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Foreign Operations, Geographic Area and Product Segment Information | 12 Months Ended
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Dec. 31, 2011
Foreign Operations, Geographic Area and Product Segment Information |
Foreign Operations, Geographic Area and Product Segment Information |
11. Foreign Operations, Geographic Area and Product Segment Information Net sales which are attributed to the geographic location in which the customer facility is located and long-lived tangible assets related to operations in the United States and other foreign countries as of and for the years ended December 31, 2011, 2010 and 2009 are as follows (in thousands):
|  | Net Sales to Unaffiliated Customers |  | Long-Lived Tangible Assets |
--- | --- | --- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |
United States |  | $ | 100,310 |  | $ | 92,414 |  | $ | 60,553 |  | $ | 67,788 |  | $ | 41,072 |  | $ | 43,577 |
Other |  |  | 325 |  |  | 232 |  |  | 177 |  |  | — |  |  | — |  |  | — |
Total Americas |  |  | 100,635 |  |  | 92,646 |  |  | 60,730 |  |  | 67,788 |  |  | 41,072 |  |  | 43,577 |
EMEA(1) |  |  | 57,617 |  |  | 92,112 |  |  | 49,938 |  |  | 203 |  |  | 274 |  |  | 315 |
Asia Pacific(1) |  |  | 820,883 |  |  | 746,134 |  |  | 171,594 |  |  | 20,417 |  |  | 974 |  |  | 815 |
Total Other Foreign Countries |  |  | 878,500 |  |  | 838,246 |  |  | 221,532 |  |  | 20,620 |  |  | 1,248 |  |  | 1,130 |
|  | $ | 979,135 |  | $ | 930,892 |  | $ | 282,262 |  | $ | 88,408 |  | $ | 42,320 |  | $ | 44,707 |
(1) For the year ended December 31, 2011, net sales to customers in China were 66.4% of total net sales. For the year ended December 31, 2010, net sales to customers in Korea, China and Taiwan were 32.3%, 28.7% and 10.9% of total net sales, respectively. For the year ended December 31, 2009, net sales to customers in Korea and China were 35.1% and 11.0% of total net sales, respectively. No other country in EMEA and Asia Pacific accounted for more than 10% of our net sales for the years presented. We manage the business, review operating results and assess performance, as well as allocate resources, based upon two separate reporting segments that reflect the market focus of each business. The Light Emitting Diode ("LED") & Solar segment consists of metal organic chemical vapor deposition ("MOCVD") systems, molecular beam epitaxy ("MBE") systems, thermal deposition sources and other types of deposition systems. These systems are primarily sold to customers in the high-brightness light emitting diode ("HB LED") and solar industries, as well as to scientific research customers. This segment has product development and marketing sites in Somerset, New Jersey and St. Paul, Minnesota. During 2011 we discontinued our CIGS solar systems business, located in Tewksbury, Massachusetts and Clifton Park, New York. The Data Storage segment consists of the ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, and dicing and slicing products sold primarily to customers in the data storage industry. This segment has product development and marketing sites in Plainview, New York, Ft. Collins, Colorado and Camarillo, California. We evaluate the performance of our reportable segments based on income (loss) from operations before interest, income taxes, amortization and certain items ("segment profit (loss)"), which is the primary indicator used to plan and forecast future periods. The presentation of this financial measure facilitates meaningful comparison with prior periods, as management believes segment profit (loss) reports baseline performance and thus provides useful information. Certain items include restructuring expenses, asset impairment charges, inventory write-offs, equity-based compensation expense and other non-recurring items. The accounting policies of the reportable segments are the same as those described in the summary of critical accounting policies. The following tables present certain data pertaining to our reportable product segments and a reconciliation of segment profit (loss) to income (loss) from continuing operations, before income taxes for the years ended December 31, 2011, 2010 and 2009, and goodwill and total assets as of December 31, 2011 and 2010 (in thousands):
|  | LED & Solar |  | Data Storage |  | Unallocated Corporate |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Year ended December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 827,797 |  | $ | 151,338 |  | $ | — |  | $ | 979,135 |
Segment profit (loss) |  | $ | 267,059 |  | $ | 38,358 |  | $ | (8,987 | ) | $ | 296,430 |
Interest expense, net |  |  | — |  |  | — |  |  | 824 |  |  | 824 |
Amortization expense |  |  | 3,227 |  |  | 1,424 |  |  | 83 |  |  | 4,734 |
Equity-based compensation expense |  |  | 3,473 |  |  | 1,458 |  |  | 7,876 |  |  | 12,807 |
Restructuring expense |  |  | 204 |  |  | 12 |  |  | 1,072 |  |  | 1,288 |
Asset impairment charge |  |  | 584 |  |  | — |  |  | — |  |  | 584 |
Inventory write-offs |  |  | 758 |  |  | — |  |  | — |  |  | 758 |
Loss on extinguishment of debt |  |  | — |  |  | — |  |  | 3,349 |  |  | 3,349 |
Income (loss) from continuing operations, before income taxes |  | $ | 258,813 |  | $ | 35,464 |  | $ | (22,191 | ) | $ | 272,086 |
Year ended December 31, 2010 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 795,565 |  | $ | 135,327 |  | $ | — |  | $ | 930,892 |
Segment profit (loss) |  | $ | 300,311 |  | $ | 33,910 |  | $ | (18,675 | ) | $ | 315,546 |
Interest expense, net |  |  | — |  |  | — |  |  | 6,572 |  |  | 6,572 |
Amortization expense |  |  | 1,948 |  |  | 1,522 |  |  | 233 |  |  | 3,703 |
Equity-based compensation expense |  |  | 1,764 |  |  | 1,140 |  |  | 5,865 |  |  | 8,769 |
Restructuring credit |  |  | — |  |  | (179 | ) |  | — |  |  | (179 | )
Income (loss) from continuing operations, before income taxes |  | $ | 296,599 |  | $ | 31,427 |  | $ | (31,345 | ) | $ | 296,681 |
Year ended December 31, 2009 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 205,003 |  | $ | 77,259 |  | $ | — |  | $ | 282,262 |
Segment profit (loss) |  | $ | 38,836 |  | $ | (3,208 | ) | $ | (10,598 | ) | $ | 25,030 |
Interest expense, net |  |  | — |  |  | — |  |  | 6,850 |  |  | 6,850 |
Amortization expense |  |  | 1,946 |  |  | 1,599 |  |  | 432 |  |  | 3,977 |
Equity-based compensation expense |  |  | 924 |  |  | 1,020 |  |  | 5,169 |  |  | 7,113 |
Restructuring expense |  |  | 838 |  |  | 3,006 |  |  | 635 |  |  | 4,479 |
Asset impairment charge |  |  | — |  |  | 304 |  |  | — |  |  | 304 |
Inventory write-offs |  |  | — |  |  | 1,526 |  |  | — |  |  | 1,526 |
Income (loss) from continuing operations, before income taxes |  | $ | 35,128 |  | $ | (10,663 | ) | $ | (23,684 | ) | $ | 781 |
|  | LED & Solar |  | Data Storage |  | Unallocated Corporate |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
As of December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 55,828 |  | $ | — |  | $ | — |  | $ | 55,828 |
Total assets |  | $ | 319,457 |  | $ | 57,203 |  | $ | 559,403 |  | $ | 936,063 |
As of December 31, 2010 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 52,003 |  | $ | — |  | $ | — |  | $ | 52,003 |
Total assets |  | $ | 323,096 |  | $ | 61,691 |  | $ | 763,247 |  | $ | 1,148,034 |
Corporate total assets are comprised principally of cash and cash equivalents, short-term investments and restricted cash as of December 31, 2011 and 2010. Other Segment Data (in thousands):
|  | Year ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
Depreciation and amortization expense: |  |  |  |  |  |  |  |  |  |
LED & Solar |  | $ | 8,320 |  | $ | 5,506 |  | $ | 5,753 |
Data Storage |  |  | 3,245 |  |  | 3,581 |  |  | 4,448 |
Unallocated Corporate |  |  | 1,327 |  |  | 1,702 |  |  | 2,026 |
Total depreciation and amortization expense |  | $ | 12,892 |  | $ | 10,789 |  | $ | 12,227 |
Expenditures for long-lived assets: |  |  |  |  |  |  |  |  |  |
LED & Solar |  | $ | 56,141 |  | $ | 8,086 |  | $ | 6,656 |
Data Storage |  |  | 2,703 |  |  | 572 |  |  | 192 |
Unallocated Corporate |  |  | 1,520 |  |  | 2,066 |  |  | 612 |
Total expenditures for long-lived assets |  | $ | 60,364 |  | $ | 10,724 |  | $ | 7,460 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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