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Basis of Presentation | 12 Months Ended
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Dec. 31, 2013
Accounting Policies [Abstract] |
Basis of Presentation |
2) | Basis of Presentation
The consolidated financial statements include the accounts of MKS Instruments, Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition and allowance for doubtful accounts, inventory, warranty costs, stock-based compensation, intangible assets, goodwill, other long-lived assets, in process research and development and other acquisition expenses and income taxes. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Revision of prior period financial statements During the three months ended September 30, 2013, the Company identified a prior period error which affected the previous balance sheets of all interim periods in 2013 and all interim and annual periods in 2012 and 2011 and certain footnote disclosures for annual periods in 2012, 2011 and 2010. The Company previously reported the amounts of its uncertain tax positions on the balance sheets net instead of gross. The Company considered the guidance in Accounting Standards Codification (“ASC”) Topic 740-10-45, Other Presentation Matters and ASC Topic 210-20, Offsetting with respect to this matter. The error had no impact to the income statement, statements of cash flows or the statements of stockholders’ equity of any previously reported periods. In evaluating whether our previously issued consolidated financial statements were materially misstated, the Company considered the guidance in ASC Topic 250, Accounting Changes and Error Corrections, ASC Topic 250-10-S99-1, Assessing Materiality, and ASC Topic 250-10-S99-2, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. The Company concluded this error was not material to the prior reporting periods, or to the 2013 results, and therefore, amendments of previously filed reports were not required. Accordingly, during the three months ended September 30, 2013, the Company recorded these prior period adjustments to correct this error. The revisions for these corrections to the applicable prior periods are reflected in the financial information herein and will be reflected in future filings containing such financial information. The tables below reflect the revisions in the balance sheet line items for the periods ended December 31, 2012.
|  | December 31, 2012 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |
Other assets |  | $ | 11,692 |  |  | $ | 17,720 |  |  | $ | 29,412 |
Other liabilities |  | $ | 43,375 |  |  | $ | 17,720 |  |  | $ | 61,095 |
The tables below reflect the sections in certain footnotes that were affected by the revision for the periods ended December 31, 2012.
|  | December 31, 2012 |
Other Assets |  | As previously reported |  |  | Adjustment |  |  | As revised |
Deferred tax assets, net |  | $ | 9,497 |  |  | $ | — |  |  | $ | 9,497 |
Long-term income tax receivable |  |  | — |  |  |  | 17,720 |  |  |  | 17,720 |
Other |  |  | 2,195 |  |  |  | — |  |  |  | 2,195 |
|  | $ | 11,692 |  |  | $ | 17,720 |  |  | $ | 29,412 |
|  | December 31, 2012 |
Other Liabilities |  | As previously reported |  |  | Adjustment |  |  | As revised |
Long-term income tax payable |  | $ | 20,880 |  |  | $ | 17,720 |  |  | $ | 38,600 |
Accrued compensation |  |  | 18,750 |  |  |  | — |  |  |  | 18,750 |
Other |  |  | 3,745 |  |  |  | — |  |  |  | 3,745 |
|  | $ | 43,375 |  |  | $ | 17,720 |  |  | $ | 61,095 |
|  | December 31, 2012 |
Income Taxes |  | As previously reported |  |  | Adjustment |  |  | As revised |
Current taxes: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 10,431 |  |  | $ | 4,314 |  |  | $ | 14,745 |
State |  |  | 783 |  |  |  | — |  |  |  | 783 |
Foreign |  |  | 12,074 |  |  |  | (4,314 | ) |  |  | 7,760 |
|  | $ | 23,288 |  |  | $ | — |  |  | $ | 23,288 |
|  | December 31, 2011 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |
Current taxes: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 25,824 |  |  | $ | 15,032 |  |  | $ | 40,856 |
State |  |  | 2,602 |  |  |  | — |  |  |  | 2,602 |
Foreign |  |  | 20,346 |  |  |  | (15,032 | ) |  |  | 5,314 |
|  | $ | 48,772 |  |  | $ | — |  |  | $ | 48,772 |
Segment Note A reconciliation of segment assets to consolidated total assets is as follows:
|  | December 31, 2012 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |
Total segment assets |  | $ | 216,699 |  |  | $ | — |  |  | $ | 216,699 |
Cash and cash equivalents and investments |  |  | 627,399 |  |  |  | — |  |  |  | 627,399 |
Other current assets |  |  | 36,242 |  |  |  | — |  |  |  | 36,242 |
Property, plant and equipment, net |  |  | 80,516 |  |  |  | — |  |  |  | 80,516 |
Goodwill and intangible assets, net |  |  | 162,294 |  |  |  | — |  |  |  | 162,294 |
Other assets |  |  | 11,692 |  |  |  | 17,720 |  |  |  | 29,412 |
Consolidated total assets |  | $ | 1,134,842 |  |  | $ | 17,720 |  |  | $ | 1,152,562 |

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