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Business Segment, Geographic Area and Product Information (Tables)

9 Months Ended

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				2018
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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