XML 42 R32.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Leases (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Leases [Abstract] |
Summary of Components of Lease Costs | The following table summarizes the components of lease costs (in thousands):
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | October 1, |  |  | September 30, |  |  | October 1, |
| 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Operating lease cost | $ | 2,544 |  |  | $ | 2,418 |  |  | $ | 7,936 |  |  | $ | 6,213 |
Finance lease cost |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 150 |  |  |  | 149 |  |  |  | 451 |  |  |  | 451 |
Interest on lease liabilities |  | 77 |  |  |  | 85 |  |  |  | 234 |  |  |  | 257 |
Variable lease cost |  | 271 |  |  |  | 275 |  |  |  | 888 |  |  |  | 834 |
Total lease cost | $ | 3,042 |  |  | $ | 2,927 |  |  | $ | 9,509 |  |  | $ | 7,755 |
Summary of Balance Sheet Information Related to Leases | The following table provides additional details of balance sheet information related to the Company’s leases (in thousands, except lease term and discount rate):
| September 30, |  |  | December 31, |
| 2022 |  |  | 2021 |
Operating leases |  |  |  |  |
Operating lease right-of-use assets | $ | 43,520 |  |  | $ | 48,338 |
Current portion of operating lease liabilities | $ | 7,663 |  |  | $ | 7,334 |
Operating lease liabilities |  | 40,907 |  |  |  | 45,700 |
Total operating lease liabilities | $ | 48,570 |  |  | $ | 53,034 |
Finance leases |  |  |  |  |
Property, plant and equipment, gross | $ | 9,582 |  |  | $ | 9,582 |
Accumulated depreciation |  | (5,520 | ) |  |  | (5,068 | )
Finance lease assets included in property, plant and equipment, net | $ | 4,062 |  |  | $ | 4,514 |
Accrued expenses and other current liabilities | $ | 651 |  |  | $ | 599 |
Other liabilities |  | 4,825 |  |  |  | 5,309 |
Total finance lease liabilities | $ | 5,476 |  |  | $ | 5,908 |
Weighted-average remaining lease term (in years): |  |  |  |  |
Operating leases |  | 8.2 |  |  |  | 9.0 |
Finance leases |  | 6.8 |  |  |  | 7.5 |
Weighted-average discount rate: |  |  |  |  |
Operating leases |  | 4.67 | % |  |  | 4.72 | %
Finance leases |  | 5.54 | % |  |  | 5.54 | %
Summary of Cash Flow Information Related to Leases | The following table provides additional details of cash flow information related to the Company’s leases (in thousands):
| Nine Months Ended |
| September 30, |  |  | October 1, |
| 2022 |  |  | 2021 |
Cash paid for amounts included in lease liabilities: |  |  |  |  |
Operating cash flows from finance leases | $ | 234 |  |  | $ | 257 |
Operating cash flows from operating leases | $ | 5,921 |  |  | $ | 5,562 |
Financing cash flows from finance leases | $ | 447 |  |  | $ | 9,166 |
Supplemental non-cash information: |  |  |  |  |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 4,621 |  |  | $ | 15,340 |
Future Minimum Lease Payments Under Operating and Finance Leases | Future minimum lease payments under operating and finance leases expiring subsequent to September 30, 2022, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands):
Year Ending December 31, | Operating Leases |  |  | Finance Leases |
2022 (remainder of year) | $ | 2,434 |  |  | $ | 243 |
2023 |  | 9,030 |  |  |  | 930 |
2024 |  | 8,376 |  |  |  | 954 |
2025 |  | 8,013 |  |  |  | 954 |
2026 |  | 6,940 |  |  |  | 979 |
Thereafter |  | 25,347 |  |  |  | 2,506 |
Total minimum lease payments |  | 60,140 |  |  |  | 6,566 |
Less: Interest |  | (11,570 | ) |  |  | (1,090 | )
Present value of lease liabilities | $ | 48,570 |  |  | $ | 5,476 |

X
- Definition Summary of supplemental balance sheet information related to leases. + References No definition available. + Details
Name: | novt_LeaseSupplementalBalanceSheetDisclosureTableTextBlock
Namespace Prefix: | novt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating and finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating and finance lease liability recognized in statement of financial position. + References No definition available. + Details
Name: | novt_LesseeOperatingAndFinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | novt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration