Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The balance of the Company’s primary financial instruments was as follows:

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)	Foreign Currency Translation			Pension Benefit			Total
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	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
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	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
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
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	Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
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

(in thousands)

At December 31,

Money market funds