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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 869,274 $ 709,105
Short-term investments 365,409 805,400
Accounts receivable, net 195,194 262,121
Inventories 555,537 460,747
Prepaid income taxes 49,496 36,990
Prepaid expenses and other current assets 84,177 73,320
Total current assets 2,119,087 2,347,683
Deferred income taxes, net 69,323 47,761
Goodwill 37,963 38,609
Intangible assets, net 36,171 52,678
Property, plant and equipment, net 661,510 635,302
Other assets 38,466 48,507
Total assets 2,962,520 3,170,540
Current liabilities:    
Current portion of long-term debt 16,328 18,126
Accounts payable 55,072 55,839
Accrued expenses and other current liabilities 199,636 230,826
Income taxes payable 24,752 8,642
Total current liabilities 295,788 313,433
Other long-term liabilities and deferred income taxes 86,223 93,855
Long-term debt, net of current portion 0 16,031
Total liabilities 382,011 423,319
Commitments and contingencies (Note 12)
IPG Photonics Corporation equity:    
Common stock, $0.0001 par value, 175,000,000 shares authorized; 55,974,063 and 49,393,642 shares issued and outstanding, respectively, at September 30, 2022; 55,788,246 and 53,010,265 shares issued and outstanding, respectively, at December 31, 2021. 6 6
Treasury stock, at cost, 6,580,421 and 2,777,981 shares held at September 30, 2022 and December 31, 2021, respectively. (821,388) (438,503)
Additional paid-in capital 939,040 908,423
Retained earnings 2,669,411 2,466,607
Accumulated other comprehensive loss (206,560) (189,951)
Total IPG Photonics Corporation equity 2,580,509 2,746,582
Non-controlling interests 0 639
Total equity 2,580,509 2,747,221
Total liabilities and equity $ 2,962,520 $ 3,170,540