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Segment and Geographic Data (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Revenue by Geographic Region Based on Delivery Location | Geographic information about revenue, based on customer location, is as follows:
| Years Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
U.S. | $ | 1,548.2 |  |  | $ | 1,287.0 |  |  | $ | 942.3 |
International | 523.4 |  |  | 410.1 |  |  | 363.0 |
Total revenue | $ | 2,071.6 |  |  | $ | 1,697.1 |  |  | $ | 1,305.3 |
Schedule of Selected Financial Information for the Company’s Single Operating Segment, Including Significant Expenses | The following table presents selected financial information for the Company’s single operating segment, including significant expenses:
| Years Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Total revenue | 2,071.6 |  |  | 1,697.1 |  |  | 1,305.3 |
Materials(1) | 296.7 |  |  | 261.3 |  |  | 198.0 |
Factory conversion(2) | 176.9 |  |  | 151.2 |  |  | 125.7 |
Depreciation and amortization(3) | 25.9 |  |  | 26.3 |  |  | 21.9 |
Other costs of revenue(4) | 126.4 |  |  | 98.4 |  |  | 154.1 |
Cost of revenue | 625.9 |  |  | 537.2 |  |  | 499.7 |
Labor(5) | 478.4 |  |  | 398.4 |  |  | 343.7 |
Outside services(6) | 260.5 |  |  | 225.4 |  |  | 157.6 |
Depreciation and amortization | 47.0 |  |  | 40.7 |  |  | 28.9 |
Other operating expenses(7) | 350.9 |  |  | 275.4 |  |  | 237.8 |
Operating income | 308.9 |  |  | 220.0 |  |  | 37.6 |
Interest expense, net | (3.2) |  |  | (7.6) |  |  | (26.7) |
Other (expense) income, net | (5.5) |  |  | 2.2 |  |  | (1.1) |
Income tax benefit (expense) | 118.1 |  |  | (8.3) |  |  | (5.2) |
Net income | $ | 418.3 |  |  | $ | 206.3 |  |  | $ | 4.6 |
(1) Consists of raw materials utilized included in cost of revenue. (2) Consists of manufacturing labor, factory overhead and depreciation of plant and equipment primarily at our Acton manufacturing plant. (3) Consists of depreciation and amortization included in cost of revenue, except for depreciation of plant and equipment included in factory conversion as described in Note 2. (4) Consists primarily of warranty expense, cost to manufacture Controllers/PDMs, provision for inventory reserves, cost of data plans and licensing, and costs to train users. (5) Consists of labor expenses included in research and development expenses and selling, general and administrative expenses, excluding stock-based compensation expense. (6) Consists primarily of contract labor and professional and consulting fees. (7) Consists primarily of advertising expense, license fees, stock-based compensation expense and travel and expenses.
Schedule of Long-lived assets, Net, Excluding Goodwill and Other Intangible Assets by Geographic Area | Geographic information about long-lived assets, net, excluding goodwill and other intangible assets is as follows:
| As of December 31,
(in millions) | 2024 |  | 2023
U.S. | $ | 475.9 |  |  | $ | 461.3 |
Malaysia | 159.1 |  |  | 113.7 |
China | 78.5 |  |  | 82.0 |
Other | 9.6 |  |  | 7.9 |
Total long-lived assets, net | $ | 723.1 |  |  | $ | 664.9 |

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- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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