Quarterly report pursuant to Section 13 or 15(d)

Assets and Liabilities Held for Sale

v3.22.1
Assets and Liabilities Held for Sale
3 Months Ended
Mar. 31, 2022
Discontinued Operations And Disposal Groups [Abstract]  
Assets and Liabilities Held for Sale

7.

Assets and Liabilities Held for Sale

In January 2022, we entered into an asset purchase agreement with FDB and, for certain limited purposes, FUJIFILM Holdings America Corporation, to sell all of the Company’s right, title and interest in and to certain assets and liabilities related to the ATOM facility for $100 million in cash, subject to potential post-closing adjustments pursuant to the asset purchase agreement. As a result, certain assets and liabilities related to the ATOM facility were classified as held for sale. Upon classification as held for sale, we assessed the disposal group’s fair value less costs to sell and determined that no impairment existed. The operations of the ATOM facility did not meet the criteria to be presented as discontinued operations. The closing of the Fujifilm Transaction occurred on April 4, 2022, at which time, we received the $100 million of cash and assigned the lease for the ATOM Facility to FDB in connection with the closing of the Fujifilm Transaction. The carrying amounts of the assets and liabilities classified as held for sale as of March 31, 2022 included the following; 

 

 

March 31,

 

 

 

2022

 

 

 

(in thousands)

 

Prepaid expenses and other current assets

 

$

190

 

Total current assets held for sale

 

$

190

 

 

 

 

 

 

Property and equipment, net

 

$

44,791

 

Operating lease assets

 

 

6,599

 

Other assets

 

 

39

 

Total long-term assets held for sale

 

$

51,429

 

 

 

 

 

 

Other current liabilities

 

$

252

 

Total current liabilities held for sale

 

$

252

 

 

 

 

 

 

Operating lease liabilities - long-term

 

$

7,373

 

Other long-term liabilities

 

 

960

 

Total long-term liabilities held for sale

 

$

8,333