Balance Sheet Information

6 Months Ended

Jun. 26, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Balance Sheet Information

3. BALANCE SHEET INFORMATION

Inventories consisted of the following:

	June 26,		December 27,
(In millions)	2020		2019
Raw materials	$	116.4	$	99.9
Work in process		63.7		57.6
Finished goods		13.7		14.9
Total	$	193.8	$	172.4

Property, plant and equipment, net, consisted of the following:

	Useful Life	June 26,			December 27,
(In millions)	(in years)	2020			2019
Land		$	4.4		$	4.8
Buildings	50		33.5			36.9
Machinery and equipment	5-10		64.8			58.1
Leasehold improvements	*		45.1			41.8
Computer equipment and software	3-10		39.6			32.1
Furniture and fixtures	5		4.3			4.4
			191.7			178.1
Accumulated depreciation			(68.3	)		(56.7	)
Construction in progress			24.7			23.9
Total		$	148.1		$	145.3

* Lesser of estimated useful life or remaining lease term

Restructuring

During the first quarter of fiscal year 2020, the Company made a strategic decision to fully integrate QGT’s corporate office responsibilities from Quakertown, PA to UCT’s corporate office in Hayward, CA. As a result, the Company recorded a restructuring charge of $0.9 million and $1.9 million for the three and six months ended June 26, 2020, respectively, in general and administrative expense, primarily related to employee severance as well as the impaired value of the facility lease and losses on sale of equipment.