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Business Divestiture
9 Months Ended
Sep. 30, 2022
BusinessDivestiture [Abstract]  
Business Divestitures

3. BUSINESS DIVESTITURES

In 2022, the Company executed the sale of three of its non-semiconductor operating subsidiaries and committed to a plan to sell its majority interest in an entity of its Fluid Solutions subsidiary which is classified as held-for-sale and presented in Prepaid expenses and other current assets of the Condensed Consolidated Balance Sheets. This transaction is expected to close during the fourth quarter of 2022. Each of these entities is reported within the Products reportable segment. The purposes of the divestitures is to remain focused on its core semiconductor business. As a result of these divestitures, the Company recorded a net loss of $20.8 million and $77.4 million for the three and nine month periods ended September 30, 2022, respectively, which was recorded in the Condensed Consolidated Statements of Operations. The recorded net loss includes the write-off of intangible assets, net, goodwill and net assets of $27.8 million, $19.7 million and $33.3 million, respectively. Goodwill has been allocated to the divestitures based on the relative fair value of each component in relation to its respective reporting unit. See Note 6 Goodwill and Intangible Assets for further discussion.