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Operating Segments and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Operating Segment Information | Operating Segment Information
Enterprise Solutions | Years ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Segment revenues | $ | 872,415 |  |  | $ | 946,041 |  |  | $ | 957,501 |
Affiliate revenues | 1,289 |  |  | 4,162 |  |  | 6,105 |
Segment EBITDA | 99,333 |  |  | 126,925 |  |  | 156,790 |
Depreciation expense | 20,655 |  |  | 19,771 |  |  | 18,490 |
Amortization of intangibles | 21,662 |  |  | 22,324 |  |  | 21,076 |
Amortization of software development intangible assets | 245 |  |  | 175 |  |  | 71 |
Severance, restructuring, and acquisition integration costs | 7,720 |  |  | 10,808 |  |  | 14,863 |
Purchase accounting effects of acquisitions | 125 |  |  | 592 |  |  | 1,690 |
Acquisition of property, plant and equipment | 25,223 |  |  | 42,289 |  |  | 42,624 |
Segment assets | 462,615 |  |  | 487,125 |  |  | 430,128 |
Industrial Solutions | Years ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Segment revenues | $ | 990,301 |  |  | $ | 1,185,237 |  |  | $ | 1,208,201 |
Affiliate revenues | 60 |  |  | 11 |  |  | 80 |
Segment EBITDA | 147,626 |  |  | 226,110 |  |  | 237,870 |
Depreciation expense | 21,815 |  |  | 20,638 |  |  | 19,819 |
Amortization of intangibles | 42,733 |  |  | 52,285 |  |  | 54,064 |
Amortization of software development intangible assets | 1,576 |  |  | 350 |  |  | 8 |
Severance, restructuring, and acquisition integration costs | 4,538 |  |  | 15,736 |  |  | 7,762 |
Acquisition of property, plant and equipment | 44,675 |  |  | 35,189 |  |  | 29,529 |
Segment assets | 522,637 |  |  | 504,482 |  |  | 508,843 |
Total Segments | Years ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Segment revenues | $ | 1,862,716 |  |  | $ | 2,131,278 |  |  | $ | 2,165,702 |
Affiliate revenues | 1,349 |  |  | 4,173 |  |  | 6,185 |
Segment EBITDA | 246,959 |  |  | 353,035 |  |  | 394,660 |
Depreciation expense | 42,470 |  |  | 40,409 |  |  | 38,309 |
Amortization of intangibles | 64,395 |  |  | 74,609 |  |  | 75,140 |
Amortization of software development intangible assets | 1,821 |  |  | 525 |  |  | 79 |
Severance, restructuring, and acquisition integration costs | 12,258 |  |  | 26,544 |  |  | 22,625 |
Purchase accounting effects of acquisitions | 125 |  |  | 592 |  |  | 1,690 |
Acquisition of property, plant and equipment | 69,898 |  |  | 77,478 |  |  | 72,153 |
Segment assets | 985,252 |  |  | 991,607 |  |  | 938,971 |
Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes | The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Total Segment Revenues | $ | 1,862,716 |  |  | $ | 2,131,278 |  |  | $ | 2,165,702 |
Deferred revenue adjustments | — |  |  | — |  |  | — |
Consolidated Revenues | $ | 1,862,716 |  |  | $ | 2,131,278 |  |  | $ | 2,165,702 |
Total Segment EBITDA | $ | 246,959 |  |  | $ | 353,035 |  |  | $ | 394,660 |
Amortization of intangibles | (64,395) |  |  | (74,609) |  |  | (75,140) |
Depreciation expense | (42,470) |  |  | (40,409) |  |  | (38,309) |
Severance, restructuring, and acquisition integration costs (1) | (12,258) |  |  | (26,544) |  |  | (22,625) |
Purchase accounting effects related to acquisitions (2) | (125) |  |  | (592) |  |  | (1,690) |
Amortization of software development intangible assets | (1,821) |  |  | (525) |  |  | (79) |
Loss on sale of assets (3) | — |  |  | — |  |  | (94) |
Costs related to patent litigation | — |  |  | — |  |  | (2,634) |
Gain from patent litigation | — |  |  | — |  |  | 62,141 |
Eliminations | (480) |  |  | (3,149) |  |  | (2,222) |
Consolidated operating income | 125,410 |  |  | 207,207 |  |  | 314,008 |
Interest expense, net | (58,888) |  |  | (55,814) |  |  | (60,839) |
Non-operating pension benefit (cost) | (395) |  |  | 1,017 |  |  | (99) |
Loss on debt extinguishment | — |  |  | — |  |  | (22,990) |
Consolidated income from continuing operations before taxes | $ | 66,127 |  |  | $ | 152,410 |  |  | $ | 230,080 |
(1)See Note 15, Severance, Restructuring, and Acquisition Integration Activities, for details. (2)In 2020 and 2019, we collectively recognized $0.1 million and $0.6 million, respectively, of cost of sales related to purchase accounting adjustments of acquired inventory to fair value for both our SPC and Opterna acquisitions. In 2018, we made a $1.7 million adjustment to increase the earn-out liability associated with an acquisition. (3)In 2018, we recognized a $0.1 million loss on sale of assets for the sale of our MCS business and Hirschmann JV. See Note 2.
Reconciliations of Other Segment Measures to Consolidated Totals | Below are reconciliations of other segment measures to the consolidated totals.
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Total segment assets | $ | 985,252 |  |  | $ | 991,607 |  |  | $ | 938,971 |
Cash and cash equivalents | 501,994 |  |  | 407,480 |  |  | 407,454 |
Goodwill | 1,251,938 |  |  | 1,243,669 |  |  | 1,206,877 |
Intangible assets, less accumulated amortization | 287,071 |  |  | 339,505 |  |  | 359,931 |
Deferred income taxes | 29,536 |  |  | 25,216 |  |  | 26,459 |
Corporate assets | 83,943 |  |  | 24,147 |  |  | 16,786 |
Assets of discontinued operations | — |  |  | 375,135 |  |  | 822,843 |
Total assets | $ | 3,139,734 |  |  | $ | 3,406,759 |  |  | $ | 3,779,321 |
Total segment acquisition of property, plant and equipment | $ | 69,898 |  |  | $ | 77,478 |  |  | $ | 72,153 |
Discontinued operations acquisition of property, plant and equipment | 16,712 |  |  | 29,414 |  |  | 22,681 |
Corporate acquisition of property, plant and equipment | 3,605 |  |  | 3,110 |  |  | 3,013 |
Total acquisition of property, plant and equipment | $ | 90,215 |  |  | $ | 110,002 |  |  | $ | 97,847 |
Schedule of Revenue from External Customers and Long-Lived Assets Based on Physical Location | The table below summarizes net sales and long-lived assets for the years ended December 31, 2020, 2019 and 2018 for the following countries: the U.S., Canada, China, and Germany. No other individual foreign country’s net sales or long-lived assets are material to the Company.
| United States |  | Canada |  | China |  | Germany |  | All Other |  | Total
| (In thousands, except percentages)
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,015,340 |  |  | $ | 119,700 |  |  | $ | 111,835 |  |  | $ | 91,187 |  |  | $ | 524,654 |  |  | $ | 1,862,716 |
Percent of total revenues | 55 | % |  | 6 | % |  | 6 | % |  | 5 | % |  | 28 | % |  | 100 | %
Long-lived assets | $ | 163,731 |  |  | $ | 32,063 |  |  | $ | 44,824 |  |  | $ | 63,100 |  |  | $ | 114,286 |  |  | $ | 418,004 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,167,033 |  |  | $ | 162,975 |  |  | $ | 109,522 |  |  | $ | 92,913 |  |  | $ | 598,835 |  |  | $ | 2,131,278 |
Percent of total revenues | 55 | % |  | 8 | % |  | 5 | % |  | 4 | % |  | 28 | % |  | 100 | %
Long-lived assets | $ | 152,214 |  |  | $ | 16,452 |  |  | $ | 40,247 |  |  | $ | 48,272 |  |  | $ | 101,179 |  |  | $ | 358,364 |
Year ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,206,401 |  |  | $ | 166,669 |  |  | $ | 107,582 |  |  | $ | 100,691 |  |  | $ | 584,359 |  |  | $ | 2,165,702 |
Percent of total revenues | 56 | % |  | 8 | % |  | 5 | % |  | 4 | % |  | 27 | % |  | 100 | %
Long-lived assets | $ | 170,368 |  |  | $ | 13,352 |  |  | $ | 36,989 |  |  | $ | 39,724 |  |  | $ | 63,776 |  |  | $ | 324,209 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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