Assets Held For Sale (Tables)

6 Months Ended

Jun. 29, 2024

Disposal (Line Items)

Schedule of Consideration, Divestitures

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

(In thousands)	March 1, 2024
Cash proceeds received, gross	$	263,208
Preliminary working capital adjustment	1,189
Cash transferred to the buyer on the closing balance sheet	(230)
Direct costs to sell	(8,005)
Fair value of sale consideration	$	256,162

Disposal Groups, Including Discontinued Operations

The carrying amount of net assets associated with the PIM business was approximately $252.8 million. The major classes of assets and liabilities sold consisted of the following:

(In thousands)
Assets:	March 1, 2024
Current assets	$	58,684
Property, plant and equipment, net	118,146
Intangible assets, net	76,692
Goodwill	12,707
Other assets	2,500
Total assets held-for-sale	$	268,729
Liabilities:
Accounts payable	$	9,485
Accrued expenses	4,672
Long-term liabilities	1,737
Total liabilities held-for-sale	$	15,894