Disposals

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposals

Disposals

Tripwire

On February 22, 2022, we sold Tripwire for gross cash consideration of $350.0 million. The divestiture of Tripwire represented a strategic shift impacting our operations and financial results. As a result, the Tripwire disposal group, which was included in our Automation Solutions segment, is reported within discontinued operations. We recognized a loss on disposal of discontinued operations, net of tax of $9.2 million during 2022. The following table summarizes the operating results of the Tripwire disposal group up to the February 22, 2022 disposal date:

	January 1 - February 22, 2022
	(In thousands)
Revenues	$	12,067
Cost of sales	(3,256)
Gross profit	8,811
Selling, general and administrative expenses	(8,185)
Research and development expenses	(5,528)
Amortization of intangible assets	(638)
Loss before taxes	$	(5,540)

From January 1, 2022 to February 22, 2022, the Tripwire disposal group did not have any significant capital expenditures nor non-cash charges for investing activities and recognized share-based compensation expense of $0.2 million.