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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 896,741 $ 876,231
Short-term investments 548,196 514,835
Accounts receivable, net 252,877 264,321
Inventories 368,149 364,993
Prepaid income taxes 70,421 69,893
Prepaid expenses and other current assets 65,877 57,804
Total current assets 2,202,261 2,148,077
Deferred income taxes, net 41,276 43,197
Goodwill 38,764 41,366
Intangible assets, net 61,768 62,114
Property, plant and equipment, net 600,911 597,527
Other assets 37,971 43,419
Total assets 2,982,951 2,935,700
Current liabilities:    
Current portion of long-term debt 3,828 3,810
Accounts payable 44,704 25,748
Accrued expenses and other current liabilities 162,775 176,740
Income taxes payable 3,446 8,280
Total current liabilities 214,753 214,578
Deferred income taxes and other long-term liabilities 94,335 92,854
Long-term debt, net of current portion 33,193 34,157
Total liabilities 342,281 341,589
Commitments and contingencies (Note 12)
IPG Photonics Corporation equity:    
Common stock, $0.0001 par value, 175,000,000 shares authorized; 55,672,783 and 53,623,865 shares issued and outstanding, respectively, at March 31, 2021; 55,461,246 and 53,427,234 shares issued and outstanding, respectively, at December 31, 2020. 6 6
Treasury stock, at cost, 2,048,918 and 2,034,012 shares held at March 31, 2021 and December 31, 2020, respectively. (306,662) (303,614)
Additional paid-in capital 868,097 854,301
Retained earnings 2,256,318 2,188,191
Accumulated other comprehensive loss (178,257) (146,065)
Total IPG Photonics Corporation equity 2,639,502 2,592,819
Non-controlling interests 1,168 1,292
Total equity 2,640,670 2,594,111
Total liabilities and equity $ 2,982,951 $ 2,935,700