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Business Segment, Geographic Area, and Significant Customer Information (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Net Revenues, Assets and Goodwill by Reportable Segment | The following table sets forth net revenues by reportable segment:
|  | Three Months Ended |  |  | Six Months Ended June 30, |
|  | June 30, 2022 |  |  | June 30, 2021 |  |  | 2022 |  |  | 2021 |
Vacuum Solutions Division |  | $ | 507 |  |  | $ | 458 |  |  | $ | 981 |  |  | $ | 894 |
Photonics Solutions Division |  |  | 228 |  |  |  | 193 |  |  |  | 456 |  |  |  | 375 |
Equipment Solutions Division |  |  | 30 |  |  |  | 99 |  |  |  | 70 |  |  |  | 175 |
|  | $ | 765 |  |  | $ | 750 |  |  | $ | 1,507 |  |  | $ | 1,444 |
June 30, 2022 |  | Accounts receivable |  |  | Inventory |  |  | Total |
Vacuum Solutions Division |  | $ | 344 |  |  | $ | 421 |  |  | $ | 765 |
Photonics Solutions Division |  |  | 162 |  |  |  | 202 |  |  |  | 364 |
Equipment Solutions Division |  |  | 35 |  |  |  | 67 |  |  |  | 102 |
Corporate, Eliminations & Other |  |  | (60 | ) |  |  | (1 | ) |  |  | (61 | )
Total segment assets |  | $ | 481 |  |  | $ | 689 |  |  | $ | 1,170 |
December 31, 2021 |  | Accounts receivable |  |  | Inventory |  |  | Total |
Vacuum Solutions Division |  | $ | 285 |  |  | $ | 339 |  |  | $ | 624 |
Photonics Solutions Division |  |  | 146 |  |  |  | 177 |  |  |  | 323 |
Equipment Solutions Division |  |  | 36 |  |  |  | 62 |  |  |  | 98 |
Corporate, Eliminations & Other |  |  | (24 | ) |  |  | (1 | ) |  |  | (25 | )
Total segment assets |  | $ | 443 |  |  | $ | 577 |  |  | $ | 1,020 |
Goodwill associated with each of the Company's reportable segments is as follows:
|  | June 30, 2022 |  |  | December 31, 2021 |
Reportable segment: |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 195 |  |  | $ | 195 |
Photonics Solutions Division |  |  | 552 |  |  |  | 558 |
Equipment Solutions Division |  |  | 473 |  |  |  | 475 |
Total goodwill |  | $ | 1,220 |  |  | $ | 1,228 |
Reconciliation of Gross Profit by Reportable Segment to Net Income | The following table sets forth a reconciliation of gross profit by reportable segment to net income:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Gross profit by reportable segment: |  |  |  |  |  |  |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 219 |  |  | $ | 212 |  |  | $ | 425 |  |  | $ | 417 |
Photonics Solutions Division |  |  | 109 |  |  |  | 90 |  |  |  | 222 |  |  |  | 172 |
Equipment Solutions Division |  |  | 10 |  |  |  | 53 |  |  |  | 25 |  |  |  | 88 |
Total gross profit by reportable segment |  |  | 338 |  |  |  | 355 |  |  |  | 672 |  |  |  | 677 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 53 |  |  |  | 50 |  |  |  | 105 |  |  |  | 97 |
Selling, general and administrative |  |  | 101 |  |  |  | 97 |  |  |  | 193 |  |  |  | 193 |
Acquisition and integration costs |  |  | 2 |  |  |  | 6 |  |  |  | 10 |  |  |  | 12 |
Restructuring and other |  |  | 3 |  |  |  | 3 |  |  |  | 5 |  |  |  | 8 |
Amortization of intangible assets |  |  | 15 |  |  |  | 13 |  |  |  | 30 |  |  |  | 25 |
Gain on sale of long-lived assets |  |  | — |  |  |  | — |  |  |  | (7 | ) |  |  | — |
Income from operations |  |  | 164 |  |  |  | 186 |  |  |  | 336 |  |  |  | 342 |
Interest income |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Interest expense |  |  | 7 |  |  |  | 6 |  |  |  | 13 |  |  |  | 12 |
Other expense (income), net |  |  | 2 |  |  |  | 8 |  |  |  | (3 | ) |  |  | 9 |
Income before income taxes |  |  | 156 |  |  |  | 172 |  |  |  | 327 |  |  |  | 321 |
Provision for income taxes |  |  | 26 |  |  |  | 26 |  |  |  | 54 |  |  |  | 52 |
Net income |  | $ | 130 |  |  | $ | 146 |  |  | $ | 273 |  |  | $ | 269 |
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 six months ended June 30, 2022 and 2021:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Vacuum Solutions Division |  | $ | 55 |  |  | $ | 8 |  |  | $ | 65 |  |  | $ | 17 |
Photonics Solutions Division |  |  | 8 |  |  |  | 5 |  |  |  | 16 |  |  |  | 17 |
Equipment Solutions Division |  |  | 1 |  |  |  | 3 |  |  |  | 2 |  |  |  | 9 |
Total capital expenditures |  | $ | 64 |  |  | $ | 16 |  |  | $ | 83 |  |  | $ | 43 |
The following table sets forth depreciation and amortization by reportable segment for the three and six months ended June 30, 2022 and 2021:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Vacuum Solutions Division |  | $ | 6 |  |  | $ | 6 |  |  | $ | 12 |  |  | $ | 12 |
Photonics Solutions Division |  |  | 13 |  |  |  | 10 |  |  |  | 26 |  |  |  | 19 |
Equipment Solutions Division |  |  | 9 |  |  |  | 9 |  |  |  | 18 |  |  |  | 18 |
Total depreciation and amortization |  | $ | 28 |  |  | $ | 25 |  |  | $ | 56 |  |  | $ | 49 |
Reconciliation of Segment Assets to Total Assets | The following is a reconciliation of segment assets to total assets:
|  | June 30, 2022 |  |  | December 31, 2021 |
Total segment assets |  | $ | 1,170 |  |  | $ | 1,020 |
Cash and cash equivalents and short-term investments |  |  | 1,067 |  |  |  | 1,042 |
Other current assets |  |  | 112 |  |  |  | 85 |
Property, plant and equipment, net |  |  | 377 |  |  |  | 326 |
Right-of-use assets |  |  | 170 |  |  |  | 184 |
Goodwill and intangible assets, net |  |  | 1,764 |  |  |  | 1,804 |
Other assets and long-term investments |  |  | 89 |  |  |  | 79 |
Total assets |  | $ | 4,749 |  |  | $ | 4,540 |
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. North America includes revenue from the United States and an immaterial amount of revenue from Canada.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Net revenues: |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
North America |  | $ | 356 |  |  | $ | 292 |  |  | $ | 736 |  |  | $ | 574 |
South Korea |  |  | 95 |  |  |  | 104 |  |  |  | 177 |  |  |  | 202 |
China |  |  | 82 |  |  |  | 102 |  |  |  | 140 |  |  |  | 183 |
Other Asia |  |  | 169 |  |  |  | 191 |  |  |  | 330 |  |  |  | 370 |
Europe |  |  | 63 |  |  |  | 61 |  |  |  | 124 |  |  |  | 115 |
|  | $ | 765 |  |  | $ | 750 |  |  | $ | 1,507 |  |  | $ | 1,444 |
Long-lived assets: |  | June 30, 2022 |  |  | December 31, 2021 |
United States |  | $ | 227 |  |  | $ | 292 |
Mexico |  |  | 223 |  |  |  | 133 |
Asia |  |  | 133 |  |  |  | 106 |
Europe |  |  | 35 |  |  |  | 36 |
|  | $ | 618 |  |  | $ | 567 |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Lam Research Corporation |  |  | 15 | % |  |  | 12 | % |  |  | 16 | % |  |  | 13 | %
Applied Materials, Inc. |  |  | 13 | % |  |  | 11 | % |  |  | 12 | % |  |  | 11 | %

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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