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

3 Months Ended

Mar. 31, 2021

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,
		2021				2020
Vacuum & Analysis		$	435.8			$	319.3
Light & Motion			182.0				165.4
Equipment & Solutions			76.1				51.0
		$	693.9			$	535.7

The following table sets forth segment assets by reportable segment:

March 31, 2021		Vacuum & Analysis				Light & Motion				Equipment & Solutions				Corporate, Eliminations & Other				Total
Segment assets:
Accounts receivable		$	247.4			$	132.9			$	61.5			$	(21.0	)		$	420.8
Inventory, net			290.5				157.4				69.9				(2.6	)			515.2
Total segment assets		$	537.9			$	290.3			$	131.4			$	(23.6	)		$	936.0

December 21, 2020		Vacuum & Analysis				Light & Motion				Equipment & Solutions				Corporate, Eliminations & Other				Total
Segment assets:
Accounts receivable		$	229.1			$	122.6			$	51.7			$	(10.7	)		$	392.7
Inventory, net			273.3				166.1				63.7				(1.7	)			501.4
Total segment assets		$	502.4			$	288.7			$	115.4			$	(12.4	)		$	894.1

Goodwill associated with each of the Company’s reportable segments is as follows:

		March 31, 2021				December 31, 2020
Reportable segment:
Vacuum & Analysis		$	195.7			$	196.2
Light & Motion			391.9				395.3
Equipment & Solutions			474.5				474.9
Total goodwill		$	1,062.1			$	1,066.4

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,
		2021				2020
Gross profit by reportable segment:
Vacuum & Analysis		$	205.0			$	140.8
Light & Motion			82.1				75.6
Equipment & Solutions			35.0				23.2
Total gross profit by reportable segment			322.1				239.6
Operating expenses:
Research and development			47.2				42.4
Selling, general and administrative			95.9				87.2
Acquisition and integration costs			6.2				2.2
Restructuring and other			4.9				0.4
Amortization of intangible assets			12.4				16.3
Asset impairment			—				1.2
Income from operations			155.5				89.9
Interest income			0.2				0.7
Interest expense			6.4				8.9
Other expense, net			1.1				0.4
Income before income taxes			148.2				81.3
Provision for income taxes			25.9				12.2
Net income		$	122.3			$	69.1

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, 2021 and 2020:

Capital expenditures:		Vacuum & Analysis				Light & Motion				Equipment & Solutions				Total
Three Months Ended March 31, 2021		$	8.6			$	11.6			$	6.3			$	26.5
Three Months Ended March 31, 2020		$	4.1			$	4.0			$	1.9			$	10.0

The following table sets forth depreciation and amortization by reportable segment for the three months ended March 31, 2021 and 2020:

Depreciation and amortization:		Vacuum & Analysis				Light & Motion				Equipment & Solutions				Total
Three Months Ended March 31, 2021		$	5.8			$	9.0			$	9.0			$	23.8
Three Months Ended March 31, 2020		$	4.9			$	13.4			$	10.1			$	28.4

Reconciliation of Segment Assets to Consolidated Total Assets

The following is a reconciliation of segment assets to consolidated total assets:

		March 31, 2021				December 31, 2020
Total segment assets		$	936.0			$	894.1
Cash and cash equivalents and short-term investments			909.5				836.0
Other current assets			77.0				74.3
Property, plant and equipment, net			297.0				284.3
Right-of-use asset			182.7				184.4
Goodwill and intangible assets, net			1,560.5				1,578.6
Other assets and long-term investments			55.2				52.1
Consolidated total assets		$	4,017.9			$	3,903.8

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

Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.

		Three Months Ended March 31,
		2021				2020
Net revenues:
United States		$	282.8			$	231.5
South Korea			97.9				76.0
China			81.3				49.7
Taiwan			59.4				25.3
Japan			48.0				40.0
Other Asia			70.1				58.9
Europe			54.4				54.3
		$	693.9			$	535.7

Long-lived assets:(1)		March 31, 2021				December 31, 2020
United States		$	379.7			$	364.0
Europe			37.3				94.8
Asia			101.3				45.1
		$	518.3			$	503.9

⁽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.

Summary of Net Revenues by Major Customers

The following customers represented greater than 10% of the Company’s net revenues as follows:

		Three Months Ended March 31,
		2021				2020
Lam Research Corporation			13	%			10	%
Applied Materials, Inc.			11	%			11	%

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