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v3.22.2.2

Business Segment, Geographic Area, and Significant Customer Information (Tables) | 9 Months Ended
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Sep. 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Vacuum Solutions Division |  | $ | 510 |  |  | $ | 483 |  |  | $ | 1,491 |  |  | $ | 1,377 |
Photonics Solutions Division |  |  | 267 |  |  |  | 259 |  |  |  | 793 |  |  |  | 809 |
Materials Solutions Division |  |  | 177 |  |  |  | — |  |  |  | 177 |  |  |  | — |
|  | $ | 954 |  |  | $ | 742 |  |  | $ | 2,461 |  |  | $ | 2,186 |
The following table sets forth segment assets by reportable segment:
September 30, 2022 |  | Accounts receivable |  |  | Inventory |  |  | Total |
Vacuum Solutions Division |  | $ | 342 |  |  | $ | 449 |  |  | $ | 791 |
Photonics Solutions Division |  |  | 185 |  |  |  | 282 |  |  |  | 467 |
Materials Solutions Division |  |  | 301 |  |  |  | 230 |  |  |  | 531 |
Corporate, Eliminations & Other |  |  | (98 | ) |  |  | — |  |  |  | (98 | )
Total segment assets |  | $ | 730 |  |  | $ | 961 |  |  | $ | 1,691 |
December 31, 2021 |  | Accounts receivable |  |  | Inventory |  |  | Total |
Vacuum Solutions Division |  | $ | 285 |  |  | $ | 339 |  |  | $ | 624 |
Photonics Solutions Division |  |  | 182 |  |  |  | 239 |  |  |  | 421 |
Materials Solutions Division |  |  | — |  |  |  | — |  |  |  | — |
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:
|  | September 30, 2022 |  |  | December 31, 2021 |
Reportable segment: |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 193 |  |  | $ | 195 |
Photonics Solutions Division |  |  | 1,020 |  |  |  | 1,033 |
Materials Solutions Division |  |  | 2,638 |  |  |  | — |
Total goodwill |  | $ | 3,851 |  |  | $ | 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Gross profit by reportable segment: |  |  |  |  |  |  |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 220 |  |  | $ | 226 |  |  | $ | 645 |  |  | $ | 644 |
Photonics Solutions Division |  |  | 125 |  |  |  | 122 |  |  |  | 372 |  |  |  | 382 |
Materials Solutions Division |  |  | 45 |  |  |  | — |  |  |  | 45 |  |  |  | — |
Total gross profit by reportable segment |  |  | 390 |  |  |  | 348 |  |  |  | 1,062 |  |  |  | 1,026 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 63 |  |  |  | 52 |  |  |  | 168 |  |  |  | 149 |
Selling, general and administrative |  |  | 126 |  |  |  | 95 |  |  |  | 319 |  |  |  | 289 |
Acquisition and integration costs |  |  | 31 |  |  |  | 9 |  |  |  | 41 |  |  |  | 21 |
Restructuring and other |  |  | 5 |  |  |  | 2 |  |  |  | 10 |  |  |  | 10 |
Amortization of intangible assets |  |  | 47 |  |  |  | 15 |  |  |  | 77 |  |  |  | 40 |
Gain on sale of long-lived assets |  |  | — |  |  |  | — |  |  |  | (7 | ) |  |  | — |
Income from operations |  |  | 118 |  |  |  | 175 |  |  |  | 454 |  |  |  | 517 |
Interest income |  |  | 1 |  |  |  | — |  |  |  | 2 |  |  |  | 1 |
Interest expense |  |  | 80 |  |  |  | 6 |  |  |  | 93 |  |  |  | 19 |
Other (income) expense, net |  |  | (1 | ) |  |  | 3 |  |  |  | (4 | ) |  |  | 12 |
Income before income taxes |  |  | 40 |  |  |  | 166 |  |  |  | 367 |  |  |  | 487 |
Provision for income taxes |  |  | 34 |  |  |  | 34 |  |  |  | 88 |  |  |  | 86 |
Net income |  | $ | 6 |  |  | $ | 132 |  |  | $ | 279 |  |  | $ | 401 |
Reconciliation of Segment Assets to Total Assets | The following is a reconciliation of segment assets to total assets:
|  | September 30, 2022 |  |  | December 31, 2021 |
Total segment assets |  | $ | 1,691 |  |  | $ | 1,020 |
Cash and cash equivalents and short-term investments |  |  | 885 |  |  |  | 1,042 |
Other current assets |  |  | 215 |  |  |  | 85 |
Property, plant and equipment, net |  |  | 655 |  |  |  | 326 |
Right-of-use assets |  |  | 235 |  |  |  | 184 |
Goodwill and intangible assets, net |  |  | 7,504 |  |  |  | 1,804 |
Other assets and long-term investments |  |  | 187 |  |  |  | 79 |
Total assets |  | $ | 11,372 |  |  | $ | 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.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Net revenues: |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
United States |  | $ | 393 |  |  | $ | 343 |  |  | $ | 1,112 |  |  | $ | 917 |
China |  |  | 135 |  |  |  | 80 |  |  |  | 275 |  |  |  | 263 |
Germany |  |  | 100 |  |  |  | 37 |  |  |  | 176 |  |  |  | 108 |
South Korea |  |  | 82 |  |  |  | 91 |  |  |  | 260 |  |  |  | 293 |
Other |  |  | 244 |  |  |  | 191 |  |  |  | 638 |  |  |  | 605 |
|  | $ | 954 |  |  | $ | 742 |  |  | $ | 2,461 |  |  | $ | 2,186 |
Long-lived assets: |  | September 30, 2022 |  |  | December 31, 2021 |
United States |  | $ | 497 |  |  | $ | 412 |
Germany |  |  | 123 |  |  |  | 18 |
China |  |  | 120 |  |  |  | 16 |
Other |  |  | 310 |  |  |  | 128 |
|  | $ | 1,050 |  |  | $ | 574 |
Summary of Net Revenues by Major Customers | The following customers represented greater than 10% of the Company's net revenues:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Lam Research Corporation |  |  | 15 | % |  |  | 15 | % |  |  | 15 | % |  |  | 15 | %
Applied Materials, Inc. |  |  | 10 | % |  |  | 11 | % |  |  | 11 | % |  |  | 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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