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Note 7 - Assets Held for Sale
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Long-lived Assets Held for Sale Disclosure [Text Block]
NOTE
7—ASSETS
HELD FOR SALE
 
In
July 2015,
the Company announced a restructuring plan that included the closure of its Johor, Malaysia facility effective
August 2, 2015.
Subsequent to the announcement, the Company engaged advisors and was actively trying to sell its land-use right, building and other fixed assets located at the facility. During
2016,
the Company entered into a definitive Purchase and Sale Agreement for the land-use right and the building for a purchase price of
RM25,000
(approximately
$6,050
as of
December 31, 2018).
Closing of the transaction was subject to customary conditions to closing of transactions of this type, including the approval of the Johor Port Authority (“JPA”). On
July 31, 2017,
the Company received a notice from the purchaser purporting to terminate the agreement, alleging that the JPA was seeking to impose certain conditions on the approval of the transfer of the facility to the purchaser that it found unacceptable. The Company was
not
successful in removing those conditions, and the agreement terminated.
 
On
November 1, 2018,
the Company received a non-binding letter of intent from a potential buyer for its Johor, Malaysia facility for
RM22,500
(approximately
$5,336,
after realtor fees, as of
December 31, 2018)
and subsequently entered into a Purchase and Sale Agreement with this buyer effective
January 10, 2019.
The agreement provides that the closing of the sale is subject to various customary and regulatory approvals and conditions, including the approval of the JPA. The agreement further provides that if the conditions to the closing are
not
net and the closing does
not
occur within
six
months either party
may
terminate the agreement. The sale of the property is part of the Company’s focus to reduce its footprint and operating costs.
 
In accordance with ASC
360
-Property, Plant and Equipment, the Company assessed the asset group attributed to the sale for impairment. Based upon the Company’s assessment of the status of the Malaysia property, plant and equipment, all of the requirements (including the held for sale requirements) set forth in ASC
360
-
10
-
45
-
9
were met and the assets were classified on the Consolidated Balance Sheet as of
December 31, 2018
and
December 
31,
2017
as assets held for sale. An impairment loss of
$819
was recorded in the Company’s Consolidated Statement of Comprehensive (Loss) Income in other expense, net during
2018.
An impairment gain of
$65,
related to the foreign currency fluctuation of the Malaysian ringgit, was recorded in the Company’s consolidated statement of comprehensive loss in other expense, net during
2017.