XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Net sales $ 349,006 $ 379,150 $ 1,096,008 $ 1,096,393
Cost of sales 198,582 193,276 601,419 566,000
Gross profit 150,424 185,874 494,589 530,393
Operating expenses:        
Sales and marketing 19,383 20,688 58,767 58,764
Research and development 25,436 34,277 89,494 102,807
General and administrative 33,813 32,557 97,888 93,715
Gain on divestiture (21,748) 0 (21,748) 0
Impairment of long-lived assets and other restructuring charges 919 0 919 0
(Gain) loss on foreign exchange (541) (3,634) 11,289 (7,973)
Total operating expenses 57,262 83,888 236,609 247,313
Operating income 93,162 101,986 257,980 283,080
Other income (expense), net:        
Interest income (expense), net 3,625 (288) 4,732 (1,190)
Other income (expense), net 301 (211) 683 70
Total other income (expense) 3,926 (499) 5,415 (1,120)
Income before provision for income taxes 97,088 101,487 263,395 281,960
Provision for income taxes 20,390 26,788 59,738 69,362
Net income 76,698 74,699 203,657 212,598
Less: net income (loss) attributable to non-controlling interests 434 (703) 853 (731)
Net income attributable to IPG Photonics Corporation common stockholders $ 76,264 $ 75,402 $ 202,804 $ 213,329
Net income attributable to IPG Photonics Corporation per common share:        
Basic (in dollars per share) $ 1.48 $ 1.41 $ 3.94 $ 3.99
Diluted (in dollars per share) $ 1.47 $ 1.40 $ 3.93 $ 3.95
Weighted average common shares outstanding:        
Basic (in shares) 51,628,701 53,387,175 51,449,367 53,500,507
Diluted (in shares) 51,736,990 53,833,752 51,625,932 54,053,343