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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 544,358 $ 909,900
Short-term investments 500,432 206,257
Accounts receivable, net 255,509 237,278
Inventories 403,579 307,712
Prepaid income taxes 43,782 44,944
Prepaid expenses and other current assets 57,764 47,919
Total current assets 1,805,424 1,754,010
DEFERRED INCOME TAXES, NET 19,165 26,976
GOODWILL 100,722 55,831
INTANGIBLE ASSETS, NET 87,139 51,223
PROPERTY, PLANT AND EQUIPMENT, NET 543,068 460,206
OTHER ASSETS, NET 18,932 19,009
TOTAL ASSETS 2,574,450 2,367,255
CURRENT LIABILITIES:    
Current portion of long-term debt 3,671 3,604
Accounts payable 36,302 35,109
Accrued expenses and other liabilities 154,640 144,417
Income taxes payable 51,161 15,773
Total current liabilities 245,774 198,903
DEFERRED INCOME TAXES AND OTHER LONG-TERM LIABILITIES 80,734 100,652
LONG-TERM DEBT, NET OF CURRENT PORTION 41,707 45,378
Total liabilities 368,215 344,933
COMMITMENTS AND CONTINGENCIES (NOTE 11)
IPG PHOTONICS CORPORATION EQUITY:    
Common stock, $0.0001 par value, 175,000,000 shares authorized; 54,371,701 and 52,941,607 shares issued and outstanding, respectively, at December 31, 2018; 54,007,708 and 53,629,439 shares issued and outstanding, respectively, at December 31, 2017 5 5
Treasury stock, at cost (1,430,094 and 378,269 shares held) (224,998) (48,933)
Additional paid-in capital 744,937 704,727
Retained earnings 1,848,500 1,443,867
Accumulated other comprehensive loss (162,896) (77,344)
Total IPG Photonics Corporation stockholders' equity 2,205,548 2,022,322
NONCONTROLLING INTERESTS 687 0
Total equity 2,206,235 2,022,322
TOTAL LIABILITIES AND EQUITY $ 2,574,450 $ 2,367,255