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Business Segment, Geographic Area and Product Information (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 201 8 |
Vacuum & Analysis |  | $ | 240,681 |  |  | $ | 286,038 |  |  | $ | 710,691 |  |  | $ | 1,002,710 |
Light & Motion |  |  | 172,460 |  |  |  | 201,114 |  |  |  | 549,027 |  |  |  | 611,857 |
Equipment & Solutions |  |  | 49,310 |  |  |  | — |  |  |  | 140,404 |  |  |  | — |
|  | $ | 462,451 |  |  | $ | 487,152 |  |  | $ | 1,400,122 |  |  | $ | 1,614,567 |
The following table sets forth segment assets by reportable segment:
September 30, 2019: |  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Corporate, Eliminations & Other |  |  | Total |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable |  | $ | 156,066 |  |  | $ | 159,061 |  |  | $ | 40,289 |  |  | $ | (27,433 | ) |  | $ | 327,983 |
Inventories |  |  | 221,182 |  |  |  | 168,597 |  |  |  | 73,449 |  |  |  | 35 |  |  |  | 463,263 |
Total segment assets |  | $ | 377,248 |  |  | $ | 327,658 |  |  | $ | 113,738 |  |  | $ | (27,398 | ) |  | $ | 791,246 |
December 31, 2018: |  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Corporate, Eliminations & Other |  |  | Total |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable |  | $ | 171,604 |  |  | $ | 140,658 |  |  | $ | — |  |  | $ | (16,808 | ) |  | $ | 295,454 |
Inventories |  |  | 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​​​​​​​:
|  | September 30, 2019 |  |  | December 31, 2018 |
Reportable segment: |  |  |  |  |  |  |  |
Vacuum & Analysis |  | $ | 195,431 |  |  | $ | 197,126 |
Light & Motion |  |  | 386,848 |  |  |  | 389,870 |
Equipment & Solutions |  |  | 471,812 |  |  |  | — |
Total goodwill |  | $ | 1,054,091 |  |  | $ | 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Gross profit by reportable segment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vacuum & Analysis |  | $ | 102,826 |  |  | $ | 132,835 |  |  | $ | 303,060 |  |  | $ | 462,418 |
Light & Motion |  |  | 79,873 |  |  |  | 99,025 |  |  |  | 257,562 |  |  |  | 307,174 |
Equipment & Solutions |  |  | 22,305 |  |  |  | — |  |  |  | 53,527 |  |  |  | — |
Total gross profit by reportable segment |  |  | 205,004 |  |  |  | 231,860 |  |  |  | 614,149 |  |  |  | 769,592 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 41,566 |  |  |  | 31,898 |  |  |  | 122,354 |  |  |  | 103,259 |
Selling, general and administrative |  |  | 82,101 |  |  |  | 70,822 |  |  |  | 247,792 |  |  |  | 229,952 |
Fees and expenses related to term loan |  |  | 642 |  |  |  | — |  |  |  | 6,489 |  |  |  | 378 |
Acquisition and integration costs |  |  | 2,103 |  |  |  | 36 |  |  |  | 35,510 |  |  |  | (1,132 | )
Restructuring and other |  |  | 1,525 |  |  |  | 1,364 |  |  |  | 4,690 |  |  |  | 4,374 |
Amortization of intangible assets |  |  | 17,020 |  |  |  | 10,695 |  |  |  | 50,299 |  |  |  | 32,786 |
Gain on sale of long-lived assets |  |  | (6,773 | ) |  |  | — |  |  |  | (6,773 | ) |  |  | — |
Income from operations |  |  | 66,820 |  |  |  | 117,045 |  |  |  | 153,788 |  |  |  | 399,975 |
Interest and other expense, net |  |  | 11,398 |  |  |  | 2,529 |  |  |  | 31,167 |  |  |  | 10,173 |
Income before income taxes |  |  | 55,422 |  |  |  | 114,516 |  |  |  | 122,621 |  |  |  | 389,802 |
Provision for income taxes |  |  | 7,994 |  |  |  | 21,239 |  |  |  | 24,999 |  |  |  | 68,542 |
Net income |  | $ | 47,428 |  |  | $ | 93,277 |  |  | $ | 97,622 |  |  | $ | 321,260 |
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, 2019 and 2018:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Total |
Three Months Ended September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 7,461 |  |  | $ | 6,767 |  |  | $ | 2,271 |  |  | $ | 16,499 |
Nine Months Ended September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 21,649 |  |  | $ | 16,859 |  |  | $ | 6,245 |  |  | $ | 44,753 |
Three Months Ended September 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 9,532 |  |  | $ | 5,535 |  |  | $ | — |  |  | $ | 15,067 |
Nine Months Ended September 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 22,701 |  |  | $ | 14,184 |  |  | $ | — |  |  | $ | 36,885 |
The following table sets forth depreciation and amortization by reportable segment for the three and nine months ended September 30, 2019 and 2018:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Total |
Three Months Ended September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 4,222 |  |  | $ | 12,992 |  |  | $ | 9,994 |  |  | $ | 27,208 |
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 12,208 |  |  | $ | 40,424 |  |  | $ | 27,231 |  |  | $ | 79,863 |
Three Months Ended September 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 5,083 |  |  | $ | 14,446 |  |  | $ | — |  |  | $ | 19,529 |
Nine Months Ended September 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 15,180 |  |  | $ | 44,726 |  |  | $ | — |  |  | $ | 59,906 |
Reconciliation of Segment Assets to Consolidated Total Assets | The following is a reconciliation of segment assets to consolidated total assets:
|  | September 30, 2019 |  |  | December 31, 2018 |
Total segment assets |  | $ | 791,246 |  |  | $ | 680,143 |
Cash and cash equivalents and investments |  |  | 485,274 |  |  |  | 728,461 |
Other current assets |  |  | 94,011 |  |  |  | 65,790 |
Property, plant and equipment, net |  |  | 236,124 |  |  |  | 194,367 |
Right-of-use asset |  |  | 67,632 |  |  |  | — |
Goodwill and intangible assets, net |  |  | 1,634,971 |  |  |  | 906,803 |
Other assets |  |  | 45,286 |  |  |  | 38,682 |
Consolidated total assets |  | $ | 3,354,544 |  |  | $ | 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 211,116 |  |  | $ | 243,273 |  |  | $ | 653,012 |  |  | $ | 801,811 |
China |  |  | 46,679 |  |  |  | 35,554 |  |  |  | 140,469 |  |  |  | 98,631 |
Korea |  |  | 41,313 |  |  |  | 43,468 |  |  |  | 116,011 |  |  |  | 164,462 |
Japan |  |  | 32,388 |  |  |  | 38,964 |  |  |  | 105,485 |  |  |  | 151,325 |
Other Asia |  |  | 77,360 |  |  |  | 69,782 |  |  |  | 213,325 |  |  |  | 215,282 |
Europe |  |  | 53,595 |  |  |  | 56,111 |  |  |  | 171,820 |  |  |  | 183,056 |
|  | $ | 462,451 |  |  | $ | 487,152 |  |  | $ | 1,400,122 |  |  | $ | 1,614,567 |
Long-lived assets: (1) |  | September 30, 2019 |  |  | December 31, 2018 |
United States |  | $ | 171,324 |  |  | $ | 146,687 |
Europe |  |  | 30,514 |  |  |  | 26,794 |
Asia |  |  | 60,072 |  |  |  | 50,572 |
|  | $ | 261,910 |  |  | $ | 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Advanced Manufacturing Components |  | $ | 353,639 |  |  | $ | 426,255 |  |  | $ | 1,084,107 |  |  | $ | 1,432,931 |
Global Service |  |  | 76,278 |  |  |  | 60,897 |  |  |  | 215,260 |  |  |  | 181,636 |
Advanced Manufacturing Systems |  |  | 32,534 |  |  |  | — |  |  |  | 100,755 |  |  |  | — |
|  | $ | 462,451 |  |  | $ | 487,152 |  |  | $ | 1,400,122 |  |  | $ | 1,614,567 |

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