Discontinued Operations

6 Months Ended

Jun. 30, 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 Lightwave segment (and which was previously included in our Products and Licensing segment in prior periods), 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 six months ended June 30, 2020, to reflect the settlement of the dispute. There were no results from discontinued operations for the three months ended June 30, 2020 and 2019 or for the six months ended June 30, 2019.

The following table presents a summary of the transactions related to the sale of the HSOR business for the six months ended June 30, 2020:


	Six Months Ended June 30, 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