands)
Assets:	April 1, 2023
Accounts Receivable	$	25,838
Inventory	23,674
Other current assets	396
Property, Plant and Equipment, net	109,865
Intangible assets, net	76,692
Goodwill	10,213
Other assets	1,254
Total assets-held-for sale	$	247,932
Liabilities:
Accounts payable	$	4,829
Accrued expenses	5,447
Long-term liabilities	1,341
Total liabilities-held-for sale	$	11,617

QED [Member]

Disposal (Line Items)

Schedule of Business Acquisitions by Acquisition, Consideration

The following table summarizes the fair value of the sale proceeds received in connection with the divestiture, which are subject to further post-closing adjustment:

(In thousands)	April 1, 2023
Fair value of sale consideration	$	137,500
Preliminary working capital adjustment	1,602
Cash transferred to the buyer on the closing balance sheet	(1,465)
Direct costs to sell	(2,780)
Fair value of sale consideration	$	134,857

Schedule of Noncash or Part Noncash Divestitures

The following table summarizes the different components of net proceeds received from the QED business divestiture presented under Cash flows from investing activities:

(In thousands)	April 1, 2023
Fair value of sale consideration	$	134,857
Amount held in escrow	1,330
Net sales proceeds received from business divestiture	$	133,527

Disposal Groups, Including Discontinued Operations

The major classes of assets and liabilities sold consisted of the following:

(In thousands)	April 1, 2023
Assets:
Trade accounts receivable, net	$	4,818
Inventories, net	8,658
Other current assets	5,743
Property, plant and equipment, net	2,663
Goodwill	89,271
Intangible assets, net	48,661
ROU assets	806
Other long-term assets	37
Total assets	$	160,657
Liabilities:
Accounts payable	$	1,340
Short-term lease obligation	271
Accrued expenses and other current liabilities	6,922
Payroll and related costs	1,557
Long-term lease obligation	517
Other long-term liabilities	1,551
Total liabilities	$	12,158