Acquisitions |
6 Months Ended |
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Jun. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Acquisitions | Acquisitions Acquisition of certain assets ("Timing business") from Renesas Electronics America Inc. ("Renesas") On February 4, 2026, the Company entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Renesas, pursuant to which the Company agreed to acquire, subject to the terms and conditions set forth in the Asset Purchase Agreement, all of Renesas' right, title and interest in, to and under certain assets related to the timing business of Renesas Electronics Corporation. On July 1, 2026, the Company completed the acquisition (the “Acquisition”) in accordance with the Asset Purchase Agreement, for an aggregate purchase price of approximately $1,500.0 million paid in cash and 3,558,691 shares of the Company’s common stock. The Company has performed a preliminary evaluation of the acquired set of activities and assets and concluded that the Acquisition constitutes a business within the scope of ASC 805, Business Combinations. Accordingly, the transaction will be accounted for as a business combination using the acquisition method of accounting. The Company is in the process of evaluating the fair values of the assets acquired and liabilities assumed and has not completed the initial accounting for the Acquisition. Accordingly, the Company is unable to provide certain disclosures required by ASC 805, including the preliminary allocation of purchase consideration, the amount of goodwill expected to be recognized, and the amounts attributable to identifiable intangible assets. The Company will include the required disclosures in future filings once the valuation procedures and related analyses have been completed.
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