Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 680,070	$ 544,358
Short-term investments	502,546	500,432
Accounts receivable, net	238,479	255,509
Inventories	380,790	403,579
Prepaid income taxes	38,873	43,782
Prepaid expenses and other current assets	55,876	57,764
Total current assets	1,896,634	1,805,424
Deferred income taxes, net	31,395	19,165
Goodwill	82,092	100,722
Intangible assets, net	74,271	87,139
Property, plant and equipment, net	600,852	543,068
Other assets	45,192	18,932
Total assets	2,730,436	2,574,450
Current liabilities:
Current portion of long-term debt	3,740	3,671
Accounts payable	27,329	36,302
Accrued expenses and other liabilities	149,782	154,640
Income taxes payable	11,053	51,161
Total current liabilities	191,904	245,774
Deferred income taxes and other long-term liabilities	98,121	80,734
Long-term debt, net of current portion	37,968	41,707
Total liabilities	327,993	368,215
Commitments and contingencies (Note 14)
IPG Photonics Corporation equity:
Common stock, $0.0001 par value, 175,000,000 shares authorized; 54,743,227 and 53,010,875 shares issued and outstanding, respectively, at December 31, 2019; 54,371,701 and 52,941,607 shares issued and outstanding, respectively, at December 31, 2018.	5	5
Treasury stock, at cost, 1,732,352 and 1,430,094 shares held at December 31, 2019 and December 31, 2018, respectively.	(265,730)	(224,998)
Additional paid-in capital	785,636	744,937
Retained earnings	2,028,734	1,848,500
Accumulated other comprehensive loss	(146,919)	(162,896)
Total IPG Photonics Corporation stockholders' equity	2,401,726	2,205,548
Non-controlling interests	717	687
Total equity	2,402,443	2,206,235
Total liabilities and equity	$ 2,730,436	$ 2,574,450