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Business Segment, Geographic Area, Product Information and Significant Customer Information (Tables) | 12 Months Ended
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Dec. 31, 2022
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Vacuum Solutions Division |  | $ | 1,966 |  |  | $ | 1,862 |  |  | $ | 1,406 |
Photonics Solutions Division |  |  | 1,064 |  |  |  | 1,088 |  |  |  | 924 |
Materials Solutions Division |  |  | 517 |  |  |  | — |  |  |  | — |
|  | $ | 3,547 |  |  | $ | 2,950 |  |  | $ | 2,330 |
The following table sets forth segment assets by reportable segment:
|  | Accounts Receivable |  |  | Inventory |  |  | Total |
December 31, 2022 |  |  |  |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 307 |  |  | $ | 491 |  |  | $ | 798 |
Photonics Solutions Division |  |  | 210 |  |  |  | 296 |  |  |  | 506 |
Materials Solutions Division |  |  | 298 |  |  |  | 190 |  |  |  | 488 |
Corporate, Eliminations & Other |  |  | (95 | ) |  |  | — |  |  |  | (95 | )
Total segment assets |  | $ | 720 |  |  | $ | 977 |  |  | $ | 1,697 |
|  | Accounts Receivable |  |  | Inventory |  |  | Total |
December 31, 2021 |  |  |  |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 285 |  |  | $ | 339 |  |  | $ | 624 |
Photonics Solutions Division |  |  | 183 |  |  |  | 239 |  |  |  | 422 |
Materials Solutions Division |  |  | — |  |  |  | — |  |  |  | — |
Corporate, Eliminations & Other |  |  | (25 | ) |  |  | (1 | ) |  |  | (26 | )
Total segment assets |  | $ | 443 |  |  | $ | 577 |  |  | $ | 1,020 |
Goodwill associated with each of the Company’s reportable segments is as follows:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Vacuum Solutions Division |  | $ | 195 |  |  | $ | 195 |
Photonics Solutions Division |  |  | 1,026 |  |  |  | 1,033 |
Materials Solutions Division |  |  | 3,087 |  |  |  | — |
Total goodwill |  | $ | 4,308 |  |  | $ | 1,228 |
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, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Gross profit by reportable segment: |  |  |  |  |  |  |  |  |
Vacuum Solutions Division |  | $ | 856 |  |  | $ | 868 |  |  | $ | 633 |
Photonics Solutions Division |  |  | 499 |  |  |  | 512 |  |  |  | 416 |
Materials Solutions Division |  |  | 192 |  |  |  | — |  |  |  | — |
Total gross profit by reportable segment |  |  | 1,547 |  |  |  | 1,380 |  |  |  | 1,049 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  |  | 241 |  |  |  | 200 |  |  |  | 173 |
Selling, general and administrative |  |  | 488 |  |  |  | 385 |  |  |  | 353 |
Acquisition and integration costs |  |  | 52 |  |  |  | 30 |  |  |  | 4 |
Restructuring and other |  |  | 10 |  |  |  | 11 |  |  |  | 10 |
Amortization of intangible assets |  |  | 146 |  |  |  | 55 |  |  |  | 55 |
Gain on sale of long-lived assets |  |  | (7 | ) |  |  | — |  |  |  | — |
Income from operations |  |  | 617 |  |  |  | 699 |  |  |  | 454 |
Interest income |  |  | (4 | ) |  |  | — |  |  |  | (1 | )
Interest expense |  |  | 177 |  |  |  | 25 |  |  |  | 29 |
Other expense, net |  |  | 11 |  |  |  | 9 |  |  |  | 3 |
Income before income taxes |  |  | 433 |  |  |  | 665 |  |  |  | 423 |
Provision for income taxes |  |  | 100 |  |  |  | 114 |  |  |  | 73 |
Net income |  | $ | 333 |  |  | $ | 551 |  |  | $ | 350 |
Schedule of Capital Expenditures, Depreciation and Amortization Expense of Intangible Assets by Reportable Segment | The following table set forth capital expenditures by reportable segment:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Vacuum Solutions Division |  | $ | 96 |  |  | $ | 37 |  |  | $ | 36 |
Photonics Solutions Division |  |  | 40 |  |  |  | 50 |  |  |  | 49 |
Materials Solutions Division |  |  | 28 |  |  |  | — |  |  |  | — |
Total capital expenditures |  | $ | 164 |  |  | $ | 87 |  |  | $ | 85 |
The following table sets forth depreciation and amortization by reportable segment:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Vacuum Solutions Division |  | $ | 24 |  |  | $ | 23 |  |  | $ | 20 |
Photonics Solutions Division |  |  | 88 |  |  |  | 81 |  |  |  | 79 |
Materials Solutions Division |  |  | 104 |  |  |  | — |  |  |  | — |
Total depreciation and amortization |  | $ | 216 |  |  | $ | 104 |  |  | $ | 99 |
Reconciliation of Segment Assets to Consolidated Total Assets | The following is a reconciliation of segment assets to consolidated total assets:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Total segment assets |  | $ | 1,697 |  |  | $ | 1,020 |
Cash and cash equivalents and short-term investments |  |  | 910 |  |  |  | 1,042 |
Other current assets |  |  | 187 |  |  |  | 85 |
Property, plant and equipment, net |  |  | 800 |  |  |  | 326 |
Right-of-use assets |  |  | 234 |  |  |  | 184 |
Goodwill and intangible assets, net |  |  | 7,481 |  |  |  | 1,804 |
Other assets and long-term assets |  |  | 186 |  |  |  | 79 |
Consolidated total assets |  | $ | 11,495 |  |  | $ | 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.
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Net revenues: |  |  |  |  |  |  |  |  |
United States |  | $ | 1,479 |  |  | $ | 1,259 |  |  | $ | 1,059 |
China |  |  | 497 |  |  |  | 355 |  |  |  | 274 |
South Korea |  |  | 360 |  |  |  | 386 |  |  |  | 279 |
Germany |  |  | 243 |  |  |  | 144 |  |  |  | 125 |
Other |  |  | 968 |  |  |  | 806 |  |  |  | 593 |
|  | $ | 3,547 |  |  | $ | 2,950 |  |  | $ | 2,330 |
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.
|  | December 31, |
|  | 2022 |  |  | 2021 |
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 508 |  |  | $ | 412 |
Germany |  |  | 160 |  |  |  | 18 |
China |  |  | 175 |  |  |  | 16 |
Other |  |  | 343 |  |  |  | 128 |
|  | $ | 1,186 |  |  | $ | 574 |

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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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