XML 22 R9.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Revenue From Contracts With Customers | 12 Months Ended
--- | ---
Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Revenue From Contracts With Customers | REVENUE FROM CONTRACTS WITH CUSTOMERSSales are derived from products for different applications: fiber lasers, diode lasers, diodes and systems for materials processing, fiber lasers and amplifiers for advanced applications, fiber amplifiers for communications applications, and fiber lasers for medical applications. The following tables represent a disaggregation of revenue from contracts with customers for the year ended December 31, 2018.
Sales by application |  |  |  |  |  |  |  |  |  |
Materials processing |  |  |  | $ | 1,374,448 |  |  |  |  |  |
Other applications |  |  |  | 85,426 |  |  |  |  |  |
Total |  |  |  | $ | 1,459,874 |  |  |  |  |  |
Sales by product |  |  |  |  |  |  |  |  |
High Power Continuous Wave ("CW") Lasers |  |  |  | $ | 909,726 |  |  |  |  |
Medium and Low Power CW Lasers |  |  |  | 95,764 |  |  |  |  |
Pulsed Lasers |  |  |  | 162,048 |  |  |  |  |
Quasi-Continuous Wave ("QCW") Lasers |  |  |  | 66,700 |  |  |  |  |
Laser Systems |  |  |  | 59,330 |  |  |  |  |
Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue |  |  |  | 166,306 |  |  |  |  |
Total |  |  |  | $ | 1,459,874 |  |  |  |  |
Sales by geography |  |  |  |  |  |  |  |  |
North America |  |  |  | $ | 202,743 |  |  |  |  |
Europe: |  |  |  |  |  |  |  |  |
Germany |  |  |  | 111,259 |  |  |  |  |
Other including Eastern Europe/CIS |  |  |  | 296,917 |  |  |  |  |
Asia and Australia: |  |  |  |  |  |  |  |  |
China |  |  |  | 629,079 |  |  |  |  |
Japan |  |  |  | 87,619 |  |  |  |  |
Other |  |  |  | 127,251 |  |  |  |  |
Rest of World |  |  |  | 5,006 |  |  |  |  |
Total |  |  |  | $ | 1,459,874 |  |  |  |  |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Goods and services transferred at a point in time |  |  |  | $ | 1,447,343 |  |  |  |  |
Services transferred over time |  |  |  | 12,531 |  |  |  |  |
Total |  |  |  | $ | 1,459,874 |  |  |  |  |
The Company enters into contracts to sell lasers and spare parts, for which revenue is generally recognized upon shipment or delivery, depending on the terms of the contract. The Company also provides installation services and extended warranties. The Company frequently receives consideration from a customer prior to transferring goods to the customer under the terms of a sales contract. The Company records customer deposits related to these prepayments, which represent a contract liability. The Company also records deferred revenue related to installation services when consideration is received before the services have been performed. The Company recognizes customer deposits and deferred revenue as net sales after control of the goods or services has been transferred to the customer and all revenue recognition criteria is met. The Company bills customers for extended warranties upon entering into the agreement with the customer, resulting in deferred revenue. The timing of customer payments on contracts for the sale of customized robotic systems generally differs from the timing of revenue recognized, resulting in contract assets and liabilities. Contract assets are included within prepaid expense and other current assets on the consolidated balance sheets. Contract liabilities are included within accrued expenses and other current liabilities on the consolidated balance sheets. Before the transition date (under ASC 605, Revenue Recognition), the Company deferred revenue for installation services in an amount equal to the greater of the cash received or the fair value for installation. Under the new revenue standard, the standalone selling price for installation services is deferred until control has transferred. The standalone selling price for installation services is determined based on the estimated number of days of service technician time required for installation at standard service rates. The following table reflects the changes in the Company's contract assets and liabilities for the year ended December 31, 2018:
| December 31, |  | January 1, |  |  |  |
| 2018 |  | 2018 |  | Change |  |
Contract assets |  |  |  |  |  |  |
Contract assets | 10,102 |  | — |  | 10,102 |  | 100.0 | %
Contract liabilities |  |  |  |  |  |  |
Contract liabilities - current | 52,606 |  | 46,508 |  | 6,098 |  | 13.1 | %
Contract liabilities - long-term | 1,413 |  | 182 |  | 1,231 |  | 676.4 | %
During the year ended December 31, 2018, the Company recognized revenue of $40,944 that was included in the contract liabilities at the beginning of the period. The Company has elected the practical expedient in ASC 606-10-50-14, whereby the performance obligations for contracts with an original expected duration of one year or less are not disclosed. The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of December 31, 2018:
|  | Remaining Performance Obligations |  |  |  |  |  |  |  |  |  |  |  |
|  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Total
Revenue expected to be recognized for extended warranty agreements |  | 3,302 |  | 760 |  | 375 |  | 203 |  | 71 |  | 4 |  | 4,715
Revenue to be earned over time from contracts to sell robotic systems |  | 38,038 |  | 1,700 |  | — |  | — |  | — |  | — |  | 39,738
Total |  | $ | 41,340 |  | $ | 2,460 |  | $ | 375 |  | $ | 203 |  | $ | 71 |  | $ | 4 |  | $ | 44,453

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

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration