Quarterly report pursuant to Section 13 or 15(d)

Compensation Related Costs, Retirement Benefits

v3.21.1
Compensation Related Costs, Retirement Benefits
 3 Months Ended
Mar. 31, 2021
Retirement Benefits [Abstract]  
Retirement Benefits Employee Defined Benefit Retirement Plans
Pension and Other Defined Benefit Retirement Obligations

In connection with the July 31, 2020 acquisition of the Wi-Fi and Broadband assets business (Note 3), the Company assumed an obligation of $7.9 million of the Wi-Fi and Broadband assets business associated with certain defined benefit retirement plans, including a pension plan. As of March 31, 2021 and December 31, 2020, the defined benefit obligation was $6.2 million and $6.4 million, respectively. The benefit is based on a formula applied to eligible employee earnings. Net periodic benefit costs were $0.1 million for the three months ended March 31, 2021 and were recorded to research and development expenses in the consolidated statements of operations.