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v3.19.1

Business Segment, Geographic Area, Product and Significant Customer Information (Tables) | 3 Months Ended
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Mar. 31, 2019
Segment Reporting [Abstract] |
Net Revenues, Assets and Goodwill by Reportable Segment | The following table sets forth net revenues by reportable segment:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Vacuum & Analysis |  | $ | 234,355 |  |  | $ | 348,344 |
Light & Motion |  |  | 193,988 |  |  |  | 205,931 |
Equipment & Solutions |  |  | 35,218 |  |  |  | — |
|  | $ | 463,561 |  |  | $ | 554,275 |
The following table sets forth segment assets by reportable segment:
March 31, 2019: |  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Corporate, Eliminations & Other |  |  | Total |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 160,040 |  |  | $ | 139,592 |  |  | $ | 51,088 |  |  | $ | (14,730 | ) |  | $ | 335,990 |
Inventory, net |  |  | 225,431 |  |  |  | 164,603 |  |  |  | 85,690 |  |  |  | (91 | ) |  |  | 475,633 |
Total segment assets |  | $ | 385,471 |  |  | $ | 304,195 |  |  | $ | 136,778 |  |  | $ | (14,821 | ) |  | $ | 811,623 |
December 31, 2018: |  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Corporate, Eliminations & Other |  |  | Total |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 171,604 |  |  | $ | 140,658 |  |  | $ | — |  |  | $ | (16,808 | ) |  | $ | 295,454 |
Inventory, net |  |  | 222,965 |  |  |  | 161,658 |  |  |  | — |  |  |  | 66 |  |  |  | 384,689 |
Total segment assets |  | $ | 394,569 |  |  | $ | 302,316 |  |  | $ | — |  |  | $ | (16,742 | ) |  | $ | 680,143 |
Goodwill associated with each of the Company’s reportable segments is as follows:
|  | March 31, 2019 |  |  | December 31, 2018 |
Reportable segment: |  |  |  |  |  |  |  |
Vacuum & Analysis |  | $ | 196,937 |  |  | $ | 197,126 |
Light & Motion |  |  | 388,896 |  |  |  | 389,870 |
Equipment & Solutions |  |  | 471,498 |  |  |  | — |
Total goodwill |  | $ | 1,057,331 |  |  | $ | 586,996 |
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 March 31, |
|  | 2019 |  |  | 2018 |
Gross profit by reportable segment: |  |  |  |  |  |  |  |
Vacuum & Analysis |  | $ | 98,139 |  |  | $ | 158,500 |
Light & Motion |  |  | 92,741 |  |  |  | 104,355 |
Equipment & Solutions |  |  | 7,238 |  |  |  | — |
Total gross profit by reportable segment |  |  | 198,118 |  |  |  | 262,855 |
Operating expenses: |  |  |  |  |  |  |  |
Research and development |  |  | 38,933 |  |  |  | 34,857 |
Selling, general and administrative |  |  | 82,455 |  |  |  | 82,949 |
Fees and expenses related to incremental term loan |  |  | 5,847 |  |  |  | — |
Acquisition and integration costs |  |  | 30,167 |  |  |  | — |
Restructuring |  |  | 223 |  |  |  | 1,220 |
Customer contract obligation |  |  | 1,700 |  |  |  | — |
Environmental costs |  |  | — |  |  |  | 1,000 |
Amortization of intangible assets |  |  | 15,727 |  |  |  | 11,190 |
Income from operations |  |  | 23,066 |  |  |  | 131,639 |
Interest and other expense, net |  |  | 7,730 |  |  |  | 4,897 |
Income before income taxes |  |  | 15,336 |  |  |  | 126,742 |
Provision for income taxes |  |  | 2,881 |  |  |  | 21,621 |
Net income |  | $ | 12,455 |  |  | $ | 105,121 |
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 months ended March 31, 2019 and 2018:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Total |
Three Months Ended March 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 7,488 |  |  | $ | 5,154 |  |  | $ | 1,887 |  |  | $ | 14,529 |
Three Months Ended March 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 6,197 |  |  | $ | 3,193 |  |  | $ | — |  |  | $ | 9,390 |
The following table sets forth depreciation and amortization by reportable segment for the three months ended March 31, 2019 and 2018:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Total |
Three Months Ended March 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 4,045 |  |  | $ | 14,140 |  |  | $ | 7,026 |  |  | $ | 25,211 |
Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 5,129 |  |  | $ | 15,363 |  |  | $ | — |  |  | $ | 20,492 |
Reconciliation of Segment Assets to Consolidated Total Assets | The following is a reconciliation of segment assets to consolidated total assets:
|  | March 31, 2019 |  |  | December 31, 2018 |
Total segment assets |  | $ | 811,623 |  |  | $ | 680,143 |
Cash and cash equivalents and investments |  |  | 472,692 |  |  |  | 728,461 |
Other current assets |  |  | 86,387 |  |  |  | 65,790 |
Property, plant and equipment, net |  |  | 251,424 |  |  |  | 194,367 |
Right-of-use asset |  |  | 65,628 |  |  |  | — |
Goodwill and intangible assets, net |  |  | 1,676,422 |  |  |  | 906,803 |
Other assets |  |  | 48,562 |  |  |  | 38,682 |
Consolidated total assets |  | $ | 3,412,738 |  |  | $ | 2,614,246 |
Schedule of Net Revenues and Long-Lived Assets by Geographic Regions | Transfers between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Net revenues: |  |  |  |  |  |  |  |
United States |  | $ | 224,347 |  |  | $ | 276,720 |
Korea |  |  | 35,802 |  |  |  | 54,011 |
Japan |  |  | 42,102 |  |  |  | 58,274 |
Asia (excluding Korea and Japan) |  |  | 101,327 |  |  |  | 101,384 |
Europe |  |  | 59,983 |  |  |  | 63,886 |
|  | $ | 463,561 |  |  | $ | 554,275 |
|  | March 31, 2019 |  |  | December 31, 2018 |
Long-lived assets:(1) |  |  |  |  |  |  |  |
United States |  | $ | 198,747 |  |  | $ | 146,687 |
Europe |  |  | 29,983 |  |  |  | 26,794 |
Asia |  |  | 57,523 |  |  |  | 50,572 |
|  | $ | 286,253 |  |  | $ | 224,053 |
(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 Company groups its product offerings into three groups based upon the similarity of product function as follows:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Advanced Manufacturing Components |  | $ | 371,345 |  |  | $ | 496,677 |
Global Service |  |  | 66,198 |  |  |  | 57,598 |
Advanced Manufacturing Systems |  |  | 26,018 |  |  |  | — |
|  | $ | 463,561 |  |  | $ | 554,275 |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9031-108599 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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