Discontinued Operations

12 Months Ended

Jan. 03, 2021

Discontinued Operations and Disposal Groups [Abstract]

Disposition of Businesses and Assets As part of the Company’s continuing efforts to focus on higher growth opportunities, the Company has discontinued certain businesses. When the discontinued operations represented a strategic shift that will have a major effect on the Company's operations and financial statements, the Company has accounted for these businesses as discontinued operations and accordingly, has presented the results of operations and related cash flows as discontinued operations. Any business deemed to be a discontinued operation prior to the adoption of Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of An Entity, continues to be reported as a discontinued operation, and the results of operations and related cash flows are presented as discontinued operations for all periods presented. Any remaining assets and liabilities of these businesses have been presented separately, and are reflected within assets and liabilities from discontinued operations in the accompanying consolidated balance sheets as of January 3, 2021 and December 29, 2019.

The Company recorded the following pre-tax losses, which have been reported as a net loss on disposition of discontinued operations during the three fiscal years ended:


	January 3, 2021		December 29, 2019		December 30, 2018
	(In thousands)
Loss on disposition of the Medical Imaging business	$	—	$	—	$	(793)

Loss on disposition of Fluid Sciences business	(76)		—		(66)

Loss on disposition of discontinued operations before income taxes	$	(76)	$	—	$	(859)

During fiscal year 2018, the Company completed the sale of substantially all of the assets and liabilities related to its multispectral imaging business for aggregate consideration of $37.3 million, recognizing a pre-tax gain of $13.0 million. The pre-tax gain is included in interest and other expense, net in the consolidated statement of operations. The multispectral imaging business was a component of the Company's Discovery & Analytical Solutions segment. The divestiture of the multispectral imaging business has not been classified as a discontinued operation in this Form 10-K because the disposition does not represent a strategic shift that will have a major effect on the Company's operations and financial statements.

The Company recorded a provision for (benefit from) income taxes of $0.1 million, $0.2 million and $(1.3) million on discontinued operations and dispositions in fiscal years 2020, 2019 and 2018, respectively.