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Business Segment, Geographic Area, Product and Significant Customer Information (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Net Revenues, Assets and Goodwill by Reportable Segment

The following table sets forth net revenues by reportable segment:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2017				2016				2017				2016
Vacuum & Analysis		$	308,176			$	229,167			$	895,979			$	620,207
Light & Motion			178,091				151,493				508,198				269,995
		$	486,267			$	380,660			$	1,404,177			$	890,202

The following table sets forth segment assets by reportable segment:

September 30, 2017:		Vacuum & Analysis				Light & Motion				Corporate, Eliminations & Other				Total
Segment assets:
Accounts receivable		$	196,149			$	108,223			$	(24,070	)		$	280,302
Inventory, net			190,252				129,208				—				319,460
Total segment assets		$	386,401			$	237,431			$	(24,070	)		$	599,762
December 31, 2016:		Vacuum & Analysis				Light & Motion				Corporate, Eliminations & Other				Total
Segment assets:
Accounts receivable		$	148,516			$	121,516			$	(21,275	)		$	248,757
Inventory, net			165,040				110,829				—				275,869
Total segment assets		$	313,556			$	232,345			$	(21,275	)		$	524,626

Goodwill associated with each of our reportable segments is as follows:

		September 30, 2017				December 31, 2016
Reportable segment:
Vacuum & Analysis		$	196,885			$	199,453
Light & Motion			392,214				389,132
Total goodwill		$	589,099			$	588,585

Reconciliation of Segment Gross Profit to Consolidated Net Income

The following table sets forth a reconciliation of segment gross profit to consolidated net income:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2017				2016				2017				2016
Gross profit by reportable segment:
Vacuum & Analysis		$	141,438			$	104,232			$	410,228			$	273,004
Light & Motion			86,557				64,153				242,897				109,207
Total gross profit by reportable segment			227,995				168,385				653,125				382,211
Operating expenses:
Research and development			32,548				32,268				99,510				77,709
Selling, general and administrative			71,839				68,016				218,038				161,545
Acquisition and integration costs			2,466				2,641				4,698				25,190
Restructuring			10				—				2,596				24
Asset impairment			—				—				6,719				—
Amortization of intangible assets			10,977				12,452				34,946				22,990
Income from operations			110,155				53,008				286,618				94,753
Gain on sale of business			—				—				74,856				—
Interest and other (expense), net			(8,784	)			(10,760	)			(24,846	)			(16,332	)
Income before income taxes			101,371				42,248				336,628				78,421
Provision for income taxes			25,377				9,699				75,134				19,099
Net income		$	75,994			$	32,549			$	261,494			$	59,322

Schedule of Capital Expenditures, Depreciation and Amortization Expense of Intangible Assets by Reportable Segment

The following table sets forth capital expenditures by reportable segment for the three and nine months ended September 30, 2017 and 2016:

		Vacuum & Analysis				Light & Motion				Total
Three Months Ended September 30, 2017:
Capital expenditures		$	4,212			$	3,906			$	8,118
Nine Months Ended September 30, 2017:
Capital expenditures		$	10,114			$	7,743			$	17,857
Three Months Ended September 30, 2016:
Capital expenditures		$	2,772			$	1,923			$	4,695
Nine Months Ended September 30, 2016:
Capital expenditures		$	7,964			$	3,995			$	11,959

The following table sets forth depreciation and amortization by reportable segment for the three and nine months ended September 30, 2017 and 2016:

		Vacuum & Analysis				Light & Motion				Total
Three Months Ended September 30, 2017:
Depreciation and amortization		$	5,058			$	15,071			$	20,129
Nine Months Ended September 30, 2017:
Depreciation and amortization		$	15,277			$	47,273			$	62,550
Three Months Ended September 30, 2016:
Depreciation and amortization		$	5,142			$	16,907			$	22,049
Nine Months Ended September 30, 2016:
Depreciation and amortization		$	15,628			$	28,129			$	43,757

Reconciliation of Segment Assets to Consolidated Total Assets

The following table sets forth a reconciliation of segment assets to consolidated total assets:

		September 30, 2017				December 31, 2016
Total segment assets		$	599,762			$	524,626
Cash and cash equivalents, restricted cash and investments			545,318				433,231
Other current assets			60,716				50,770
Property, plant and equipment, net			166,928				174,559
Goodwill and intangible assets, net			965,433				996,589
Other assets			32,188				32,467
Consolidated total assets		$	2,370,345			$	2,212,242

Schedule of Net Revenues and Long-Lived Assets by Geographic Regions

Transfers between geographic areas are at negotiated transfer prices and have been eliminated from consolidated net revenues.

		Three Months Ended September 30,								Nine Months Ended September 30,
		2017				2016				2017				2016
Net revenues:
United States		$	237,592			$	198,305			$	700,291			$	460,994
Korea			60,908				32,642				165,613				79,240
Japan			38,411				26,970				113,068				68,738
Asia (excluding Korea and Japan)			94,084				75,179				273,957				173,526
Europe			55,272				47,564				151,248				107,704
		$	486,267			$	380,660			$	1,404,177			$	890,202

		September 30, 2017				December 31, 2016
Long-lived assets:(1)
United States		$	116,607			$	122,547
Europe			28,516				28,717
Asia			48,091				49,406
		$	193,214			$	200,670

⁽¹⁾  Long-lived assets include property, plant and equipment, net and certain other long-term assets, excluding long-term tax related accounts.

Worldwide Net Revenue for Each Group of Products

The following table sets forth worldwide net revenue for each group of products:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2017				2016				2017				2016
Analytical and Control Solutions Products		$	33,068			$	29,989			$	97,689			$	80,754
Materials Delivery Solutions Products			45,614				36,243				136,366				97,914
Power, Plasma and Reactive Gas Solutions Products			148,194				98,772				413,633				259,731
Pressure and Vacuum Measurement Products			81,300				64,163				248,291				181,808
Lasers Products			56,623				45,597				153,866				83,533
Optics Products			52,548				44,331				149,759				79,594
Photonics Products			68,920				61,565				204,573				106,868
		$	486,267			$	380,660			$	1,404,177			$	890,202

Customers with Net Revenues Greater than 10% of Total Net Revenues

The Company had two customers with net revenues greater than 10% of total net revenues in the periods shown below:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2017				2016				2017				2016
Applied Materials, Inc.			12	%			12	%			13	%			14	%
LAM Research Corporation			11	%			9	%			12	%			11	%

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