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v3.19.3.a.u2

Business Segment, Geographic Area, Product Information and Significant Customer Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Net Revenues, Assets and Goodwill by Reportable Segment | The following table sets forth net revenues by reportable segment:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Vacuum & Analysis |  | $ | 990,523 |  |  | $ | 1,260,862 |  |  | $ | 1,207,457 |
Light & Motion |  |  | 725,570 |  |  |  | 814,246 |  |  |  | 708,520 |
Equipment & Solutions |  |  | 183,680 |  |  |  | — |  |  |  | — |
|  | $ | 1,899,773 |  |  | $ | 2,075,108 |  |  | $ | 1,915,977 |
The following table sets forth segment assets by reportable segment:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Corporate, Eliminations and Other |  |  | Total |
December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 185,889 |  |  | $ | 147,150 |  |  | $ | 40,125 |  |  | $ | (32,100 | ) |  | $ | 341,064 |
Inventory |  |  | 224,815 |  |  |  | 163,768 |  |  |  | 73,458 |  |  |  | 105 |  |  |  | 462,146 |
Total segment assets |  | $ | 410,704 |  |  | $ | 310,918 |  |  | $ | 113,583 |  |  | $ | (31,995 | ) |  | $ | 803,210 |
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Corporate, Eliminations and Other |  |  | Total |
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 171,604 |  |  | $ | 140,658 |  |  | $ | — |  |  | $ | (16,808 | ) |  | $ | 295,454 |
Inventory |  |  | 222,965 |  |  |  | 161,658 |  |  |  | — |  |  |  | 66 |  |  |  | 384,689 |
Total segment assets |  | $ | 394,569 |  |  | $ | 302,316 |  |  | $ | — |  |  | $ | (16,742 | ) |  | $ | 680,143 |
Goodwill associated with each of our reportable segments is as follows:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Reportable segment: |  |  |  |  |  |  |  |
Vacuum & Analysis |  | $ | 196,717 |  |  | $ | 197,126 |
Light & Motion |  |  | 388,463 |  |  |  | 389,870 |
Equipment & Solutions |  |  | 473,274 |  |  |  | — |
Total goodwill |  | $ | 1,058,454 |  |  | $ | 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:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Gross profit by reportable segment: |  |  |  |  |  |  |  |  |  |  |  |
Vacuum & Analysis |  | $ | 426,464 |  |  | $ | 577,552 |  |  | $ | 551,078 |
Light & Motion |  |  | 336,764 |  |  |  | 401,924 |  |  |  | 340,373 |
Equipment & Solutions |  |  | 67,203 |  |  |  | — |  |  |  | — |
Total gross profit by reportable segment |  |  | 830,431 |  |  |  | 979,476 |  |  |  | 891,451 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 164,061 |  |  |  | 135,720 |  |  |  | 132,555 |
Selling, general and administrative |  |  | 330,346 |  |  |  | 298,118 |  |  |  | 290,056 |
Acquisition and integration costs |  |  | 37,262 |  |  |  | 3,113 |  |  |  | 5,332 |
Restructuring and other |  |  | 6,983 |  |  |  | 4,567 |  |  |  | 3,920 |
Fees and expenses related to repricing of Term Loan Facility |  |  | 6,637 |  |  |  | 378 |  |  |  | 492 |
Amortization of intangible assets |  |  | 67,402 |  |  |  | 43,521 |  |  |  | 45,743 |
Gain on sale of long-lived assets |  |  | (6,773 | ) |  |  | — |  |  |  | — |
Asset impairment |  |  | 4,662 |  |  |  | — |  |  |  | 6,719 |
Income from operations |  |  | 219,851 |  |  |  | 494,059 |  |  |  | 406,634 |
Interest income |  |  | 5,453 |  |  |  | 5,775 |  |  |  | 3,021 |
Interest expense |  |  | 44,135 |  |  |  | 16,942 |  |  |  | 30,990 |
Gain on sale of business |  |  | — |  |  |  | — |  |  |  | 74,856 |
Other expense, net |  |  | 3,333 |  |  |  | 1,942 |  |  |  | 5,896 |
Income before income taxes |  |  | 177,836 |  |  |  | 480,950 |  |  |  | 447,625 |
Provision for income taxes |  |  | 37,450 |  |  |  | 88,054 |  |  |  | 108,493 |
Net income |  | $ | 140,386 |  |  | $ | 392,896 |  |  | $ | 339,132 |
Schedule of Capital Expenditures, Depreciation and Amortization Expense of Intangible Assets by Reportable Segment | The following table set forth capital expenditures by reportable segment for the years ended December 31, 2019, 2018 and 2017:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Total |
December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 34,130 |  |  | $ | 23,045 |  |  | $ | 6,729 |  |  | $ | 63,904 |
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 40,144 |  |  | $ | 22,797 |  |  | $ | — |  |  | $ | 62,941 |
December 31, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 17,111 |  |  | $ | 14,176 |  |  | $ | — |  |  | $ | 31,287 |
The following table sets forth depreciation and amortization by reportable segment for the years ended December 31, 2019, 2018 and 2017:
|  | Vacuum & Analysis |  |  | Light & Motion |  |  | Equipment & Solutions |  |  | Total |
December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 16,826 |  |  | $ | 53,857 |  |  | $ | 39,351 |  |  | $ | 110,034 |
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 20,808 |  |  | $ | 59,045 |  |  | $ | — |  |  | $ | 79,853 |
December 31, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 20,297 |  |  | $ | 62,259 |  |  | $ | — |  |  | $ | 82,556 |
Reconciliation of Segment Assets to Consolidated Total Assets | The following is a reconciliation of segment assets to consolidated total assets:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Total segment assets |  | $ | 803,210 |  |  | $ | 680,143 |
Cash and cash equivalents and short-term investments |  |  | 523,989 |  |  |  | 718,171 |
Other current assets |  |  | 106,348 |  |  |  | 65,790 |
Property, plant and equipment, net |  |  | 241,871 |  |  |  | 194,367 |
Right-of-use asset |  |  | 64,497 |  |  |  | — |
Goodwill and intangible assets, net |  |  | 1,623,084 |  |  |  | 906,803 |
Other assets and long-term assets |  |  | 53,321 |  |  |  | 48,972 |
Consolidated total assets |  | $ | 3,416,320 |  |  | $ | 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.
|  | Years Ended December 31, |
Net revenues: |  | 2019 |  |  | 2018 |  |  | 2017 |
United States |  | $ | 888,370 |  |  | $ | 1,022,660 |  |  | $ | 955,284 |
China |  |  | 178,618 |  |  |  | 127,681 |  |  |  | 97,072 |
South Korea |  |  | 167,651 |  |  |  | 203,567 |  |  |  | 212,763 |
Japan |  |  | 143,081 |  |  |  | 193,264 |  |  |  | 167,318 |
Germany |  |  | 150,584 |  |  |  | 159,508 |  |  |  | 122,339 |
Other |  |  | 371,469 |  |  |  | 368,428 |  |  |  | 361,201 |
|  | $ | 1,899,773 |  |  | $ | 2,075,108 |  |  | $ | 1,915,977 |
|  | Years Ended December 31, |
Long-lived assets:(1) |  | 201 9 |  |  | 201 8 |
United States |  | $ | 208,323 |  |  | $ | 146,687 |
Europe |  |  | 41,433 |  |  |  | 26,794 |
Asia |  |  | 89,567 |  |  |  | 50,572 |
|  | $ | 339,323 |  |  | $ | 224,053 |
(1) | Long-lived assets include property, plant and equipment, net, right-of-use assets, and certain other assets, and exclude goodwill, intangible assets and long-term tax-related accounts.
Worldwide Net Revenue for Each Group of Products | Worldwide net revenue for each group of products is as follows:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Advanced Manufacturing Components |  | $ | 1,482,808 |  |  | $ | 1,835,202 |  |  | $ | 1,701,301 |
Global Service |  |  | 288,476 |  |  |  | 239,906 |  |  |  | 214,676 |
Advanced Manufacturing Systems |  |  | 128,489 |  |  |  | — |  |  |  | — |
|  | $ | 1,899,773 |  |  | $ | 2,075,108 |  |  | $ | 1,915,977 |

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