Discontinued Operations

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

On August 9, 2017, we completed the sale of our high speed optical receivers ("HSOR") business, which was part of our Products and Licensing segment, to an unaffiliated third party for an initial purchase price of $33.5 million, of which $29.5 million in cash was received, and $4.0 million was placed into escrow until December 15, 2018 for possible working capital adjustments to the purchase price and potential satisfaction of certain post-closing indemnification obligations (the "Transaction"). As of December 31, 2019, $1.5 million of the escrow had been received with $2.5 million remaining in escrow pending resolution of a dispute. In March 2020, we settled the dispute resulting in us receiving $0.6 million and the buyer receiving $1.9 million. We have recorded a loss from discontinued operations of $1.4 million, net of tax benefit, for the three months ended March 31, 2020, to reflect the settlement of the dispute. There were no results from discontinued operations for the three months ended March 31, 2019.

The following table presents a summary of the transactions related to the sale of the HSOR business in the three months ended March 31, 2020:



	Three Months Ended March 31, 2020
(in thousands)
Settlement of HSOR receivable	$	1,900
Loss on sale	1,900

Allocated income tax benefit	(464		)
Loss from discontinued operations, net of related income tax	$	1,436