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Assets (Tables)
6 Months Ended
Jun. 30, 2017
Assets  
Schedule of portion of Veeco's assets (excluding cash balances) that are measured at fair value on a recurring basis

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

(in thousands)

 

June 30, 2017

 

 

 

 

 

 

 

 

 

Short-term investments

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

34,951

 

$

 

$

 

$

34,951

 

Government agency securities

 

 

62,135

 

 

62,135

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

34,951

 

$

62,135

 

$

 

$

97,086

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

 

 

 

 

 

 

Cash equivalents

 

 

 

 

 

 

 

 

 

Corporate debt

 

$

 

$

1,501

 

$

 

$

1,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

 

$

1,501

 

$

 

$

1,501

 

Short-term investments

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

40,008

 

$

 

$

 

$

40,008

 

Government agency securities

 

 

10,012

 

 

10,012

 

Corporate debt

 

 

13,773

 

 

13,773

 

Commercial paper

 

 

2,994

 

 

2,994

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

40,008

 

$

26,779

 

$

 

$

66,787

 

 

Schedule of amortized cost and fair value of available-for-sale securities

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Estimated

 

 

 

Cost

 

Gains

 

Losses

 

Fair Value

 

 

 

(in thousands)

 

June 30, 2017

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

34,986

 

$

 

$

(35

)

$

34,951

 

Government agency securities

 

62,181

 

 

(46

)

62,135

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

97,167

 

$

 

$

(81

)

$

97,086

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

40,013

 

$

 

$

(5

)

$

40,008

 

Government agency securities

 

10,020

 

 

(8

)

10,012

 

Corporate debt

 

13,780

 

 

(7

)

13,773

 

Commercial paper

 

2,994

 

 

 

2,994

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

66,807

 

$

 

$

(20

)

$

66,787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of fair value and unrealized losses of available-for-sale securities in a loss position

 

 

June 30, 2017

 

December 31, 2016

 

 

 

 

 

Gross

 

 

 

Gross

 

 

 

Estimated

 

Unrealized

 

Estimated

 

Unrealized

 

 

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

 

 

(in thousands)

 

U.S. treasuries

 

$

34,951

 

$

(35

)

$

20,002

 

$

(5

)

Government agency securities

 

62,135

 

(46

)

10,012

 

(8

)

Corporate debt

 

 

 

13,774

 

(7

)

 

 

 

 

 

 

 

 

 

 

Total

 

$

97,086

 

$

(81

)

$

43,788

 

$

(20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of contractual maturities of available-for-sale securities

 

 

June 30, 2017

 

 

 

Amortized

 

Estimated

 

 

 

cost

 

fair value

 

 

 

(in thousands)

 

Due in one year or less

 

$

72,278

 

$

72,220

 

Due after one year through two years

 

24,889

 

24,866

 

 

 

 

 

 

 

Total

 

$

97,167

 

$

97,086

 

 

 

 

 

 

 

 

 

 

Schedule of inventories

 

 

June 30,

 

December 31,

 

 

 

2017

 

2016

 

 

 

(in thousands)

 

Materials

 

$

58,372

 

$

46,457

 

Work-in-process

 

46,498

 

25,250

 

Finished goods

 

15,065

 

5,356

 

 

 

 

 

 

 

Total

 

$

119,935

 

$

77,063

 

 

 

 

 

 

 

 

 

 

Schedule of property, plant, and equipment

 

 

June 30,

 

December 31,

 

 

 

2017

 

2016

 

 

 

(in thousands)

 

Land

 

$

5,669

 

$

5,669

 

Building and improvements

 

49,832

 

50,814

 

Machinery and equipment(1)

 

122,131

 

99,370

 

Leasehold improvements

 

9,486

 

3,652

 

 

 

 

 

 

 

Gross property, plant and equipment

 

187,118

 

159,505

 

Less: accumulated depreciation and amortization

 

104,572

 

98,859

 

 

 

 

 

 

 

Net property, plant, and equipment

 

$

82,546

 

$

60,646

 

 

 

 

 

 

 

 

 

 

 

(1) Machinery and equipment also includes software, furniture and fixtures

Schedule of changes in goodwill

 

 

Gross carrying

 

Accumulated

 

 

 

 

 

amount

 

impairment

 

Net amount

 

 

 

(in thousands)

 

Balance at December 31, 2016

 

$

238,108

 

$

123,200

 

$

114,908

 

Acquisition

 

188,252

 

 

188,252

 

 

 

 

 

 

 

 

 

Balance at June 30, 2017

 

$

426,360

 

$

123,200

 

$

303,160

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of intangible assets excluding goodwill

 

 

June 30, 2017

 

December 31, 2016

 

 

 

 

 

Accumulated

 

 

 

 

 

Accumulated

 

 

 

 

 

Gross

 

Amortization

 

 

 

Gross

 

Amortization

 

 

 

 

 

Carrying

 

and

 

Net

 

Carrying

 

and

 

Net

 

 

 

Amount

 

Impairment

 

Amount

 

Amount

 

Impairment

 

Amount

 

 

 

(in thousands)

 

Technology

 

$

307,588

 

$

118,863

 

$

188,725

 

$

149,198

 

$

113,904

 

$

35,294

 

Customer relationships

 

164,595

 

31,971

 

132,624

 

47,885

 

28,659

 

19,226

 

In-process R&D

 

43,340

 

 

43,340

 

 

 

 

Trademarks and tradenames

 

28,010

 

2,326

 

25,684

 

2,590

 

1,948

 

642

 

Indefinite-lived trademark

 

2,900

 

 

2,900

 

2,900

 

 

2,900

 

Other

 

3,828

 

1,004

 

2,824

 

2,026

 

1,710

 

316

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

550,261

 

$

154,164

 

$

396,097

 

$

204,599

 

$

146,221

 

$

58,378