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

12 Months Ended

Dec. 31, 2021

The following table sets forth net revenues by reportable segment:

The following table sets forth segment assets by reportable segment:

	Accounts Receivable			Inventory			Total
December 31, 2021
Vacuum & Analysis	$	285.4		$	338.9		$	624.3
Light & Motion		146.2			177.3			323.5
Equipment & Solutions		36.3			61.5			97.8
Corporate, Eliminations & Other		(25.3	)		(1.0	)		(26.3	)
Total segment assets	$	442.6		$	576.7		$	1,019.3

	Accounts Receivable			Inventory			Total
December 31, 2020
Vacuum & Analysis	$	229.1		$	273.3		$	502.4
Light & Motion		122.6			166.1			288.7
Equipment & Solutions		51.7			63.7			115.4
Corporate, Eliminations & Other		(10.7	)		(1.7	)		(12.4	)
Total segment assets	$	392.7		$	501.4		$	894.1

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

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

	Years Ended December 31,
	2021		2020			2019
Gross profit by reportable segment:
Vacuum & Analysis	$	867.8	$	633.7		$	426.4
Light & Motion		384.8		309.8			336.8
Equipment & Solutions		127.6		106.0			67.2
Total gross profit by reportable segment		1,380.2		1,049.5			830.4
Operating expenses:
Research and development		200.0		173.1			164.1
Selling, general and administrative		385.1		353.1			330.3
Acquisition and integration costs		29.8		3.8			37.3
Restructuring and other		11.1		9.4			7.0
Amortization of intangible assets		55.3		55.2			67.4
Asset impairment		—		2.3			4.7
COVID-19 related net credits		—		(1.2	)		—
Fees and expenses related to repricing of Term Loan Facility		—		—			6.6
Gain on sale of long-lived assets		—		—			(6.8	)
Income from operations		698.9		453.8			219.8
Interest income		0.6		1.4			5.4
Interest expense		25.4		29.1			44.1
Other expense, net		8.6		3.1			3.3
Income before income taxes		665.5		423.0			177.8
Provision for income taxes		114.1		72.9			37.4
Net income	$	551.4	$	350.1		$	140.4

The following table set forth capital expenditures by reportable segment:

The following table sets forth depreciation and amortization by reportable segment:

	Years Ended December 31,
	2021		2020		2019
Vacuum & Analysis	$	22.9	$	20.3	$	16.8
Light & Motion		46.0		43.2		53.9
Equipment & Solutions		35.2		35.7		39.3
Total depreciation and amortization	$	104.1	$	99.2	$	110.0

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

	December 31,
	2021		2020
Total segment assets	$	1,019.3	$	894.1
Cash and cash equivalents and short-term investments		1,042.7		836.0
Other current assets		85.3		74.3
Property, plant and equipment, net		325.3		284.3
Right-of-use assets		184.3		184.4
Goodwill and intangible assets, net		1,804.2		1,578.6
Other assets and long-term assets		79.2		52.1
Consolidated total assets	$	4,540.3	$	3,903.8

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

⁽¹⁾	North America includes the United States and an immaterial amount from Canada.

⁽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. The increase in long-lived assets in North America for 2021 primarily relates to the Photon Control Acquisition.

⁽²⁾	North America includes the United States and an immaterial amount from Canada.