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Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of financial instruments | The balance of the Company’s primary financial instruments was as follows:
(in thousands) | At December 31,
| 2017 | 2016
Money market funds | $ | 5,293 |  | $ | 2,832 |
Schedule of estimated useful lives over which depreciation of software, machinery and equipment is provided for using accelerated methods | Depreciation of software, machinery and equipment is provided using accelerated methods over the following estimated useful lives:
Software | 3 to 5 years
Machinery and equipment | 3 to 10 years
Reconciliation of basic earnings per share ("EPS") to diluted EPS | The following shows a reconciliation of basic earnings per share (“EPS”) to diluted EPS:
| Fiscal Year Ended December 31,
(in thousands, except per-share amounts) | 2017 |  | 2016 |  | 2015
Net income available to common stockholders | $ | 92,617 |  |  | $ | 89,734 |  |  | $ | 67,888 |
Basic weighted average shares outstanding | 47,486 |  |  | 48,084 |  |  | 48,952 |
Dilutive effect of potential common stock equivalents | 288 |  |  | 211 |  |  | 229 |
Diluted weighted average shares outstanding | 47,774 |  |  | 48,295 |  |  | 49,181 |
Net earnings per share: |  |  |  |  |  |  |  |
Basic | $ | 1.95 |  |  | $ | 1.87 |  |  | $ | 1.39 |
Diluted | $ | 1.94 |  |  | $ | 1.86 |  |  | $ | 1.38 |
Schedule of components of accumulated other comprehensive income | The following shows the components of accumulated other comprehensive income or loss as of December 31, 2017 and 2016, respectively:
| Foreign Currency Translation |  | Pension Benefit |  | Total
(in thousands) |  |
Balance at January 1, 2015 | $ | (6,613 | ) |  | $ | (567 | ) |  | $ | (7,180 | )
Other comprehensive income before reclassification net of tax benefit (expense) of ($57) and $82, respectively | (20,708 | ) |  | (457 | ) |  | (21,165 | )
Amounts reclassified from accumulative other comprehensive income, net of $0 tax | (231 | ) |  |  |  | (231 | )
Balance at December 31, 2015 | (27,552 | ) |  | (1,024 | ) |  | (28,576 | )
Other comprehensive loss net of tax benefit (expense) of ($222) and $87, respectively | (3,920 | ) |  | (474 | ) |  | (4,394 | )
Balance at December 31, 2016 | (31,472 | ) |  | (1,498 | ) |  | (32,970 | )
Other comprehensive loss net of tax benefit (expense) of $0 and $36, respectively | 21,273 |  |  | (944 | ) |  | 20,329 |
Amounts reclassified from accumulative other comprehensive income, net of $0 tax | 145 |  |  | — |  |  | 145 |
Balance at December 31, 2017 | $ | (10,054 | ) |  | $ | (2,442 | ) |  | $ | (12,496 | )
Schedule of changes in the carrying amount of goodwill, by segment | The annual changes in the carrying amount of goodwill, by segment, as of December 31, 2016 and 2017, were as follows, respectively:
(in thousands) | North America |  | Europe |  | Asia Pacific |  | Total
Balance as of January 1, 2016: |  |  |  |  |  |  |
Goodwill | $ | 96,500 |  |  | $ | 50,135 |  |  | $ | 1,396 |  |  | $ | 148,031 |
Accumulated impairment losses | (10,666 | ) |  | (13,415 | ) |  | — |  |  | (24,081 | )
| 85,834 |  |  | 36,720 |  |  | 1,396 |  |  | 123,950 |
Goodwill acquired | — |  |  | 1,848 |  |  | — |  |  | 1,848 |
Foreign exchange | 93 |  |  | (952 | ) |  | (21 | ) |  | (880 | )
Reclassifications (1) | (439 | ) |  | — |  |  | — |  |  | (439 | )
Balance as of December 31, 2016: |  |  |  |  |  |  | 0 |
Goodwill | 96,154 |  |  | 51,031 |  |  | 1,375 |  |  | 148,560 |
Accumulated impairment losses | (10,666 | ) |  | (13,415 | ) |  | — |  |  | (24,081 | )
| 85,488 |  |  | 37,616 |  |  | 1,375 |  |  | 124,479 |
Goodwill acquired | 10,066 |  |  | — |  |  | — |  |  | 10,066 |
Foreign exchange | 198 |  |  | 2,472 |  |  | 114 |  |  | 2,784 |
Reclassifications(2) | 3 |  |  | (192 | ) |  | — |  |  | (189 | )
Balance as of December 31, 2017: |  |  |  |  |  |  | 0 |
Goodwill | 106,421 |  |  | 53,311 |  |  | 1,489 |  |  | 161,221 |
Accumulated impairment losses | (10,666 | ) |  | (13,415 | ) |  | — |  |  | (24,081 | )
| $ | 95,755 |  |  | $ | 39,896 |  |  | $ | 1,489 |  |  | $ | 137,140 |
(1) Reclassifications in 2016 of $0.2 million in patents, $0.1 million in non-compete agreements, $46 thousand in customer relationships and other assets, with a corresponding $0.4 million decrease in goodwill related to the EBTY acquisition. (2) Reclassifications in 2017 were $3 thousand and $192 thousand in other assets, with a corresponding $189 thousand decrease in goodwill related to CG Visions and MS Decoupe acquisitions.
Schedule of changes in the carrying amounts of finite-lived intangible assets subject to amortization | The annual changes in the carrying amounts of patents, unpatented technologies, customer relationships and non-compete agreements and other intangible assets subject to amortization as of December 31, 2016, and 2017 were as follows, respectively:
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Patents |  |
Balance at January 1, 2016 | $ | 1,513 |  |  | $ | (379 | ) |  | $ | 1,134 |
Amortization | — |  |  | (149 | ) |  | (149 | )
Reclassification(1) | 212 |  |  | — |  |  | 212 |
Foreign exchange | (7 | ) |  | — |  |  | (7 | )
Balance at December 31, 2016 | 1,718 |  |  | (528 | ) |  | 1,190 |
Acquisition | 800 |  |  | — |  |  | 800 |
Amortization | — |  |  | (187 | ) |  | (187 | )
Foreign exchange | 2 |  |  | — |  |  | 2 |
Removal of fully amortized assets | (170 | ) |  | 170 |  |  | — |
Balance at December 31, 2017 | $ | 2,350 |  |  | $ | (545 | ) |  | $ | 1,805 |
(1) Reclassifications in 2016 of $0.2 million in patents, $0.1 million in non-compete agreements, $46 thousand in customer relationships and other assets, with a corresponding $0.4 million decrease in goodwill related to the EBTY acquisition
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Unpatented Technology |  |
Balance at January 1, 2016 | $ | 21,604 |  |  | $ | (8,656 | ) |  | $ | 12,948 |
Amortization | — |  |  | (2,058 | ) |  | (2,058 | )
Reclassifications (1) | 1,512 |  |  | — |  |  | 1,512 |
Foreign exchange | (243 | ) |  | — |  |  | (243 | )
Removal of fully amortized assets | (1,711 | ) |  | 1,711 |  |  | — |
Balance at December 31, 2016 | 21,162 |  |  | (9,003 | ) |  | 12,159 |
Amortization | — |  |  | (1,976 | ) |  | (1,976 | )
Foreign exchange | 505 |  |  | $ | — |  |  | 505 |
Balance at December 31, 2017 | $ | 21,667 |  |  | $ | (10,979 | ) |  | $ | 10,688 |
(1) Reclassifications in 2016 of $1.5 million in unpatented technology for completed indefinite-lived in-process research and development ("IPR&D"), with a corresponding reduction in IPR&D intangibles.
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Non-Compete Agreements, Trademarks and Other |  |
Balance at January 1, 2016 | $ | 10,578 |  |  | (7,203 | ) |  | 3,375 |
Acquisition | 1,212 |  |  | — |  |  | 1,212 |
Amortization | — |  |  | (2,040 | ) |  | (2,040 | )
Foreign exchange | (39 | ) |  | — |  |  | (39 | )
Reclassifications(1) | 119 |  |  | — |  |  | 119 |
Removal of fully amortized assets | (5,143 | ) |  | 5,143 |  |  | — |
Balance at December 31, 2016 | 6,727 |  |  | (4,100 | ) |  | 2,627 |
Acquisition | 9,260 |  |  | — |  |  | 9,260 |
Amortization | — |  |  | (2,495 | ) |  | (2,495 | )
Foreign exchange | 16 |  |  | — |  |  | 16 |
Removal of fully amortized asset | (3,778 | ) |  | 3,778 |  |  | — |
Balance at December 31, 2017 | $ | 12,225 |  |  | $ | (2,817 | ) |  | $ | 9,408 |
(1) Reclassifications in 2016 of $0.2 million in patents, $0.1 million in non-compete agreements, $46 thousand in customer relationships and other assets, with a corresponding $0.4 million decrease in goodwill related to the EBTY acquisition.
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer Relationships |  |
Balance at January 1, 2016 | $ | 21,242 |  |  | (13,152 | ) |  | 8,090 |
Acquisition | — |  |  | — |  |  | — |
Amortization | — |  |  | (1,793 | ) |  | (1,793 | )
Reclassifications(1) | 46 |  |  | — |  |  | 46 |
Foreign exchange | (71 | ) |  | — |  |  | (71 | )
Balance at December 31, 2016 | 21,217 |  |  | (14,945 | ) |  | 6,272 |
Acquisition | 1,091 |  |  | — |  |  | 1,091 |
Amortization | — |  |  | (1,574 | ) |  | (1,574 | )
Reclassifications (2) | 626 |  |  | — |  |  | 626 |
Foreign exchange | 394 |  |  | — |  |  | 394 |
Removal of fully amortized assets | (5,650 | ) |  | 5,650 |  |  | — |
Balance at December 31, 2017 | $ | 17,678 |  |  | $ | (10,869 | ) |  | $ | 6,809 |
(1) Reclassifications in 2016 of $0.2 million to patents, $0.1 million in non-compete agreements, $46 thousand in customer relationships and other assets, with a corresponding $0.4 million decrease in goodwill related to the EBTY acquisition. (2) Reclassifications in 2017 of $0.6 million in customer relationships with a corresponding $0.6 million decrease in other assets related to the MS Decoupe acquisition.
Schedule of estimated future amortization of intangible assets | At December 31, 2017, estimated future amortization of intangible assets was as follows: (in thousands)
2018 | $ | 5,352 |
2019 | 5,260 |
2020 | 5,230 |
2021 | 4,751 |
2022 | 2,859 |
Thereafter | 5,258 |
| $ | 28,710 |
Schedule of finite-lived intangible assets | Amortizable and indefinite-lived assets, net, by segment, as of December 31, 2016 and 2017, respectively, were as follows:
| December 31, 2016
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
(in thousands) |  |
Total Intangible Assets |  |
North America | $ | 23,562 |  |  | $ | (13,811 | ) |  | $ | 9,751 |
Europe | 27,880 |  |  | (14,767 | ) |  | 13,113 |
Total | $ | 51,442 |  |  | $ | (28,578 | ) |  | $ | 22,864 |
| At December 31, 2017
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
(in thousands) |  |
Total Intangible Assets |  |
North America | $ | 30,775 |  |  | $ | (13,732 | ) |  | $ | 17,043 |
Europe | 23,762 |  |  | (11,479 | ) |  | 12,283 |
Total | $ | 54,537 |  |  | $ | (25,211 | ) |  | $ | 29,326 |

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