Business Segment, Geographic Area, and Significant Customer Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Net Revenues, Assets and Goodwill by Reportable Segment

The following table sets forth net revenues by reportable segment:

	Three Months Ended
	March 31, 2022		March 31, 2021
Vacuum Solutions Division	$	474	$	436
Photonics Solutions Division		228		182
Equipment Solutions Division		40		76
	$	742	$	694

The following table sets forth segment assets by reportable segment:

March 31, 2022	Accounts  receivable			Inventory			Total
Vacuum Solutions Division	$	335		$	386		$	721
Photonics Solutions Division		182			188			370
Equipment Solutions Division		37			63			100
Corporate, Eliminations & Other		(74	)		(1	)		(75	)
Total segment assets	$	480		$	636		$	1,116

December 31, 2021	Accounts  receivable			Inventory			Total
Vacuum Solutions Division	$	285		$	339		$	624
Photonics Solutions Division		146			177			323
Equipment Solutions Division		36			62			98
Corporate, Eliminations & Other		(24	)		(1	)		(25	)
Total segment assets	$	443		$	577		$	1,020

Goodwill associated with each of the Company's reportable segments is as follows:

	March 31, 2022		December 31, 2021
Reportable segment:
Vacuum Solutions Division	$	195	$	195
Photonics Solutions Division		557		558
Equipment Solutions Division		475		475
Total goodwill	$	1,227	$	1,228

Reconciliation of Gross Profit by Reportable Segment to Net Income

The following table sets forth a reconciliation of gross profit by reportable segment to net income:

	Three Months Ended March 31,
	2022			2021
Gross profit by reportable segment:
Vacuum Solutions Division	$	206		$	205
Photonics Solutions Division		113			82
Equipment Solutions Division		15			35
Total gross profit by reportable segment		334			322
Operating expenses:
Research and development		52			47
Selling, general and administrative		92			96
Acquisition and integration costs		8			6
Restructuring and other		2			5
Amortization of intangible assets		15			12
Gain on sale of long-lived assets		(7	)		—
Income from operations		172			156
Interest expense		6			6
Other (income) expense, net		(5	)		2
Income before income taxes		171			148
Provision for income taxes		28			26
Net income	$	143		$	122

Schedule of Capital Expenditures, Depreciation and Amortization Expense of Intangible Assets by Reportable Segment

The following table sets forth capital expenditures by reportable segment for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022		2021
Vacuum Solutions Division	$	10	$	9
Photonics Solutions Division		8		12
Equipment Solutions Division		1		6
Total capital expenditures	$	19	$	27

The following table sets forth depreciation and amortization by reportable segment for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022		2021
Vacuum Solutions Division	$	6	$	6
Photonics Solutions Division		13		9
Equipment Solutions Division		9		9
Total depreciation and amortization	$	28	$	24

Reconciliation of Segment Assets to Total Assets

The following is a reconciliation of segment assets to total assets:

	March 31, 2022		December 31, 2021
Total segment assets	$	1,116	$	1,020
Cash and cash equivalents and short-term investments		1,053		1,042
Other current assets		89		85
Property, plant and equipment, net		331		326
Right-of-use assets		180		184
Goodwill and intangible assets, net		1,788		1,804
Other assets and long-term investments		92		79
Total assets	$	4,649	$	4,540

Schedule of Net Revenues and Long-Lived Assets by Geographic Regions

Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.

	Three Months Ended March 31,
Net revenues:	2022		2021
North America (1)	$	351	$	283
South Korea		83		98
China		67		81
Taiwan		35		59
Japan		51		48
Other Asia		94		70
Europe		61		55
	$	742	$	694

North America includes revenue from the United States and an immaterial amount of revenue from Canada.

Long-lived assets: (1)	March 31, 2022		December 31, 2021
North America (2)	$	443	$	425
Asia		103		106
Europe		36		36
	$	582	$	567

(1)Long-lived assets include property, plant and equipment, net, right-of-use assets, and certain other assets, and exclude goodwill, intangible assets and long-term tax-related accounts.

(2)North America includes long-lived assets of $271, $164, and $8 in the United States, Mexico, and Canada, respectively, for the period ended March 31, 2022. North America includes long-lived assets of $284, $133, and $8 in the United States, Mexico, and Canada, respectively, for the period ended December 31, 2021.

Summary of Net Revenues by Major Customers

The following customers represented greater than 10% of the Company's net revenues as follows:

	Three Months Ended March 31,
	2022			2021
Lam Research Corporation		17	%		14	%
Applied Materials, Inc.		12	%		11	%