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Business Segment, Geographic Area, Product/Service Offerings and Significant Customer Information (Tables)

3 Months Ended

Mar. 31, 2020

Net Revenues, Assets and Goodwill by Reportable Segment

The following table sets forth net revenues by reportable segment:

	Three Months Ended March 31,
	2020		2019
Vacuum & Analysis	$	319.3	$	234.4
Light & Motion		165.4		194.0
Equipment & Solutions		51.0		35.2
	$	535.7	$	463.6

The following table sets forth segment assets by reportable segment:

March 31, 2020:	Vacuum & Analysis		Light & Motion		Equipment & Solutions		Corporate, Eliminations & Other			Total
Segment assets:
Accounts receivable	$	196.1	$	158.6	$	57.7	$	(31.4	)	$	381.0
Inventory, net		227.2		174.5		72.4		0.1			474.2
Total segment assets	$	423.3	$	333.1	$	130.1	$	(31.3	)	$	855.2

December 31, 2019:	Vacuum & Analysis		Light & Motion		Equipment & Solutions		Corporate, Eliminations & Other			Total
Segment assets:
Accounts receivable	$	185.9	$	147.2	$	40.1	$	(32.1	)	$	341.1
Inventory, net		224.8		163.7		73.5		0.1			462.1
Total segment assets	$	410.7	$	310.9	$	113.6	$	(32.0	)	$	803.2

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

	March 31, 2020		December 31, 2019
Reportable segment:
Vacuum & Analysis	$	196.1	$	196.7
Light & Motion		387.4		388.5
Equipment & Solutions		472.9		473.3
Total goodwill	$	1,056.4	$	1,058.5

Reconciliation of Segment Gross Profit to Consolidated Net Income

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

	Three Months Ended March 31,
	2020		2019
Gross profit by reportable segment:
Vacuum & Analysis	$	140.8	$	98.1
Light & Motion		75.6		92.9
Equipment & Solutions		23.2		7.1
Total gross profit by reportable segment		239.6		198.1
Operating expenses:
Research and development		42.4		38.9
Selling, general and administrative		87.2		82.5
Acquisition and integration costs		2.2		30.2
Restructuring and other		0.4		1.9
Fees and expenses related to repricing of Term Loan Facility		—		5.8
Amortization of intangible assets		16.3		15.7
Asset impairments		1.2		—
Income from operations		89.9		23.1
Interest income		0.7		1.7
Interest expense		8.9		9.1
Other expense, net		0.4		0.3
Income before income taxes		81.3		15.4
Provision for income taxes		12.2		2.9
Net income	$	69.1	$	12.5

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, 2020 and 2019:

	Vacuum & Analysis		Light & Motion		Equipment & Solutions		Total
Three Months Ended March 31, 2020:
Capital expenditures	$	4.1	$	4.0	$	1.9	$	10.0
Three Months Ended March 31, 2019:
Capital expenditures	$	7.5	$	5.1	$	1.9	$	14.5

The following table sets forth depreciation and amortization by reportable segment for the three months ended March 31, 2020 and 2019:

	Vacuum & Analysis		Light & Motion		Equipment & Solutions		Total
Three Months Ended March 31, 2020:
Depreciation and amortization	$	4.9	$	13.4	$	10.1	$	28.4
Three Months Ended March 31, 2019
Depreciation and amortization	$	4.1	$	14.1	$	7.0	$	25.2

Reconciliation of Segment Assets to Consolidated Total Assets

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

	March 31, 2020		December 31, 2019
Total segment assets	$	855.2	$	803.2
Cash and cash equivalents and short-term investments		503.4		524.0
Other current assets		98.0		106.3
Property, plant and equipment, net		238.2		241.9
Right-of-use asset		127.1		64.5
Goodwill and intangible assets, net		1,604.1		1,623.1
Other assets		48.9		53.3
Consolidated total assets	$	3,474.9	$	3,416.3

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

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

	Three Months Ended March 31,
	2020		2019
Net revenues:
United States	$	231.5	$	224.4
South Korea		76.0		35.8
China		49.7		37.8
Japan		39.9		42.1
Germany		34.5		38.1
Other		104.1		85.4
	$	535.7	$	463.6

Long-lived assets:⁽¹⁾	March 31, 2020		December 31, 2019
United States	$	273.3	$	208.3
Europe		37.7		41.4
Asia		84.2		89.6
	$	395.2	$	339.3

⁽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.

Worldwide Net Revenue for Each Group of Products

The Company groups its product offerings into three groups based upon the similarity of product function as follows:

	Three Months Ended March 31,
	2020		2019
Advanced Manufacturing Components	$	425.9	$	371.4
Global Service		74.5		66.2
Advanced Manufacturing Systems		35.3		26.0
	$	535.7	$	463.6